HomeMy WebLinkAboutContract 44609C17Y �CRETA� L,�� , � �:
GONTRQ►CT N0. .�°'
AGREEMENT TQ PARTICIPATE IN
TAX INCREMENT REINVESTMENT ZONE NUMBER THIRTEEN,
CITY OF FORT WORTH, TEXAS
{WOODHAVEN TI�
This AGREEMENT TO PARTICIPATE IN TAX INCREMENT
RETNVESTMENT ZONE NUMBER THIRTEEN, CITY OF FORT WORTH,
TEXAS ("Agreement") is entered i.nto by and between the CITY OF FORT WORTH,
TEXAS {the "City") and TARRANT COUNTY �TOSPITAL DISTRICT (the
"Hospital District"}.
The City and the Hospital Districi hereby agree that the following statements are
true and correct and constitute the basis upon which the City and the Hospital District
have entered into this Agreemen#;
A. On November 2'7, 2007, the City Council of the City ("City Council")
adopted City Ordinance No. 17889-11-2007 designating certain real property lvcated in
the eastem portion of the City in an area. bounded by Highway Loop 820 on the east and
Interstate Highway 30 on the south as Tax Tncrement Reinvestment Zone Number
Thirteen, City of Fort Worth, Texas, (the "T`�F District"). The TIF District is informally
known as the "Woodhaven TIF". Ordinance No. 17889�11-2047 is hereby incorporated
by reference for all purposes and is attached hereto as Ezhibit "A".
B. Designation of #he TIF District will cause development of property in and
around the TIF District to occur that would not occur otherwxse in the foreseeable future.
As a result of designation of the TIF District, it is intended that public infrastructure for
Woodhaven and for private development projects will be funded. It is anticipated that
other complementary development in the TIF District will follow. This overall
development will result in increased talc revenues and other public benefi�s for both the
City and the Hospital District.
C. Pursuant to Section 311.013{� of the Texas Tax Code, the Hospital
District is not required to pay any tax increment into the tax increment fund of the TIF
District unless zt enters into an agreement to do so with the City. The Hospital District
wishes to enter into such an agreement with the City.
NOW, THEREF4RE, for and in consideration of the cflnditions set forth herein,
the sufficiency of which is hereby acknowledged, the City and the �Iospital District do
hereby cflntract, cavenant and agree as follows:
1. �NCORPORATYON OF RECITALS.
The parties hereby agree that the recitals set forth above are true and correct and
form the basis upon which they have entered into this Ageement.
Hospital District Participation Agreement q�FF��fp6. RECORD
re: Woadhnven TIF yypp�p� p�
Page 1 Cr�� ���r��TA�� I( G l. (� � V� U .����_ m� ZI��
�e li\/i A��� ��,
2.
Tn addition to any terms defined in the body of this Agreemeat, the following
terms shall have the definitions ascribed to them as fallows:
Act rneans the Tax Increment Financing Act, as arnended and as codified as
Chapter 3�� of the Texas Tax Code.
Captured Anuraised Value in a given year means the total appraised value of alI
real property taxable by the Hospital District and located in the TIF District for that year
less the Tax Increment Base.
Proiect Plan means the project plan for the development and/or redevelopment of
the TIF Disfirict, as adopted by the TIF Board and approved by the City Council of the
City, attached hereto as Exhibit "B".
TIF Board means the governing board of directors of the TIF District appointed
in accordance with Section 311.009 of the Act and Section 3 of City Qrdinance No.
17889-11-2007. The Hospital District shall appoint and maintain at least one (1) member
on the TIF Board, and may appoint non-�•oting ex-officio mernbers or staffmeznbers who
shall also be notified of all TTF Board meetings and actions.
TIF District means the certain real properties and boundaries as described in City
Ordinance No. 17889-11-2007, attached hereto as Exhibit "A".
Tax Increment in a given year means the amount of property taxes levied and
collected by the Hospital District for that year on the Captured Appraised Value of real
property ta�cable by the HospitaJ District and locat�d in the TIF bistrict.
Taz Increment Base means the total appraised value as vf January 1, 2007 of all
real property taxable by the Hoapital I7istrict and located in the TiF District.
Taz Increment Fund means thai fund created by the City pursuant to Section
311.014 of the Act and Section 6 of City Ordinance No. 17889-11-2007, which witl be
maintained by the City, into vvhich all revenues of fhe TIF District will be deposited,
in��� �r o(i,l t,��ncitg nf Ta� Tn�r�rn�nt la� �iZg �'it� anr� �� Qtl�ap t�,s�ng .,,,�'�g �;t],
jurisdiction over real property in the TIF District, including the Hospital District, and (ii.)
all accrued interest eamed on the cash balance of the fund.
TIF Ordinanee means City Ordinance No. 1'1889-11-2007, attachetl hereto as
Eachibit "A".
Hospital Disirict Participarion Agreement
re: Woodhaven TIF
Page 2
3. DEPOSIT C?F TAX TNCREMENT.
pursuant to a Resolution duly adopted by the governing body of Tarrant County
on behal� of the Hospital District, which Resolution is attached hereto as Exhibit "C"
and is hereby made a part of this Agreement for all purposes, and specifically subject to
Section 4 af this Agreement, the �Tospitat District hereby agrees to deposit each year
during the remaining term of the TIF District, beginning with the 2012 tax year, eighty
percent (80%) af the Hospita� District's Tax Increment into the Tax Increment Fund up to
a maximum cumulative cflntribution of Two Million Four Hundred Ten Ttaousand Two
Hundred and Seven Dollars {$2,410,207) (the "Ma�tfmum Haspita! District
Contribution"). Such deposits shall be made in accordance with Hospital District's and
the City's standard administrative procedtues relative to all ta�� increment rein��estment
zones administered by the City, but only following receipt of a bi�� from the City that
outlines the City's calculation of the amount of the deposit that is required for that yea�r,
4. LIM[TATIONS ON TAX INCREMENT DEPOSITS ANb ITSE pF FUNDS.
This Agreement is based on the following conditions, and the City agrees and
acknowIedges the Hospital District's right to enforce tiie conditions contained herein by
injunction or any other lawful means in the event one or rnore of such conditions are not
satisfieci.
4.1. Amendment to TIF Ordinance.
The TIF Ordinance designates the boundaries, the eligible real
properties for the calculation o� '�'ax Increment for the TTF District and the
specific participation level for the City. All amendments to the TIF Ordinance
shall be approved by the TIF Board p�rior to approval by the City Council. If the
City Council approves an amendment to the TlF Ordinance different from the
amendment approved by the TIF Board, the Hospital District shall suspend
payment int4 the TIF Fund as described in Section 3 until the amendment is
approved by the goveming body of Tarrant County.
4.2. Certain TIF Dastrict Proiect Costs Excluded.
The Tax Increment deposited intv tbe Tax Increment Fund by the Hospital
District sha11 be used to pay a pro rata portion of a ma�mum of $13,500,000 in
t��r����� �pS�c f�►� inir�ej��r� imYr�►vQm�tc nr n�h� In,�tihl2� i��rny�Z„g�tg a� g�t
forth and identified in the Project Plan attached h.ereto as Eahibit "B" (the
"Magimum Project Costs"). AIl TIF Fund allocations, including but not limited
to any management and administrative cost, must be approved by the TIF Board
in accordance with the Project Plan. If the Project Plan is amended, the Hospital
District sha.11 suspend payment into the TIF Fund as described in Section 3 until
the amendment is approved by the governing bady of 7'arrant County as an
amendment to this Agreernent.
Hospital District Purticipation Agree�nent
re: Woodhar�en TIF
Page 3
4.3. TIF District Eg ansion.
As defined, the TIF District sha11 includ� real properties located within the
b�undaries as described in the TIF Ordinance. If the TIF Distnict is expanded, the
Hospital District is not required to deposit into the Tax Increment Fund any Tax
Increment generated from properties in the expanded area unless participation in
the expanded boundary area is approved by the goveming body of Tarrant
County as an amendment to tlus Agreement. Additionally, the Tax Incxenaent
deposited into the Tax Increment Fund by tlie Hospital District may not be used
for any permissible project costs in any portion of the expanded area of the TTF
District unless apprvved by the governing body of Tarrant County as an
amendment to this Agreement.
, �
This Agree�ment shall take effect on the date as of which both parties have
executed it and shall expire upon expiration or termination of the TIF Dis#rict, which
currently is the earlier of (i) December 31, 2028 or an earlier termination date designated
by Qrdinance subsequently adopted �y the City Council of the City or (ii) the date on
which all project costs of the T1F District, including, but nr�t limited to, ta7c increment
bonds and interest on those bonds, have been paid or otherwise satisfied in full, (��i) t�he
date on which the Iviaxiinum Hospital District Contribution is reached, or (iv) the date on
which the Hospital District's pro-rata portion of the Maximum Project Costs, including,
but not limited to, tax increrneni bonds and interest on those bonds, have been paid or
otherwise satisfied in full.
b. TIF �'UND ,ACCUUNTING.
Nv later than July 1 of each yeax �ollowing execution of this Agreement, the City
shall provide the Hospital District wi#h an annual accounting of the fisnds deposited to
and disbursed irom the Tax Increment Fu�ad, including accrued interest. After aIl project
costs of the TIF District have been paid or at the time of the expiration of this Agreement,
any funds remai.ning in the Tax Increme�zt Fund following the final annual accounting by
the City shall be paid to t�ose taxing units participating in #he TIF District in proportion
to each taxing unit's share of the total arnount of Tax Increment deposited into the Tax
Tn�r��t �ut?S�.
7. RESPONSIBIX,TTY FOR ACTS.
T'he City and the Hospital District shall each be responsible for the sole negligent
acts of their offieers, agents, employees or separate contractors. In the event of joint and
concurrent negligence of both the City and the Hospital District, responsibility, if any,
shall be apportioned comiparatively with the laws of the State of Texas, witl� the
understanding that neither party waives any govercunental pawers or imrnunities or any
other defenses available to each individually.
Hospital District Participation Agreemc�nt
re: Woodhaven TTF
Page 4
8. NOTICES.
All written notices called for or re�uired by this Agreement shall be addressed to the
following, or such other �arty or address as either party may subsequendy designate in
writing, by certified mail, posta,�e prepaid, or by hand delivery:
City:
City of Fort Worth
Attn: City MaIIager
10U0 Throclrnnorton
l�
Fort Worth, TX 76102
Tarrant County:
Tarrant County
Attri: County Adminish�ator
100 E. Weatherford, Suite 404
Fort Worth, TX 7602I
Tarrant County Hospital District:
JPS Health Network
Attn: PresidendCEO
1500 S. Main Street
Fort Worth, TX 7b104
with capies to:
the City Attorney and
Housing and Ecanomic Development
Director at the same address
9. NO WAIVER,
The failure of either party to insist upon the gerformance of any term or provision
of this Agreement or to exercise any right ganted hereunde�r shall not constitute a waiver
of that party's right to insist upon appropriate performance or to assert any such righ# on
any future occasion.
10. VEI�UE AND JURISDICTIO�T.
If any action, whether real or asserted, at law or in equity, arises on the basis of
any rr�Y?sioM �f +�;s Agr�e�:ent, ���n�we f�* s�.���: ac�iQu s��? !i: :� state eat:.**� l�cat�� i�„
Tarrant County, Texas or the United States District Court for the Northern District of
Texas — Fort Worth Division. This Agreement shall be eonstrued in accordane� with the
laws of the State of Texas.
11. NU THIRD PARTY R.IGHTS.
The provisions and conditions of this Agreement are solely for the benefit of the
City and the Hospital District and are not intended ta create any rights, contractual or
otheiwise, to any other person or entity.
Hospitel Districk Participation Agreement
re: Woodhaven T1F
Page 5
12. FORCE MA3EURE.
The parties shall exercise every reasonable effort to meet their respective
obligations as set forth in tlus Agreement, but shall not be held liable for any delay in or
omission df perfor�mance due to force majeure or other causes beyond their reasonable
control, including, but not limited to, compliance with any government law, ordinance or
reguiation, acts of God, acts of omission, fires, strikes, lockouts, national disasters, wars,
riots, rnaterial or labor restrictions, transportation problems and/or any other cause
beyond the reasonable cc7ntrpl c�f either party.
13. INTERPRET'AT�ON.
In the event of any dispute o�er the meaning or applicataon of any provision of
this Agreement, this Agreement shall be interpreted fairly and reasonably, and neither
moxe stxongly for or against any party, regaxdless of the actual drafter of this Agreement.
14. CAPTIONS.
Captians and headings used in this Agreement are for reference purposes only and
shall not be deemed a part af this Agreement.
15. ENTIRETY OF AGREEMENT.
This Agreernent, incl�ding any exhibits attached hereto and any documents
incorporated herein by reference, contains the entire understanding and agreement
between the City and the Hospital District as to the matters contained herein. Any prior
or contemporaneous oral or written agreement is hereby declared null and void to the
extent in conflict with any pro�ision of this Agreement. Notwithstanding anything to the
contrary herein, this Agreernent shall not be amended uniess �ecuted in writing by both
parties and approved by the City Council of the City in an open meeting held in
accordance with Chapter 551 of the Texas Government Code.
16. APPROVAL AND EXECUTION.
In accordance with Section 311.013(f 1) of the Texas Tax Code, the Tarrant
County Commissioners Court may act on and enter into tk�is Agreement on behalf of the
Hosp�t,�1_ L�istr�ct.
17. COUNTERPARTS.
This Agreement may be executed in multiple counterparts, each of which shatl be
r,nnsidered an original, but all af which shall consfiitute one instrument.
Hospitttl District Participation Agreement
re: Woodha�•en TIF
Page 6
EXECUTED as of the later date below:
CITY OF FORT WORTH, TEXAS: TARRANT COUNTY
on behalf of the
TARRANT COUNTY HOSPITAL
DISTRTCT:
By: � B
Y�
�is �,.+�a`��t� S"I�, B. Glen Whitley
Assistant City Manager County J�udge
Da
AT
:
APPROVED AS TO FORM / LEGALITY: APPROVED AS FORM*.
B ' By:
Assis t City Attorney ssist istxict Attorney
M&C: � � � S ��, (( �-� �o �-- COURT ORDER NO: L J ��
-`' By law, the Dfstrlct Attorney's O�ce may only advrse or approve contracts or legal dncumenfs on behalf of its
clients. It may not advtse or approvc a contract or legal document an behalf of other parh'es. Our vie►t� of thrs
cfocument was co►tducted salely from the legal perspective of our cllend. Our approval of this document was ofJ'ered
solely for the �en ,RI o,�Qur client, Othsr pa: ties sh�uld net ; e� cn this ap�roval and s6:culd seek ne•riew and r�pro•ra!
6y their oxni respectivz attorney (s).
Hospital District Parfieipation �lgreement
re: V4'oodhaven T1F
Page 7
OFFICIAL REC�Rp
CI7'Y SECRE�'�FBY
�"B'a VYO��'I�,1'X �
EXHLBIT "A"
URDINANCE ESTABLISHING FORT WORTH TIF DISTRICT # 13 A,ND
THE BOUNllA►RIES OF THE TIF REINVESTMENT ZONE
ORDIN'ANCE N4.17884-11-2007
AN ORD�iANCE AESIGNATING A CERTAIN CON'xIGUOUS
GEQ�RAPHiC AYtLA IlY THE CPFY O�' F4RT WORTS AS "TAK
INCR�'N�N'� X2]�Q�ESTM�NT ZONE NUMBER THIRTEEN,
CI'I'Y OF FORT WORTH, T�XAS"; CREATiNG A BUAR� OF
DIRLCTQRS FQR TH� ZONE; P�tOVTS1Il�TG THE EFFEC�i VE
AND T�;12IVIIlVA3'ION DA'I'ES �'�R '�E ZONE; F.STABiTS�IING
A TA�X ]NCREMENT FUND FOR •THE 7�NE; ,A,1�tD
CUNTAIN'IN� OT�� MATTERS RELATED T� THE Z()NE.
WHEREAS, ihe Ciiy Counc�l desaxes to promofe the developmenf of Iand in that
certain contiguous geogrz.phic area in the City w3uch is more specifically described 'zn
E�h�bii "A" of this Ordinance {the "Zome'� through the ereation of a new rein.vestment
zone as authorized by and in aecozdance with t�e Ta�c Inerement Financing A.ct, codified
at Cb.apter 311 of the Texas Ta�c Code (the "Code"); and
W$ER�AS, on or aboui September �4, 2007 the Ciiy provided written noiice ta
the governin� body of each taxzng 1mi.t tha� levies real property taxes in the pmposed
Zone of (i) the City'S intent to e5ta�7�15I1 'the Zone; (i.z) a description af the b�undaries of
the Zone; (iii� the City's tenta�ive plans for development of the Zone; and (iv) an estimate
of the general impact of tbe Zorze on pzoperty values and tax revenues; and
yV3�'JCR�+ AS, in accorda.nce with the requirement imposed by Section 311.003{e)
of tile Code, the City pro�vided sucb. wzitt�z� notxce more th� sixty (60) days prior to the
date of ihe public hearing conducted pursuant to Sectzon 31 ]..003(c) of the Cade; and
WS�EREA�, the Ciiy has pre�ared preliminary project and fina.ncing plans for
the pzpposed Zoue and provided a copy of those plans to the governing body of eaah
iaxing wai.t thai levies taxes on real propezfi.y in the Zone, as required by Saction
311A03{b) of the Code (the "Prelibainary Fl�aus"); and
Pagc 1
Ordinance Dtsignaiing Tax Inorcmcnt 12einvesRnent Zone Ntunber `Chirteen,
City of Fort Worth, Texas
WNFIEREAS, in accozdance wi#h Sec#aon 311.003(f} of the Cede, onNo�vernbex 6,
200'1 t}ie City made a si.ngie formal presentation to tlYe governing bc�y of each cow�iy
and school district fhat levies real property iaxes in the proposed Zoz�e, as agreed to in
w�riting by the Fort �Vorth Independent School T�ishict, which presentation� among othcr
things, included (�) a descziption of the proposed baundaries o� the Zone; (ii) tb.e City's
tentative plans fo� developmant of the Zone; and (iii) an estimate of the general impact of
the Zone on properiy values and tax revenues; and
VV: +AS, on November 27, 2Q07 tb.e City Council held a pubiic heflrina
regardi.ng the creatit�n of fihe Zone and its benefiia to the City and to property in the Zone
and affo:rded a reasonable oppartunity for (i) all interested persons to speak fox• or againsi
th� creation of the Zone, i�s boundaries or the concept o�tax incremeni �.nancin8 and {ii)
owners af real pzoperty in the propos�d Zone to pxotest znclusion of their property in the
Zone, as required by Sections 3� 1.003(c} and (d} of the Code; and
V�R�AS, notice of the publio hear�ng was publishtd in a newspaper of
general circulation in tbe Cifiy an November 19, 20Q7, whieh satisfies t17e raquirement of
Sect�on 31i.003(e) of the Code tha# �ublicat�on of the notiee oceur not later fihan the
seventh day bef�re ihe date of the publi� hearing;
NQW, THE�.tEFORE, BE TT ORD.�NED BY THC C�TY COUNCT�. ()R
'x','� C� L�F �Q?RT '�QRTH, TEXA.S:
Page 2
Ordinance bes�gnating Tex Increment Tte'sn�asticunt Zone Number'Ihirteen,
City of k�ort VJorth, Tex�s
Section 1.
F�.NDErIGS.
That after revie�v,►ing all information before it regarding the establishment �f the
Zone and after conduGian.g a publie hearing regarding the creation af the Zone and its
benefits to the City and to property im the 2,one and affording a reasonable opporiunity
for (i) alt� interesied persons to speak fox or agai.nst t}�e creation of the Zone, its °
boy.ndaries ox the concept of tax sncre�ent fimancing and ('ix) avvners of real property in,
the proposed Zone to protest inclusion of #heir property in the Zone, the City Co�cil
hereby inakes the following findrngs of faet:
1.1. Ti2e 5tate2xl�r,tts a11d f�GtS Set foTt2]. i31 tlie �eCitals OP taii5 Ordinance ate txUe and
correct Therefoxe, the City has me# the notiCe and pxocedural requirements
estahlishecl by the Code fox crsation of a reinvesbnent zane under the Code,
1.z. The Zone consisis of a�prax.imately 1,� OD acres of land and the azea wi.thin the
Zone is contiguous.
1.3, Tbe overall existing properties within the Zone are depressed and the area
encflmpassed by the Zone has been in a generel state o£ economic decline �'or the
past twenty years.
1,4. The Zone Iacks essential anfrasl:nu�.itre to sustain viable new development,
zncluding but not limited. to, water, se�ver, drai�aage, roads and sidewalks.
X.5. Based on the facis set forth in Sections 1.3, and 1•.4 here�o� as well as on alI other
information provided to and/or known by the City Council wi.th respect to the area
within the Zone and the area in the vicinity of the Zone, ihe Ci#y Counezl hereb�
Page 3
Ordinance Designating Tex Inarement Reinvcstment Zone Numb�r'Ihirteen,
City of Fort Worth, 'Cexas
�nds that development of the Zone will not occur solely through private
investm�nt in the fbreseeable firivre.
l.b. Teking al.l facts inio consideration, the area wittun. the Zone substaniiall.y impairs
and a�rests the sound growth of the City and con�stitutes an economic lisbility and
a menace to the public Jzealth and safety because o£ (i) a substautiai nunaber of
substandard, deteriorated and deteriorating structures; (ii) the predomi.n$nce of..
inadequate sidewalk and sireet layouts; {iu) faulty lot Xayout in relatzon to size,
adaquacy, aceessibility aud useft�n.ess; (iv) unsanitary and unsafe eonditions; (v)
the deterioration of site and other improwements; and {vi) conditi.ans that
endanger iife and properiy by fire or other cause. TherQ�ore, the area within the
"Zone meets the criteria for designaixon of a reinvestmeni zone and saiisfies'the
requiremenis of Section 311.fl05(a){l) of fhe Code.
�,7. Na more than ten percent (10%} or less of the pxaperty in. the Zc�ne is used
currently for residerzt�al purposes; as specified by Sectioza 31 r.006 oithe Code.
1.8, Aecording to th.e most recent appraisal roll of the Cify, the total appraised value of
all taxable real properly in the Zone and 'va existing zeinvestrnent zones in the Gity�
does not exceed fifteen perceni (15%) of the #otal a�praised value of taxa�le reai
properry in ihe City and in indust�ial d.istricts creaied by the City, if any,
1.9. The Zone does not contain more tl�an fifteen percent �IS%) of the total appraised
vaiue of xeal �xoperty taxabie by any county or scinooi district.
page 4
Ordiaance Designating Tax incrcmcnt Iteinvcstment Zone Number Thirteen,
City af Fort Worth, T'exas
Secfion 2.
DESXGT�IATION i3F NEW ZONL.
That the City Coun.cil hereby designates the Zone described. in the bound�ry
description a�zd depicted �n the map, both attached hereta as Exhibit "A" aad mado a
part of this Ordinence �ar alI puiposes, as a reinvestmen.t zone Pt�rsuant ta and in
accordance with the Code. This re9nvesiment zor�e shall be known as `.`Tax Tncxement
Reinvest�nent Zone Number Thixteer�, Czty of Fort VJarth, Texas."
Section 3.
ZONE BOARA �� DIXtECT0�5.
That a board of directoxs for t�e Zone {"Board") is hereby created, 'The Board
shall consist of eleven (11) members who sha�l serve for terms a£two (2) years each. Of
these eleven (11} xnembers, each taxing unit other than the City that levies taxes on real
property in. the 7,o�e may, but is not required ta, appoint onE (1) member to the Boara
Af�er each taxing unit other than the City designates to the City either the name o£ the
me�n.ber that the taxiz�g 'ar�it wishes to appoint or the fact that tb.e iaxing uni# wishes to
waive its righ# to appoizxt a member, th.e City Council shall appoint ^whatevez �umber of
m�embers are necessary to fill il�e remaau�aing positzons on the B�srd. Such mernbers may
be membez�s of the Czty Council.
Section 4.
'i'�RM OF ZONE.
That the Zone sb.all take effect imm.ediately upoz� the adoption of this flxdine�ce
and #emlinate on� the ear�er o£ (i) December 31, 2028 oz� an earlier term.ination date
Pago 5
Ordinance l�esignating Tax Incremeni Reinvestment Zone Number Thideen,
City of Fort Worth, Texas
designated by an ordinance adopted afier the effective date of tbis Ordinance or ('u) the
date on which all project cosis, tax increment bands and interest on tb.ose bonds have
been paid or othert�vise satisfied in full.
SecHo� 5,
DETE�2MXNNA'X'�UN OF TAX Il�TCREMEN`� BASE.
'Z'hat the tax increment base for #he Zane, as de�ined by Section 311.012(c) af the
Code, shall be the total apprai.sed value of all zeat properiy in the Zane t�able by a
taxing u.�it as of J'anuary i, 2007, which is the year in which the Zone was designa#ed as a
reinvestment zone.
Sect�o�a 6.
TAX �NCREMENT FUND.
That a ta�c increment fund for the Zone (the "TTT' Func�") is hereby established.
The TIF Fund may be divided into additional accotuits and sub-a�caunts authorized by
resolution or ordinance oi the City Colmcil. Tb.e T'�' Fund shall consist af (i} the
�escentage of t�e #a� increment, as defined by Section 3 x l.d 12(a) of the Code, that each
taxang unit whioh levies real property taxes in the Zone, other than the City, ha,s elected to
dedicate to tk�e TIF Fund pursuant to an agreemeu# wi.th the City authurized by Section
311.013(� ofthe Code, plus (ii} the City's cantribution a£one hundred percent (�00%) ot'
the City's ta7c increment, as de�ined by Section. 311.012(a) oi the Code, subjeet to any
binding agreement executed at any time by the City that pledges an amount of legally
available City funds whose caicula�ion is based, in whole or in par� an payment to or
Page b
Ordinartce Designating Tmt Tncrement Reinves�►ent 7ane Number Thirtean,
City ofFort Warth,'Cexes
receipt by the Ciiy of a�y portion o� such #ax incremen� The T�F Fund shall be
mai.ntai�ned in az� �ccount at �e depository bank of the City and shall �e secured. in the
manner prescribed b� Iaw for Texas ci#ies. R.evenues in the TIF �`und will be used solely
in accordance wxth Section 311.014 nf the Code.
Section 7.
T,AX TNC�MENT AGREEMENTS.
That, pursuant to Secfio�s 311.008 and 311.013 of the Code, the City Manager
and City Attorney aze hereby authorized to exe�ute and deliver, for end on be�a�,f of t�e
City, tax increment agxeements with taxing unit� that levy real pznperty taxes iz► the Zone.
Section S.
SEVERA�BILITY.
Thai if any �ariion, section ar part a� a sectioz�. oi this Ord.inance is subsequently
declared in.v�lid, inoperative or vnid for any reason by a eourt af competent jurisdiciion,
the remaini.ng portions, sections or parts of sections o£ this Ordinance shall be and remain
in fi�l force and effect and shall not in any way be impaired or affected by such decision,
opanion ar judgment.
Section 9.
�DIA.TE EF�`ECT.
That this Ordinance shall talce effeet and be in fuli force and ef�ect from and after
its adoptivn.
Page 9
Ordinance Designating Tax Increment Tteinvestrnent ZoneNumber'�'hirteen,
City of Fort Worth, Tcxas
arm � � so axnAn�v.
ADO�TED ANA EFFECTNE: November 2, 20�
A.PPR.OVED AS TO FORM AND LEGALITY:
i ���1� ' �/ �����/1
� /
:i� �wua�
. � �-
Date: Navembex 27 2007
M&C: G-15482
P�� s
Ordinance Designatio8 Tax Incremettt Reinvestment Zone Number Thirtee�,
City of Fort Worth, Tcxas
�:11:
DESCR�'%'ION AND DEPICTdON OF '�'H�E ZO1�TE
The tracts to be designated as Tax Increment R.einvestment Zone Numher Thuteeu, City
of Fort W orth, Texas far ta� incxemeut �inan.cing purposes are depzated in the
accompansring map and are morc part?cularl� descri.bed by the following metes and
bounds:
�oliffcai Subd'rvisiou Description of Proposed'�TR 13 (R'noc�haven)
A i�act of land out of the, the W. 7. Baker Suxvey, Abstxact rTumber 101, the J. Broalanan
Survey, Abstract Num.ber i 02, the N. Burton Survey, Abstract Number 244, the J. H.
Cannor Survey, Abstract Number 285, the P. E• Coleman Survey, Abstract Number 372,
the D. M. Heims Survey, AbstractN�ber 812, E. ranes Survey, Abstraci Number �4�,
the H. P. Lsrgeut Survey, Abstra�ct Number 960, tb.e �94i'�lliam N1ann Survey, Absiraci
Number 995, tha George Ivlain Survey, Abstraci Number 1097, the X. F. Reeding Survey,
Abstract Number J.302, tt�e W. R. Reeder �urvey, Abstract N�maber 1303, the R.
Robinson Survey, Abstract Number 13 i5, ib.e VJ. W. R.ay Survey, Abstract Number
1353; the E. G. B. William.s Survey, Abstractl�umber 1�69, the W. Triznble Survey,
Abstract Number 1521, and tha R. Tay�or Survey, Abstract N'umber 1561;
BEGII�N[�TG at the intersection of fihe west line af said �Jones Survey with the nnz�.
�igbt�of wa� of Interstate �iighway 3Q;
THENCE with said west ti�n.e, Nortlz, to an.d aloug the �vvest line of said Brockman Survey,
sozx�e 3430 fae�, to the centerl.ine af Old �tandol Mill Road;
'I'HENCE with said centerline, So� 84 degrees 30 minutes E�st, some 450 feet to its
intersect�on with the west line of tb.af c�rtai.n tract af lan.d described by deed reeorded in
Volume 9236, �'age 157, beed Records, Tarran.t County, Texas;
'�NCE with said line, North, some 260 �eefi to its northwest corner.
THENCE with the north iine of said traet, South 8b degrees �0 nai�utes East, same 560
�eet, to the southeast coruex of fb.at ceziain tract o� land described by deed r�corded in
V�lume 12871, Page 510, Deed Re�ords, Tarrant County, Texas;
'FHENCE with the east line of said tract, North, same 410 �eet, to the so�th bank of #he
VJest For�C of the Trinity River;
THENCE with said souih bank, Northeas�erly sorzze 2280 feei, to the northwest corner of
that certai.n tract o� land descr�bed b� deed recorded 'ua Volume 8938, Page 466, Deed
Records, Tarrant Couniy, Texas;
Ordinance Designating Tax Tneremcnt Reinvestrnent Zonc Numbcr �teven,
City ofFort Worth, Texss
'I'HE%tCE with the north lzne af said tract, North '72 degrees 30 mi.nutes East, some 560
feet, to the west line of said Reed'vng Survey;
T'H��*ICE with said line, South, some 200 feet to zts interseetion with the northwestez�y
lane o� tbat certain tra.ct of land, known as Tract 2L out of said Reeding Survey, describ�d
by deed reaarded in Volunue 16775, Page 133, Deed Records, Tarra.nt Count�', Texas;
THENCE with said Iine snd the nartheasterly Iine of said tract, Northeasterly, and
Soutb.easferly, some 740 feet, to the north corner oiLot IB, B�ock 100, R.iverbend
Estates;
THENt;E with the west and sauth lines �f said Lot, some 470 feet, to said norCbeasterly
line of said Tract 2L;
'THFNCE wi.th said line, Southeasterly, same 944 feet, to the south right-o� way of �orest
River Drive;
T�NCE wit1� said rigl�t-flf-wap, North 55 degrees 30 min�tes East, some 6i0 feet, to xts
intersection witJ:i the west line of Lot 5, Blook 1, Riverehase Addition;
'I'I�NCE with said izne, Sout]aeasterly; some 49U feet, to the northwest corner of Block
25 of Woodhaven Country Club �states;
T�-IENCE with the west line of said Bloc�t, Southerly, some 1280 feet, to the nort1�.'west
cazaer o£Lot IUR Woodhaven Golf Villas;
THENCE with fhe west line of said Woodh��ven Golf'Villas, Sout�erl� and Easterly,
some 3 QO feet, to the west ri.ght�of-way of Putter Dzive;
Ti�NCE with. saad r�giit-of-way, �aut11, some 40 feet, to tb.e most east northeast coruer
of Lot 1 S;
'�NCE with thc west l.ine a� said WoQdliat+en Golf Villas, Southerty arrd Easterly,
some S9Q feet, ia the southwesterly right-of �vay afPutter Driv�;
THE%TCE with. said right�of-way, South 20 degrees East, some 10 fe.�t, to the most nortll
comer of Lot 1N;
TFiENCE with t�e west, sout}� and east lines of said 'W�oodhaven Gro1f VilIas, Southerly
Easterly and Nurtheriy, some 860 feet, to tb.e south rigt�t-of-way of Oak�ont Lane;
THENCE with said right-of-wa.y, South 79 degrees East, some 70 feet, aud South 88
degrees 30 m.intztes F..as#, some l. J.0 fe�t, to tb.e most northwest corn.ex of Block 20 0�
Woodhsven Country Clr�b Estates;
Ordinance Designating Tax Increment Reinvestment Zone Num6er Eleven,
City of Fort Worth. Texss
THENCE with the west line of said $lack, �outherly, to and atong the north, w�st a�d
south lines of Block 1� a�Havenwood Golf Villas, and to snd a1o�g the east lina of said
Block 20, some 22Q0 feet, to the southwest right-af-way of Oakmont Lane;
THENCE wit� said righi-of-way, So� 3U degrees East, some SO feet, and South. 21
degrees 30 minutes East, some 90 Feet, and South }.3 degrees East, some 30 feet, ta the
most z�orthesst conne� of Bloc� 9, Woodhaven Country Club Estatss;
THENCE �with the most north, west and north line af said Block, West, Southerly, and
West, sorne 200� feet, to iis intersection with a line l.a feet northeasterly af the
sottthwesterly right-of way af Cvuntsy Club Lane;
T�-T.ENCE with. said line, Northwesterly, some 900 �eet, to its intersection wit1� ihe north
li.n.e o�Lot 39, Block 6, "Woodhaven Country Club Estates; •
THENCE to snd along a norkii, a west, and a southwesterly liz� oi said Block, West,
South, and Southeasterly, some 500 feet, to its intersec�zon with the southv,resterly right�
of-way of Country Club Lar�e;
TKENC� v,+ith the southwestexly right-of-w�.y of Country Club S�ane, So�th 38 de�'ees
East, some X40 feet, ta the northeast corn�r of Lot 28, of said BlocJ� S;
'THENCE with the a north, mnst west and most south. line of said Block, West, Soatherly,
and East, crossing T�oral Z7zive, and to an.d aloA� the south line of Block 7, crossing
Country Club Lane, and to and along tbe svuth and southeast Iine of $Iock 8, crassin.g
Oakland �'lills Drive, �d to and along tJae southeast and north �ine of Block 1 a, some
7400 feet, to its intersectian �a�ith tha nartheast right-�f way of Oakzu.ont T.,aue;
'�'�NCE with said right-of-wa�, North 1 S degrees 30 minaies West, so�e l QO feet, to
the southeast corner of �lock 22;
THENCE rvith the east, north, wesi Iine of said Biock, Norih, Wesi, and South, some
5500 feet, to its intersecfian w'sth the nflrth zight-of-way of Oalcm.ont Laz�e;
THENCE wit� said right-o£-way, North IS degi�ees 30 minutes West, sam,e I00 feet, to
the south corner o£Block 23;
THENCE witl� the east, and northeast line o� said Bloc�C, North, and Northwest, some
1 l 00 feei, to i.ts intersection with the east right�o�'way oi Qalrnaont Laxie;
THEN'CE with said rigiit-of-way, Nortl� $ degrees West, some 215 %et, to the wesi
eorner of that certain txact of land described by deed recorded in Volurne 14772, Page
526, Dead Recards, Tarrant Counfiy, Texas;
Ordinanee nesignsting Tax Incremcni Reinvestmont Zone Number Eleven,
Ciiy of Fa�t Worth, TeXas
'I`HENCE with the south line of said tract, Sauth 73 degrees 30 �istrtes East, some 80
feet, anc� South 82 degrees East, some 110 �eet, and South � degre�s East, some 140 feet,
ta its intersection witkx the south line of Block l, Rivercl�ase Addition;
THENCE �with the soatheast line of said Slock, North 68 degrees East, some 690 feet,
and I�torth 32 degrees Ea.st, some 550 fee�, fo its intersec�tion with the south right-of-way
of Randol Mill Road;
THE�TCE with said right-of way, North 69 de�ees 30 minutes East, seme 570 feet, to
the northwest corner of Black 16;
THENC� with the southwest lina o� said Bl�ck, Southeast, sorzxe 2000 £eei, to its
intersecrion wi�th the north zigbt-of-way oi Cholla Drive;
THENCE with said rigl�t-of-way, Noxth 86 degrees Eas� some 2S0 feet, to the soutlaeast
oorner of Lat �5 9n Block 16;
T�NCE wifh an east, noxth, a�►d south line af said Block, Narth, W'est, and �ast, sozne
� 2400 feet, to the aoutheast corner oi Lot 30 in Black 16;
Thence wi.th the east line oi said Lot, North 3 degrees 30 minutes East, some 120 feet, to
its interseetian witla the south right-of way of Cholla Dzive;
Narth 84 degrees 30 minutes East, some 20 fee� to #he northwest cet-uer of Lot 29 in
BJ.ock 16;
Thence with the west line of said I,ot, South �" degcees West, som� 130 feet, to its
90LItI1W85C CDTI1CXa
TH�NCE with a south, wes�, north, west and south Une of said BlocZc, East, South, West,
South and East, same 320b feet, to its inxersection with the west ri,ght�o� �w�.y o�Hi�hh
Woods Trail;
THENCE with said right-of way, South, snrne 300 feet, to its intersectian vaitb. the west
right-o� way afBoca Rs.ton Boulevard;
THENCE yvith said right-of-way, VJest, some780 fee�, ta its intersection with the
southwest line of Block 29;
THENCE with said line, 8outheasterly, some 2300 feet, to the south corner ofihe right-
of-way of �iigh Woods Trail;
'i`HEI•TCL with the southeast line of said right-o%way, to and along southeast line of
Block 27, Northeas�erl�, some �440 feet, to its intersection vvith the west rig�t-of way of
TXCT Ele�tric Delivery Campany;
Ordinance Desfgnating Tex Inerement Reinvestment Zona Numba L'leven,
City of Port Worth, T�ces
'TH�NCE with said right-of-way, North, some 2380 feet, and North 4 degrees 34 min.utes
West, some I 19� feet, to its intersectiou with the south liue of Block 19,
THh�NCE with said line, So�th 87 degrees West, same 340 fe�t, �x�d South 70 degrees
West, some 290 feet, to its intersection vvith the east right of-way o� High �oods Trail;
'I'HEN'C� with sasd right-of-way, Nox�, crossing R�andai Mill Road, and to and along the
east rig�t-of way a� J.tiverbend Es#ates Drive, some 1Q60 %et, to its intersection with the
north right-of-way of TXU Eleciaic Delivery Company;
'�HENC�.wi.th said right�af-way, South 88 degrees Eas#, some 790 feet� anc� North 4
degrees 30 miwutes West, some S10 feet, ta fihe norrh line of sai.d Reedi.ng Survey;
THENCE with said line, East, some 205 fest, to its intersection with the east TXU
Electria Delivery Com.pany;
TH�N�CE wiih said right�of way, North 4 degrees 30 minutes �est, some 980 feet, to the
north bank of t�e West Fork ofthe Tri.nity River;
TI-I�NCE with s$.id north bank, L�asterly some 3100 feet, fo its in.tersection with tJie west
right-of-vvay of Interstate Highway Loop 820 East;
TI-IENGE with said right-of way, Sou#h, same 7000 feet, to iis intersection wi�fih the north
right of-way of Znterstate Highway 3�;
'I�NCE with said xi.ghY-of rovay, West, some 10,400 feet, to the Plae� of Beginning, and
containing some 1120 acres o£ lend, more or l�ss.
�eazing �ase and Distancas, per City of Fort Worth, Graphic Infonm�ation Systcm.
'S'his description prepared by Hans Kevin Hansen, Registered Professional Land Surveyor, Number 4786,
in 5eptember 2007.
"This document was prepared under 22 TAC § 6G3.21, does not rcflect the results of an on the ground
survey, anfl is not to be used to convey ar establish interests in reai progerty excepf t�iase tights or interests
implied or establishcd by the creadon or reconfiguration of the boundary o€the political subdivision for
whicb it was preparad.,,
Ordinancc Designating Ta�c Increment Reinvestment ZoneNumber Eleven,
City of Fod Worth, Texas
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EXHIBIT i°B"
FORT WORTH TIF DISTRICT # 13
PROJECT AND �`INANCING PLAN
Tax Incremen� Reinvestment Zone l��rnber Thirteen,
City af Fort Worth, 7Cegas
(Woodhaven TI�'}
Project Plau and Financi�g Plan
Prep�red for
The City of Fort Worth
May 20Q8
Tax rncrement Reinvestment Zone Number ThYrteen,
City oi Fort Worth, Tegas
(Woodhaven 7CYF}
Project Plan and F�nancing Plan
Tab�e of Contents
I. Tax Increment Financing Overview .............................................................................................3
II. The Project P1an ............................................................................................................................5
A. Description ofthe Zone .........................................................
i. Map oi Boundary .......................................................
ii. Legal Description .......................................................
iii. Map of Existing Uses ........................... ....................
iv. Map of Property Values .............................................
..........................................6
...................................... ...7
................................ . .........9
........................................15
........................................17
B. Proposed Changes to Current Ordinances and Codes ....................................................19
C. Estimated Non-project Costs ..........................................................................................19
D. Method of Relocating Displaced Persons .......................................................................19
III, The �'inancing Plan .....................................................................................................................20
A. F.conomicFeasibilityoftheZone ..................................................................................,2�
B. Proposed Projects and Itnprovements .............................................................................23
C. Revenue Projections .......................................................................................................24
IV. Summary af Project Costs and Financing .. ................................................................................26
V. Tables ......................................................................................
....................................28
2
I. '�AX INC�MENT FII�T.ANCING �V��VI��VV
I. TAX INC'��MEI�IT FINANC`IN� UVERVIEW
T� increment financing ("TIF"} is a tool Texas iocal governmez�ts use ta fulance public
im�rovements within a defined area. These improvements are intended to promote
dev�lopmeni or redevelopment in the defined area and surrounding areas. The primary
statute governing tax. increment financing is codified in Chapter 311 of the Texas Tax Code
(the "Tax Code"). Chapter 311 is often referred to as the Tax Increment Financing Act and
it allows municipalities to create "reinvestment zones" �vithin which various public
improvements can be undertaken.
A mtanicipality makes an area eligible for tax increment financing by designating a
reinvestment zone. Essentially, for the City to initiate tlae designatio�n of an area as a
reinvestment zone, the area must 1) substantially arrest ar impair the sound growth of the
municipality creating the zone, retard the provision of housing accommodations, or
constitizte an economic or social �iability and be a menace to the public health, safety,
morals, or welfare in its present condition; or 2) be predorninately open and, because of
obsotete platting, deterioratior� of stru.cture or s�te improvements, or oiher factors,
substantially impair or arrest the sound growtli of the municipality; or 3) be in a federally
assisted new community located in the municipality or adjacent to sueh property.
At the time an area is designated a reinvestment zone for t� increment fina�cing, the
e�isting total appraised value of real property in the zone is identified and designated as the
"base value," A11 taxing units that levy taxes in the zone during the life of the TIF will
continue to receive the ta�c reveuues derived from the "base ��alue."
As new development is added to the tax rolls within the TIF area, total assessed valuations
rise. This rise in new value is measured annua.ily and is called the "captured appraised
value". The taxes that are collected by the partieipating taxing jurisdictions on the
incremental increase between the original "base value" and the eurrent year's "captured
appraised value" is the "tax incrennent". Each taXing unit choosing to participate in the TIF
will agree to deposit a portion or aIl of the ta��es generated �irom the "tax increment" xnto a
TIF fi�d administered by a TIF Boaxd that is appointed by the local taxing units.
The TI�' Board uses the t� increment ta make public improvements in the area to atiraci
private development that would not otherwise occur or that may not occur until at a much
later date. Additionally, the TIF Board may e�ter into development agreements to
participate in new de�elopment or redevelopment.
The TIF District ends on the earlier of 1) the termination date contained ir� the ordinance
establishing the zone or 2) the clate on which all project cost have been paid in full. Any
revenues remaining in the TIF fund after tlie dissolution of the T� are returned pro rata to
each participating taxing unit.
:!
II. THE PPOJ.�CT �'LAN
II. TY�E PR�JECT PLAN
In 2005, the City of Fort Worth selected Gideon Toal to prepare a neighborhood
redevelopment plan to undergo a comprehensive study, analysis and action plan of the
Woodhaven area in east Fort Wort�i. Almost twenty years of escalating crime and stagnant
property values, along with increasing poverty levels were part of the impetus to initiate
policy, planning and redevelopments efforts for this area. In general, the `I� Plans
contemplate that prospective developers of properties within the TIF rnay func3 portions of
public it�rastructure associated with de�velopment opportunities by utilizing financial support
from the TIF Board through development agreements that provide for reimbutsement of
eligible expenses for these developments. It is also a.nticipated that the T�' Board may
undertake certain public improvement projects once sufficient taa� increment is avaalable in
an effort to further enhance the area, th�reby making it more attractive to new develapment
and redevelopment.
The Woodha.ven T'IF represents an importa.nt opportunity to support viable economic
redevelopment in east Fort Worth. Much of the area encompassed by the Tl� has been in a
general sta#e of economic decline with vezy little new private investment taking place in the
past twenty years. In order to support new and densex development in the future, sorne of
the basic infrast�ucture in the area must be upgradefl because muc� of the existing streets,
water, sewer, a,tid drainage systems were constructed several decades ago.
A. DESCRIPTYON OF THE PRQPOSED ZONE
The Woodhaven 'TIF is �ocated in east Fort Worth a�d encompasses approximately 1,100
acres of property that is bounded by Wi11ow Ridge Road on the westernmost boundary,
Interstate Highway 30 on the southernmost boundary, Interstate Highway Loop 820 on ihe
easternmost boundary, and z�oughiy follows tl2e Trinity River at its northernmost boundary.
This area includes intersections such as Woodhaven Blvd. and Boca Raton, and Bridge
Street and Boca Raton as they intersect Loop 820.
A map of the boundary and the legal description of the Woodhaven 'I'IF are contained on ihe
follawing pages as welt as maps of the current zoning and property values.
6
i. MAP OF THE BOUNDARY
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8
ii. LEGAL D�SCI2IF�IC�N C�F THE TIF
ii. LEGAL DESCRIP��ON OF T'HE Tl'�'
Political Subdivision Description of TIF 13 (Woodhaven)
A traot of land out of the, the W. J. Baker Survey, Abstract Number 101, the J. Brockman Survey,
Abstract Number 102, the N. Burton Survey, Abstract Number 244, the J. H. Connor Survey,
Abstract Number 285, the P. E. Coleman Survey, Abstract Number 3'72, the D. M. Helms Survey,
Abstract Number 812, E. Jones Surve�, Abstract Number 841, the H. P. Largent Survey, Abstraet
Number 960, the William Mann Survey, Abstract Number 995, the George Main Survey, Abstract
Numbex �097, the r. F. Reeding Survey, Abstract Number 1302, the W. R. Reeder Survey, Abstract
Number � 303, the R. Robinson Survey, Abstract Nurnber 1315, the W. W. Ray Survey, Abstract
Number 1353, the E. G. B. Williams Survey, Abstxact Number 1669, the VV. Trimble Survey,
Abstract Number 1521, and the R. Taylor Survey, Abstract Number 1561;
BEGINNING at the iniersection of the west line of said Jones Survey with the north right-of-way of
Tnterstate Highway 30;
THENCE with said west line, North, to and along the west line of said Brackman Survey, some
3430 feet, to the centerline of Old Randol Mill Road;
THENC� with said centczline, South 84 degrees 30 rninutes East, some 450 feet to its intersection
with. the west line of that certain tract of land deseribed by deed recorded in Volume 9236, Page 15'7,
Deed Records, Tarrant County, Texas;
THENCE with said line, North, some 260 feet to its northwest corner:
THENCE with the north line of said tract, South 86 degrees 30 miu�,utes East, some S60 feet, to the
southeast corner of tha.t certain tract of land described by deed recordad in Volume 12871, Page 510,
�eed Records, Tarrant County, Texas;
THENCE with the east line of said tract, North, some 410 feet, to the south banlc of the West Fork of
the Trinity River;
THENCE with said south bank, Northeasterly some 2280 feet, to the narthwest corner of that certain
tract of land described by deed recorded in Volume 8938, Page 466, Deed Records, Tarrant County,
Texas;
T�iENCE with the north line of said tract, North �2 degrees 30 zninutes East, some S60 feet, to the
west line of said Reeding Survey;
'I'HENCE with said line, South, some 200 feet to its intersection with the nort�westerly line of that
certain tract of laz�d, known as Tract 2L out of said Reeding Survey, described by deed recorded in
Volume 16775, Pa�e 133, Deed Records, Taxrant County, Texas;
THENCE with said line and the northeasterly Xine of said tract, Northeasterly, and Southeasterly,
some 740 feet, to the north corner of Lot 1B, Block 100, Riverbend Estates;
10
THENCE with the west and south lines of said Lot, some 470 feet, to said northeasterly line of said
Tract 2L;
THENCE wzth said line, Southeasterl�, some 940 feet, to the south right-of-way of Forest River
Drive;
TI�NCE with said right-o£ way, North 55 degrees 30 minutes East, some 610 feet, to its
intersection with the west line of Lot 5, Block 1, Riverchase Addition;
TI�NCE with said line, Southeasterly, some 490 feet, to the northwest comer of Block 25 of
Woodhaven Country Club Estates;
THENCE with the west line of said Block, Southerly, sozne 1280 feet, to the northwest corner o�Lot
lUR Woodhaven Golf Villas;
'I'HENCE r�vith the west line of said Woodhaven Golf Villas, Southerly and Easterly, some 300 feet,
to ihe west right-of-way of Putter Drive;
THENCE w�ith said right-of-wa�, Soutlz, some 40 feet, to the most east northeast corner of Lot Z S;
TF�NCE with the vvest line of said Woodhaven Golf Villas, Southerly and Easterly, some 590 feet,
to the southwestezly right-of-way of Putter Drive;
TI�NCE with said right-af-way, South 20 degrees East, some 10 feet, to the most north corner of
Lot 1N;
THENCE with the west, south and east lines of said Woodhaven Golf Villas, Southerly Easterlq and
Northerly, some 860 #'eet, to the south right-of-way of Oakmont Lane;
T'I-�NCE with said right-of-vc►a�, South 79 degrees East, some '70 feet, and South 88 deg�ees 30
minutes East, some 110 feet, to the most northwest corner of Block 20 of Woodhaven Country Club
Estates;
T�-IENCE with the r�vest line of said B�ock, Soutllerly, to and along the north, west and south lines of
Block 1, of Havenwood Golf Vi11as, and to and along the east line of said Block 20, some 2200 feet,
to the southwest right-of-way of Oakmont Lane;
THENCE with said right-of-wa�, South 30 degrees East, some 50 feet, and South 21 degr�es 30
minutes East, some 90 feet, and South 13 degrees East, some 30 feet, to the most northeast corner of
Block 9, Woodhaven Country Club Estates;
THENCE with the rnost north, west and north line o£ said Block, West, Southeriy, and West, sorna
2000 feet, to its intersection with a line 1.0 feet northeasterly of the southwesterly right-of-way of
Country Club Lane;
THENCE with said Iine, Northvvesterly, some 900 feet, to its intersection with the north line of Lot
39, Block 6, Woodhaven Country Club Estates;
11
THENCE to and along a north, a west, and a southwesterly line of said Block, West, South, and
Southeasterly, some 500 feet, ta its intersection with the southwesterly right-of-way of eountry Club
Lane;
THENCE with the southwesterly right-of-way of Country Club Lane, South 38 degrees East, some
140 feet, to the northeast corner of Lot 28, of said Block 6;
THENCE with the a north, most west and most south line of sa.id B1ock, West, Southerly, and East,
crossing Doral Drive, and to and along the sauth line of ��ock ?, crossing Counhy Club Lane, and to
and along the south and southeast line of Block 8, crossing Oakland Hills Drive, and to and along
the southeast and north line of Block 10, sorne 7400 feet, to its intersection �rith the northeast right-
of-way of Oakmont Lane;
THENCE with said right-of-way, North 15 degrees 30 minutes West, some 100 feet, to the southeast
corner of Block 22;
TI�NCE with the east, north, west line of said �lock, North, West, and South, some 5500 feet, to
its intersection with the north right•of-way o£ Oakn:iont Lane;
TIIENCE with said rigl�t-of way, North 15 degrees 30 rninutes West, some 100 feet, to the south
cozx�er of Block 23;
TI-�NCE with the east, and northeast line of said Block, North, and Northr�vest, some 1100 feet, to
its intersection with the east right-of-way of Oalanont Lane;
T'I�NCE with said right-of-way, North 8 degrees Wes� some 215 feet, to the west corner of that
certain txact of land described by deed recorded in Volurne 14772, page 526, Deed Records, Tarrant
Couz�fy, Texas;
THENCE with the south line of said tract, South 73 degrees 30 minutes East, sorne 80 feet, and
South 82 degrees East, sozne 110 feet, and South 1 degrees East, some 100 feet, to its intersection
with the south line of Block 1, Riverchase Addition;
TI�NCE with the southeast iine of said Block, North 68 degrees East, some 690 feet, anc� North 32
degrees East, some 550 feet, to its intersection with the south right-of-way of Randol Mill Road;
THENCE r�vith said right-of way, North 69 degrees 3� minutes Ea.st, sorne 574 feet, to the northwest
corner of Block 16;
T�-IENCE with the sout�.west line of said Block, Southeast, some 2000 feet, to its intersection with
the north right-of-way of Cholla Drive;
THENCE with said right-of-way, North 86 degrees East, some 250 feet, to the southeast oorner of
Lot 45 in B lock 16;
THENCE vvith an east, north, and south line of said Block, North, West, and East, some 2400 feet,
to the southeast corner of Lot 30 i� Block 16;
12
Thence with the east line of said Lot, North 3 degrees 30 minutes East, some 120 feet, to its
intersection with the south right-of-way of Cholla Brive;
North 84 degrees 30 minutes East, some 20 feet, to the northr�vest corner of Lot 29 in Block 16;
T�ence with the west 1'une of said Lot, South 2 degrees West, some 130 feet, to its sauthwest corner;
THENCE with a south, west, noxth, west and south line of said Block, East, South, West, Sauth and
East, some 3200 £aet, to its intersection with the west right-of-way of �-�igh Woods Trail;
'I'�ENCE with said right-of-r�vay, South, some 300 feet, ta its intersection w ith the west right-of-way
of Boca Raton Boulevard;
THENCE with said right-of way, West, sorne780 feet, to its int�xsection with the sout�west line of
Black 29;
THENCE r�vith said line, Southeasieriy, some 2300 feet, to the south coz�ner of the right-of way of
High Woods Tzait;
TI�NCE with the southeast line of said right-of-way, to and along sautheast line of Block 27,
Northeasterly, some 44Q feet, to its intersection with the vvest right-of-way of TXU Electric Delivery
Company;
THENCE with said right-of-way, North, some 2380 feet, and North 4 degrees 30 miz�utes West,
some 1190 feet, to its intersection with the south line of BIock 19;
THENCE with said line, South 87 degrees West, sonr�e 340 feet, and South 70 degrees West, some
290 feet, to its intersection w�th the east right-af-way of High Woods Trail;
THENCE with said right-of-way, North, crossing Randol Mill Road, and to and along the east right-
of-way of Riverbend Estates Driv�, some 1060 feet, to its intersection with the north right-o� way of
TXU Electric Delivery Company;
THENCE with said right-of-way, South 88 degrees East, some 790 feet, and North 4 degrees 30
minutes West, sorne S10 feet, to tbe north line of said Reeding Survey;
TI�NCE with said line, East, some 205 feet, to its intersection with the east TX�T Electric Delivery
Company;
THENCB with said right-of-way, North 4 degrees 30 minutes West, some 980 feet, to the north bank
of the West �ork of the Trinity River;
TI-�NCE with said north bank, Easterly some 3100 feet, to its intersection with the west right-of-
way of Interstate Highway Laop 820 East;
THENCE with said right-of-way, South, some '7000 feet, to its intersection with the north right-of-
way of Interstate Highway 30;
13
'Ti�NCE with said right-of-way, West, same 10,400 feet, to the Place of Beginning, and containing
some i 120 acres of land, more or less.
Bearing Base and Distances, per City of Fort Worth, Graphic Information 5ystem.
'This description prepared by Hans Kevin �Tausen, Registered Professional Land Surveyor, Number 4786, in September
2007.
"T'his document was prepared under 22 TAC § 663.21, does not re#]ect the results of an on the ground survey, and is not
to be use@ to canvey or establish interests in real property except those rights or interests implied oz established by the
c�reation or reconfigaration af the boundary of the political subdivision for which it was prepared"
14
YYY. N�AP OF EXI�'�"I.l�aTG LTSES
15
iii. MAP OF EXISTING USES
The following depicts a map of the TIF boundary by current general uses.
The following categories are particularly significant in tezms of implementing specific public
infiastructure unprovements in strategic areas:
Improved & Unimproved Commercial
Improved & Unimproved Residential
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17
iv. MAP UF PROPERTY VALUES
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18
B. PROPOSED CHAN�ES TO CTJR�ENT ORDi�ANCES AND CODES
There are currently no proposed changes to zoning ordinances, building codes, nor any other
municipal ordinances relating to the T'IF that �vould affect tlae anticipated implementation of
the Plans b� the Board.
C. ESTI�VIA'�'Eb NON-PROJECT CUSTS
Non-project costs are not expected to be incurred within the TIF'.
D. METH4D O�' RELUCATING DISPLACED PERSUNS
No persan shall be displaced as a resul�C of implementing the Plans.
19
III. T�IE FINAN��T� PLAN
m
III. THE FINANCING PL,A,N
A. ECONOMIC FEASIBILITY OF THE ZONE
i. Increased Tax Base
The follo�ving economic impact analysis is based on anticipated development plans �c�vithin
the proposed TIF district and the opportunities that exist to capture ta�c increment due to a
significant number of low appraised values in the area.
The success of any TIF Zone is predicated on the increase in valne of the appraised real
property so that ta�c increment may be captured. This tax increment can �hen be used to
make infrastructure iznprovements in an effort to attract new growth and in this particular
case, promoie redeve�opment opportunities. 'With that in mind, initiating this T1F Zane in
2007 is important since private investment activity �s ctu•rently e�vident in the area.
Specifically, some modest commercial development and some additional available parcels
that front interstate Highway 30 and �nterstate Highway Loop 820 can serve as catalysts that
both in�t�ate the redevelopment of the area and help ensure the success of the TJF Zone in the
early years. Add.itionally, the former Oak Hollow and Villa del Rio apartments that were
recentl� pwrchased by the City of Fort �orth are prime areas within the heart of the
neighborhood that have #he opportunity to be redeveloped into more attractive pro�erties
witb. the assistance of this TIF through streetscape enhancements and other pertnissible
assistance.
With the designation of the TIE, it is anticipated that the area within and surrounding the TIF
will experience certain increases in value as the project improvements are completed.
Potential development is expected to include commercial, retail, restaurants, entertainment,
and residential uses. These new deveiopments should have a substantial impact on the
overall increase in t�able real property within the Zone than typically found in other parts
of Fort Worth, because of the extent of blighted properties and depressed existing values in
the area. With regard to the revenue projections that have been developed for this plan, a
two percent annual growth rate has been utilized, which is canservative and suggests an even
greater opportunity for the success of the 'I'IF Zone.
It is estimated that the area i:.n the Zone vvill experience development during the 20-yeax
period in which the TTF Zane is in place with the patential for TIF increment to generate
approximately $17 million if al1 taxing entities choose to participate by designating 80% -
lOQ% of their ta�c increment. (1he College District has a 50% maximum partici�ation
policy.} Although prohibited from participating in the TIF, it is anticipated that the Fort
Worth Independent School District could receive almost $20 million in tax revenue over the
20-year period.
21
ii. Increased Retail and Commercial Business
Based on current land uses and potential investment, the TIF will develop with
approximately 140 acres of the developable area becaming new or redevelopeci retail and
commercial business.
iii. Employment f3pportunities
rn additian to the jobs created during construction of the project improvements, it is expected
that the future deve�opment of the Zone resulting from the priva�e project improvements will
generate a wide varieiy of additionai employment opportunities.
22
B. PRO�OSED PROJECTS AND IMPROVEME�t'TS
Redevelopment within the Woodhaven TIF will consist of a conn�bination of public
improvements and private investment projects over time. These improvemenis will provide
a"�oundation for de�velopment" to encourage and aupport the long-term public needs of the
neighborhood a�d to secure mixed-�tse economic growth opportunities in the Vt7oodhavea
area.
i. Initial Improvements
The initial improvements contemplated in the Woodhaven TIF include public infrastructure
(e.g. water, sewer, drainage, roads, sidevc�alks, etc) associated with mixed-use development.
In addition, demolition, environmental remediation, and al1 expenses allowable under the
Tax Increment Fivancing Act are contemplated as needed %r areas within the TIF Zone.
The improvements undertaken by the TIF will include, but not be limited to the projects
listed below:
• Corridor Ymprovements — Street, trafiic, utiliiy, drainage and other public infrastructu.re
projeets within the TIF boundaries.
Public Infrastructure such as water, sewer, dxainage, roads, sidewalks, etc. and
demolition costs associated with the follo�c�ving potential projects:
o Renovation of two old strip centers along Woodhaven and Boca Raton
o New construction at site of former apartments along Boca Raton and
Oakland Hi11s
Gateway Enhaneements - Street, traffic, utility, dxainage and other public infrashvcture
projects at the gateways of the 'TIF' along Woodhaven Blvd., Randol Mill Road, Boca
Raton and Bridge Street.
� Administrative Expenses
ii. Future Improvements
There are no futiue prajects contemplated during the term of the 'I�. However, the Gzty
Council reserves the �ight to consider amendments to the project plan if subsequent projects
are identified by the TIF Board as appropriate and elzgzble for tax increment funding.
23
C. 'rA7� YNCRENiENT REVENUE PROJECTIONS
i. Bonded 7ndebtedness
No bonded indebtedness is expected ta be incurred with respect to any of the project
improvements.
i�. Projection of Revenues
This section outlines the estimated Zone tax increment. The Zone tax increment will dapend
on many factors, ir�cluding (a) the base value of real property in the Zone subject to pro�erty
tax; (b} captured appraised value; (c) annual growth of the Zone's taxable real property
(which iargely depends on private growth within the Zone); (d) participation by tax units; (e)
t� rates; (� collection rates; and (g) the term of the Zone. Eaeh of thesa factors is discussed
in turrt.
(a) Taxable Appraised Value �or 2007 (the Base Value). Table 1 sets forth the
iotal taxable appraised value of properiy in the Zone (esti�mated to be $192 mzXlion), which is
anticipated to be the Zone's base value.
(b) Captured Appraised Value. Table 1 sets forth the estimated total appraised
vatue of property in the Zone over the life of the TIF (estimated to be appraximately $281
million in year 2027).
(c) Exnected Annual Grovvth of the zone's Ta�table Rea1 Pro�erty. The estimated
captu.red appraised value (thus reflecting estimated growth of real property ta�cable values) of
the Zone for each year of its existence and the estimated tax incrernent to be generated
annually zn total and from each taxing entity is outiined on Table 1.
(d) Partxcipation bv Tax Units. Although each taxing entity has not agreed to a
specific level of participation, the financial projectioz�,s set forth in the Flans anticipates that
the City of Fort Worth and Tarrant Regional Water Uzstrict will participate by contributing
one hundred percent (100%) of their tax increment with respect to the Zone, and anticipates
Tarrant County, and Tarrant County �Iospital District contributing at eighty percent (80%),
and Tarrant County College contributing fifty �ercent (50%) of their ta�c increment with
respect to the Zone.
(e) Proiected Ta.� Rates. Property tax rates are assumed to remain constant.
(� Projected Collection Rates. The Plans assumes a one hundred percent (100%)
collection rate by all entities at their respective level of participation.
24
(g) Term of the Zone. The term of the Zone will be 2 i years, expiring on
December 31, 2028, be� nning with that Zone tax increment generated by the 2008 t�
appraisal and ending with that Zone tax increment generated by the 2027 tax appraisal.
iii. Estimated Payment of Project Costs
Based on the assurnptioz�s and estimates set forth in the informaiion above, it is expected that
the Zone ta� i.nerement will be suf�"icient to pay in fult a11 project eosts {including interest}.
25
IV. SUMMA��R.Y 4F PRUJECT COSTS
AND FINANCING
�
IV. SUMMARY QF PROJEC�' COSTS AND FINANCING
A. ,Anticipated 1'IF Projects
• Corridor Improvements $ 6,Q00,000
• Public Infrastructure/demo�iiion associated with
o Renovation of strip centers along Woodhaven and Boca Raton $ 2,000,000
o Ne� construction at site of former apartments along Boca
Raton and Oakland Hi11s $ 3,000,000
* Ga.teway Enhancements $ 2,OOd,000
• Adminis�rative Expenses $ 500,000
TOTAL PROJECT COSTS $13,50{1,40U
B. Anticipated 'TIF Revenues
• City of Fort Worth
� Tarrant County
• Tarrant County Haspital District
n Tarrant County College District
• Tarrant Regional Water District
TUTAL �'VENUE
$ 11,180,307
$ 2,787,885
$ 2,410,207
$ 911,293
$�261,528
$17,SS1,220
'� Project costs assume interest associated with reimbursement �or public improvements.
27
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TARRANT COUNTY RESOLUTION QF PARTICIPATION
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RESOLUTION
PARTICIPATION OF TAT2RANT COUNTY HOSPITAL DISTRICT
IN CITY OF FORT WORTH TAX INCREMENT FINANCING
REINVESTMENT ZONE #13 -WOODHAVEN TIF
WHEREAS, the general laws of the State of Texas authorize governmental taxing entities to
join other taxing jurisdictions in the establishment and funding of a reinvestment zone under the Tax
Increment Financing Act, Chapter 311 of the Texas Tax Code (the "Act"), to provide incentive for
the development and redevelopment of properties that might not be undez-talcen without such
incentive; and
WHEREAS, the Fort Worth City Council approved Ordinance No. 17889-11-2007, dated
November 27, 2007, establishing Tax Increment Financing Reinvestment Zone Number Thirteen of
Fort Worth, Texas, in accordance with the Tax Increment Financing Act, to promote redevelopment
of property in the Zone and the construction of new commercial and retail development by providing
for infrastructure improvements through the use of tax increment iinancing; and
WHEREAS, the Fort Worth City Council provided all applicable notices to the Tarrant
County Commissioners Court and the Tarrant County Hospital District as to the City Council's
establishment of the tax increment reinvestment zone and, through its appointed representatives
made a presentation to the Tarrant County Commissioners Court regarding the reinvestment zone;
and
WHEREAS, the City of Fort Worth City Council has adopted a Project Plan and Financing
Plan for the Zone which was approved and submitted by the Reinvestment Zone Board of Directors
on May 29, 2008; and
WHEREAS, the Tarrant County Commissioners Court recognizes that the pai-ticipation of
the Tarrant County Hospital District in the funding of the tax increment reinvestment zone will have
the desired effect of developing the area to the benefit of all taxing units which levy taxes in the
proposed reinvestment zone; and
WHEREAS, in accordance with Section 311.013(f-1) of the Texas Tax Code, the Tarrant
County Commissioners Court may act on and enter into Tax Increment Financing pai�ticipation
agreements on behalf of those taxing entities for which it levies taxes, including the Tarrant County
Hospital District.
NOW, THEREFORE, BE IT RESOLVED:
That the Tarrant County Commissioners Court hereby approves Tarrant County Hospital
District participation in the Fort Worth Tax Increment Financing Reinvestment Zone #13 and the
payment into the tax increment fund of Eighty percent (80%) of the Hospital Districts collected
incremental tax revenue (as set forth in the Agreement) produced by applying the Hospital District's
tax rate to the incremental increase in the value of property located in the reinvestment zone,
beginning with Tax Year 2012 through December 31, 2028, or until Two Million Four Hundred Ten
Thousand Two Hundred and Seven Dollars ($2,410,207) in cumulative Hospital District increment
deposits have be made, or until all project costs have been paid, whichever occurs first, in
accordance with the terms of the attached Agreement; that the Agreement be and is hereby approved;
that the Commissioners Court hereby agrees to enter into the Agreement on behalf of the Hospital
District; and the County Judge of Tarrant County or his designee be and is hereby authorized and
directed to execute said Agreement on behalf of the Hospital District substantially in the form
attached hereto and carry out the terms thereof at the appropriate time(s).
PASSED AND APPROVED, IN OPEN COURT, this l lth day of December 2012.
COURT ORDER NO.
�
B. Glen Whitley, County Ju e
9
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Roy C. B oolcs A� yd H: N
Commissioner, Precinct 1
�
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Gary Ficices
Commissioner, Precinct 3
Commissioner, Precinct 2
.D. John on
Commissioner, Precinct 4
ATTEST:
I
County Clerlc
Asst. Di��iIct Attorney
M&C Review
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Page 1 of 2
Official site of t1�ie City oP 1"ort Waitl7, l�exas
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COUNCIL ACTION: Approved As Amended on 11/27/2007 - Ordinance No. # 17889-11-2007
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DATE: 11/27/2007 REFERENCE G-15982
NO..
CODE: G TYPE: NON-
CONSENT
LOG NAME:
PUBLIC
HEARING:
17WOODHAVENTIF
YES
SUBJECT: Conduct Public Hearing and Adopt Ordinance Designating Tax Increment Reinvestment
Zone Number 13, City of Fort Worth, Texas (Woodhaven TIF)
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RECOMMENDATION:
It is recommended that the City Council:
1. Hold a public hearing concerning the designation of Tax Increment Reinvestment Zone Number
13, City of Fort Worth, Texas for tax increment financing purposes; and
2. Adopt the attached ordinance which designates Tax Increment Reinvestment Zone Number 13,
City of Fort Worth, Texas pursuant to Tax Increment Financing Act, Texas Tax Code, Chapter 311
and contains specific findings of fact in support thereof.
DISCUSSION:
The proposed Tax Increment Reinvestment Zone Number 13, City of Fort Worth, Texas being
referred to as the Woodhaven TIF (the TIF), is located on approximately 1100 acres of land in east
Fort Worth. The property is bounded by Interstate Highway Loop 820 on the east, and Interstate
Highway 30 on the southernmost boundary. The exact boundaries of the property are described in
Exhibit A of the attached ordinance. The TIF will expire on December 31, 2028, or the earlier date as
of which all project costs have been paid.
This TIF is intended to help fund public infrastructure improvements (e.g. water, sewer, drainage,
roads, sidewalks, etc) associated with new development and redevelopment projects. In addition,
demolition, environmental remediation and all expenses allowable under the Tax Increment Financing
Act are contemplated as needed for areas within the TIF Zone identified as ripe for new or
redevelopment. The ordinance provides that the City will contribute 100 percent of its tax increment to
the TIF each year during the term of the TIF.
This public hearing is required by the Act. Notice of this hearing was: (1) delivered to the governing
body of each taxing unit that levies real property taxes on property located within the proposed TIF
and; (2) published in a newspaper of general circulation at least seven days prior to this meeting.
The proposed area meets the criteria for designation as a reinvestment zone pursuant to the Act
http://apps.cfwnet.org/council�acicet/mc review.asp?ID=8804&councildate=ll/27/2007 7/2/2013
M&C Review
because, ?s more specifically set forth in the findings of fact in the attached ordinance, the area is
underclevel¢�ped, blighted and largely unproductive due to the deteriorated site and other
improvements and contains unsanitary and unsafe conditions, all of which prevent development from
occurring in the area solely through private investment in the reasonably foreseeable future, thereby
substantially impairing and arresting the sound growth of the City.
This property is located in COUNCIL DISTRICT 4
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that this action wili have no material effect on City funds.
TO Fund/Account/Centers
Submitted for City Manager's Office b�
Originating Department Head:
Additional Information Contact:
ATTACHMENTS
Woodhaven TIF Ordinance.dac
Woodhaven.pdf
FROM Fund/Account/Centers
Dale Fisseler (6140)
Tom Higgins (6192)
Ossana Hermosillo (8618)
Ardina Washington (8003)
Page 2 of 2
http://apps.cfwnet.org/council�acicet/mc review.asp?ID=8804&councildate=ll/27/2007 7/2/2013