HomeMy WebLinkAboutContract 25469 CITY SECRETARY
CONTRACT NO.
STATE OF TEXAS § TAX ABATEMENT AGREEMENT BETWEEN
COUNTY OF TARRANT § THE CITY OF FORT WORTH AND
CITY OF FORT WORTH § BELL HELICOPTER TEXTRON INC.
Abatement Agreement(this"Agreement_")is entered into.by and between the City
of Fort Worth, Texas (the "City"), duly acting herein by and through its City Manager, and Bell
Helicopter Textron Inc.("Owner"), a Delaware corporation in good standing to do business in the
State of Texas, duly acting by and through its authorized officers.
WHEREAS, the City has adopted a resolution. stating that it elects to be eligible to
participate in tax abatement; and
WHEREAS, on the 17th day of February, 1998, the City Council of the City of Fort
Worth, Texas ("City Council") adopted Resolution No. 2379, entitled a Policy Statement: Tax
Abatement for Qualifying Development Projects (the "Policy Statement"), attached hereto and
incorporated herein as Exhibit "A"; and
WHEREAS, the Policy Statement constitutes appropriate "guidelines and criteria"
governing tax abatement agreements to be entered into by the City as contemplated by Chapter 312
of the Texas Tax Code, as amended(the "Code"); and
WHEREAS, on the 12th day of October, 1999, the Fort Worth City Council adopted
Ordinance No. 13967 and Ordinance No. 13968 ("the Ordinances") establishing Tax Abatement
Reinvestment Zone No. 32 and Tax Abatement Reinvestment Zone No. 33 ("the Zones"); and
WHEREAS, Owner owns certain real properties, more particularly described in Exhibit
"B" attached hereto and incorporated herein by reference (the "Premises"), located totally within
the Zones; and
WHEREAS, on the 24th day of August, 1999, Owner submitted an application for tax
abatement, with incorporated attachments, to the City concerning the contemplated use of the
Premises (the "Application for Tax Abatement"), attached hereto and incorporated herein as
Exhibit"C"; and
WHEREAS, the contemplated use of the Premises, the Required Improvements (as
hereinafter defined) and the terms of this Agreement are consistent with encouraging development
of the Zones in accordance with the purposes for its creation and are in compliance with the Policy
Statement, the Ordinance and other applicable law; and
WHEREAS, the City Council finds that the terms of this Agreement, and the Premises and
Required Improvements, satisfy the eligibility criteria of the Policy Statement; and
o ffl CIA L FEW ED
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WHEREAS, written notice that the City intends to enter into this Agreement, along with a
copy of this Agreement, has been furnished in the manner prescribed by the Code to the presiding
officers of the governing bodies of each of the taxing units in which the Premises is located; and
NOW, THEREFORE, the City and Owner, for and in consideration of the premises and
the promises contained herein, do hereby contract, covenant and agree as follows:
I.
OWNER'S COVENANTS
A. Owner will locate an expansion to its facilities for the production of civilian and military
versions of tilt-rotor aircraft in Reinvestment Zone No. 32 and a customer service delivery center
for the civilian aircraft in Reinvestment Zone No. 33 (collectively these facilities are referred to as
the "Project'). As part of the Project, Owner shall construct, or cause to be constructed, on and
within the Premises certain improvements (the "Required Improvements") (i) consisting of a
20,000 square feet manufacturing facility in Reinvestment Zone no. 32, and (ii) having a cost upon
completion of at least One Million Eight Hundred Thousand Dollars ($1,800,000), including site
development costs. The kind, number and location of the Required Improvements are more
particularly described in the Application for Tax Abatement. Minor variations in the Required
Improvements from the description provided in the Application for Tax Abatement shall not be an
Event of Default,provided that the conditions in the first sentence of this Paragraph A are met and
the Required Improvements are used for the purposes and in the manner described in the
Application for Tax Abatement.
B. Owner covenants to substantially complete construction of all of the Required
Improvements on or before December 31, 2000.
C. Owner covenants that during the Term (as defined in Paragraph HI.D. hereof)
Owner shall cause to be located on the Premises new tangible personal property having an original
cost of at least Forty Million Dollars ($40,000,000), excluding inventory and supplies.
D. Owner covenants that the Required Improvements shall be constructed and the
Premises shall be used in accordance with the description of the project set forth in the Application
for Tax Abatement. The Owner covenants to comply with and satisfy all of the provisions and
requirements for the project as set forth in the Application for Tax Abatement, including but not
limited to (i) the description and location of the Required Improvements; (ii) the activities to be
performed; (iii) the eligibility criteria for the Required Improvements; (iv) the impact from
construction including amounts to be spent with Fort Worth Companies, contractors,
subcontractors and certified Minority Business Enterprises and Women Business Enterprises; (v)
the employment impact from permanent employment, including the number of jobs to be held by
Fort Worth residents and number of jobs to be held by Inner City residents; (vi) the cost and fiscal
impact of the Required Improvements; and (vii) the amount and type of annual supplier and
professional service contracts that will be awarded to both Fort Worth Companies and certified
Minority Business Enterprises and Women Business Enterprises.
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E. Owner covenants that throughout the Term, the Required Improvements shall be
operated and maintained for the purposes set forth herein so that the uses of the Premises shall be
consistent with the general purposes of encouraging development or redevelopment of the Zone,
except as otherwise authorized or modified by this Agreement.
GENERAL PROVISIONS
A. The City has adopted guidelines and criteria governing tax abatement agreements
for the City and may enter into this Agreement containing the terms set forth herein.
B. The Premises are not an improvement project financed by tax increment bonds.
C. Neither the Premises nor any of the Improvements covered by this Agreement are
owned or leased by any member of the City Council, any member of the City Plan or Zoning
Commission or any member of the governing body of any taxing units joining in or adopting this
Agreement.
D. This Agreement is subject to rights of holders of outstanding bonds of the City.
E. In the event of any conflict between the City zoning ordinances, or other City
ordinances or regulations, and this Agreement, such ordinances or regulations shall control.
F. A portion or all of the Premises and/or improvements thereon may be eligible for
complete or partial exemption from ad valorem taxes, as a result of existing law or future
legislation. This Agreement is not to be construed as evidence that such exemptions do not apply
to the Premises and/or improvements thereon.
III.
ABATEMENT TERMS AND CONDITIONS
A. The City hereby grants to Owner a real and personal property tax abatement
("Abatement") relative to Owner's Premises, the Required Improvements and tangible personal
property located on the Premises, excluding inventory and supplies, subject to the following
terms and conditions.
B. The amount of the Abatement shall be based upon a percentage of the increase in
value of the Premises, the improvements thereon and on the new tangible personal property
located on the Premises over their respective values on January 1, 1999, the year in which this
Agreement is executed, and shall be calculated as follows:
Up to eighty percent (80%) of the increase in value of the premises based upon the
abatement schedule set out in Exhibit 6 to the Application for Tax Abatement
(Attachment"C"); and
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Up to eighty percent (80%) of the increase in value resulting from new tangible
personal property on the Premises based upon the abatement schedule set out in
Exhibit 6 to the Application for Tax Abatement(Attachment"C").
Provided, that the increase in value subject to abatement in any one year shall be
— limited-to no-more-than-the-amount-estimated-as-the-cost of construction of the
Required Improvements ($1.8 million) and the amount of estimated increase in
tangible personal property, excluding inventory and supplies, to be located on the
Premises ($250 million).
C. Owner shall have the right to protest and contest any or all appraisals or
assessments of the Premises and/or improvements thereon.
D. The term of the Abatement (the "Term") shall begin January 1 of the year following
the year in which the Certificate of Occupancy is issued(the "Beginning Date") and, unless sooner
terminated as herein provided, shall end on the December 31st immediately preceding the tenth
(10th)anniversary of the Beginning Date.
E. The City acknowledges receipt from Owner of the required application fee of one
percent (1%) of project cost, not to exceed$15,000. If construction on the required Improvements
is begun within one year from October 12, 1999 (with or without a tax abatement), such fee shall
be creditable in full to the benefit of Owner against any permit, impact, inspection or other lawful
fee required by the City in connection with the project, and any remaining amounts shall be
refunded to Owner.
IV.
RECORDS,AUDITS AND EVALUATION OF PROJECT
A. Subject to applicable law governing financial disclosure by the Owner, the City
shall have the right to review the financial condition of the Project to determine compliance with
this Agreement. The City shall annually (or such other times deemed appropriate by the City)
evaluate the project to insure compliance with this Agreement. On or before the following March
1st after every year of the Term, Owner shall provide information and documentation which details
Owner's compliance with each applicable term of the agreement. Failure to provide this
information shall be considered an event of default. The information shall include, but not be
limited to,the following:
(i) the number and dollar amounts of all construction contracts and
subcontracts awarded on the Project to businesses which are Fort Worth Companies;
(ii) the total number of employees who work on the Premises, the number of
employees who are Fort Worth residents, and the number of employees who reside in
designated "Inner City" areas. These jobs shall be reported in job classifications
appropriate to the employees;
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(iii) the gross dollars and supporting details showing the amounts spent on
supply and service contracts with Fort Worth Companies;
(iv) the dollar amount of both construction and supply and service contracts
spent with certified Minority Business Enterprises and Women Business Enterprises.
B. The City shall make a decision and rule on the actual annual percentage of.tax
abatement for the Project, based on the information furnished each year, on or before August 1 of
the taxable year and shall so notify the Owner.The actual percentage of the abatement for a taxable
year is therefore based upon the Owner's performance with regard to the commitment categories as
provided in Exhibit 6 to the Application for Tax Abatement (Attachment "C") for the preceding
year.
C. During normal office hours throughout the Term and the year following the Term,
providing reasonable notice is given to Owner, the City shall have access to the Premises by City
employees for the purpose of inspecting the Premises and the Required Improvements to ensure
that the Required Improvements or repairs are made in accordance with the specifications and
conditions of this Agreement and to verify that the conditions of this Agreement are being
complied with. Such inspections shall be conducted in accordance with Owners standard security
procedures as may be mandated by company policy and United States government security
requirements.
V.
BREACH
A. In the event that (i) the Required Improvements for which an abatement has been
granted are not completed in accordance with this Agreement; or (ii) the schedule for completion
of the Required Improvements listed in Paragraph B of Article I of this Agreement is not satisfied;
or(iii) Owner allows its ad valorem real property taxes with respect to the Premises or the project,
or its ad valorem taxes with respect to the tangible personal property to become delinquent and
fails to timely and properly follow the legal procedures for protest and/or contest of any such ad
valorem real property or tangible personal property taxes; or (iv) Owner breaches any of the other
terms or conditions of this Agreement,then Owner shall be in default of this Agreement(an "Event
of Default"). Should an Event of Default occur, the City shall give Owner written notice of such
Event of Default and if Owner has not cured such Event of Default within ninety (90) days of said
written notice, this Agreement may be terminated by the City; provided, however, that if such
Event of Default is not reasonably susceptible of cure within such ninety (90) day period and
Owner has commenced and is pursuing the cure of same, then after first advising City Council of
the efforts to cure same, Owner may utilize.an additional ninety (90) days. Time in addition to the
foregoing 180 days may be authorized by the City Council. As liquidated damages for an Event of
Default after the expiration of the applicable notice and cure periods, all taxes which otherwise
would have been paid to the City for each year when an Event of Default existed, without the
benefit of Abatement (after taking into account any applicable exemptions), will become a debt to
the City. Such amount may be recovered by the City through adjustments made to Owner's ad
valorem property tax appraisal by the Appraisal District, or if not so recovered shall be due, owing
and paid to the City within sixty (60)days of the expiration of the above-mentioned applicable cure
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period(s) as the sole and exclusive remedy of the City, subject to any and all lawful offsets,
settlements, deductions, or credits to which owner may be entitled. In the event that such amount
is not paid within sixty (60) days of the expiration of the applicable cure period, Owner shall in
addition be liable for all penalties and interest on said amount charged at the statutory rate for
delinquent taxes as determined by Section 33.01 of the Code, as in effect at the time of the
payment-of-such penalties and-interest.—T-he-par-ties-acknowledge-that.actual damages in the event__
of default and termination would be speculative and difficult to determine.
B. Notwithstanding the foregoing paragraph, if the City and Owner mutually
determine that the development or use of the Premises or Required Improvements as contemplated
herein is no longer appropriate or feasible or that a higher or better use is preferable, the parties
may terminate this Agreement by a writing signed by both parties, the period of Abatement shall
expire as of the effective date of the termination,there shall be no recapture of amounts previously
abated, and neither party shall have any further rights or obligations hereunder.
VI.
EFFECT OF SALE,ASSIGNMENT OR LEASE OF PROPERTY
The abatement shall vest in Owner and cannot be assigned to a new owner of all or a
portion of the Premises and/or improvements, without the prior consent of the City Council, which
consent shall not be unreasonably withheld provided that the Council determines that the proposed
assignee is financially capable of meeting the terms and conditions of this Agreement and that the
proposed Assignee agrees to assume all terms and conditions of this Agreement. Any attempted
assignment without such prior consent shall be grounds for termination of this Agreement and the
tax abatement hereunder upon ten (10) days written notice from the City to Owner.
Notwithstanding the above, this Agreement may be assigned by Owner to an entity controlling,
controlled by or under common control with Owner without prior consent, provided the Assignee
is the owner of the Premises, and Owner gives thirty (30) days prior written notice of the
assignment to the City.
VII.
NOTICE
All notices called for or required by this Agreement shall be addressed to the following, or
such other party or address as either party designates in writing, by certified mail postage prepaid
or by hand delivery:
OWNER: CITY:
Bell Helicopter Textron Inc. City of Fort Worth
Attn: Vice President–Law 1000 Throckmorton Street
PO Box 482 Fort Worth,Texas 76102
Fort Worth,Texas 76101
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V111.
CITY COUNCIL AUTHORIZATION
This Agreement was authorized by the City Council at its meeting on the 12ffi of October,
1999,by Council approving Mayor and Council Communication No. C-17691 authorizing the City
Manager to execute this Agreement on behalf of the City.
Ix.
ESTOPPEL CERTIFICATE
Any party hereto may request an estoppel certificate from another party hereto so long as
the certificate is requested in connection with a bona fide business purpose. The certificate, which
if requested will be addressed to the Owner, shall include, but not necessarily be limited to,
statements that this Agreement is in full force and effect without default (or if default exists the
nature of default and curative action, which should be undertaken to cure same), the remaining
term of this Agreement, the levels and remaining term of the Abatement in effect, and such other
matters reasonably requested by the party(ies)to receive the certificates.
X.
OWNER STANDING
Owner, as a party to this Agreement, shall be deemed a proper and necessary party in any
litigation questioning or challenging the validity of this Agreement or any of the underlying
ordinances, resolutions, or City Council actions authorizing same and Owner shall be entitled to
intervene in said litigation.
X1.
APPLICABLE LAW
This Agreement shall be construed under the laws of the State of Texas. Venue for any
action under this Agreement shall be the State District Court of Tarrant County, Texas. This
Agreement is performable in Tarrant County,Texas.
XH.
RECORDATION OF AGREEMENT
A certified copy of this Agreement in recordable form shall be recorded in the Deed
Records of Tarrant County, Texas.
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XIII.
AMENDMENT
This Agreement may be modified by the parties hereto to include other provisions which
could have originally been included in this Agreement or to delete provisions that were not
-originally-necessar-y-to-this Agreement pursuant-to the-procedures set-forth in Title_3, Chapter 312 _
of the Code.
EXECUTED this61%/'/j4 day of11�� 1999, by the City of Fort
Worth,Texas.
EXECUTED this G�day of 1999, by Bell Helicopter
Textron Inc.
ATTEST: CITY OF FAIKT W TH,TEXAS
Glori eerson, City Secretary Mike Groomer, Assistant City Manager
APPROVED AS TO FORM AND LEGALITY: 6 —,/ Z2 L -
Contract Ruthorization
Assistant City Attorney Date
Dater
ATTEST: BELL HELICOPTER TEXTRON INC.
Name: Name: o �.
Title: Title: ��• �� F ►�ee C-%
Date:
STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, on this day personally appeared Mike Groomer,
Assistant City Manager of the CITY OF FORT WORTH, a municipal corporation,known to me to
be the person and officer whose name is subscribed to the foregoing instrument, and acknowledged
to me that the same was the act of the said CITY OF FORT WORTH, TEXAS, a municipal
corporation, that he was duly authorized to perform the same by appropriate resolution of the City
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Council of the City of Fort Worth and that he executed the same as the act of the said City for the
purposes and consideration therein expressed and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this 0 day of
o�Q
' 1999.
Notary Public in a d or
t tate of Texas /
_
SARAH SARAH JAN ODLE
NOTARY PUBLIC
Notary's Printed Name ?�� State of Texas
Comm. Exp.01-29-2W2
STATE OF TEXAS §
COUNTY OF TARRANT §
FORE ME, t e undersigned authority, on this day personally appeared
m h L ar o P , an officer of Bell Helicopter Textron Inc., a Delaware
corporation, known to me to be the person whose name is subscribed to the foregoing instrument,
and acknowledged to me that he/she executed the same for the purposes and consideration therein
expressed, in the capacity therein stated and as the act and deed of said corporation.
R�
GIVEN � ER MY HAND AND SEAL OF OFFICE this o2 day
of 4 C-e-VV\-b Q r ' 1999.
Notary Public in and for o�PPV ry REBECCA A. OWNBY
e State of Tex ` * Notary PUblic
5
ec.c w h STATE o fiCxAs
My With.NP.0411112000
Notary's Printed Name
Page 9 of 9
hAjLIBIT A
E)UMIT A
CITY OF FORT WORTH
POLICY STATEMENT.•
TAX ABATEMENT FOR QUALIFYING
DEVELOPMENT PROJECTS (2/17/98)
I. GENERAL PURPOSE AND OBJECTIVES
Certain types of investment result in the creation of new jobs, new income and provide for
positive economic growth and inner-city economic stabilization which is beneficial to the City as
a whole. The City of Fort Worth is committed to the promotion of high quality development in
all parts of the City and improvement in the quality of life for its citizens.
The City of Fort Worth will, on a case-by-case basis,. give consideration to the granting of
property tax incentives to eligible residential, commercial, and industrial development projects.
It is the policy of the City of Fort Worth that consideration of eligible piojects will be provided
in accordance with the guidelines and criteria outlined in this document. Texas law authorizes
the City of Fort Worth to grant tax abatement on the value added to a particular property by a
specific development project which meets the economic goals and objectives of the City, and the
requirements of the statute (Vernon's Tax Code A=. Section 312.001, et. seq.).
As mandated by state law, this policy applies to the owners of real property. It is not the
policy of the City of Fort Worth to grant property tax abatement to any development
project for which a building permit has been previously issued by the City's Department of
Development. Nothing in the policy shall be construed as an obligation by the City of Fort
?-Mv
Worth to approve any tax abatement application.
Although all applications which meet the eligibility criteria(Section III.) of this policy statement
will be reviewed, it is the objective of the City of Fort Worth to encourage applications from
projects that:
(a) are located in enterprise zones or other designated target areas; or
(b) result in a development with little or no additional cost to the City; or
(c) result in 1,000 or more new jobs, with a commitment to hire Fort Worth and inner city
residents.
11. DEFINITIONS
"Abatemerif' means the full or partial exemption from ad valorem taxes on eligible properties for
a period of up to ten years and an amount of up to 100% of the increase in appraised value (as
reflected on the certified tax roll of the appropriate county appraisal district) resulting from
improvements begun after the execution of the tax abatement agreement. Eligible properties
must be located in a reinvestment zone.
"Reinvestment zone" is an area designated as such by the City of Fort Worth or State of Texas in
accordance with the Texas Property Redevelopment and Tax Abatement Act, Sections 312.001
through 312.209 of the Tax Code.
"Residential Development Project" is a development project which proposes to construct or
renovate multi-family residential living units on property that is (or meets the requirements to be)
zoned multi-family as defined by the City of Fort Worth Zoning Ordinance.
"Fort Worth Company"is a business which has a principal office located within the city limits of
Fort Worth.
"Minority Business Enterprise (MBE) and Women Business Enterprise (WBE)" is a minority or
women owned business that has received certification as either a MBE or WBE by either the
North Texas Regional Certification Agency (NTRCA) or the Texas Department of
Transportation (TxDOT),Highway Division.
"Capital Investment" includes only real property improvements such as new facilities and
structures, site improvements, facility expansion, and facility modernization. Capital investment
does NOT include land acquisition costs and/or any existing improvements, or personal property
(such as machinery, equipment, and/or supplies and inventory).
"Facility Expansion" is a new permanent real property improvement such as a building or
buildings constructed to provide additional square footage to accommodate increased space
requirements of a Fort Worth company.
"Facility Modernization" is a new permanent real property improvement under taken to provide
increased productivity for a new or existing Fort Worth company.
"Supply and Service Expenses" are discretionary expenses incurred during the normal
maintenance and operation activities of a business.,-
111. ELIGIBILITY CRITERIA
A. RESIDENTIAL PROJECT ELIGIBILITY
A residential development Project is eligible for property tax abatement if:
1. The project is located in any of the following census tracts: 1002.02, 1010,
1011, 1016, 1017, 1018, 1019 (partial), 1025, 1028 (partial), 1029, 1030,
1031, 1033, 1035, 1036.01, 1037.01, 1038, 1040, 1041 (partial) (see Map-
Exhibit"A"); AND
2. a. The project will construct or renovate no less than 50 residential
living units of which no less than 20% shall be affordable (as defined
W
by the U.S. Department of Housing and Urban Development) to
persons with incomes at or below 80%of median family income; OR
b. The project has a minimum capital investment of$5 million
(excluding acquisition costs for land and any existing
improvements).
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111. ELIGIBILITY CRITERIA
B. COMMERCIAL/INDUSTRIAL ELIGIBILITY
1. New Projects
In order to be eligible for property tax abatement, a new
commercial/industrial development project must satisfy one of the
following three criteria:
a. Upon completion will have a minimum capital investment of$10
million and commits to hire an agreed upon percentage of residents
from an eligible inner city census tract (as identified on Exhibit
'WD for full time employment.; OR
b. Is located in the "inner city" (as identified on Exhibit "A") or
property immediately adjacent to the major thoroughfares which
serve as boundaries to any of these inner city census tracts and
commits to hire an agreed upon percentage of residents from an
eligible inner city census tract (as identified on Exhibit "A") for full
time employment.; OR
C. Is located outside of the "inner city", has a minimum capital
investment of less than $10 million, and commits to hire an agreed
to
upon percentage of residents from an eligible inner city census tract
(as identified on Exhibit"A") for full time employment.
2. Existing Business Expansion and/or Modernization
In order to be eligible for property tax abatement, a facility expansion
and/or modernization by an existing commercial/industrial business
a. Upon completion will have a minimum capital investment of $10
million.; OR
b. Must result in increased employment for which the business
commits to hire and retain an agreed upon percentage of residents
from an eligible inner city census tract (as identified on Exhibit
"A") for new, full time positions; A1IND
C. Must have a minimum capital investment of(1) $500,000, OR (2)
an amount equal to or greater than 25% of the appraised value, as
certified by the appropriate appraisal district, of real property
improvements on the property for the year in which the abatement
is requested.
C. PROOF TESTS
1. Building Permits
No tax abatement will be granted to any development project which has
applied for or received a building permit from the City's Department of
Development.
2, Evidence of Need for Tax Abatement
The applicant must provide evidence to substantiate and justify the tax
abatement request including (but not limited to) an analysis demonstrating
the tax abatement is necessary for the financial viability of the project.
IV. ABATEMENT GUIDELINES
The tax abatement agreement must provide that the applicant:
(1) Hire Fort Worth residents for an agreed upon percentage (at least 25%) of new full
time jobs to be created and make a good faith effort to hire 100% Fort Worth
residents for all new jobs created as a result of the abatement,
(2) Commit to hire an agreed upon percentage of Fort Worth residents from an eligible
inner city census tract (as identified on Exhibit "A") for all new jobs created as a
result of the project. The agreed upon percentage shall be determined by negotiation.
(3) Utilize Fort Worth companies for an agreed upon percentage of the total costs for
construction and Supply and Service Contracts, and
(4) Utilize Minority and Women owned Business Enterprises (ivI&WBEs) for an agreed
upon percentage of the total costs for construction and supply and service contracts in
the manner provided in the City of Fort Worth's Minority and Women Business
Enterprise ordinance.
In addition to the above, the abatement must comply with the following guidelines:
A. State law prohibits abatement of taxes levied on inventory, supplies or the existing
tax base. City policy is not to abate taxes on personal property located within Fort
Worth prior to the date of the tax abatement agreement.
B. Unless otherwise specified in the agreement, the amount of the taxes to be abated
shall in no event exceed the amount of the capital investment (as specified in the
application) multiplied by the City's tax rate in effect for the year in which the
calculation is made.
C. In certain cases, the City may consider a tax abatement application from the
owner of real property who serves as a landlord or lessor for a development
project which meets the eligibility criteria of this section.
D. The City may consider an application from the owner or,lessee of real property
requesting abatement of real and or personal property owned or leased by a
certificated air carrier on the condition that the certificated air carrier make
specific real property improvements or lease real property improvements for a
term of 10 years or more.
E. For an eligible development project to be considered for tax abatement, the
"Application for Tax Abatement" form must be completed and submitted to the
Office of Economic Development.
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F. An application fee must accompany the application. The fee is calculated at the
lesser of: (i) 1% of the project capital investment, or(ii) $15,000.
If construction on the project is begun on the site specified in the application
within a one (1) year period from the application submittal date (with or without a
tax abatement), this fee shall be credited to any permit, impact, inspection or any
other lawful fee required by the City of Fort Worth. If the project is not
constructed on the site specified in the application or if construction takes place at
the specified site more than one (1) year after the application submittal date, the
application fee shall not be refunded or otherwise credited.
G. If requested, the applicant must provide evidence that there are no delinquent
property takes due on the property on which the development project is to occur.
H. The tax abatement agreement shall limit the uses of property consistent with the
general purpose of encouraging development or redevelopment of the zone during
the period that property tax abatements are in effect.
I. Tax abatement may only be granted for projects located in a reinvestment or
enterprise zone. For eligible projects not currently located in such a zone, the City
Council may choose to so designate the applicant's property in order to allow for a
tax abatement.
J. The owners of all projects receiving tax abatement shall properly maintain the
property to assure the long term economic viability of the project.
V. PROCEDURAL STEPS
Each request for property tax abatement shall be processed according to the following
procedural guidelines_
A. Application Submission:
Provided that the project meets the criteria detailed in Section III of this policy,
the Applicant must complete and submit a City of Fort Worth "Application For
Tax Abatement" form (with required attachments) and pay the appropriate
application fee.
B. Application Review and Evaluation:
The Economic Development Office will review the application for accuracy and
completeness. Once complete, the application will be evaluated based on:
1. Types of new jobs created, including respective wage rates, and
employee benefits packages such as health insurance, day care
provisions, retirement package(s), transportation assistance, and any
other.
2. Percent of new jobs committed to Fort Worth residents.
3. Percent of new jobs committed to Fort Worth"Inner City" residents.
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4. Percent of construction contracts committed to:
a. Fort Worth based firms, and
b. Minority and Women owned Business Enterprises (MBEs and WBEs).
5. Percent of supply and service contract expenses committed to:
a. Fort Worth based firms, and
b. Minority and Women owned Business Enterprises (MBEs and WBEs).
6. The project's increase in the value of the tax base.
7. Costs to the City (such as infrastructure participation, etc.).
8. Other items which may be negotiated by the City and the applicant.
Based upon the outcome of the evaluation, the Economic Development Office
may present the application to the City Council's Expanding Economic
Opportunities Committee.
C. Consideration by Council Committee
Should the Economic Development Office present the application to the City
Council's Expanding Economic Opportunities Committee, the Committee will
consider the application at an open meeting. The Committee may:
(1) Approve the application. Staff will then incorporate the application into a
ta,x abatement agreement which will be sent to the City Council with the
Committee's recommendation to approve the agreement; or
(2) Request modifications to the application. Economic Development staff
will discuss the suggested modifications with the applicant and then, if the
requested modifications are made, resubmit the modified application to the
Committee for consideration; or
(3) Deny the application. The applicant may appeal the Committee's finding
by requesting the City Council to: (a) disregard the Committee's finding
and (b) instruct city staff to incorporate the application into a tax
abatement agreement for future consideration by the City Council.
D. Consideration by the City Council
The City Council retains sole authority to approve or deny any tax abatement
agreement and is under no obligation to approve any tax abatement application or
tax abatement agreement. The City of Fort Worth is under no obligation to
provide tax abatement in any amount or value to any applicant.
E. Effective Date for Approved Agreements
All tax abatements approved by the City Council will become effective on
January 1 of the year following the year in which a Certificate of Occupancy (CO)
is issued for the qualifying development project (unless otherwise specified in the
tax abatement agreement). Unless otherwise specified in the agreement, taxes
levied during the construction of the project shall be due and payable.
•6-
V1. RECAPTURE
If the terms of the tax abatement agreement are not met, the City Council has the right to
cancel or amend the abatement agreement. In the event of cancellation, the recapture of
abated taxes shall be limited to the year(s) in which the default occurred or continued.
Vil. INSPECTION AND FINANCIAL VERIFICATION
The terms of the agreement shall include the City of Fort Worth's right to: (1) review and
verify the applicant's financial statements in each year during the life of the agreement
prior to granting a tax abatement in any given year, (2) conduct an on site inspection of
the project in each year during the life of the abatement to verify compliance with the
terms of the tax abatement agreement.
Vill. EVALUATION
Upon completion of construction of the facilities, the City shall no less than annually
evaluate each project receiving abatement to insure compliance with the terms of the
agreement. Any incidents of non-compliance will be reported to all affected taxing units.
On or before March 31" of every year during the life of the agreement, any
individual or entity receiving a tax abatement from the City of Fort Worth shall
provide information and documentation which details the property owner's
compliance with the terms of the respective agreement and shall certify that the
owner is in compliance with each applicable term of the agreement. Failure to
report this information and to provide the required certification by the above
deadline shall result in any taxes abated in the prior year being due and payable.
1=
IX EFFECT OF SALE, ASSIGNMENT OR LEASE OF PROPERTY
No tax abatement rights may be sold, assigned or leased unless otherwise specified in the
tax abatement agreement. Any sale, assignment or lease of the property which is not
C2
permitted in the tax abatement agreement results in cancellation of the agreement and
recapture of any taxes abated after the date on which an unspecified assignment occurred.
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Exhibit B
Legal Description Of Property
Being a portion of the 43.956 acres conveyed Bell Helicopter Company by the deed
recorded in Volume 4031,Page 155 of the Deed Records of Tarrant County, Texas and
encompassing all of Tract A, Bell Helicopter Industrial Park, an addition to the City of Fort
Worth as recorded in Volume 388-49, Page 65 of the Plat Records of Tarrant County,
Texas, and more particularly described by metes and bounds as follows:
BEGINNING at the Northwest comer of aforesaid Tract A, lying in the East right of way
line of Norwood Drive at the intersection of the South right of way line of the C.R.I. and
G. Railroad;
THENCE S 85024'00"E 972.97 feet along said railroad right of way to an iron rod in the
East line of the 25 foot wide sanitary sewer easement conveyed to the City of Fort Worth
by the deed recorded in Volume 4116, Page 141 of the Deed Records of Tarrant County,
Texas;
THENCE along the East Line of said Easement as follows:
1. S 29052'00"E 266.63 feet to an iron rod for a comer;
2. S 02052'00"E 343.88 feet to an iron rod for a comer;
3. S 22006'00"E 121.69 feet to an iron rod for a comer:
4. S 04018'00"W 104.85 feet to an iron rod for a comer:
5. S 10010'00"E 224.61 feet to an iron rod for a comer in North line of the
120 foot right of way of Trinity Boulevard;
THENCE S 89010'00"W 197.83 feet along the North right of way line of said Trinity
Boulevard to an iron rod for a comer at the intersection of the East line of the 80 foot-right
of way of Norwood Drive as shown on the plat recorded in Volume 388-49, Page 65 of the
Plat Records of Tarrant County, Texas;
THENCE N 00001'00"E 108.50 feet along the East Right of way line of said
Norwood Drive to the Place of Beginning.
Page 1 of 3
Legal Description of Property
BEING A TRACT OF LAND SITUATED IN THE J. EVANS SURVEY, ABSTRACT
NUMBER 470, AND THE A. C. WARREN SURVEY, ABSTRACT NUMBER 1687,
TARRANT COUNTY, TEXAS, INCLUDING ALL OF LOT3, BLOCK4, NORTHPORT
ADDITION, AN ADDITION TO THE CITY OF FORT WORTH, TARRANT COUNTY,
TEXAS AS RECORDED IN CABINET A, SLIDE NUMBER 435, PLAT RECORDS,
TARRANT COUNTY, TEXAS AND ALSO BEING A PORTION OF THAT CERTAIN
TRACT OF LAND AS DESCRIBED BY DEED TO ALLIANCE AIRPORT, LTD., AS
RECORDED IN VOLUME 9378, PAGE 2033, COUNTY RECORDS, TARRANT COUNTY,
TEXAS AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS
AS FOLLOWS:
BEGINNING AT THE SOUTHWEST CORNER OF SAID LOT 3, A 5/8 INCH IRON ROD
WITH CAP STAMPED "CARTER&BURGESS" SET;
THENCE N 090 53' 13' W. 600.00 FEET WITH THE WESTERLY LINE OF SAID LOT 3 TO
ITS NORTHWEST CORNER, A 5/8 INCH IRON ROD WITH CAP STAMPED "CARTER &
BURGESS" SET;
THENCE N 800 06 4T E. WITH NORTHERLY LINE OF SAID LOT 3, AT 585.00 FEET
PASS ITS NORTHEAST CORNER, CONINTUING IN ALL 1310.48 FEET TO A 5/8 INCH
IRON ROD WITH CAP STAMPED "CARTER & BURGESS" FOUND IN THE WESTERLY
RIGHT-OF-WAY LINE OF HERITAGE PARKWAY AS RECORDED IN CABINET A,
SLIDE NUMBER 379, OF SAID PLAT RECORDS, THE BEGINNING OF A NON-
TANGENT CURVE TO THE LEFT,
THENCE 487.43 FEET WITH THE ARC OF SAID NON-TANGENT CURVE TO THE LEFT
AND SAID WESTERLY RIGHT-OF-WAY LINE, THROUGH A CENTRAL ANGLE OF 10°
57' 07', WITH A RADIUS OF 2550.00 FEET AND A LONG CHORD WHICH BEARS S 15°
26' 07' W, 486.69 FEET TO A 5/8 INCH IRON ROD WITH CAP STAMPED "CARTER &
BURGESS" FOUND;
THENCE S 090 57' 34' W, 140.24 FEET WITH SAID WESTERLY RIGHT-OF-WAY LINE
TO A 5/8 INCH IRON ROD WITH CAP STAMPED "CARTER & BURGESS" FOUND FOR
THE BEGINNING OF A CURVE TO THE RIGHT;
THENCE 46.66 FEET WITH THE ARC OF SAID CURVE TO THE RIGHT AND SAID
WESTERLY RIGHT-OF-WAY LINE THROUGH A CENTRAL ANGLE OF 89° 06' 42,
WITH A RADIUS OF 30.00 FEET AND A LONG CHORD WHICH BEARS S 540 30' 54 ' W,
42.10 FEET TO A 5/8 INCH IRON ROD WITH CAP STAMPED "CARTER & BURGESS"
FOUND IN THE NORTHERLY RIGHT-OF-WAY LINE OF HORIZON DRIVE, FOR THE
BEGINNING OF A CURVE TO THE LEFT;
Page 2 of 3
THENCE 274.63 FEET WITH THE ARC OF SAID CURVE TO THE LEFT AND SAID
NORTHERLY RIGHT-OF-WAY LINE, THROUGH A CENTRAL ANGLE OF 18° 57' 29',
WITH A RADIUS OF 830.00 FEET, AND A LONG CHORD WHICH BEARS S 89° 35' 31'
W, 273.38 FEET TO A 5/8 INCH IRON ROD WITH CAP STAMPED "CARTER &
BURGESS" FOUND;
THENCE S 800 06' 47' W, WITH SAID NORTHERLY RIGHT-OF-WAY LINE, AT 162.10
FEET PASS THE EASTERLY SOUTHEAST CORNER OF SAID LOT 3, CONTINUING IN
ALL 176.16 FEET TO A 5/8 INCH IRON ROD WITH CAP STAMPED "CARTER &
BURGESS" SET FOR THE BEGINNING OF A NON-TANGENT CURVE TO THE LEFT;
THENCE 182.87 FEET WITH THE ARC OF SAID CURVE TO THE LEFT AND SAID
NORTHERLY RIGHT-OF -WAY LINE, THROUGH A CENTRAL ANGLE OF 1740 3727 ',
WITH A RADIUS OF 60.00 FEET AND A LONG CHORD WHICH BEARS S 520 48' 03' W,
119.87 FEET TO A 5/8 INCH IRON ROD WITH CAP STAMPED "CARTER & BURGESS"
SET FOR THE SOUTHERLY SOUTHEAST CORNER OF SAID LOT 3;
THENCE S 800 06' 47' W, 464.43 FEET WITH THE SOUTHERLY LINE OF SAID LOT 3,
TO THE POINT OF BEGINNING AND CONTAINING 15. 3738 ACRES OF LAND, MORE
OR LESS, TO BE KNOWN AS LOT 3R, BLOCK 4 NORTHPORT ADDITION
Page 3 of 3
L
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i ® -. of Worth ' -
COMMERCIAL/INDUSTRIAL
Tax Abatement is ti
February 1999
Fi0kTW0Prf H.
Office of Economic Development
City Manager's Office
Fort Worth, Texas 76102
(817) 871-6103
1. Applicant Information:
Name Bell Helicopter Textron, Inc.
Address
City, State,Zip Code Fort Worth TX 76101
Telephone(_817_--) _ 280 5327 ext.
Fax 280 6595 ext.
Internet E-mail addresses (if available): mhonkomp@bel l hel i contQr tAxtron com
Contact Person(include title/position): m i;hael A . Hon komn
Director, Taxes
2. Property Description
Attach legal description or surveyor' metes &bounds description. See Exhibit 1
3. Current Appraised Value of Property
Attach latest copy of property tax statement from the County Appraisal District. See Exhibit 2
4. Attach a brief description of the project including: services provided or products
manufactured, major customers and locations, etc. See Exhibit 3
5. Project Description Plant 1
A. 'New Facilities B1 dq. 36 & Other Alliance
1. Size [g, lap sq. ft. 20,000 sq. ft. 28,000 sq. ft.
2. Cost of Construction $ 2,300,000 $1,800,000 $500,000
B. Site Development (parking, fencing, landscaping, etc.):
1. Type of work to be done None
2. Projected costs $ 0
C. Personal Property:
1. Value of:
a. Inventory $ See Exhibit 4
b. Supplies $ Included in C.l.a. above
2. Percent of inventory eligible for freeport exemption (inventory, exported from Texas
within 175 days) 0 %
3. Value of equipment, machinery, furnishings, etc. $ See Exhi b t 5
6. Project Construction:
A. What percent of the construction costs (5A.&B. above)will you commit to spend with:
1. Fort Worth businesses? %
2. Minority and Women owned Business Enterprises? 24 %
B. When will construction start? 6/99
C. How many construction jobs will be created? 70
D. What is the estimated payroll forthese jobs? $1,150,000 Estimated
.7. Employment:
A. If this project is an expansion or modernization of an existing facility:
1. How many persons are currently employed? 872
2. What percent of 7.A. above are Fort Worth residents? 25 %
3. What percent of TA above are Inner City residents? 1.5 %
B. Please complete the following table. SEE ATTACHED See Exhibit 6
First Audit Year Fifth Year Tenth Year
New Jobs to be Created 110 120 925
"Cumulative"
Less Transfers*
Net Jobs 110 120 925
% of Net Jobs to be
filled by Fort Worth
25% 2 5% 25
Residents
% of Net Jobs to be
filled by Inner City 1.5% 1. 5% 1.5%
Residents
* If any employees will be transferring,please describe where they will be transferring from.
** Must be at least 25%
C. Attach a description of the jobs to be created (technician, engineer, manager, etc.),tasks
to be performed for each, and wage rate for each classification. See Exhibit 7
D. Attach a brief description of the employee benefit package(s) offered (i.e. health
insurance, retirement, public transportation assistance, day care provisions, etc.)
including portion paid by employee and employer respectively. See Exhibit 8
8. Regarding supply and service expenses (i.e. landscaping, office or manufacturing
supplies,janitorial services, etc.):
A. What is the amount of non-sole source supply and service expenses? $ 5,000,0001YR
B. What percentage will be committed to Fort Worth businesses? * %
C. What percentage will be committed to Minority and Women Owned Businesses?*%
* See Exhibit 6
9. Is the property appropriately zoned for the project? Yes
10.Is the property platted? If yes,will replatting be necessary? No
Yes
11. Attach a description of any environmental impacts associated with this project. See Exhibit 9
12.Attach a description of any direct benefits to the City of Fort Worth as a result of this
project (i.e. sales tax, inventory tax, development fees, etc.) See Exhibit 10
13.Do you intend to pursue abatement of.
County Taxes? ® Yes ❑ No
School Taxes? ❑ Yes ( No
14.What level of abatement do you request: Years? 10 Percentage? 100%
15. Is any person or firm receiving any form of compensation, commission or other
monetary benefit based on the level of incentive obtained by the applicant from the City
of Fort Worth? If yes, please attach details. NA
No
16. On an attachment, explain why tax abatement is necessary for the success of this
project. Include a business pro-forma or other documentation to substantiate your
request. See Exhibit 11
On behalf of the applicant, I certify the information contained in this application (including all
attachments)to be true and correct. I further certify that, on behalf of the applicant, I have read
the Policy Statement: Tax Abatement For Qualified Development Projects" and agree to comply
with the guidelines and criteria stated therein.
Name ao• o r' Title
Date
Legal Description of Property
BEING A TRACT OF LAND SITUATED IN THE J. EVANS SURVEY, ABSTRACT
NUMBER 470, AND THE A. C. WARREN SURVEY, ABSTRACT NUMBER 1687,
TARRANT COUNTY, TEXAS, INCLUDING ALL OF LOT3, BLOCK4, NORTHPORT
ADDITION, AN ADDITION TO THE CITY OF FORT WORTH, TARRANT COUNTY,
TEXAS AS RECORDED IN CABINET A, SLIDE NUMBER 435, PLAT RECORDS,
TARRANT COUNTY, TEXAS AND ALSO BEING A PORTION OF THAT CERTAIN
TRACT OF LAND AS DESCRIBED BY DEED TO ALLIANCE AIRPORT, LTD., AS
RECORDED IN VOLUME 9378, PAGE 2033, COUNTYRECORDS, TARRANT COUNTY,
TEXAS AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS
AS FOLLOWS:
BEGINNING AT THE SOUTHWEST CORNER OF SAID LOT 3, A 5/8 INCH IRON ROD
WITH CAP STAMPED "CARTER& BURGESS" SET;
THENCE N 090 53' 13' W. 600.00 FEET WITH THE WESTERLY LINE OF SAID LOT 3 TO
ITS NORTHWEST CORNER, A 5/8 INCH IRON ROD WITH CAP STAMPED "CARTER &
BURGESS" SET;
THENCE N 800 06' 47' E. WITH NORTHERLY LINE OF SAID LOT 3, AT 585.00 FEET
PASS ITS NORTHEAST CORNER, CONINTUING IN ALL 1310.48 FEET TO A 5/8 INCH
IRON ROD WITH CAP STAMPED "CARTER & BURGESS" FOUND IN THE WESTERLY
RIGHT-OF-WAY LINE OF HERITAGE PARKWAY AS RECORDED IN CABINET A,
SLIDE NUMBER 379, OF SAID PLAT RECORDS, THE BEGINNING OF A NON-
TANGENT CURVE TO THE LEFT,
THENCE 487.43 FEET WITH THE ARC OF SAID NON-TANGENT CURVE TO THE LEFT
AND SAID WESTERLY RIGHT-OF-WAY LINE, THROUGH A CENTRAL ANGLE OF 10-
57' 07', WITH A RADIUS OF 2550.00 FEET AND A LONG CHORD WHICH BEARS S 15-
26' 07' W, 486.69 FEET TO A 518 INCH IRON ROD WITH CAP STAMPED "CARTER &
BURGESS" FOUND;
THENCE S 090 57' 34' W, 140.24 FEET WITH SAID WESTERLY RIGHT-OF-WAY LINE
TO A 5/8 INCH IRON ROD WITH CAP STAMPED "CARTER & BURGESS" FOUND FOR
THE BEGINNING OF A CURVE TO THE RIGHT;
THENCE 46.66 FEET WITH THE ARC OF SAID CURVE TO THE RIGHT AND SAID
WESTERLY RIGHT-OF-WAY LINE THROUGH A CENTRAL ANGLE OF 890 06' 42',
WITH A RADIUS OF 30.00 FEET AND A LONG CHORD WHICH BEARS S 540 30' 54W,
42.10 FEET TO A 5/8 INCH IRON ROD WITH CAP STAMPED "CARTER & BURGESS"
FOUND IN THE NORTHERLY RIGHT-OF-WAY LINE OF HORIZON DRIVE, FOR THE
BEGINNING OF A CURVE TO THE LEFT;
Exhibit I
Page 1 of 2
Legal Description Of Property
Being a portion of the 43.956 acres conveyed Bell Helicopter Company by the deed
recorded in Volume 4031, Page 155 of the Deed Records of Tarrant County, Texas and
encompassing all of Tract A, Bell Helicopter Industrial Park, an addition to the City of Fort
Worth as recorded in Volume 388-49, Page 65 of the Plat Records of Tarrant County,
Texas, and more particularly described by metes and bounds as follows:
BEGINNING at the Northwest corner of aforesaid Tract A, lying in the East right of way
line of Norwood Drive at the intersection of the South right of way line of the C.R.I. and
G. Railroad;
THENCE S 85 024'00"E 972.97 feet along said railroad right of way to an iron rod in the
East line of the 25 foot wide sanitary sewer easement conveyed to the City of Fort Worth
by the deed recorded in Volume 4116, Page 141 of the Deed Records of Tarrant County,
Texas;
THENCE along the East Line of said Easement as follows:
1. S 29 052'00"E 266.63 feet to an iron rod for a corner;
2. S 02 052'00"E 343.88 feet to an iron rod for a corner;
3. S 22 006'00"E 121.69 feet to an iron rod for a corner:
4. S 04 018'00"W 104.85 feet to an iron rod for a corner:
5. S 10010'00"E 224.61 feet to an iron rod for a corner in North line of the
120 foot right of way of Trinity Boulevard;
THENCE S 89010'00"W 197.83 feet along the North right of way line of said Trinity
Boulevard to an iron rod for a corner at the intersection of the East line of the 80 foot-right
of way of Norwood Drive as shown on the plat recorded in Volume 388-49, Page 65 of the
Plat Records of Tarrant County, Texas;
THENCE N 00 001'00"E 108.50 feet along the East Right of way line of said
Norwood Drive to the Place of Beginning.
Exhibit 1
STATE OF TEXAS, COUNTY OF TARRANT couivi• TARRANT COUNTY ADMINISTRATION BUILDING
100 E.WEATHERFORD,FORT WORTH,TEXAS 76196-0301
.!UNE �AR'150N,ASSESSOR-COLLECTOR •'Q % 817/884-1100
ORIGINAL TAX RECEIPT ACCT: 00008370346
DATE : 01/05/99 PIDN: P
`• PARCEL ADDRESS : 624 E HURST BLVD LEGAL DESC ACRES: .000
OWNER: TEXTRON INC BELL HELICOPTER TEXTRON INC
BUSINESS PERSONAL PROPERTY
DEPOSIT # : 9901055001-98/MRSMS
RECEIPT # : 00867694
CHECK #: BANK WIRE
MTG/AGT/GR : 5550001025 zr. . . . •
LOAN # EXEMPT :000
TAXING I TAX I DATE I BASE .TAX ;' '.�'`N'INTEREST&---
YRI ENTITIES- - -- - -- -- - - -- - -- - - -- - - - - - - - ------- -
ITYP TAXABLE VALUERATE - -- -PAID-- - ---- -PAID- - - - - -
98 FT WORTH CIT 143 , 192,478 .897500 12/31/98 1,285, 152 .49 .. �'`Fxc :00
•
98 TARRANT COUN 143, 192,478 : ='.•:r mfr<;'=:';:•.
:264836 12/31/98 379 ,225 .23:..,...,.. � �' .'.00
98 REG WATER DI 143 , 192, 478 .019823 12/31/98 28, 385.043M 00
98 T C HOSPITAL 143 , 192,478 .234070 12/31/98 335, 170 63
98 T C JR COLL 143 , 192,478 .106410 12/31/98 152, 371.12;: .00
98 H-E-B ISD 143 , 192,478 1.606257 12/31/98 2, 300, 03.9 .20. : .00
try�y,� Cdr,•
---- — — — — — — — -— — - — — •——— —
l ; — — _— __ _ -.+•X r F-x --
AMOUNT TENDERED 4,480, 343 .71 ,!` REMAINING DUE
COLLECTION FEE PD:
COURT COSTS AS OF 01/05%99
ABSTRACT FEES 0 00
TAX/PEN/INT 4,480, 343 .71
TOTAL PAID 4,480, 343 .71 �}
BALANCE 0 .00
a� ��
36.7 �(p�, �iQt G. PIZ0PC-,e7 �u,pREN T):,.
---- -------- -- �w_ ��* THIS •IS A �R.ECEIPT *�•� __. _._..,......._.... �-•- '��r°.� �.4�. -
ACCT: 00008370346 _JUNE GARRISOl!] r
., TARRANT CO 1 �
J 2 100 E. WEATHEORD ST
FORT WORTH TX 6 03D1
4
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'4. 1 ,�• �,s-i" � ti x, K � ..r li'aL syyj'" ?•c s
�y
t , r� t �e Y r y d'yt5���d✓,�c'�'�e�i�. �,4=..., ,=r yn s � . , Rti `�'� � TL 1 y � �.
. L ,^ r t '-t f. `�-,��RY ` •� �.:r> •f •,,a 12�i. -.;.s'til+ :•1" .
.:: -.•`�'a.+T ;.:t. - .a `"i _ 'L•� ', .mot J i'd' - c�... sr Mr?'-1.,� '.. ?;$"'.
BELL HELICOPTER TEXTRON
PO BOX. 482
FT WORTH TX 7 6101 '
... .: �. `£l3d t..p. vl' `' YLr4�r- +rr 'F..•.-'l'x.. r �x*„`.'P ?f. �'�T
Exhibit 2
. .. .'tam.:..r.__r ._.,. _..,. .- .... . . . .,,�.�`...'n'ft_.�tti�.ao:.�:i`..`.' ='t•.'"`�' ._._......_._..�...._ _-.. _.�.... � x...>>3e.. �8. r..:,+F;'. ..
STATE OF TEXAS, COUNTY OF TARRANT couN • TARRANT COUNTY ADMINISTRATION BUILDING
�` 'y'' 100 E.WEATHERFORD,FORT WORTH,TEXAS 76196-0301
JUNE GARRISON,ASSESSOR-COLLECTOR C 'x 8171884-1100
ORIGINAL TAX RECEIPT ACCT: 00005980038
DATE 01/05/99 PIDN: 2030-1-1 ;,T.
PARCEL ADDRESS : 600 E HURST BLVD LEGAL
HELICOPTER INDUSTRIAL, pI{ 76'270
OWNER: BELL HELICOPTER INC, BLK 1 LOT 1
DEPOSIT # : 9901055001-98/MRSMS
RECEIPT # : 00867696
MTG/AGT/GR : 5550001025 CHECK #: BANK WIRE
LOAN_#— — — — —— — — — — —— —— — — —
-- — --- — —EXEMPT— _000— -- - — — — - - — — -- — - -- — — --
TAXING PAY TAXABLE TAX DATE BASE TAX PENALTY &
YR ENTITIES ITYPI VALUE I RATE— — I - _PAID-- I _ _ _ _ :PAID— _ — - - - -INTEREST- — --
I _ _ - _ - __ _ - _
98 FT WORTH CIT 8,216, 321 :897500 12/31/98 :73 , 741 48 K :00
98 TARRANT' COUN 8,216, 321 .264836 12/31/98 23, 7-59 78 ', � a:00
98 REG WATER DI 8,216, 321 ::019823 12/31/98 1, 628 72 h :'00
98 T C HOSPITAL 8 ,216, 321 .234070 12/31/98
98 T C JR COLL 8 , 216, 321 .106410 12/31/98 8, 742 .99 .00
98 H—E—B ISD 8, 2.16, 321 1.606257 12/31/98 131, 975 23r;, .00
YHA N6i
f
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2-=
—— — — — — — — — — — _ — — — — —— — — — — — —— — ?
AMOUNT TENDERED . 2 5 7,.0 8 0 .14
_ `.REMAINING 0 5y'S DUE
COLLECTION FEE PD: AS OF 01 " " 9`9
COURT COSTS 0 00
ABSTRACT FEES
TAX/PEN/TNT 257, 080 .14b T F «� •. ..
TOTAL PAID 257, 080 . 14
0 .0 0
BALANCE
3
r
r---
------ * THIS IS A 'RECEIPT
ACCT: 00005980038 ^�: t
.JUNE GARRISON
;.TARRANT COt7NT `
' 100 E WEATHERF ST, r
=FORT WORTH D301
(817) 884 1100 _
' '� n''" t '.:4 � � "4t",,,y t •y vi,Xi'`'2l.v..-L i�} 1 �.,e^ '* � �..-y.,.a�'�'.�^y .r � SSl"Z cw
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BELL HELICOPTER TEXTRON
PO BOX 4 82i
7 6101
FT WORTH TX ti
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STATE OF TEXAS, COUNTY OF TARRANT TARRANT COUNTY ADMINISTRATION BUILDING
: a:• 100 E.WEATHERFORD,FORT WORTH,TEXAS 76196-0301
JUNE GARRISON,ASSESSOR-COLLECTOR 817!884-1100
;r m:
ORIGINAL TAX RECEIPT ACCT: 00004742788
DATE : 01/05/99 PIDN: 2030-4-1
PARCEL ADDRESS: 9601 TRINITY BLVD LEGAL DESC ACRES: 27 . 096
OWNER: BELL HELICOPTER INC, BELL HELICOPTER INDUSTRIAL PK
BLK 4 LOT 1
DEPOSIT # : 9901055001-98/MRSMS
RECEIPT # : 00867713
MTG/AGT/GR : 5550001025 CHECK #: BANK WIRE
LOAN # -— — — — — — — — — — — — — — — — — - — — — — — — — — — — — — — — -— —- — — — - — - — — — — — — — — — — — — — — — — — — - -
- — — — — — — -— —- — - — — — — — — — — — — — — — — — — — - — —= — — - — --
YR ENTITIES ITYP I TAXABLE ( RATE I PAID I BASE PAID� I INTEREST&
— — I — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — -- — —- — — — — — — — — — — — — — — — - — — - — — — — — — -- — — — - — — - — — -
98 FT WORTH CIT 3 , 018 , 028 . 897500 12/31/981 27, 086 . 80 00
98 TARRANT COUN 3 , 018 , 028 .264836 12/31/98 7 , 992 . 82 :00
98 REG WATER DI 3 , 018 , 028 . 019823 12/31/98 598 .26 :00
98 T C HOSPITAL 3 , 018 , 028 .234070 12/31/98 7, 064 .30 ; : ' ::00
98 T C JR COLL 3 , 018 , 028 .106410 12/31/98 3 , 211.48 "="`r ' :00
98 H—E—B ISD 3 , 018 , 028 1. 606257 12/31/98 48 , 477 .29 '` ..00
wS•
— — — — — — — — — — — — — — — — — — — — — — — -. .- — — — — — — — — — —
AMOUNT TENDERED 94, 430 . 95 ?:-'
COLLECTION FEE PD: S„�S)UE
REMAINING TAXE
AS OF 01/05/99_.:. ..,: ;:
COURT COSTS - 0 . 0 0 ' r =: ':r•::'1;::
ABSTRACT FEES
TAX/PEN/INT 94, 430 .95
TOTAL PAID 94, 430 -95
BALANCE 0 . 00
• ct� -
-------.--------------
*** THIS IS A RECEIPT
ACCT: 00004742788 JUNE GARRISON
TARRANT COUNTY
100 E. WEATHERFORD=:.STS
FORT WORTH TX 7
(817) 884-1100
r
..tN �F,.Asir.;?•:
BELL HELICOPTER TEXTRON �•4a, ��
PO BOX 482
FT WORTH TX 76101
i t'eta.1,is. •ry,�{-i-- ���1.F/J
t
TARRANT COUNTY ADMINISTRATION BUILDING
STATE OF TEXAS, COUNTY OF TARRANT :�� a; 100 E.WEATHERFORD,FORT WORTH,TEXAS 76196-0301
JUNE GARRISON,ASSESSOR-COLLECTOR ge X 8171884-1100
m:
ORIGINAL TAX RECEIPT ACCT: 00004742796 ,
DATE 0
01/05/99 PIDN• 2030-4-2 €1`:,:,
PARCEL ADDRESS : 9601 TRINITY BLVD LEGALL DES COPTERAIRES: IAL pK 54
OWNER: BELL HELICOPTER INC, BLK 4 LOT 2
DEPOSIT # : 9901055001-98/MRSMS
RECEIPT # : 00867714 CHECK #' BANK WIRE
MTG/AGT/GR : 5550001025 EXEMPT :000
LOAN # _ _ - ----- - - ---- - - - - - - - - - - - - - - -- ---":----.-.-;- - ---
- - - - -TAXING- - - - - TAXABLE TAX DATE BASE TAX PENALTY &
YP VALUE I RATE I PAID I PAID- - - - . •^'IN'T'EREST -
YRI ENTITIES I _ ___ - - - - - - - - - - - ---- -- - -- -- --- - - - - - -- --- - - ,
_ - - - -
98 FT WORTH CIT 3 , 117, 269 .897500 12/31/98 27, 977.49 :
98 TARRANT COUN 3 , 117,269 ' 019823 12/31/98 8 � 617.94 ..�r� ?• J :00
9 8 REG WATER DI, 3, 117,2 6 9 / 0 0
98 T C HOSPITAL
3 , 117 , 269 ..234070 12/31/98 00
7, 296.59 '.
98 T C JR COLL 3 , 117, 269 .106410 12/31/98 3 , 317. 09 ry
98 H-E-B ISD 3, 117, 269 1.606257 12/31/98 50, 071.35 ., � i .00
t tip,
Avi-
y
' a t
— —
— — — — - — — — — — — — — � — < soli-,
?t
AMOUNT TENDERED 97, 536.11 REMAINING ;T DUE
COLLECTION FEE PD: AS OF O1/ . ?
COURT COSTS
ABSTRACT FEES w '
TAX/PEN/INT 97, 536 .11
TOTAL PAID 97, 536 .11
BALANCE 0 . 00
*** THIS IS A RECEIPT *** L
ACCT: 00004742796 ,?ME GARRISONG
100 E. WEA'I'HER 'ORD� S,T
r ::FORT WORTH
(817) 884-1100` x
-7:1
t d
♦y
BELL HELICOPTER TEXTRON g ry
PO BOX 482 y
FT WORTH TX 76101
r.
S
fyE��l�w.x1`-.sM"
02/26/99 FRI 13:54 FAI 9729919305 D&T Property Tax Dallas Q003
FEB-26-99 THU 1:47 PM TARRANT COUNTY TAX PAX NO. 817 684 1052 P. I
STATE OF TEXAS, COUNTY OF TARRANT TARRANT COUNTY ADMINISTRATION BUILDING
JUN9 GARRISON ASSESSOR-COLLECTOR 100 E.wEATHERFORD,FORT WORTH,TEXAS 7®196-0301
ORIGINAL-TAR RECEIPT-) ACCT: 00006473229
DATE 02JZ6j39 2301 HORIZON DR LEGAL DESC
PIDN; 30293li-4-3R-01
PARCEL ADDRESS:
ACRES: 7.87j,
OWNER: ROOTS STONE LTD PRTNSHPJI NORTHPORT ADDI TION
ELK_,._ LOT 3R
DEPOSIT # : 9902096005-98/RPSLOAD
RECEIPT # ! 00909907
MTG/AGT/GR ; CHECK #: 5685
LOAN # 1. EXEMPT- -.000
- --------- -- -- -- -
-- -- - -- -------------------------- - -- ----- --
--- --------------
TAXING ipAYI TAXABLE TAX I DATE I BASE TAX PENALTY &-
YR RNTITIES --TYP VALUE RATE PAID PA3:D I 114TER.EST
------ ---------------- ---------
- - -- ---- - -- ---------------------
-FT-WORTH-CIT - -- 1, 822,217 .897500 01/31/99 16,354.40 .00
9.8 TARRANT COUN 1, 822,217 .264836 01/31/99 4,825.89 .00
98 REG WATER DT 1, 822,217 .019823 01/31/99 361.22 .00
1, 822,217 .234070' 01/31/99 4,265.26 .00
98
98 T C T C J HOSPIT CULL AL 1, 822,217 .106410 01/31/99 1,939.02 .00
R
--- -- - ---------- - ---- ---------------------- ----- -- -- - ------ --- ......
AMOUNT TENDERED -' 27,745.79 REVIP-TNING TAXES DUE
COLLECTION PER PD: AS OF 02/26/99
COURT COSTS 0.00
ABSTRACT FEES
TAX/PEN/INT 27, 745.79
TOTAL PAID 27,745.79
BALANCE 0.00
-—------------------------------—---------------------------------------------
THIS IS A RECEIPT
ACCT: 00006473229 L7=9 GARRISON
TARRANT COUNTY
100 E. WEATHERFORD ST
FORT WORTH TX 76196-0301
(817) $84-1100
ROOTS STONE LTD PRTNSHP,
ROOTS STONE PT I 2ND FL
2-13 TOTSOYA-DORI CHIKUSA-KU
NAGOYA 464 JAPAN
3
02%26/99 FRI 13:53 FAI 9729919305 D&T Property Tax Dallas X1002
r>res-lb-yy TbU 1 :4Z YM TARRANT COUNTY TAX FAX NO. 80-884, 1052 P. 2
STATE OF TEXAS,COUNTY OF TARFG4NT fV spy TARRANT COUNTY ADMINISTRATION BUILDING
JUNE GARRISON,ASSESSOR-COLLECTQR d "; m,S.WEATHERFORD,FORT WORTH,TE)=76198-0301
817/884.1100
ORIGINAL TAX RECEIPT.--' ACCT: 00006685889
DATE 02/26/99 •- PIDN: 30293H-4-3R-02 /
PARCEL ADDRESS: 2301 HORIZON DR LEGAL DFSC ACRES: 7.50
OWNER: ROOTS STONE LTD PRTNSHP, NORTHPORT ADDITION
BLK +4 LOT 3R
DEPOSIT # : 9902096005-98/RPSLOAD LESS IMPROVEMENTS j
RECEIPT # 009Q9899
LOAN #T /GR s CHECK 5686
-° --------- - - -- - --- - ---
I ----------------- TAXING --1PPAAYY1 TAXABLE I RA S - PAID - $SE TAX ( INTEREST j
YR ENTITIES
(9W FT-WORTH-CIT---- 1,253- - .897500 01/31/99-----•• --11.25 - -- -_--- .00
978 TARRANT COUN 1,253 .264836 01/31/99 3 -32 j
98 R13G WATER DI 1,2S3 .019823 01/31/99 .25 .00
98 T C HOSPITAL 1,253 .234070 01/31/99 2.93 .00
98 T C JR COLL 1,253 .106410 01/31/99 1-33 .00
-- ---- -------- ---------- ------- --------------- -
AMOUNT-TENDERED-------- ----19 .08 - - - -----------------
COLLECTION FEE PD: R.BMAINING TAXES DUE ,
COURT COSTS AS OF 02/26/99
ABSTRACT FEES 0.0 0
TAX/PEN/INT 19 .08
TOTAL PAIT) 19.08
BALANCE 0.00
-------------------------------.._----__ ---—--------------------------------
*** �'**
ACCT: 00006685889 THIS IS A RECEIPT JUNE GARRISON
TARRANt' COUNTY
100 E. WEATHERFORD ST
FORT WORTH TX 76196-0301
(817) 884-13,00
ROOTS STONE LTD PRTNSHP,
ROOTS STONE PT 1 2ND FL
2-3-3 YOTStTYA-DORI CHIX,USA-KU
NAGOYA 464 JAPAN,
2
Brief Description of Project
Bell Helicopter Textron, Inc. has received contracts from the U.S. Government to
produce 31 V-22 tiltrotor aircraft through the year 2002 and anticipates contracts
to produce at least 240 additional V-22 aircraft through the year 2009. In
addition, Bell has received purchase commitments for 76 BA609 commercial
tiltrotor aircraft. It is estimated that the worldwide market for the BA609 will
exceed 1050 aircraft.
Engineering and design phases for the V-22 have been completed and initial
production delivery began in May, 1999. The actual assembly of the aircraft will
be done in Amarillo, Texas, however, Bell has decided that production of
component parts of the aircraft and deliveries of the commercial tiltrotor will occur
in the Fort Worth / Dallas area. This can only occur after substantial expansions
and acquisition of new property.
Proposed expansions include a floor space addition to Building 36 of Plant 1
located at 9601 Trinity Blvd., improvements and equipment additions to other
buildings of Plant 1 located at 600 E. Hurst Blvd., and the purchase and
improvement of an existing building at Alliance Airport.
See attached copies of floor plans for additions to Plant 1 Building 36.
990429a
Exhibit 3
BeII Helico
e
pter T
WOW
extron, lnc
:;Person l Paprty, value: #inventory
WROMEN
2000 9,000,000
2001 53,300,000
2002 125,300,000
2003 147,800,000
2004 150,000,000
Unlike a signs scan pa o e s current inventory
which relates to U.S. Government contracts, the
above inventories will largely relate to commercial
aircraft, therefore, the inventory will be taxable under
Texas law.
In addition, the component parts produced from the
above inventories to be used in Amarillo for
assembly of aircraft will not leave the state and
therefore, will not be eligible for Freeport exemption.
990615b
Exhibit 4
:Belt f-elicopler"Tex:rfln, 1r�c
1/a�ue of Eq�arpment,...tUfach�nery, J=urnishmgs, eta
?
:: ` ; < <>
> : .
t
2000 44,000,000
2001 47,000,000
2002 32,000,000
2003 27,000,000
2004 28,000,000
'2005 28,000,000
2006 28,000,000
2007 28,000,000
2008 28,000,000
2009 28,000,000
Total 318,000,000
990802a
Exhibit 5
Bell Proposed Abatement Structure
Bell Helicopter would receive a graduated ten-year tax abatement on real and personal
property that could reach a maximum of 80% annually. The abatement would
incorporate Bell's total workforce and total supply and service spending on an annual
basis at the two expansion project sites. (Located at Fort Worth Plant and Alliance)
The abatement is structured as follows:
Base abatement of 20% for base commitments that meet the following:
FW/IC resident employees 218/13 (10 percentage points)
FW construction contracts 25% (5 percentage points)
M/WBE construction contracts 24% (5 percentage points)
Additional tax abatement increment can be achieved in any given year through the
increased employment of Fort Worth and Inner City residents and through the company's
utilization of Fort Worth Companies and M/WBE Enterprises when contracting for
supplies and services. The ability to increase the abaterilent above the -base will be as
follows:
Employment(30% cap)
For each four additional FW residents above the 218 base commitment of FW
employees, the company will obtain one additional percentage point of tax
abatement with a cap of 20 additional percentage points for increased Fort
Worth resident hiring.
- 4 FW residents over 218 = 1% increase in abatement over base (20%
cap)
For each IC resident above 13 IC employees, the company will obtain an
additional 1/2 of one percentage point of tax abatement.
- 1 IC resident over 13 = '/2 of 1% increase in abatement over base
Supply & Service (30% cap)
a For each $100,000 spent with Fort Worth Company over a base of
$10,000,000, Bell will receive one additional percentage point of tax
abatement(20% cap)
® For each $50,000 spent with a certified M/WBE Enterprise over a base of
$5,000,000, Bell will receive one additional percentage point of tax
abatement. If the certified M/WBE Enterprise is a Fort Worth Company, Bell
will receive an additional 1/2 of a percentage point(20% cap)
The total tax abatement has a cap of 80%per annum.
Exhibit 6
Description of Jobs
Jobs to be created in this project include Detail Fabricators, Assemblers,
Machinists and manufacturing support personnel.
Wage rates for the new jobs will range from $15.25 to $16.75 per hour.
990429d
Exhibit 7
Brief Description of Employee Benefit Packages
Attached is a copy of Bell's Employee Benefits and Compensation Practices
(Exhibit 8A) and a copy of an Employee Contribution Comparison by Dollar
Amount and Percentage of Premium (Exhibit 8B). Exhibit 8A describes all Bell
employee benefits and unless otherwise noted all benefits are paid 100% by Bell.
The exception is the cost of medical coverage which is shared by Bell and
employees. Exhibit 8B demonstrates the amount and percentage of medical
coverage paid by employees. The remainder is paid by Bell.
990513a
Exhibit 8
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Bell Helicopter Textron
Employee Contribution Comparison
Based on Dollar Amount
HMO
Grou Employee Family rou p Employee Family
Company M $5.33/$63.33 $19.00/$178.00 Survey-South* $42.00 $147.00
Survey-South* $38.00 $162.00 Bell DOH>i994 $30.00 $120.00
Survey-Manufact.* $32.00 $114.00 Company F $37.05 $115.48
Bell-Aetna $20.00 $40.00 Survey-Manufact.* $33.00 $97.00
Company C $13.02 $39.06 Company G $24.00 $68.00
Bell-HMHP $15.00 $35.00 Company C $15.70 $47.10
Company L $0.00 $20.00 Bell DOH<1994 $20.00 $40.00
Company K $10.00 $26.00
Company A DNO Company 1 $0.00 $0.00
Company B DNO
Company D. DNO Company A DNO
Company E DNO Company B DNO
Company F
DNO Company D DNO
Company G DNO Company E DNR
Company H DNO Company H DNO
Company I DNO Company J DNR
Company J DNR Company L DNR
Company K DNR Company M DNO
PPO Indemnity
Group -E-m-.lployee Family Group Enloyee Family
Survey-South* 540.00 $166.00 Company F $72.80 $206.27
Survey-Manufact.* 532.00 $107.00 Survey-South* $44.00 $144.00
Company H S25.50 S87.50 Survey-Manufact.* $30.00 $96.00
Company D S0.00 $77.91 Company G $24.00 $68.00
Company A $0.00 $77.00 Company M $20.33 $60.00
Company C S18.51 S55.53 Company B $14.00 $45.00
Company B S14.00 $45.00 Bell-CIGNA $20.00 $40.00
Company K S15.00 $40.00
1
Bell Helicopter DNO Company H $0.00 $0.00
1
Company E DNO
Company F
DNO Company A DNO
1 Company G DNO Company C DNO
1 Company I DNO Company D DNO
1 Company J DNO Company E DNR
Company K DNO Company I DNO
Company L DNO Company J DNR
Company M DNO Company L DNO
P
DNO=Does Not Offer
DNR=Did Not Report
Bell contributions represent non-bargaining employees who participate in the wellness program. The Harris 1-2-3 plan is used as the POS plan.
'Mercer/Foster Higgins National Survey of Employer-sponsored Health Plans 1998
Bell Helicopter Textron
Employee Contribution Comparison
Based on Percentage of Premium
HMO
Group m to ee Family ars-U-2 Employee Family
Survey-South* 26.0% 41.0% Survey-South* 29.0% 35.0%
Company M 3%-30% 5%-30% Survey-Manufact.* 21.0% 26.0%
Survey-Manufact.* 20.0% 26.0% Company L 0.0% 25.0%
Company L 0.0% 25.0% Bell DOH>1994 18.3% 23.9%
Company J 17.0% 17.0% Company F 18.0% 21.0%
Company K 10.0% 10.0% Company J 17.0% 17.0%
Bell-HMHP 12.2% 9.3% Company E 15.0% 15.0%
Bell-Aetna 11.2% 8.4% Company G 15.0% 13.0%
Bell DOW1994 12.2% 8.0%
Company A DNO Company I 0.0% 0.0%
Company B DNO
Company C DNR Company A DNO
Company D DNO Company B DNO
Company E DNO Company C DNR
Company F DNO Company D DNO
Company G DNO Company H DNO
Company H DNO Company K DNR
Company 1 DNO Company M DNR
PPO Indemnity
Group Employee Family Group Employee Family
Survey-South* 26.0% 44.0% Survey-South* 26.0% 36.0%
Survey-Manufact.* 17.0% 27.0% Company F 24.0% 24.0%
Company H 13.0% 17.0% Survey-Manufact.* 18.0% 23.0%
Company A 0.0% 16.0% Company J 17.0% 17.0%
Company B 12.0% 12.0% Company E 15.0% 15.0%
Company D 0.0% 10.0% Company G 15.0% 13.0%
Company M 5.0% 13.0%
Bell Helicopter DNO Company B 12.0% 12.0%
Company C DNR Bell-CIGNA 6.5% 5.2%
Company E DNO Company H 0.0% 0.0%
Company F DNO
Company G DNO Company A DNO
Company I DNO Company C DNO
Company J DNO Company D DNO
Company K DNO Company I DNO
Company L DNO Company K DNR
Company M DNO Company L DNO
DNO=Does Not Offer
DNR=Did Not Report
Bell contributions represent non-bargaining employees who participate in the wellness program. The Hams 1-2-3 plan is used as the POS plan.
•Mercer/Foster Higgins National Survey of Employer-sponsored Health Plans 1998
Environmental Impacts
Building 36
The environmental considerations for the expansion of building 36 pertain to the
autoclaves that will be housed there. Bell will be submitting a Standard
Exemption package to the Texas Natural Resource Conservation Commission
(TNRCC) to allow construction of two autoclaves. These two autoclaves will emit
a total of 1.67 tons/year (TPY) of NOx and .18 TPY VOC from the combustion of
natural gas. The autoclave curing process will also emit VOC's, however, the
emissions have not been calculated yet.
The autoclave standard exemption will comply with TNRCC regulations at 30
TAC 106.183 (formerly standard exemption#7). As part of our registration
package, Bell will be requesting a federally enforceable emission limit for the
values referenced above. This is because the typical standard exemption allows
more emissions than Bell would need.
Bell estimates there will be a total of 22 autoclaves at building 36. That would be
the equivalent of 18.37 TPY NOx and 1.98 TPY VOC. Again, the process
emissions have not been calculated.
Alliance Airport
The environmental impacts associated with the improvement of a purchased
building at Alliance Airport have not yet been determined, but are expected to be
minimal.
990615c
Exhibit 9
Benefits to City of Fort Worth
This project will result in many direct and indirect benefits to the City of Fort
Worth. First and foremost is the increase in new jobs to be created for residents
of the City and Inner City. The new jobs will be high paying, high-skilled- union
jobs offering average annual starting compensation of $32,000 - $35,000 per
year.
As indicated in this application, annual supply and service expenses spent in the
City will increase resulting in increased sales tax revenue to the City. The
increase in inventory levels as a result of the production of components for the
BA609 commercial tiltrotor will result in increased property tax revenues for the
City. As mentioned before, this inventory relates to commercial products and
therefore, will not be subject to exemption as is much of the current U.S.
Government related inventory. The expansion itself will result in increased
property tax revenues after the end of the abatement period.
In addition, because tiltrotor is such a unique technology and the technology is
owned by Bell, Fort Worth will be the focal point for that technology. Part of the
current expansion will include the Composites Center of Excellence in which Bell
will develop and apply advanced technology using composite materials rather
than metals to produce more durable and lighter weight aircraft parts. Again,
Fort Worth will be the home of that technology.
The proposed expansion includes a high visibility delivery center for the
commercial tiltrotor aircraft to be located at Alliance Airport. Simulator and flight
training facilities for the operation and maintenance of new commercial tiltrotor
aircraft will be located in Fort Worth. Customers from all over the world will come
to Fort Worth for the delivery of and training in their aircraft. The BA609
commercial tiltrotor aircraft will have a selling price of$10 — 15 million each. As
mentioned earlier, Bell has received purchase commitments for 76 BA609
aircraft. The worldwide market for the aircraft is estimated to exceed 1050
aircraft. Fort Worth will become the high-profile home of this unique product.
Tiltrotor technology will create a whole new industry which will result in an
explosion of new businesses such as suppliers and vendors to support the new
industry. New markets will be created in Fort Worth as the City becomes the
strategic location for new businesses in the tiltrotor industry.
990429e
Exhibit 10
Success of Project
Tax abatement is necessary for the success of this project. The helicopter
manufacturing industry is a highly competitive industry in which the participants
must focus on cost containment in order to stay competitive.
Cost control is particularly significant during the initial stages of production of a
new aircraft because there is no history for estimating costs of production.
Without effective cost containment during this critical initial stage, company profit
margins and therefore future growth of the company and its employment base
will suffer.
If the company is unable to succeed in its cost containment efforts, transfer of
activity to other Bell facilities and outsourcing of activities to outside companies
would be options the company would have to entertain. This transfer of activity
would result in a decrease to the workforce in Fort Worth. For example, the
Amarillo facility is currently a low-cost facility due to the benefits offered by the
Amarillo Economic Development Corporation including property tax abatements.
As a result, Amarillo is currently a very attractive location for the company's
activities.
Bell is proposing to make a substantial investment for the proposed Fort Worth
expansion. Inventory levels are expected to increase significantly and because
the inventory is not eligible for abatement, the related property taxes will also
increase significantly. Abatement of property tax on'the capital investment of the
project will aid Bell in achieving its cost containment objectives and therefore
assure that the activity currently planned for Fort Worth stays in Fort Worth.
990429c
Exhibit 11
City'of'Fort Worth, .Texas
Imavor and Council Communication
DATE REFERENCE NUMBER LOG NAME PAGE
10/12/99 C-1 7691 02COPTER 1 of 4
SUBJECT MAKE FINDINGS CONCERNING A PROPOSED TAX ABATEMENT AGREEMENT WITH
BELL HELICOPTER TEXTRON, INC.' AND AUTHORIZE EXECUTION OF THE
AGREEMENT
RECOMMENDATION:
It is recommended that the City Council
1. Find that the improvements described in the attached Tax Abatement Agreement (the "Agreement")
are feasible and practical and would be a benefit to the land and to the City after the expiration of
the Agreement; and
2. Find that written notice of the City's intent to enter into the Agreement, and copies of the Agreement
were delivered to all affected taxing units in accordance with state law; and
3. Find that the terms and conditions of the Agreement, and the property subject to the Agreement
meet the criteria of the City's Policy Statement: Tax Abatement for Qualifying Development Projects
(the "Tax Abatement Policy") as approved by M&C G-12143 (Resolution No. 2379); and
4. Authorize the City Manager to execute the Agreement with Bell Helicopter Textron, Inc. in
accordance with the Tax Abatement Policy.
DISCUSSION:
The properties subject to abatement are located at two sites: (1) in east Fort Worth at the current Bell
Helicopter Hurst Boulevard facility and (2) in north Fort Worth in the Alliance development. The City
Council has designated these properties as Tax Abatement Reinvestment Zones Number 32 and
Number 33. These reinvestment zones are located in COUNCIL DISTRICTS 2 and 5, respectively.
Project:
Bell Helicopter Textron, Inc. is a manufacturer of both commercial and military helicopters and aircraft.
The company is in the process of developing the new BA 609 and V-22 Osprey tilt-rotor aircraft, and
while the majority of manufacturing for this project will be done in Amarillo, Fort Worth has been chosen
as the location for composite manufacturing and as the location of the final customer service delivery
center. The composite center will be located in an expansion of the company's current headquarters
located in east Fort Worth on Hurst Boulevard. The delivery center will be located in a newly acquired
building in the Alliance development. The company intends to build a 20,000-square foot facility at the
Hurst location with an estimated construction cost of $1.8 million. Total investment, including personal
property and inventory, will exceed $150 million annually.
Employment:
It is estimated that the project at both locations will ultimately employ over 1,000 people. Bell Helicopter
has committed to maintain a minimum of 218 Fort Worth residents and 13 inner-city residents as
employees for the 20% base abatement amount. If either of these commitments is missed, the base
abatement will be reduced by 10 percentage points.
City of.Fort Worth, Texas
Imayor and Council communicatiol"
DATE REFERENCE NUMBER "NAME PAGE
10/12/99 C-17691 02COPTER 2 of 4
SUBJECT MAKE FINDINGS CONCERNING A PROPOSED TAX ABATEMENT AGREEMENT WITH
BELL HELICOPTER TEXTRON, INC. AND AUTHORIZE EXECUTION OF THE
AGREEMENT
Utilization of Fort Worth Businesses:
Regarding utilization of Fort Worth-based businesses, the company has committed 25% of the total of
$1.8 million in construction to Fort Worth construction contractors and/or subcontractors. If this
commitment is missed, the base abatement will be reduced by 5 percentage points. Additionally, the
company may increase the abatement level annually based on the amount spent on supplies and
services with Fort Worth-based service and supply contractors and/or subcontractors. The complete
abatement schedule is provided below.
Utilization of M/WBE Businesses:
Regarding Minority Business Enterprises (MBE's) and Women Business Enterprises (WBE's), Bell.
Helicopter has committed 24% of the total of $1.8" million in construction to M/WBE construction
contractors and/or subcontractors. If this commitment is missed, the base abatement will be reduced
by 5 percentage points. Additionally, the company may increase the abatement level annually based
on the amount spent on supplies and services with M/WBE service and supply contractors and/or sub-
contractors. The complete abatement schedule is provided below.
Abatement Terms:
Bell Helicopter would receive a graduated ten-year tax abatement on real and personal property that
could reach a maximum of 80% annually. The "abatement would incorporate Bell Helicopter's total
workforce and total supply and service spending on an annual basis at the two expansion project sites.
(Plant 1- Building 36 and Alliance).
The abatement is structured as follows:
Base abatement of 20% for base commitments that meet the following:
Fort Worth inner-city resident employees 218/13 (10 percentage points)
Fort Worth construction contracts 25% (5 percentage points)
M/WBE construction contracts 24% (5 percentage points)
Additional tax abatement increment can be achieved in any given year through the increased
employment of Fort Worth and inner-city residents and through the company's supply and service
contracting. The ability to increase the abatement above the base will be as follows:
City of Fort Worth, Texas
IyDayjor and 4:ouljel*l Communication
DATE REFERENCE NUMBER 'G NAME PAGE
10/12/99 C-17691 02COPTER 3 of 4
SUBJECT MAKE FINDINGS CONCERNING A PROPOSED TAX ABATEMENT AGREEMENT WITH
BELL HELICOPTER TEXTRON, INC. AND AUTHORIZE EXECUTION OF THE
AGREEMENT
Employment (30% cap)
® For each four 'additional Fort Worth residents, above the 218 base commitment of Fort Worth
employees, the company will obtain one additional percentage point of tax abatement with a cap of
20 additional percentage points for Fort Worth resident hiring.
4 Fort Worth residents over 218 = 1% increase in abatement over base (20% cap)
® For each Fort Worth inner-city resident, above 13 inner-city employees, the company will obtain an
additional '/2 of one percentage point of tax abatement.
1 Fort Worth inner-city resident over 13 = '/2 of I% increase in abatement over base
® There is an overall cap of 30 percentage points of tax abatement applicable to employment goals.
Supply & Service (30% cap)
• For each $100,000 spent with Fort Worth companies above the $10 million base, Bell Helicopter will
receive one additional percentage point of tax abatement (20% cap).
• For each $50,000 spent with a certified M/WBE company above the $5 million base, Bell Helicopter
will receive one additional percentage point of tax abatement. If the certified M/WBE company is a
Fort Worth company, Bell Helicopter will receive an additional '/2 of a percentage point (20% cap).
• There is an overall cap of 30 percentage points of tax abatement applicable to supply and service
contract goals.
The total tax abatement has a cap of 80% per annum. The term of the abatement is 10 years. In
accordance with state law, abatement applies only to the increase in value of the property over the year
in which the Agreement is executed.
If the maximum abatement (80%) is reached, the abated taxes are projected to be $761,841 annually.
At the 80% tax abatement level, the projected taxes paid to the City on new property and inventory will
be $1,061,752 annually. Currently taxes paid to the City by Bell Helicopter Textron, Inc. are $1,430,323
annually.
i
i
City of'.Fort Worth, Texas
tMeavor and council Communication
DATE REFERENCE NUMBER I LOG NAME PAGE
10/12/99 C®17691 02COPTER 4 of 4
SUBJECT MAKE FINDINGS CONCERNING A PROPOSED TAX ABATEMENT AGREEMENT WITH
BELL HELICOPTER TEXTRON, INC. AND AUTHORIZE EXECUTION OF THE
AGREEMENT
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that no expenditure of City funds is associated with approval of this
agreement.
MG:k
Submitted for City Manager's FUND ACCOUNT I CENTER AMOUNT CITY SECRETARY
Office by: (to)
Mike Groomer 6122 APPROVED
Originating Department Head: CITY COUNCIL
Tom Higgins 6192 (from) PICT 26 1999
Additional Information Contact:
6®aretary of the
Ardina Washington 8003 Cite of Fort Worth,'Te--