HomeMy WebLinkAboutContract 44609 SI
CTry
CONIRACT NO*400M
AGREEMENT,TO PARTICIPATE]IN'
TAX INCREMENT REINVESTMENT ZONE NUMBER T TEEN
CITY OF FORT WORTH.TEXAS
(WOODHAVEN TIF)
This AGREEMENT TO PARTICIPATE IN TAX INCREMENT
REVgVESTMEN' ZONE NUMBER THIRTEEN,E1" , CITY OF FORT WORT
"TEXAS "'Agreement") is entered into by and etween the CITY OF FORT WORTH
TEXAS t "City") and TARRANT COUNTY HOSPITAL DISTRICT (the
"Hospit l�� 1 tr1r " .
The City and the Hospital District hereby agree that the f AVM` g statements are
true and. correct and constitute the basis upon w "ch the City and the Hospital District
have entered into this Agreement-,
On November 27 2007, the City Council of the! City (""'City Council")
adopted City Ordinance No. 17889-11-2007 designating certain real property located Mn
the e,ste,portion of the City in an area bounded by Highway Unp 820 on the cash an
Interstate Highway 30 on the south as Tax Increment ] e n ea
est t Zone Number
Thirteen, City of Fort Worms Texas, (the "'TIF District"). The TI' District is :nfrrnally
known as the "Woodhaven TEF". Ord M* ance Nn. 17 1 1-2 � 7 is hereby incorporated
by reference for all purposes and is attached hereto as Exhibit"A".
18,* Designation of the TI ` District will cause development of property n and
0 around the TIF Distri c�t to occur:that would not occur nth Tmse M the foreseeable mature.
As a resat of designation of the T1F District, it is intended that public, M* fimstructure for
Woodhaven and for ' cvd p:rent projects w he faded.. It is anticipated that
other complimentary development " the T IF District will follow. This ov r, 1,1
development Will result in fficrcased tax revenues and ether public benefits for both the
City and.the Hospital District.
C. Punt to! Section 311.013(f) of the Texts Tax Code, the Hospital
Di strict is not required to pray any tan 'increment into the tax increment fund of the TIF
District new t enters into an ,agreement to "do so With the C ity. The Hospital District
wishes to enter into such an agreement with the City.
NOW,THEREFORE,for and in consideration of the conditions set rffi herein,
the sufficiency of w c 1 hereby acknowledged, the City and the Hos
pi
tat District d
hereby cntrad covenant and awe as follows:
to INCORPORATION OF RECITE
The partie's herby agree that the recitals set forth above are true and correct and
fog thebasis upon which they have entered into flids Agreement.
Hospital District Participation Agreement OFFICIAL RECORD', VED Jut
re:Woodhaven'M CITY SECRETARY
Page I
Pre WORTH9 TX
2. DU
L IIONS.
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
Chapter 311 of the Texas Tax Code.
rai
Captured A2praised Value in a given year means the total app 'sed value of all
real property taxable by the Hospital District and, located M* the TIF District for that year
less the Tax Increment Base.
ELojec Plan means the proj I ect plan &Tthc development and/or redevelopment of
the TIF District, as adopted by the TIF Board and approved by the City Council of the
City, attached hereto as Exhibit"B".
TIF Board means the governing board of directors, of the TIF District appointca
in accordance with Section 311.009 of the Act and Section 3 of'City Ordinance NoO
17889-11-2007. The Hospital District shall appoint and mW"ntM*n at least 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 TIC Board meetings and actions.
TIF Dishict means the certain real properties and boundaries as described in City
Ordinance No. 178,89-11-2007 attached hereto as Exhibit"A':).
Tax Increment 'in a given year means the amount of property taxes le"'ed and
collected by the Hospital District for that year on the Captured Appraised Value of real
property taxable by the Ho spital District and located in the TIF District.
Tax Increment Base means the total appraised value as of January 1, 2007 of'all
real property taxable by the Hoit al District and located M" the TIF District.
Tax Increment Fund means that fund croated by the City pursuant to Seefion
3111.014 of the Act and Section 6 of City Ordinance No. 17889-11-2007, which Will be
maintained by the City, into which all revenues of the TIF District will be deposited,
qj
MC.luding (*.)I depo, 'tq of Tax lncremmenA by the City and by other taxing units w
j over real property in the TIF District, including the Hospital District, and (ii.),
all accrued interest emmed on the cash balance,eft a fund.
TIF Ordinance means City Ordinance No. 17889-11-20,07, attached, hereto as
Exhlbft "A",
Hospital District Participation Agrcmnent
re:Woodhaven TTF
Page 2
3. DEPOSIT OF'TAX INCREMENT,
Pursuant to a Resolution duly adopted by the governing body of Tarrant County
on behalf of the Hospital District, which Resolution is attached hereto as Exhibit 11C11
and is hereby made a paxt of this Agreement for all purposes, and specifically subject to
Section 4 of this Agrecmen� the Hospital District hereby agrees to deposit each year
dun'ng the rcinain:ig term of the TIF District, lie gm* ni'ng with the 2012 tax year, eight'%,),
Y
percent,(80%) of the Hos Pi ital District's Tax Inter into the Tax Increment Fund up to
a maximurn curn-wanve contribution of Two Million Four Hundred Ten Thousand Two
Hundred, and Seven Dollars ($2,4.10,207) (the "Maximum Hospital District
Contribution"). Such deposits shall be m m' accordance VVith Hospital District's and
the City's standard administrative procedures relative to all tax increment re vestment
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 i's required for at year.,
40 LlMffATIONS OiN TAX 1 REMMNT DEPOSITS AND USE IMF 1 F'UNDSI.
is Agreement is based on the following conditions,, and the City agrees and
acknowledges the Hospital District's fight to enforce the conditions contained hereim by
in a
juneflon or any other lawful means in the event one or more of such conditions are not
satisfied.
4.1. Amendment to T'IF OrdWance,
The TIF Ordinance designates the boundaries,, the eligible real
properties for the calculation of Tax Increment for the TIF District and the
specific participation level for the City. All amendments to the TIF Ordiance
shall be approved by the '� d for to approval by the City Council. If the
4,
ity
C CI ouncil approves, an amendment to the TIF Ordinancc diffffent from the
amendment approved by the TIF Board, 'the Hospital District shall suspend
payment into the TIF Fund as described in Section 3 until the amendment is
approved by the governing body of Tarrant County.
4.2. Certain TIF District Pr9j"ect Costs,Exclude&
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$13)15001000 in
A lin I'm"MV le irnprovem, tints as set
project costs for * frastruct-ure em.ent.e or other publi
forth and identified, in the Project, Plan attached hereto as Exhibit "B" (the
"Maximum Project Costs,"). All, TIF Fund allocations, includimg but not limited
to any management and administrative cost, tnust be approved by the TIF Board
in accordance with the Project Plan. If the Project Plan i's amended, the Hospital
District shall suspend payment M* to the TIF Fund as described *in Section 31 until,
the amendment is approved by the goy'eiming body of TwTant County as an
amendment to this Agreement.
Hospital District Payticiplation Agre=ent
re:Woodhaven UP
Page 3
43. TIF District Ex ensign.
As defined, the TIF District shall include real properties, located within the
boundaries as descn*bed in the TIF Ordinance. If the'TIF Diostrictisi expanded,the
H Spqt I
o al District is not required to deposit into the Tax Increment Fund any, Tax
Increment generated from properties i the expanded area unless participation M'
the expanded boundary area s aRroved by the govming body of Tarrant
County as an amendment to this Agreement. Additionally, the Tax Increment
deposited M* to the Tax Increment Fund by the Hospi*tal District may not he used
for any pemuissible project costs m' any portion of the expanded area of the TIF
District unless approved by the goverm"ng body of Tarrant County as an
amendment to this Agreement.
50, TERM.
This Agreement shall take, effect on, the date as of which both parties have
executed 'it and shall expire upon expiration or termination of the TIF District, he
currently is the earlier of(i) December 31, 202,8 or an earlier termination date designated
by ordinance subsequently adopted, by the City Council of the City or (ii) the date on
which all project costs of the TIF District, including, but not In' nited to, tax increment
bonds and 'interest on those bonds, have been paid or otherwisc satisfied in full, (iii) the
date on which die Ma=` um Hospital District Contribution is reached, or (iv) the date on
M�
which the Hospital District's pro-rata portion of the M ax'IMI Project Costs including,
but not limited to, tax m- crement blonds and M* terest on those bonds, have been paid, or
otbermn'se satisfied,M* full.
6. TIF EUND ACCOUNTING,
No later than July 1, of each y=folio wm' g execution of this Agreement, the City
shall provide, -the Hospital District with an annual accounting of the funds deposited to
and disbursed from the Tax Increment Fund, Including accrued interest. After all profect
costs,of the T'IF District have been paid or at the time of the expiration of this Agreement;
any funds remaining m the Tax Increment Fund follow* the the final annual accounting by
the City shall be paid to those to xi g,units participating M* the TIF Dishict in proportion
to each taxM9 unit's share of the total amount of Tax Increment deposited into the Tax
increment.Fund,
7* RESPONSEBILITY FOR ACTS.
The City and the Hospital District shall each be responsible for the sole negligent
acts,of their officers, agents, employees or separate contractors. In the event of oint and
i in
concurrent negligence of boffi the City and the Hospital. District, responsibility, if any,
0
shall be apportioned comparatively with the laws of the State of Texas, with the
0 . 4 0
understanding that neither party waives any governmentai powers or immunities or any
other defenses available to each M* div-1dual1y.
HOSPIM,District Parficipation Agrwmt
re: Woodhaven TIF
page 4
a as NOTICES.
All written notices called for or required b s Agreement shy be addressed to the
fo to such other party or address as either party may subsequently designate in
g by c fc.mom,postage prepal"d,or d delivery.
City* Tarrant County:
City of Fort Worth Tan-ant Tan-ant County
City Manager Attn: County Admim'strator
Orton 100 E.Weatherford,,SUite 404
Fort Worms TX 76102 F ob X 760'2
Tarrant County Hospital Dbtriceo
S Health Network
Attn: President/CE0
15010 S.Main Street
Fort Worth, TX 76104
wi copies to.0,.
the City Attorney me d
Housing d Economic,Development
Director at the same address
9'* NO WAIVER,
The failure of Biter party to insist upon the perfbrrnance of any term or provision
of this Ag r t or to exercise any right granted hereunder s a l not constitute a waver,
of that party's right to st upon app prate performance or to assert any such z.g t on
any future occasion.
.
E S ICT
If any action, whether real car asserted, at IaW OTin equityl, arises on the basis of
any provision oft s Agreement, venue for such. action shall, he state couits located
Tan-ant County, "Vexes or the Unite States District Court for the Nortliem District of
Texts-- Fort Worth Division. i s Agreement shall he constmed in accordance With the
laws of the State of Texas..
ill NO THIRD PARTY RIGHTS,
The provisions and conditions off"this Agreement solely for the benefit of e
City and the Hospital District and are not intended to create any rights, cont-actual. or
otherwise,to y other person or entity.
Hospital District Paiticipadon Agreement
re:Woodhaven TIF
page
12, FORCE MA URE.,
The parties shall exercise every reasonable effort to meet their respective
ations as set forth * '.4 0
19 in tws Agree ent, but shall not be bald liable for any delayin or
omission of performance due! to force majeure or other causes beyond their reasonable
11 IF It a
udi
control,including, but not limited to, compliance with any government law, ordinance or
regulation, acts of God, acts of omissiot4 'fires, strikes, lockouts, national disa-sters., wars,,
nots, material or labor restrictions, transportation problems and/or any other cause
beyond the reasonable control of 6then party.
13, INTERERETATJON.
In the event of any dispute over the meaning or application of any provision of
this Agreement, is Agreement shall be interpreted fairly and reasonably, and neither
more strongly for or against any party,regardless of the actual drafter of thIsAgreernent.
U. CAPTIONS.
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 exbibits attached hereto and any documents
incorporated her em' by reference, contains the entire understanding and agreement
between the City and the Hospital lei sttict as to the matters contained herein. Any prior
or contemporaneous oral or Wn'tten agreement is hereby declared null and void to the
extent 'in confliet with any provision of this Agreement. Not w'that andm* g anything to the
contrary her n, this Agreement shall not be amended unless executed 'in wn'ting by both
parties and approved by ffie City Council of the City, in an open meeting held in
accordance vafth Chapter 551 of the Texas Government Code.
16. APPROVAL AND EXECUTION.
In accordance with Section 311.013(f-1) of the Texas Tax Code, the Tarrant
County Commissioners Court may act on and enter into the Agreement on behalf of the
Hospital District.
i
17. COUNTERPARTS.,
Thi's Agreement may be executed In multiple coup s, each of which shall be
considered an original,but all of whicb shall constitute one instrument,
HospiW District Participation Agrement
re:Woodhmvn TIF
Page 6
EXECUTED as of the later date below.-
CITY O,F,'FORT WORTH,TEXAS: TARRANT COUNTY
on ble!h�alf of the
TARRANT COUNT'Y HOSPITAL
0
DIS,TRICTI,
0
By*
"M m3il+%'(z eA.OT5"�Syl z4v 13.G�len V;Mtley
Assistant City Manager County Judge
Date. atc
F
ATTEST.-
0:0 1
B y N
B
09 -
er
City Se&OW orDeputy Count,y C.3
00000
S
L
1117
APPROVEDAS,TO FORM LEGALITY: APPROVED,As, FORM
B By*
Asslia CityvAtfttorney Assi st, 01istfict Aftorney
M&C#-, (U3+ (0.j-- COURT'ORDER NO.
y law,the DiftKaktorney's Orice may only advise or approve contracts or legal documents on beha#'of its
clients. It may not advise or app row a co act or legal document on behayof offer parties. Our vie"i of this
document was can i*wed solelyfrom the legalperspecfiw of our client Our approval of this document was olfered
Other parties should at rely on this Approval and Aould scek review,and approval
�Ir
by their o"rapecdw.attorney(s).
OFFICIAL RECORD
FF11 IE 'ORD
CITY SECRETARY
'A
Hospital District Participation Agrement 'r I
re.-Woodhaven TIF rFral WORTH, TX
Page 7
" IT"A"
ORDINANCE ST LISH T WORTH TIEF DISTRICT#13 AND
E BOUNDARIES i IF REM ST NT ZONE
O"RDINANCE NO. 1788941,2007
AN ORDINANCIE DESIGNATING A CERTAIN CONTIGUOUS
GEOGRAPEOIC ARFA IN THE CITY OIF FORT WORTH AS 11TAX
CM OF FORT' WORTH, TEXAS11; CREATING A BOA" OF
DIRECTORS FOR PROVIDING EFFECTIVE
�
AND TERAUNATION DATES FOR ZONE, FSTA13LISInNG
u
A INCREMENT FUND FOR ,_I NE,,
CO G OTHER RELATED #
WHEREAS,the City Council desixcs to promote the development of land Mm' that
certain us geogWhic area in the City Bch is more specifically
Exhibit "A" of Ordinance ( Zone,'D on h the creation of a new reinvestment
zone as authorized y and M* ,accordimce with the'Tax Increment FManC t� codified
af Chapter 311 of the Texas Code(the"Code ) and
on r about September 14, 2007 the City provided written notice to
the governing body of each to g wait that levies real property taxes in the proposed
Zone of(i) the City's intent to setae Zone; (ii) desmiption of the boundaries of
the Zama; (iii)the City's tentative plans for development of the Zone; and(iv) an estimate
of the general act of the Zone on property values and tax revenues; and
EWMAS, m accordance with the requirement MiPosed by Section 311.003(e)
of the Code,the City provided such Witten notice More sixty(60), days for to the
date of the public hearing. cond ted pursuant to Section 311.003 c of to Code, and
NIMRIFAS) the City has prepared prelimfivay project and financuig plans for
the proposes Zone and provided a copy of those plans to the goy' n ody of each
taxing uuit at levies taxes on real pro " the Zone, as required by Section
311.,003(b) of the Code (the"Peel maw Plans"),
Page
rdinanec Dts*gnntWg Tax Inarmrnt,Reinvestment Zone Nwnkr Thirteen,
City of ort Word-4 Tcxas
VVIMMEAS, 'in accordance with,Section 3 11,003(f)of the Code, on November 6.
a
2007 the City made a s' le, formal presentation to the govemmg bo.,dy of each wunty
Ing
IF
and school district that levi"'es real, property taxes, M, me proposed Zone, as agreed w 'in
0.0
wnting by the Fort Worth Independent,School District,,which presentation, on other
things, M' cluded (i) a description of the an
proposed bound 'es of the Zonq (H), the City's
3
tentative,plans for development of the Zone- ("iii:)an estimate,of the general implact of
the e on property values and tax,revenue,§;and
HE.NYAS, on Noyember 27, 2007 the City Council held a public hearing
regarding the creation,of'the Zorte and its bene:fits to the City and to Property M" the Zone
and afforded a reasonable opportunity for (i) all 'interested persons to speak for:ts or against
the creation of'the Zone,its boundafies or the concept of tax in rement nancing and(ii)
owners of real Props elty in the proposed Zone to protest inclusion of their property in the
7,one, as required by Sections,3 1 1.003(c)and(d)of t1w Code; and
YOUREAS, notice of the public heafing was published 'ma newspaper of
general circulation "in the City on November 19, 2007,which satisfies the r 9 equirement of
Section 311.003(c) of the Code -that pubUcafio-n of the notice occur not later Um the
seventh day before the date of the public be=ngo,
NOW, THEREFOREt BE IT ORDAINED RYTHE CITY COUNCM OF
rr
.M CrFY OF FORT WORTH,TEXAS
pav 2
Ordinance Designaing Tax Incmraent Relay Zone Nmber Mdem;
City Of Fort Worff4 T
Section 1.
FMINGSR
That after reviewm* g all infonnaticm before it regarding the establishment of the
Zone and der conducting a public hearing regarding the cication. of the Zone and its
benefits to the City and to ;property the Zone and affording a reasonable opportunity
for ) all- interested pemns to speak for or aga 0 inst creation of the Zone, its
boundafies or t+ `�tax�� r property M*
the proposed Zone to protest inclusion of their prop the Zone, the City Council
hereby inakes the Mowing findings of fact
I-Is statements and facts set fob the recitals of this Ordinance are true, and
correct r are the City has met the notice and procedural requirements
establisW by the Code for creation of a reinvestment zone under the Cade,
2. The Zone consists of appro=ately 1,100 acres of hmd and the area within the
zone is contiguous.
1.3. overall existing Properties within the Zone are depressed aud the area
mpassed by the Zone has been in a general state of cconome decline for than
pmt twenty ye
1. . The Zone lacks essential infrastructure to suet * vi development,
including but not limited to,water,sewer,drainage,roads and sidewalks.
L5. Based on the facts set forth Sections 13, and I-A hereot as well as on all other
information Provided to and/or known by the City Council with respect to the area
within e Zone and the vicinity f the Zone, the City Councal herby
Page 3
Ordln=ce Designating Tax increment Reinvestrnen,t Zone Number Thirtmn.
City of ort W ,Teas
finds Und development of the Zone will not occur solely tbxough private
nivestment M' the foreseeable firtare.
L6. T alI facts into consideration, the area within the Zone substantially impmrs
and
ass ts the sound growth of the City and constitutes an economic liability and
a menace to the public health safety because, of(i), a substmatial number of
substandard, deteriorated and deteriorating structures, (H) the predo e of,
inadNuate sidewalk, and stred layouts; (iii) faulty of layout in relation to sii
ze,
adequacy accessibifity and us mss (iv) unsanitary and um,afe conditions; (Y)
the deterioration of site and other u" n-provements; and (vi) conditiom that
endangg life and property by fire or other cause. Thersfore, the area witbin the
'Zone meets the criteria ior des,i gnatidn of a rem vestm zone and satisfies.tie
requirements of Section 311.005(a)(1)of`he Code.,
1.7. No more ten percent (10%) or less, of the property M the Zone "is used
currently for residential purposes,as specified by Section 31 f. of the Code.
1.8. According to the most recent apprm"sal roll of the City,the tatal appraa*sod value of
all taxable real property M the Zone and m em'sting rem' vestment zoines M' the City
does not exceed fifteen peTcent ('15%) of the total appraised value of taxable real
property M the City and inm* dustrial districts created by the City,if any.,
1.9. The Zone does,not contain more flm fiftmn percent (15%) of the total appraised
value ofreal property taxable by any county or scholol" district.
Page 4
Oirdinan=Designating fax 1==!cnt Reinvestment Zone 'umbra'Tbirttt�
City of Fort Worth,,Texas
Section 2« "
DESIGNATION F NEW ZONE.,
That the City Council hereby designates, to one descriffied * the boundary
description depicted, M the map, hoth attached hereto as ExMit "A'10 m r,
part o f' this Ordinance for all purposea, as a reffivestnent zone, punuant to d
accordance with the Code. This, rem" Vestment zone shall he known as !Tax Increment
Reffivestment Zone Number Thirteen,City of Fart Worth,Texas."
Sector 3
ZONE]BOARD 01F DiMCTORS.
That a board of directors for the Z one ("Board") is hereby a � The Board
shall consist of eleven(.I)members who shall serve for terms oftwo (2) years each. Of
these eleven 11) membeas, =h t . it other the City that levies s on real
property e Zonr,may, but i's not required to, appoint one (1)memto the Bo
After each `gig unit other the the City designates to the City either the name of'the to
member t the it wishes to appoint or a i g .mow
Waive its tight to appoint a member, the City Council shall, appoint whatever number of
Members are recess to fill the g positions on the Board. Such members may
he members of the City Council.
Section 4.
,RM OF ZOO
That the Zo e shy take effect . " te y upon the adoption of is, Ordinance
and terminate on the earfier of i) December 31, 2028 or an earlier tee on date
Page 5
Ordinance Demiguating"fax Increment Reinvestment Zone 4urr ber-Midas,
City ofFort for b,Teas
a
designatedby an oniinance adopted after the effective date ofthis Ordmwce or 0i) the
date, ola which all project costs, tax in=ment bonds and interest on those bonds have
been P21"d or otherwise satisfied M' full.
Section 514
DETERMINATION OF TAX INCREMXNT BASE.
That the tax ffici=ent base for the Zone,as defined by Section 311.012(c)of the
0 It 9
Code, shall be the to app rmsw vuue of all real property M' the Zone, taxable by a
0 0
tuing unit , 200,7,which i's the year M' which the Zone was desigaated as a
a
remvestment zone.
Section 6.
TAX INCREMFM FUND.
That a tax m" crement fund, for the Zone (the "TIF Fund") is hereby establishe&
The Tom" Fund may be divided into additional accounts and sum accomts authorized by
resomon or ordinance of the City Council. The TIF Fund shall consi'st of (i) the
percentage of the tax morement, as defined by Section 311.012(a) of the Code,that each
ta)dng um"t,wbich levies real property taxes M* the Zone,other fl=the City,has elected,to
dedicate to the TIF Fund pursuant to an, agreement with the City authofized by Section
311.013(f)of the Code,plus (ii)the City's contribudOn of one hundred pement(100%);of
the City's tax, fficrement, as defted by tion 31 1.0�12(a) of the Code, subjea to any
binding agreement executed at any .ne by the City -that pledges an amount of leg
4,
available City, funds whose calculation is based, m' whole or m" on payment to or
Page 6
Ordinance Designating Tax Increment Reinvestment Zone Number Thirtemi,
City of Fort Wortb,Texas
r 'by the City of my portion of such tax increment. The TIF: Fund shall be
maintained m" an account at the. &pository 'bank of the City and be secured M" the
manner prey ed by law for Texas cities. ven s m the'TIF Pund willbe used solely
accordance with Section 311.014 of the Code.
Section 7.
TAX,INCREMENT A.GREEMENTS.
That, pursuant to Sections 311-008 and 311.013 of'the Code, the City Manager
and City A mey are hereby authorized to execute and deliver, for and on behalf of the
V
CiV2�,Itax increment agreements with twing its that levy real property taxes M* the,Zone.
Section 8.
S
That iT any portion, section or part of a section of'this Ordinance 'is subsequently
It MY 1 3 0 *d for any reason.by a cowt of competent" * .10
dewareck al"d 1110 five or void juns=6014
P e rat
the remam' m* g portions,sections or parts of sections of this Ordinance shall be and rem am"
I I a 01 0 V
in fill force,and effert and shall not'in any way be=paired or affected by such decI8,1014
0 a
opimon or judgment.
Section 9.
EVEWEDILATE EFFECT.
That this Ordinance shall take effect and be in full for and effect from and after
its adoptiom
Pagc'7
Ordinance Designating Tax increment Reinvcstrnent zone Number Tbirtelen,
City Of Fort Worth,Texas
AND U IS SO .1
ADOPTED AND EFFECTIVE:November.21,
APPROVED AS TO FORM AND LEGALITYP
B
.... S14--A. 11
am Gl�
Assistant City Ae
Date: Nod 27 2007
C G-15982
Page
Ordbance D sli `n Ta.,increment Rives nic Number Thirleu,
City o Fort
"A
DESCRIEPTION DEPICTION OF THE ZONE,
The a
N
cts to be designated as Tax I.cr mmt Reinvestm=t Zone Number Thirteen, City
of Fort Wortb, Texas for tax 'increment
Dse are depicted the
aocompanymg map and are morc pardcularly desciibed by the followmg mks and
bounds.'-
PoU eal Su lion Desenpt on of Proposed TIF 13 (Woodhaven)
A trot ofland out of the,the W.J.Baker Spey,Abstract Number; 1,the J.Brockman
Survey,Abstract Number 102,the N.'Burton Survey,Abstract Numbcr 244, the J. H.
Connor Survey,Abstract N er 285,the P.E.Coltmw Survey,Abstrixt Number 372,
the D. M.Helms S ey,Abstract Number er 9 2,E. Jones Survey,Abstract'Number 841
the H.P.Largent Survey,Abstract Number 960, the Survey, t
Number 995,the George Main Survey,Abstract Nurnber 1097,the J.F.Reeding Survey,
Abstract'Number erw 13 2,the W.R.Reeder Survey,,Abp str t Number 1303,,the R.
Robm" on S' ,Abstract Number 15,the W. W. Ray Spey,Abstract Number
3 5 3 the E, G.B.Williams S ,Abstract Number 1669,the W.Trimble Surv6y,
Abstract Number 1521 and the R.Taylor Survey,, b t Number 1561.-
BEGUiNING at the,Mars on of the west Une of said Janes Survey with the north
n t-of-war of Interstate way 3
THENCE with 'd st I ffie,,North,to and aloiag the west Ime of said Brockman Survey,
some 3430 feet,to the center1ine.of Old Randol Mill Road-,
THENCE with said centerl e,S 8 de 3 es u some 450 f to its
int emon with the wet e of that i tract of land des "bed by deed recorded
Volume 9236,Page 157,Deed Records,T ant County, Texas;
TBENcE with sm%d Imo,North, some 260 feet to its northwest comer.
THENCE w the no of said tac4 So 30 minutes East some 560
feet to a southeast comer of that gain tract of land descr be,d by deed recorded
Volume 12871,Page 510 Deed Records,Tarrant County,
TIMNCE with the east line of sm'd trszt North,some 410 feet,,to the south bank of the
West Fork of the' `r.m"ty River-,
THENCE Wfth said south b Northeasterly so a 228 0 feet,to the
t ' tract of land descn bed by deed recorded Volume 8938,Page 466,Deed
Records,Tarrant Co �, Tex
Ordinance Design itting Tax rn=mant Reinvestment;done Number Eleven,
City Of Fort WOE"texas
TIMNCE with the north line of sm"d tract North 72 degrees 3O minutes East some 560
feet,to-ffie west line of saiA Reeding Survey;
ITfMNCE va"th sm*d line, South,some 200 feet to its interseadon,with the northwesterly
Im* e of that certain tract,of la4 known as Tract 2L out of said Reeding Smvey,described
by,deed rer.,OTded m' 'col urne 16775,Page 13 3, Records, Tan-ant County,Texas;
THENCE with sm'd line and the northeasterly line.,of:said Nor ffizasterye,and
Southeasterly, some 740 feet to 1he north comer of Lot I Bi,Block 100,Riverbend
Estates;
THENCE with the west and south Imes,of said Loot,so 70 feet;to said northeasterly
Ike of said Tract 2L;
THENCE vn*th sm"d line,Southeasterly, so=940 feet,to the south fight-of-way of Forest
River Drive,
THENCE Wl"th said Hght-of-way,North 55 degrees 310 minirtes,Eat, some 610 feet,to its
inter smtion with the West line of Lot 5, ock 1,Riverchase,Addifion;
TIMNCE with sw*d line,Southeasterly,",some 490 feet to the,nortbwest corner of Block
25 of'Woodhaven Country Club Estates;
THENCE With the west line of said Block, Southerly,sorae 1,280 feeI6 to the northwest
0
comer of Lot I UR Woodhaven Golfs''"
THENCE with the west ae of said Woodhaven Golf ViJlas, Southerly and Easterly,
sorne 3 010 feet,to the west fight-of-way of Putter Drive-,
THENCE with said rigbt-of-way, South,some 40 feet,to the most east northeast comer
Of Lot 'I S
THENCE with the west line of s Woodhaven Golf Villas,Southerly and Easterly,
some 5,90 feet,to,the southwesterly n ght-of-way of Putter Dn*ves,
THENCE with said fight-of-way, South 20 degrees East,some 10 feet,to the most north
comer of Lot I No
THENCE va"th the we south and east lines of&%*d Woodhaven Golf Villas, Southerly
EasteTly and Northerly,some 860 fe4 to the south fight-of-way of Oakmont Ime;
THENCE with said right-of-way,Swath 79 degrees East,some 70 feet, and South 88
degrees 3 0 minutes East,some I 10 feet,to the most northwest corner of Block 20 of
Woodhaven Country Club,]Estates,;
Ordinanct Degignating Tax In meat Reinvestment Zone Number Eleven,
City,of Fort Worth,Tmw
=CE with the west line of said Block,Southerly,to and on the north,west and
south lines of Block 1,of Havenwood,Golf Villas,and to and,along the east line of said
Block 20, some 2200 feet,to the southwest fight-of-way of Oakmont Lane;
THENCE With said n'ght-of-wayl. South 30 degrees East, some 50 feet,and South 21
degmes 30 ninutes E;ast, some 90 feet,and South 13, degrees East,some 30 feet,to the
most northeast comer of Block 9,Woodhaven Country Club,Estates;
TTIENCE)vith the.most north,west and no line of said Block,West, Southerly, and
West,some 2000 feet, to its intersection with a line 1.0 feet northeasterly of the
southwesterly right-of-way of Country Club Lane;
TBENCE with said line,Northwesterly,,,some 900 feet,,to its intersection vn'th the north
I="� ,of Lot 3 ,Block 6,Woodhaven Country Club Estates-, I
T E to and along a north,a west, and a southwesterly line of sm*d Block,West,
South,and Southeasterly, some 500 feet,to Jts inUrsectione with the soathwesterly right-
of Country Club Lane-I
THENCE with the southwesterly n*ght-olf-way of Coimtty Club Lana, South 38 degreea
East some 140 feet,,to the noitheast comer of Lot 283 of said Block 6;
3•THENCE with the a north,most west and most south]m* e of'said Block,West, Southerly,
and FA4 cxossm' g coral Drive,and,to faid along the southlm' e of Block 7,crossing
Country Club Lane, to and along the south and,southeast Ii-ne of Block 8,cxossm* g
Oakland HEls Dn"ve,aad to and along the southeast and north line of Block 10, some
7400,feed to its intersection with the northeast rig f"w y of Oalanont Lane;
ITIENCE with said right-of-way,North 15 degrees 30 minates West,some 10,0 feet,to
the southeast corner of Block 22;
THENCE With the ea,9t,north,west IM^ e of said Block,North, West, and South, some
5500 feet,to 'its intersection with the north fight-of-way of 0 Lane-,
THENCE with said,fight-of-way,North 15 degrees 30,MM" Utes West some 100 feet,to
the south comma of Block 23;
THENCE with the east,and northeast line of said Block,North,and Northwest some
1100 feet,to its intersection with the east fight-of-way of Oakmont,Lane;
MESCE with sw"d night�f-way,North 8 degr=s West,some 215feet,to the,west
comer of that certain,tract of land described by deed recorded m" Volume 1,47 72,Page
526,Deed Records, Taxrant County,Texas,-,
Ord in ce Dew gnatin a Tax In cromont Rtinvotment zone NumboT Eleven,
City of Fort Worth,Trxas
THENCE with the south line.of sm"d tracts South 73 degrees 30 * s East, some 80
feet, and South 82 degrees&,st, some 110 feet,and South'I degrees East,, some 100 feet.
to its intersection with the south I' of Block.1,Ri erchase Addition;
TBENCE with ffie southeast line of said Block,North 68 degrees East, some 690
and North 32 degrees East,some 550 met,to its intersection with the south n' t-of-way
of Randol Mill Ro4-
THENCE with sfu*d fight-of-way,,No 69,degees 30 minutes East,some 5 70 feet to
the northwest comer of Block 16.-
THENCE VVith the southwest line of said Block, Southeast,some 2000 feet to its
intersection with the north n*ght-of-way of Chops Drive,
THENCE with said n'ght-of-way,North 86 degrees Eat some 250 fbet,to the southeast
comeTof Lot 45 M Block 16-
V
TEENCE with an east,no and south line of said B North,West,and East,some
2400,feet,to the southeast comer of Lot 3 0 M" Block 16;
Thence with the east line of said Lot,No 3 degrees,30 minutes Eas4 some 120 feet to
vem
its interseefion with the south nght-of-way,of Cho I I
No 84 degrees 3 0 minutes East some 20 feed to the northwest comer of Lot 29 M
Block 16-
1
Thence with the west I m* e of said Lot,South Z degrees West,some 13 0 feet,to its
southwest comer-,
THENCE with a south,west,north, west and south line of said Block,Ea South, West,
South and East,some 3200 feet,to its,intersection,with the,west fight-of-way of Ifigh
Woods Traih
I
THENCE va-th,sad n"ght-of-way, South, some 3 00 feet,to its intersection with the west
nght-,of-way of Boca Raton Boulevard;
THENCE with said tight-of-way, Wesw, som,e780 feet to its intersection with the
southwest line of Block 2,9,-
THENCE with sm*d line,S outheastaly,some 23 00 feet to the south comer of the ri ght-
of-way of High Woods Trail-,
, 1*
ITIENCE with the southeast une of said right-of-way,to and along southeast line of
Block 27,Northeasterly,some 440 feet,to its intersection with the west fight-of-way of
TXU Electric Delivery Company-
I
Ordinanco Designating T t key estmen's Zone NumbeT Eleym.
City of Fort Worth,Texas
THENCE vvith said fight-of-way,North,some 23801 and North 4 degrees 30 es
West, some 1190 feet,to its intersection with the south line of Block 19-
THENCE with said line,South 97 degrees West,some 340 feet, and South 70 degrees
West some 290 feet.,to its intersection with the east right-of-way of High'Woods Trail,
THENCE with 91 right-of-way,North,crowing Randol Mill Road, and to and on the
east right-of-way of River bend Estates Drive,some 1060 ftet,to its intersection with the
north right-of-way of TXU Electric Delivery Company;
THEN C]�,with sEd d right-of-way, South 8 8 degrees East,some 790 feet,and North 4
degrees 3 �"nutes West,some 8 10!feet,to,the no I ine of said Reeding Survey;
THENCE with said line,East some 205 fee�,to its intersection with the,east TXU
Electric Delivery Corapany-,
THENCE with said n"ight-of-way,North 4 degrees 3 0 minutes West, some 9810 feet,to the
no bank,of the West Fork of the Trinity River;
'THENCE with.,sm*d no b Fmterly some 3 100 feet,to "Its intersection with ffie west
t- way of Interstate Highway Loop 820 East-
=CE with s right-of-way,South,some 70!001 feet to its iixtersect`on with the north
right-of-way of Interstate 1i why 30;
THENCE with std n'ght-of-way,West, some 10,400 feet,to the Place of Be 9,and
containing some 1120,acres of la4 moire,or,less.
Rearing Base and Mistances,por City of Fort Woi Graphic Information System.
This description prepared by Homs KeAn Hansen,Registered ProfosSioUE11 1ADd SUrVeyor,Number 4786.1
in September 20017.
"Tbis document was prepared under 22 TAC§663.21,does not reflect the results of an on the ground
survey,,and is not to be usod'to convey or estmblish ftihmwts Mi real jw,opcqi except those,right's or interests
implied or established by The creation or reconfigmate of the bounduy of 1he political subdivision for
wbicb it was preparecL"
Oirdinanice Dieslignfiting Tax ln=mmt ReiTivestment ZoTir-Number Elov=,1
City of Fort Wort14 Texas
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EXHMIT"'B"'
PROJECT FINANCINGPLAN
Tax Increment Reinvestment Zone Number Thirteen,
City of Fort Worth, Texas
(Woodhaven TIF)
Project Plan and Financing Plan
Prepared for
The City of Fort Worth
May 2408
1
go"
'rax Increment Re* vestment Zone Number Thl'toteen,
City of Fort Worth, Texas
(Woodhaven TIF)
Project Plan and Fi none w" g Plan
Table of Contents
1. Tax Increment Financiffig Overview......... nor raw a ago as a am as*am.a am**so#a so moo or ago.l a ass.,as room am*Aso&so*...3
11. The Project Pl=.... loans Oml$0041MASONAl**J#oOJ*m qa0%oVmVamxV*mmlml*5
A. Descn*pfion of the Zone.... .......
a
is Map of Boundary.....,,0lb,, 6*0900044*0 sea Oki**lose miamelftom Rear Rows4nowasm a 00044,a 640a*7
'a a
11. Legal Desc6ption........*4 Rollo f0s4A#"so 6414610 9 am Ylass$Am arm as*&&P 0 4600,*Now**0 of as swell0"0 a* so molmoomm 4 rong
off
Map of Existm' g Uses..0.&.4 0 a a 00 a moo 0.010&sb 16404 04 440 0#*4*&a 6 war a w.mi we to sow.,*a am a a *sows***a oil a*a,*a sow we a am a .a 15
Iva Map of Property Values.10....$4*V******4l 040,0488016moovasow*I***4l a's mows momool##6..*****A moo"1.a Asql&*o 17
B. Proposed Changes to Current Ordinances and Codes ........... 19
C. Estimated Non-sprojoct Costs.'. a 0090*8 Manor son,a***&Al Otoo$Ovale***am&&&m&*m*go pow 19
Do Method of Relocating,Displaced Persons.....A ...............*04**Worm worm Sao$Mon a 66&A44 60"0,19
a
III. The Financmg Pl=........1%am**al■o0l"6440440 ONO"@****go normal"MOWS'A a o4aaa,wo a a a oil a a***a moll a*60.64*#64l a a.*... a.*a.move 4410400420
A. Economi'c FeasIN'liky of the Zone.a oloway 04 MAN In aware Salomon 4 an*.W*9 0910006mlo mom*w all*orms am am*go m**241114 42$l 40,04,60ol 0 021
B. Proposed Projects and Improvements 606044 W.# aa3
C. Revenue Projections -.0low"ot a 004 6 0004 oloomm 0 smoolon a a el AAmsboAs a 66 as,a no om"w"0441..04-0-OWASONS009 9 4424
0
a
IV. Summary of Project Costs and Financing...... 0 068040,2400000 400no 4
419
V. Tables.........I*I V006400*4 000moom##SOON$vow**room*****a**%A&SA so**#*a 6404.##4.a 4a ago.*a Sam 010,0l So so owl'Al 44 Al room 40 proollooloo arm.1*28
I. TAX INCREMENT FIPIANCING OVERVIEW
3
L TAX INCREMENT FINANCING OVERVIEW
') is
Tax increment financing ("11F" ' a tool Texas local governments use to firiance public
improvements within, a defined area. These improvements are intended to promote
development or redevelopment 'in the defined area and surrounding areas. The *
primary
statute goverruffig 'tax 'increment fmancing is codified *in Chapter 3 11 of the Texas Tax Code
0
(the ",Tax Code"). Chapter 311 'is often refemed to as the Tax Increment Fm* ancing Act and
q to
it allows, munici al ties to create ""reinvestment zones" within which van*ous puni1c,
IP
prove guts,can be undertaken.
0
A mumcipality makes an area eligible for, tax 'increment financing by designating a
reinvestment zone. Essentially, for the City to huft iate the designation of an area as a
# 0
reinvestment zone, the area must 1) subsitantiahy arrest or 'impair the sound growth of'the
municipality creating the zone, retard the provision of housm" g, accommodations., or
a Ai
constitute an economic or soclai liability and be a menace to the public healtb, safety,
morals, or welfare M* 'its present condition; or 2) be predominately open and, because of
0 It a 0,
'bsolete platting, deten 1 improvements, or other factors,
o oration of structure or site
substantially impair or arrest the sound growth of the muluci peal ity-, or 3i) be in a federally
assisted new community loca tee,in the mmcipality or adjacent,to such propertyO,
At the time an area is designated a reinvestment zone for tax 'increment financing, the
existing total, appraised value of real property in the zone is identified and designated as the
"base value."' All taxing its that levy taxes *in the zone during the life of the TIF Will
continue,to receive the tax revenues derived from the"base value,-"
As new development 'is added to the wx rolls, wi ea, totW assessed valuations
nit
se. This fie m"' new value s measured annually and is called the "captured appral-sed"
j I
value". The taxes that are collected by the participating taxm- g urisdictions on the
& 0
incremental increase between the original "b�ase value" and the current year's "captured
appraised value" is the 'Itax *increment"'., Each taxing unit choosing to participate 'in the TIF
4%
Will agree to deposit a portion or all of the taxes generated from the "tax incremene� into a
0,
TIF fund administered by a TW'B,o,ard that 'is appointed by the focal taxig units.
The TIF Board uses the tax 'increment to make public im prow emend 'in the area to attract
private development that would not otherwise occur or that may not occur, until at a much
at date. Additionally, the Board may enter into development agreements to
participate n new development or redevelopment.
The TIF District ends on the earlier of 1,) the termination date contained M' the ordinance
establishing the zone or 2) the date on which all project cost have been paid "'in full. Any
10 * a
revenues rem aming m the TIF fund after the dissolution of the are retumed pro rata to
each participating taxing unit.
4
H. THE PROJECT
PLAN
11* THE PROJECT PLAN
In 2005, the City of Fort Worth selected Gideon Toal to prepare a neighborhood
redevelopment plan to undergo a comprehensive study, analysis and action. plan of the
Woodhaven area 'in east Fort Worth. Almost twenty years of escalating crime and stagnant
property values, along with increasing poverty levels were part of' them petus to initiate
pokey, pl, and redevelopments efforts for this area. In general, the 17 Plans
contemplate that prospective developers of properties Within the TV may fund portions, of
a d% 0 4,10 E #."
public inm,structure associated with development opportunities by uti izin imancial support
from the TIF Board through development agreements, that provide for reimbursement of
eligible expenses, for these developments. It is also antici IP ated that the TIF Board may
undertake certain puDiic ffnprovement proj'ecU once sumcient tax increment is available M"
an effort to finther enhance the area, thereby making it more attractive to new development
and redevelopment.
The Woodhaven represents an important opportunity to support viable economic
redevelopment 'in east Fort Worth- Much of the area encompassed by the TIF has been in a
general state, of econolm"c decline with very little new private investment taking place in the
past twenty years. In order to support new and denser development M the future, some of
the basic infrastructure in the area must be upgraded because much of the existing streets,
water, sewer, and drainage systems were constructed severai decades ago.
A. DESCRIPTION OF THE PROPOSED ZOiNE
The Woodhaven TIF 'is located in east Fort Worth and encompasses approximately 1,100
acres of property that is bounded by Willow Ridge Road on the westernmost boundary,
Interstate Highway 30 on the lout henunost boundary, Interstate Mgbway Loop 820 on the
caste mmost boundary, and roughly follows the, Trinity River at its northernmost boundary.
This, area includes intersections such as Woodhaven Blvd. and Boca Raton, and Bridge
Street and Boca Raton as they intersect Loop 820.
A map of the boundary and the legal description of the Woodhaven TIF are contam'* ed on the
follow"mg pages as well as maps of the current zonm* g and property values.
6
i. MAP OF THE 113OUN]vj-%'A-nx7
MAP F THE BOUNDARY
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ii. LEGAL DESCRIPTION OF' THIE TIF
9
*a
U. LEGAL SCR. ION OF TIF
Political Subdivision Desen'plion of T I 13(Woodhaven)
A tract of land out of the,the W.J.Baker Survey,Abstract Number 10 1,the J. Brockman Survey,
Abstract Number 102,the N. Burton Survey,Abstract Number 244, -the J.H, Connor Survey,
Abstract Number 285,the P.E. Coleman Survey, Abstract Number 3 2,the D. M.Helms Survey,
Abstract Number 812,E.Jones Survey,AbstractNumleer 841,the H.P. Largent Survey,Abstract
Number 960, the William. Mann Survey,Abstract Number 995,the George in Survey,Abstract
Number 1 O97, the J.F. Reedffig Survey,Abstract Number 13 O�2,the W. R.Reeder Survey,Abstract
Number 1303,the R.,Robinson Survey,Abstract Number 1315,the W. W. Ray Survey,Abstract
Number 1353,the E. G. B. Williams Survey,Abstract Number 1669,the W. Trimble Survey,
Abstract Number 1521,and the R.Taylor Survey,Abstract Number 156 1-9
BEGINNING at the 'Intersection of the west Im' e of sm"d Jones Survey with the no n"ght-of-way of
Interstate Highway 30;
THENCE with said west line,North,to and along the west line of said Brockman Survey, some
3430,feet to the centerlm* e of Old Randot Mill Road;
THENCE With said ccnterline, South,84 degrees 30 minutes East some 450 feet to its intersection
w ith the west of that certain tract of land described by deed recorded M" Volume 9236,Page 157,
I me I
Deed Records,Tarrant County, Texas,-
THENCE Frith said line,North, some 260 feet to its northwest corner:
THENCE with the north line of said tract, South 86 de es 30 minutes East,some 560 feet,to the
al
southeast corner of that certain trait of land described by deed recorded m Volume 1287 1,Page 510,
Deed Records,Tarrant County,Texas;
I
THENCE with the east line of said tract,North, some 4,10 feet,to the south bank of the West Fork of
the Trinity River;
TEENCE with said south bank,Northeasterly some 2280 feet,to the northwest comer of that certain
tract of land described by deed recorded in Volume 8938,Page 466,Deed Records, Tarrant County,
Texas;
THENCE with the north line of said tract,Nosh "72 degrees 30 minutes,East, some 560 feet,to the
west line of said Reeding Survey-
9
UiENCE with said line, South,some 2 feet to its intersection with the northwesterly line,of that
certam tract of land, known as Tract 21 out of said Reeding Survey,described by deed recorded
Volume, 16775,Page 133,Deed Records, Tan-ant County,Texas-,
TBENCE with said line and the northeasterly line of said tract,Northeasterly, and Southeasterly,
some 740 feet,to the north corner of Lot I B, Block 100,Riverbend Estates;
10
THENCE with the west and south lines of said Lot,some 470 feet, to said northeasterly line of said
Tract 2L
THENCE with said line, Southeasterly,some 940 feet,to the south n*ght-of-way of Forest River
Drive,,
THENCE with said rig ht_of-way,North 55 degrees 30 mutes East, some 610 feet,to its
0
intersection with the west bne of Lot 5,Block 1,Riverchase,addition,,
THENCE with said line, Southeasterly, some 490 feet,to the northwest comer of Block 25 of
Woodhaven Country Club Estates;
THENCE with the west line of said Block, Southerly,some 1280 feet,to the northwest comer of Lot,
I UR Woodhaven Golf'Villas;
THENCE with the west line of said Woodhaven if Villas, Southerly and Easterly, some 300 feet,
nves
to the west n"ght-of-way of Putter D * P
THE SCE with said 6ght-of-way, South, some 40 feet,to the most east northeast corner,of Lot I S;
9
THENCE with the west line of said Woodhaven Golf Vi'llas, Southerly and Easterly, some 590 feet,
to to southwesterly fight-of-way of Putter Drive;
THENCE with said right-of-way, South 20 degrees East,some 10 feet,to the most no comer of'
Lot 1N;
1p
THENCE with the west, south and east lines of said Woodhaven Golf Villas, Southerly Easterly and
Northerly, some 860 feet,to the south right-of-way of Oakmont Lane-,
MENCE with said right-of-way, South 79 degrees East.,some 70 feet,and South 88 degrees 30,
minutes East,some U 0 feet to the most northwest comer of Block 20 of Woodhaven Country Club
Estates;
'I.TIENCE with the west line of said Block, Southerly,to and along the north,,west and south lines of
Block 1,, of Havenw,00d Golf Villas, and to and along the east line of said Block 20, some 2200 feet,
to the southwest right-of-way of Oakniont Lane;
THENCE,with said ri'ght-of-way, South 30 degrees East, some 50 feet,and South 21 degrees 3O
minutes East,some 90 feet,and South 13 degrees East,some,3 feet,to the most northeast corner of
Block 9,,Woodhaven Country Club Estates';
THENCF,with the most north,west and no line ofsaid Block, West,Southerly,,and West, some
2000 feet, to its intersection with a line 1.0 feet northeasterly of the southwesterly fight-of-way of
Country,Club Lane-
0
THENCE with said lie,Northwesterly, some 900 feet,to its intersection with the north I'me of Lot
39 Block 6,Woodhaven Co Club Estates-,
THENCE to and along a north,a west and-a southwesterly I' of said toe Wes South me 13 k, t an
Southeasterly, some 500 feet,to its m" tersecLion with the southwesterly right-of-way of Country Club
Lane-,
TT CE With the southwesterly ri'ght-of-way of Co Club Lane, South 38 degrees E some
140 feet,to the northeast comer of Lot 28, of said Block 6;
THENCE with the a north,most west and most south line of said Block, West, Southerly,and East,
c ssi* Dural Dzive,and to and along the south I M* C of Block 7,crossing Country Club Lane,and to
rong
and along the south and southeast 1M*' ,e of Block 8 crossing Oakland Hills Drive,and to and along
the southeast and north Iffie of Block 10, some 7400 feet to 'its intersection With the northeast ri ight-
of-way of Oakmont Lane;
.0
TBENCE with,said aright- gray, 15 degrees 3 0 mm* utes West,some 100 feet,to the southeast
comer of Block 22,-
p
TUENCE With the east,north,west I"' e of said Block,,,North,,West,and South, some 5500 feet,to
its intersection,With the no right-of-way of Oakmont Lane,
THENCE with sad right-of-way,North 15 degrees 3,0 minutes West, some 100 feet,to the south
comer of Block 2,3-1
THENCE with the east,and northeast line of said Block,North, and Northwest, some 1100 feet,to
its intersection with the east right-of-way of Oakmont Lane;
71
THENCE With said n*ght-of-way,North 8 degrees West,some 215 feet,to the west comer of that
certain tract of land described by deed recorded 'in Volume 14772,Page 526,Decd Records,Tarrant
County,Texas.-
THENCE with the south line of said tract, South 73 degrees 30 minutes East, some 80 feA and
South 82 degrees East, some 11 feet,and South 1 degrees East,some 100 feet,to its intersection
the,south I"me ,Riverchase Addition.,
i of Block I
THENCE,With tho southeast line of said Block,North 68 degrees East,.,some 690 feet,and North 32
degrees East, some 550,feet to 'lots intersection,with the south right-of-way of Randol Mill Road-
THENCE with said right-of-way,North 69 degrees 30 minutes East, some 5`70 f to the northwest
comer of Block 16-,,
THENCE wimth the southwest line of said Block, Southeast, some 2000 feetto its intersection wan
the north right-of-way of Cholla Drive;
TBENCE with said right-of-way,North 86 degrees East,some 250 feet,to the southeast comer of
Lot 45 M" Block 16-2
THENCE mn'th an east,no. south IM" e of'said.Block,North, West,....and East, some 2400 feet,
to the southeast comer of Lot 30 in Block 161;
12
r*01" 10
4 1 nenc,e with the east I ine of said Lot,North 3 degrees 30 minutes East,some 120 feet,to its
intersection with the south n*ght-of-way of Chops Drive,
North 84 degrees 30 M'mutes East, some 20 feet,to the northwest corner of Lot 29 in Block 16.
It
Thence with the west little of said Lot,, South 2 degrees West, some 130 feet, to its southwest comer;
T7AENCE with a south west,north,west and south line of said Block,East,South, West, South and
3 1
East,some 3200 feet, to its" intersection with the west right-of-way of Mgh Woods Trail,,,
THENCE,with salod right-of-way, South,, sorne 3,00 feet,to its intersection with the west right-of-way
of Boca Raton Boulevard.-
THENCE with said right-of-way, West,some780 feet,to its intersection with the southwest line of
Block 29.-
THENCE vn*th,said I'me, Southeasterly,some 23 00 feet,to the south comer of the right-of-way of
High Woods Trail;
THENCE with the southeast line of said n', ht-of-way,to and along southeast line of Block 27,,
Northeasterly,some 440 feet,to its intersection with the west right-of-way of TXU Electric Defivery,
Company;
EiENCE with said right-of-way,North,some 2380 feet,and North 4 degrees 30 minutes West,
some 1190 feet,to its 'Intersection with the south I"me of Block 19*,
THENCE wl"th said line, South 87 degrees West,some 340 feet,andSouth 70 degrees West, some
290 feet,to its intersection with the east ri-ght�of-way of High Woods Trail"
I
TBENCE with said right-of-way,North,crossing Randol Mill Road,and to and along the east,right.-
of-way of Rlver�bend Estates Drive,, some 1060 feet,to its Intersection with the north right-of-way of
0
TXU Electric Delivery Company,,
THENCE with said right-of-way, South 88 degrees East, some 790 feet,and North 4 degrees 30
0' d M 10
mmutes West,some 8,10 feet,,to the north line of sai Reed' g Survey-
ITIENCE with said Im" e,East, some 205 feet,to 'Its Intersection with the east TXU Electric Delivery
Company;
T11-ffiNCE with said neght-of-way,North 4 degrees 30 minutes West some 980 feet,to the north bank
of'the,West For of the Trinity River;
O
THENCE with said north bank Easterly some 3 100 feet,to its ffitersection with the west n t-+
way of Interstate Highway Loop 820 East-,
THENCE with said right-of-way, South, some 7000 feet,to its intersection With the no right-of-
way of Interstate Highway 30a
13
THENCE,with said n*ght-of-way,West,some 1 O,400 feed to the e of Begffining,and containing
some 1120 acres of land,more or less.,
Bearing Base and Distances,per City of For Worth,Oraphic information System.
This description prepared by Hans Kevin Hansen,Registered Professional Land Surveyor,Number 4786,"in September
2007.
"'ThL"S document was prepared and-er 22 TAC§66311,does not reflect the results of an on the ground survey,and i's not
to be used to convey ores tablish interests in property except those rights or fiftrests implied or estahl d by the
creation or reconfiguration of the boundary of the political subdivision for which it was prepared."
14
iii. MAP U"T EXISTING USES
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iv. MAP, OF PROPERTY VALUES
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PROPOSED CHANGES TO CURRFNT ORDINANCES AND CODES
There are gently no propose.changes t zo o ce codes,n y other
4 .
c p ordinances relating to the that would,affect.the anticipated implementation of
the Plans by the Board.
C. ESTIMATED NON-PROJECT COSTS
Nion-proj I ect costs are not expected to a n ed m.th�the
D. METHOD OF RELOCATING DISPLA ED PARSONS
No person shall be displaced as a result of implementing the Plans.
19
III. THE FINANCING PLAN
20
III. THE FINANCING PLAN
A* ECONOMIC, FEASIBILITY OF THE ZONE
1. Increased Tax Base
0
The followi i
gig economc impact analysis is based on anticipated development plans within
the proposed TIF district and the opportunities that exist to capture tax 'increment due to a
significant number of low appraised values M the area.
The success of any Zone is predicated on the m' crease in value of the appraised real
prop that tax icrement may, be captured. This tax - crement can 'then be used to
make iriftastructure uriprolvements m' an effort to aftract new growth and "in this particular
case, promote redevelopment opportunities. With that M" mind, initiatm* g this TEF Zone MM,
20,07 is important since private investment activity is CUITently evident in flae area.
Specifically, some modest commercial development and some additional, available parcels,
flud front Interstate Highway 30 and Interstate: Highway Loop 820 can serve as catalysts that
both M" 'itiate the redevelopment of the area and help ensure the success of the 'Zone in the
early years. Additionally, the former Oak Hollow and Villa, del Rio apartments that were
recently purchased by the City of Fort Worth are prime areas within the heart of the
neighborhood that have the opportunity, to be redeveloped into more attractive properties
with the assistance of this through street scape enhancements and other permissible
assistance,
is
With the designation of the TIF, it 'is antic' ated that the area within and surrounding the TIF
IP
Will experience certam increases in value as the project =" provements are completed.,
Potential development is, explected to ' elude commercial,, retailt restaurants, ent&rtainment
and residential uses. These new developments should have a substantial impact on the
overall increase in taxable real property within the Zone ically found 'in other parts
of Fort Worth, because of the extent blighted properties and depressed existing values in
the area. With, regard to the revenue projections that have been developed for this plan, a
two percent,annual growth rate has been utilized,which is conservative and suggests an even
greater opportunity for the success of the TIF Zone,
R .I
It Is estimated that the area M' the Zone will experience development during the 20-year
period 'in which the TUF Zone is m place with the potential for TIF m' crement to, generate
approximately $117 million 'if all taxing entities choose to partici ip late b % -
100% of their tax fficrement'. (The College District has, a 50% m participation
A'
policy.) Although prohibited fro 4 i
ting n the TIF, it 'is antic'p ated that the Fort
Worth Independent School District could receive almost $20 million in tax revenue over the
20-year period.
21
Iq Increased Retail and Commercial Busm' ess,
Based on current land uses, and potential 'investment, -the TIF will develop with
approximately 140 acres of-the developable area, becoming new or redeveloped reWl and
commercial business.
iii. Employment Opportunities
In addition to the jobs created during,construction of the project improvements, it is expected
that the fuhre development of the Zone resulting goon the private project i-mprovements,will
generate,a wide van*ety of additional employment opportunities.
22
B* PROPOSED PROJECTS AND IMPROVEMENTS
Redevelopment within the Woodhaven Tom' will consist of a combination of public
fro emend and private investment',projects over time. These ftn prove ments wifl provide
a "foundation for development! to encourage and support the long-term public new of the
neighborhood and to secure nuxed-u se econonn"o growth opportunities M` the Woodhaven
area.
1. Initial Improvements
The initial improvements mprovements contemplated in the Woodhaven TIF include public infrastructure
(e.g. water, sewer, drainage,: roads, sidewalks, etc) associated with mixed-use development,,
In addition, demolition, environmental remediation, and all expenses allowable under the
Tax Increment Firm cing Act are contemplated as needed for areas within the TTF Zone.
The improvements undertaken by the TY wifl 'include, but not be limited to the projects
listed below,:
Corridor Improvements— Street, traffic, utility, drainage and other public M" fi-astructure
V
projects,Within the TIF boundaries.
Public Infrastructure such as water, sewer, drainage, roads, sidewalks, etc. and
demolnion costs associated With the fofiowmg potential projects:
o Renovation of two old strip centers along Woodhaven and Boca Raton
lo New construction at site of former aparftnents along Boca Raton and
Olakdand Hills
A
Gateway Enhancements - Street, traffic, utility, drainage and other,public int"rastructure
a
projects at the gateways of the along Woodhaven Blvd., Randol Mill Road, Boca
Raton and Bridge Street.
Adm*m' istrative Expenses
11. Future Improvements
n.cre are no futare projects contemplated during the to of the TIF., However, the City
a
prof Council reserves the right to consider,amendments to the project plan if subsequent,projects
a 0
a identified by the TIF Board as appropriate and eligible for tax mcrement funding.
re 1 1
23,
C. TAX INCREMENT REVENUE PROJECTIONS
1. Bonded Indebtedness
No bonded indebtedness *is expected,to be m- curred with respect to any of the project
a
unprovements,
as
11,11 Projection of Revenues
Ms section outlines,the es Zone tax increment. The Zone taxincrement will depend
on many factors, icluding (a)the base value of real property 'in the Zone subject to property
(b) captured appraised value, (c) annual growth of the Zone's taxable real property
(which largely depends, on private growth within the Zone) (d)participation by tax units- (e)
tax rates; (f) collection rates; and(g) the term of the Zone. Each of these factors is discussed
in turn,
(a) Taxable Avorm'sed Value for 2007 Base Value). Table I sets forth the
to taxable 9 sed value of property * the Zone (estimated to be $192 tn'll" % I is 1 0
appral in i ion),, wlucn
anticipated tobe the Zone's base value.
11 A(b) CApturw p praised Value, Table 1 sets forth the estimated total appraised
value of property "in the Zone over the life of the TIF (estimated to be, approximately $281
mil Ilion m' year 2027).
(c) Ex ted Annual Growth ofthe Zone"s Taxable Real Prop The lesta" nated
captured appraised value(thus reflecting estimated growth of real property taxable values)of
the Zone for each year of its existence and the estimated tax increment to be generated
annually
in total and from each taxing entity is outlined on Table 1.
(d) Participation by Tax Units, Although each taxm" g entity has not agreed to a
s
sic I 1P
pec, ic level of part*c* ation, the fmanc*al projections set forth in the Plans antic'Pates that
the City of Fort Worth and Tarrant Regional Water District will partici ip ate by contributing,
one hundred percent (100%) of their tax 'increment with respect to the Zone, and anticipates
I a
Tarrant County, and Tarrant County Hospital District contributing at eighty percent (80%,),
a
and Tarrant County College contributing fifty percent (50%1) of their tax mcrement with
respect to the Zone.
(e) Projected Tax Rates, Property tax rates we assumed to 'renaa constant.,
(f) Pro ted Collection Rates. The Plans s' es a one hundred percent
W
collection rae by all entities at their respect,ive level of participation.
24
(g) Term of the Zone. The tenn of the one will be 21 years, expm' '"ng on
December 31, 20,28, beginni'ngi with that Zone tax m" crenient generated by the 20018 tax
appraisal and ending with that Zone tax increment generated by the 2012?tax appraisal,
8
96
M. Estimated Payment,of Project Costs
Based on the assumption s. and estimates set forth M,the information above,, it 'i's expected that
the Zone tax increment will be sutricient to pay in full all project costs(inc,luding interest).
25'
IV. SUMMARY OF PROJECT COSTS
AND FINANCING
26
IV. SUNMARY OF PROJECT COSTS AND MANCING
A. Anticipated TIF Projects
Corridor Improvements $i 61000,0100
to
Pubfic Infrastructure/demolition associated
o Renovation ofstrip centers along Woodhaven and Boca Raton $1 2,000,000
01 New construction at site of fortner apartments along Boca
Raton and Oakland Hills 3�)00%0100
Gateway Enhancements 2,10001000
Administrative Expenses, 5+ 000
TOTAL PROJECT COSTS $131500
B. typed TIF Revenues
City of Fort Worth $ 11,18093
Tarrant C 2,7875885
Tarrant County Hospital is ct 21410,207
Tarrant County College District, $ 911,293
Tarrant Regional Water 26 l 2
TOTAL REVENUE $179551�220
*' Project costs assume interest associated ated th reimbiinement for public 'improvements.
V. TABLES
28
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TARRANT COUNTY RESOLUTION OF PARTICIPATION
� ,111IMil�
RENuLUTVO�N
PARTICIPATION OF TARRANT COUNTY HOSPITA DISTRICT
IN CITY OF FORT WORTH, TAX INCREMENT FINANCING
REINVESTMENT ZONE #13 -WOOH VAN TIF
WHEREAS,the general laws of"the State of Texas authorize Bove ental taxing entities to
join etcher tax-Ing tax-In Jurisdictions in the establ,isluiient and funding of a reinvestment zone under the Tax
Increment Financing, Act, Chapter 311 of the Texas Tax Goes (the "Act"),to provide incentive for
the development and redevelopment cif properties that n-iight not be undertake n without such
incentive; and
WHEREAS, the Fort Worth City Council approved Ordinance No 17889-1 1-2007, dated
November 27 2007,establishing Tax Increment.l inane ng Reinvestment nvestn ent Zone,Nurnber Th rteen of
Fort Worth,Texas, in accordance with the Tax Increment Financing Act,to promote redevelopment
of property in the Zone and the construct-Ion of new 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 ;rune and, through its appointed representatives
made a presentation to the Tarrant County Commissioners Court regarding the reinvestment zone.
and
WHEREAS,the City of Fort Worth.City Council has adopted a Project t Plan and Financing
Plan for the Zone which was approved and submitted by the Reinvestment Zone Board of Directors
on May 29, 2008; and
WHEREAS,the Tarrant County Commissioners Court recognizes that the 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 Tex Code, the Tarrant
County Commissioners Court a .et on and enter into Tax Increment
� Financing participation
agreements on behalf ofthose taxing entities for which it levies taxes, including the Tarrant County
Hospital District.
NOW, THEREFORE, BE IT RESOLVED:
That the Tarrant County Commissioners Court hereby approves Tarrant County Hospital
District participation in the Fort Worth Tax Increment Financing Reinvestment Zone #13 and the
payment 'Into the tax increment fund of Eighty percent (80%) of the Hospital Districts collected
incremental tax revenue as set forth in the Agreement)produced by applying the Hospital District's
tax rate to the 'incremental increase in the value of property located in the reinvestment zone,
beginning with th Tax Year 2012 through December 31,2028,or until Two,Million Four Hundred Ten
Is *
Thousand Two Hundred and Seven Dollars($2,410,20 7)in cumuiative Hospital District increment
deposits have be made, or until all project costs have been paid, whichever occurs first, in
accordance with the terms of the attached Agreement;that the Agreement be and is hereby approved;
that the Commissioners Court hereby agrees to enter into the Agreement on behalf of the Hospital
District; and the County Judge of Tarrant County or his designee be and is hereby authorized and
directed to execute said Agreement on behalf of the Hospital District substantially in the form
attached hereto and carry out the terms thereof at the appropriate time(s).
PASSED AND APPROVED, IN OPEN COURT, this 11 th day of December 2012.
COURT ORDER
UO Z 001)
B. Glen Whitley, County Ju
� C. Biooks- y N Ayer
Commissioner, Precinct I Commissicr er, Precinct 2
le,001
Gary Wickes -oPfb. J'o��()n'
Commissioner, Precinct Commissioner, Precinct 4
ATTEST: APPROVJ�D` S
County Clerk Asst. Di Ict Attorney
................... ..........
MC Rev'iew Page I oft
of"Ifi,ial siu,_N of te,c'ity of r rt Worth,T
FORT W"ORTH
CITY Cou'uNCIL AGENDA
ro
COUNCIL ACTIONl: Approved As Amended on 11 1/27/20l07 - Ord1nance No. # 17889-11-2007
019M19" "
DATE.- 11/27/20l07 REFERENCE G-15 82 LOG NAME: 17WOODHAVENTIF
NO.N-
CODE: G TYPE: NOW PUBLIC It YES
CONSENT HEARING.
SUBJECT: Conduct Public Hlelarinlg and Adopt Olrdlilnance Designating Tax Increment Reinvestment
Zone Number 13, City of Fort Worth, Texas (Woodhaven TIF)
RECOMMENDATION:
It is recommended that the City Council.-
1. Hold a public hearing concerning, the designation of Tax Increment Reinvestment Zone Number
1,31 City of Fort,Worth, 'Texas for tax increment financing, purposes- and
2. Adopt the attached ordinance which designates Tax Increment Reinvestment Zone Number 11 31
City of Fort Worth, Texas pursuant to Tax Increment Financing Act, Texas Tax Code, Chapter 311
and contains specific findings of fact, in support thereof.
DISCUSSION,:
The proposed Tax Increment Reinvestment Zone Number 131, City of Fort Worth, Texas being
referred to as the Woodhaven T11 F the TI F), is located on approximately 1100 acres of land in east
Fort Worth. The property is bounded by Interstate, Highway Loop 820 on the east, and Interstate
Highway 30 on the southernmost boundary. The exact boundaries of the property are described in
Exhibit A of the attached ordinance. The TIC' will expire on December 31, 2,1028,, or,the earlier date as
of which all project costs have been plaid.
This TIF is intended to help fund public infrastructure improvements (e.g wat r, sewer,, drainage,
roads, sidewalks, etc) associated with new development and redlelvelopment projects. In addition,
demolition, environmental remediation and all expenses allowable under the Tax Increment Financing
Act are contemplated as needed for areas within the TI,F Zone identified, as ripe for new oir
redevelopment. The ordinance provides that the City will contribute 100 percent of its tax increment to
the TIF each year during the term of the TIF.
This public hearing is required by the Act. Notice of this hearing was: (1) delivered to the governing
body of each, taxing unit that levies real property taxes on property located within the proposed TIF
and; (2) published in a newspaper of general circulation at least seven days prior to this meeting.
The proposed area meets the criteria f+ r designation as a reinvestment zone pursuant to the Act
h,ttpl,-,//apps.cfwnet.org/council—P cket/mc—rev iew.aspl9IN ID=88041&counclidate=1 '1/27/2007 7/2/2013
M&C Review Page 2 of 2
because,, as more specifically set orth in the findings of fact in the attached ordinance, the area is
ulnd�erdeveloped, blighted and larg:e�ly 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
substain!tila!lly impairing and arresting the sound growth of the City.
I
This property is located in COUNCIL DISTRICT 4.
FISCAL INFORMATIONXIERTIFICATION:
_the i I
Finance Director certifies, that this action will have no material effect on City funds.
TO F and Ac ou nt/C enters FROM F and/A,ccounit/Centers
.............
SubnAtted for City aria, erg Office by: Dale Fisseler(6140)
A i
Orilg I na,ting_-Departmient Head: Tom Higgins (6192),
Additional Information Contact: Oss,ana Hermosillo (81618)
Ardina Washington (8003)
ATTACHMENTS,
Woodhaven TI F Ordinance.doc
Woodhaven.ndf
http-,Happs.cfwnet.org/counc*l iew.asp.
1 _packethuc—rev' ?1D=8804&counc11date=11/27/2007 7/2/2013
............... ..............