HomeMy WebLinkAboutContract 44608 CITY SEC ,
CONTRACT NO. qq
AGREEMENT TO PARTICIPATE IN
TAX INCREMENT REINVESTMENT ZONE NUMBER TWIELVE,
CITY OF FORT WORTH,TEXAS
(EAST BERRY RENAISSANCE Tjfl�
This AGREEMENT TO PARTICIPATE IN TAX INCREMENT
STME ZONE NUMBER TWELVE, CITY OF FORT WORTH,
TEXAS ("Agreement"), is entered 'into by and between the CITY OF FORT WORTH�
TEXAS, (the "CitY") and TAR RANT COUNTY HOSPITAL DISTRICT the
"Hospital Distitict").
The City and the Hospital District hereby agree that the follow*Ing statements are
true and correct and constitute the basis upon which the City and the Hospital District
have entered "into this Agreement.-
As On July 18, 2006, the City Council of the City ("City Council") adopted
City Ordinance Nol. 17061- -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 informally known as the "East Berry
Renaissan"TIF". Ordinance No. 17061-07-2006 is hereby macorporatedby reference for
all purposes,and is attached hereto as Exhibit "All.
B, Designation of the IF District will cause development of property M' and
around the TTF District to occur that would not occur otherwise in the foreseeable fut=.
As a result of designation of the TIF ,his trict, it is intended that public infrastruQturc for
East Berry and for private development projects will be funded. It is anticipated that
other complementary development M* the TIF Distfict will foIllow. This overall
development will result in inc=sed tax revenues and other public benefits for both the
City and the Hospital District.
CIO'.. Pursuant to Section 311.013(f) of the Texas, Tax Code, the Hospital
District is not required to pay any tax M- crement M' to the tax increment iund of the TIF
District unless it enters, 'into an agreement to do so with the City., The Hospital District
wishes to enter into such an agreement with the City.
NOW, THEREFORE,for and in consideration of the conditions set forth herein,,
the sufficiency of wtuch is hereby acknowledged, the City and the Hospital District do
hereby contractI, covenant and agree as follows.
11 INCORPORATION OF RECITALS.
The parties hereby agree that the recitals set forth above are true and correct and
form the bass upon which they have entered into this Agm=ent,
I OFFICIAL RECORD
Tarrant County Hospital,District Participation Agroment CITY SECRETAff
re:Berry Street TIF "a WORTHi TX RECEIVED -I'Jt 2013
Page I
DEFMITIONS.
In addition to any terms defined in the body of this Agreement,, the following
terms shall have the definitions ascribed to them as follows:
Act means the Tax Increment Financing Act, as amended and as codified as
"MMMEMOR"i
Chapter 311 of the Texas Tax Code.
Ca turgid Aippralsed Value 'in a given ym means the total pp "s wdue of all
real property taxable by the Hospital. District and located in the TIF District for that year
Less the Tax Increment Base.
rroject Plan means the project plan fc r the development and/or redevelopment of'
the TIF District, as adopted by the TIF 13oard and approved by the City Council of the
City, attar hed'hereto as Exhibit"B"),
TIF Berard means the goverm*ng board of directors of the TIF District apponited
in accordance with Section 311 1.0 of the Acct and, Section 3 of City Ordinance No.
1 7061 1-07-20016., The Hospital District shall appoint and maintain a t e ast one(1)member
on the TIF Board, and may appoint non-voting ex-officio members or staff members who
shall also be notified of all T'IF Board meetings and actions.
TIF District,means,the certain ra properties and boundafies as descri"bed m City
Ordinance No. 17061-07:-2006, attached hereto as Exhibit"A".
WXMW~
Tax Increment In a grgiven year means the amount of property taxes levied and
collected by the Hospital District for that y= on the Captured Appraised Value of real
property taxable by the Hospital District and,located 'in the TIF District,
Tax Increment Base means the to appraised value as of January 1, 2006 of all
real property taxable by the Hospital District and located m* the TIF District.
Tax Increment Fund means that fund created by the City pursuant, to Section
311.0114 of the Act, and Section 61 of City Ordinance No., 1 706 1-07-200 which will be
maintained by the City, into which all revenues of the TIF District Will be deposited,
including (1'.) deposits of Tax Increment by the City and by the taxing units with
jurisdiction over real property in the TIF District, including the Hospital District, and(ii.)
all accrued M" terest earned on the cash balance of the,fund.
TIF Ordinance means City Ordinance No. 17061-017-2006, attached hereto as
Exhibit "A"'.
Tarrdnt County Hospital Distict Participation Agrcement
re-Beny Street TIF
W
Page 2
310 DEPOSIT OF TAX INCREMENT.
Pursuant to a Resolution duly adopted by the goveming body of Tan-ant County
on 'behalf of the Hospital District, which Resolution 'i's attached hereto as Exhibit "C"
and is hereby made a part of this Agreement for all purposes, and specifically subject to
Section 4 of this Agreement, the Hospital Distfict hereby agrees, to deposit each year
during the remanung term of the TIF District, beginning With the 2,012 tax year,, eighty
percent (8011/o) of the!Hospital District's Tax Incrernent into the Tax Increment Fund up to
A 11 10
a maminum, curnuiauve contribution of For Million Four! Hundred Seventy-Two
Thousand, Five Hundred and Ninety Dollars ($4,472,590) (the "Maxi spital
Din triet Contribution"). Such dq)os1`ts shall be made in accordance with Hospital
District's and the City's standard administrative procedures relative to all tax m* crement
rmvestment zones administered by the City,but only following receipt of a bill from the
City that outlines the City's calculation of the amount of the deposit that is ed for
that year.
4. LEWTATIONS ON TAX I NT DEPOSITS AND US�E OF FUNDS.
This Agr=nent is bas,ed on the following conditions, and the City agrees and
acknowledges the Hospital District's right to enforce the conditions contained hemin by
inj,unction or any other lawful means in the event one or more of such conditions are not
satisfied.
4.L Amendment to TIF OrWnance.
The TIF Ordinance designates the boundaries, the clip"ble real prop `es
for the calculation of Tax Increment for the TIF District and the specific
participation level for the City. All amendments to the TFF1 Ordu*lance, shall be
approved by the IF Board prior to approval by tile City Council. If the City
Council approves an, arnen&nent to the T'IF Ordinance, different from the
amendment approved by the TIF Board, the Hospital District shall suspend
payment into the TIF Fund as described M' Section 3 until the amendment is
approved b:y the governi"ng,body of Tarrant County.
4.2. Certain TIF District Project Costs Excluded*
The Tax Increment deposited into the Tax Increment Fund,by the Hospital
District shall be used to pay a pro rata portion of a maximum of$201,100,000
2006 net present value project costs for infrastructure ftnprovements, or other
public n* n proves ents as set forth and identified "in the Project Plan attached hereto
as Exhibit "B" (the "Maximum Project Costs "). All 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 wnendedthe Hospital District shall suspend payment into the TIF Fund as,
a
described in Section 3 until the amendment is approved, by the golvc=g body of
Tarrant County as an amen&uent to this Agreement,
Tarrant County Hospital District Panicip,Won Agireement
re:l3crry Street TJF
Page 3
43. TIF District ExOns ion.
As defined, the TIF District shall *include real properties located within the
boundaries, as describedin the T'IF Ordinance. If the TIC District 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 govern' body of Tarrant
County as an amendment to this Agreement. Additionally, the Tax Increment
deposited 'into the Tax Increment Fund by the Hospital District may not used
for any permissible project costs in any portion of the expanded area of the TIC"
District unless approved b the governing body of Tarrant County as an
Y
amendment to thi's Agreement.
51 TERM.
This Agreement shall take effect on the date as of which both parfics bave,
executed it and shall expire upon expiration or termm* atl*on of the TIC" District, which
currently i's 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 "e on
which all project costs of the TI F District, includm* g, but not limited to, tax, increment
bonds and, interest, on those bonds, have been paid or otherwise satisfied in full, or (iii)
the date on which the Maximum Hospital District Contribution is reached, or(iv) the to
on which the Hospital District's pro-rata portion of the Maximum, Project Costs,
including,but not limit"W"to,i tax increment bonds and interest on those,bonds, have been
paid or otherwise satisfied in full.
6. T MD ACCOUNTING.,
No, later than July I of each year follovn*ng execution of'this Agreement, the City shall
p "dc the Hosp`tal D"stTi et " I
ru,Vi 1 1 with an annual accounting of the funds depos"ted to and
disbursed from the Tax Increment Fund, 'including accrued interest. After all project
costs of the Tom'District have been paid or at the time of the expiration of this Agrement,
any funds remalmng in the Tax Increment Fund followig the final annual accounting by
4 the, a
the City shall be paid to those taxing units participating in t-fie,TI F District in propornon,
to each taxing unit's share of the total amount of Tax Increment deposited into the Tax
Increment Fund.
7e RESPONSIBILITY FOR ACTS.
The City and the Hospital, District shall each be responsible for the is negligent
I
0 Wnt and
acts of their officers, agents, employees or separate contractors. In the event of joi
concurrent negligence of both the City and the Hospital District, responsibility, if any,
shall be apportioned comparatively with the laws of the State of Texas, with the
understandig that neither party waives any governmental powers or immunities or any
other defenses avaidable to each M' dividually.
,4 a ..
Tarmt County Hospital District Partici�panon Ag rement
re:Berry Sbvet TIF
Page 4
N
All ten notices for or required by this Agreement shall he addressed to the
el
followm" g, or sucb other writing,by i mail, stage,prepaid,or by,hand delivery
city* Taffant County.
City of Fort Worth Tan-ant County
City Manager County A *in istrator
000 Throckmorton 100 E.Weathaford, Suite
Fort Worth,TX 76102, Fort Word TX 76021
Tarrant County HospiW District,
JPS Health Network
Attn: President/CEO
1500 S. M Street
Fort Worl TX 7
to
with copies
the City Attorney
s' g and Economic Development
Director at the same address
90 NO WAIVER,
The faflure of either party to insist n the p f to or provision
of this t or to exercise y n,g,nt granted hereunder shall not constitute a.waiver
of that party's right to insist upon appropriate performance or to assert any such right on
y future occasion.
101. C
If any aeon, whether real or asserted, at law or M equity, Wises on the basis of'
any provision of this Agreement', venue for such action shall lie n state courts located in
Tarrant County, texas or the Unl`ted States District Court for the Northern District
Texas—Fort Worth Division. This Agreement shat he construed in accordance with the
laws of the State of Texas,
ill, NO THYRD PARTY RIGHTS.,
The provisions and conditions of this Agreement are solely for the bereft of the City and
the Hospital District and are not intended to create any�ghts, contractual or otherwise,,to
y other person or entity.,
Tram Counter Hospital District Participation Agretnu
r Street nF
Page 5
FORCE MAJEURE,
The parties shall exercise every reasonable effort to inect their respective
obligations as set forth in this Agr=nent, but shall not he held fable for my delay in or
omIssion of p ce due too majeure or other causes beyond their reasonable
control, including, but not limited to, compliance with any govemment law, ordinance or
regulation, acts of God, acts ofomission, fires,, strikes, lockouts., national disasters,,, wars,
nets, material or, or restrictions, transportation problems, and/or any other cause
beyond the reasonable control of either party.
13. WITRPRETATION.
In the event, of any dispute over, the meaning, or appileation of any provision of
this Agreemen� this Agreement shall be M* terpreted fairly and reasonably, and nel'ther
more strongjy for or against any party,regardless of the actual drafter of this Agreement.
14, CAP77ONS.
Captions and headings used in this Agreement are for reference purposes only and
shall not be deemed a part of this Agreement,
15. ENTIRETY OF AGREEMENT.
This Agreement, "including any exhibits, attached hereto and any documents m" corporated
herein by reference, contains the entire understanding and agreement between the City
and the Hospital District as to the matters contained hem"n. Any prior or
cent mporancous oral or)&M`tten agreement 'I's hereby declared null and void to the extent
in conflict with any provision of this Agreement. Notwithstanding anything to the
contrary hercin, this Agreement shall not be amended unless executed in Ming by both
parties and approved by the City Council of the City *in an open meeting held
accordance with Chapter 551 of the Texas Goverment Code.
16. APPROVAL AND EXECUTION.
In accordance with Section 311.013(f-l) of the Texas Tax Code, the Tarrant
County Comnussioners Court may act on and enter M' to this Agreement on behalf of the
Hospital District...
17. COUNTERPARTS,
This Agreement may be execuud in multiple counterparts, each of which shat he
c
nsi'dered ors n'gm* al,but o
all f which s hall constitute one!ins trum en t.
o
Taffant County Hospital District Parficipation Agreanent
TC:Berry Sbvd TIF
Page 6
EXECUTED as of'the later date below:
,C'ITY OF'FORT'WORTH,TEXASI, TARRANT COUNTY
on behalf of the
TARRANT COUNTY HOSPITAL
a
DISTRICT,
Byo- By*
ex_j�A 1 1
!'�XUTWA 1--tialli tp,4-tdau ('.01s:h B. Glen Whitley
Assistant Cy Manager County Judge
Date-, Date.- A hl/j
7 7P�
-
ATTEST ATTEST-
r
\�,4 e
By-&, A ad 13
t J&
V
city S i/Ff co,$4 Deputy,County C*lWk
ary 02 00 0
Oj 6 ox
0 01
APPROVED AS TO FORM ARiPROVED A FOR
B y: By:
A is s S-is District,Attorney
ss' tant ity,Attomey
IWO%
V
M&C: Q� :�Icg 101,10 COURT ORDER NO4.,
By taw, the District A tiorney's Office may only advise or approve contracts or legal docvmen on hehat(of its;
clients. It may not advisel or approve a can"cl or legal documew on behay*of otheirparliew., Our view of this
documenitwwcon&jlctedsolely ectiveofour,clie.ni r approvalof this(locument was,offere4d
solelyfor the benefit of our client. Other-paptes should not rely on this approval and"siould'seek reWew,and"'appro Val
by their own rmpledive attorney(y).
OFFICIAL RiECO'RD
r ZETA
Tarrmt County Hospital District Participation Agreement 'IlTy, SECI RY
re:Berry Stred TIF Fre,WORTH,90C
Page 7
...........
f I * p I I I
r .wr
GROGRAPMC AREA IN TIM CMY OF FORT WORTH AS"TAX
IONCREMM RXVqVMrNM ZONE NUMBER TWILM
AM TERMNATION DATM FOR THE ZONE; =rABLISHMG
A, R I. I .. 1. ZOM* AND
COISMAMMG
WIMMEA%the,City rr aM developmw of IwW in&a
eert& contSmus geogmpbic =a M" the My which is nwre sp*Afir4ly described M*
All (the n gh the creafion of reiu 'tm
at ChVW 311 of the Tom T "Code and
about on or 12,2006 nadw to thc
governing body o feach bxk%unit dw levies: property toxes in the proposed Zone of
(1) the Zonvi a dwerhydon o `the b�oundazies of the Zone,
(%)the Q s aftfive plms for&&velopmt of 0Y) am eadmatt of
9=9211 impact Of the zone on PmPerty values r"
WIBMW,M awor(ja=wn the Orement mpoud by Section 311-003(e)
of*e CMe to City provided mzh wrWm ncdco nx=than sixty ) or to the
date of ft public conducted,pmunt to Secdon 311.003(c)of the Code;and
MM"P the City ho pvpmd aw
of to the goveming body of ewh
Ink taxes on real propetty in the Zone., as Tequired. on
311,003 of the Code(ft"Prellmimay P
O
m -----
in acmdanm wi& Se4on 311-003(f) o Coda Jum 13,
2 City made a, a Lon to the,gaveming of ea& county
and school of Wks mW proper Wm M the pwposed Zone6 as speed to M#
v4ift by Fod Worth d ch CM
description WOFA (i)a Ae of'tho Zones (it) City
tenwtive ph=for dsvelopvumt of e M of fliz gwwW, of
on and W revenues,
WHET o July , City C► aci held W; e rqmding
the araWon of the Zone and its benefits to tho City and to property M- the Zone and
a remnable i ity for(i)aU intmmW persons to speak for or agejx*the
onza0a Of the Zone, ,im bound=-es or the conoept of tax, hwrement Emancing, and ffi)
ownm of Proted badhmion of the
Zone,as reqvdre by Sons 3'1 ,003(c m. d)of� �and
S, wdw of the public hearing wu published in a wwspaper of
g City on July 10t 2006, which, sWsflos the reqm'rement of
Seed= 311* 3 ) of C publicaflon of dm notice oc= not
wvmth&Y I*fore the daft of the public
NOWT rREFOM BE IT ORDAMED 13Y CITY CO:UNCEL OF
THE CITY OF FORT WOE
Pca
er 2
W
r
i
it a n of the
Zone wd dta oondwft a PubHo bearing Lvbm, ng the areatim of the Zone Ift
benefits to the City and to 3roperty in dw Zone and dbnling a mwnable
for (i) aU, 1"nteraged persom to speak for or against the aestion of
boundaries or do oonoW of tax inument and(H)ow=s of red propaty In
t Of ftir in dw Zone,the City Council
hereby makes the foawin of fhet
1401W The sWmneonts and facts set forth Ire the recitaIs of this OnUnarm are,true wW
omrevt Ted the City W mat to, notioe and pzceftoal requhments
establidwd by ft Code for on of a relinveo*eW zone under*a Code.
The Zxm consists of appror6mately 604 &om of azd the mva within
IA The w a► n
by die Zo r his bem M a genew state of eeono=o
post nLyfive YOMW
IA* The Zolne conWm a sub tantlal nwnber of hseemdu d and detmiorating
1he b n =in wed of demolition. Cauk propeWa IocaW
.
1.5* ne Zone lacks essentW iftowture to mtein viable &vrlopman%, ineluding
but not r � a aroads and, v , wwer, v
Pop 3
rdI T
MY Of Fort WM,Tau
IA Bued on dx ftots sd forffi In Seadm 13, 1.4 and 1.5 hemot as wall u on Q
r 0 to or City Council
Odw the ,w W n Zone and be&ma M the vicidty of Zone's the City Council
hereby finds that dmlopmevl of 6a Zone,will not occur solely ftou&privift
b2v M the kommable .,
1.7. Taking all fivM into conAderaflaa,6e am wM&the Zow y
and anwft the ziound growth of te City and omtitftes an wonomic,liability
menwe to the pubes balth and sdety bmaw o 0a substantial of
subsUndard ra e ioral structures; ( the M
hmdoquate sidnm& tuld shva layo CHI) faulty lot bout in relatim to ""
adoqmcy,aomsibil,ity and mdWnem,(N) wd unsah,couffitim; (Y)
the ioro . off' of= lmpmmeutT, . ,
life a ca . T
Zow meet the mitezia ibr dedpadon of a reinvestment
requuvm Ibb of Soction 3 1 1,005(a)(1)of ft Code.,
13, No o less of thic in Ift, Zwe is used
mm.stly for rwideuW pmpww,w spe ff fan 31 .006 of the Co
1,9# Aoomdiag to ft most of dm City,the totd qpnised VahW Of
all fimble reEd property M* ft&=wd In exbft reinveaftowt=es M' le Chy
does not exceed Me=pemwt 59/9)of the total apprabed vabae of le red
P
Ordftmct In Number
v TOM
1-10. 5 of tal apprabied
valuo of reg propaty twbk by any winity or wobool distioL
on
DESiGNATION OF NEW ZONL
"boa and dapicW, Wached hmvft as Exhfl*-VfAqII and made a
of s a reinvesbnW zone pumiant, M
ucor&=with Ihe Code. s rafnvestnient er s
Nmba Tvmlv�City of Foit W T
Swdou 3..
ZONE BOARD OF D
That a of it m for the Zxmo (*Board") is hereby create&
1 oDnsist of eleven,(11)mmbem who e for tmm of two 2)yow each Of
flm eleven 1)w=bers, urAt offia than ffie City that kvW twites on real
in the Zone mq,butis M not reqWiled to, qpoint (1)
other Afta, each bming unit desipwasM 9W City dffiCr� +L
member that the hmiug=ft es to,appoint or the fad flit the UaWg=f wishes to
right to q.Voint a mmba,the City Comcil ap" JL
mcmbem am nemsary to MI ft lemalnmg posidm on the Bomd Such
mewb=may
be members of "'
POP 5
OmSmca De4paft 71ut Inareawn Unvestmm Numb Twehle,
MY C'pod Work Taw
Secdou
'MMOFZONRIM
TIM the zom effid y upon the adopflan of this Ordbanix
and terminme on tbo eer of b 31, 2027 or an eadier dale
&dpzted by at Un e of "ve'dke of this Ordinwxz (H)
date on whkfb pToject oDaU,tax ., d on Rime bm& have
bow paid or odowise mWed k mil.
secoon 5.
DFI AT N OF TAX INCREMEW BASIL
That the tax inarement base for the Zone,as defloed by Section 11.012c of the
Code, stWI be the toW appraised aU real Mpaty in the. &ne ftx6le by a
twdag 't as of January 2006,whkh ts the ywr in wbi
reinvestment zom
Seedou 6.
TAX .
I F�wdl) hereby estabHsWL
Ile TIF m
Fund may be divided mto addition accounts and sub-accounts audwfized by
rew1ution or h City Council. TU TIF Fund sball consast of 0
p=entW of the tax inmment as definod by Sermon 311.012(a)of tbo Code,Out ewh
*dng unit ch levies r"I in the Zone,o elected
I�
dedicate to .p=u2&to an ap==d wi ffie City w&miz&d by
P*p6
Tax Inamtat Rdwa ` ,m ZowNum1w v%
OCr Ofport
3 11*0130 offt Code.,p1m(H)the City ofone huvdmd percent(100%)of
the W"" 311.0 of*e Code, mjbjc*t to any
biaft qpment em=ated at y fto by the City W pledges On 3MOI Of legPXY
available City WvAdicm i � whole or I part, an paymml to or,
receipt by ffie City `' oy portion of
`mganudwA in an amount at the depository of tie C4 md &W1 be, oemrtd in the
"bW by law for Tex=cities. Revenues in preson
e
m MIM VAthSecdon,311,014ofteCode.
Section 7
Sections 311.008 311.013 of the Code, the City Mamkga
and City Attomy wt her6y audmized to md&Hwr,for and on behaff of the
City,t izament eements vn-th ta)dng mft that I V red pro petty Ums m the zones
EIL I
That ff my pordon,secO o_paA of a smdon of tiis Onflnaom U substquendy
dlwlmd id or void for any remon by a court of omnpeftt j
LW
soctions or pails
M
CUY of:F Work TOm
The Uacft to be 4=ipded as Tax Inament Reinvedmt Zone Number Twelm,City
of pod wortI4 Te= for tainfill"I't fil
wompanybg map md am mom pardoulady damibed by the following mates and
boumdsv
Be4 a parceJ of e J.Me Strvey, 669,&e 0.limtzog
S=oy,, 697,'tz L Xmiba 859,Om S.P. .
943 ,Abstraot wbe r 949,
the RIC Ra=y Survey,Abshut'Number 1347.1%e A.-Sdmn Survey,Abstma
terrdl
Num k 14 .3, A.� N 1499,, 13.8.
Survoy,Abstrad Number 1 527,iftuftd in the x Fort,Worth,Tarrant County and
being niom paficulady dowibed by motes and boun&a follows,
dw Nom A&-ofvzy of the T&P MI
� xi&-of-vay off s ` � � y" .N�to" " �
Southwest cornor of Lot 16,Dobbins Subdivision;
1 10
THENCK: with the South Due of Wd Dobbins Subdivwon,&a to the Souffimst
oomer of Lot 9 i the West rWd�f-way of Rv
THENCE: South with&D Wost d&-of-way of said Evans Av=x to tbe projected
intaux6on of le South Jim Block 3,Mod l O m e,Addition with
i Wed riotrof-wa3r.,
with e South line of Block 3 to and along to Sores line of
Blo&2.2 MornkfA&Termm AddWon,to the&A ri&-of--%%y of
*Av w,
'IPMCF wi&ft Baa Hof-wW of said Wi n ppi Avg Nom to
ntersecdon.of sWd East ng1t- f-way and 6a Soluth right-of-way of Glen
GardwDxive-
THENCE with the South 0 -way of"d Glen Gadim D&e to to
So*&^-terly & -way of Old�finsfiield Road,,
THENCE: with the SoWmftimly f-way of "d Old Mansfield
w 9 to the of Southwesterly risM
Old Mansfield Road and,the Norffiweatmly ri&-of-vmy of B
N
My ofFod
Te N M whb the 14 l Nmffi right-of-way of odd S
Soave ly d fvvay of Vau&
w
4
Souibmtedy wM do Sovdmstaiy fl&-of-wsy of
Bculavard�and 8bWm9t=iy lo die Wkneetion of=*d y
n o-way of Vaugbn Stvd and the Nor Poway of
Widbita
4- with the Northwwrtmiy right-of-way Soudrmstarly
and Sow&to die SouffiepA comer of1he MasWc Homo SchDol Addition;
� with the SQuth line of %uwnic Homo Scbc>ol A&IitioA West to ils
goulhwwt omum and the FAstmly 4bt-of-way,of Mithell Boulemod;
a Ira
CE11 wan the Wwterly line ofsaid Masonlo Home of
PhvWly ri&-of-way of said Mitahell Doulevard,Novhwaftrly d
of&a East n*&-of-way of d UatdxU
Boulevard and the So uth ri&-of-way of mid East Dwy S
NoTffiwwt coma of eS •
South f y of East Beny Strea�,Waft
and Souk west to thel"atmectioa of tk Soufludy 6ght-wof-vay of FAA
the y f- y of Old Masfield
tbe,Sot&msterly 6&-of.-way of said Of d d Ro4,
'FlIENCE0,
Souduse to do Northout cm=of Bloom 4,0D,Wyuu A to%
THMCKV, West,No Southmd � of said Block
NoMefly ftht-ofway of HrWrdWe Road;
M N =I'd
North ri&-of-way of BdmWo Ro4 West to the Souffieaft
of Block IS,Rn Mls Addllkm;
N _ wiffi to&wt ffix of said Block 18,N its Northeaa oww,
TEINNUt. with tie North lbit of Wd Bloick I k West to its Nior*w comer;
THENCE: vAth ft WeeWdy 11m of mid Mock I&,,SouthvmsWy to to Southwest
of said Block I&and gm Noxihw%%dy rigbb-ofs-way of said
Nbilbwegerly - Icy of i t
Soufhwestmiy to the East oormr of Block 17,Rolling M Addition,
ft Dcs Tax t Rdnvabnau Zwe ',
MY Of Pat W
of mid MA 17,NorthwwWy to its North
most N
HENCE: Nom and Northwesterly Ibr,of said 7,Wag and
eor=of a 2.54 am taot of land oi#of the S-P.Loving Survey,Abgb-4a
Pre6ssional Fi n Volum 14013#Pap 423,Deed
Tamant � of South
Rlveni&Drivtt
0
TMNCE: vith the Ead ri&--of-way of EaW&)uth Rivenimde Dfive aW the West Una
of 2 Nor&to Ihe Norffiwwt eo=T of Wd 2.54
am tad Of
TEMNCE: N er to the West f -of way f W South Riwd&D � the
SoutheaA emna of a 0.03=e trwA of out said
NC *- with tha,South linc of said West to tho East most
of Lot 4t Industrial P Add
d West to the W'' ®' of Wd Lot 4 and the East ri *of-way
Of YUMA Shvelp..
T N #. - fi- y of s m"d Ywna ftvot South to
corner of said rigbt-ofwway ad ft North line of of land
out of BMW,LP.Loving Survey,
wmor of a 116.50 acre hict ofUnd ott of . J.P.Loving Swvay end the
West comer of Block 2.,Rim C
Soudwmterly line of said Bloek 2 Soutbaut tothe SouthweA colmu of
i 131o&2.aW ft N w=of a 1.27 wm Vad of land out of
d pt IAYvmMg as conveyed to Swunan eopw=t in Volutm
M0201 Pap 1,32,,Deed,Ruor4 Tanut County,Toms;
of Wd,Bkock 2 and do,North lino said I.2
tract Of Block 2,ft Northeast
comer of Wd 117 acre bma of land and 936 Wed ri&-*f-way of MM
South "" de rI w
.r
Ord I M
Cky Of Pot Worik Tau
F 9 b
TECENCE. Ime of 9dd 127 of Und,nd to West y
Beck A.,Gme T le "'
IMCIP tb*North 11M of aid Block At Wwt to the NoftmsWy ti,&-of-
way oft T&P Rgalxo4-
vft to ply dgWof-wq of mdd T&P "` ,IMA ff(athwesteriy
to the bWwcdon of tha sdd Northmdedy fight-of-way fight-of-way d
Railroad and the�' .m
Rdhood,and to SouftaA comer of Lot 36,131ock a Park
Addition,
,iTMNCZI-p with th6 Westmly n"&t-of-wq of M'd Intemadonsl,&Onat Nordwn
tho Southeaswfly line of ,,,lion,N Park
y t Souk f Job w of
THENCE: with ft But line of d Book 4,Mores p l e Pwk Additiou and the
West line of said Block 2,Jobn Randol Addition,N
Al vt ri o sib
with tba But of s6d Bloa 4,Mor
6 ,of y of said Minia6ppi Avenw,North to -No
South fightmof-way of an e
T with the S r gt of- y of W ,West t Nor&wwt conrz of
I& o Block 2 . & Addition, right-oPway
of Evans A
toffie West f- yof 73vans Av So
of Lot Is Blwk A and Nor&aA comer of Lot I.,Block I.,said
Momingside Pork Addition;
of mdd Lot 1,Block A,and the North Roe of Mid
I„Block 1,West to tha Northwest comer of s9d Lot I o B
EN : wfth
It N line . B �, i n, t to
� f of aid T
Nom rigbtrof-way of mdd T&P RaDm4 NordryvvsWly to ft
pUm of a i coin ` so 3 97
It TAC§663210 dm not mfied the rmih of
nd is tat to be oW to oomq or oftbft tomt,In real p the
by dw omdcn or reconfiguraflon ofdw bomxbq of dw polftical m6divMm
CRY OFD Wotmt TCXU
DIMIATE *
Ilia thIs e sball take effed and be in full and eftd ffm and after
AND ORDADM.
A-
ADOPTED AND EFFBCMVR*.,.--11*-1&2006
APPROVED AS TO FORM ANT)LEOALffY.,,
Pea Vaky
Awixftt City A
MAC: orl=
so
Of Pat W TOM
IlIlIIIllIIok MR,—lot,I /*,�,�/......... lII /* IIIIIIIf,I M ......IIIff
IIIIIII/* `wj lIoI67' lkIoiIIilI14 j IllP,WM j"I III....I..... IIIIIIiIIIIIIIIiIIIIIRWMNW IIIIIOr C l�,� I I "I I Jj/,/,w,/,/', I If IWO IIiIiIIt/..I ........
INIIINo1w, IIIIIIiiIiIIf/ IIIll/*IMIIoIIIIIIilIIIIIiIIIIA I .......II I lif"I1p IIIIjp di,IIllIIIIIIlo IIIlIIIlp I, I "`�I IIliIII f[,II",iIIIIIIl1f iIIiIIIII , IIIIIIIIT I I i� IIIM1w, IIiIilIIIIIIIA7 III401, lit,II 'IN IIIIIAi IiIIIIiIIIIIij Ill 'All f/I IAN IIoIIIvm Ily, IIII I* IMIIIiIIldft,, jj Ijg* IIAll IIIII0100 llIji AM fop I'MR,0 IIIIIIIIIIIjrj IlNIIIIiIAwf
TIF PROJECT AND FINANCING PLAN
Tux Increment Reinvestment Zone Number Twelve,
City of Fort Worth, Texas
(East Berry Renaissance Tom')
Pro Plan and Mmancing Plan
Tai Increment Reinvestment Zone Number Twelve,
City of Fort Worth,Tens
(East Berry Ren$i8aance TYF)
1
mll�
j ect Plan,and, Financing'Plan,
Table of Contents
Q 0
is. Tax Inaetnaft Fbumlng Overview, ....00 0*0 0 0*00,0 WoWWwrW 0 as wooloftf*�---*m *a 9***a*owe, P**w*a*&.a*,*bib****is is *.**.m*3,
ILIU Project]Plan.,*a own m*am *A a No*6*000 a**** q#ftWo**,m 0 Wo&6191*0 0 Now***Ak*4100**AA,o*0**Oq0 6*0.6**A*****
A. Desctipuon of the Zone-A4*80 00*0 0MOV00*0*04 00 0 0 04 6 ON 4#mNI WqWm 0#0 a tow Iq*%1"**0%* *Ooso 99m 06
10 Ift At
10, NUP o'I'Doundwy.....-.0*******o* 00 0 10"M
to
• *
Us Legal ***No&060 bow N*Ikbqo*qwp......"AW0040004 4649
PU
6 A
M Map of Existing A4
0
iv. Map of Pr Values. Owasso&m*s**Ow4,WW s*so so,b 0,*10 W** 16
D. Proposed Chmgea to Cunmot Ordinamm md Cod'e3owa am'ma%W*mW,a,000*W*W4WW*V,#A*ow so I***04*0*4,61DO 60#40*0W*a q
c. Est,"mated NoRs"Projed Costs.. Moo,,.... sf A#"a*$** I*",*
D. Mtthed of Relocating Do htcood Perwns**om***lmn smoks,a Ike #0000 so* *A**## 18
1U. The Mnammgr Plan AV&***400*60 NO *0 Wo q woo"o—mm ua AA*nowlt 4110***qI 00#*0 o IvW* $1 low***0,40 044104*0*0*0*a 01WO o4Mo***'%,W 00,00 ww A9
A. Economic Fe"I"bility of flm Zone
B. Proposed r'rojects and,Improvemei#s...
V�ft VIA
CA Kzvenm *Mfions
No SI I Or Project Costs and
V. Tables,000 0 so,*ws.&*&*#27
...........
I. TAX INCREMENT FINANCING OVERVIEW
3
TAX INCREMUZNT FINANCING OVERVIEW
T ent ' is a toot Texas local g' e" to c
ements within a defted area., These mprovements
e!opncat or redeve e
stauft governing tax , if; codified M Chapta 3 11 of the Texas Tu Code Act and
(die"lax Co&") Chapter 3 11 is often 'd to as the Tax t s M C �`. t re " �. �" which v o public
can,be imdertaken.
A MUMMality an area e4libl+e for tax "'UTMent financing by designatiM a
reinvestment zone. Essentially, for the City to initiate the designation of an area as a
reinvestment , e area,must ) substaptWly arrest u of the
MMU. � t c� r
zone, the proviosiod of h c moo' P or
constitute is or social liabUity and be a mcnwe to the public health, safety,
onalsil or welfam in its present condition; or 2) be predominately open =4 became of
obsolete platUng, deterioration of
subsundally at arrest to sound growth,of the Mmucipality;-or 3) be o fedaraUy
assist,ed new community low M the murucipality or adj amt to such, '.
At the e an A dam' fr tax increment c e
�' f real i
"base value." Aft tmdng units s the zone dming the life of the will
continue to r ve e tax revemm derived Brom "base valm.'a
Asi n development is. d to the tax rolls wigiin valuations
m WS mse w new value measured and is called a R is p
V % The d y the p ` �i i jil ' ns the
M ink, a .e al "base value d the c t yew's "captured a& a .
,a sea `�" uefia i the 4 m . �'"' participate
will agme to e ,a po of~ e e �, ink° n. t" fift a
by the'local tax* i" .
The TW Board uses the tax increment to nmke public, . the ama to amrw
private develoixnent o e occur or dua may not occur unM a much
later date. Additionally, may enter irlo development w
participate in new e or redevelopmait
The District ends on the earlier of the to inaflon dato c 'in the
est:W1"shq' g the zone or 2) the date on which project cos have bow pw"d L Amy
revenues a n the the dissolution of thell are reftmxd, pm rata to,
each 'c
4
TH PRIOJEC i T PLA X N
THIE PROJECT PLAN
Acknowledging Fort continued economic, growth, the City Cotmoil, of the City of
Fort WmIh has made the rev and renmssanc of a of p
"` developers of properties
wi � the may d portions f cinfrastructure, with development
Opportunities Itilinnipr i the Board ftuugh development
agreements 6W i ne for reimburse f'eligible wtpmms for then developments.
also anticipated flud the Board may undatake certain public
it more e to vecp and rWevelopmeat.
The FAA Berry Renabsance repments an impoirtant opporOdty to support viable
Tbe ama. encompassed, by the bas
c, redevelopment general state of been in a ac decline � v new pri' ve
place M* the past twwty-five years. mo order to rt new and denser e e
hWm, the, as c in�ttucture in the area mustbe upgraded because most of the exisft
waier,sewer,and stotm Ihinage systerns were cons&ucWd more 9m fifty yew ago.
A. DESCRIP170N OF THE ZONE
The * t zone oufted by this Project Plan and Fwancing Plan (11he P )
locaWdM' the southeast a of Fort Wordi,Texas and encompames that lus bounded by Glen Garden D * on 1he northenunost bounday, State TE,ghvva 287 on the eagternmmt
boundary,Rivaside Ihive east of n the southernmost boundary, and Interstae
Highway
35 Frontage road on the wester=ost boundary- area chid
intersections such as Rivm de & Berry and Berry Afitchell and it m" chxW a Nbsonic,
Roue of Texas School property.
A map of the,boundary and the legal description of the mva am c=fthmd, doll
p as weR s maps the property values.
6
i. MAP OF THE BOUNDARY
w dM r v "
q W,p�
...........
Ji
A
"
Muni
AM
I, �"�.r I �N„w I� "°° ^�fv Jeri m�,,, H•.,ri"r " �*+ i, ,..
„....
X
flaw � ri�/ � %� �„i i��ww r ai ✓i � i ��i� �� --+�.+w u..
n �
I� of
i''iA
rwi awa�ro
pp
a
I i w
p .ro
rm.
o�
W
y I ,
r
u �'µ
LEGAL DESCRIPTION OF THE TIF
LEGAL C . ON OF Tff
�emg 4 pa=l of land out of tJ=I Huic Survey.Abstract Number 669,&e 0.Hxtzog
Abshwt Number 697,the 1 eye,,A struat Number ssg,,,tho S.P.Lovig Survvy,,,Abstrad
N 3 eye, '�Numb 8,the� Spey,Abp
Number 1342s the A. Sdnaon Survey,AbWact Number 1413,the A.Thompson,Survey,Abstrwt
Number 1499, the B.S.,Temll Survey,Ab6tmt Number 1 527,,sikwjedin the City of Fott
Worth,T being rum 'cutely dewnbed by nwtes mW bowxIs as fol
g at intersection of he t ", �!f way of h U y 35�' North
r.
4:;4
right-of-way the TP Rath
tee with the Fast right-of-way ate Highway 3 ,Wow
Southwest comer of Lot 16,Dobbim Subdivisi*on;
Thence:with the South Imo of said Dobbins Su i *lon,East to the soiAeast comer of
9 being n the West right-of-way of Evans Avenue-,
South with the West tight-of-way d Evans Avenue to due rOje
intersection o +� 'me Block 3, m e Addition Wd West fight-of-way.-
Tb c :East with the Sow line of&vdd Block 3 to and along the South line of Block 2
Mamingside Terrace Addition, d -of-way of isim- Avenue;
Thence:with the East right-ofway of s d NaWippi Avenue,North to the intersecdon of said East
light-of-way and the South right-of-way off"Glen Gazxha Drive.
with the South d g t-o ►of said Glen Garden Dive to the Southwesterly
right-of- of Old Mansfield
Thence.:with ft Southwesterly ftht-of-way of ow'd Old Marusbeld Road,Southeasterly
intersection of thr,Southwesterly rl' t-o y of said Old f Road and,the Northwestcriy
rigbt'of-way of East Bony Suvet
Thence.-with the Noftweftrly and Nom fight-of-way of sai SU=t, Northeasterly and
n of the No n - f" of said Fast Berry ftect and the Soudrwatetiy
right-of-way of Vaughn
Thence-,Soutimidetly with the Southwesterly -off-wad'of Bowl
Southeasterly to the intamx6on of d Swthwesurly dght-ofrway of Vaughn Suvd and the
N,o&mwt n"ght-of-way of Wichita 9
Thence- f' id WkNta 8ftet;Southwesterly and
ulb to the Southeng comer of the me Home Scboot Addition,
1
Thence.-with the South I M' z of said Masonic Howe School Add itiott,Wea to its Soirthwest corner
and the Fastetly right-of-way of Mitchell Boulevard;,
0
Ila=with dhe Westerly line of said Masonic Home School Addition and the Easterly
right-of-way of Said Kitchell Boulevard,Northwesterly and North to dw Intersection ofthe
ri&-of-way of' d NfitcheU Boulevard and the South n ght-of-way of said East Bw7 Street and the
I
Northwest comer of m'd Masonic Home School Addition-
"Ith ft So4h:and Southeasterly right-of-way of FAA Deny S Woo and Southwest to
Thence.vn
the fiftirsection of the Southerly 4bt-of-way of East Berry Strect and the Sew right-of-
way of said Oid Mansfield Rosdf
Tbence.-with the Southwesterly right-of-way of said Old Mansfield Road,Soudmmid to the Nortlumst
comer of Block 4,OD.Wyatt Addition;
Thence:West,Nor*west;and Southwest with the Worth I U"M of said Block 4 to the Nortimly rl*ght-
of-way of Briardale Road;
Thence.-with Said North right-of-way of Briardale Road,West to the Southeast comer of Block 19,
Rolling Hillis Addition;
Thence,:with the F.Ast he of sai'd Block 18,North to its Northeast comer;
0 ft ' " Block 19,West to * Northwest comer*
T hence.vn b the North I"me or smd its 9
libence.:with the Westerly line of said Block 18,SoudnvesWy to the Southwest comer of sm*d
Block 18 and the Northwesterly rightp-of-way of said Briardale Road;
01 "th the Northwesterly "ght-of-way of 'd Bdardale Road,Southwesterly to the,
"Once.vin n sal
FAst corner of Block 17,Roffing Hills Addition;
Thence:vn"th the Northeasterly line of said Block 17,Northwesterly to its North most
iq
Northeast corner,,
Thence:with the Nmth and Northwesterly line of mu"d Block 17,West and SoudmeAmrly to the
Northwest corner of said Block 17,the Souther est comer of a 2.54 acre ftwt of Imimi out of d e S.P.
Loving Swvty,,,Abstract Nwnber 9430 as conveyed.to the 1n nal Asiiation of 13bxk
Professional Fire Fighters as recorded in Volume 140,13.Page Tarrant County,
Texas,and the F"right-of-way of South Riverside Diivel;
Thence*-with the Eut right-of-way of Wd South Riverside Drive and the West In'10 of said 2.54 acm
tract of tend,North to the Northwest comer of Si 2.54 acre tract of land';
Ibenca,:Northwesterly to dw West,riightrof-wV of said South Riverside Dive,the Southeast corner
0
of a 0.0,3 acm tract of land outsaid J-P.Lovbw SUMN
A"
Thence.-with tht South,lint of Said 0.03 um ftia of land,Wed to the East most corner of Lot 4,
Berry In teal I?a*Addition;
................... m, mm mnnn
Tbmce:with the nmwden of the South be of said Lot 4,Soy
y,Westerfy and
No to the W me � Lot 4 and the East n*ght-of-way of Yuma
1 :with n'&-of- y of said Yuma S o t the South Amer of
said rl -of- y d N line of a S-65 acre tract of land out of said J.P.Loving S
with North line ofsaid 5.65 acre bul of land,East to t comer of a 16.SO
am&act of JaM out of id J .Loving Sinvey and the West comer of Hlock 2 River Bond
Condos;
ex with the Northeasterly T=off" "d 6*5 ofland and the SoudnvesWly
fine of d Block 2,Southeast to the Southwest comer of said Block 2 and the Northwest er of a
1.27 am Uaa of land out of said ".t vey c t S n ap e o nt 11
Volume 16020,Page 132, ant County,
Thence:vnth the Sotth fine of id Block 2 and the North hine of mod .27 of land,East to
the Southeast comer of said B :�the Northesa come of "d 1.27 of Me
West right-of-way of d Souffi Riverside Dn"ve,
0
'Vie'-0 with the FALst l e of *d 1.27 acre but of bmd,wid the West of-wa "of old South
Rjvmide e�Southeasterly to the Nortimmt,comer of Block A, Grace Tanple Additiow
with the W we of said Block A,Wea to the Northeasterly fight-of-way of the fi"
Railroad-,
Thence.with the Northeasterly Sri - f"- y of ` T&P Itailroad,Northwesterly to e
ft Won of the said Northeasterly light-of-way o" T the right-of-way of
the ato & Nom i and the S'o Lot 3 ,Block 4,
Itence:"nth the W "ri t-o d `o & 't Nortimn Railroad
d the S IM" e e of said 4,Momingside P=*Addition,w s ly to to South
comma of Ow Job Randol Add" .
Thence: th the Em#line of Wd Mock 4,Mbmingside Park Addition and the West line of said
Block 2,John,RAndol Addition,,Noith to the No rthwest corner,of said Block 2,and being M the
West right-of-way off"Mis ' i i Avenwv-
Thence:
nth the East line of said Bak 4,Morningside Addition and the W est,dgbt-of-way o f&dd
Kssmaippi Avenue North to the North of Lot 5,said Block 4,Morningside
Addition and the South fight-of-way of an alley;
Tbence-,with the South right-of-way of said ally, to t mmer of Lot 1,Block 2,
mid Morninpide Park Addition,and the FA9 r t-of y of Evans Avenuet
e .-West to the Wet iight-of-way of mid Evans Avenue,the Souflxwt cows"o"°Loft 1,Block
the Northeast comer of Lot It Block I,said Msde Park Addition;
n'qL
it aence.,-with the South We of fflu'd Lot 1,Block A,wW the Worth IMO of sm"d Lot 1,
Block 1,West to the Northwest comer of Said Lot 1,Block I
Thence.-v""th the West line of Wid Block 1,Morningside Paxik Addition,south to:the
16,
North right-of.-way of swd T&P Railroadr
p
11mce:with,the North 6ghtiway of said T&P Railroad,Northwedwly to the plat of
b "' " and conwning some 3,970 acm of lancL
Notec M=hRA prepuvd wxler 22 'AC j 663.21,doa not fvMed die mulft,of an on t1w grotmd mvey,and Is twit to
be used to CWvvy or Cisublish Inkrat M., Mal pmperty cwqt Omw r*hW and int=xt WpHed by The creation or
mimfigmsfim ofthe bouadwy of die political sub&Wca for whkb it was F"We&
F.atB*"CwidmMF
CTWMCG8W"rf Div�
File No WWI
13,
............
w MAP OF EXISTING USES
14
............... ...................-11.1................ ............
HL MAP OF EXISMG USES
1 _ _ ,r
rl
i
i
a
1
ft-
i
mwwwwr%
a
u
»v�wr w�wwwe
I
,
'NW,
rr �J
I � �
'p
r
yle
inr*
Nom
1 nUi,
r
t
�� ,ww,wMwr�wM,.r4"
,. ra
Ol
I
P
iv. MAP OF PROPERTY VALUES
16
�a III I�III ply NNIII ����
I�
V
. r ,
w�
a
I
C
I Y a
�d
i
Y
R
9
s
/
I
i
� b
r
r
n
I
'N 117a
�w�rrr
V
I
PROP%.#bED CHANGES TO CURRUff ORDINANCES CODRS
Thete am dy no
mmicipal to "cipated i of
die plam by the
C. EST MATED NON,.PROJIKCT COSTS
N ■w not expeeW t' incumd within e ■
No,petson sW bc disp,hwed as a result of i �' Phm
8
III. THE FINANCING PLAN
19
fa
4
Pill ►" ire :11 , - rr N
1
V 1 1 f X 11 0 Wil s i� - ill I n
1 * ., .�
Mi lit
.�.
:'�" � ^#"n � I a d ,� ��� "�'. '� � �� �1k � ■'.�� �rM � �� �.� � � � w � !� � ".f � 11 #
U. Increased d Commem al Business
Based
10 aores, of the e &rft beemiing new or redeveloped mW
ewmemial .
III. Employment Opportunities
addition IN 4
In to the os cmated&uing construction of the proj
OW the fut=development of the Zone mw1fing fim the -vale - improvemanu will
generate a wide vadety of aMtiwal employment oppoftunities,
r
2
redevelopment loft
no PROPOSED PROJECTS AND IMPROVEMENTS
The as will consist of a combination,
public improvements, v projects, These ` will provide a improvements
�` tion for a ent to encourage and mqpxt the public the
neighborhood d s is growth opportunities Fort
.Initial Improvements
water,The initial, improvements contemplatrA 'in the East Berry Renaissance TIF include,-public
kdwtrucb= (e.g. i with mixed-use
&wvelopment o tioi4 etrVi*W11n1entW reme&aficm, and all, acpenses
m t F `
allowable e T Act [a. needed f as of
the Zone identified as'nple r new or redevelopment '' ' " w ov i en by
the will be assw"aW with the projeeft fisted, l
East Berry Corrilder huprovements — Street, traffic., utiliV, drainage and other public
S 35 to Highway 287
Public h*astftucture mxh as water, wwer, drainage, rouls, sidewalks,, etc. associated
with the following development Foj octs
* Sierra Vista PbWe U Commercial RcWl Developments planned
or the norlheast comer of Rivemide and Beny
Masonic Home o M s Development of this site
once sold to a prix 71 which-is p tea 2006*
Sierra Vista P -Commercial and Retail D: e. m t planned
on thesouthwest corner of Rivemide and BetTy'
Betty Sueet Gateway S 4 tr c� utility,, and other public
WWMXtM projecu at ffie gateways of the nF at fflr35 and 7
Administmdve Expemes
.FuWm,Improv
There are no futute project p dig the of the H erg, the City
Council mayes the,ngbt to consider amendments to the 'e p se
* � �
re 1 ♦, fund* '
22
TAX INCREMENT RXVENUE PROJECTIONS
D
11 Bonded Indebtedness
No bones W ' expected to be incurred to any ofthe project,
■
t&
U. Projection,of Revenues
This ion outlines the c . � m The zone Tax mscrement
depend on many factors, c the baw value of rml pvpertyM'w the Zone subject to
prWerty q (b) value- c annual gmwth of the Zone's taxably' real
(which
(d),partic' ad(a by,tax
largely
is (e) e . e. t is
&cwsed*in wrti.
(a) Twuhle A=Aised Yo uc for 2006 Base Value), Tfible I sets, forth the
total tnable appraised vie of the Zone(e $30,154,,9 )1,which
anticipated to be the 's base value.
(b) !ggVtmmd
d Value. �� 1e w s f the �" � ' e
value of property e Zoe over the life of the to knately
$I
21474,746 in Yea 2026).
(C) F4X,CtedA
of the Zone's Taxable Real The esdwated
captured appraised,value(thus reflecting est. of p taxable es
t1le Zone � � the m-
w
annually in total and from each outlined on'fable
(d) Pj[fiqi�*2n by Tax Units. Although ewh taxing entity has not agreed-to a
specific level-of participaticm, the I proj f the Plaw anticip&es,
The City of FEW Tamnt County,the T Hospital is Teraw County
Collegc6 and TarrmA Regional Water D isWct will paWcipiate the Z contributin
one Inmdred percent,(100%)of their tax fns d t with erect to the Zone.
,a.'%
(cj Pnoec
1_1&4 Tax R
.atel, Property tax rates am murned to reniain wnstanL
(f) i Collection The Plans ammes a one hundred percent(100%)
colleWon rate.
r %L 13)
Term of the Zone. The term of the a be 21 years, expirmg on
Dec=ba 31, 2027, be&ning with dud Zone tax ent, generaW by the 2007 tax
0
appraisal and uilng with that Zone tax iaremcnt genmmted by 6
wip e
WIN Estimoted Payment of Projed Costs
Based on the forthin infomiation above, it z- expected
is suffickmt to pay m full all j (including i
the Zone tax in�retnent will,be nterest).
24
YXI
A T . SUMMARY OF PROJECT COSTS
AND FINANCING
IV,,. 9UMMARY OF PROJECT COSTS AND i
A.AnficipaW
FAA Berry Corridor Improvements* $ 715001,0100
Public InftstrueWre associated with
o b ierTa Vista Phi R Co (Northeast 0 '
o Masonic Ho=of Texas Property Redevelopment* 572003000
o Sierm Vista Phase S * X00,000
0 Berry Stred Gateway Enhancements* $ 11700)000
0 Adminbtrafive EVenses 5D..3000
TOTAL PROJECT COSTS $2021
13.Aiaticipated 1U Revenues
City of Fort Worth $19,260t657
Tarrant County $ 6347 194
'Tarrant i $ 5,590,73
Tarrant County Coffee District $ 31310,0310
Tan-ant Rf i Water District N 5, '
T $35,108 55
*Project costs assume l'onterest soci rem' bursement for pubfic " .
TABIXS
27
i
4
I
Wool mp
Wool
mad
111104
SIM
Mint
fill
kill I
w.
,� ww
I
COUNTYRESOLUTION
i
• .s
to
•
•
w
• .•
xxjL�,SOLUTION
PARTICIPATION IPATION of TARRA T COUNTY :HOSPITA►.L DISTRICT"
IN CITY of FORT WORTH TAX INCREMENT FINANCING
IG
REINVESTMENT ZONE 12 - EAST BERRY RENAISSANCE TIF
WHEREAS,the general lawn of the State of Texas authorize governmental taxing,entities to
j,,oi.r other taxing j urisdictions in the establish men.t 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 undertaken without such
incentive; and
WHEREAS,the Fart Worth City Council approved Ordinance No. 17061-07-2006, date
July 1 , 2oo , 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 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 Forth City Council has adopted a Project P''lan and Financing
Flan.which was approved and submitted by the Reinvestment Zone Board.of Directors on April 11,.
2o ; 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 it accordance with Section �11,01 (f-1 o#�the Teas Tax bode, the Tarrant
County Commissioners Court may act on and enter into Tax Increment Financing participation.
agreements on beh .lf'�ofth.ose 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 'n the Fort,
Worth Tai. Increment financing Reinvestment Zone #12 and the payment into the tai: increment
fund of eighty percent 80% of the Hospital Districts collected incremental tax revenue(as set fart
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 :gone, beginning with Tax Year 2012 through
December 31,2027,or until Four Million:dour 14undred Seventh'-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 ever occurs :first, in accordance with the tees of the
attached Agreement,-I that the Agreement he 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 he and is hereby authorized and directed to execute said Agreement
on behalf of the f1os ital District substantially 'in the Barn attached hereto and carry out the terms
thereof at the appropriate time (s).
PASSED AND APPROVED, IN OPEN COURT, this 11 th day of December ber 2.
CUT ORDER N
13. Glen Whitley, Count d e �µ
Of
00,, C. rooks Andy �kllyuyen
Commissioner, Precinct 1 Commissioner, Precinct 2
Cyary Fickes, T.D. Johi
Commissioner, Precinct 3 Commissioner, Precinct 4
w
ATTEST. PP.R A .
County Clerk Asst. 11 riot Attorney
M'&C Review Page I oft
('Afidal site of the City o,f Fort Mali, T'II
FoU WORT H
CITY Cu"Um' 'ONCIL AGENDA
COUNCIL ACTION.- Approved on 7/18/200!6 - Ordinance No. 17061-07-2006
DATE. 7/18/20,016 REFERENCE NO.: G-15299 LOG NAME: 17TIF12EBERRY
co EN-1 G TYPE.-I NON-CONSENT PUBLIC YES
HEARING:
SUBJECT.- Adopt Ordinance Designating Tax Increment Reinvestment Zone Number 12111 City of Fort
Worth, Texas (East Berry Renaissance TIF)
M"A
RECOMMENDATION:
It is recommended that the City Council:
1. Hold a public hearing concerning the designation of Tax Increment Reinvestment Zone Number
121 City of Fort Worth, Texas for tax incremennt 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.
DISCUSSI0111N14-
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 o ens 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 Exhiblit 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, 2,027 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 a�nd 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 1010,% 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), pubil'I ished in a newspaper of general circulation at least seven days, prior to this meeting.
http,//apps.cfwnet.org/council_plac,ke mc—rieview.,asp'?ID=6123&councildate=7/18/2006� 7/2/20'13
M&C Review Page 2 oft
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 substantially impairing and arresting and contains the sound growth of the
city.
This property is located in COUNCIL DISTRICT 81.
FISCAL IN,FORM,A''TlCETI,FI,CATI,01N:I,-,I
The Finance Director certifies that this action will have no material effect on City funds.
TO Fund/Account/CeUtlers FROM F'und/Account/Centers
Submitted for CiRy Ma�ner's Oci Dale FiI
sserer(6140);
Orig,inating Department Head. Toni Higgins (6192)
Additoloniall Informat"l ►ni, Contact: Ossana 0. Hermosillo (8618)
Peter V y (7601)
ATTACHMENTS
,Aerial Boundary Map, T1F.Pd
East Ber[y 'TIF Ordinance v2.doc
11 *
http..//app�s.cfwnet.o rg/co unei 1—packet/m c—rev i e�w.asp 9.1D=61231&counct 1 date=7/18/20016 7/2/'2013