HomeMy WebLinkAbout(0053) TA_REINVESTMENT_ZONE_101.WALSH.PDFORDINANCE NO.
AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE
EXTRA -TERRITORIAL JURISDICTION OF THE CITY OF FORT
WORTH AS "TAX ABATEMENT REINVESTMENT ZONE
NUMBER ONE HUNDRED AND ONE, 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 of Fort Worth's ("City") Tax Abatement Policy,
which was adopted by the City Council to be effective on January 29, 2021 by way of
Resolution No. 5342-02-2021 ("Tax Abatement Policy"), 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 ("Code");
WHEREAS, the City Council desires to promote the development of the area in
the extra -territorial jurisdiction of the City more specifically described in Exhibit "A" of
this Ordinance ("Zone") through the creation of a reinvestment zone for purposes of
facilitating one or more tax abatement agreements as may be found desirable by the City,
Tarrant County, Parker County, or any other eligible taxing unit for the purposes of
supporting new business investment or expansion, as authorized by and in accordance with
Chapter 312 of the Code;
WHEREAS, Rivian Automotive, LLC, or an Affiliate, ("Company") wishes to
expend or cause to be expended at least $2 billion in real property improvements for the
construction of a new vehicle manufacturing facility and associated industrial facilities
located in the Zone, and Company intends to install new taxable tangible personal business
personal property have a value of approximately $3 billion in such facilities (collectively,
"Improvements");
WHEREAS, Company expects that the Improvements will create at least 7,500
full-time jobs once the facilities are constructed;
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Ordinance Designating Tax Abatement Reinvestment Zone Number One Hundred and One,
City of Fort Worth, Texas
WHEREAS, to foster economic development in the Zone, and the City, in general,
including the City's extra -territorial jurisdiction, it is anticipated that the City, Parker
County, Tarrant County, or any other eligible taxing units may wish to enter into one or
more tax abatements for one or more Improvements within the Zone;
WHEREAS, on August 17, 2021, the City Council held a public hearing regarding
the creation of the Zone, received information concerning intended growth and
Improvements proposed for the Zone, and afforded a reasonable opportunity for all
interested persons to speak and present evidence for, or against, the creation of the Zone
("Public Hearing"), as required by Section 312.201(d) of the Code;
WHEREAS, notice of the Public Hearing was published in a newspaper of general
circulation at least seven (7) days prior to the Public Hearing, which satisfies the
requirement of Section 312.201(d)(1) of the Code; and
WHEREAS, in accordance with Sections 312.201(d)(2) and (e), of the Code,
notice of the Public Hearing was also 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.
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 creation of a reinvestment zone under Chapter 312 of
the Code.
1.2. The Improvements proposed for the Zone, as more specifically outlined in the
Public Hearing, are feasible and practical and, once completed will benefit the land
Page 2
Ordinance Designating Tax Abatement Reinvestment Zone Number One Hundred and One,
City of Fort Worth, Texas
included in the Zone as well as the City for a period of more than ten (10) years,
which is the statutory maximum term of any tax abatement agreement entered into
under the Chapter 312 of the Code.
1.3. As a result of designation as a reinvestment zone, the area within the Zone is
reasonably likely to contribute to the retention or expansion of primary employment
and to attract major investment in the Zone that will be a benefit to property in the
Zone and will contribute to the economic development of the City.
SECTION 2
DESIGNATION OF ZONE.
The City Council 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 permitting one or more tax abatements as may be found
desirable by the City, Tarrant County Parker County, or any other eligible taxing unit for
the purposes authorized by and in accordance with Chapter 312 of the Code. This Zone
will be known as "Tax Abatement Reinvestment Zone Number One Hundred and One,
City of Fort Worth, Texas." Any projects considered for abatement by the City, Tarrant
County, Parker County, or any other eligible taxing unit must comply with all applicable
laws and guidelines and criteria adopted by each respective entity, as applicable.
SECTION 3.
TERM OF ZONE.
The Zone takes effect upon the effective date of this Ordinance and expire five (5)
years thereafter. The Zone may be renewed by the City Council for one or more subsequent
terms not to exceed five years.
SECTION 4.
SEVERABILITY.
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 will be and remain
in full force and effect and will not, in any way, be impaired or affected by such decision,
opinion, or judgment.
Page 3
Ordinance Designating Tax Abatement Reinvestment Zone Number One Hundred and One,
City of Fort Worth, Texas
SECTION 5.
IMMEDIATE EFFECT.
This Ordinance takes effect upon its adoption.
ADOPTED AND EFFECTIVE:
APPROVED AS TO FORM
AND LEGALITY:
I:
Tyler F Wallach
Senior Assistant City Attorney
M&C:
ATTESTED BY:
Ronald P. Gonzales
Acting City Secretary
Page 4
Ordinance Designating Tax Abatement Reinvestment Zone Number One Hundred and One,
City of Fort Worth, Texas
EXHIBIT "A"
BOUNDARY DESCRIPTION OF ZONE
Reinvestment Zone No. One Hundred and One will consist of the property described in the
following metes and bounds:
Being approximately 1,927.9 acres situated in Parker County and Tarrant County,
Texas, and being a portion of that certain called 3,802.9-acre tract of land described in
Volume 193, Page 335 (first tract) of the Deed Records, Parker County, Texas, and
being more particularly described as follows:
Beginning the most southerly southeast corner of said 3,802.9-acre tract, same being
in the west line of the Markum Ranch, same also being in the north right-of-way line of
the Texas & Pacific Railroad, same also being generally located SOUTH 15' 34' 27"
WEST, 16,118.43 feet from the most south southwestern corner of Lot 1, Block 2
Walsh Ranch according to the plat recorded in County Clerk's Document Number
D201830249 O.P.R.P.C.T. at the intersection of Walsh Ranch Parkway and Highland
Hills Drive;
THENCE leaving said west line and along said north right-of-way line and the southerly
line of said 3,802.9-acre tract the following courses and distances:
NORTH 770
1500" WEST, 213.89 feet;
NORTH 800
00' 00" WEST, 2,044.45 feet;
NORTH 820
10' 00" WEST, 555.56 feet;
SOUTH 710
30' 00" WEST, 79.17 feet;
NORTH 790
51' 00" WEST, 478.89 feet;
NORTH 820
11' 00" WEST, 327.23 feet;
NORTH 860
51' 00" WEST, 222.23 feet;
SOUTH 890
11' 00" WEST, 222.23 feet;
SOUTH 850
1500" WEST, 184.73 feet;
SOUTH 840
43' 00" WEST, 4,425.71 feet;
SOUTH 050
17' 00" EAST, 73.91 feet;
SOUTH 840
43' 00" WEST, 1,115.83 feet;
SOUTH 790
50' 00" WEST, 329.17 feet;
SOUTH 730
30' 00" WEST, 222.23 feet;
SOUTH 650
34' 00" WEST, 222.23 feet;
SOUTH 590
25' 00" WEST, 222.23 feet;
NORTH 000 30' 00" WEST, 61.12 feet;
SOUTH 570
42' 00" WEST, 2,427.78 feet to the southwest corner of said
3,802.9-acre
tract, same being in an east line of the Dean Ranch;
THENCE NORTH 000 23' 2 1 " EAST, leaving said north right-of-way line and southerly
line and along said west line, 8,466.18 feet to a point;
THENCE leaving said west line the following courses and distances:
SOUTH 860 00' 3 1 " EAST, 2,292.99 feet;
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Ordinance Designating Tax Abatement Reinvestment Zone Number One Hundred and One,
City of Fort Worth, Texas
NORTH 340
24' 57" EAST, 899.03 feet;
NORTH 670
06' 05" EAST, 530.42 feet;
SOUTH 610
053' 08" EAST, 537.42 feet;
SOUTH 050
44' 14" WEST, 443.75 feet;
SOUTH 300
02' 57" WEST, 723.32 feet;
SOUTH 120
30' 06" WEST, 919.83 feet;
NORTH 340
24' 57" EAST, 854.85 feet;
EAST 444.33 feet;
NORTH 300
45' 46" WEST, 242.98 feet;
NORTH 430
20' 39" EAST, 511.23 feet;
SOUTH 480
39' 47" EAST, 553.50 feet;
NORTH 160
20' 58" EAST, 422.39 feet;
NORTH 380
18' 21" WEST, 442.99 feet;
NORTH 110
57' 45" WEST, 146.57 feet;
NORTH 250
18' 12" EAST, 390.94 feet;
NORTH 830
01' 34" EAST, 163.51 feet;
SOUTH 690
06' 50" EAST, 467.48 feet;
NORTH 210
43' 56" WEST, 475.55 feet;
NORTH 510
39' 04" EAST, 248.08 feet;
SOUTH 830
36' 00" EAST, 266.48 feet;
NORTH 140
19' 5 5 " EAST, 13 1. 00 feet;
NORTH 270
3741" WEST, 506.43 feet;
THENCE NORTH 330 57' 3 1 " EAST, 360.66 feet to a point in the herein described
tract, same being in the southerly right-of-way line of Interstate Highway No. 20;
THENCE along said southerly right-of-way line the following courses and distances:
SOUTH 470 46'
00"
EAST, 1,038.68 feet;
SOUTH 640 28'
00"
EAST, 313.21 feet;
SOUTH 470 46'
00"
EAST, 160.00 feet;
SOUTH 160 49'
00"
EAST, 116.62 feet;
SOUTH 470 46'
00"
EAST, 350.00 feet;
SOUTH 640 28'
00"
EAST, 208.81 feet;
SOUTH 470 46'
00"
EAST, 789.12 feet to the beginning of a curve to the left
having a central
angle
of I P 36' 32", a radius of 5,984.58 feet and a chord
bearing and distance
of SOUTH 53' 53' 44" EAST, 1,210.48 feet;
With said curve to the
left for an arc distance of 1,212.55 feet;
SOUTH 590 42'
00"
EAST, 523.34 feet;
SOUTH 530 07'
00"
EAST, 296.93 feet;
SOUTH 440 07'
00"
EAST, 383.70 feet;
SOUTH 430 3l'
00"
EAST, 98.21 feet;
SOUTH 580 22'
00"
EAST, 249.39 feet;
SOUTH 710 48'
00"
EAST, 221.51 feet;
SOUTH 820 50'
00"
EAST, 222.43 feet;
NORTH 82044'00" EAST, 231.74 feet;
NORTH 740 57'
00"
EAST, 354.15 feet;
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Ordinance Designating Tax Abatement Reinvestment Zone Number One Hundred and One,
City of Fort Worth, Texas
NORTH 80" 39' 00" EAST, 264.37 feet;
SOUTH 890 28' 00" EAST, 352.28 feet;
SOUTH 820 56' 00" EAST, 1,089.19 feet;
SOUTH 000 55' 00" WEST, leaving said southerly right-of-way line, 5,272.47 feet to the
POINT OF BEGINNING and containing 83,978,898 square feet or 1,927.9 acres of
land.
Page 7
Ordinance Designating Tax Abatement Reinvestment Zone Number One Hundred and One,
City of Fort Worth, Texas