HomeMy WebLinkAbout(0018) 20191016_Resolutions 3.pdfResolution: 13-2019 —6
Date: October 16, 2019
RESOLUTION
Board of Directors
Tax Increment Reinvestment Zone Number Thirteen, City of Fort Worth, Texas
(Woodhaven TIF)
AUTHORIZING EXECUTION OF TIF DEVELOPMENT AGREEMENT WITH THE CITY OF FORT WOR7H
FOR SIDEWALK REPAIRS AT WOODHA VEN BOULEVARD AND BRIDGE STREET AS WELL AS REPAIRS
AT BRIDGE STREETAND BOCA RA TON BOULE VARD
WHEREAS, the Board of Directors ("Board") of Tax Increment Reinvestment Zone Number Thirteen, City of Fort Worth,
Texas ("TIF District") desires to promote the development and redevelopment of the Woodhaven area as authorized by the
Fort Worth City Council and state law;
WHEREAS, on May 29, 2008, the Board adopted a Project and Financing Plan ("Plan") for the TIF District, which Plan
was approved by the City Council June 27, 2008, by Ordinance No. 18146-06-2008 and in accordance with Section 311.011
of the Texas Tax Code;
WHEREAS, in accordance with Section 311.010 of the Texas Tax Code, the Board may use TIF revenue only for the types
and kinds of projects set forth in the Plan;
WHEREAS, the Plan identifies public improvements that benefit the general public and facilitate development of the TIF
district, especially corridor improvements and gateway enhancements, as an eligible expense;
WHEREAS, consistent with the Plan, the Board now wishes to enter into an agreement with the City of Fort Worth for
sidewalk repairs at Woodhaven Boulevard and Bridge Street as well as at Bridge Street and Boca Raton Boulevard
("Project"); and
NOW, THEREFORE, BE IT RESOLVED:
Section 1. That the Board hereby authorizes execution of a Tax Increment Financing Development Agreement with the City
of Foil Worth to fund or reimburse the costs of the Project in an amount no to exceed $864,531.00.
Section 3. That the Project must be completed no later than April 30, 2021.
Section 4. That the Chairperson of the Board is authorized to sign this Resolution on the Board's behalf and execute all
necessary documents and agreements to effect this Resolution.
Section 5. That this Resolution shall take effect immediately from and after its passage.
Approved:
Cary Moon, Chair