HomeMy WebLinkAboutOrdinance 17855-10-2007ORDINANCE NO. 17855-10-2007
AN ORDINANCE RENEWING AND RE-DESIGNATING A
CERTAIN AREA IN THE CITY OF FORT WORTH AS
"NEIGHBORHOOD EMPOWERMENT REINVESTMENT ZONE
NO. 5, CITY OF FORT WORTH, TEXAS"; PROVIDING THE
EFFECTIVE AND EXPIRATION DATES FOR THE ZONE AND A
MECHANISM . FOR RENEWAL OF THE ZONE; AND
CONTAINING OTHER MATTERS RELATED TO THE ZONE.
WHEREAS, pursuant to the City Council's adoption on May 15, 2007 of
Resolution No. 3487 (M&CG-15726), the City of Fort Worth, Texas (the "City")
has elected to be eligible to participate in tax abatement and has established
guidelines and criteria governing tax abatement agreements entered into
between the City and various third parties, as authorized by and in accordance
with the Property Redevelopment and Tax Abatement Act, codified in Chapter
312 of the Texas Tax Code (the "Code"); and
WHEREAS, the City Council desires to promote the development of the
area in the City more specifically described in Exhibit "A" of this Ordinance (the
"Zone") through the creation of reinvestment zone for purposes of granting
residential and commercial-industrial tax abatement, as authorized by and in
accordance with Chapter 312 of the Code; and
WHEREAS, on November 26, 2002, the City Council designated the
Magnolia Village Area as a Neighborhood Empowerment Zone by Resolution
Number 2893 (M&C G-13814) to promote (1) the creation or rehabilitation of
affordable housing in the zone, or (2) an increase in economic development in
the zone, or (3) an increase in the quality of social services, education or public
safety provided to the residents of the zone; and
WHEREAS, on November 26, 2002, the City Council designated the
Magnolia Village Area as Neighborhood Empowerment Reinvestment Zone No.
5 by Ordinance Number 15343 (M&C G-13814); and
WHEREAS, in accordance with Chapter 312.203 of the Code, the
designation of a reinvestment zone for residential or commercial-industrial tax
abatement expires five years after the date of the designation; and
WHEREAS, Chapter 312.203 of the Code allows for a reinvestment zone
to be renewed for a period not to exceed five years; and
WHEREAS, the Zone shall to expire on November 25, 2007 and the City
Council wishes to renew the Zone for a period of five years; and
WHEREAS, on October 30, 2007, the City Council held a public hearing
regarding the renewal of the Zone ("Public Hearing"); and
WHEREAS, notice of the Public Nearing was published in a newspaper
of general circulation in the City on October 19, 2007; and
WHEREAS, notice of the Public Hearing was delivered in writing not
later than the seventh day before the date of the public hearing to the presiding
officer of the governing body of each taxing unit that includes in its boundaries
real property that is to be included in the proposed Zone; and
WHEREAS, the Neighborhood Empowerment Zone No. 5 will promote
the creation of affordable housing in the zone and an increase in economic
development in the Zone.
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NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS:
SECTION 1.
FINDINGS.
That after reviewing all information before it regarding the establishment
of the Zone and after conducting the Public Hearing and affording a reasonable
opportunity for all interested persons to speak and present evidence for or
against the creation of the Zone, the City Council hereby makes the following
findings of fact:
1.1. The statements and facts set forth in the recitals of this Ordinance are
true and correct. Therefore, the City has met the notice and procedural
requirements established by the Code for renewal of a reinvestment
zone under Chapter 312 of the Code; and
1.2. That the boundaries of the reinvestment zone shall be the boundaries as
described in Exhibit "A" which is attached hereto and made a part hereof;
1.3. The Zone meets the criteria for the designation of a reinvestment zone as
set forth in Section 312.202 of the Code, as amended, in that the area is
reasonably... likely as a result of the designation to contribute to the
retention or expansion of primary employment or to attract major
investment in the zone that would be a benefit to the property and that
would contribute to the economic development of the municipality.
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1.4. Future improvements in the Zone will benefit the land included in the
Zone as well as the City for a period in excess of ten (10) years, which is
the statutory maximum term of any tax abatement agreement entered
into under the Chapter 312 of the Code.
SECTION 2.
RENEWAL AND RE-DESIGNATION OF ZONE.
That the City Council hereby renews and re-designates the Zone
described in the boundary description attached hereto as Exhibit "A" and made
a part of this Ordinance for all purposes as a reinvestment zone for purposes of
granting residential and commercial-industrial tax abatement, as authorized by
and in accordance with Chapter 312 of the Code. The Zone shall continue to
be known as "Neighborhood Empowerment Reinvestment Zone No. 5, City of
Fort Worth, Texas". The area within the Zone is eligible for residential and
commercial-industrial tax abatement pursuant to Resolution No. 3487.
SECTION 3.
TERM OF ZONE.
That the Zone shall be renewed upon November 26, 2007, and expire
five (5) years thereafter. The Zone may be renewed by the City Council for one
or more subsequent terms of five (5) years or less.
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SECTION 4.
SEVERABILITY.
That if any portion, section or part of a section of this Ordinance is
subsequently declared invalid, inoperative or void for any reason by a court of
competent jurisdiction, the remaining portions, sections or parts of sections of
this Ordinance shall be and remain in full force and effect and shall not in any
way be impaired or affected by such decision, opinion or judgment.
SECTION 5.
EFFECTIVE DATE.
That this Ordinance shall take effect upon its adoption.
AND IT IS SO ORDAINED.
ADOPTED AND EFFECTIVE: October 30, 2007.
APPROVED AS TO FORM AND LEGALITY:
Lnariene 5anaers
Assistant City Attorney
Date: October 30, 2007
M&C: G-15950
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EXHIBIT A
MAGNOLIA VILLAGE NEIGHBORHOOD EMPOWERMENT REINVESTMENT
ZONE NO.S
General Description:
The area to be designated as Fort Worth Neighborhood Empowerment
Reinvestment Zone No. 5 for tax abatement purposes contains 1.68 square
miles of land and is within the area described below:
On the North: Beginning at a point which is the intersection of Henderson
Street and the eastbound service road of Interstate 30 West. Thence eastward
along the eastbound service road of Interstate 30 West to the southbound
service road of Interstate 35W.
On the East: Beginning at the intersection of the eastbound service road of
Interstate 30 West and the southbound service road of Interstate 35W. Thence
southbound on the service road of Interstate 35W to Rosedale Street. Thence
west on Rosedale Street to the UP RR rail lines. Thence southerly along the
UP RR rail lines to the centerline of Lot 1, Block 1, of the Guinn School Addition
subdivision, as recorded in Volume A, Page 6788, 30F3, of the Tarrant County
plat records. Thence eastward along the centerline of Lot 1, Block 1 of the
Guinn School Addition to the southbound service road of Interstate 35W.
Thence south on the southbound service road of Interstate 35W to Allen
Avenue.
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On the South: Beginning of the intersection of the southbound service road of
Interstate 35W and Allen Avenue. Thence west on Allen Avenue to the BNSF
RR rail lines. Thence southerly along the BNSF rail lines to the centerline of
Main Street at Richmond Avenue. Thence west on Richmond Avenue to
Henderson Street. Thence north on Henderson Street to Richmond Avenue.
Thence west on Richmond Avenue to Eighth Avenue. Thence north on Eighth
Avenue to Mistletoe Blvd. Thence west on Mistletoe Boulevard to the FW &
WR rail lines. Thence southerly on the FW & WR rail lines to the southeast
corner of Lot 46, Block 8, Frisco subdivision. Thence west along the southern
property lines of Lots 46, 47, 49, 50, 51, and 52, Block 8, Frisco subdivision, as
recorded in Volume 106, Page 135, of the Tarrant County plat records to the
BNSF rail lines. Thence northerly along the BNSF rail lines to Harrison Avenue.
Thence west on Harrison Avenue to Jerome Street.
On the West: Beginning at the intersection of Jerome Street and Harrison
Avenue. Thence north on Jermone Street to Rosedale Street. Thence west on
Rosedale Street to Forest Park Boulevard. Thence north on Forest Park
Boulevard to southern portion of the UP RR rail lines. Thence easterly along
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the UP RR rail lines to the point where it is directly parallel to the FW & WR rail
lines. Thence southerly along the FW & WR rail lines to Rosedale Street.
Thence east on Rosedale Street to Henderson Street. Thence north on
Henderson Street to Dashwood Street. Thence east on Dashwood Street to
College Avenue. Thence north on College Avenue to Cannon Avenue. Thence
west on Cannon Avenue to Henderson Street. Thence north on Henderson
Street to the eastbound service road of Interstate 30 West, the point of
beginning.
"This document was prepared under 22 TAC § 663.21, does not reflect the
results of an on the ground survey, and is not to be used to convey or establish
interests in real property except those rights or interests implied or established
by the creation or reconfiguration of the boundary of the political subdivision for
which it was prepared."
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Cit)/ of Fort V1/orth, 7"exas
Mayor and Council Communication
COUNCIL ACTION: Approved As Amended on 10/30/2007 -Ordinance No. 17855-10-2007
DATE: Tuesday, October 30, 2007
LOG NAME: 05MAGNOLIANERZ
REFERENCE NO.: G-15950
SUBJECT:
Adopt Ordinance Concerning Renewal of the Magnolia Village Neighborhood Empowerment
Reinvestment Zone No. 5
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RECOMMENDATION:
It is recommended that the City Council:
1. Hold a public hearing concerning the renewal of the Magnolia Village area as Fort Worth Neighborhood
Empowerment Reinvestment Zone No. 5; and
2. Adopt the attached ordinance which designates the renewal of Fort Worth Neighborhood Empowerment
Reinvestment Zone No. 5 pursuant to the Texas Property Redevelopment and Tax Abatement Act, Tax
Code, Chapter 312.
DISCUSSION:
On November 26, 2002, (M&C G-13814) the City Council adopted Resolution No. 2893 to designate the
Magnolia Village area as a Neighborhood Empowerment Zone (NEZ) and adopted Ordinance No. 15343
which designated Fort Worth Neighborhood Empowerment Reinvestment Zone (FWNERZ) No. 5.
According to the Texas Property Redevelopment-and Tax Abatement- Act, Tax Code, Chapter 312,- the
designation of a reinvestment zone for residential or commercial-industrial tax abatement expires five years
after the date of the designation and may be renewed for periods not to exceed five years.
The current ordinance designating FWNERZ No. 5 expires on November 25, 2007, and must be renewed in
order for the City of Fort Worth to be eligible to participate in the NEZ tax abatement authorized by Chapter
312.
According to State Law, in order to adopt the attached ordinance for renewal, five members of the City
Council must vote in favor of adoption.
FWNERZ No. 5 and the Magnolia Village Neighborhood NEZ are located in COUNCIL DISTRICTS 8 and 9.
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that this action will have no material effect on City funds.
Logname: OSMAGNOLIANERZ Page 1 of 2
TO Fund/AccountlCenters FROM Fund/Account/Centers
Submitted for City Manager's Office by: Dale Fisseler (6140)
Originating Department Head: Jerome Walker (7537)
Additional Information Contact: Sarah Odle (7316)
Logname: OSMAGNOLIANERZ Page 2 of 2