HomeMy WebLinkAboutContract 44277 (2)CITY
SECRETy,
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STATE OF TEXAS
COUNTY OF TARRANT §
TAX ABATEMENT AGREEMENT
This TAX ABATEMENT AGREEMENT ("Agreement") is entered into by and
between the CITY OF FORT WORTH, TEXAS (the "City"), a home rule municipality
organized under the laws of the State of Texas, and BUCK'S WHEEL & EQUIPMENT CO.
("Owner"), a Texas corporation.
The City Council of the City of Fort Worth ("City Council") hereby finds and the parties
hereby agree that the following statements are true and correct and constitute the basis upon which
the parties have entered into this Agreement:
A. On June 12, 2012, the City Council adopted Resolution No. 4096-06-2012, stating
that the City elects to be eligible to participate in tax abatement, as authorized by and in accordance
with the Property Redevelopment and Tax Abatement Act, codified in Chapter 312 of the Texas
Tax Code, as amended (the "Code").
B. On December 6, 2011, the City Council adopted Resolution No. 4051-12-2011 and
approved a Relocation Incentives Policy (the "Relocation Incentives Policy") for qualifying
businesses that are displaced and must relocate due to a Major Public Infrastructure Project, as that
term is defined in the Relocation Incentives Policy. Tax abatement is one of the incentives
available under the Relocation Incentives Policy.
C. On July 18, 2006, the City Council adopted Resolution No. 3390-07-2006, finding
that the Trinity River Uptown Project, as defined in Resolution No. 3 3 90-07-2006, is a Major
Public Infrastructure Project and that, therefore, businesses that are displaced and must relocate on
account of the Trinity River Uptown Project are eligible for incentives pursuant to and in
accordance with the Relocation Incentives Policy.
D. Owner currently operates an automotive and mechanical repair and maintenance
facility at 220 South Commercial Street in the City. This property has been acquired or is intended
to be acquired by Tarrant Regional Water District on account of the Trinity River Uptown Project,
which will displace Owner's business operations. Owner has purchased property at 5101 North
Main St. and 5201 N. Main St. (collectively, the "Land"), as more specifically described in
Exhibit "A", attached hereto and hereby made a part of this Agreement for all purposes, and
intends to relocate Owner's business operations to the Land. The Land is located within that area
of the City defined by the Relocation Incentives Policy as Area 3, which qualifies Owner for tax
abatement under the Relocation Incentives Policy.
E. The City Council established Tax Abatement Reinvestment Zone No. 86, City of
Fort Worth, Texas (the "Zone") pursuant to Ordinance No. 20584-01-2013, which was adopted on
Page 1
Tax Abatement Agreement between
City of Fort Worth and Buck's Wheel & Equipment Co.
».41\ I'-;1 [;\f
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RECEIVED MAR 1 4 2013
January 15, 2013, as amended by Ordinance No. 20594-01-2013, which was adopted on January
29, 2013 (collectively, the "Ordinance").
F. On October 31, 2012 Owner submitted an application for tax abatement to the City
concerning the contemplated use of the Land (the "Application"), attached hereto as Exhibit "B"
and hereby made a part of this Agreement for all purposes.
G. The contemplated use of the Land, the Required Improvements, as defined in
Section 1, and the terms of this Agreement are consistent with encouraging development of the
Zone and generating economic development and increased employment opportunities in the City,
in accordance with the purposes for creation of the Zone
H. Written notice that the City intends to enter into this Agreement along with a copy
of this Agreement, has been furnished in the manner prescribed by the Code to the presiding
officers of the governing bodies of each of the taxing units in which the Land is located.
NOW, THEREFORE, the City and Owner, for and in consideration of the terms and
conditions set forth herein, do hereby contract, covenant and agree as follows:
1. REQUIRED IMPROVEMENTS AND USE OF LAND BY OWNER .
Owner shall expend at least One Million Five Hundred Thousand Dollars
($1,500,000.00) in Construction Costs for improvements to the Land or to existing
improvements thereon, as specified in the Application (collectively, the "Required
Improvements") in order to relocate Owner's automotive and mechanical repair and
maintenance facility from 220 South Commercial St. to the Land. For purposes of this
Agreement, `Construction Costs" shall mean means the following costs expended to construct
the Required Improvements: actual site development costs, construction costs, contractor fees,
costs of supplies and materials, engineering fees, architectural and design fees, and any permit
fees. Construction Costs specifically excludes any acquisition costs of the Land.
Once Owner has completed the Required Improvements, Owner shall notify the City in
writing. Such written notice must occur on or before December 31, 2013 (the "Completion
Deadline' ). This written notice shall include a description of any new taxable tangible personal
property that was not located in the City prior to the Effective Date of this Agreement and that has
been placed on the Land since the Effective Date of this Agreement ("New Personal Property")
Following receipt of such written notice, the City shall promptly verify whether the Required
Improvements have been made and what New Personal Property is on the Land Upon such
verification, the City shall provide Owner with written confirmation that the Required
Improvements were completed (the date of such written confirmation being the ' Completion
Date") and a description of the New Personal Property that has been located on the Land as of the
Completion Date. Following the Completion Date and all times thereafter during the Term of this
Agreement, Owner shall use the Land, the Required Improvements and the New Personal Property
for the purpose of operating an automotive and mechanical repair and maintenance facility, as set
Page 2
Tax Abatement Agreement between
City of Fort Worth and Buck's Wheel & Equipment Co.
forth in the Application. The parties hereto agree that such use of the Land is consistent with the
general purpose of encouraging redevelopment of the Zone during the Term of this Agreement.
2. ABATEMENT AMOUNTS, TERMS AND CONDITIONS.
In return for Owner's construction of the Required Improvements and use of the Land in
accordance with Section 1 of this Agreement, the City will grant to Owner property tax abatements
on (i) the Land and any improvements thereon and (ii) any New Personal Property annually for a
period of three (3) years, beginning in the first full tax year following the Completion Date
(collectively, the "Abatement"). The amount of each annual Abatement granted under this
Agreement shall be (i) twenty-five percent (25%) of the increase in value of the Land and any
improvements thereon, and (ii) twenty-five percent (25%) of the increase in value of the New
Personal Property over their respective values as of January 1, 2013, which is the year in which
the parties entered into this Agreement.
3. TERM.
This Agreement shall take effect on the date as of which both the City and Owner have
executed this Agreement and, unless teuninated earlier in accordance with its terms and conditions,
shall expire on December 31 of the third (3rd) full calendar year following the Completion Date
(the "Term").
4. RECORDS, AUDITS AND EVALUATION OF REQUIRED IMPROVEMENTS.
4.1. Inspection of Property.
At any time during normal office hours throughout the Term and the year following
the Tenn, and following reasonable notice to Owner, the City shall have and Owner shall
provide access to the Land, any improvements thereon, including the Required
Improvements and any New Personal Property, in order for the City to inspect the Land
and evaluate the Required Improvements and the New Personal Property to ensure
compliance with the terms and conditions of this Agreement. Owner shall cooperate fully
with the City during any such inspection and/or evaluation. Notwithstanding the foregoing,
Owner shall have the right to require that any representative of the City be escorted by
Owner's security personnel while on the Land.
4.2. Compliance Certification by Owner.
On or before March 1 of each year following the year in which the Completion
Date occurred, Owner shall submit a written certificate to the City as to whether Owner is
in compliance with all terms and conditions of this Agreement.
Page 3
Tax Abatement Agieement between
City of Fort Worth and Buck's Wheel & Equipment Co.
4.3. Audits.
The City shall have the right to audit the financial and business records of Owner
and Owner that relate to Owner's construction of the Required Improvements operations
(collectively, the ' Records') at any time during the Term solely in order to verify that
the Land is being used for the commercial purposes set forth in Section 1. Owner shall
make all Records available to the City on the Land or at another location in the City
following reasonable advance notice by the City and shall otherwise cooperate fully with
the City during any audit.
5. DEFAULT AND TERMINATION.
5.1. Failure to Complete Required Improvements.
If Owner fails to expend at least One Million Five Hundred Thousand Dollars
($1,500,000) in Construction Costs for the Required Improvements by the Completion
Deadline, or if Owner fails to notify the City in writing on or before the Completion
Deadline that the Required Improvements have been completed, the City shall have the
right to terminate this Agreement immediately upon provision of written notice to Owner.
5.2. Other Default.
An event of default shall occur under this Agreement if (i) the Land is not used for
the commercial purposes set forth in Section 1 for more than thirty (30) consecutive
calendar days; (ii) ad valorem taxes on the Land, any improvements thereon or any
personal property located thereon that are owed to the City by Owner become delinquent
and Owner does not timely and properly follow the legal procedures for protest and/or
contest of any such ad valorem real property or tangible personal property taxes; or (iii)
Owner breaches any other term or condition of this Agreement. If the City determines that
an event of default has occurred pursuant to this Section 5 2, the City shall provide a
written notice to Owner that describes the nature of the default. Owner shall have thirty
(30) calendar days from the date of receipt of this written notice to fully cure or have
cured the default. If Owner reasonably believes that Owner will require additional time
to cure the default, Owner shall promptly notify the City in writing, in which case (i) after
advising the City Council in an open meeting of Owner's efforts and intent to cure,
Owner shall have ninety (90) calendar days from the original date of receipt of the
written notice to cure the default, or (ii) if Owner reasonably beheves that Owner will
require more than ninety (90) days to cure the default, after advising the City Council in
an open meeting of Owner's efforts and intent to cure, such additional time, if any, as
may be offered by the City Council in its sole discretion. Notwithstanding anything to
the contrary herein, if Owner has been default under this Agreement for failure to use the
Land for the commercial purposes set forth in Section 1 for more than thirty (30)
consecutive calendar days on two (2) previous occasions during the Tenn of this
Agreement, the City may terminate this Agreement upon provision of written notice to
Page 4
Tax Abatement Agreement between
City of Fort Worth and Buck's Wheel & Equipment Co.
Owner after the third such default without the obligation to provide Owner the right to
cure as provided above. In the event this Agreement is terminated pursuant to this
Section 5 2, there shall be no recapture of any taxes abated prior to the effective date of
termination.
5.3. Termination at Will.
Owner may terminate this Agreement at any time by providing written notice of
such intent to the City. In this event, (i) if the Term has commenced, the Term shall expire
as of the effective date of the termination of this Agreement; (ii) there shall be no recapture
of any taxes abated prior to the effective date of termination; and (iii) neither party shall
have any further rights or obligations hereunder.
5.4. Knowing Employment of Undocumented Workers.
Owner acknowledges that the City is required to comply with Chapter 2264 of the
Texas Government Code, enacted by House Bill 1196 (80th Texas Legislature), which
relates to restrictions on the use of certain public subsidies. Owner hereby certifies that
Owner, and any branches, divisions, or departments of Owner, does not and will not
knowingly employ an undocumented worker, as that term is defined by Section
2264.001(4) of the Texas Government Code. In the event that Owner, or any branch,
division, or department of Owner, is convicted of a violation under 8 U.S.C. Section
1324a(/) (relating to federal criminal penalties and injunctions for a pattern or practice
of employing unauthorized aliens), subject to any appellate rights that may lawfully be
available to and exercised by Owner, Owner shall repay, within one hundred twenty
(120) calendar days following receipt of written demand from the City, the amount of
Abatement received by Owner hereunder, if any, plus Simple Interest at a rate of four
percent (4%) per annum based on the amount of Abatement received as of December
31 of the tax year in which the Abatement was granted..
For the purposes of this Section 5.4, "Simple Interest" is defined as a rate of
interest applied only to an original value, in this case the amount of Abatement. This rate
of interest can be applied each year, but will only apply to the amount of the Abatement
received and is not applied to interest calculated. For example, if the aggregate amount of
Abatement received by Owner is $10,000 and it is required to be paid back with four
percent (4%) interest five years later, the total amount would be $10,000 + [5 x ($10,000 x
0.04)], which is $12,000. This Section 5.4 does not apply to convictions of any Affiliate of
Owner, any franchisees of Owner, or any person or entity with whom Owner contracts.
Notwithstanding anything to the contrary herein, this Section 5.4 shall survive the
expiration or teiinination of this Agreement.
Page 5
Tax Abatement Agreement between
City of Fort Worth and Buck's Wheel & Equipment Co.
6. EFFECT OF SALE OF LAND, REQUIRED IMPROVEMENTS AND/OR
PERSONAL PROPERTY.
The Abatement granted hereunder shall vest only in Owner, and cannot be assigned to a
new owner of all or any portion of the Land, the Required Improvements and/or the New Personal
Property.
7. NOTICES.
All written notices called for or required by this Agreement shall be addressed to the
following, or such other party or address as either party designates in writing, by certified mail,
postage prepaid, or by hand delivery*
City:
City of Fort Worth
Attn: City Manager
1000 Throckmorton
Fort Worth, TX 76102
Owner:
Buck's Wheel & Equipment Co.
Attn: Gary Brawner, President
P.O. Box 471668
Fort Worth, TX 76147
with copies to:
the City Attorney and
Economic/Community Development
Director at the same address
8. COMPLIANCE WITH LAWS, ORDINANCES, RULES AND REGULATIONS;
ALL GRANTS SUBJECT TO APPROPRIATION.
This Agreement will be subject to all applicable federal, state and local laws, ordinances,
rules and regulations, including, but not limited to, all provisions of the City's Charter and
ordinances, as amended.
9. GOVERNMENTAL POWERS.
It is understood that by execution of this Agreement, the City does not waive or surrender
any of it governmental powers or immunities.
Page 6
Tax Abatement Agreement between
City of Fort Worth and Buck's Wheel & Equipment Co.
10. NO WAIVER.
The failure of either party to insist upon the perfoiuiance of any term or provision of this
Agreement or to exercise any right granted hereunder shall not constitute a waiver of that party's
right to insist upon appropriate perfou nance or to assert any such right on any future occasion.
11. VENUE AND JURISDICTION.
If any action, whether or not real or asserted, at law or in equity, arises on the basis of any
provision of this Agreement, venue for such action shall lie in state courts located in Tarrant
County, Texas or the United States Court for the Northern District of Texas — Fort Worth Division.
This Agreement shall be construed in accordance with the laws of the State of Texas.
12. NO THIRD PARTY RIGHTS.
The provisions of this Agreement are solely for the benefit of the City and Owner, and are
not intended to create any rights, contractual or otherwise, in any other person or entity.
13. SEVERABILITY.
If any provision of this Agreement is held to be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected
or impaired.
14. INTERPRETATION.
In the event of any dispute over the meaning or application of any provision of this
Agreement, this Agreement shall be interpreted fairly and reasonably, and neither more strongly
for or against either party, regardless of the actual drafter of this Agreement. In the event of any
conflict between the City's zoning ordinances, or other City ordinances and regulations, and this
Agreement, such ordinances or regulations shall control.
15. BONDHOLDER RIGHTS.
The Required Improvements will not be financed by tax increment bonds. This Agreement
is subject to the rights of holders of outstanding bonds of the City.
Page 7
Tax Abatement Agreement between
City of Fort Worth and Buck's Wheel & Equipment Co.
16. CONFLICTS OF INTEREST.
Neither the Land nor any of the Required Improvements covered by this Agreement are
owned or leased by any member of the City Council, any member of the City Plan or Zoning
Commission or any member of the governing body of any taxing unit with Jurisdiction in the Zone
17. CAPTIONS.
Captions and headings used in this Agreement are for reference purposes only and shall not
be deemed a part of this Agreement.
18. ENTIRETY OF AGREEMENT.
This Agreement, including any exhibits attached hereto and any documents incorporated
herein by reference, contains the entire understanding and agreement between the parties hereto as
to the matters contained herein. Any prior or contemporaneous oral or written agreement is hereby
declared null and void to the extent in conflict with any provision of this Agreement. This
Agreement shall not be amended unless executed in writing by both parties and approved by the
City Council.
19. COUNTERPARTS.
This Agreement may be executed in multiple counterparts, each of which shall be
considered an original, but all of which shall constitute one instrument.
IN WITNESS WHEREOF, the undersigned have caused this Agreement to be executed
as of the later date below:
[SIGNATURES IMMEDIATELY FOLLOW ON NEXT TWO PAGES]
Page 8
Tax Abatement Agreement between
City of Fort Worth and Buck's Wheel & Equipment Co.
CITY OF FORT WORTH:
By:
Fernando Costa
Assistant City Manager
Date: s/s4s
ATTEST:
By:
STATE OF TEXAS
COUNTY OF TARRANT §
APPROVED AS TO FORM AND LEGALITY:
te10,;,Cieti
y: aPeter Vaky
Deputy City Attorney
M & C: C-26076 01-29-13
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BEFORE ME, the undersigned authority, on this day personally appeared Fernando
Costa, Assistant City Manager of the CITY OF FORT WORTH, a municipal corporation
organized under the laws of the State of Texas, known to me to be the person and officer whose
name is subscribed to the foregoing instrument, and acknowledged to me that the same was the act
of the CITY OF FORT WORTH, that he was duly authorized to perform the same by appropriate
resolution of the City Council of the City of Fort Worth and that he executed the same as the act of
the CITY OF FORT WORTH for the purposes and consideration therein expressed and in the
capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this r day of
, 2013.
1 .I
EVONIA DANIELS
:, )4 c MY COMMISSION EXPIRES
;. •••� y July 10, 2013
1111� i 1 1l.114 111 111_ .. IIJ III
d 1 1 .. C:i! . its._ _u
Page 9
Tax Abatement Agreement between
City of Fort Worth and Buck's Wheel & Equipment Co.
l:
IS 11
•
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
BUCK'S WHEEL & EQUIPMENT CO., ATTEST:
a Texas corporation:
�1
Gary B r. caner
President
Date: 31(011.13
STATE OF TEXAS §
COUNTY OF TARRANT §
By: 0„,,,
BEFORE ME, the undersigned authority, on this day personally appeared Gary Brawner,
President of BUCK'S WHEEL & EQUIPMENT CO., a Texas corporation, known to me to be
the person and officer whose name is subscribed to the foregoing instrument, and acknowledged to
me that the same was the act of BUCK'S WHEEL & EQUIPMENT CO. and that he executed
the same as the act of BUCK'S WHEEL & EQUIPMENT CO. for the purposes and
consideration therein expressed and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this ts day of
,PrAcot..e.9 2013.
velk
Notary Public in and fo
the State of Texas
Notary's Printed Name
Page 10
Tax Abatement Agreement between
City of Fort Worth and Buck's Wheel & Equipment Co.
$;?r%
SARAH J. ODLE
= MY COMMISSION EXPIRES
November 5, 2015
EXHIBITS
"A" — Map and Legal Description of the Land
"B" — Relocation Incentives Application
Page 11
Tax Abatement Agreement between
City of Fort Worth and Buck's Wheel & Equipment Co.
EXHIBIT "A"
DESCRIPTION OF THE LAND
BEING a 14.189 acre tract of land in the A.F. Albright Survey, Abstract Number 1849, situated
in Tarrant County, Texas, and being a portion of Lot 3, Block 1 and all of Lot 2, Block 1, 820
Business Park, an addition to the City of Fort Worth, Texas, recorded in Cabinet A, Slide 12879,
Plat Records, Tarrant County, Texas. The bearings for this description are based on the west line
of said Lots 2 and 3, Block 1 of 820 Business Park. Said 14.189 acre tract being described by
metes and bounds as follows;
BEGINNING at a 1/2' iron rod with plastic cap stamped "RPLS 4818" found at the northwest
corner of said Lot 3, Block 1;
THENCE North 89°57'00" East, along the north line of said Lot 3, Block 1 a distance of
1208.99 Feet to a '/2" iron rod with plastic cap stamped "RPLS 4818 ' set at the northeast corner
of Lot 3, Block 1, same being on the westerly right-of-way line of Interstate Loop 820, access
road, a public right-of-way;
THENCE South 28°43'00" West, departing said north of Lot 3, Block 1, and continuing along
the easterly line of said Lot 3, Block 1 and along said westerly right-of-way line, a distance of
64.49 Feet to a 1/4" iron rod found at the point of curvature of a non -tangent curve, concave to the
northwest, having a radius of 1780.86 Feet, a central angle of 0°18'35", and a chord of 9.63 Feet
bearing South 28°31'59" West;
THENCE southwesterly, continuing along said easterly line of Lot 3, Block 1, and the said
westerly right-of-way line, and along the arc of said curve, a distance of 9.63 Feet to a 1/2" iron
rod with plastic cap stamped "RPLS 4818" set at the northeast corner of that certain tract of land
described in deed to American National Credit Corporation, recorded in County Clerks File
Number D205143326, Real Property Records, Tarrant County, Texas;
THENCE departing said westerly right-of-way line and continuing over and across the said Lot
3, Block 1, along the northerly, westerly and southerly lines of the said American National Credit
Corporation tract the following courses and distances:
North 87°36'54" West, a distance of 262.36 Feet to a 1/2" iron rod with plastic cap
stamped "RPLS 4818" set;
South 74°44'06" West, a distance of 234.27 Feet to a 1/2" iron rod with plastic cap
stamped `RPLS 4818" set;
South 2°09'44" East, a distance of 223.76 Feet to 1/2" iron rod with plastic cap stamped
"RPLS 4818 ' set;
North 89°13'34" East, a distance of 297.81 Feet to a'/2" iron rod with plastic cap stamped
"RPLS 4818" set on the said westerly right-of-way line, same being the easterly line of
said Lot 3, Block 1, and being the beginning of a non -tangent curve, concave to the
northwest, having a radius of 1780.86 Feet, a central angle of 7°05'39", and a chord of
220.36 Feet bearing South 42°43'59" West'
THENCE along the said westerly right-of-way line, and said easterly line Lots 3 and 2, of said
Block 1, the following courses and distances;
Southwesterly, along the arc of said non -tangent curve, a distance of 220.50 Feet to a 1/2"
iron rod with plastic cap stamped "RPLS 4818" set;
South 46°21'00" West, a distance of 310.72 Feet to a broken concrete highway
monument, and the beginning of a non -tangent curve, concave to the southeast, having a
radius of 845.20 Feet, a central angle of 7°06'54", and a chord of 104.89 Feet bearing
South 42°42'18' West;
Southwesterly, along the arc said curve, a distance of 104.96 Feet to a 1/2' iron rod with
plastic cap stamped "PR:S 4818' found at the southeast corner of Lot 2 of said Block 1,
820 Business Park;
THENCE South 89°22'29" West, departing said westerly right-of-way line and continuing
along the south line of the said Lot 2, Block 1, a distance of 548.33 Feet to a bent '/2" iron rod
found southwest corner of the said Lot 2, Block 1;
THENCE North 0°10'00" East, along the west line of said Lots 2 and 3, Block 1, a distance of
793.70 Feet to the POINT OF BEGINNING, and containing a computed area of 14.189 Acres,
more or less.
FORT 'ORTH
Relocation
Incentive Application
Housing and Economic Development
1000 Throckmorton Street
Fort Worth, Texas 76102
(817) 392-7540
NOJ bdai
• Relocation Incentives Application
[0
General Information
1. Application Information:
Company Name
Company Address
City
eGtott ;ocAndcc..Puns
koicty Tca.-b-c es (kc cjh cAocx-c )
n�V reia.
. bee'n you ull it- load it
Bucvs \A/ nea\ ke QVT. Co
a2r, Cornry\e-RcAlPsi ST
Rco \AlORT h.
Contact Person �..�... A f ,\ \ t I w 1 e i
Telephone Number s k '-7 ,, z 2. e
State " x
Title/Position
Ext.
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Cod
evict Doric Zt112
¥v GVC'
ortvncicui Gt
�d}c aovt
Date
Zip '7Co C 67
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Mobile Telephone Number 1--7 f 1-7 ck cosAl Fax Number 13 r? 3 32 ` g `7
E-Mail Address
S/aNDI;A•@ aucxss \nitneel .Coven
2. New Location of Business: Se � 4-0 � S7Q P-, 12 PC-'Y-
LOt"s 2, 3 B i Ic- I
Address/Location
Conner of n tin. i, yip.G
3. Development requests that will be sought for the proiect (select all that apply):
(` Replat
(� Rezoning
le Variances If yes, please describe
Current Zoning
(" Downtown Design Review Board
(` Landmark Commission
Requested Zoning
51c0 I IJ . Main
5-zot t.'. tict i n
Lug Ylei
TAX A BATEM '1•i
sc. ti SC_t,-tx.:>t Gat-t-s ?et/1-s fcct\c...n cR�Gl2:-
4. Incentive(s) Requested by Area (Please Refer to the Attached Relocation Incentives Policy and Map to
Select the Appropriate Area and Incentives:
Area 3:
Area 2:
Area 1:
* Expedited Plan Review $ Expedited Zoning Process IN 3-year 25% Tax Abatement
fl Expedited Plan Review is Expedited Zoning Process r" 4-year 50% Tax Abatement
fl Release of Certain Liens, please specify
Waiver of the Following Development Department Fees, Please select the fees:
J`- Building Permit F Zoning r- Platting r' Ordinance Inspection r Encroachment F Expedited Zoning
E Fire, Sprinkler, Alarm Permit
f Expedited Plan Review r" Expedited Zoning Process fl 8-year 75% Tax Abatement
rl Release of Certain Liens, please specify
Waiver of the Following Development Department Fees, Please select the fees:
F Building Permit fl Zoning r" Platting r` Ordinance Inspection r Encroachment (-"" Expedited Zoning
(` Fire, Sprinkler, Alarm Permit
Page 2 of 3
,Business Information
5. Business Description:
A. Please provide a brief description of the business
nzucK .iS RED\R;FARTS . % \4 tee\ceA iAtt.1eR Le45e&5A]e_e,
B. Real Estate Development
Real Property.
Size
SF
Cost of Construction $ C a B'M sw. Ztvek
2. Site Development (parking, fencing, landscaping, etc.): Type of Work to be done 'out L- tn. ltq(cr F k5ettl'tcee- wit� \ )remCe 1?ARVVL M&—
Cost of Site Development $ t ,S yy, _. Z rvt 1--PC1\117k✓0A-176e
C. Personal Property
New Personal Property:
Cost of Equipment, Machinery, Furnishing, etc. $
Purchase or Lease ' pa'kL+ kAse
CCU e5 toNt Acb tee
Disclosures
6. Is any person or firm receiving any form of compensation. commission or other monetary benefit based
on the level of incentive obtained by the applicant from the City of Fort V/orth? If :;es, pease explain and
'attach details. kic,
7. Please provide the following information as attachments:
a.) Attach a site plan of the project. 1t4 Deg P.1oPM �t 1r �
b.) Attach a legal description or surveyor's certified metes & bounds description.
c.) Attach a copy of the most recent property tax statement from the appropriate a raisal district for all parcels involved in
the project. <tNct.vpect 4'ot—S0::x2> ►N(. mV\tN
83L i� Lier7 1.ct5.243 K
On behalf of the applicant, I certify the information contained in this application, including all attachments to be true and correct. I further
certify that, on behalf of the applicant, I have read the current Incentive Policy and all other pertinent City of Fort Worth policies and I
agree with the guidelines and criteria state therein.
Printed Name
Signature
C-�-KRLI tBRl\W Neg,
Title
Date
jes
tcl3t
Page 3 of 3
10/29/2012 15:08 8176259978
THE REAL ESTATE GROP PAGE 05
s< `� x' 'r
•
RON WRtGH'r
TARRANT COUNTY
TAX ASSESSOR-001.LEC rox
DATE: 02/14/2012
ACCOUNT: 00041437950
LEGAL 820 BUSINESS PARK
BLK 1 LOT 2
2011 TAX STATEMENT
CANNER; CITCARP INC
PARCEL ADDR@88t 0005101 N MAIN ST
EXEMPTIONS;
LAND VALUE APPRAISED VAL
$5,872 $5,872
TAXING ENTITIES APPRAISED VALUE EXEMPTION
AMOUNT
FTWORTH CITY
TARRANT COUNTY
REG WATER DIST
T C HOSPITAL
T C COLLEGE
EAGLMTISAG ISO
65,872
65,672
66,872
65,872
85,872
65,872
Pay by Credit Card or eCheck
turEtliliTict
In person Only
ilk
•
iAast?gtart}
Pay on Ina with these cards
or by phone at: 017484-1110
0
0
0
0
0
0
TAXABLE
VALUE
65,872
66,872
85,872
65,872
65,872
65,872
100 E, Weatherford, Fort Worth, TX 76196
{817) 884.1100
e-mail.taxoffice(a)tar: ant( u(nity,r <.ui(
web:www,tarrantcounty.toin
IMPORTANT -Legislative Changes
6 Year Comparison an the back of statement.
IMPORTANT -Gambles Legislative&
Comparacl4n de 5 Anos dells del Cobra.
TAX RATE
PER 5100
0.855000
0.264009
0,020000
0.227897
0,148970
1.530000
TOTAL TAXES
SASE TAX
563.21
173.90
13.17
150.12
98.13
1,007.84
2,006.37
•
PENALTY & INTEREST
TOTAL AMOUNT DUE
INCLUDES PAYMENTS RECEIVED
*LAWSUIT HAS BEEN FILED ON DELINQUENT TAXES. CALL 817/884-1051 FOR ADDITIONAL AMOUNT DUE.
CITtARP INC
48729
TAXES DUE
CURRENTLY
563.21
173.90
13.17
150.12
98.13
1,007.84
2,006.31
**YOUR CHECK WILL BE CONVERTED INTO AN ELECTRONIC FUND TRANSFER''
1t tiRN WIZTN Pl$M tNT
1.001 )27683-10
NOTE: LAWSUIT ML 1') AGAINST DELINQUENT TAXES. CALL 617/884-1051,
00041427150 2011
HMI
CITCARP INC
2400 ELLIS AVE
FORT WORTH TX 76164-8140
Ilunidlluulldl�t,Ilsil�,tt►u1lr nlltunikulluluild
00041437950
0000214681
0000218693
PAY THIS AMOUNT
140.44
2,146.81
$2,146.81
DELINQUENT AFTER: 01/31/2012
IF PAID IN
MAR
APR
AMQUNT DUE
2,186.93
2,227.08
1304027
'I ,
0, Pun
Make check payable tc:
RON WRIGHT, TAX ASSESSOR -COLLECTOR
PO BOX 961018
FORT WORTH TX 76161�0018
0000222708 0214201200000
4
10129/2012 15:88 8176259978
01:N7 •.
1its RUN WRIGHT
TARRANT COUNTY
TAX ASSESSOR -COLLECTOR
• 444
•' DATE: 02/14/2012
ACCOUNT; 00041437969
LEGAL: $20 BU5IN✓;$$ PARK
ILK 1 LOT 3
OWNER: CITCARP INC
PARCEL ADDRESS: 0005201 N MAIN 8T
EXEMPTIONS:
LAND VALUE APPRAISED VAL
312,720 312,720
TAXING ENTITIES APPRAISED VALUE
1
FT WORTH CITY
TARRANT COUNTY
REG WATER DIS7
T C HOSPITAL
T C cOtLEGE
EAGLMT/SAG ISD
312,720
312,720
312,720
312,720
312,720
31 2, 720
THE REAL ESTATE GROP PAGE 04
100 E. Weatherford, Fort Worth, TX 76196
(817) 884.1100
e-mart.taxofflce@tarrantcnunty.tom
web wwW.tarrartcounty.com
2011 TAX STATEMENT
EXEMPTION _ TAXABLE
AMOUNT VALUE
0 312,720
0 312,720
0 312,720
0 312,720
0 312,720
0 312,720
Pay by Credit Card or eCheck
In person only
AtasterCara,
Pay online with these cards
or by phone at: E17.$g4-1110
TAX RATE
PER $100
0.855000
0.264000
0,020000
0.227897
0.148970
1.530000
TOTAL TAXES
IMPORTANT -Legislative Changes
5 Year Comparison on the back of statement.
IMPQRTANTF-Camblos Lsglsiativos
Comparaclen do 5 Arias detritss dot Cobra,.
BASE TAX
2, 673.76
825.58
62.54
712.68
465.80
4,784.62
9,525,04
PENALTY & INTEREST
TOTAL AMOUNT DUE
INCLUDES PAYMENTS RECEIVED
*LAWSUIT HAS BEEN FILED ON DELINQUENT TAXES, CALL 817/884-1051 FOR ADDITIONAL AMOUNT DUE.
—OltrstAffPrilciC
48730
�w TAXES DUE
CURRENTLY
T ,673.76"
825.58
62.54
712.68
465 86
417134.62
9,525,04
`'`YOUR CHECK WILL BE CONVERTED INTO AN ELECTRONIC FUND TRANSFER
L00047563-10
NOTE LAWSUIT FILED AGAINST DELINQUENT TAXES, CALL at7t984-1451.
•
00041437989 2011
111
C TCARP INC
2400 ELUS AVE
FORT WORTH TX 70164-8140
lltntrllutatlrllnrlullnlnttllrirrllCrulleu!litrrrlL!
00041437969 0001011181
0001038229
TET{J#N WIfH PAYMgNT
PAY THIS AMOUNT
666, 77
10,191.81
$10,191.81
DELINQUENT AFTER: 01/31/2012
iF PAID IN
MAR
APR
13040134
I I 4 . N
AMOSJNT DUE
10,382 29
10,572.80
Make check payable to:
RON WRIGHT, TAX ASSESSOR -COLLECTOR
PO BOX 961018
FORT WORTH TX 76161-0018
0101057280 U214201200000
M&C Review Page 1 of 2
CTTY COUNCIL AGENDA
Official site of the City of Fort Worth, Texas
Fonr %
Mier
COUNCIL ACTION: Approved on 1/29/2013 - Ordinance No. 20594-01-2013
DATE: 1/29/2013 REFERENCE
NO.:
CODE:
SUBJECT:
C TYPE:
C-26076
NON -
CONSENT
LOG NAME: 17RTABUCKSWHEEL
PUBLIC
HEARING:
NO
Authorize Execution of Tax Abatement Agreement with Bucks Wheel & Equipment
Company for the Construction of an Automotive and Mechanical Repair and Maintenance
Facility on Property Located at 5101 and 5201 North Main Street and Amend Ordinance
No. 20584-01-2013 to Correct Certain Recitals and References to the Reinvestment Zone
Number and to Confirm Previous Designation of the Reinvestment Zone (COUNCIL
DISTRICT 7)
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the execution of a Tax Abatement Agreement pursuant to the City of Fort Worth's
Relocation Policy with Bucks Wheel & Equipment Company for the construction of a facility dedicated
to automotive and mechanical repair and maintenance on property located at 5101 and 5201 North
Main Street; and
2. Amend Ordinance No. 20584-01-2013 by adopting the attached Ordinance that corrects certain
recitals and references to the Tax Abatement Reinvestment Zone number and confirms designation
of the Zone.
DISCUSSION:
Bucks Wheel & Equipment Company (Company) is located at 220 South Commercial Street and is
being displaced due to the Trinity River Uptown Project. As a result of the displacement, the
Company is considering relocating to property located at 5101 and 5201 North Main Street. Under
the City of Fort Worth's Relocation Incentives Policy (the Policy) a business that is displaced due to a
major Infrastructure Project and which relocates to one of the three target areas outlined in the Policy
is eligible to receive certain incentives, including tax abatement. Pursuant to Resolution No. 3390-07-
2006, the City Council designated the Trinity River Uptown Project as a Major Public Infrastructure
Project for purposes of the Policy.
The Company is proposing new capital investment in the amount of $1,500,000 to develop the
site. To enable the development and retain at least 14 full-time positions, the Company has applied
for incentives under the Relocation Policy. The property under consideration is defined in the
Relocation Incentives Policy as Area 3. In accordance with the Relocation Policy, Staff recommends
that the City Council authorize the execution of a Tax Abatement Agreement with the Company
granting a three-year, maximum 25 percent abatement on real and personal property at the site. The
term of the abatement will begin on January 1st of the year following the calendar year in which the
required improvements are completed. The projected value of the tax abatement over the term is
approximately in the amount of $9,812.00.
On January 15, 2013, (M&C G-17789) the City Council conducted a public hearing and adopted
Ordinance No. 20584-01-2013 designating this location as Tax Abatement Reinvestment Zone
Number 86, City of Fort Worth, Texas. However, some of the introductory statements and Section 2
of Ordinance No. 20584-01-2013 incorrectly contained references to Tax Abatement Reinvestment
http://apps.cfwnet.org/council_packet/mc_review.asp?ID=17892&councildate=1 /29/2013 02/28/2013
M&C Review Page 2 of 2
Zone Number 81 and the project related to that Zone. As a result, it is necessary for the City Council
to amend Ordinance No. 20584-01-2013 by adopting the attached Ordinance, which corrects those
references and confirms designation of Tax Abatement Reinvestment Zone Number 86.
The proposed development is located in COUNCIL DISTRICT 7.
FISCAL INFORMATION/CERTIFICATION:
The Financial Management Services Director certifies this action will have no material effect on City
funds.
TO Fund/Account/Centers FROM Fund/Account/Centers
Submitted for City Manager's Office by:
Originating Department Head:
Additional Information Contact:
Fernando Costa (6122)
Jay Chapa (5804)
Robert Sturns (8003)
Maggie Allen (2235)
ATTACHMENTS
121107 Bud Exhibit _ A,pdf
TA Reinvestment_ ore_ _8_6 au 'e WheeLan.t quip _nt_Corr_ectedLdowc
http://apps.cfwnet.org/council_packet/mc_review.asp?ID=17892&councildate=1 /29/2013 02/28/2013