HomeMy WebLinkAboutOrdinance 20807-07-2013 ORDINANCE NO. 20807-07-2013
AN ORDINANCE AMENDING ORDINANCE NO. 19466-12-2010
BY REDUCING THE BOUNDARIES OF NEIGHBORHOOD
EMPOWERMENT REINVESTMENT ZONE NUMBER
FIFTEEN R, CITY OF FORT WORTH, TEXAS (TRINITY
PARK); AND CONTAINING OTHER MATTERS RELATED TO
THE ZONE.
WHEREAS, pursuant to Ordinance No. 19466-12-2010, adopted by the City
Council on December 7, 2010, the City Council designated certain property in the City as
Neighborhood Empowerment Reinvestment Zone Number Fifteen R, City of Fort Worth,
Texas (Trinity Park) (the"Zone"); and
WHEREAS,the City wishes to reduce the Zone by removing all property in the
Zone that is located within the property boundaries set forth in Exhibit "A" (tile
"Property"), which is attached hereto and hereby made a part of this Ordinance for
all purposes; and
WHEREAS, on July 16, 2013 the City Council held a public hearing regarding
the reduction of the Zone and its benefits to the City and to property in the Zone and
afforded a reasonable opportunity for all interested persons to speak for or against the
removal of the Property from the Zone(the "Public Hearing");and
WHEREAS, notice of the Public Hearing was published in a newspaper of
general circulation in the City on July 8 , 2013, which satisfies the requirement of
Section 312.201(d)(1) of the Texas Tax Code that publication of the notice occur no
later than the seventh day before the date of the Public Hearing; and
WHEREAS, in accordance with Sections 312.201(d)(2) and (e) of the Texas
Tax Code, notice of the Public Hearing was delivered in writing not later than the
Ordinance Reducing Boundaries of Pagel of4
Nei:ghborhood Empowerment Reinvestment Zone No.Fifteen Ordinance No.20807-07-2013
(Trinity Park)
seventh day before the date of the public hearing io the presiding officer of dle
governing body of each taxing unit that includes in its boundaries real property located in
the Zone;
NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL
OF THE CITY OF FORT WORTH,TEXAS:
Section 1.
FINDINGS
That after reviewing all information before it regarding the removal of Mbu
Property from the Znuc and after conducting the Public Bsuciog regarding the reduction of
the Ioom and its heoofitm to the City and to property in the Zone and affording u
reasonable opportunity for all interested persons to speak for oragainst the removal of the
Property from the Zone,the City Council hereby makes the following findings offact:
1.1. The statements, facts, tc000 and conditions set forth in the recitals of
this Ordinance are true and correct.
1.2. Removal of the Property from the Zone will benefit the City by allowing the
City to foster development initiatives on and in the vicinity of the Property, as outlined in the
City Council's Pre-Council Meeting oo July 9, 2013 and the regular City Council meeting of
July )0` 20l3' by cucuuo that would not otherwise be available if the Property remained in
the Zone, including, but not limited to, designation of some or all of the Property as one or
more tux ohuternumt reinvestment zones ncpozuto from the Zone for the purpose of entering
into |iroitcJ tax abatement ogrcerncn<u (uu||eobvo\y ''Other XCowmmmic Development
Initiatives").
Ordinance Reducing Boundaries or Page 2^f4
Neighborhood Gmnvwronmt Reinvestment Zone No.Fifteen Ordinance No.20807-07-2013
(Trinity Park)
1.3. Beneficial development of the Property is likely to occur more quickly through the
implementation of Other Economic Development Initiatives.
1.4. Once the Property is removed from the Zone and developed by means of Other
Economic Development Initiatives, the value of property remaining in the Zone is likely to
increase,which will benefit both the Zone and the City in general.
1.5. The Zone, as reduced, will continue to be reasonably likely, as a result of
designation as a reinvestment zone to contribute to the retention or expansion of primary
employment or to attract major investment in the Zone that would be a benefit to the
Property and that would contribute to the economic development of the City.
1.6. Future improvements in the Zone, as reduced, will benefit the land remaining in
the Zone as well as the City for a period in excess often (10) years.
Section 2.
REMOVAL OF PROPERTY FROM
ZONE.
That the City Council hereby reduces the boundaries of the Zone by removing the
Property from the Zone. The Zone, as reduced, shall continue to be known as
"Neighborhood Empowerment Reinvestment Zone Number Fifteen R, City of Fort Worth,
Texas."
Section 3.
TERM OF ZONE.
That the removal of the Property from the Zone shall take effect upon the
adoption of this Ordinance. The Zone, as reduced, shall terminate in accordance with
Ordinance No. 19466-12-2010.
Ordinance Reducing Boundaries of Page 3 of 4
Neighborhood Empowerment Reinvestment Zone No. Fifteen Ordinance No.20807-07-2013
(Trinity Park)
Section 4.
8EVE8kABILUTY,
That if any portion, section or part of a section of this Ordinance is subsequently
declared invalid, inoperative or void for any reason by a court of competent jurisdiction,
the remaining portions,sections or parts of sections of this Ordinance shall be and remain in
full {brno and effect and shall not in any way be impaired or affected by such decision,
opinion orjudgment.
Section 5,
IMMEDIATE FFUDC1['
That this [)cdiunooe mbu|1 take effect and be in full force and effect from and
after its adoption,
AND IT 88 SO ORDAINED.
ADOPTED AND EFFECTIVE: July 16, 2013
APPROVED AS TO FORM AND LEGALITY:
_)
0y:
Deputy City Attorney City Secret ry
Ordinance Reducing Boundaries of page 4 of 4
Neighborhood Empowerment Reinvestment Zone No. Fifteen Ordinance No.z0xo7'u7'z0\3
(Trinity Park)
���
BX}1TB[[ "A"
LEGAL DESCRIPTION OF THE PROPERTY BEING REMOVED FROM
THE ZONE
TRACT I
Being all of Lots |. 2, ]. 4' 5, 6, 7, 8. 9, 10, 13, 14, 15` and 16 in Block 17 of Linwood Addition, an
Addition to the City of Fort Worth, Tarrant County. Texas, according to the plat thereof recorded in
Volume 388-8, Page l8), Plat Records, Tarrant County, Texas, and being all ofLot ) lBiuBlock 17
of Linwood Addition, an Addition to the City of Fort Worth, ?aooui County, Texas, according to the
plat thereof recorded in Cabinet B. Slide 3352, Plat Records, Ianout County, Texas, and being the
same tracts of land conveyed to James T. Ayres, 6y deeds recorded in Instrument Nos. D205321976.
D206009786' D206026252, Volume 9288, Page 2042 and Volume 9756, Page 362, Deed Records,
Tarrant County. ?oxun` and being port of tracts of land 000voyoJ to Economy /\purtnocn\a, LLC` by
decd recorded in lumirumcu1 No. D21112604 1, Deed Records, Tuonot County, Texas, and being more
particularly described as follows:
BEGINNING at 1/2 inch iron rod found for comer, said comer being in the intersection of the East
line ofFoob 8t»oct (50 toot 6e6t'of'vvq) and the South )ioc of Azalea Avenue (variable width right-
of-way);
THENCE South 58 degrees 40 minutes 00 seconds East along the South line of said Azalea Avenue, a
distance of)55.24 feet to u 1/2 inch iron rod found for corner, said comer lying in a tangent curve to
the left, having a radius of 800D0 feet, o delta of 31 degrees 20 n6outco 00 seconds and u chord
bearing and distance that bears South 74 degrees 20 minutes 00 seconds East, 43287 te*c
THENCE continuing along the South \iuc of said Azu|cu Avenue and along the said curve to the left,
an arc length of437,50feet to 1/2 inch iron rod found for comer;
THENCE East,continuing along the South line of said Azalea Avenue,u distance of2.03 feet tou 1/2
ioob iron nod found for comer, said cunuor lying in the intersection of the South line of said &zulcm
Avenue and the West line of Carroll Street(variable width dgbt-of-`pay);
THENCE South, along the West line o[said Carroll Street,u distance of 118.23 feet toa 1/2 inch iron
rod found for comer, said comer being the Northeast comer mf Block 20 City oI Fort Worth Park;
THENCE West,along the North line o[said Block 20, a distance ofZ43.0U feet tou 1/2 inch iron rod
fourid for comer, said comer being,the Northwest comer of said Block 20;
THENCE South, along the West line ofsaid Block 20, a distance^fl)0.00 feet to u 1/2 inch iron rod
found for comer,said comer lying iu the North line uf Mercedes Avenue(j0foot right-of-way);
THENCE West, along the North line of said Mercedes Avenue, u distance of5.UO feet to 1/2 inch
iron rod found for comer, said comer lying in u tangent curve to the right, having u czdinu of 550.00
feet, u delta of23 degrees 09oduutom58 seconds and a chord bearing and distance that bears North 78
degrees 25 minutes 0O seconds West, 22O.87feet;
THENCE along the North Uuo of said Mercedes Avenue and along the said curve to the hgbi an are
length o[222.}8 feet(oa 1/2 ioob iron rod found 5oroococc
THENCE North 66 degrees 50 o-�inutco 00 seconds Wesi, continuing along the North line of said
Mercedes Avenue, a distance ofJh.0i feet ma )/2 inch iron rod found for comer, said comer lying in
u tangent curve tothe left, having u radius of750.08 feet, u delta oy|6degrees }4ndnotesJ7seconds
and o chord bearing and distance that bcmm North 74 degrees 57 nuinu|nu 19 seconds nYca(, 211.92
feet;
THENCE continuing along the North line of said Mercedes Avenue and u\^og the said curve to the
left, an um length of 212.63 feet to u 1/2 inch iron rod found for comer, said ooroor lying in the
intersection of East line of said Foch Street and the North line of said Mercedes Avenue, and lying in a
noo(uugeut curve to the right, having u radius of 800,00 feet, o delta of \l degrees 13 minutes 47
seconds and u chord bearing and distance that bcom North 24 degrees 28 minutes 07 seconds East,
156.54 feet;
THENCE along the East line o{said Foub Street and along said curve to the right, an arc length mf
156.80 feet<non "%" found io concrete for comer;
THENCE North 30 degrees 05 uduuroo 00 anooudu East u|ooA the Beur }ioo of said Foob Street, o
distance of 89.01 feet to a 1/2 inch iron rod found for comer, said comer being in u tangent curve to
the |nft' having radius of 650.00 6zo(' u delta of08 degrees 17 "outca58 seconds and oobord
bearing and distance that bears North 25 degrees 55 minutes 36 seconds East, 94.07 feet;
THENCE continuing along the Buot |ion of said Foub Street and along said curve to the }eK` an are
length ofV4.)5 feet to the 9ADNI OF BEGINNING and ouotaiuiuA 148.573 square feet or 3.41 acres
of land.
TRACT2
Being all of Lots l` 2, 3, 4, 5, 6, 23. 24 and part of Lot 22 in Block 16 of Linwood Addition, an
Addition to the City of Fort Worth, 1[uono, County, Texas, according to the plat thereof recorded in
\/niuouc 388'B' 9u0c 181, Plat llr*onda` Tarrant County, Texas' and being the sunuc \cuci of land
conveyed to James T. Ayres, by deed recorded in Instrument No. D202119337, Deed Records,Tarrant
County, 'Texas, and being the same tracts ofland conveyed to James T. Ayres, byDeeds recorded in
Volume 10311' Page 1442 and Page 1454. Deed Records, Tarrant County, Texas, and being part oC
(ruota of land conveyed to Economy Apartments, LLC, by deed recorded in lnatruroon, No.
D2ill2684l, DeodK000rdo, 7u000tCouo\y.Iexom`uudboiogonorcpudiou\udydemcribeduobol|o*a:
BEGINNING at a 1/2 inch iron rod found for comer, said corner lying in the io\erwouduo of the East
line o[Fouh Street (50foot rim6<-of-*uy) and the South line o[Mercedes Avenue (5Ofoot right-of-
way);
THENCE South 82 degrees 20 minutes 59 u000udo Bou{. along the South line of said Mrnocdea
Avenue u distance of 15.95 feet to u 1/2 ioob iron nod found for comer, said comer being in a
noo<augeot curve to the right, 6ovio8 a radius of 700.00 &:o(` u delta of 16 degrees 22 minutes 13
seconds and aobord bearing and distance that bears South 74 do8Toea 18 minutes 52 u0000du 8ou,`
199.32 hon<;
THENCE along the South line of said Mercedes Avenue and along said curve to the right, an are
length of2O0.U0 feet\oxl/2 inch iron rod found for comer;
THENCE South 66 degrees 56 oninotea 38 seconds East, continuing along the 8uu(6 line of said
Met-cedes Avenue, a distance of 27.41 feet to a 1/2 inch iron rod found for corner, said corner being in
u 000(ougoutcurve to the left, having a radius of600.00 feet, a delta o[ l5 degrees }l ozioutom 38
seconds and u chord bearing and distance that bears South 74 degrees 35 minutes 49 seconds East,
162.10 feet;
THENCE continuing along the South line of said Mercedes Avenue and along said curve to the left,
an arc \cogtb of 16I60 feet to an "Y" kmnJ in concrete for comer, said oucnez being the Northwest
comer of Lot 7 in said addition;
THENCE South 07 degrees 39 minutes 00 seconds West, along the West line o[said Lot 7' adistance
of 114.27 feet to u 1/2 inch iron nod found for cocnec, said oncncx lying in the North lino of Lot 17 in
said addition;
THENCE North 88 degrees 44 minutes 00 onooude VVest, along the South lines of said l»ta 3-6, u
distance of 249.37 feet to a 1/2 inch iron rod found for corner, said comer being the Northwest comer
of Lot 20 and the North comer of Lot 2liu said xddidoo�
,
THENCE South 47 degrees 24 minutes 00 seconds West, along the Northwest line of said Lot 21, a
distance of90.80 feet tou 3/4 inch iron rod found for comer;
THENCE North O2 degrees 25 minutes 00 seconds West, u distance of7.00feet toul/2 inch iron rod
found for comer;
.
THENCE South O5 degrees 59odnuteu0U seconds West, a distance oy85.Oo feet tou 1/2 inch iron
rod found for comer,said comer lying in the North line of Merrimac Street(50 foot right-of-way),arid
being iounoutungcnt curve to the right, having radius of750.80 feet, u delta of 06 degrees 35
minutes 06 seconds arid ochord bearing and distance of North 79degrees 17 minutes 23 seconds
West, 06.i5feet;
THENCE along the North line ofsaid Merrimac Street arid along said curve to the right, an are length
ofQd.20 feet iou 1/2 inch iron rod found for comer;
THENCE North 75 degrees 59 nniouixx 50 ocouoda VVooi, along the North line of said Mocdnnoc
Street, u Jio(uuce of 9.29 feet to u 1/2 iuub iron rod found for comer, said comer lying in the
intersection of the North line of said Merrimac Street, and the East line of said Focb Street;
THENCE North 07 degrees 35 odnuicy 00 seconds Eomt, along the East line of said Focb Street, u
distance of 207.86 feet to an "Y' found in concrete for comer, said comer being iuo tangent curve to
the right, having a radius of 800.00 feet,a delta angle of 07 degrees 38 minutes 29 second, and a chord
bearing and distance that bears North I degrees 24 minutes 14 meoou6u East, 18661 feet;
THENCE u|ou& said Bumt line of said Foob Street and along said curve to the right, an arc >ong1b of
|0669 feet tothe POINT 0FQEGLNNING and containing 73`805 square feet or )69 acres ofland.
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City of Fort Worth, Texas
Mayor and Council Communication
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COUNCIL ACTME3W Approved on,7116/2013 •Ordinance No. 20807=074013'&
No.422 -Q�7-21
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DATE: Tuesday, July 16, 2013 REFERENCE NO.: G-17939
LOG NAME: 17TRINITYNEZBOUNDARY
SUBJECT:
Conduct a Public Hearing and Adopt Resolution and Ordinance Reducing the Size of the Trinity Park
Neighborhood Empowerment Zone and Neighborhood Empowerment Reinvestment Zone No. 15R, City of
Fort Worth, Texas (COUNCIL DISTRICT 9)
RECOMMENDATION:
It is recommended that the City Council:
1. Conduct a public hearing concerning the reduction of the Trinity Park Neighborhood Empowerment
Zone and Neighborhood Empowerment Reinvestment Zone No. 15R, City of Fort Worth, Texas;
2. Adopt the attached Resolution reducing the size of the Trinity Park Neighborhood Empowerment Zone;
and
3. Adopt the attached Ordinance reducing the size of Neighborhood Empowerment Reinvestment Zone
No. 15R, City of Fort Worth, Texas.
DISCUSSION:
On December 7, 2010, (M&C G-17141) the City Council adopted Resolution No. 3950 designating the
Trinity Park Neighborhood Empowerment Zone (the Trinity Park NEZ). Additionally, the City Council
conducted a public hearing and adopted Ordinance No. 19466 designating the same area as
Neighborhood Empowerment Reinvestment Zone No. 15R, City of Fort Worth, Texas (the Trinity Park
NEZ Reinvestment Zone).
Greystar GPII, LLC (Greystar), owns or intends to purchase approximately five acres of property west of
Carroll Street, north of Merrimac Street, east of Foch Street and south of Azalea Avenue, all of which
currently is located within the Trinity Park NEZ. Greystar or an affiliate is considering the redevelopment
of this property into a multi-family apartment and townhome development consisting of at least 374
residential units and a parking garage with at least 498 spaces at a cost of at least $35 million. The
development is proposed to be completed on or before December 31, 2015. The greater of 37 or 10
percent of all residential units in the development are proposed to be set aside as quality affordable
housing available to tenants whose adjusted incomes do not exceed the then-current 80 percent income
limits established by the United States Department of Housing and Urban Development for the Fort Worth-
Arlington Metro FMR area. In addition, at least eight units will be fully handicap accessible and at least
three of these units will also be affordable units.
Greystar has applied for a tax abatement incentive as a prerequisite for undertaking the development and
Staff intends to ask the City Council to consider a Tax Abatement Agreement with Greystar or an affiliate,
pursuant to which the City would abate up to 70 percent of the City's taxes on real property improvements
Logname: 17TRINITYNEZBOUNDARY Page I of 2
at the site for a period of1Dyears. |n order for the City Council ho grant a tax abatement, the property
subject bu the abatement must be located ina reinvestment zone designated, in accordance with Chapter
312uf the Texas Tax Code, and the terms and conditions of the Tax Abatement Agreement must be
consistent with a tax abatement policy adopted by the City Council.
State law also nmquinya that Tax Abatement Agreements with property owners in a n\ng>o reinvestment
zone must contain identical terms for the amount and duration of the abatements. Existing Tax
Abatement Agreements with other property owners in the Trinity Park NEZ Reinvestment Zone all provide
for abatements of up to 100 percent of the City's taxes on real property improvements for periods of five
years. Because the recommended terms and conditions of the Tax Abatement Agreement for the
Gneystar project are different from the other Tax Abatement Agreements that are already in place in the
Trinity Park NEZ Reinvestment Zone, itis necessary for the City Council to remove the development
property from the Trinity Park NEZ Reinvestment Zone and to designate it as part of a new reinvestment
zone.
The City's General Tax Abatement Policy, adopted by the City Council, pursuant to Resolution No. 4096-
06-2012, provides that a residential development project with a minimum capital investment amount of$5
million ie eligible for tax abatement consideration if the property owner agrees to set aside a mutually-
agreed number or percentage of the units as affordable and handicap accessible. The City's separate
NEZ Tax Abatement Policy, adopted by the City Council, pursuant to Resolution No. 4209-05-2013,
requires only a minimum capital investment amount of$208.00O.00 in order for u residential project
located inaNEZb] be eligible for tax abatement, but it also requires that a higher number of units b8
designated as handicap accessible and necessitates a City Council waiver if less than 20 percent of the
units are reserved aeaffordable, Greystar'n tax abatement application, creation o/ the new reinvestment
zone and the Tax Abatement Agreement that Staff intends to recommend, will all be governed by the
City's General Tax Abatement Policy.
Upon adoption of the attached Resolution and Ordinance, the five-acre development site will no longer be
eligible for any incentives under the NEZ program. The properties remaining in the Trinity Pork NEZ and
Trinity Park NEZReinvestment Zone will ba unaffected by this action. After creation of the new
reinvestment zone by separate action of the City Council, this action will allow the City tn enter into aTax
Abatement Agreement with Gnmystaron the negotiated terms and conditions described above.
The Trinity Park NEZia located in COUNCIL DISTRICT 9.
FISCAL INFORMATION I CERTIFICATION:
The Financial Management Services Director certifies that this action will not increase the total
appropriations on City funds.
CENTERS:FUND TO Fund/Account/Centers FROM Fund/Account/Centers
CERTIFICATIONS:Submifted.for City Manager's Offic@ by:
Fernando Costa U6122\
Originating Department..Head: Cynthia Garcia (8187)
Robed8hurnn 08003>
Additional Information Contact: Ana Alvarado (2601)
Luguuooe: 17TRDNITlNBZBOL/NDARY Page 2nf2
EXHIBIT"A"
LEGAL DESCRIPTION OF THE PROPERTY BEING REMOVED FROM THE ZONE
TRACT 1
Being all ofLots 1, 2, 3' 4. 5, 0, 7, 8, 0, 10, 13, 14. 15. and 16 in Block 17nfLinwood Addition, an
Addition to the City of Fort Worth, Tarrant County, Texas, according to the plat thereof recorded in
Volume 388-B. Page 181' Plat Records, Tarrant County, Texas, and being all of Lot 11R }n Block 17of
Linwood AddiUon, an Addition to the City of Fort Worth, Tarrant County, Taxes, according to the plat
thereof recorded in Cabinet B, Slide 3352, Plat Records, Tarrant County, Texas, and being the same
tracts of land conveyed to James T.Ayres, by deeds recorded in Instrument Nos. D205321976,
O208008786. D206026252. Volume 0288, Page 2042 and Volume 8756. Page 382, Deed Records,
Tarrant County, Texas, and being part of tracts of land conveyed to Economy Apartments, LLC, by
deed recorded in Instrument No. D211126041, Deed Records, Tarrant County, Texas, and being more
particularly described as follows:
BEGINNING at a 1/2 inch iron rod found for corner, said corner being in the intersection of the East line
of Foch Street(50 foot right-of-way) and the South line of Azalea Avenue (variable width right-of-way);
THENCE South 58 degrees 40 minutes 00 seconds East along the South line of said Azalea Avenue, a
distance of 155.24 feet to a 1/2 inch iron rod found for corner. said corner lying inm tangent curve hothe
|eM, having a radius of 800.00 femt, a delta of 31 degrees 20 minutes 00 seconds and a chord bearing
and distance that bears South 74 degrees 20 minutes 00 seconds East, 432.07 feet;
THENCE continuing along the South line of said Azalea Avenue and along the said curve to the left, an
om length of437.5D feet bma 1/2 inch iron rod found for corner;
THENCE East, continuing along the South line of said Azalea Avenue, a distance of 2.93 feet to a 1/2
inch iron rod found for corner, said corner lying in the intersection of the South line of said Azalea
Avenue and the West line cf Carroll Street(variable width right-of+way);
THENCE South, along the West line of said Carroll Street, o distance of110.23 feet toa 1/2 inch iron
rod found for corner, said corner being the Northeast corner of Block 2O City of Fort Worth Park;
THENCE VVaot, along the North line of said Block 20, a distance of 243.00 feet to o 112 inch iron nod
found for corner, said corner being the Northwest corner mf said Block 20;
THENCE Souih, along the West line cf said Block 20. m distance cf110.O0 feet too 1/2 inch iron rod
found for corner, said corner lying in the North line of Mercedes Avenue (50 foot right-of-way);
THENCE VVaot, along the North Una of said Mercedes Avenue, u distance of 5.DO feet to a 1/2 inch iron
rod found for corner, said corner lying in a tangent curve to the right, having a radius of 550.00 feet, a
delta of 23 degrees 09 minutes 58 seconds and a chord bearing and distance that bears North 78
degrees 25 minutes OO seconds West, 220.87feet;
THENCE along the North line of said Mercedes Avenue and along the said curve to the right, an arc
length o[222.38 feet(oa1/2 inch iron rod found for corner;
THENCE North 66 degrees 50 minutes 00 seconds West, continuing along the North line of said
Mercedes Avenue, o distance of 36,01 feet 1oa 1/2 inch iron rod found for corner, said corner lying in a
tangent curve to the left, having a radius of 750.00 feet,a delta of 16 degrees 14 minutes 37 seconds
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and a chord bearing and distance that bears North 74 degrees 57 minutes 19 seconds West, 211.92
feet;
THENCE continuing along the North line of said Mercedes Avenue and along the said curve to the left,
an arc length of 212.63 feet to a 1/2 inch iron rod found for corner, said corner lying in the intersection
of East line of said Foch Street and the North line of said Mercedes Avenue, and lying in a nontangent
curve to the right, having a radius of 800.00 feet, a delta of 11 degrees 13 minutes 47 seconds and a
chord bearing and distance that bears North 24 degrees 28 minutes 07 seconds East, 156.54 feet;
THENCE along the East line of said Foch Street and along said curve to the right, an arc length of
158.8O feet toon ^X^found in concrete for corner;
THENCE North 30 degrees 05 minutes 00 seconds East along the East line of said Foch Street, a
distance of 89.01 feet to a 1/2 inch iron nod found for corner, said corner being in a tangent curve to the
left, having a radius of 650.00 feet, a delta of 08 degrees 17 minutes 58 seconds and a chord bearing
and distance that bears North 25 degrees 55 minutes 36 seconds East, 94.07 feet;
THENCE continuing along the East line of said Foch Street and along said curve to the left, an arc
length of94.15 feet to the POINT (]F BEGINNING and containing 148`573 square feet or3.41 acres of
land.
Being all uf Lots 1. 2. 3. 4. 5. 6. 23' 24 and part of Lot 22in Block 18of Linwood Addition, an Addition bo
the City of Fort Worth, Tarrant County, Texaa, according tothe plat thereof recorded in Volume 388-B.
Page 181, Plat Records, Tarrant County, Texaa, and being the same tract ofland conveyed toJames
T. Ayres, by deed recorded in Instrument No. D202119337, Deed Records, Tarrant County, Texas, and
being the same tracts of land conveyed to James T. Ayres, by Deeds recorded in Volume 10311, Page
1442 and Page 1454, Deed Records, Tarrant County, Texas, and being part of tracts of land conveyed
to Economy Apartments, LLC, by deed raonndod in Instrument No. D211128041, Deed Reoords,
Tarrant County, Texas, and being more particularly described eyfollows:
BEGINNING at a 1/2 inch iron nod found for corner, said corner lying in the intersection of the East line
of Foch Street(50 foot right-of-way)and the South line of Mercedes Avenue (50 foot right-of-way);
THENCE South 82 degrees 30 minutes 59 seconds East, along the South line of said Mercedes
Avanue, a distance of 16.05 feet to a 1/2 inch iron rod found for oornar, said corner being in a
nontongentoumo to the right, having a radius of700.00feet, a delta of 16 degrees 22 minutes 13
seconds and achord bearing and distance that bears South 74degrees 18 minutes 52 seconds East,
199.32 feet;
THENCE along the South line of said Mercedes Avenue and along said curve to the right, an arc length
of2U0.O0 feet 10 a 1/2 inch iron rod found for corner;
THENCE South 66 degrees 56 minutes 38 seconds Eust, continuing along the South line of said
Mercedes Avanue, a distance of 27.41 feet to o 1/2 inch iron rod found for corner, said comer being in
a nontangantoun/e to the |eft, having a radius of 600.00 hmot, a delta of 15 degrees 31 minutes 38
seconds and achnrd bearing and distance that bears South 74 degrees 35 minutes 49 seconds East,
162.10 feet;
THENCE continuing along the South line of said Mercedes Avenue and along said oun/a to the |aM` an
arc length of102.6O feet ioan "X^ found inconcrete for corner, said corner being the Northwest corner
of Lot 7 )n said addition;
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THENCE South 07 degrees 39 minutes 00 seconds West, along the West line of said Lot 7, a distance
of 114.27 feet to a 1/2 inch iron rod found for corner, said corner lying in the North line of Lot 17 in said
addition;
THENCE North 80 degrees 44 minutes 00 seconds West, along the South lines of said Lots 3-6, a
distance of 249.37 feet to a 1/2 inch iron rod found for corner, said corner being the Northwest corner of
Lot 20 and the North corner of Lot 21 in said addition;
THENCE South 47 degrees 24 minutes 00 seconds West, along the Northwest line of said Lot 21, a
distance of 90.80 feet to a 3/4 inch iron rod found for corner;
THENCE North 82 degrees 25 minutes 00 seconds West, a distance of 7.00 feet to a 1/2 inch iron rod
found for corner;
THENCE South 05 degrees 59 minutes 00 seconds West, a distance of 85.89 feet to a 1/2 inch iron rod
found for corner, said corner lying in the North line of Merrimac Street (50 foot right-of-way), and being
in a nontangent curve to the right, having a radius of 750.00 feet, a delta of 06 degrees 35 minutes 06
seconds and a chord bearing and distance of North 79 degrees 17 minutes 23 seconds West, 86.15
feet;
THENCE along the North line of said Merrimac Street and along said curve to the right, an arc length of
86.20 feet to a 112 inch iron rod found for corner;
THENCE North 75 degrees 59 minutes 50 seconds West, along the North line of said Merrimac Street,
a distance of 9.29 feet to a 1/2 inch iron rod found for corner, said corner lying in the intersection of the
North line of said Merrimac Street, and the East line of said Foch Street;
THENCE North 07 degrees 35 minutes 00 seconds East, along the East line of said Foch Street, a
distance of 207.86 feet to an "X" found in concrete for corner, said corner being in a tangent curve to
the right, having a radius of 800.00 feet, a delta angle of 07 degrees 38 minutes 29 second, and a
chord bearing and distance that bears North 11 degrees 24 minutes 14 seconds East, 106.61 feet;
THENCE along said East line of said Foch Street and along said curve to the right, an arc length of
106.69 feet to the POINT OF BEGINNING and containing 73,805 square feet or 1.69 acres of land.
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