HomeMy WebLinkAboutOrdinance 19493-12-2010 ORDINANCE NO. 19493-12-2010
AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE
CITY OF FORT WORTH AS "TAX ABATEMENT
REINVESTMENT ZONE NUMBER SEVENTY-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 Council's adoption on June 22, 2010 of
Resolution No. 3895-06-2010 (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, 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 a reinvestment zone for purposes of granting a
commercial/industrial tax abatement, as authorized by and in accordance with Chapter
312 of the Code; and
WHEREAS, Texas Refinery Corporation ("Company"), intends to redevelop
real property in the Zone and intends to expend or cause to be expended at least
$11,250,000 for the redevelopment of an existing building on such property for use as a
cold process mixing and blending operation producing a variety of greases and coatings
Page I
Ordinance Designating Tax Abatement Reinvestment Zone Number Seventy-One,
City of Fort Worth,Texas
("Improvements"); and compliance with certain other commitments that will foster
economic development in the Zone and the City in general; and
WHEREAS, Company has applied for a real and personal property tax abatement
from the City in return for the construction of the Improvements in the Zone and
compliance with certain other employment and spending commitments that will foster
economic development in the Zone and the City in general; and
WHEREAS, on December 14, 2010 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 December 6, 2010, 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;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS:
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Ordinance Designating Tax Abatement Reinvestment Zone Number Seventy-One,
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 property comprising the Zone is underdeveloped, consisting of a vacant
industrial facility.
1.3. 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 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.
1.4. 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.
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Ordinance Designating Tax Abatement Reinvestment Zone Number Seventy-One,
City of Fort Worth,Texas
Section 2.
DESIGNATION OF ZONE.
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 commercial/industrial 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 Seventy-One, City of
Fort Worth, Texas." This project is eligible for commercial/industrial tax abatement
pursuant to Section 4.1 of the Tax Abatement Policy.
Section 3.
TERM OF ZONE.
That the Zone shall take 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 of five(5) years or less.
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.
Page 4
Ordinance Designating Tax Abatement Reinvestment Zone Number Seventy-One,
City of Fort Worth,Texas
Section 5.
IMMEDIATE EFFECT.
That this Ordinance shall take effect upon its adoption.
ADOPTED AND EFFECTIVE: December 14, 2010
APPROVED AS TO FORM AND LEGALITY:
By:
Peter Vaky
Assistant City Attorney
M&C:G-17162
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Ordinance Designating Tax Abatement Reinvestment Zone Number Seventy-One,
City of Fort Worth,Texas
EXHIBIT "A"
BOUNDARY DESCRIPTION OF ZONE
DESCRIPTION of a 5.657 acres of land situated in the L.G. TINSLEY SURVEY,
ABSTRACT NO. 1523. City of Fort Worth. Tarrant County, Texas and being all that
certain tract of land conveyed 10 Panther Industries, Inc., a Texas Corporation, by deed
recorded in Volume 12772, Page 617. Deed Records, Tarrant County, Texas, said 5.657
acres being more particularly described by metes and bounds as follows:
BEGINNING at a I" iron found at the Southwest corner of said Panther tract in the North
line of a tract of land conveyed to the City of Fort Worth and the City of Dallas, Texas, by
deed recorded in Volume 7726, Page 1848. Deed Records, Tarrant County, Texas also
known as the Trinity Rail Express (R.O. W. varies), said iron being in the East line of
North Beach Street (R.O.W. varies);
THENCE N 00%%d 09' 00" E, along the East line of said North Beach Street, 598.14
feet to a 1/2... iron set with Fulton Surveying cap at the Northwest corner of said Panther
tract and the Southwest corner of Lot A, Block I, E. AND M. ADDITION, an Addition to
the City of Fort Worth, Tarrant County, Texas, according to the Plat recorded in Volume
388.62, Page 13. Plat Records, Tarrant County, Texas;
THENCE S 89%%d 57' 56" E, along the common line of said Panther tract and said E.
AND M.
ADDITION, 783.72 feet to a "Y" in concrete found at the Northeast corner of said
Panther tract in the West line of a tract of land conveyed to North Texas Steel Company,
Inc. by deed recorded in Volume 584 1, Page 693, Deed Records, Tarrant County,
Texas;
THENCE S 00%%d 13' 04" W, along the common line of said Panther and North Texas
tracts, 30.69 feet to a I" iron found at the Southeast corner of said Panther tract in the
North line of said City of Fort Worth and Dallas tract;
THENCE S 54%%D 10' 00" W, along the North line of said City of Fort Worth and Dallas
tract, 968.48 feet to the POINT OF BEGINNING and containing 5.657 acres of land.
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTIO approved on 1211412010 ..ar��f.,N6.19493.12.2t�1Q
N:.
DATE: Tuesday, December 14, 2010 REFERENCE NO.: G-17162
LOG NAME: 17TRCREINVESTZONE
SUBJECT:
Adopt Ordinance Designating Tax Abatement Reinvestment Zone No. 71, City of Fort Worth, Texas, for
Property Located in Vicinity of 600 North Beach Street(COUNCIL DISTRICT 4)
RECOMMENDATION:
It is recommended that the City Council:
1. Hold a public hearing concerning the designation of Tax Abatement Reinvestment Zone No. 71, City of
Fort Worth, Texas; and
2. Adopt the attached ordinance that designates Tax Abatement Reinvestment Zone No. 71, City of Fort
Worth, Texas, pursuant to and in accordance with Chapter 312 of the Texas Tax Code.
DISCUSSION:
The proposed Tax Abatement Reinvestment Zone No. 71, City of Fort Worth, Texas, (Zone) is for property
that is located at 600 North Beach Street. The exact boundaries of the proposed zone are described in
Exhibit "A" of the attached Ordinance. Texas Refinery Corporation is considering the redevelopment of the
site for use as a cold process mixing and blending operation producing a variety of greases and coatings.
As required by Chapter 312 of the Texas Tax Code, a public hearing must be conducted regarding the
creation of the Zone. Notice of this hearing was delivered to the governing body of each affected taxing
unit and published in a newspaper of general circulation at least seven days prior to this hearing.
The area encompassing the proposed Zone meets the statutory criteria for designation as a tax
abatement reinvestment zone pursuant to Chapter 312 of the Texas Tax Code 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 City. Further, the improvements sought in the Zone
are feasible, practical and would be a benefit to the land to be included in the Zone and to the City after
any tax abatement agreements which may be entered into have expired.
The term of the proposed Zone will be five years from the date of adoption of the attached ordinance and
may be renewed for periods not to exceed five years each.
Tax Reinvestment Zone No. 71 is located in COUNCIL DISTRICT 4.
FISCAL INFORMATION /CERTIFICATION:
The Financial Management Services Director certifies that this action will have no material effect on City
funds.
Logname: 17TRCREINVESTZONE Page 1 of 2
FUND CENTERS:
TO Fund/Account/Centers FROM Fund/Account/Centers
CERTIFICATIONS:
Submitted for City Manager's Office by: Susan Alanis (8180)
Originating Department Head: Jay Chapa (5804)
Additional Information Contact: Robert Sturns (8003)
Logname: 17TRCREINVESTZONE Page 2 of 2