HomeMy WebLinkAboutContract 44608�l"�' S�CR�TI� �lLr �'1���
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AGREEMENT TO PARTICIPATE IN
TAX INCREMENT REINVESTMENT ZONE NUMBER TWELVE,
CITY OF FORT WORTH, TEXAS
(EAST BERRY RENAISSANCE TI�
This AGREEMENT TO PARTiCIPATE IN TAX INC�2EMENT
REINVESTMENT ZONE NUMBER TWELVE, CITY 4F FORT WORTH,
TEXAS ("Agreement") is entered into by and between the CITY OF FORT WORTH,
TEXAS (the "City") and TARRANT COUNTY HOSPY'TAL DISTRICT {the
"I3ospital District").
The City and the Hospital District hereby agree that the following state�nents are
true and correct and constitute the basis upon which the City and the Hospital District
have entered into this Agreement:
A. On July 18, 2006, the City Council of the City ("City Council") adopted
City Qrdipance No. 17061-07-2006 designating certain real property located in the
southeastern portion of the City in the vicinity of the East Berry and Riverside Drive
intersection as Tax Increment Reinvestment Zone Number Twelve, City of Fort Worth,
Texas, (the "TIF District"). The TIF District �s inforrnally known as the "East Berry
Renaissance TIF". Ordinance No. 17061-07-2406 is hereby incorporated by reference for
all purposes and is attached hereto as Exhibit "A".
B. Designation of the TIF District will cause development of property in and
around the TIF District to occur that would not occur otherwise in the foreseeable future.
As a result of designation of the TIF District, it is intended that public infrastructure for
East Berty and for private development proje�ts will be funded. It is anticipated that
other complementary development in the TIF District will follow. This overall
development will result in increased tax revenues and other public benefits for both the
City and the Hospital District.
C. Pursuant to Section 311.013{fl of the Texas Tax Code, the Hospital
District is not required to p�y aziy tax increment into the tax increment fund of the TI�
District unless it enters iz�to an agreement to do so with the City. The Hospital District
wishes to enter into such an agreement with the City.
NOW, THEREFQRE, for and in cansideration of the conditions set forth herezn,
the sufficiency of which is hereby acluiowledged, the City and the Hospital District da
hereby contract, covenant and agree as follows:
1. INCORPORATION OF RECITALS.
The parties hereby agree that the recitals set forth above are true and correct and
form the basis u�on which they have entered into this A���_ _
���&���,�-, ���C�nG�f��
Tarrent County Hospital District Participation Agreement �e�T� s�C�����
re: Berry Street TIF �` ���� �•�
Page 1 r �� C E I V�[� .I! 1l_ �° �. Z��•
2. DEFINITIONS.
In addition to any terms defined in the body of this Agreement, the following
terms shatl have fihe definitions ascribed to them as follows:
Act means the Tax Increment Financing Act, as amended and as coclified as
Chapter 31 l of the Texas Tax Cade.
Captured Anpraised Value in a gi�ven yeax means the total appraised value o�all
real property taxable by the Hospital District az�.d located in the TIF District for that year
less the Talc Increment Base.
Proiect Plan means the project plan for the development and/or redevelopment af
the TIF District, as adopt�d by the TIF Board and approved by the City Council of the
City, attached hereto as Eghibit �°B".
TIF Board means the goveming board of directors of the TIF District appointed
in accordance with Sectioz� 311.009 of the Act and Sectian 3 of City Ordinance No.
1'7061-0'7-2006. The Hospital Disbrict shall appoint and maintain at least one (1) member
on the TTF Board, and may appoint non-voting ex-officio members or staff inembers who
shall also be notified of all TIF Board meetings and actions.
TIF Distriet means the certain real properties and boundaries as described in City
�rdinance No. 17061-07-200b, attached hereto as Ezhzbit "A".
Tax Increment in a given year means the amount of property taxes levied and
collected by the Hospital Distriet %r that year on the Captured Appraised Value of real
property ta�cable by the Hospital District and located in the TIF District.
Tag Increment Base means the total appraised ��alue as af January 1, 2�06 of al]
real property ta�cable by the Hospital District and located in the TIF Distriet.
Tax Increment Fund means that fund created by the Ciiy pursuant to Section
311.014 of the Act and Section 6 of City Ordinance No. 17061-07-2006, whieh will be
maintained by the City, into which all revenues of the TIF District will be deposited,
including (i.} deposits of T� Tncrement by the City and by other ta�cing wuts with
jurisdiction over real property in the TIF District, including the Hospital District, and {ii.)
ali acerued interest earned on the cash balance of the �'und.
TIx' Oxdinance means City Ordinance No. 17061-07-244b, attached hereto as
E�b�ibit "A".
Tazrant County Hospital District Participallon Agreement
re; Berry Strezt TIF
Page 2
3. DEPOSIT OF TAX INCREMENT.
Pursuant to a Resolurion duly adopted by the governing body of Tamant County
on behalf of the Hospital District, which Resolution is attached hereto as Exhibit "C"
and is hereby rnade a paxt of tlzis Agreement for all purposes, and specifically subject to
Section 4 of this Agree�ment, the Hospital District hereby agrees to deposit each year
during the remaining term of the TIF District, beginning with the 20I2 tax year, eighty
percent (80%) of the Hospital District's Tax Increment into the Tax Increment Fund up to
a maxxmum cumulative contribution of Four Million Four Hundred Seventy-Two
Thousand, Five Hundred a.nd Ninety bollars ($4,472,590) (the "MaYcimum Hospital
District Contribution"}. Such deposits shall be made in accordaz�ce with Hospital
District's and the City's standard administrative procedures relative to all ta�c iz�crement
reinvestrnent zones administered by the City, but only following receipt of a bill from the
City that outlines the City's calculatian of the amount of the deposit that is required for
that year.
4. LIlVi�TATIONS ON TAX INCl2EMENT DEPOSITS AND USE OF FUNDS,
This Agreernent is based on the following condzt�ons, and the City agrees and
acknowledges the Hospital District's right to enforce the condit�ons contained herein b�
injunction or any other Iawful means in the e��ent one or more of such conditions are not
satisfied.
4.1. Amendmenf to TIF Ordinance.
The TIF Urdinance designates the boundaries, the eligible real properties
for the calculation of Tax Increment for the TIF District and the specific
participation 1eve1 for the City. All amendments to the TIF Qrdinance sha11 be
approved by the TI� Board prior to approval by the City Council. if the City
Council approves an arnendment to the TIF Ordinance different from the
amendment approved by the TIF Board, the Hospital District shall suspend
payment into the TIF Fund as described in Section 3 until ihe amendment is
approved by the governing body af Tarrant County.
4.2. Certain TIF District Proieet Costs Egcluded.
The Tax Tncrement deposited into the Tax Increment Fund by the Hospital
District shall be used to pay a pro rafia portion of a maximum of $20,I00,000 in
2006 net present value project costs for infrastructure improvernents or other
pubtic improvements as set forth and identified in the Project Plan attached hereto
as E�chibit "B" (tlie "Maximum Project Casts"). A11 TIF Fund allocations,
including but not limited to any management and adtninistrative cost, must be
approved by the TIF Board in accordance with the Project Plan, Tf the Project
Plan is amended, the Hos�ital District sha11 suspend payment into the TIF Fund as
descxibed in Section 3 until the amendment is approved by the govexning body of
Tarrant County as an amendinent to this Agreernent.
Tarrant County Hospitol District Participation Agreement
re: Berry Strcet T1F
Page 3
4.3. TIF District Ex ansion.
As defined, the TI�' District shall include real properties located vctithin the
boundaries as described in the TIF Ordinance. If the TIF District is expanded, t1�e
Hospital District is not required to deposit into the Tax Increment Fund any Ta�t
Increment generated from properties in the expanded area unless participation in
the expanded boundary area is approved by tha governing body of Tarrant
County as an amendment to this Agreement. Additionally, the Taz� Increment
deposited into the Tax Increment Fund by the Hospital District may not be used
for any permissible project costs in any portion of the exp�nded area of the TIF
District unless approved by the governing body of Tarrant Caunty as an
amendment to this Agreement.
5. TERM.
This Agreernent shall ta.ke effect on the date as of which both parties have
executed it and shall expire upon expiration or termination of the TIF District, which
currently is the earlier of (i) December 31, 2027 or an earlier termination date designated
by ordinance subsequently adopted by the City Council of the City, or (ii) the date an
which all project costs of the TIF District, including, but not lunited to, tax incrernent
bonds and interest on those bonds, have been paid or otherwise satisfied in full, or (iii)
the date on which the Ma�mum Hospital District Contribudon is reached, or (iv) the date
on which the Hospitai District's pro-rata portian of the Maximum Project Costs,
including, but not limited to, tax increment bonds and interest on tliose bonds, have been
paid or otheru�ise satisfieti in fulI.
6. TIF FUND ACCOUNTING.
No later than July 1 of each year following execution of this Agreement, the City shall
pro�zde the Hospital Distriet with an annual accounting of the funds deposited to and
disbursed from the Tax Increment Fund, including accrued interest. After all project
costs of the TIF Distriot have been paid or at the time of the expiration of this Agreement,
any funds remaining in the Tax Increment Fund following the final annual accc�unting by
the City shall be paid to those taJcing units participating in the TI� District in proportion
to each taating unit's share of the total amount of Ta�c increment deposited into the Tax
Inczement Fund.
7. RESPONSIBLLITY FOR ACTS.
The City and the Hos�ztal District shalt each be responsible for the sale negligent
acts of their officers, agents, emplayees or separate contractors. In the event of joint and
concurrent negligence of both the City and the Hospital Disfirict, responsibility, if any,
shall be apportionad comparatively with the laws of the State of Texas, with the
understanding that neither party waives any governrnental powers ar irnmunities or any
other defenses availab2e to e�ch imdividually.
Tarrent County Hospital District Participation Agreement
re: Berry Street TlF
Page 4
8. NOTICES.
All written notices called for or required by this Agreement shall be addressed to the
following, or sucl� other party or address as eitheir party may subsequently designate in
writing, by certified mail, postage prepaid, or by hand delivery;
City:
City of Fort Worth
Arin: City Manager
1000 Throclanorton
Fort Worth, TX 761 Q2
Tarranfi County:
Tarrant County
Attn: County Administrator
100 E. Weatherford, Suite 404
Fort Worth, TX 76021
Tarrant County Iiospital District:
JPS Healtb� Network
Attn; President/C�O
1500 S. Main Street
Fort Wort�, TX 76104
iVl#it GOjJIt'S tU:
the City Attorney and
Housing and Econ�omic Development
Director at the same address
9. NO WA.�VER.
The failure of either party to insist upon the performance of any #erm or provision
of this Agreement or to exercise any right granted hereunder shall not constitute a waiver
of that party's right to insist upon appropriate perforrnanoe or t4 assert any such right on
any future occasion.
10. VENUE AND JURISDICTION.
If any action, whether reat or asserted, at law or in equity, arises on the basis vf
any provision of this Agreement, venue for such action shall lie in state courts located in
Tarrant County, Texas or the UAited States District Court for the Northern District of
Texas — Fort Worth Dxvision. This Agree�nent shall be construed in accordance with the
laws of the State of Texas,
11. NO THIRD PARTY RIGHTS.
The provisions and conditions of this Agreement are solely for t11e benefit of tlae City and
the Hospital Dist�rict and are not intended to create any rights, cantractual or otherwise, to
any other person or entity.
Tarrant Cou�ty Hospitsl District Participation Agree�nent
re:Iierry Street TIF
Page 5
12. FQRC'E MAJEURE.
The parties shall exercise every reasonable effort to meet their respecfiive
obligations as set forth in this Agreement, but shall not be held liable for any delay in or
o�nission of performance due to force majeure or other causes beyond their reasonable
control, including, but not limited to, compliance with any government law, ordinance ox
regulation, acts of God, acts of omission, fires, strikes, lockouts, national disasters, wars,
riots, material or labor restriction�s, transportation problems and/or any other cause
beyond the reasonable control of either party.
13. �NTERPRETATION.
In the event of any dispute over the meaning or application o� any provision oi
t�is Agreement, this Agreement s�all be interpreted fairly and reasonably, and neither
more strongly for or against any party, regardtess of the actual drafter of this Agreement.
14. CAPTI4NS.
Captions and headings used in this Agreement are for referenee purpases only and
shall not be deemed a part of this Agreement.
15. ENTIRETY UF AGItEEMENT.
This Agreement, including 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 orai or written agreement is herel�y declared nu11 and void to the extezit
in eonfliet with any provision of this Agreemer�t. Notwithstanding anything to the
contrary herein, this Agree�ment shall not be amended un�ess executed in writing by both
parties and approved by the City Council of the City in an open meeting held in
accordance witii Chapter 551 of the Texas Goveriunent Code.
16. APPY20VAL AND EXECUTION.
Tn aceordance with Section 311.013(f-1) of tbe Texas Tax Code, the Taman#
County Cornmissioners Court may act dn and enter into this Agreement on behalf of the
Hospital District.
17. COUNTERPARTS.
This Ageemezit may be executed in rnultiple counterpa.rts, each of whieh shall be
considered an original, but all of which shall constitute one instrument.
Tarrant County Hospitat Distriet Participation Agreement
re: Berry Street TIF
Page 6
EXE�UTED as of the later date below:
CITY OF FORT WORTH, TEXAS: TARRANT COUNTY
on behalf of the
TARRANT COUNTY HOSPIT.A�.
DISTRICT:
By: gy;
�fifi�s��s-� ��J �5�a�'a B. Glen Whitley
Assistant Ci#y Manager �ounty Judge
Date: � �� �
ATTEST:
:
APPROVED AS TO FORM
:
Date:�
Disrrict Attorney
M&C: - I'S� �-I( $ lt� (Q COURT ORDER N�: %%�/�
'` By law, the District Attorney's D�ce may only advise or approve contracts or lega! documents on behalf of its
clients, !t may not advise or approve a contract or le,ga! document on behalf of other parlies. Our view oJthis
document was conducted solely from the legal perspective of our client, Our approval oflhis doc7iment was offered
solely for �he 6enefit af our client. Other parh'es should not rely on this approval and slrould seelr review and approval
by their own respective attorqey (s).
Tarrant County Hospital District Perticipation Agreement
re: Berry 5treet T1F
Page 7
OFFICIAB. IBEC�itD
CITY SECitETAf�I�
FT. �110RT9�, �')(
���`I' aAs,
TXF ORDIlYANCE
O�tA�ANCE 1V'O. 17t�,���Q¢ ,
AS�T O�i,l3YNANC,� D�iGhTATI�i� A CERT,AIAT Ci�NTXGrJQ�TS
�AG�iAF�YG ,�REA YN T� C;'�C'I'Y OF FA�t.T WO�t� AS "xAX
�TC�.N�EI�` ��'I`11!1�1+��' ZON� N�JMBFdt '�"41��'i�E,
C�T'SE' OF F��i.'� WO�t'I`H, x�"; CREA�'II�iG A BQ,A�1 UY+`
D�EC'�'ORB �O� T� ZQNE; PitOi�'lUII�1C THE ��S'.G"�'IVB
ANA �'B`�AT�UN �A'� Ie'E7H. 'I'$E ZU1V�; �STABLTSi�1G
t�. �A� I�1TC�i,1:.�V{��'�' �OND �'O�. � 7U�IE; A1VD
CUN'TA�t�TG 4T'i�ER�A'�"I'ERS itELA`�'�U THE ZANE.
'4 i;' s, tlze City Council ilesires to promo�e t�.e d�e�opm�efat of lend in that
ce�tain aorat�i�ous geugrapbic area in the Ci�y which is more s�ea6cslly dcsczabetl in
E���..tt t� Of f�l1S OPf�i118I1CC �L�'tC ��Z�i411C��) tlu�ough d�.e creatavn of a ne�v t��nvestrnent
�one as aulitar�zed iay and in �.ccordance with the 'Tax �nczement Finencirx� Act, c.odi�fied
et Cha}�ter 311 o�'th�e Texas Ta�c CodG (tl�e �'�ode'�; and
WHT�REAS, ots. ar about May 12� 2006 t}�e Ciiq pmrrided wri#e� �:ot�r� io the
�overnin,g body of e.�c� #axing wut t�aat lcvies �al propexty t�e� i� the pro�osed Zcyne af
{'i} th� G'�ty's inte�at tn �stab�ish d'ie Zone; (ii) � deseriptioa af #ie bou�a�iatzes of the Zone;
(ii�� thc �ty's taztative pl�ns �ox d�apme�t af t1�e Zone; and (iv) an es�imaie of the
gea�eral. impact of thc Zone o� pr�perty valur.s and tex revenuts; e�ci
��&A.S, in acoordance vviih thc requirement imposed b�+ Section 312.003(e}
of the Code, ii�e+ City prot►idc�d suC#� written notice more t�ari: sixty (6D} d�ys prior to the
d�.te of t�e public he&ring couducied pt�'sua�t to SE�ti.on 3i I.OU3�c) afthe Cod�; enrl
'Q�'�i�R�A�, ti� Ci#p hss prcp�rcd preli�rn3z�arY �+csjec� and iu�ancing pJ�ng for
��sro�d Zone �nri prorvfded a copy of those plens to t�e gavenni.ng bu�y of ewc�
ta�o�g uait tl��# levies t�cas on m�al p�peri�► 3n tb.e �one, as nquiz•ed. by Sectzon
� 1 I.Op3{b} ogthe �ode (th� "Preliminar� Plans'�; s�d
Pega 1
Ordiaaaeo lkdgnndng't'ax xncm.ment Reinve�E?.otto Nwnbox'i"�erelve.
dty of Fort Worth, 'l�tae
w�A.s, iu �ccaraaz�ce vuixh seetion 3Xl.ao3(� of the coda, on rtine �s,
200& ii�e City made a. si�le %zmai pres�ntation w th� gov�.iag body a� cach cAunty
and schoo� c�.atrict t�.t l�vios rea] propezty ta�s it� the proposc;d Zone� as a�eed to i�n
w�ti�g by the Fo�tt'�'oz�th Tndepe�dent School T�iseciai, wh€ch pr�s�ntacioz�, amrnng othe�r
�, inclu�ied (i) a desc��ption of thc p�posed botwda�ries a� � Zone; {ii} �e City's
teut�tiva plans %x de�velopzn.cn�t of thc iouc; a�nd (iii) an a�timate o�the ge,neral imgact of
tl�� �asoe on pro�erty va�ue� ax�d t�c re�enues; an�d
�REA�� on du�y 1$, 2UU6 tha City Counoil held � pubXia hea�.ag regarding
the cieaiian o� t�e Ztine and its beue�its ta thc City and to pmperty ia tl�e �o�e snd
at%reie�i s. x�tasonab�e opPcn'turuitY f��r (x) alX inf�rested pereans to sp�ealc for or sgaix�st. the
creation of the 7.one, its baun�daries a�r t�e ctmr.��t of i��c inoreme�t ianancing and (u�
ownexs o� real property in the praposed Zone to �rates� i�cs�usiaa of t�eir p�rogarty z� ih�
�one, ss xequiz�d by Secii.ons 311.003�c) ar�d (d} of the Code; and
W{'X�A,S, �avt3c� of the public l�earing was published �n a ncwspapez of
gen�exal cir�ulaxion i� fha Cxty on Jui�+ �D, 2QU5, wbzch sa�s�cs #�e requireman# of
Scction 31 l.d03{c�} a�' the Cada that pubticetion of th� n.o�ce c�ccur not la�cr than the
se�veroSh dap'befoze the date aftY�e pub�ic h�aring;
N'U'W, TF�REFU�, �E �x URDAI1V�b �iY T�E G'�TX �Q't1NCrI.. OF
THE CT'�'Y OF i�R.T WU�i.'T�%'1"EXAS;
Pag,e 2
4rdinRnce Dt�tgpt�ing 7ox rnarament Ratnve�nau T,wet N►�mber "X'weisrq
Ciry oiPort Wot��'I�x�
Sectiat� 1,
�
B'IIYD��S.
'f� afEtx arev�ewing all ia%r,ar�tion be�ozc it r�gardin$ �+ e�b�t af tl�
%one and afte�r �o�ductir�g a pubiic k►ea�in8 rs�s�ciiug t�a �esiio� o� fha Zone and its
baaefte to t�te City end to �Sroperty itt t�e Tone aaci affording � rea�ana'blc opPart�mitY
�oz� (i) all azrteresied persons to ape�k �or or aga�inyi t9ae �ation af the �one, its
bow�.daries or t� oancept of t�c 7uazHmenf finanCing and ('zi) ow�ners of real property in
ths, �xrpose�i Zone ta protest itiel�tsioau of ti�ir properiy i� the Zbne, the Ci.ty Council
hexelry uz�es the fol�owin.g fzndi� of %ct:
1.1. Tlx� s�menfs aud �s set �'orth ia tho �cztals of this Urdinance era true er�d
e4�cC. Th�fore� the City has mGt t1� noti.ae and paraceduraI re��eats
established by the Coda �oZ cr�iar� tr� a iresinvestm�t zone t�tder tha Code. �.
X.2. The Zaz� cunsist� of app�scimately 604 ecras uf Isnd and the ar� wi�iz� �a
7.an� is aaxztig�rnt�.
1.3. Tb�e ovexali existing pxc>perties witbiau ttae Zot�ts ars dcpres�ed and the srea
enao�►easad by the Zone h�s bccn: in a. ga�o�e� state af economic deal9ne fqr the
pasttvvaniy��ive yeaxs.
�.�. '1'he �o�e conta�ns a su'bstanttal nuanbcr oi sabstsnderd and dei�rioz�,g
apaz4m.enis s�d ot�e�- sbruct�ucs in r� of dettxoiition. Cezta�n propert�ea lvcated
in t3�e Znne �vili require r��v�romm�ntal remed�i�tinn befare ue�w dcvelopmeat csn
occ�. '
1.5. T;b:e Zo�e I,acks sssential infrastmctutc to sastain ��ble develapm��, iucludan�
but x1.Ot limibed �o� vvat�'� sevu�x> dt'si►�age� roads $rid s�dc�w'�►1k6. F�ist�ug
Page 3
�Otdin�oa beaiqqatfng Tmc Tna�ea+a►E �eas Zone Number'[Vvelva
Gtity af Port Wmrth, Texeu
�
xnfiasicucta�rc r�ras crn��stxuc�#ed aver �fty years ago and will no� $�pport sdditianal
dsve�o�zn��.
�..6. Based. ou ti� �ts s�t fart1� in Sectio�s 1.3, 1.4 and X.5 �� as we11 as un el�
o13�r infom�iion pmrrided #� snd/or lmow�a by ih� City Cauuczl vvit� zespt.� Gc�
Y.hc arr,�r. within ti�� Zon� a�d the sree� in tixe vicinity of th� Zone, the City Gouncil
hereby %ads that dev�elopnuea�t of tha Zcn�ze vv�ll not c�ccur solely ti�rouglx pYivabe
inve�ment in t�e fore�etja�a�a fut�ue.
�..7. Teking sIl fgct� inta coz�sidez�tiQn, tb�e area withi� the Zone sut>si��]ly iinpairs
and arr� � sot�nd gra� nf the C�y az�d ct}nstituiss an. econoznic l.�ability ar�d
�. mtnaca to the public health asid sa£ety becau�e of {i} a substan�tial numbax of
sulast�ard, dctexioraied and dete�iaxa#ing struci�res; (ii) t�e predtmunance of
inadequate sideata�lc az�ci ak+�ei l�youts; ("ui} faulty lot layont in ralation #o size,
adequs,c3', acr,eseibi�ity and �s�f9tlz�ess; (fv) �msaz�itsty ancl u�.s&fe oonditi.tms; (v)
t�.e cie�eri.Arat�ion af s�te and other tmprove�aaits; a�ad (v� co�aditions �at
�da�gac life and pzope�rty by fire or otber causo. There�are, the �r,ea �evvith� fhe
�ine rne�ts the c��ri.a �oc des��;qatf o�. of �. reinvestment tioz�e a�a.d satisizes th�
requirements of Sccdon 31 �..00S(a)(1) of the C,Qde,
f.8. No m.ore than tcn percent (IU%} or less of the property in tl�e ,'�n�e is used
cu�mz�tly for z+esidez�al puaposes, ss specified by Sectio� �11.046 t��t}�e Code.
�..4. .P,,ccording to the most rece�t apprai� roll o£th�o Gxty, the total appraistd va]uo of
a11 texable z�al praperty in �a Zon,n snd �n existi�g xaunvestment zo�es in the City
does not exc�d �teem percen.t (�S%) of #he tvtal, a�►praised valuc af taaca'ble rr.al
I��Y �. tb.e City actd iun irtt�ust�iai districts cs�eated by t�e City, if anp.
l'n�e 4
Chd6�ace Aeslgt�etin� Ttaxlncran�at Reinv�stu�ept Zone l��mber �veA'4
t�Sty of 1 ort'4Vat@�. �'e�as
a..10. Tt►e Zozus doe� not coaxtaiu moa�e tiban fiflecn pet'c�t (15%) a£tia� total ap]n'ai�sad �.
v^alua o£real propertp taxabla b�q any ca�mty or s�lavol dia�i�t,
Seeiio� 2.
AES��NA'�'�UN 4F 1�EW 7ANE.
That tha G�ty Couucil J�by d�es tha �s�ae dest�abcd in the bot�ada�y
dascriptiou am4l depicted �in #he naflp, both atrached b� as ��b,j� "A" an� m�de �
pert of tb�is (}r+dinas�ce f�r �ail pu�oscs, as � r�iz�vesix►�ut zone pt�r�rii ta snd in
accardan�ce with the Cada. �I11S 1�TiVGBfIJlCilt ZS7AC 9118i� �E �S110t�IJ1 A$ uTA7� �S�Ctilfd3�
�i,nveshnsrct Zo� �i�mbex Tvv�lve, City of Fort 'W'o�, Texas "
Seciion 3.
7A1�E �OAkri QF D�CTQR$.
Tbat a bo�z�d of d'vre�tors for tUe Z�o�na ('►So�xc!'� �.s laereby c�t�A.ted. TI�e Boa1�d
shall cozisi�t of el�ven (� �} members wba shall se3ve for terms of two (2) yaars each Of
t� cle�ven (11) z�embexs, ��tig unit other than �e G'ity that levics #�ces oa real
prcr�erty in the �ng ma.y� but is not xcguired to, ap�oirz� one (1) mamber to tb� S4ard.
A$er esch taxiz�S w�'i other ti�an ihe Citq desig�tBs to tbe G��y �ither ti�c��e of the
znemb�r tbat fhe t�xing tuyit wishes fa app�ix�� ax t�e� fsct that the E�ing unte �wishes to
waiv�e xts r��t to a�point a�atember, tha Ciiy C4nncii sl�l api�it wh�te�ve� numb�ar of
membez�s sre n�cessary to f�.l the ranaining positioxas on tiae Boa�ti. Such mcmbea�s �nay
3�e memb�s oftha City Coun�il.
4
Pege S 1.,
Qniipanca Uesl�nQ'!�x iud'emart iicinv�mant 7.ona Num6rx Twelve,
GYtyoFFai Worth�'1'e�ce�.t
Sectio�a �.
T�KM UF �'.Ql�.
Th�t �►e 7.oae s�s11 t� effeat imxiatdiately upon thc adoption af ti�ie f)rd'ansncx
an.d termina#� an tha ear�ia�r af {i� �ece�abez �1, 2�27 or an e�rlier lexrninatioa date
designated by an. ordinaz�e adoptsci afier �a effec�ve�cl�e of t�i.s C}rdinanoe or (ii) the
dabe on w'hicb ell pxoject c.osta, tax. imc�rement btzr�ds attd ir►tareat On tihose bonds have
bEen p�id or oti�Cw'sse satis�ied in fiill.
Section 5.
AET�Rt�iNt1 TIO1�C UF'x'A� T1�CRLIV�N'� BAS�.
'fhat the tax in.carem�t b�se �or the Zone, as de�aned iry �atctzon 3�1,Q12(c) af �c
Cade, shali be #be tots� appraised value a£ all real proPa�9 in thc �oz�e �ebi� by a
te�cing unit as ofJanuary l, 2005, which is i�e �►Car i» �vcrhie}� ti�a Zaue was ctesignated as a
TElI1VCStiACI1t Z(iAE.
�OCi�Ox1 b.
TAX kNC�tEMi?,N'�' �l�D.
'I'riai a tax in�remeut fund for il�e 7one (the "T,�P' i;'aud"� is hezeby est�Xished.
'�las T1F F't�mt ma.y be divifled into sdd�danai accaunts and sub-accot�f.c authorized by
resolution oz ordinanc� nf the Ciiy 'Couurcil. Tha TT� k`�wd sb.a.0 cansist o#' ('i) the
I�eraezitage of tJ�e tex inerernent, as deflz�td t7y So�#o� 31 lAl2(a) o�the Code, ti�st eech
t�ing u�i vu�ich tevias �ak �tmpeYty tsxes Un t�►e Zom�, othe3r ti�n �e Gity, has electe� to
dedlcste to t�e TI� �i.ad puxsuant to sa egreemearY w�th i�e �ity aud�o�ized �y �a�i.ot�
ppge 6
C3rd�qancc bee3gnating Teyc lnaanmt Reinvaatmau ZoncNumber TWelv�,
Ciry of k�ort ww16, Te�xas
3l �.OI3(fj ofthe �de, plus {'ii} the City`s cornributian of one �reci pa�ce�at i1Q0%) of
'�e Ci1.j►'� t�►x ita�rament�, as de�'ined �g Sect�oa 311.4l2(a) o� tha Code, subjoot to an�
binding agreanna�.t execu� ax any t33t��na by tha Ciry fi�at pladges an; az�ao�mt r�f le�Y
aweilabla City &wds wh.ase calcu3�on is ba�e:d, in whote or in part, an pa�ne�# tti oz
c�c�ipt }�y the GSity of auy poz�i.on of svch taac incre�i. 'xh� 'TIF �,ind siaall ba
m�intained in ar� accour� at the depc�tory bank af �ie Ciiy aud shalt be seaured in the
mann�r pr�seribed by law For Texas ci�ics. �tevenues in the'�' k�nd w411 be uscd ao�elp
in accoz+c�aco'a►ith S��tion 311.U1.4 ofs�e Code.
Sec#[on 7.
TA� �+TCREh�lG�N'Y' AGRE�N�N'1"`�.
'�'hst, pursuent to Sections 311.d08 and 311,�13 of t�e Code, the Cit3' Managez'
end City .A�rney ete hereby aufharazed Ya c�c.ecute axxd deliver, f4� axtd. on bGh�lf of tk�e �
City, t� i�t�eznezzt agreez�el�ts wit% #axing tmits that ravy resl �z+�perty taxea is� the Zoz�e,
8ecti.on 8.
SEYL�R..�b,lgXl.,l'i."Y.
'IY�at ii any porti� sccki�tt dr part of a section o� this Ordinat�ce is subsequ�aaiiy
cleclared in�alid, iuwperative rnr void for an� reeson bp a court af aam�nt jurisdi�tion,
thc remsaraing port�ons, sxk.o�s or par�s o� sec#ions of thi.s QzdinauGe �l be snd retnain
in fv11 forca �nnd effect a�nd shall nwt in a�► way be impaired ox a�ffect�d b� sach d�ision,
opinian ar�u�nent.
p� 7 �.
Ord�nance f)esi�natlrtg Tex trtcramcnt t2.�v�c�R zorta Nwnba il�vdvq
Ctty o��'vn word�, rexaa
;►�,� :!_ .r.
� " � �._..' . _ t ' _..\�� 1 :! ' � �_� } ., � .� � i 1 U __i� �� �
The iracts ta he desugfna�ed as 7'a�c IncrGme�nt Reinveshneut Zone Nu�a'ber 'X'welvo, CitY
of Fort 'D�orth, Texas fax i�c incr�mc�nE f��ancing ptnpase,� mrs c�api.a�etl in t1�a
accornpany�g map a� are mo� p�rticu�erly describad by the £c�llowing xnetes �
bou�ds:
Beltl,g � paCCea D� �C� 011f 0�, '�10 J. �t1�8 Siiii►8p'� ,ldib9tiACf I1�1l1'�� Q��� �1C Ci. HST$2',0�;
Svrvep, At�stract Nwnbex 697, tk�e J. Just�r� S�.0 ve�, �A.bstract Numbeyr 859, #he �.�' ,
Lo�Viug S`tuvey> Absb'8C� Nu�mbex 943y the W.R. T�a�g S`utYey� Abst��t NUm�e�C 94$�
i�e Tt.iL Ranney Surtvey►, AbsUract Nuno.bez 1.3�2, fhe A. Sti�an. �u�re�r, Abstra�
N'u�ntier 14� 13, t�e A.. 'Z'b.ompson Surv�y, A.bstra� Nwaa� 1499, and tI�e �.5. rerrel l
Snrv�y� A.bstsact IJ'tux�ber 15�'�a 81'ixla�. ,IR 1�16 C`t'�j�' b� �axC WOT� Tfl1YaIIt C4tt1ICy £�
bciug more pa�rti�u�ar1� de�cri�ad by naetcas �nci bp'u�►ds ag fallows:
BEG�N� at ilxa intarsection oithc East right�of way of Ynt�nstata I�ghway 35W a�ad
tk�e North right�of-way o#' tha T&1' Railrosd; �
THENC:�: vvida fhc Eagt �ght-�£ �q af said Iuutexst�t�e H�ghway 35"S�, l+lorth to th�
Southwest cdxmez of Lot 16� Dobbins Sabdivisiom;
'X'X�E,NCE: �vlth the Sot�#h Une o� seitl �ob6iz�s Subdirrision, �ast #o rh� S�u�ast
oornar of irot 9, being in the We�t ri�ht-of-wa.y a£ Evans Ar+onua;
T�EN+CE: �ouii� wit� t�e Wast z�gist-o£ way of said Bvans Avenue to the projec�ed
i�z��secbou of the South line �lock 3,1r�1orningsiiie T�race Ai3ditiam with
s$ic� We�t ri.ght-o� wa�,
'�,'�ENCE: � with the South litte of said Blocic 3 to and a�ong tb.e South lina of
Block 2, Morn4ngside Terrac;e A,ddztzott, b� the East right-of way a€
N�'�saisaippz Ar�enue;
'�ENCE: wi� tt� F�st right o�'w�y of sazd Miesissip�i Aves�ue, North � ihe
imtersedian a� said Last rigt7t-af-way an,d il�e �outh riglat-of-cvey of t�lcn
i�ardaa �ve.
T�ENG''L: w�tJa t�e Svutb� zigtatraf-r�vay �f s�ad C31ea t3arden D�ve to ihe
Sot�wast�ty �ight-o� �oc�sy of Old Mansfield �Load;
TaENCE: vvi.th #� Southwcstttly rtght pf-wa,y of said Old Mens�Zeld Rvad,
So�ea�ly ta the intearsea�io� oftize SoWhwest�ly ri�ht o� w�y o� said
Q�d Mausfield �.oad and the Not�cvest�� rigtxt�of-way o£ Bast Berry
�iree�
OrdlnanctAosS�ratiagTax inorema�txtainvestrnem Zone t�i'umbcrBlcv+ea.
{��Y of Fort Worth, Tacas
z`HE1�rcE: wi#� rhe rro�rchwcst�rly saa N�rtlz xight�tf vvay o� s�id East B�cy str�,
Nortbeasterlp and Fast to tb�e i»t�scation �f i�e North right�o� way of aazd
EasE Be�y Stre�t and t�,e �out�.wvesterly rightra�f wa.y of'Vaughn
Botile^vaird ;
Ti�N�: S�utheaster�y wi.t� th,z Southw+estarly �-af-w�y of said'Vaughn
B�ul��vard, an�d Soutt�easterl� to the iu#ersea�aon of said Soutbv�teaterl�
�ght of-r�vay o� Vaugha Street and the I�TartlxwesDer�y r'sg�t�o� wa.y of
WicY,ite. Shee�
THFI�TC'�; wi� tbe No�rtt�wcsterly rlght of-Fvay o#`aeid 'tiNic.�it�a Streot, Sorzthweetezly
and South io t3te S�u�heast cornea of the Masonic Homc Sc�wol A.Qdiiion;
'TT�1�iCE: with ti�e South Iine af said Mesonic Horne School Addiii.�n, Wesst to its
�Quthwest t�nngr and the �as�trly zight of-way ofMi#�►ell Boulevraz�d;
�ea�rc�: �� w�l� i� o,� �;� �o�c x�fl s�►o1,�.a��� �a-�.e
�estarly right-of wa�y o£said Mitchcll Boulevard, I�a�x�v�est�rly az�d
�tor� to t}u� int�ra�ction of the Eest rIg'�t-of �ra.y of said Mi#chell
Boulavarcl antt t�ie South �.gh�of-way o£ said East �e�y Street and the
Northwcst co�r of` sa�d Tvlasonic Honne �choal Addifion;
`T�11?C,�: vvith ths Souti� arnd Southeasterly righ�£ wa� of Bast �rry Stre�t, �+'cst
a�d Soutb�west to #he i�rscction of thc �vut�exly zigb:t•af wa.y o� �ast
B�ry Strect anc4 the Sou�thwcsterly z�g�tro£-way of said Oid Maasfield
ItOad;
T�iENCE: with #b:e 5at�h�c�vesterly r�ght-of w�y af'said Old �isnsSeld R.v�d,
SOt1tIIC8,L'� fd �1G NOS�'3E9S� COiA�T O���OC�C �, fl.U. W�att Ac3r�t�o�;
'��CE: �itest,l�Tort%'west, a�nd Southwes�t � tha North line of seud Blaak 4�t�o t3ie
Norther�y z�ght»o� wa� of �ri.arda�e Ro�cl;
'�`1�CE: with s�d �arth �i.ght-of-way oi Bri�c�ciale Raad, 'C�Test to the Sou4heasti
r,v�t�er of Block.l$, Ro�ling H'itls Ac�d'zta.on;
'�HENG�: wit� fihe E�st line o�'said �lac�C 18, Noxtlx to its Northoast cor�;
'�I�TCE: with t� Nax�h line oi �td Block 18, Wt�st to its Nortbtwes� �omer;
�'HBNCE: with � VJestexly Ii�ne of said Block 1$, Soutl�wcst�;d.y ta f3�a Sauthvvest
coruer of saad Block 18 auaucl ihe Northwoesbrarly right of 'w�� of said
�3rlardAte �.oad;
T�NC�: wxth fhe '�Tort}�wtst�sly :dg#�of way A� said Bria�rdale �tasd,
Soui�w�stexly to tho East eomer of Slock 1'1, Ra]li�ag Hil�s Addi'tion;
o� ne�t�sr� [no►�xa,�es�cz�n� rt�rpe�,
ctty ort�w�, r�
�
'�'HENG`E: witxt the Northe�sfic�'ly li,ne oi said Block 17, Northwestaxiy to its Nortb.
mastNortheust cnmer;
'�HE1+T�: with tk�e North and Northwes�O�z1y line of said Bloc�e 17, Vt�'est �n.d
Sou�b:ac�estezly tn tha Norti�.vsrast coraer ai �id Bloci� � 7, the Southvsrest
comt� ef a�.54 acre t�act of 1.and otrt o� tt�s S.�'. i,oving Suxvey, Abstract
Numbe� 943, as oo�tveyed to the International �P►ss�oaistioa Qf B�sak
Frvfcssion�l Fire Fig}�ficrs e�a recoxd�ed in Vaiwm.e �.�#013, Pags 423, I3ee�
Rscords, Tsrxaut Couuty� Taxas, and t� F.�st xightra£ wa.p o� Sa�.th
Itiver�ide Drive;
TH,ENCE: v�►ith the'� �rigb�t� af wgy o�' said Sotiib. Riv�xde T7xix'�'e �ui the 'aV'est line
of said 2.54 ararres tract af i�d, I*Yot�h ta tl�e Northwest eorncr of sald 2.54
scre #tact af �and;
THEl�IC'�: Noz�ihavesterly to ihe W'r,st ��ht-of-way of sai�d Sduth Riverside Drivc� the
South�st cor�e� of a Q.fl3 acz� �c� o� la�nd out said 7.�'. ioving Survey;
�NCT: �wi�hh the �out� line of saicl 0.03 acre 3iact of land, '9V�est to the lF.,est most
COTT111Cf O�X.flt 4� ��ITy �it�tl$�lA� �� �l.C��1L�0I1>
'�ENCi�: �rith tha mea�exs dfiha Sauth �i�u of sa�d I.o�t 4, Sc�uthw�y, �esterlX
andrlortbw�sterl�' to t�e'W�st I'vae of sai.d X.,ot � an.d tt�e Ea�t ri.ght-vf way
O�YliIia St�eet,
�'i�NC�G: wit�► tbc East rigt� of �ra.y of said Yuma Sireot, Sauth to the Sout�.east
curner of s�id riglai of wa�► and the I�%rth li,z�e o�a S.bS acxo tract of land
out a� said J.�'. Loving SurveY�
THU��'CE: with t�o Nortb� line of said 5.65 a�xa fxact of land, East to the l�orthea.st
�orner of a lf .SO acz� tract o£ la�nd aut af said J'.�'. Lavi�g SurvsY a�d �
West corner of Bloc�C 2, £tiv� Bend {�ondos;
7'HENCE: with t�e Northeaskea�y ii�ue a£ said 1 fi.SO acre t�ct nf l�.d and tb�
Sout�vvesterly l3ne of said BXock 2, 3outheast ba t�.e So�thnvest corrier of
�aiQ l3loak. 2 an,d �e Nm�thwest cazner af a 1.27 �re tract oi 2azui out of
ssid J.P, I.oving $cuvey �s eonveycd to Sininisn'�v�apx�en� in Vojume
1607A, Page �32, X�aed Records, Tarcant Cnw�ty, Tcxas:
'�N�: vvit�a the South line of seid Hlack 2 an� �he �Iorth 1iz�a o�F said 1.27 acxs
trar� of lan�d, Easi tcy t� Soutt��t comxr of said Bfdak 2, the Northeast
eozm� of sa�d 1.�7 �cres #rac� af land ancl t}s� W�ast right-o� way of said
�outh �tivers�d� Dri�►e;
Ordinnnca A�i�'i�c Wcsem4nt �m�hr� Zon� 13mnber L�1e�s,
Ciry o� Fort Wa�, Texaa
T�1'G'�: wi�.h the Basi iin� of said 1.�7 ecre t�ac# af ia�nd, s�ad the'G�iest r�gtrt.of-way
of said SQut� �tivexstde Arirre, Sat�Y�esasierl� to �e Nott}ae�st carner o�
Bloc�c A., C�c.e'T'am�lc Addition;
THFNC�: witlt tha Nc►x� linc of said Black A, '�Vest to tiye Noxth�e,sterly clg�Z#-q�
aray o£the TBuP R,ex'lroad;
T�ENCE: wid� the Northeastezly xi�ght�d£ wa�► �f said T&� Rnilroad, Noxthwes�rly
to tk�e 9nter�ec.�tlon o� t�e said No�easterl�' rig�it-o£ wsy o� th�e T&P
Railr�a�3 �nd ih� West z�gb�t�r way of the In�ernat�o:aa18� C�cea� No�ihezz�
Railmad, aa�d t�$ Sautheasi aornsr of i�oi 36, Blor,� 4, Momingside k'axk
Additian;
'�S��E: wath Wc 'OV�esterly right of-w$.� nf said Xnt��iian�al & t3�rc,a# Northern
R�i]xo�d nnd t;ie Sou�hea�Yerly ]ine of said Slocdc 4, N�orningside P�xk
A,ddit�on, Nard�easterly to f1� South coruer of tlac John �uda] Addition;
'T�NCE: w�th the L�ast Iisae o�said B�ocic �F, Mor.�gsitde Park Aridi�io�3 �ud t6e
�V'e$t linae of sai.d ��ock 2, J�im. Yteadoi A.ddition, NcuPh 6o ii� �arthr�sc
cc�mer o�eai.d Blaak 2, andbeing in t�e V►Tost rlgh�of way aiiv�issippi
A,v�;
THENC�: vvith fha �est lin� o�'said Blor,�c 4, M�gsid� Addition and tht VJest
right�of way o£ said Mississippi Avenue, Noxth to ihe Nor� �xoa�
l�ortheast corner o£%t 5, s�id B1oC1C 4, Morningside Add.ition a»d the
South right-ty� �ray of aa alleq;
TIiEA1GE: witbt the South right of vtay af said a�l�y', West to t�Ze Nori�.rqest caxner of
Y..et 1� Bl�ok 2, said Mozningside �ark ,Addai�on, and tl�� fi�st right-of we.y
af Evans Avenuc;
'x'�NG�: �iVest to th�'West z�igh�o� way af said �3vans Avenue, i�.a Sauthc�ast comrx
af iot 1, Blook A, a�d theNortheast corner of Lat 1, Black I, said
Niomingsida Pa�ic A3�iidon;
'L'HENCE: v+rith the South ling of said XAt 1, 81oa�C A., and the Nox#h aine o� sei.d Lot
� 1, Block 1�'�Vest ta tho Nari�west carnex c�f said Lat l, ��ock 1;
'i`�iENC'Ts:: r+uith t� West lir�e o�said Block 1, N.[o�d� Park A.ddition, South to
the I�orth �t-of-way of said T�,P R�koad;
THENC'E, w�h t� Nori� right �f way a� said T+�' R.aidmad, Northwest�t�q to th�e
p�ee of begir�aning, and aontaining sonne 3,97U acres of �n�..
NoLa: T�is exbiibtt pzepared under 22 TAC � 663yI, daes uot xeflec� the re.aulta Qf aa on �e graan�d aurvey,
snd is not to be usad w couvey or es�tbltsh #�berast in taat property exce� thoe6 r`�te and intaest im�ti�d
by tl►e a�eatian or reaon8�gnrati� of the bdundsry aPd►e politicel subd�►lsion fa¢� wbic8 it was p�paza4_
ordin�oa Da�sigiatiu� Tax incrcmar►t Roinv�t Zone Tiutn�cr �ltsvaa,
(�y oPFort WOtfi,'lbtea
t
Section 9.
�irAIATE ER�`ECT.
T�ud ttsi� (�inancc s3iall ta'�e e� and be in fulI £arae a�:d o�ct frnm and a�er
i�s ad�ption.
AND LT` I� St3 +d�tY1AiI�i��.
- rt� :� � • .+��,�
APPROV�A AS 74 �QRM AND �4ALXT'Y':
�
By: ,..�.._,_.._
Petex Vaky
� A,sszs�nt Cify Attorncy
Aate: 7"[ �' lJ �
�vi8cC• t�-1 z99
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Ordloance iksfgttadng'Tax Tn�aen�t.�t R�n�estment Zane xvmb� 2lvelve,
t�+ o£Fort War6�, T«es
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EXH�IBIT ��B"
'T�F' PRU,yECT A!V"D FINANC�.NG PLAN
Ta� Increment Reinvestmenti �one Nnmber �"vvelve,
�iiy of Fort `V�art�, T��cas
(East Berry Renaissance T�
Pro��vet P�n an� Financiag Pian
Ta� Increment Reinvestme:nt Z�one �umhe�r'�"welve,
City of Fort W orth, '�e�as
(East Berty Ren�ias�nce TI�}
Project Pl�n and Financ�ing P�an
Table of Cotiient�
T. Tax Tncremtnt �iu�a�ntciz�g Overview ........................................................... .................................3
Ti. The project Plan ............................................................................................................................5
.A. Doecriptior� o#'the Zone ............................,..........................,.....,.....................................6
i. N.�ap o€Hflandary .... .............................................................................................7
ii. Loga1 D�criptio�n ..................................................................................................9
iii. Map of Existit�g iJsas ........ .. .............................................................................14
iv. Map of Pro�erty V��ees ......................................................................................1G
B. Proposed Changes ta Gi��rreat 4t+dinaaces artd Cndes ....................................................18
C. Estimatcd l�lon-praject Costs ..........................................................................................1$
D, Met#�,Qd of R.elc�ting Dispiaced pecsona .................................................. ....................18
TCI. The Fina�ncingPlan ............................................ .............................. ...................................... .�9
A. Eca�omic Feasibiliity af the Ztfne ...................................................................................2Q
B. Praposed Pmjacts and Tmprovemerats ................................................................. .. .......22
C. Revenue P�ajecticros .......................................................................................................23
IV. Summsry of �'roject Cost� ar�d Fivancing .......................__..................................................,......25
'V. Tables ................... .. ............................................................................,...............................,......27
2
Ie T.A►� ��R�MENT FIN.,A►.�CING aVERVIEW
L '�'AX XN'CREN�' FiNANCII�iG O�ERV�.EEW
T�c incre�ment financing ("T.�[F'� is a#t�o� Te^xas lc�cal govearnmenfs use tn �txanc� publ�c
im�rovern��.ts withi�► a defined are�. These improvements are intended to promote
developrnent or redeve�opmen�t ftx th� defined area attd sunrounding �reas. Tho P���Y
statute govez�ning ta�c incre�maat fuYaz�ci�ag is codi�ied in Chaptcr 311 of t�►e Texas Ta�c Code
{the "'�a� Cade"). Chap#er 31 I is oftez� xe�'ez� tt� as the Tax �nc ,mm.ent Fix�ancin,g ,A,at and
it allows municipatit��s to create "reinvestm�rt zones" witlain wbich variaus public
itnpro�von�.ents c�n be underta[cen.
A muni�ipality malces an area eligible for ta�c increxneut financimg by de�gnating a
reiuvesf.�aent xpu�. Esaential�y, far tk�e Gity to ini�ia#e t�e designaticu�. of an area as a
reinvesirnent zane,� the azea must 1) s�bst�tially arrest ar irnpair th� sauud growth a£ th�
municipatity careating #�e zan�e, �rd the parcivisiori o£ houaiur� accvmmodatians, or
constatuie an ecanomic or soc�al l'zab�il�ty and be s menace ta the public heatth, safe�iy,
morals, or welisre it� �i.ts present conditatm; or 2} b+e predam�inately open and, b�cause vf
obsolete platiing, c�te�zqzation of stnYctwce or s� improvemenb, or oth�;r fa�ors�
substac�tially ��air ar azces�t the souud growth o� the municxpa�ity; oz 3j 1� iri a federally
a��ist�d new cvmmtmi�ty located in� tk�� zx�wkicipality or adjac.��t to such propecty.
At i�e timc aa area is designat.�d a r�iuvestment zone for ta� increment fina�ai�z�g, the
�zraisting tate� appraised value of real �rope�t.Y iu #he zone � idenl�fied and designa��d as the
"base value." All �g units tiiat levy ta�z.es ir► the zone duuring the life a�' #he 'TIF will
cot�tin�ue to rece�ve ihe t� z�evenues t9eri'ved from the "base �va�ue."
As new deve�o�m�at xs added to the tax ro[ls wi�in the T� area, tatal assessed valustia�ns
zxse. Tl�s xise in new vaZue is meas�red axuxually aud is called the "ca�tured appraised
value". The ta�es that ara callected by �he pai#atcipating ta�ing jurisdiciions o� ti�e
incremental incr�as� betw�ett #1�e origiaaa� "base varue" at�d t,�� cument year's "ce�tut�d
appraised v�ue" is the "ta�c increment". Eaeh taxing uc�it choosing to participate in the '�
will a�ree #o deposit' a portiqn ar �11 o��th� taxes genera�cI'fi�om the "tax increm�t" into a
TlF �uad administeered b� a'� �aard fhat ie appvinted by th� �ocal t�ing imii�s.
�'h� 'i'i�' Bo�rd uses the t,�x. incr�mez�t to make public improvements in th� area to att�act
pzivate ci�ve�apr�;ent t�at wo�uld not otherwlsa occur or t#ia� maq not accuir ur� a,t a much
late�r date. A�dditirnnally, the 'I`�F T3oazd may enter into development agreeme�,ts to
p�i.cipate in new deve�o�un�nt or red��vclopmc��
'iire TIF D�istrict ez�ds on the earliar o� X) the termit�tion dai�e coz�tained in the ax�di�nat�ce
esfiabliahuig the zoz�� ur 2) the date on �whioh all p�roject cost k�ave bae� paid im fuli. Ar�y
xerrenues x�aining in th� TII� fi�nd after the dissa�ution of the Ti� are xetiuned pro rata to
each �articxpa�in� taxing unu�
4
�� ii a �i � �'� � t,
II. THE PROJECT PLAN
Acknow�edging Fort 'Worth's continued economic grawth, t�e �xty Co�uncil oi the City of
Fort �'t�o� has made f�e revitali�zation snd renaissance of the aouthcast area af para�nownt
ima��aztaacs. �n general, the TIF Plans co�nplaYe t#�at paraspective developens of �roperties
withi� th�e '� may �'und pc�zlior�s o� �ublic infrastructvre assacia�e�d with davelopmc�t
apportuuitzes uiilizang finartci.ai sup�ort #'rom the T.[F Board tbxo�ugh deve�opmer�t
agt�eemenxs that pravide for reimbt�rsement of eligible expenses for 1'hese de�►elopmezrts. rt is
also snticipated that tk�e '� Board rnay wadeartake ceztain �ubiic unprovcmerxt projecis once
st�'icient � incremeni is available in ar� e�fo�rt to further enhanae the area, thereby m�aki�ng
ix more att�a:ct�ve to new devela�ment and recievelopme�rt.
'�e Easi He�riry Renaassance 'I'� xe�resents a� important o��itY to suApoz�t v�ab[e
economic rede�velopm� in sautheast Fort '�V'mth. The area encnmpassed by the '�' ha�
i�een in a genex�a� stat� o� eco�om�c decliune vuith rrery little �e�t► p�ni�rat� investmen�t takimg
placa in the past twez�ty-f ve y�azs. Tn order to support naw and dens� develo�mer�t in the
fi�ure, tha basic infrasi�uchure irt the ar�a must �e up�ra.ded becauae masi a£ the existai�ng
water, s�wer, and storrn drainaga systenos wer� consfxu�ted more f�an fifty years agn.
A. DESCRIPTION U�' THE ZONE
'�e reiz�ves�r�.�t zone outlined by this Project Plan an�. �iw�nc�ng �lan ("t.he P�ans"} is
located in t�e souiheast area ofFort Wo�, Texas anfl emconrkpasses property that is bounded
by Glen �r�rde.n T)ri�rc on #he no�rthernmost brn�dacy, State Highway 287 on the sastetrimo�t
boundary, �taysz�side T�ri�ve east o� �py St�et on the southernmost baut�dary, and �aterstste
Hi��way 35 Fxontage raad on t�te westernmost bounc��t�y_ �ais area i�cludes ma,jrnr
iu�t�eciions such as Ri.verside 8t Berry and Bexry & Mitchell and it iuncludea the Maao�aie
Home of Te�as Schoo� pmpexty.
A map of the boundgry aztd the iegal description of the � are cont�ai�ed om the fQliowing
pag�s as well as maps af the e�istiang useg and properry �►a�es.
6
i. �AP C}F T`� BUXJ�TDA�.Y
i. MAP UF T�E B4UNDARY
ii. Y.EC�,L iaESC�tIIP'l�"�ON t��' THE ��I+,
ii. LE�AL DESCRIl''PiON' O�' 'i'�E 'TIF
Boing $ parcei of lan�d aut af, the J. Huio Survey, Abetract Nuaraber 669, the G. �r�rag Surve�,
Absbract Number 697, thc J. Just�ce S�.uvey, Abstraci Numbet 859, tho 5.�. Laviung S�u�v�y, Abs#xact
�Turaber 943, tiic'Ni�.R. �,oving Survcy, Abstractl+lwnabcr 948, t�e R..R.. �ney �urvey, ,Aha�ract
N'tutaber x 342, th�e A. Stinson Surveq, Abstraot Nuombcr 1413, the A. T�o�z►psan Survcy, Abstract
Num�r 1499, and the E.S, Temefl Survey, Ab�tract Nuu�ber 1527, situated in the City Af Fort
'Worti�, Tarrant �ouMy and being more pa�t#icntarl�► dcgcrib�d by rnetes ar�d boundg as fo[tows:
H�ginning gt the intcrscct�on of the East right-af-way of rniorst�te H'iighwa,y 35W aad the Nort�
right-o��avay a�the T&P Raiitoa�;
T�aence: �av�th tf�e F,ast right-of-way o�said Interslate Highway 3SW, Ndrih bo thc
Southwest cx�rn�r of Lot I6, J7obbine Su'bdivision;
�'henca: with t�ae South lin�c af said Dobbin�s Subdi�visian, East to tfie Southeast comer of
I.ot 9, being in the �Vest rigbt-of-way vf �vans :A,vcnue;
Thenc�: South vvith the West �i�ht-of wa� of sa�d Bvans Avenue to the projecied
intersection af t#�e Sauth lin�e Biaclr 3, Mornimgside Tercace AddiEtion with said West right-of way;
'�'hence: East witfi the Sotrth lime of s��d Block 3 to and etong the South line af �locl� 2,
Mom�r��sade Terrace AdditiQn, to the East xight�af-way o£Iv�issis�ippi Avenue;
Tt�ezace: with the East rig6t nf-�utiray o�said Mississippi Avenue, Nortfi to t.�c interscciion af said East
�ight�of-way and tha Sau�th �right-p� way o£Glen Ga�reien Drive,.
'�ence: vv�t� the Sunt� right-of vva►y o£ said Glen Garden Drive ta the Sqnihwesierly
right-of way ai' Otd Mansfield Road;
Thencec r�vii#� tt�e S�uthwe�sterly zigE�t-o� way o:f eaid C13d Mgcw�.s�1d Road, Southeesterly to the
intersection o�'the Southwesterly r�ght-of way af said Old Mansfield Road and the Nurthwcstex(y
rigbt�uf-way of East �c�ry Street;
'I'henc�: with tho �iortb,westerly and North r�ght-of-way of s�id Last Berry S� Northeastcriy ar�c�
East to thrt iata�tection of the North righ# of-way of gaid East Betxy Stte.�t and the Southwestet��
�ig�t-af-way of �V'aughn Boul�v�r�d ;
Thence: Sout�oasterly wiH� tbe Sonthwest�rly right-af-way of �aid 'Vau�h� Boulcvard, �nd
Sottffieagtexl�' ta ihe intersection nf sazd Soutttwesterly dght-o� way of Vaugbn Shxet and ihc
Nort�westetl� right-of-way of Wichita S4�ot;
Thence: wit� the Narthweste�iy �i�t-a� way� o�'s�id'Wichita Stree�, SauthwesterEy and
Snuth to the Southeast co�ner of the ivlas4nic Home Sc�ool A.ddiiion;
10
Thaice: with thc South ii�nc of saed Masnnic Ho�nne Schoo[ Additiony West to its Soc�ttavvest corner
and t�c Fasterly right-af vvay of Mitchcll Boulevard;
Thence: with the Westar�y line of said Adasanic Hoinc Schoo� Addition and the Easterly
raght-of wa.y o�'said Mitchell Boulevacd, Northwesberlp and 1�Torth tn tt►e it�t�rsection o�'th�e East
right-of-way af ssid Mitchell Boulcvard �a�d tha Soutti r�gh�o� way of said East Berry Street and the
Nortttwest corrter of said Maeonlc Hrna�e Sohooi Addition;
'�c�ce: vvith the South and So�casterty r�ght-of-way rnf �ast Herry �trcet, 'W'eat and Southwest w
the intecsection of i�a Sout�erty rigb�i n� way of East Borry Strect snd thc S�rithv�rest.�rty rrght a�
wa.� of sai� 41d Mansfield Ito�.d;
Thence: with tiie Soutt�.westerty right af-way of sa�d Uld Mansfield R.oad, Southease to th�e Northeast
comer of Bloclr 4, O.D. Wya#t ,Addition;
Thenca: VU'est, rTorthwest, and Southwest �+eth i�e Noxth ]ir�e a�' �aid Block 4 to t6e NoLtherly right
o� vuay ofBria�ale Road;
"�'h�nce: rvith said l�Torth right-of-vv�y of Sriard�le Road, Wesi to the 5outl�aast carner pf Block 18,
Itolling �ills Addition; .
T'�ence: witi� tl�e Eest {itxe o�said Black 1 S, Norti� to its Nucthea�t cflrncr;
T�.ence: wit� the No� line o�'said Block 18, West to its Norti�west corner;
Thencc: witia the'Westerly line o�'said Bloak I S, Sauk��weste�rly to the South�wes� c,o�-ncr of said
Block 18 aa�d the Nort�westerly right�� wsy of said Hriardale Raad;
�ence: witia the Northw�sterly ri�.trof wa� of said Briardale R.aad, Souti�westerly to the
East cornex qf Blocl� 17, Rolling �ills Additiont;
Themce: wit� the Northcasterly lir�e of said Block �7, �fiorthwesterfy to its Not#fi most
No�heast cocner;
'Tb,ez�r,e: with tht� �Torth and No�thwesterly Urxe of said Black l�, West and S4uthwcsterty tu the
l+�ortf�west cornrx of said H�ock 1'�, tbe Sondt�►est corner of a. 2.54 acxe tract of land out of tine S.�'.
Lo�Ving Stut'vcy, .A.bstxact �tuzrabetr 943, as aonveyed bo the rntem$tianai Association of �tacl�
Professiortal Fire Figk�tecs ae recarded id Vaiume 14023, P�ge 47.�, Dced Records, Tarrant County,
Texas, and the F�st �ight-a;� way of South �verside Uriva;
Theace: vvit� tlae East right-of way o1f said Sautb Iiiveraide Drive and the West line of �gid 2.54 aca+�
tract of lsnd� Norii� to tfie Northweat carner oisaid 2.54 acre tract of latid;
Thcace: Norifiwesterly to �e West righ�of way d£ said South Rivcrside �rive, the Southeast corner
o� a Q.03 aere tract d� larad Qut said J.k. Lavit�g Stn�vey;
T�e�ce; r�vi�tfi� the Soath line o�'ssid 0.03 acre tract af Iand, West to the Eas# most corner of i.ot 4,
Deny Induatrial Par1� Additian;
ri
Thence: wiith� tho mcatad�'S 4£ihe 5outb Iine of said Lot 4, Saufi�westeri�+, �Vester�y and
Nord�westedy to the Weat line of safd I.ot 4 and t�e P,� right-of-vvay of Yunna� Street;
Thence: wii3� the East �ght of-way of said Yuma Stree4, Sovt� to the Southeast corner of
said right of-way �nd ti�e �Torth linc o� a 5.65 acrc tract o�' land ouC o£ said 7.P'. Loving Swv�,y;
Thence: with fbe N'oxth line of said 5.65 acre tract of land, East to the Northe:�.t corncr of � 1G.50
acar� tract af land out c�f said J.P. Lo�'ing Surwey and the Wcst carner of �31ock 2, Rivex Het�d
Condos;
'T6eaace: wi�th t3�e N�rtheastcr�y liune o£ sa�d 1 G.SO acxe t�act o� tan�d and t#�e Southwesterly
linc of s�.id Block 2, Southeast bo the Southwest carner of sa.id Black 2�wd the Notthwest comer of a
I,27 a,cre tract o£ laad out a� said J.P. Lo�ving survay as canveyed to Sin�iat� X}eveloprnent in
Votume 1602D, Page 132, Deect R.e�oras, Tarrant County, Texas;
'X'#een�e: wi� t�e So�. �ine o� said Blocl� 2 e�»d t1�e No� line of s�id X.27 acxe tract of land, Eaet to
tiae Southeast aorner of said Bloc�C 2, ti�e I�ioctheast corner of seid 1,27 ac� tract of land and ths
West �ight-of-wa� o£said South �ti�verside D:tiwe;
'i7ae�,�e: wit� the F..ast lino of said I.27 acte traGt p�' iand, and �c West rtght-o� w��► o� said South
Riverside X3cAve, Souiheasterty ta the Noxtheast cort�et o� �.ilock A, Grace Te�mple Addition;
Thence: w� #he North li.z�� o� said Bloc� A� West to �o Northaasterly right of-rvay of the TBcP
Railroad;
"t'h�nce: with the Northeastexlq right of way of said TBt�' X�.aalKaad, Northwcstc•rly to the
interscctian o£ i�ie said Nartheasrterl� rig}�t-of-way of the T&P Railroad and the West right-a� way A�
the It��ternatianal &{�rreat Northern Kailroad, anci tfie Sout�east corner of Lot 36, Block 4,
Morningside Pat�t Addition;
The�ce: with ttxe'Westeriy ri�t-Qf-way of said Internationa! & Gxcst TTarthrxn RaiUroad
and tx►e Sautheasterly line o�' �suid Block 4, Mo�i��side Park Additiot�, Norf�eastetly to t�►e South
corner afthe J�utm Rando! Addition;
'I'�enc�: witia the Laet line af said Bloak a, Morningside �'ark Additio�n �nd the West lin� ofsaid
�lo�k 2, dabu� Raz�do� Addition, Nflrd� to the Noxtiawest coz�nor of said Blocl� 2, and being in the
Westright af vvay ofMississippi Arrenue;
Th�ce: i+vith the Eaet line af said $lock �4, Morningside Addition and the'W�t rigbt-of way o� said
�1�'iasisaippt Av�nue, Naxt� Ua the No�'fh mo�t Nort�ea�t cn�er of Lot 5, said Slock 4, Mam�ft►gside
Add�ition and the �oudi right-of-way of an alley;
Thence: with the Soutt� right�of v�ray of said a11ey, West ta tt�e Northwest camer Qf Lot 1, $lock 2,
sa�d Morningside Pgrk Addition, and the �ust rigk�t�f-wa.�r of Errans Avenue;
xfience: West ta tiro Wes� rig�►t-of-wa�+ a;�s�.id E�vans Avcn�re, ihe Southcast cc>t�nec of Lot X, Blac�C
A, �nd tbe Northeask aorner of T_.ot I, �lock l, said IvXomiz�g8ide Park Addition;
l.2
'xhencc: ^cvtth tia� Sout}� �ine af said X.at 1, Biack A, aad the A1c�rth Iine of said Lat 1,
Bloc1� I, West ta the Norti�west cocner of said Lot t, 81ock I;
Thence: with rhe We�t Iine af said Block 1, Marningside �'�c A,�3di�Qm, Sou#fi to #he
Norkta rigia�-of way of eaid T&P �taiitpad;
Then.ce; with the North rightr+of �way of saici T&P Ra�ilmad, N'orthwesterly t�o tho place o�
beginning, and cont�ining som� 3,97U aores o�lar�d.
�Tota x'his eathibit prapared tmder?2 TAC $ 663.21, does not refleci thc rneulf� trf an an ti�e ground survey, and is no# to
b� nsed its convey w cstaWish inberest ia t�eal P�P�3' o�t tho�a tights and intc�est i�{�lird y+y the areaNan or
reovnfigwalian of the 6oundary o�ifio political subdivision for which it wes preparai.
F.ast Barry (�uridor 7IF
CRVV/�1DFISurttiy Urviaion
Fito No. 52656001
13
i��%�. MAP OF ���"T`��G iTSE�
�4
��. � a� E�zs�avG us�s
15
iv. OF PRC�PE�.t.TY V.ALUES
I6
iv.1V�.A�P OF PROPERTY VAL[T�S
17
8. P�UFOSED CHANGES TC) C�TRR� U�DIlvANCES AND CU�?ES
Tb�er� are cur�ently no propused ck�anges to zoning ordiaances, building code�� nor any other
�nau�cipa� ordinances rel�g to the T� tk►at wt�uld affect the at�txcxpatec� iu�p�emcntation r�f
the Plarts by the Board.
C. ES'�'i�ATTD NON�PRQJECT' CUS'�'S
Ntm-pmject eosts are r�ot ex�ecied to be ane��rred wi�tin the T1F.
Iy. IVl'ETHOD �UF RELO�rA,'�'�iG DI�kLACEA �'�RSON'S
No �erson s�aU be displ�ced as a result of implementirz,g t�e P�s.
18
IYI. THE TI�I.A►.�1''C�T� PLAN
��
ILI. T�iE FiNANC�TG PLAN
A, ECONOXI�IIC FEAS��,L�'I'Y U�` �HE ZONE
i. �ncyreased Ta� I3as�
T�e �ollow�ing ecanomic i.mpa�i analyais is based on known developm�zat plans withiia i3�e
TIF d€strict and t�e vpp�rtunities that �aci.st to capta�re ta�c in.crement du� to the low apPra�se�
value� in the a�cea
The success o� az�y '�'IF' Zone is predicated on ihe increasc un varue a� the apprsised z�al
properiY so tbat ta7c iuore�mez�t maq b$ ca�red. This t� iutxra^ement can tb.� be ua�d t,n
make imfrastructure im.pr4v�m�ez�s i�n arx e�t%rt tv pz�omote further growth. W��. that i�ti xnind,
initiaf�ng ihis TIF Zone in 2006 is important sittee privaie i�vestment �lataned �'o�r the area i�
cuzxe��t�y underway. Speci�ca�ly, the Sierra Vista residexi#xa� deve�opment pla�nned �at the
mcr�xwest cum�r of tb� intersection af Easi Berty and Ri�verside Drive can serve as a caf�.�yst
tb.at ba�h initiates t�e red�velopment of the ar�a. at�d he��s enstare thc success of �he 17F Zo�e
in the ear�y years. A.Iat�g wi.th this si�gle faurily housing Fxo,ject, numcraus �le�►elapment
�pporiunibi�s have eam� to th� �arefrcmt includiti� th� poten,�ta� deveiopu�art of thc MasAnic
Home of Te�cas School �►mpe:rty, which inclucles apprvximately 200-acros of �rime green
space wi�ti�n the coz� of the cent�ra� c�ity�.
With the designa�ian vf the G04-acre '�'�, it is a�ticipated that the area withi�n and
surro�ruding the TIF will experie�ce a substantial increase in �+alue as the project
improvem�t� au�e completed arxd the planuaed devalflpments build out. Potential
develo�me�►t is e�p�cteci ta inc�ude cammearc�al, retail, resta�nts, ez�t�rta,i�aznant, and
rasidential u�es. Tlaese new developme�ts should �ave a grea�er impa�ct on the o�►er�ll
increasc ira ta�sable real. �mAeriY wi.th�in the Zone thaz� �icall� foumd in crther areas of FQzt
Worth. A ro�mparison of la�nd values per acre in a comparable area of the G�ty of Fart Won�
�n which a�F Zane has 1�� c�reated, i�lustrates the potent�al far a cl�amatic increase in
existing Prc►Pez�ty values due to #h� de��ss+�d exis�i�ng values. The area �or the Z'IF shows
that the avexage �valu� par acre of ma1 praperty ia u�der $5Q,OQU vvhile th� average valtt� per
acxe oith� SouChsid� T.[E (gene�ly bcauaded by Interstafie Highway 30 o;t� the notth, �vans
Avenrle an the east, Atlen o� the sauth, and Foxest �'ar� an fifie wEst) whe� crea#ed in 1497
was aver $Z4U,000. �e�ause a� t� overall dcpressed exist�r�g �ralues in the area, it is
suma�sed that new i�veatment made in the area wi�l, iner�so the valu� a�' cxisting pro�erties
�t a#'as�er z•ate ib.sz� the typical rate flf inftation, wluc�: mieat�s an aveai �atet app4rtimity far
#h+e T7F Zon.e io b� successful.
It �s estiv�ate�d �t the area in th+e Zon►e will ea�perience aig�iufica�nt de�ve�a�ment dur��ng ifi.e
20-yaar pez�od in. v�►k�ich th►e �'IF Zone is in p�ace with the �aotential for Tik' �n�en�t to
exceed �30 million if al1 tacing entit�es chonse to �articipate by designaiix�g �, d0°/a of their
i�c increm�nt. Alt?aaugh prohx�a�ted �rom pa�rtticipating in the '�, ifi is aritici�ated t�.t the
Fort Waz�th �z�dependent Sclaaol T7►isfirict cauld recci�re an estim�ated $39.2 millivn i� taac
t�ve�rxue o�rar the 20-�ear �iad,
Za
ii. Tncreased �t.e�ail and Com�e�cia� Business
Based au cuzx�at land uses and pote�tial iirvestment, �he '� will develop with
approxir�ately 11Q aares of the dev�lopable area becom�i��ag ne�w or redeveloped retail az�d
camme�ial b�usiness.
iii. �rnp�oymeni Opportunities
Ir� addil�on ta the jobs created dua�i.�g c.anstruction ofthe project improv�nx�nts, �t i�s expected
f�aat the future developm�i af tbe Zcrnc ar.e,�ulting from t�Ze privats project improvement� will
gene�rate a wide variety� of additional em�loyx.o.eant appoz�h�iti�s.
2�
B. P�.UPOSED PRUJ�CTS A1�TD IMPROV�'.MEN�`S
The redevelopmet�Y �wifi;in the �ast ]3erry Renaiasance TIF �v�ill ecrosist of a combiQaiio�c uf
public improvtme�ts arad gri�vafe investmcnt$ projects. Tl�se inapmvemeuts tivill provide a
"�oundation fac develogmezrt" to et�oourage and �pport the long-tcrm publ�tc n�ds of th�
�eightxirho4d aud secture mixed�use econ�nic growth opporquuties in saufheast Foart'VV'Qzfih,
i. Ir�itial ImprovemeJnts
'Tb�e initial itnprovem� cc�ntempiated in the F,ast Berry Renaissaace 'TTF irzclud� _public
i�a�'xasiructure (e.g. water, sewer, drainage, roads, sidewall�s, efic) associated r�►itb� mi�c�d-us�
development In� add�ition, deauol�tion, environmer�ta� remec�iatic�n, a�.d a� expens�s
a�.low�ble cm�r tlae Ta� rn.c��naent Fi�anciug Act are co�ntemp[ated as needed for areas of
th.e � Zone �dentifi�ci as ripe ;�ar n�w or reder�elQpmen� 1hc improvc�ne�s u�dertaken by
tfie TIk' will be associated wi� the projects listed below:
East Bc�rry Co�nridor im�z�ov�te�zts -- Street, t�ffic, uti�ity, drainage and oth�r pn�lic
infrast�ucture praject�s a� Fast Berry Stree� &a�m h�-35 to Fiighway 287
Public X�fr�structure such as water, sewer, draina�g�„ rvads, sici�walks, etc. associaYed
with i�.e fallowirig de��lopmenti pro�e,�cts
o Siena Viata Phase �-� Cornmercial anci Retaii Develop�ao�.ks �la��d
�or the northeasE coac�ea� of ltit�erside and Berry
o Masc�nic Home of T�as Schoal pmperty — De�velopme�nt of t�h�s site
once soid �i a�rivate investrnen.t group, wk�ich is ��ected in 2006.
a Siezra 'V'i�sY.� Phase �.i — Comnnercial and Zte#ail be�relopment planned
on the southwcst carner of Riv�side and Be�xy
$et�ry Stt� Gateway Enh�nceme�s -�treet, tr�c, utilitY, drainegc and ot3�cr pub��c
infi astructture �rojects at dze gateways of the '�'iF si TH 35 and at �ghw�y 287
• Adt�aivai�sb�ative F�pe�ns�s
ii. Futura Impror►emeYrts
The�te are no fitt�re projecis �a�:ttemplaY�d dur�uag the bertn of the TIF. I�owever, the Ciiy
Counci.I xese�vcs ti�e x�ght to ctins�der amaaz�dments to the pxoj�ct plan ;iF subs�que�t projec�v
are identified by the TI� Soarc� as app�ropriate and eligib�e �ax tax incxez�ez�t ftu�.dix�g.
�
C. �'.A.7L YNCRE�ENT �t.EVEI�E PRQJ�CT�ONS
i. Bond�d Indebtetlness
No t�onde� iudebtedness is expected to be incwnred �cvit� respec� ta any of ti�e prajeot
imp�roveanents.
ii. Pz�o,�ec�ion of R.evenues
This s�cti.az� aufi.�x�es th� estimated Zone ta�c inc�nent The Zome xax iu�c;r��aae�t �+vill
dep�nd on marry �'ackars, incXud'u�g (a) th� base value t�� zeal pt�PertY in the Zaz�e subject to
AxaPe�3' � ib) �pi�u�ed apprassed value; (c) a�u�.ua� � af the Zone's ta�cable xeal
propezt�' iwhich largely d�pends on pr.iwate growth withitt 13�e Zone), (d) Parixcipa�ion by t�
unuits; (e) ta�z �ates> (fj collecticra rat�es; and (g) the term of tbe Zane. Eac�, of these �'aciors i.s
ciisc►assed in turn.
(a) Taxable Annzaised. Va�ue iar 2flp6 [tlie Base Valua�. Table 1 sets farth tb.e
�tal taxable apptaised va�ue o�properiy in the Zone �estimated to be $3�0,] 54,93p)� which is
�nticip�ttd �o be the Zoz�'s bese value.
(b) Ca�lured Appraised Value. Table 1 sexs forth the estamatec� totai appraised
value uf property in the Zone o�ver the 1�fe of the TI� (estimated to l� appzo�innately
$212,4T4,746 itt yeat 2p2b�.
(a) E�peated Axaz�u� C�arawth o� the Zone's Taxable Real Pro�. The esti�nxated
c�ptxu�ed a�O�raised vatue {thue z�fleciing esti.maf,�d grnvuth. o�real property ta�able va�.ues) o�
the Zone %r eacft year of its existence and the estimated tax xncz�menrt to be g�enerated
annualty in tatal and fram each i�axing er�ity is puilined o�: Table 1.
(d) P�rti.oipation. bv T�x Units. A1thv�h e�ch �ng entity has r�ot agreed �to a
specific le�+el �o�' participation, the �nancial projec#ions sei ��ith iu'#fie Plaa� a,t�ticipates that
tixe City o�Fozk WorCh, Tarrant County, tha Tarrau�t Go�mty H�spitat Disirict; Tarraxzt Co�ty
Cal�egc, as�d Tatrant ��iaz�al Water I�Ast�ct will pgrticipate iz� �he Zvne, by co�ntrib�ting
one hundred pe�rceni {104°/a} of ii�.eir tax incxxement with resp�t to the �one.
(e� �.�oiect�i Tax �cs, Propert�y t�c rat�s �re assumed to remai�z t.onstan�.
i� �'ray,Gcted C�ilec�to�n. tes. T1ae Plans ass�moes a one hun►dz�d �ercerxt (100%)
callec�iau rate.
(g) Ta�n o� the Zone. T'he Eer�m af #�.e Zone will be 21 �eazs, e�piri�g on
�.7ece�nher 3 X, 2027, be�int�ing wit� that Zo�ae ta�c in�re�e�t generated by the 20U7 f�
aPpraisal a�nd ending wit� the� Z,one ta�z increment gen�ra�d by the 2026 tax a�prais�.
23
i�i. Estima� Faym�rrt nf Project Cosis
Ba�ed oza the assumptions aa►d estimates set forth in the infozxziation above, it is expected that
th� Zone ta�c Increment will be sufficient ta pa�► i�n fii11 a11 project costs (including i�zterest),
Fl�
�v� su�r�r.��.� o� a��xa,�+cz� casTs
A� �t�v����
ZS
XV. SiT1V�lt�'ARY OF PxtUJrECT CUSTS AND FINAI�TCIl�iG
A. Anticipa#ed'1."i� ProjeGts
� Fast Berry Corridor Im�rovements*
• I'ublia Tzz�'zast�ct�nre a��s�ci,a�cd watln
o Siema Vista Phase RetaiUCommercial (Northeast Corne�)�
o I1�asanic Hame of T��as �'rope�r�ty Redeve(apment*
0 5iema Vista Phase �etail/Commercial (Southwest Corner}*
i
• Berry Stteet Gateway Enhancements'�
• Administrati�� E�e�ses
TOTAL PRO�C'� CO�TS
B. ,A�nticipated TIF R.evenues
• City a�'Fort Worth
� Taaant County
• Tarra.at County Has�x#�l Di�t�ict
I
• Tazrant Cntynty Cot�ege i�istrict
� Tarrarzt Regiona% Wa� l�istrict
xox�a�. �v��u�
� 7,540,004
� a,�oQ,000
$ s,2oo,00a
$ i,QQQ,000
� 1.,700,1340
S SUD 000
$2D,1QO,OtHI
$19,2�0,�57
$ 6,471,944
$ 5,590,7�8
$ 3,31.4,31.0
4 5 005
��5,108,+655
* k�raject costs assw�xe interest associa#ed with ceimburse�nnez�t #'or publ�c improvements.
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RESOLUTION
PARTICIPATION OF TARRANT COUNTY HOSPITAL DISTRICT
IN CITY OF FORT WORTH TAX INCREMENT FINANCING
REINVESTMENT ZONE #12 - EAST BERRY RENAISSANCE 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 undertalcen without such
incentive; and
WHEREAS, the Fort Worth City Council approved Ordinance No. 17061-07-2006, dated
July 18, 2006, establishing Tax Increment Financing Reinvestment Zone Number Twelve 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 residential, commercial and retail development by
providing for infrastructure improvements through the use of tax increment financing; and
WHEREAS, the Fort Woi�th 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 Coui�t regarding the reinvestment zone;
and
WHEREAS, the City of Fort Worth City Council has adopted a Project Plan and Financing
Plan which was approved and submitted by the Reinvestment Zone Board of Directors on April 1 l,
2007; and
WHEREAS, the Tarrant County Commissioners Court recognizes that the participation 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 participation
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 participation in the Fort
Worth Tax Increment Financing Reinvestment Zone #12 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, 2027, or until Four Million Four Hundred Seventy-Two Thousand, Five Hundred and
Ninety Dollars ($4,472,590) in cumulative Hospital District increment deposits have been 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. I� ��?��
B. Glen Whitley, Count dge
t�
�
�,
� ��
� , � -, ��� '�- � �
Roy C. roolcs Andy H. N uyen `
Commissioner, Precinct 1 Commissioner, Precinct 2
aiy Ficices
Commissioner, Precinct 3
ATTEST:
�T� '
County Clerlc
.D. Johnso`n
Commissioner, Precinct 4
� � � � , I I � • , i
�
� '
Asst. I%5i,s�frict Attorney
M&C Review
� ��� � z x ���
�� ��� "�� ; �°� �
Page 1 of 2
Official site of the City of 1=ort Waitii, Texas
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COUNCIL ACTION: Approved on 7/18/2006 - Ordinance No. 17061-07-2006
�4w.� ,� ,v r ��.. .. _� _.�. �a .��. o .� G��r., ti. � xr ,.r:�. �� ��, � �, ��_ . .. �.��t ,. � ,, z�.� , h ����„ . � � .� , �w�� �;,�
DATE:
•�
7/18/2006 REFERENCE NO.: G-15299 LOG NAME:
G TYPE: NON-CONSENT PUBLIC
HEARING:
17TIF12EBERRY
YES
SUBJECT: Adopt Ordinance Designating Tax Increment Reinvestment Zone Number 12, City of Fort
Worth, Texas (East Berry Renaissance TIF)
, . ����� ��. �r�� �, . ��. � � �, z _.� ��..�GF ,.� .., . � ��.��. .a� �� a� ...m���_��r�m:� .��.:w,. o._ ,.� ��ri�, M x�,, �� � �_��.�,��
RECOMMENDATION:
It is recommended that the City Council:
1. Hold a public hearing concerning the designation of Tax Increment Reinvestment Zone Number
12, City of Fort Worth, Texas for tax increment financing purposes, and
2. Adopt the attached ordinance which designates Tax Increment Reinvestment Zone Number 12,
City of Fort Worth, Texas pursuant to Tax Increment Financing Act, Texas Tax Code, Chapter 311
(the Act) and contains specific findings of fact in support thereof.
DISCUSSION:
The proposed Tax Increment Reinvestment Zone Number 12, City of Fort Worth, Texas being
referred to as the East Berry Renaissance TIF (the TIF), is located on approximately 604 acres of
land in southeast Fort Worth in Council District 8. The property is bounded by Glen Garden Drive on
the northernmost boundary, State Highway 287 on the easternmost boundary, Riverside Drive east of
Ripy Street on the southernmost boundary and Interstate Highway 35 frontage road on the
westernmost boundary. The exact boundaries of the property are described in Exhibit A of the
attached ordinance. This area includes major intersections such as Riverside and Berry and Berry
and Mitchell, and it also includes the Masonic Home of Texas School property. The TIF will expire on
December 31, 2027 or the earlier date as of which all project costs have been paid.
The TIF is intended to help fund public infrastructure improvements along the East Berry Street
Corridor, including water, sewer, drainage, roads and sidewalks associated with mixed-use
development. In addition,
demolition, environmental remediation and all expenses allowable under the Tax Increment Financing
Act are contemplated as needed for area of the TIF Zone identified as ripe for new or
redevelopment. The ordinance provides that the City will contribute 100% 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.
http://apps.cfwnet.org/council�acket/mc review.asp?ID=6123&councildate=7/18/2006 7/2/2013
M&C Review
The proposed area meets the criteria for designation as a reinvestment zone pursuant to the Act
because, as more specifically set forth in the finds of fact contained in the findings of fact in the
attached ordinance, the area is underdeveloped, 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 substantialiy impairing and arresting and contains the sound growth of the
City.
This property is located in COUNCIL DISTRICT 8.
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that this action will have no material effect on City funds.
TO Fund/Account/Centers
Submitted for City Manager's Office b�
Oriqinating Department Head:
Additional Information Contact:
ATTACHMENTS
Aerial Boundary Map TIF.pdf
East Berry TIF Ordinance v2.doc
FROM Fund/Account/Centers
Dale Fisseler (6140)
Tom Higgins (6192)
Ossana O. Hermosillo (8618)
Peter Vaky (7601)
Page 2 of 2
http://apps.cfwnet.org/council�acicet/mc_review. asp?ID=6123 &councildate=7/18/2006 7/2/2013