HomeMy WebLinkAboutOrdinance 20594-01-2013 ORDINANCE NO. 20594-01-2013
AN ORDINANCE AMENDING ORDINANCE NO. 20584-01-2013
DESIGNATING TAX ABATEMENT REINVESTMENT ZONE NUMBER
EIGHTY-SIX, CITY OF FORT WORTH, TEXAS BY CORRECTING
CERTAIN RECITALS AND REFERENCES TO THE REINVESTMENT
ZONE NUMBER IN SUCH ORDINANCE; CONFIRMING
DESIGNATION OF THE REINVESTMENT ZONE; AND CONTAINING
OTHER MATTERS RELATED THERETO.
WHEREAS, on January 15, 2013 the City Council conducted a public hearing pursuant
to M&C G-17789 and adopted Ordinance No. 20584-01-2013 designating property located at
5101 and 5201 North Main Street as Tax Abatement Reinvestment Zone Number Eighty-Six,
City of Fort Worth, Texas; and
WHEREAS, certain introductory paragraphs and Section 2 of Ordinance No. 20584-01-
2013 incorrectly referred to Tax Abatement Reinvestment Zone Number Eighty-one, City of Fort
Worth, Texas and the project related to that Reinvestment Zone; and
WHEREAS, the City Council wishes to correct Ordinance No. 20584-01-2013
accordingly and to confirm designation of Tax Abatement Reinvestment Zone Number Eighty-
six, City of Fort Worth, Texas;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH,TEXAS:
Section 1.
AMENDED RECITALS
That the Recitals of Ordinance No. 20584-01-2013 are hereby amended to read as
follows:
Ordinance Amending Ordinance No.20584-01-2013 Ordinance No. 20594-01-2013
Designating Tax Abatement Reinvestment Zone#86,City of Fort Worth,Texas Page I of 6
"WHEREAS, pursuant to the City Council's adoption on June 12, 2012 of Resolution
No. 4096-06-2012 (the "Tax Abatement Policy"), 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, pursuant to the City Council's readoption on December 6, 2011 of the
Relocation Incentives Policy (Resolution No. 4051-12-2011), the City has included tax
abatement as one of the incentives that may be made available to businesses that are displaced
and must relocate due to a Major Public Infrastructure Project, as that term is defined in the
Relocation Incentives Policy; and
WHEREAS, pursuant to the City Council's adoption on July 18, 2006 of Resolution No.
3390-07-2006, the City Council has determined that the Trinity River Uptown Project, as defined
in Resolution No. 3390-07-2006, 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-,
and
WHEREAS, Buck's Wheel & Equipment Company ("Company") currently operates its
business on property located at 220 South Commercial Street and is being displaced on account
of the Trinity River Uptown Project; and
WHEREAS, Company is considering a relocation of its business to property located at
5 101 and 5201 N. Main St., as more specifically described in Exhibit "A" of this Ordinance (the
Ordinance Amending Ordinance No.20584-01-2013 Ordinance No. 20594-01-2013
Designating Tax Abatement Reinvestment Zone#86,City of Fort Worth,Texas Page 2 of 6
"Zone"), which is located within the area of the City defined by the Relocation Incentives Policy
as Area 3; and
WHEREAS, as a result of Company's relocation to the Zone, Company will qualify for
tax abatement under the Relocation Incentives Policy; and
WHEREAS, on October 31, 2012 Company applied for a real and personal property tax
abatement and certain other incentives from the City under the Relocation Incentives Policy; and
WHEREAS, Company will need to make certain improvements to the property within
the Zone in order to operate its business there, which improvements are more specifically
described in Company's Relocation Incentives Application (collectively, the "Improvements");
and
WHEREAS, on January 15, 2013 the City Council held a public hearing regarding the
creation of the Zone, received information concerning the 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; and
WHEREAS, notice of the Public Hearing was published in a newspaper of general
circulation in the City on January 7, 2013, which satisfies the requirement of Section
312.201(d)(1) of the Code that publication of the notice occur not later than the seventh day
before the date of the public hearing; and
WHEREAS, in accordance with Sections 312.201(d)(2) and (e), of the Code 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;"
Ordinance Amending Ordinance No.20584-01-2013 Ordinance No.20594-0 1-20 1 3
Designating Tax Abatement Reinvestment Zone#86,City of Fort Worth,Texas Page 3 of 6
Section 2.
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 confirms the making of the following findings of fact:
I.I. 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. Designation of the Zone as a reinvestment zone will enable Company to receive a real
and personal property tax abatement that will assist Company in offsetting costs it must
incur solely due to its displacement by the Trinity River Uptown Project and will cause
Company to redevelop property in the Zone for commercial purposes that would not
otherwise occur. Therefore, as a result of designation as a reinvestment zone, the area
within the Zone is reasonably likely to contribute to the 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.
1.3. The hriprovements proposed for the Zone, as more specifically outlined in Company's
Relocation Incentives Application and during the Public Hearing, are feasible and
practical and, once completed will benefit the land included in the Zone as well as the
City for a period in excess of ten (1 Q) years, which is the statutory maximum term of any
tax abatement agreement entered into under the Chapter 312 of the Code.
Ordinance Amending Ordinance No. 20584-01-2013 Ordinance No.20594-01-2013
Designating Tax Abatement Reinvestment Zone#86,City of Fort Worth,Texas Page 4 of 6
Section 3.
DESIGNATION OF ZONE.
That the City Council hereby confirms designation of the property described and depicted
in Exhibit "A", attached hereto and hereby made a part of this Ordinance, as "Tax Abatement
Reinvestment Zone Number Eighty-six, City of Fort Worth, Texas." Section 2 of Ordinance No.
20584-01-2013 is hereby amended to read as follows:
"That the City Council hereby 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 a real property and business personal property tax
abatement, as authorized by and in accordance with Chapter 312 of the Code. This Zone shall
be known as "Tax Abatement Reinvestment Zone Number Eighty-Six, City of Fort Worth,
Texas." This project is eligible for a commercial/industrial tax abatement pursuant to Section 2
of the Relocation Incentives Policy."
Section 4.
TERM OF ZONE.
That the City Council hereby confirms that the Zone took effect January 15, 2013, which
was the effective date of Ordinance No. 20584-01-2013, and will 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.
Ordinance Amending Ordinance No.20584-01-2013 Ordinance No.20594-0 1-20 1 3
Designating Tax Abatement Reinvestment Zone#86,City of Fort Worth,Texas Page 5 of 6
Section 5.
CUMULATIVE NATURE.
That this Ordinance shall be cumulative of Ordinance No. 20584-01-2013, except where
the provisions of this Ordinance are in direct conflict thereof, in which case the conflicting
provisions of Ordinance No. 20584-01-2013 are hereby repealed.
Section 6.
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 7.
IMMEDIATE EFFECT.
That this Ordinance shall take effect immediately upon its adoption.
ADOPTED AND EFFECTIVE: January 29, 2013
APPROVED AS TO FORM AND LEGALITY:
By:
Peter Vaky
Deputy City Attorney
M&C: C-26076
Ordinance Amending Ordinance No.20584-01-2013 Ordinance No.20594-01-2013
Designating Tax Abatement Reinvestment Zone#86,City of Fort Worth,Texas Page 6 of 6
EXHIBIT "A"
BOUNDARY DESCRIPTION OF ZONE
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 I 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 I of 820 Business Park. Said 14.189 acre tract being described by
metes and bounds as follows;
BEGINNING at a V2" iron rod with plastic cap stamped "RPLS 4818" found at the northwest
comer of said Lot 3, Block 1;
THENCE North 89'57'00" East, along the north line of said Lot 3, Block I a distance of
1208.99 Feet to a V2" iron rod with plastic cap stamped "RPLS 4818" set at the northeast comer
of Lot 3, Block 1, same being on the westerly fight-of-way line of Interstate Loop 820, access
road, a public fight-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 I and along said westerly right-of-way line, a distance of
64.49 Feet to a '/2" 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 28131'59" 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 V2" iron
rod with plastic cap stamped "RPLS 4818" set at the northeast comer 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 fight-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 74144'06" West, a distance of 234.27 Feet to a V2" iron rod with plastic cap
stamped "RPLS 4818" set;
South 2'09'44" East, a distance of 223.76 Feet to V2" iron rod with plastic cap stamped
"RPLS 4818" set;
Ordinance Amending Ordinance No.20584-0 1-20 1 3
Designating Tax Abatement Reinvestment Zone Number Eighty-Six,City of Fort Worth,Texas
North 89'13'34" East, a distance of 297.81 Feet to aV2" 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 aV2"
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 comer 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 V2" iron rod
found southwest comer 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.
Ordinance Amending Ordinance No.20584-01-2013
Designating Tax Abatement Reinvestment Zone Number Eighty-Six,City of Fort Worth,Texas
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DATE: Tuesday, January 29, 2013 REFERENCE NO.: C-26076
LOG NAME: 17RTABUCKSWHEEL
SUBJECT:
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 1 st 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
Logname: 17RTABUCKSWHEEL Page 1 of 2
No. 20584-01-2013 incorrectly contained references to Tax Abatement Reinvestment 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.
FUND CENTERS:
TO Fund/Account/Centers FROM Fund/Account/Centers
_...._.. .......__ .
CERTIFICATIONS:
Submitted for City Manager's Office by: Fernando Costa (6122)
Originating Department Head: Jay Chapa (5804)
Robert Sturns (8003)
Additional Information Contact: Maggie Allen (2235)
Logname: 17RTABUCKSWHEEL Page 2 of 2