HomeMy WebLinkAboutContract 28118���� �������� l� �
STATE OF TEXAS § �������� � •
COUIliTY OF TARRANT §
TAX ABATEMENT AGREEMENT FOR PROPERTY LOCATED iN A
NEIGHBORHOOD EMPOVt�ERMENT ZONE
This TAX ABATEMENT AGREEMEIl1T {°�Agreement") is entered inta by and
between the CITY OF FQ�i.T WURTH, TEXAS (�he "Cit�"), a home rule municipal
eorporation organized under the laws of the State of Texas an�1 acEin� by and through
. its duly autharizad Assistant City Manager, and the. Fort Worth
Hausing Finance Corparation, a non-profit hausing developrnent
carporation. ("Owner"), acting by and thro�gh Jerame Walker, its duly
authorized Owners' Representati�e.
The City Council of the City of Fort Worth ("Cit�+ Council") hereb� finds and the City
and Owner hereby agree that the following statements are true and carrect and constitute the
basis upon which the City and Owner have entered into this Agreement:
A. Chapter 378 of tha Texas Loca� Government Code allows a municipality to create
a Neig�iborhood Empowerment Zane (NEZ) if the municipality detern�nes that
the crea�ion of the zone would prorn�te:
1. The creation af affordable housing, including manufactured housing �n t�e
zone; .
2. An increase in economic development in the zone;
3. An increase in the quality of social services, ed�cation, ar public safety
provided to residents of the zone; or
4. The rehabili�ation of a�fordable housing in the zone.
B. Chapter �78 of the Texas Local Government Code provides that a municipality �
that creates a NEZ, may enter inta agreements abating municipal property tax�s
on property in t�e zone.
C. On July 31, 20Q1, the City adopted basic incentives for property owners who own
property located in a NEZ, stating that the City elects to be eligible to participate
in tax abatement and including guidelines ar�d criteria governing tax abatement
agreements entered into between the City and various third parties, titled "NEZ
Basic Incenti�es" ("NEZ Yncentives"}, which is attached hereto as Exhibit "A"
and hereb� made a part of this Agreement for all purposes.
D. T1�e NEZ Incentives contains appropriate guidelines and crit�ria governing tax
abatement agreements ta be enke�ed into by the City a�cor�templated by Chapter
312 of the Texas Tax Code, as amended (the "Code"). „
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E. On September 11, 2Q01, the Fort WQrth Ci�y Council adopted Qrdinance No.
14767 (the "Ordinance") establishing "Neighbarhaod Empowernient
Reinvestment Zone No. 1," City af Fort Worth, Texas (the "Zone").
F. �wner owns certain real property located entirely within tha Zone and that is
more particularly described in Exhibit "B", attached hereto and hereby made a
part of this Agreement for all parposes (the "Premises").
G, Owner or i�s assigns plan to construct Che Required Improvements, as defined in
Section �.l of this Agreement and as described in Exhihit "C", on the Premises to
be used for as a single-family residence that will be own�r occupied. (the
"project"}. �
H. �n September 28, 2001, Owner submitted an application for NEZ incen�i�ves and
tax abatement to the City concerning the contemplated use of the Premi�e5 (the
"Application"), attached hereto as Exhibit "D" and �ereby made a part of this
Agreement for all purposes.
�. The City Council finds �hat the contemplated use of the Premises, the Requircd
Tmprovernents, as defined in Sect�on � 1.1, and the terms of this Agreement ate
cansistent with �ncouraging d�velopment of the Zone in aceordance with the
�3UT�i0505 for its creation and are in cornpliance with the NEZ Tncenti�es, the
Resolution and other applicable laws, ordit�ances, rules and xegulations.
J. The City Counci� finds that the terms of this Agreement, and the Premises and
Required Impro�ements, satisfy the eligibility criteria of thc NEZ Incenti�es.
K. Written notice that the City intends to enter into this Agreament, along with a
copy af this Agrc�ment, has been furnished in the manner prescribed by the Code
to the presiding officers of the gaverning bodies of each of the taxing units in
which the Premises is located.
1�10W, THEREFORE, the City and Owner, for and in cansideration af the terms and
conditions set farth herein, do hereby contract, covenant and agree as follows:
1. OWNER'S C(JVENANTS.
1.1. Real Proaertv Im��vements.
�wner shall construct, or cause to be constructed, an anc� within the Premises
certain improvements consisting of a single farnily residence, {i) of at least 1,20Q square
feet in size, and (ii) having a construc�ion cost upon completion of $ 60,004 including site
development costs but sueh minimum construction costs shall be reduced by any �
constructior� cost savings {collectively, the "Reqnired Impravements"). Owner shall
provide a survey of the completed home showing Required Impro�ements before the
t�ome is sold. The parties agree that the final survey shall be a nart of this Agreement and
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shall be labeled Exhibit E. Minor variations, and more substa�tial variations if approved
in writing by both of the parties ta this Agreement, in the Requir.ed Improvements from
the description provided in the Application for Tax Abatement shall not constitute an
Event of Default, as defined in Section 4. �., pravided that the condi�ions in the first
sentence of this Section 1.1 are anet and the Required Impro�ements are used for the
purposes and in th� manner described in Exhibit "D".
1.z. Completion Date af Required Impra�'ements.
� Owner cavenants to substantially complete construction of all of ihe Required
�mprovements within two years from the issuance and receipt of the building permit,
unless delayed beca�se of force majeure, in which case the two years shall be extended
by the number of days comprising the specific force majaure. For purposes of this .
Agreement, force rriajeure shall mean an event beyond Ownar's reasonable control,
including, without 3imitation, delays caused by adverse weather, delays in receipt of any
requir�d p�;rrnits or appravals from any gavern�nental authority, or acts of God, fires,
strikes, national disasters, wars, riots and material or labnr restrictions and shortages as
determined by tl�e City of Fort Worth in its sale dfscretion, wk�ich shall not be
unreasonably withheld, but shall not include construction delays caused due to purely
financial matters, such as, without liFnitation, delays in the obtaining vf adequate
financing. � �
1.3. Use of Premises.
Owner covenants that tl�e Required Impro�ements shall be constructed and the
Premises shalI be sold so that it is continuously used as the prirnary residence of the
Hame Buyer in accordance with the description of the Praject set forth in Exhibit "D", In
addition, Owner eovenants that throughaut the Term, the Required JmprQvements shall
be operated and maintained for the purposes set forth in this Agreement and in a manner
Cha� is CO11515tE11t with the generai purposes af encouraging development or
redevelopment oi the Zone.
�. ABATEMENT AMOUIliTS. TE17MS AND CONDYTIONS.
Subj�ct to and in accordance with thzs Agreement, the City hereby grants ta Owner a real
property tax abatement on the Premises, the Required Improvements, as•specifically pravided in .
this Sectian 2(�jAbatem�nt"). "Abatement" of reai property taxes only includes City �f Fort
Warth-imposed taxes and not taxes f�om other taxir►g en�ities.
2.1. Amount of Abatement.
The actual amount of the Abaternent granted under tI�is Agreement shall be
based upon the increase in value of the Prernises and the Requzred Improvernents over
their values fln J'anuary 1, 20Q2 and according to the Tarrant Appraisal DistricC, this
amount is $1,000 the y�ar in which this Agreement r�vas entered itnt�s: ��
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One Hundred percent (100%) of the increase in value from the
constz�ctian af the Required Impravements.
If tl�e total cflnstruction casts of the Required Improvements are less than as
pro�ided i� Section 1.I af this Agreement, except that such mininlum construction costs
shall be reduced by construc�ion cost savings, Owner wi11 not bc eligibie to rec�ive any
Abatement under this Ag�eement. •
2.2 Term of Abatement.
The term of the Abatement {the �"Term") sha�l begin on January 1 of the
year following tha calendar year in which the Required �mpr�vert�ent is so�d to a
Hame Buyer to be used as its primary r.esidence ("Beginning Daie")_and, unless
sooner terminated as herein provided, shall end on December 31 immediately
prec�ding the �if�h (Sth) anniversary of the Beginning Date. Upon the sale to a
Home Buyer, City shall certify that the Required Ianprovements have been
completed in satisfactian of the terms of this Agreement.
Hawever, tl�e Campliance Auditing Term wili begin an the date this agreement is
executed and will end on the expiration date of the Term.
2.3. Pratests Over Anpraisals or Assessmen�s.
Owner shal.l have the right to protest and contest any or al� appraisals or
assessrnents of the Premises andlor improvements thereon.
2.4. Abatement Annlication Fee.
The City acknowledges receipt from Owner of the required Abatement
applicatian fee of twenty-five dollars {$25.00).
3. RECORDS.. CERTIFICATION AND EVALUATION OF PRO.TECT.
31. Insnection af Premises.
Between the executian date of this Agreement and the last day af the Term, at any
time during constructian of the Required Improvements and following reasanable notice
ta Owner, the City shall have and Owner shall provide access to the Pre�nzses in order far
the City to inspect the Premises and evaluate the Required Tmpro�ements to ensure
complianc� with the �terms and conditions of this Agreement. Owner shall cooperate
fully with the City during any sueh inspection and/or evaluatian.
3.�. Certification --
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Property Owner, and Home Buyer once the proparty is sa1d, .sha13 certify annually
ta the City that it is in compliance with each applicable term af this agreement. The City
shall k�ave the right to audit at the City's expense th� financia] and busincss records of
Owner that relate to the Construction of the Project and Abatement terms and conditions
(collectiveIy, the "Records") at any time during the Compliance Auditing Term in order
to det�rmine co�npliance with this Agreement and to caiculate the carrect percentage of
Abatement available to �wner. Owner shall make all applicable Records available to the
City on the Prerr�ises or at another locatifln in the City following reasonable advance
notice by.the City and shall othervvise cooperate fully with the City during any audit.
3.3. Provision of Ynformation.
On or before February 1 fallowing the end of every year during the Campliance
Auditing Term and if requested by the City, Owner shall provide information and
docurnenta�ion for the previous year that addresses Owner's compliance with each of the
terms and canditions of �his Ag�eement for that calendar year.
Failure ia provule all irtfnrmatian within the contral af Owrter required Ly this Section
3.3 shaZl consiitute an Event of De,fault, as defined in Section 4.1.
3.4. Determinatioz� of Comnli�nce.
On or befare August 1 of each year during the Compliance Auditing Tarm, the
Ci�y s�all make a decision and rule on the actual annual percentage of Aba�ement
available to Owner for the �ollowing year of the Term and shaIl notify Owner of such
decisian and ruling. The actual percentage of the Abatement granted far a given year of
the Term is Cherefare based upon Owner's compliance with the terms and conditions of
this Agreement during the previaus year of the Compliance Auditing Term.
4. EVENTS OF DEFAULT.
4.1. Defned.
Unless otherwise specified herein, Owner shall be in default of ti�is Agreement if
(i) Owner fails to constntct the Required Improvemants as defined in Section 1�.1; (ii) ad
valorern real property taxes with respect to the Premises or thc Project, or its ad valorem
taxes with respect to the tangible personal property located on. the Premises, beeome
delinquent and Owner does nat timely and praperly follow the legal proeedures for
protest and/or contest of any such ad v�iorem real property or tangible personal property
taxes .or {iii} Home Buyer does nat use the Premises as primary residence once the
abatement begms (collectively, each an "Event of Default").
4.2. Natice to Cure.
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Sub�ect ta Section 5, if the City determines thai an E�ent of Default has occurred,
th� City shall provide a written notice to Owner that describes ttie nature of the Event of
Default. Owner shall have ninety (90) calendar days from �he date of receipt of this -
writien notice to �uIly cure or ha�e c�red the Event of Default, If Owner reasonably
believes that Owner will require additional time to cure ttte Event of Default, Owner shalI
promptly notify the Csty in writing, in which case (i) afCer advising the City Council in an
open rneeting of Owner's effarts and inCent to cure, Owner shall have one hundred eighty
{1$p) calendar days from tY�e original date of receipt nf the written notice, or (ii) if Owner
reasonably believes that Qvvner vvilI require more than one hundr�d exghty (180) days to
cure the Event af Default, after advising the City Cauncil in an apen meeting of Owner's
efforts and 'mtent ta cure, such additional time, if any., as may be offered by the City
C��ncil in its soIe discretion. � �
4.3. Terminatinr� for Event of Default and Pavment of Lipuidated Dama�es.
If an Ever�t of Default which is defined in Section 4.1 has not been cured within
ti�e tim� frame specifically allowed under Sectian 4.2, the City shal� �ave the right to
terminate this Agreement immediately. Owner acknowledges and agrees that an uncured
Event of Defat�lt will (i) harm thc� City's eco�omic development and redevelopment
�fforts on the Premises and in the vicinity of the Premises; (ii) require unplanned and
expensive additional administrative oversignt and involvement by the City; and (iii}
otherwise harm th� City, and Owner agrees that the amounts of actual damages therefrom
are speculative in nature and will be difficult ar impassible ta ascertair�. Thereforc, upon
terri�ination of this Agreement for any Event of Default, Owner shal] not be eligible for
the Abatement for ihe remaining Term and Owner shall pay the City, as Iiquidated
damages, all taxes �hat were abated in accordance with this Agreement far �ach year
when.an Event of Default existed and which otherwise would have been paid to the City
in the absence of this Agreement. The City and Owner agree that this amount is a
reasonable approximation of actual damages that the City will incur as a resuIt of an
uncured Event of Default and that this Section 4.3 is intended ta provide the Csty with
compensation for actual damages and is not a penalty. This amount may be recovered by
the City through adjustments made to Owner's ad valarem praperty tax appraisa� by the
appraisal district that has jurisdiction over t�e Premises. Otherwise, this amount shall be
due, awing and paid to the City within sixty (60) days follawing the effeciive date oF
temunation of this Agreement. In the event that all or any portion o€ this amount is not
paid to ihe City within sixty (60} days follawin� the effective date of termination of this
Agr�ement, Owner shall also be liable for all penalties and interest on any outstanding
amount at the sta�utory rate for delinquent taaces, as determined by the�Code at th� time af
the payment of such penalties and interest (currently, �ection 33.01 of the Code).
4.4. Termination af Will.
If th�; City and Owner mutnally determine that the development or ns� of the
Premises or the anticipated Required Improvements are no Ionger appropriate or feasible,
ar that a higher or better use is preferable, the � City and Owner may terminate this
AgreeTnent in a written forma� that is signed hy bath parties. It� thi,� ei���; (�?•.i�f-��i� �`�r�
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has commenced, the Term shall expire as of the effec�i�+e date of the termination of. this
Agreement; (ii) there shall be no recaptuxe af any ta}ces previously abated; and (iii)
neither party shall have any further rights or obligations hereunder.
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6.
City:
EFFECT OF SALE OF PREh�IISES.
The Abaternent granted hereunder shall vest only in �Owner and cannot be
assigned to a new awner of all or any partion of the Premises and/or Required
Improvements without the prior written consent of the City Council, which consent shall
not be unreasonably withheld provided that (i) the City CounciI f�nds that the proposed
assignee is financial,ly capable of ineeting th� terms and conditions of this Agreemenk and
(ii) the proposed purchaser agrees in wri�ing to assume all terms and condition� of �wner
under this Agreement. Owner may not otherwise assign, Iease ar con�ey any of its rights
under this Agreement. Any att�rripted assignment witho�t the CiCy Councii's prior
written consent shall consti�ute gzounds for termination of this Agreement and the
Abatement granted hereunder foliowing ten (10) calendar days of receipt of written
notice from the City to Owner.
In na event shall the abatement term be extended in the event of a subsequent sale
or assi�nment. �
N�TICES.
Al� wr�tten 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:
Czty of Fort Worth
Attn: City Manager
100Q Throckmorton
Fart Worth, TX 761Q2
7. MISCELLANEOUS.
i.l. Bonds.
Fort Wort� Housing Finance Coxporatian
1000 Throckmortnn
Fort Worth, T�xas 76102
The Required Improvements wili not be financed by tax increment l�ands. This
Agreernent is subject to rights of holders of outstanding bonds of thc: City. .
7.�. Conflicts of Interest.
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Neithe� the Premises nor any of the Required Improvernents covered by this
Agreement are awned or leased by any meznber of the City Council, any mernbar of t�e
City Planning or Zoning Comrnission or any member of the go�erning body of any taxing
units in the Zone.
7.3. Conflicts Between Documents.
In the event of any conflict between the City's zoning ordinances, or other City
ardinanc�:s or regulations, and this Agreement, such ordinances or regulations shall
control, In the event of ariy cQnflict between the body of this Agreement and Exh'ibit
"D", the body of this Agreement shall control,
7.4. Future Anblication.
A portion or all of the Premises andlor Required Impravements may be eligible
for complete or partial cxemption from ad valarem taxes as a result of existing law or
future legislation. This Agreement �hall not 'be � construed as evidence that such
�xemptions do not apply to the Premises and/or Required Tmgrovements.
'�.�. Citv Coancil Aut�orization.
This Agreement was authorized by the City Council through approval of Mayoz'
and Council Communication No. on , which, among at�er
things, authorized the City Manager to execu�e this Agreement on behalf af the City.
i.6. Estoq�el Certificate.
Any party hereto may requ�st an estoppel certificate frorn another party hereto so
Iong as the certificate is requested in cann�ction with a bona iide business purpose. The
certificate, which if requested will be addressed to the Owner, shall incl�de, but not
necessarily be limited to, statemants that this Agreement is in fuli force a�d effect
withau� default {or if an Event af Default exists, the nature af the Event of Default and
eurative actio�n taken andlor necessary to effect a cure), 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 or partses to receive the certificates.
7.7. Owner Standin�.
Owner shall be deerned a proper and nec�;ssary party in any litigation questioning
or challenging the validity of this Agreemenk or any af the underlying laws, ordinances,
r�solutions or City Council actions authorizing ��is Agreement, and Owner shall be
entitled to intervene in any such litigatian.
7.8. Venue and .Turisdiction.
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This Agreement shall be construed in aecorci�nce with the laws of the Sfiate of
Texas and applicable ordinances, ruies, regulations or policies of �the City, Venue far any
action under this Agreement sI�all Iie in th� State Disirict Court of Tarrant Caunty, Texas.
This Agreement is perfarmahi� in Tarrant County, Texas
7.9. Recordation.
A certified copy af this Agreement in recordable form shall be reeorded in the
Deed Records of Tarrant County, Texas.
7.10. 5everabilitv.
If any provision of this Agreement is held to be invalid, illegal or unenforceable,
the validity, legaliCy ar�d eniarceability of the remaining provisions shall not in any way
be affected or impaired. �
7.11. Headings Not Controllin�.
Headings and iides used in this Agreement are far :re%xence p�rpases anly and
shall nat be deemed a part oi t�is Agreement.
'�.12. Entiretv of A�reement.
This Agreernent, including any exhibits attached hereto and any documents
incorparated herein by reference, contains the entire understanding and agreement
between the City and Owner, tk�eir assigns and successors in interesi, as to the matters
contained herein. Any prior or contemporaneous oral or written xgreement is hereby
declared null and void to the extent in conf�ict with any pra�ision of this Agreement.
This Agreement shall nat be amended unless executed in wriCing by both parties and
approved by �he City Council. This Agreement may be executed in multiple
counterparts, each af� which shall be considered an arig�inal, but all of which shail
constitute one instrument.
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EXECiJTED thi day of `�' , 2Q02, by the City of Fort Wortl�,
Texas. �
EXECUTED this �day of ��� �-e� � e,,- , 2402, by Fort Worth Housing
Finance Corporation.
CITY OF FQRT WORTH: FORT WORTH H4USING FYI�ANCE
CORPORATIUN: �
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J r rne C. Walker
Assistant City Manager
ATTES
By: �r. �
Ci y 5ecretary
APPROVED A TO FORM AND LEGALITY:
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Cyn�'hia G�rcia
Assistant City Attorney '
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M 8z. C: . ' , ` � �
ATTEST:
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STATE OF TEXAS §
COUNTY 4F TARRANT §
BEFORE ME, the undersigned authority, an this day personally appeared
�PicL �R.P..G.`�"r��R , Assistant City� Manager of the CTTY OF FORT WORTH, a municipal
corporation, known to me to be the person and officer whose name is subscribed to the foregaing
instrument, and acknawledged to me that the same was the act of Ehe said CITY OF FORT
W�RTH, TEXAS, a municipal corporation, that he was duly aufhorized �o perform the sarn� by
appropriate Mayor and Council Communication of the City Council af the City of Fort Worth
and that he executed the same as the act of the said City for the pu.rposes and consideration
therein expressed and in the capacity Cherein stated. '
GIVEN UNDER MY HAND �ND SEAL OF OFFICE this %�� day oi
DG�--f�e..p..t, .2002.
��..e�. �r�•�.,,.�--�--
Natary Public in and for a��Y:°U� ROSELLA BARNE5 '
the State of'I'exas 2���� M47'A�YPUBLIC
� ,��� 5tate of Texas
�PJSC��//� ��ri/� �,��� Comm. Exp. 03-31-2005 =
tiY�N
Notary's Prinied Name .-� • � W a ,.� , ,, . , �. �,
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STATE OF TEXAS §
COUNTY 4F TARRANT � §
BEFQRE ME, the undersigned authority, on tkus day personally appeared J� wo �-. e�• �%i ���
�±� e v�`� of the Fort Worth Hausfng Finance Corporation, a Texas non- profit corporation,
known to me ta be tY�e person whose name is subscribed to the fo�egoing instrtxment, and
acknowladged to rne that he executed the same foz' the puzpases and caztsideration therein
expressed, in the capacity therein stated and as the act and deed of the Fort Worth Housing
Finance Corporatian.
G�VEN UNDER MY HAND AND SEAL OF OFFICE this
of ��� e � � � �,- , 2002.
�,�.� ��G��-.
Notary Public in and for _ _ _ _ _._� _� ��
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the State of Texas .•���°����,.
Notazy's Printed Name
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MY COMMl5SI0N EXPIRES -
Janvary 27, 20a3
12
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Exhibit A: NEZ Incentives
Exhibit B: Property Descrigtion
Exhibit C: Project description including kind, number and location of the praposed
improvements.
Exhzbit D: Applica�ion: (NEZ) Incentives and Tax Abateinent
Exhibit E: Final Survey
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CITY O�' F'ORT WORTH
N�IGHBORHOOD �,MPOWE�MENT ZONF {TIEZ) �ASIC IPlC�f�T'IV�S
Adapted 6y fhe Forf Worth City Gouncil on July 39, 2009 (M&C G-13208 R}
Amended 6y the Fort Worth Cify Council on Apri12, 2002 (M&C G-93580), JuJy 23, 2pR2
(M&C G-�3&62)
l. C��I�RAL PU�POS� AfVD O�J�C f1V�S
Chap#er 378 0� fihe Texas l.acai Gavernment Co�e allows a municipality ta create a
NeigY�borhood Empawerment Zone (NEZ) wh�n a"...municipality defermines that the creation
of the zone would promcate:
{1 } the creation of afFordable ho�sing, including manufacturecl housing, in the zone;
(2) an increase in econamic dev�lopm�nt in the zone;
(3) an increase in tF�e quality of social services, educatian, or public safety provicfed to
residents ot the zone; or
(4} the reF�abilitation of affordable housing in the zone."
The City, by adopting the fo�lowing incentEves, �will promote afforclable housing and
economic d�ve�opment in the NEZ. NEZ incentives rrvill not be granted af�er the NEZ expires as
defined in the resol�tion �esigr�ating the NEZ. For Eac� NEZ, the Cify Council may approve
addi�ional terms and inceniiv�s as �erm�tted by Chapfer 378 of the Texas Local Government
Code o� by City Council resalution. How�ver, any tax abatement awarded befoTe th� expirafiQn
of a NEZ sha[I caTry its full term according ta its tax abatemenfi ag�-eement ap�roved by the City
Council. .
As mandated hy s#ate law, the property tax abatemenf under t�is palicy applies to �he
owr�ers of rea! property, No#�hir�g in fi�e policy shalf be cons�rued as an ob[iga�ian by the
Ciiy o� �ort Worth ta approve any tax abatement application.
Il. DE�'IN1710NS
"Abatement" means the �Full or pa�tia� exemp#ion from Cify of Fort Worth ad valorem taxes on
eligible properties for a p�riod af up to 10 years and an amaunt of up to 1QQ% of the increase in
appraised value (as reflected on the certifi�d tax roll of the appropria#e county appraisal district)
resulfing frarn improvements. El�gible praper�ies must b� lacated in the NEZ.
"Base Value" is the value of t�te property, excluding fand, as determined by the Tarrant County
Appraisaf District, during the year rehabilitation oecurs,
"Building 5fandards Commission" is the cammission created under Sec. 7-77, Ar#icfe IV.
Minimum Buifding Standards Code of the For# WQrth City Code.
"Capr�al Investment" includes flnly reai property impro�emenfs such as new faciiiiies and
structures, site improveme�ts, facility expansiort, and facility modernizatio�. Capital investmen�#
does NOT include lar�d acquisifion casts andlor any existing improvements, ar personal proper�y
(such as machinery, eQ�ipment, and/or sup�lies and invenfary).
"City of Fort Worih Tax A,batement Policy Statement" means th� policy adopfed 6y City Council
on February 29, 2000.
"Commercial/Industrial Development Projecf" is a development project which �ropases to
construct or rehabiliiate commerciallindustrial facilities on property that is (or meets the
requirements fo be) zoned commercial, industrial or mixed use as defi�ed �y fhe Ci�fy of For�
Worth Zoning Ordinance.
"Comrnunrfy Facilify Development Project" is a development project which propases �o construct
or rehabilitate community facilities on property that a[lows such use as defined by the City of
For� Wor�F� Zoning Ordinance.
"Eligi6le Rehabilitation"
Rehabilitation does NOT
an�/�r supplies).
includes anfy physical improvements ta real properly. Eligible
includ� personal property (such as furniture, appliances, equipment,
"Gross Flaor Area" is measured by taking the autsid� dimensions of the �uildin� at each floar
level, except ti�at portion of the basement used only #or utili#ies or storage, and any areas within
f�e building used for ofF-street parl�ing.
"Mrnimum Building Standart�s Cocle" is Article IV of the Far� Wor#h Ciiy Code adoPted pursuant
to Texas Loca{ Government Code, Chapters 54 and 214.
"Mirtority Business Enterprise (MBE)" and "Women Business Enterprrse (WBE)" is a minority or
woman owned business that has received certificatifln as either a cei�ifed MBE or certi�fied
WBE by either th� North Texas Regiqnal Certification Agency (NTRCA} or the Texas
Department vf Transportafion {TxDot}, Highway Division.
"Mixed-Use Developmen� Projeci" is a de�elopmenf projecf which proposes to construct ar
rehabifitate mixed-�se facifities in which reside�tiaf uses constitute 2Q percent or more ofi the
total gross floor area, and office, eating and ent�riainrnEnt, andlor retail sales and service uses
constitute 10 percent or mare of the tota! gross floor area ar�d is on praperty that is (or me�ts
the requirements ta be) zonecf mixed-use as described by the City a� Fort Wortf� Zoning
Qrdinanc�.
"Multi-family Development Projec�" 9s a development project which pro�oses to construct or
r�habiiitaf� mufti-family residentia! �i�mg units on pro�erty that is (or meets fF�e requiremer�ts ta
be) zoned mufti-fam�ly or mixed use as defined by the City of �art Worth Zaning Ordinar�c�.
"Rernvestment Zor�e" is an area designated as s�ch by the Gity af Fort Wnr�h in accardance
with the ['roperty Redevelopment and Tax Abatement Acf codified in C�apter 312 of tf�e Texas
Tax Cade, ar an area designated as an enter�rise zone pursuant fo the Texas Enterprise Zone
Act, codified in Chapter 2303 of the Texas Government Code.
III. IUfUNfCI�AL �ROP�RiY �'peX �A�FM�NTS
A. ��Sl��fVilA� �ROF`���Y1�5 LOCpo���1 IN A N��: �UI�� A�AT�IIflEfdT FOR �
Y�ARS
. 9. For residential praperty purchased before NEZ designation, a homeowner shal� be
e�igibl� to appfy far a tax abatement by meetEng the fo�iowir�g:
a. Property is owner-occupied and the primary residence of fhe homeowner prior to
ths final NEZ designation. Homeowner shal] pravide proaf of awnership by a
warranty d�ed, afFidavif af heirship, ar a probated will, artd shall show }�roof af
primary residence by nomestead exemption; and
b. Home�wner must perfarm Eligible Rehabilitation an the property after NEZ
designation equal to ar in excess of 30% of the Base Value of the property; and
c. Property is not in a tax-delinquent status when fhe aaatement application is
submittecE.
2. �ar residenfiaf property �urchased after NEZ d�si�nation, a homeowner sF�all be
eligible #o apply for a tax abatement by meeting #ne followi�g:
a. Pro�erty is newly constructed or re�abilitated after the date of final NEZ
� designatior�; and
b. P�operfy is nwner-occ�pied ar�d is the primary residence of the �omeowner.
Homeowner sfial[ pra�ide proof of ownership by a warranty deed, affidavit of
heirs�ip, ar a probated will, and shall shaw praaf of primary residence by
homestead exemption; and
c. For rehabi[itated properky, Eligible Re�abilitation costs on the praperty shall be
equal to or in exc�ss ot 3Q% ofi th� Base Value of the property. The seller 4r
owner shall provide the City information ta support rehabilitation costs; and
d. Pra}aer�y is not in a tax-delinquent status when tne abatemenf application is
submitted; and
e. Proparty is in confo�mance with #he City of Fort Worth Zoning Ordinance. �
3. For investor owned single family property, an investar shall be eligible #o apply far a
tax abatement by meeting th� followi�g:
a. Property is newiy consfructed or rehabilitated by the in�estor after NEZ
designation; ar�d
b. For rehabilitated property, Eligible Re�abilitatian casts on the property shall be
�qual ta ar in excess of 30% o�€ tl�e Base Value of the property; and
c. Proper�y is nof in a tax-definquent status when the abatement application �s
submit�ed; and
d. Prap�rty is in confarmance with the City of Fort Worth Zoning OrdinaRce.
�, MULTE-FAIViILY ��V��OPf��iVT PR�J�CTS LOCAiFD lN �► IVEZ
1. Ful] Abatement fo�' 5 years.
�n order to b� eligible for a prope�y tax abatement, upon completion, a newly
constructed or rehabiiifated mUlti-�amily de�elopment projecf in a NEZ must satisfy
the fol�owing:
Af ieast twenty percent (20%) afi the #otai units cons�ructed ar ret�abilitated shall
be affordal�le (as defin�d by the U. S. Department of Ha�tsing and Urban
Development) ta persans with �ncomes at flr be[ow eighty percent (80%} of area
m�dian income �ased an family size and such units sf�ali be set aside for
perso�s at or below 80% of the inedian income as defined by the U.S,
3
De�artment of Ho�sing and Urban Development. Gity Council may waive ar
reduce the 20% affvrdabifity requiremer�f an a case-by-case basis; and
(a) For a multi-family de�eiopmenf praject constructed aft�r NEZ designation, the
prflject must pro�ide at least fi�e (5) residential living units OR have a
minimurr� Capital Investment of $200,00�; or
(b) For a rehabilitation project, the prop�rty must be rehabilitated aft�r NEZ
designation. Eligibfe Rehabilifation costs on the property shafl be at least
30% ofi the Base Vafue of the properky. Such Eligible Rehabilitation costs
must come from the rehabilifation o# at least fve (5) resideniiai li�i�g units or
a minimum Capital Investment of $200,000.
2. 1%-� 00°/Q Abatement of City Ad Valorem taxes up to 'f 0 years
If an applicant appfies far a tax abatemenf agreement wiih a term of more than five
y�ars, this section shall apply.
Abatements for muffi-family development projects for up to 10 years are subject to
City Councl appraval. The applicaRt may apply with fhe Housing Depar�ment for
such abatament.
Years 9 throuuh � of ihe iax Aba�em�h� Aareemen�
Multi-family pro��cts�shali be eligible for 100% abatement af City ad valorem faxes
for years one through fi�e of �he Taac A�atement Agreement upon the satisfaction of
the folFowing:
Af feast iwenty percent (2Q°/a} of t�e total units consfr�cted or rehabilitated shail be
afFordable (as defined by the U. S: Department of Housing and Urban Develapment)
to persons with incomes at or below eighty percent (80%) of aTea median incame
based on famiEy size and such units shall be set aside for persons at or below 80% of
t?�e median income as defined by ih� U.S. �eparkment of Housing and Urban
Devefopment. City Council may waive or reduce the 20% afFordabiGty requirement
o� a case-by-case basis; and
a. For a m�lti-tamify de�el�pmer�t project constructec� after NEZ designation, the
praject musi provide at least fiive (�} rasidential living units OR have a minimum
Capita! In�estment of $200,000; or �
b. For a rehabilitaiian project, the proper�y must be rehabilitated after NEZ
designa#ion. Eiigible Rehabi[itation casts on the prap�rfy shai! be at least 30% of
the Base.ValUe of the property. 5uch Eligbfe Rehabi[itation costs m�si eome
from the rehabilitaiion of at least five (�) residentia! living units or a minimum
Gapital Investment of $200,000.
Years 6�hrouqh 40 of' the iax Abatemen� Aareement
Multi-farnify projecfs shall be eligi�le for a 1-100�a aba�ement of City ad valorem
taxes for years six through ten of fhe Tax Abatement Agreemen# upan the
satisfaction of the following:
a, At least fwenty percent (20%) of th� total units canstructed or rel�abilitated sha31
be •affordable (as defined by the U. S. Department of Housing anc! Urban
Development) to persons wit� incomes at or below eighty percent (80°/a) of area
4
median income based on fami�y size and such units shali be set asid� for
persons at or below $0°/n of the median incame as defiined by the U.S.
Department of Housing and Urban Developmenf. Cify Council may waive or
reduce the 20% affordabilify requiremeni on a case-by-case basis; and
1. �ar a m�alti-family da�elopment �r�ject constructed afier NEZ desi�natian, the
project must provide at least five (5) residentia3 li�ing units �R have a
rr�inimum Capifal In�estment of $2p0,004; or
2. For a rehabilitation project, the property m�st b� rehabilitated afEer NEZ
designafion. Efigible Rehabilitation cflsts on th� property shall be at least
30% af the Base Value of �he praperty. 5uch Efigihle Rehabilitation costs
must come from ihe rehabilita#ion of at least five {�) residential living units or
a minimum Capital Investment of $24p,000.
b. Any other terms as City Council of the City of Fort Warth deems approQriate,
ir�cluding, but nof limited fo:
�. �tilizatian vf Fort War�h companies f�r ar� agreed upon percenta�e af #he iotai
costs for construction contracis;
2. utiEization of certifi�d minor�ty and women awned busin�ss ent�rprises for an
agreed upan percentage of the total costs for cons�rucfion contracts,
3. praperty inspection;
4. commit io hire an agreed upon percentage af Forf Worth residents
�. commit ta� hire an agreed upon percentage of Central City residents
6. landscaping; _
7. tenant selection plans; and
8. managemant plans.
C. COM�II]�RCfA�, IAL�USi�iCA� A�I� COMCIAUNEYI( FACILITl�S ��V�LO�M�IVi
pRQJ�CTS LOCfA7�D EN A N��
�. �'ull Abatement far 5 years.
In flrd�r fo be eligible for a proper�y tax aba#ement, a newly constrUcted or
rei�abilitated commercial/industrial and community facilities devela�ment project in a
NEZ must satisfy the fallowin�:
a. A commerciaf, industria� or a community faciliti�s d�vefopment project
canstructed after NEZ designation must have a mir�imum Capital Investment of
$7�,aaa; or
b. F'ar a rehabili#ation project, it m�st b� reF�abilitat�d after N�Z designa#ion. Eligible
Re�abiGfation costs on the proper�y shall be at least 30% of the Base Value af
the proper[y, or $75,004, whichever is greater.
2. 1%-100% Abatement of City Ad Valorem taxes up to 10 years
If an applicant applies for a tax abatement agreemen� wifh a term of more than �v�e
years, tY�is sectio� shail apply.
Abatem�rrt agreements for a Commercial, Industriaf ancE Community Faciliiies
Developme�t projects for up to 10 years are subject ta City Council approval. The
applicant may apply with the Econornic and Commur�ity Development Depar�ment far
such abatement.
Years 1 throuah 5 of the iax Abafemen# p,areem�n4
Commercial, End�strial and Community �acilities Development projects s�all be
el�gible for ��0% abatement of City ad va�arem taxes far the first �ve years of the
Tax A�atemenf Agreement upon #he sa#isfaction flf the following:
a. A commercial, industrial ar a communiiy faciliti�s d�veCopment praject
construcfed after NEZ .designation must ha�e a minimum Capital ln�estme�t of
$75,000; or
b. For a rehabiEitation project, it must be rehabilitated after NEZ designation. Eligible
Rehabilitation costs on the property shall be at least 30% of the Base Valu� of
th� property, or $7�,004, whiche�er �s greater.
Years G throuah 10 of ihe Tax Abatement Aqreemenf
Cammercial, Ir�dustriai and Community Facilities Development p�-ojects shall be
eligibfe for �%-100°!o abatement of City ad valorem taxes for years six thraugh ten of
the Tax Abatement Agreement upon t�e satisfactian of fhe #ollowing:
a. A cammercial, industrial or a cammunity facilities develapment project
constr�cted after NEZ desi�nation must have a minimum Capital Investment af
$75,000 and musf ineet the r�quiremenfs of subsection (c) below ; or
b, For a reha�ilitation project, if must be rehabilitated after NEZ designafiion. Eligible
Rehabififafion cosfs an t�te proper#y shall be at leasf 30% of the Base Vafue of
the proper�y, or �75,000, wt�ich��er is greater and meet the reguirements af
subsection {c) below. �
c, Any ather terms as City Council of the C9ty of Fort Wor�h deems appropriafe,
inc�uding, but not limited ta:
1. ufilization of Fo�i Worth companies for an agreed upon percer�fage of the tota!
costs for construefion contracfs;
2. utilization ot certified mir�ority and women owned business enterprises for an
agreed upon percentage of the total costs for construction contracts;
3. cammit to hire an agreed upan percentage of Forf Worth residents;
4. commit to hire an agreed upon percentage o�F Central Ci�y residents; and
5. landseaping.
D. IV�[X���US� DE1/�L��iNENi PRAJECTS ��CAT�� IiV A N€�
1. Full Abatement for 5 years.
In order to be eligible for a praperty tax abafiement, upan c�m�letion, a new[y
constructed ar rehabilitated mixed-use devefopment �raject in a NEZ must satisfy the
following: •
a. Residential uses in the project canstitut� 20 p�rcent or more af the total Gross
Floar Area of the praject; and
b. Office, ea�ing and entertainmant, andlor refaif sal�s artd SetViG� uses in the
pro�ect constitute '10 p�rcent ar more of the total Grass Floor Area of fhe prflject;
and
0
{1 } A mixed-use c�evelopment pro�ect construc#ed after NEZ designation must
have a minimum Capital Investment of $200,000; or
(2) For a rehabifi#ation project, it must be reha�ififafed. after NEZ designation.
Eligible Rehabilitation costs on the property shali be .at least 30% of the Base
Val�e of the property, or $2�0,000, whichever. is greater.
2. �°10-100% Abatement of City_Ad Valorem taxes up to 14 years
If an applicant app[ies for a tax abatement agreement with a term of mare than five
years, this section sf�ail apply.
Abatements agreemer�ts for a Mixed Use Development project5 for up �0 10 years
are subject to City Council approval. The app�icant may apply w�th the Ecanomic and
Community Develapment Department for such abat�ment.
Years 1�hrouaf� 5 of �he Tax Abatement Aareement
Mixed Use Developrnent projects shall be eligible for 100°/4 abatemeni of C�ty ad
valorem taxes fior the first �ve year's o# the Tax Abaterr�ent Agreement upon the
satisfaction of the following:
a. Residential uses in the project cflnstitute 24 percent or more af the total Gross
F�oor Area af the projec�; and
b. Office, eating and enfer�ai�ment, andlor retail safes and senrice uses in tf�e
project c�nstftute 1� percent or more of the tota! Gross �loor Area of the project;
and -
c. A new mixed-use development pro�ect consiructed aft�r NEZ designaiion must
have a minimum Capital Investrrment of $200,OQ0; or for a rehabilitatian projecf, it
must be reha�ilitated a�fter N�Z designa�ion. Efigible Rehabilitafiion casts on the
property shall be at least 30% of the Base Val�e af the property, ar $2�0,000,
whic�ever is gr�ater.
Years 6 ghrouqh 10 of the iax ,4k�a�emenfi Aareemenfi
Mixed Use Developmenfi projects shall be eligible for �-1D0% a�atement of City ad
vaEarem taxes �or years six fhraugh fen af the Tax Abatement Agreement upon the
satisfaction af the following:
a. Residentia! us�s in the prnject constitute 20 percent ar more of tf�e total Gross
Floar Area of the project; and
b. Difiice, eating and entertainment, andlor retail sales anci service uses in the
pro�ecf constifute 10 percenf or mor� of the total Gross Floor Area of the �roject;
c. A new mixed-use developmenf project constructed after NEZ designatinn must
ha�e a minimum Capital Ir�vestment af $200,000, ar for a rehabilitation project, it
mt�st be rehabifitated after NEZ designation. Efigible Rehabiiitation costs on th�
properfy shal[ be af least 30% af the Base Value of the property, or $2a0,000,
whichever is great�r; and �
d. Any other terms as City Council of the City of Fort Worth deems apprapriate,
incfuding, bu# not limited #fl:
1. utilizatian of Fort Worth eampanies for an agreed upan percentage of the
totai costs for canstruction contracts;
2. u#ilFzation of certified minority and wamen owned business enterprises for
an agreed upon percenta�e of the fotal costs for constructiar� contraets;
3. property insp�ction;
4. commit to hire an agreed upon percerrtage of Fort Warth residents
5. commit to hire an agreed upon percentage of Centra! City resEdents
fi. landscaping;
7. tenant selection plans; and
8. management plans.
�. A�Ai�M�NT G[JID�LIN�S
Ifi a NEZ is loca#ed 'm a Tax Increment Financing District, City Council wi[I determin�
on a case-by-ease basis if fhe tax abatem�r�t incentives in Section 111 will be offered
ta eiigible projects. Eligib�e projects must meet all eligibility requirements speeified in
Secfion I I i. '
2. In order to be eligible to apply for a tax abatemenf, th� property owner/developer
m ust:
a. Not be delinqu�nt in paying praper#y taxes for any property owned by the
owner/developer ; and
�. Not have any Ciij+ of �ort Wo�th liens tiled against any property owned by the
applicant prope�ty ownerldevefoper. "Liens" Enclude, but are �ot iimifed to, weed
li�ns, demalitiort liens, board-uplopen struc#ure liens and paving liens.
3. Properties under a contract for deed are nat eligib�e for fax abafement.
4. Once a NEZ proper#y owner of a residential properiy (including multi-famiiy) in ihe
NEZ satisfies the crit�ria set forth in Sections II C.A, E. �. and �.2. and applies for an
aba#err�ent, a praperty owner must ent�r into a fax abatement agreement wifh fhe
City of Fort Worth. The tax abatement agreement shalf automatically terminate if fihe
pro�erty subject to th� fax abatemen# agreement is in viblation af tf�� City of For�
Worth's Minimum Builcfing Standards Code and t�ie owner is convicted of such
�iolation.
5. A tax a�atement granted under the criteria set forth in Section I[I. can only be
granted once for a property in a NEZ for a maxirr�um te�m af as specified in the
agreement. If a�roperty an which tax is heing abated is sald, the City will assign the
tax a�atement agreement for the remaining term once the new owner submits an
appiicafior�.
6. A property awnerldevelop�r of a muftifamily de�elopment, commercial, ind�strial,
community facilities and mixed-use development }�roject in the NEZ who desires a
tax abatement under Sections 1lI.B, C ar D m�s�:
a. Satisfy tt�e criteria set forth in Sections III.�, C nr D, as ap�ficable, and �Sections
III.E.1 E.2; anr! E3. and
b. Fiie an application with tne Hausing D�partrnent or the Economic and
Commun�ty Development Depar�ment, as app[icabie; and
c. Th� pro�er�y awner must enter into a tax abatement agreeme�t with the City of
�'ort Wortn. In addition to the other terms of agreement, the tax abatament
agreement shall provide thaf th� agreement shail automatically terminate if the
owner receives one canviction af a vioiation of the City af Fort Wor�h's Minimum
Bu�lding Standards Code regarding the prope�y subject to the abatement
agreement during the term of ihe tax abatement agreement; and
d. If a praperty in the NEZ aR which tax is being abated is sofd, ti�e new owner
may enter ir�to a tax abatement agre�ment on the property for the remaining
term.
F. A����lCATl�N �'��
T�e application fee for residenfial tax abatements gaverned under Section 11�.A is
$25.
2. The ap�lication fee for mulii-family, commercial, industrial, commuriEty facifities and
mixed-usa developme�t prajects governed ur�der Sections 1II. B, C.1 and D,1, is one-
half of flne �ercer�t (0.�%) of the proposed project's Capital l�vestment, nat to
exceed $1,fl00. Tne appiication fee wiEl be refunded upon issuance of certificate of
�final occupancy ar�d ance the pro�er�y owr�er enfers into a tax abatement agreement
with the City. O�herwise, the Application Fe� shalf �at be credited ar ref[�nded to any
party for any reason.
1V. _ FI�� WAIVEi�S
A. E�1Ci�L� R�ClPI�Ni51P�QPERiI�S
1. ln arder to be eligib�e tfl appfy for fe� waiWers, the prQperty ownerldeveloper must
a. Not be definquent in paying proper#y taxes far a�y praperty owned by tf�e
ownerlde�eloper or appficant; and
b. Nofi have any City liens filed against any property owned by the applicant property
ownerldevebper, including but not limited �o, weed liens, demolifion liens, board-
up/apen structure liens and paving liens.
2. Prape�ties u��er a contracf for deed are not eligible far developmenf fee waiv�rs.
3. In arcler for De�efopmeni Fees andlor fmpact Fees to be waived for new construetion
or rehabiEitatian projects lacated in the NEZ, a property awner musf subrnit ar�
appGcation to fhe Ci#y.
Appro�al of �he apt�licatron and waiver of the ��es sFtall' not be deemed fo be
appraval o� anv asneci of the aroiect. �efore canstruc�ion. fhe anplica�i mus�
ensure that �he pralec� is located in ihe correc# zonina distr[ci.
�. 9�V�LOf�M�Ni F��S
Once the ApplicatioR for NEZ l�centives F�as be�n approved by the City, the following
fees for services perfarmed by tf�e City o�F Fort Wor�h for projects in the NEZ are waived
for new construction projects or rei�abilitatior� projects that expend ai least 30% of tF�e
Base Value of the praperty on Eligible Rehabififatian costs:
1. All building permit re[ated fees (including Plans Re�iew and lr�specfions)
2. Piat appiication fee (inefuding concept plan, preliminary pla�, final plat, short form
replaf)
3. Baard of Adjustmenf application fee
4. Demo[ifEon fee
�. Structure moving �ee
6. Community �acilities Agreem�nt (C�'A} applicatian fee
7. Zoning appficafPon fee
S. Stireet and ufility easement vacation applicatio� fee
Other development related fees nat specified above wil! be considered for approval by
City Councif on a case-by-case basis.
C. IM�,4C� F��
1. Single family and mttlti-famiiy residential d���lopment prbjects in th� NEZ.
Automatic 100% waiver of water and wastewater impact fees will be applied.
2. CorrEmerc�ai, industriai, mixed-use, ar community facility developm�nt projects in the
NEZ.
a. Automatic 140% waiver of ►rvater and wastewafer impact �'ees up t� $55,000 or
equivalent to two 6-inch meters fior each commercial, industrial, mixed-use or
community facility developme�t project.
b. Ifi the project req�ests an impact fee waiver exceeding $�5,000 ar requesting a
waiver for lar�er andlor more than two fi-inch meter, then City Cou�c�l approval is
required. Applicant may request fihe additionai amount of impact fee waiver
fihraugh the Hausing Depar#m�nf.
V. R�L�po�^� OF CIiY Lf �NS
The folfowing City liens may be released for eligible properties or projects in a NEZ:
R. W�ED LI�h�S
The following are eligible to apply for release ofi weed liens:
'1. Single unit owners performing rehabififatio� on their properties.
2. Bui�ders or developers cons#ructing rtew homes an vacant lots.
3. Owners pertorming rehabifitafio� on m�lti-family, commercial, industrial, mixed-use,
or cornmunity facili#y properties. .
�. De�elopers cons#ructing r�ew mu[ti-family, commercial, industrial, mixed-use o�
cflmmunity facility development projects. �
�. ��flh1O[�[�'IOM LI�NS
�a
Builders or developers developing or rehabilitating a property are eligible to apply far
release of demolition liens for up ta $30,000. Release of demalition liens in excess of
$30,000 is subject to City Council approval. �
C. BOA�DeUP10P�M SiRUCYUR� l.IEAIS
The following are eligible to appiy for reiease of board-uplopen structure liens:
1. Single unit owners perfarming rehabifitatior� on tF�eir �roper�ies.
2. : Builders or developers constr�acting new single family homes an vacant lots.
3. Owners performing ref�abilitati�n on multi-family, cammercia�, indusfriaf, mixed-use,
or cammunity facility proper�i�s.
4. Developers construciing mulfi-family, comm�rciai, industrial, mixed-use, or
communifiy facility projects.
�. PAVING l.I�NS
The fallawing ar� eligibie ta apply for release of pa�ing liens:
1. Single unit owners perForrning rehabifitation on their properties.
2. Builders ar develvpers canstructing new homas on vacant Iots.
3. Owners performing rehabilitation on multi-family, commercial, ind�strial, mixed-�se,
or community facility properties.
4. ' D�velopers constructing multi-family, commercial, indusfrial, mixed-�se, or
community faeility projects.
�. �LICI��E RECIP1FNiS1�RO��R�[�5
1. In order to be eligible �o apply for release of City fiens, the pro�erty ownerlde�eloper:
a. m�st not �e definquent in paying property taxes for any property owned by
t�e ownerlde�eloper
, b. must n�t �a�e been subject to a Buildit�g Standards Comrr�issian's Order of
Demaiition where the proper�y was demolished within t�e last �ve (�) y�ars; ar�d
c. must not have any City af F'ort Wor�F� liens f�fed against any other prap�rty owned
by fhe applicant property ownerlde�eloper. "Liens" incl�des, but is not limited to,
weed liens, demolition liens, board-uplapan structure fiens a�d pav�ng liens.
2. Properkies under a contract for deed are nat efigibl� for refease of Ci�y lier�s.
VI. PROC��U�L ST��S
/�. APPLICAi10�15U�M[S5l�N
1. The applicant for NEZ incenfives under Sections III.A, B, C. D., IV, �nd V must
camplete and submit a City of Fort Wor�h "Appiication for N�Z lncentives" and pay
the appropriate applicatian fee to tt�e Housing Department ar the Economic an�
Communifiy Development Departmen#, as ap�licable.
11
2. The applicant for incsnfives ur�der Sections fll.C.2 and D.2 must also comQlefe and
submit a City of Fort Worth "Application for Tax Abatement" and pay the appropriafe
application fee tn the Economic and Communiijr Developmenf Department. The
applicafion fee, review, eval.uation and approval wi[I be gaverned by City of Fori
Wort� Tax Abat�m�nt Poiicy 5tatement for Quaiifying De�elopmer�t Projects.
�. C�Ri[h ICATI�NS ��F� AP��IC�4ilONS UAID�R SECYIOIVS Cil.�►, �, C.1, D.1, IV,
��1 D V
The Hous�ng Depar�ment will review the application for accuracy and
campleieness. Once complete, Housing Department wilf cer�ify eligibility af the
appEicatian based an the criteria set for�h in Section III. A, 6, C.9, D.1, IV, and V of
this palicy, as ap�licable. Once an application is certified, the Housing Depar�ment
wilf infarm appropriate departments administering the incentives about t�e certified
application. An orientation meeting with City departments and the a�plicant may be
scheduled. Th� departrnents include_ �
a. Housing Department: property tax abatement far resideniial properties and multi-
family development projects, release of City liens.
b. Econom�c and Community Development Department: pra�erty tax abatement for
commercial,
industrial, community facilities or mixed-�se �evelopmertt projects.
c. Develapment Departmenf: deveiopment fee vuaivers.
d. Water Department: impact fee waivers.
e. Other ap�raPriate departments, if app[icable.
2. Once Development Department, Water Depar�ment, �canomic and Community
Development Depar�ment, andlor other appropriate department receive a certified
application frorn the Housing Department, _ each departmentloffice shall fill ou� a
"Verification of NEZ Incentives for Cer�ified NEZ Incenti�es Application" and return it
to the Housing Depar�m�nt for record keeping and tracking.
�. APPL,ICATI�W REVI�W ARlD EVALUA��OI� �4R A�PLEC,4ilONS
1. Property Tax Abatemeni for Residentia� Properties and Multi-family Development
Projects � �
a. �or a campleted and cer�ified application far no more fE�a� five years of tax
abatemenf, with Council approval, th� City Manager shafl execute a#ax
ai�a#emenf agreem�nt wit� the applicant.
b. For a completed and ceriifi�ed multi-fami[y development praject app[icafion for
more than five years ofi fax abatemenf:
(1) The Housing Department will evaluate a completed and certified app[icafion
�ased on:
(a) The project's increas� in the valua �f the tax base.
(b) Costs to the City (such as infrastructure participation, etc,).
(c) Percent af canstruction contracts cammitted to:
(i) Fort Worth based firms, and
(ii) Minority and Womer� Owned Business Enterprises (MIWBEs}.
(d} Qther items which may be negotiated by tha City and the appiicanf.
�F�
(2) Consideration by Council Cnmmittee.
Based upan fhe outcome of the evafuation, Housing Department may present
the application to t�e Cify CounciPs Economic Development Committee.
Should the Housing Department preser�t the app[icafEon to tf�e Economic
Developmenf Committee, the Committee will cQnsider the application at an
o�en meeting. Ti�e Committe� may:
(a) Appro�e the application. Staff will then incorporate the app[ication into a
tax abatement agreement which will be sent to the City Council with the
Camrnittes's recammendation to approve the agreemer�t; or
(b) Request modificatians fo the application. Housing Department staff will
discuss the suggest�d madifications with the applicant and then, if the
requested modificafions are made, resubmit the modified applicafion to
the Committee for cansiderafion; ar
(c} Deny th� appEication. The applicant may a�apeal the Commitiee's finding
by requesting the City Council to: (a) disregard the Committee's finding
and (b) instruct city staff to incorporate the applieation into a tax
abatement agreement for fufure consideration by the City Council.
(3} Consideration �y the City Council
The City Counc'i[ reiains sale authorify to approve or deny any tax abatement
agreement and is under no abligation to approve any tax abatement
application or tax abatement agreement. The City of �ort Worth is under no
obligatian to p�ovide fax abatement in any.amaunt or vafue to any applicant.
c. Effective Date for Approved Agreements
All tax abatements appro�ed by ihe City Counci! will become e�fective or�
January 9 of the year follawing the year in which a CertificatE o� Occupancy (CO)
is issued for the qualifiying development project (unless otherwise specified in the
tax abatemer�t agreemen�}. Unless otherwise specified in the agreement, taxes
levied during the canstruction of the project sha�[ be due and payable.
2. Property Tax Aba�emenf for Commercial, Inc�ustrial, Cammunity Faci[ities, and
Mixed-Use Development F'rojects
a. For a campleted and certified application for rto more than five years of tax
abatement, wi#� Council approval, the City Manager shall �xecute a tax
abatement agreement with the applicant.
b. F'or a campleted and certifiied application for more than �ive years of tax
abatement:
(1) The Economic and Community Development Depa�ment will evaluate a
completed and certified application based on:
{a} The project's increas� in th� vafue of the fax base.
(b) Costs to fhe City (such as infrastructure participation, efic,).
(c} Percent of construction co�tracts cammitted to:
(i) Fort Worih based firms, and
(ii) Minority anc� VWorr�en owned Business �nterprises (MIWBEs).
(d) Other items which may be negotiated by the Cffy and the applicant.
13
(2) Consideration by Council Cammittee �
Based upor� the outcome of the e�aluation, the Econorriic and Community
DeveJopmen# Department may present the application to the City Council's
�conomic De�elopment Committee. Snould the Economic and Community
Development Departrnent present the application to the Econofnic
Development Committee, the Cammittee will consider the application at an
apen meeting. Th� Committ�e may:
(a) Apprave the application. Staff will then incorporate the applicafion into a
tax abatement agreement which will be sent to the City Council with the
Committee's recammendat�an to approve the agreement; or
(b} Request madifications to the application. Economic anci Communi#y
Development Departmer�t sfaff will discuss the suggested modifications
with the applicant and then, if #he requested modifications are made,
resubmit the madified applicatian to the Committee for co�sideration; or
(c) Deny the a�plicatian. The applicant may appeal the Cammittee's finding
by req�esting the Ciiy Cauncil to: (a) disregard tf�e Committee's finding
and (b} instruct city stafF fio incorporate the application into a tax
abatemeRt agreem�nt for futur� consideration by ihe City Counci[.
(3} Consid�ration by the City Council
The City Cauncil retains sole authority to appro�e or deny any tax abatement
agreem�nt and is under na � oi�figation to approve any tax abatement
a�plicatian or tax abatement agreement. The Cify of �ort Worth is under no
obligation to pravide tax abatement in any amount or value to any applicant.
c. Effecti�e Date for,4pproved Agreements
A11 tax abatements approved by the Gity Go�ncil will b�come effecti�e on
January � of the year following the year in which a Certificate of Occupancy (CO}
is issued for the qualifying develapment project {unless Qtherwise specified in the
tax abatement agreement). Unless atherwis� specified in #he agreement, taxes
levied dUring #t�e construction of the project shall be due and paya�le.
3. De�elapment Fee Waivers
a. For certified applicatians of developmer�t f�e waEvers that do not require Council
approval, tF�e Development Department will review tY�e c�rtifi�d applicani's
applicatiart and grar�t appropriate incenti�es.
b. Fflr cer�ified appiicatiorts of development fee waivers that require Counci�
approval, City sfatf wifl review the certified applicant's application and maice
appropriaie recflmmendatians to the City Council.
�4. Impact Fee Waiver
a. For certifiec! appiications of impacf fee waivers that do not require Couricil
approval, the Water D�partment wili review the certified applicant's appfication
and grant apprapriate incenfi�es.
14
b. For cer�ified applications af impact fee waivers that require Council approval, the
Water Department wi�f review the certified applicartt's applicatian and make
appropriate recammendations to the City Councif.
5. Release of City Li�ns
For certified applicatioRs of release of City iiens, the Housing Department wifl release
the appropriate liens.
1lll. O"i��� RUL�S ��R7AIRIW� TO �ROF��R7Y �AX A�Ai�IVi�hli
/�. R�CA��URE
If the terms of fhe tax ahatement agreement are not met, the City Council has fhe right to
cancef or amend the abatement agreement. In tne event of cancelEation, the recapture of
abated taxes shall b� limit�d t� the year(s) in which the default occurred or continued.
B. �NSP��TION AAID �li�APICEAL V�Rl1�ICATIOfV FOR MUL,iI��',�MILY, COMM��CI�►LI
IN�USiRIA�, COIVIIVIl11V[iY �ACiL[T1�S AN� M[X���US� D�V��OPiV��i�Y
PROJ�CiS
The terms of the agreement shall include fihe C�ty of Fort Warth's right to: (1) review and
verify the applicant's financiaf statem�nts in each year during the life of the agreement
prior to g�-anting a tax abatement in any given year, (2) conduct an on sife inspection of
tF�e project in_ each year during the life of the abatemen# to �erify compliar�ce with fhe
ferms of fhe tax abatemen� agreement.
C. �V�,�IJA�ION �Q� MULTIoF�AflAILY, COIMfYiV���CIAV [P1�US�RIAL., CO3UIMUF�ITY
I�,�CILITI�S AN� MIX��-U5� ��V��O�'M�NT PFtOJ�CTS
Upon. complet�on at e�nstrucfion of the facilities, the City shall no less than annually
e�afuate each project receiving ahafement ta insure compliance with the terms flf the
agreement. Any incidents of non-compliance will be reported to the City Cauncii.
4r� or befior� �ebruary 'Is� of ev�ry year during �he li�e ofi �he agreemeni, any
individual or entity receiving a tax abatemer�t �From �he City of �ort l�ar�h shall
provide informa�ion and documentafian which details the proper�y owner's
compliance with the terms ofi �he res�ecfiv� agreemenf and shall ceriify that �he
owner fs in compiiance with each applicable term of fche agreemenf. �ailure fo
report this �n�orma4Pon ancf 4o provide the �required cer�ification by the abov�
dead�ine shall resulf in G�11C@II�#IOTI of agreemenfi and any fiaxes abated in �he
prior year being due ar�d payable.
D. EFF�CT OF SALE, ASSIGN11flENT OR LEAS� O� PRO�ER71(
lf a property in the NEZ on which tax is being abated is sold, the new awner may e�ter
into a fax abatement agreement on the prope�ty for the remaining term. Any sale,
assignment or lease af the proper�y which is not permitted in ti�e tax abatement
agreement results in cancellation af fhe agreement and recapture o� any taxes abated
after the dafe on which an unspecified assignment occurred.
`F�
VIII. O�F1E� IPlCENT1VFcS
A. Plan reviews of praposed de�elopment projects in the NEZ wilf be expedited �y the
Development Department.
�. Th�e City Council may add the folfawing incentives tQ a NEZ in the Resoiution adopting
tne NEZ:
1. Municipaf safes tax ref�nd
2. Homebuyers assistance
3. Gap financing
4. Lar�d assembly
5. Conveyance of tax foreclosur� properties
6. lnfrastructure im�ravements
7. Support f�r Low Incame Housing Tax Credit (l�IHTC} applications
8. Land use incenti�es and zoning/building cade exemptior�s, e.g,, mixed�use, density
banus, parking_exemption
9. Tax lncrement F'inancing (TIF}
10. Pub�ic lmpravernent District {PID)
11. Tax-exempt bond financing
� 2. New Model Blocks
93. Loan g�arantees
14. Eq�ity investm�nts
15. �ther ince�ttives thaf will e�Fec�uaie the infient and purposes of NEZ.
16
Exhibit B
31�8 Eastcrest Court Lot 3, Block i Eastcrest Addition
Exhibit C
Pr�ject D�scription
Single Family Resi�ence .
90% Brick Veneer
1500�i900 square feet
3 �edroomsi2 Baths
iwo ear ga�ages .
Arched Windows at Front of House
F�ont Yard Landscaped
Microwa�re with buiit-in Vent-A-Hood
Wood Burning �ire Place
Buili-in 5ecurity Sys#em
Comp�ter Area with CPU & Printer with a dedicated telephone line
Vaulted Ceiling in Master Bedroom and Living Room
French Doors
Separate Tub/Showe� in Master Baihroom
Garden Tub in Mater Bat�room
,- .
�'a�T�o�Tx �
App�icatian No. �� � � f � / �
C�TY OF FOR�" 'VVORTS
1�TEZGHS4RHOOD E�PU'V�dER1�N7' ZONT (NEZ) P]�.OGRA.M
PROJ�CT CERT�'ICATION A.PPL�CAT�ON
FORM B FOR INVESTOR O'VVNERS {SI��IGLE �AIVYIZ.Y 4NL'�
x. APPLICATi�N CB'ECK LIST
Please sub�nii ilae_ fallov,+ing docurnentation witY� each property request�ed: -
� A complete�`apg�ica�io�;�t��n �;�. ��-�L'• `� ° �
•.�� �.jC�,: � A list of��.12;P�r�pertiesxo�uvr�ed.,by the applicant in �'ort Vliort�i
_ ,, � ..� �bq h_• ,
[� A�a��icaiion fee of $25,�0 (far tax a.batee�ti�nt app�ica�ions�only)
❑ Proof of ownershi�, such as a v�razraxcty d�;ed, affi�avit of heirship, or a prabat�d will OR
. evir�enca of siie�controZ, such� as option to buy - - ��
❑ Tit�e abstract�of the properiy�(op�ional).. ; : , . - '
For Rehabiiitatfon P'roiects �nlvc �
"❑ �or a praj ect in fhe pla.z�ning stage, p�sase submit a com�leted set of I�e�abxlitatio� '
,. �`tReznadel) Plan and a list o� eli�ibl� xehabilitatioii,c�sts*: �(fa� app�ieations n� fa� .-�
aba�ements �nd development fee waivet-s for re�ab projecis onky)
❑ Once a project is compleied, please subzx�t praof d��the eiigib�e rehabi�ita�ion cost�* such
� as is�voices, contracts, or receipts. (fox applicafions of tax abatemeuts only)
* Bligible reb.abilitatir�n i.ncludes onl� physical improvaments to real groperty. It daes NOT anclude personal
proparty such as furniiure, app�iances, equipment, and/or supp�Zes. Tata2 elia ble rehabil��ation cos�s shaIl eqnal
io nz exeeed 30% af the Tartant CvUnty Appraisal District (TA➢},ap�raised value of the structure during tIie
yeaz zehabilitation occurs. , , �
z � II. —AppT'fcant / AG�N'� TNF�RM.t�.T��T�I — --� — — — ,
1. Applica��: � 2. Contact Persvn:
- fd�r_,__ �----�� �st,�.a� F��s��o�,,s�r�� . 3 . ���v,��.� ��'�'
� �.� .al.(�{�Z'055: s.e ,_� ���._..�e�, x.._ ___ _ ri �. _— -, ._. _d -
. . ��I'88t � �I�.
4. Phone no.: �l� _�7/-T3l� .. �. Fax Na.:
6. Email: � y�/� )��y) /+ ,lfj��J+' �+
��6`l� L Lrf i "'YY�,��' i�iL � i✓ i
7. Agent (if a�y}
8: Add.ress: . _ _ _ . - - -
, . _ Street
,.:
9�. Phone no.: . •
21. Emait:
_ Gity
lU. Fa� No.:
�--T.Y,� 7'� 1d �
sta�� ZI�! '
�f]'��� �� -
Siate Zip
� - s � _
� If yo� need �urther rnformaiian or claz��caiioa, please contaei Chun-Y Lu at {817) �i1-73$1 � ox
�3ea Cura at {817) 871-8036.
�
_ �
�
�
1
��
� �ORT�ORTH , E
, ��� .
III. PRUPERTY �LIGIBILITY ' � —� .� —� —. — _
1. Piea�e Iist dovvn the acidresses and legaI descriptions of the property �vhera you are �pplyzng
fox N�Z i,ncentives and otlier properties yau o�vcrn i� Fort Wortli, Attach metes and bou�ds
deseription if no address ar Iegal deseription is availa�Ie.
Ta61e �.
Propert,y' Ownexship.
Address
� (Praject Lacation)
i �
. i .
� _
I
:,
�; _
7ap Legal Descriptia� �
Code Subdivision Lot Na. � Block No. I
- -� . -- - - �- - ,
� ����°f� � - -- , d�� I �-. .
- �- - � � � �.��
i.
- - ��.�-����-��-�,�� - ���,��
- - ��'�� - � - , � -�.. -
-- . - . .-- _ _ f - -- �-I 1
J � -- - -- - - � - I
I .- . . - � �
I
(1'[e$se attach additional sh�eets of papex as needed,} � � �
� ��. Far �each praperties listed in Tab1�e� I;•pTease ch-eci� the boxes belo�v io indicate if: . ��
• there are taxes due; or ��1� . .
� ther� axe City Iie�s; or �„� � ,
• yau have beer� subj�ect to a Builr�i.ng Stan.dards Co���ion's C3xder of Demolitaon where the
property was demol%shcd within the last five years. � p �
� k
� Tabte ,� Pro�erty Ta�ees and CiL.y Liens �
. . Address � Propez-iy � - -- �xty Liens on Property -
. --: ���t� _ -, � :;:.= -3: Ta.xes �=W':eed EoaFi-d-uglOpen _,'..DemaIitioz�•� Paving -� Or.dar of-. �
. � "' ... . " ? . �_��• � � -:, -:Du� �- .n, ��iens � "S�ucttyre Liens -�� Liens � :- Liens Demolition� � .,. .
�I . - � — .� -- , � i— ❑ - � -� ❑ —
�irt;� �:� � c� ' _ � �t - � rz. . , , - — � — ❑ -
w ��-r"A .�"" � - ' _ ' ' �; Ws: ;',r''.1 ,�,T.'��, - , , . ?� � .
� . . .: �.- _,:.�� . u �r �'�_ - — �-- _.. � � . � � ..
_ �.__Ei: ..
...�..� ,
. � . . . � 0 . _ 0 := � � ._ .� , �= � =� � - � � . � .
! �. . . . � � � � -- C� � - 0 -- ❑ . . ❑ - C] -
I
� . - , . � -� - o � - o . � . _.,.ti � : - ., o- � � . '
� ' � _ s� ,�w �" 4 � :: c ' -� � � ' ❑ ❑ �
- � � �— -'- � ' — -❑ � �
1 I �
� I
- (Please attach aciditiun�I s�iee#s of paper as needed.) - — � � - - — -
3. D�a you own othex pro�erties under oiher �ames? ❑ Yes �io �
�Tf Yes, pl.ease specify
4. Does t�e praposed development cflrjform wiih Ciiy of For# V4'orth Zaning? f[] Yes ❑ No
�� S. Is�this property ui�der a contract for deed? 0 Yes � �No
2
0
a
d Fv�.T �aRrx
6. Has the canstxueiaan on the property been completed ar is it in the p�anning stage?'�hat
type of canstructian? . �
❑ Cozzstn�ction Comnl�ted �'1 Undex Constna.c�iaz� �'In P1axulin� Sta�e
❑ New Constiv.ction [] Rehab ❑ New Conslruction �0 Rehab �New Constru�t�an [] Rehab
7. If the construct�on on the property has been caznpleted wvhen this application is snhmii#ed,
wl�en was the work done?
8. - If it is a rel�ab praperty, does (or will} the reh�.bilitat�on work* do�e an the prape�rty eqnal
to at least 30% of t�e Tarr�t County .t�.ppraisaI Dis�-ic� {TAD) as�essed value of the
s�ructure durxng the year re�iabi�itation (renr�odeled) occ�zrred`? ❑ Yes ❑ No
*Only physical improvexnents to xeal �aroperty is eligi,bl0, DO N4T include personal property
such as �nituxe, appliaxices, �qtupment; andlor supp�ies.
.N..� . . ti TN��NTTVES —� — —� — � —• — — — — —
_.._� •_ , .. . . ,_..
:�; � � . . �
- 1.� Wha'°�ncentives are yon aAPI�*ing for?; .� _�
� Mc�iieznal PropertY Tax Abatezz�enis .. • . � .
� �Develoumenf Fee T►'4''aiver"s - �
, � All build�ing permit related �f�es (inciuding Plans �eview and Inspections) "
� How much is your total dev��aprnent costs? $,�� ��'�,,� d
Ho� zxiuch is the total square footage of yotir pro�ect? ����� squa�e feet �
�•�� �� Plat application �ee (in�ludi�ng concept plan, prelizninary p�at, final plat, short farni rcplat)
� Board of Adjustmeni a�plica#ion fee
❑ I]emolition fee �
• " � [] Str�icture maving fea � „�
.. , . � C`omrra�unityFaciliti�s:Agreeznent.-{�FA) app�icatiQn:fee.•. , ... . .- _ _: �. . ,. .
. � ��aning ap�Ii�atio� fe�� • � � • � � . . •. ; . .
�
� Stree� and utilzty easernent
�n.t�act F�e Waivers '
� Impact �ee waiver �� . -
�:. . .
Meter Si�e .��� How rnany meters7 ��� .•� ,
' ReIease nf Ciiv� Lien� �
❑ Weed liens .
� [] ' Board up/open �tructure liens .
; . ` ; [] � Dez�iolition �iens . � .
; � J ❑ Paving liens
�
�
�
�
€
F�ORT �ORTH
�
V. ACKNOWLEDGMENT� � —' — — — — — — - —
I�iereby certiiy tha.t fhe infpzmation provid.ed is t,�ze and accurate to the best of rny kuoa,ladge. I�.ereby
acl�o�rledg� tk�at I have received a capy of NEZ Basic In.centzves, whi.c� gov�rns the gxani�ng of ta�
abataments, fee�waivers and `rel�ase of City liens, ana t�,at any VIOLATION of �khe terms of the NEZ
Basic Incantives or MISREpR�SE�A��pN s�aZl cons�ifut� g�-ounds for rejectian o�an applicatzon ax
terr�nation af incen�tives .at the dis�retion of the City. . �
I understand thai the appraval o.f fee waivers and other inceritives shalI not be deemed ta be approval of
any aspect of the p.roj eet. I understand that I am responsible in obfainiz�g requ�red permits and
in�pections from the City and in ens�ri�g ��e p�-oJect is Ioeated in the carrect zoning district,
I agree to provide any addit�onal infarmaiian for deterzniniz�g etzgibility as raquested by the City.
.-� �'"��1�( �p �. �f�l��;� 11.cSYi�t.�.�, . (�� l� ,.. _ .
�(T`Y�ED NAME) [A ORIZ�D S�G�VATURE � ����
_ ) r A'7`E)
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E�ectronYc version ofthis %rm is available byrequest. YleasE call �17-872_7381 to req�es't�a eo .
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For Office Use Only — _-- -- -- - - _ _ �
_';. -�pplzcat�on Na,. .� , � �
��� �� �' Tn w�-iich NE�� � Conf`�rm witil-Zonin 7 .�
TAD ID � � . g • `�O.Yes ❑No
� � Contract foz- deed? . ❑ yes �j. Na Type? [�f .New construction ❑ �teh�.b -
Con:stniction comple�ivz� date? ❑ Befoxe NEZ �
[� Aft�r NEZ Ownexsbip �� Yes� � No
Rahab at or hi gh e r t h� 3 p%? ❑ yes ❑ No Cansistent with the NEZ plan? � yes �
Tax current on this. ro e? ' b��4
P. P�' �� Yes ❑ No Ta.x currei�t on o�her ro erfi�s?
City �ens an this pr�perty? .�. : , � . � � Yesc� Q No .� -
City liens on�cither properties?
� Vireed liens ❑ Yes � No � Weed liens
❑ Yes � No
� Board-up/op�n structure Izens ❑ Yes � No � � � .
Baard-up/apen structur� liens [] Yes � No �
.� Demalition liens ❑ Yes 0 No � Derriolit�on liens
❑ Yes �/] No
e Paving liens ❑ Yes � No � Paving �iens �
❑ Yes � Na
, + Order of demolition ❑ Yes [7]( No � Order of demolition �
Gertifred7 , ❑ Yes � No
❑ Yes ❑ No Certifiad by . Date certification issued? �(� �l ��
If nc�t certif ed, reasan � . � 1
� Referred to: ❑Economic DeveIopment []Houszn
— : — .- _ _ _ - g ('�I}evelopmen.t- �,Wat�r -OCade �TPW �
Revised A�gust 23, 2��1 - � �
4 -
City o�FoYt WoYth, Texas
Mayor a�d Cou�ci� Con�r�unication
DATE
91� OIQ2
� su�a�c-r
REF�REiVC� NUMBER LOG�IAME PAGE
��� 9�3�_ _�� . _ _ ���Ez ` 1 of 3
AUTHOR{ZATION TO ENTER INTO TAX ABATEMENT AGREEMENTS WITH THE
FORT W�RTH HOUSiNG F[NANCE CORPORATION FOR THE DE�/ELOPMENT OF
SIXTEEN SINGLE-FAMILY HOMES FOR THE EASTCREST SUBDIVISION LOCATED
IN THE STOP SIX NEIGHB�RHOOD EMPOWERMENT ZONE
REC�MMENDATION:
It is recammended fhat the City Gouncil:
Approve �he Fort Worth Housing Finance Carporation �FWHFC) application for Mun9cipal Property
Tax Abatem�nt for the �asfcrest Subdivisian; and
2. Find that the statements set far�h in the recitals of the attached Tax Ab�tement Agteements (the
Agreements) with FWH�C are true and �correci; and
3. Authorize th� City Manager ta enter in#a tax abatement agreernents with �WHFC far the developm�nt
of sixteen single-famify hom�s in the Easicrest Subdivision focated in the Stop Six �Neig�borhood
Ern�awerment Zone (NEZ), in accordance wiih the NEZ Ba�ic Incentiues.
D1SCU5S10N:
The FINHFC is th� developerlowne� of the Eastcrest Su�bdivision in the 47Qa�B{ock af East Berry Street
an� Eastcrest Court loca#�d in NEZ No. 1: � � �
The FWHFC applied fo� mUnicipal property tax abatemer�t under the NEZ. Basic Incenti�es (M&C G-
13208R c�ated Jt�ne 5, 2a02, M&G G-13580 dated April 2, 2002, as amended, and M&C G-1�662R
dated July 23, zaa2, as amended). The Housing Department has reviewed tt�e application and certified
that the property meets t�e �ligibifify criter�a to receive NEZ municipal property iax abatemen#. The
NEZ Basic �nc�n�ives offers a five�year municipa� praperiy #ax abatement of tt�e increase� value of
�rriprovemer�ts to a devaloperlowner of any new home �onstructed within a NEZ.
Upon execution of t�e Agreements, the totaf assessed value of eacf� home ira the Eastcrest 5ubd��ision
used fior cafculatir�g municipal property tax wil! be frozen far a fi�e-year period, stariing on January 1, of
the year #'allowing the year in which the home is sold, at the pre-impro�ement value of each lot as defned
by the Tarrant Ap�raisal District (TAD) an January �, 2002, as fallows:
• Pre-{mprovement TAD Vaiue of imp,rovements $ -0-
�. Pre-Impro�ement TAD Value of Land $1,O�O�per lot ..
� Total Pre-Improvement TAD Value $�,D04 per lot
��ty of .�'ort YYorth, Texas
Mayor an� Council Commu�ic�tio�
DAT� RE�ER�NCE NUMB�R LOG I�AM� PAGE
91� dID2 � .��� 923� 05NEZ ` � 2 of 3
5L1B,]�Ci AUTHORIZATI�N TO EN ER INTO TAX ABAT�MENT AGREFMENTS WITH THE �
. FORT 1NORTH HOUSING FINANCE C�RpORATION FOR THE DEVELOPMENT OF
SIXTEEN S1NGLE-�AMILY HOMES FOR THE EASTCREST SUB�IVIS�ON L�CATED I
_ IN THE STOP SlX NEIGHBORHOQD EMPOWERMENT ZONE
Address
3'I OD Eastcrest Court
3101 Eastcrest Caur�
3'f 04 Eastcrest Caurt
� � 105 Eastcrest Court
3108 Eastcrest Caurt
3109 Eastcrest Court
31 � 2 Eastcrest Court
. 31 � 3 Eastcrest Court
� � 311 � Eastcrest Ca�rt
3120 Eastcrest Court
� 3124 Eastcresf Court
3128 Eastcre�t Court
� 3132. Eastcrest Cour�
3133 Eas#crest Caurt
3136 Eastcr�st Court
� 3137 Eastcrest Court
Leqal Descr9ation
Lot 10, Block 1, Eastcrest Addition
Lot fi, Block 2, Easfcrest Add9tion'
Lot 9, Block 1, Eastcrest Addiiion
Lot 5, Bloek 2, Eastcrest Addition
Lot 8, Bfock 1, Eastcrest Addition
�.ot 4, Block Z, Eastcrest ,4dditior�
Lot 7, Block �, Eastcrest Addition
Lot 3, Biocic 2, Eastcrest Addition
�.ot 6, B1ock 1, Eastcrest Addition
Lot �, Black 1, Eastcrest Addition
Lot 4, Block 1, Eastcrest Acic��tian
Lat 3, Biack �, Eastcrest Addition
Lot 2, Bfock 1, Eastcrest Addition
Lo# 2, Blocic 2, Eastcrest Adciition
l.ot 1, Block 1, Eastcres# Addition
I�of 1, Block 2, Eastcrest Addition
, FWHFC expects to complete canstruGtion on c�r before ,�une 30, 2D43, and sel! the sixteen homes to
n�w owners. Upon the sale of each �ome by FWHFC, tne Housing Departm�nt staff will prEsent the
propos�d ass�ssment of the tax abatement agreements to #h� City Council for appraval if the n�w
� owner meets all e{igible cr�teria as �stated in the NEZ Basic Incentives,
�WHFC vuill i�vest $1,6QO,OQO to construct sixteer� single-family }iomes in the Eastcrest 5�bdivision..
I The location af ti�e prnpased develapment,..#ypical e{evatinn, ar�d proj�ct descriptian are atfiached to t1�is
Mayor and Council Commun9cation. The municipal praperty tax on the impraved vaf�e is estimate� at
$5�8 per ho�se per year ar a total o� $44,640 ov�r the fve-ysar period. �
On August 'f 3, 20Q2,� the abov� proposal was endorsed by th� Ecanomic and Community De�elapment
Committ�e for City Council approval.
The Eastcrest Subdivision is iacated in COUNCIL DlSTRICT 5.
�C`ity o�'.F'art Worth, �`exas
Mayor and Cou�c�l �Garr�mur�icatior�
DATE� REFERENCE NUMBER LOG NAME RAGE
s/� aio� � C�� 923� - aSNEz �- _ � ot 3
sug��cY . AUTHORIZATfON TO ENT �R INTO TAX ABATEMENT AGREEMENTS WlTH THE
FORT WORTH HOU5ING FINANCE CORF'ORATION FOR THE DEVELOPMENT OF
S�XTEEN SINGLE-�AMiLY HOMES FOR THE EASTCREST SUBDiViSfON L.00ATED
IN THE ST�P S1X NEIGHBORHQOD EMPOWERMENT ZONE
FISCAL INFORMATIONICERTIFfCAT10N:
The �'inance Director cer�ifi�s thai this ac#ian wifl have na material effect on Gity funds. �
� � �
i RR:n
5ubi[nitted far City Manager's
Ofree by;
Raid Rector
�riginating Department Head:
]e�rome Walker
AdditionAl Inforrss�tion Contact:
Jerome Waiker •
I FUND ' ACCOUIVT I CEI�ITER I AMOUNT CITY SECRE'TARY
, {ta)
614� ` � `
I f
� � � I � .
7537 � (from) � ; APPROVFD 09114J02
� I�
7537 � ` �