HomeMy WebLinkAboutContract 28169STATE OF TEXAS ; , , . , ���'Y ,���������� �
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COUNTY OF TARRANT _
CTTY QF FORT WORTH AND TARRANT C�UNTY COLLEGE DISTRICT
AGREEMENT TO PARTiCIFATE �N THE TAX YNCREMENT REINVESTMENT
ZONE Ni7MBER FDUR, CITY OF FORT WORTH, TEXAS
This Agreement is made and entered into by and between City of ForE Worth,
Texas {"City"}, a Texas home-ruIe municipality, and Tarrant County Callege District
{"Taxin� Unit").
liiil Il. � ►1�CY►'].� �: �
WHEREAS, on November 25, I997, t�e City of Fort Worth City CounciI
approved Ordinance No. 13259, establishing Tax Increment Reinvestment Zone Number
Faur, City of Fort Worth, Texas {"'I'IF DisCrict"), in accordance with Che Tax Increment
Financing Act, as amend�d {V.T.C.A., Tax Code, Chapter 31 l} (the "Act"), to promote
development and red�velopment in the medicaI district area af the City of Fort Worth
throuah the use of tax increment financing; and
WHEREA�, ihe Act provides thateach�taxina unit levying taxes an real property
in a reinvestment zane is not required to pay inta the Cax increme�t ft��d any of its tax
increment produced from property located in the TIF District unless such taxinb unit
enters into an a�reernent to do so with the governing body of the municipaiity that
cr�ated t�ie T�F' District; and
WHEREAS, a tax increment agreement under the Act may be entered into any
ti�rzae before or after the zo�e is creaEed, and such agreement may include any conditions
far payrr►ent of the tax increment into the fund and must specify the portion of the tax
increment to be paid into the tax increment fund and the years for which that tax
increment is to be paid inta the tax increment fund; and
WHEREA�, City and Taxi�ng Unit wish to enter into an agreement defininb t�e
tcrms and conditions under which Taxing Unit will con�ri�ate a portiUn of its t�:.
increment Co the T�F District Tax Increment Fund;
NOW THEREFORE, City and Taxing Unit, �n �onsideration of the t�rms and
conditians and cover�ants contained herein, hereby agree as follows:
ARTZCLE I. DEFINITIOI�S
Terms not d�fined k�erein shaIl be construed as defined in the Act hereinafter
c�efined, ar through normal usage if not defined in �he Act. The following terms sk�all
have the fallowin� meanings when used in this Agreement:
"Act" shall mean V.T.C.A., Tax Code, Chapter 311, the Tax Increment Financina Act, as
amended.
"Captured Appraised Value" shall mean the total net taxable appraised value of the
real property located within the TIF District for the year less the Tax Incr�ment Base of
the TIF Taxing Units.
"Praject PIan a�d Reinvestme�nt Zone Financing PIan" shall m���t rh�_ nroject and
financing plan for the develapment or redevelopmen� of the TIF Distri�;t -
"TIF District" shall mean Tax Increment Reinvestment Zon� Number Four, City o� Fort
Worth, Texas, established by the City Council Ordinance I3259, on Navember 25, .I997,
a co�y of which ardinance is attached hereto and mar�ed E�hibit "A". .
"TTF Taxing IInits" shall mean those politzcai subdivisions of the State of Texas
authorized ta impose ad valorem taxes on property located within khe TIF District.
"Tax �ncrement" shali mean, for any given year, the amount of real property taxes
levied and collected �y a TIF ilnit for the year an t�ie Captured Appraised Value o�
taxable property located in the T1F District.
"Tax �ncrement Base" s�all mean the total appraised value of a!I real property taxable
by the TIF Taxing Units and located in the TIF Diskz'ict an January 1, 1997, the year in
which the TIF District was established.
"Tax Increment F�uzd" shall mean a fund consisting of all the Tax Zncrement deposits,
alI revenues from the sale of tax increment bonds or notes, revenues from the sale of any
property acquired as part of the Project Plan and Reinvestment Zone Financin� Pla�, and
other revenues ta be used in the development or redevelopment of the TiF District.
ARTICLE II. AGREE�IENT T� PARTIC�PATE AND PAY TA�Y INCREMENT
INTO T� TAX INCRENIENT FUND
.
�C G 1:���Cke!�,�}-�ed F>� it� �:' ' b , �
a�a ��e'rbit-`$", khe Taxing Unit a;rees to pa�ticipate in fundin$ of the TIF
District and annually shall deposit into the Tax Increment Fund an amount equal to one
hundred percent (100%) af it's Tax Increment as defin�d in Articie I.
ARTICLE III. LIMIT�+iTI4NS ON TAY INCRENiENT DEP05TTS
The maximum amount of "project costs" (as defined in Section 311.002 of the
Act) that may be paid through Tax Incrernent deposits directly and/or through
development agreements or other oblinatians of the City secured by Tax Increment
deposits is �6Q,OOQ,OOQ.00.
ART'YCLE IV. FIN�L ACCflT„NT�N� OF TIF FUNDS
After all pro�ect costs l�ave been paid ar at the time of the terminatio� of tk�is
Agreement, the City shall prepare and provide the Taxing Unst with a final accou�ting of
t�e funds d�posited to and disbursecE from the Tax Increment Fund. Any funds rerr►aining
in the Tax Incremerit Fund Following the final accounting by the City shall be paid to�the
Taxing Units in proportion to each taxing unit's share of the �ota! amount of Tax
Increment paid ir�to the Fund.
ART�CLE V. RESPONSIBXLZTY F4A ACTS
City and Taxing Unit shall each be responsible for the sole neglig�n� acts of their
officers, agents, emplay�es ar separate contractors. In the event of joint and concurrent
negligenee of both City and Taxing Unit, responsibiIity, if any, shall be apportioned
co:mgaratively in accordat�ce with laws of the State of Texas, without howe�er, waivinb
any governmental immunity available to City and Taxin� Unit under Texas la�v and
without wai�ing any defenses of th�; parties under Texas �aw.
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ARTICLE VI. ADMINISTRATYON OF AGREEME�3T
This Agreernent shall be administered on behalf of the City by ti�e City Manager's
Oifzce of the City, or the designee thereof.
ARTICLE VIL DEL�VERY ADDRESS
Wheriever this Agreement r�quires or permits any consent, approval notice,
request, proposaI, or demand irom one party to the other, the consent, appro�al, nakice,
request, propasal, or demand must be in writing ta be effective ar�d shail be deli�er�d to
t��e party intended to receive it at that party's address shown belavcr:
If intended for City, to:
If intended for Taxing L7nit, to:
Economic Develop�nent Director
City of Fort Worth
1Q00 Thrackmorton Street
Fort Worth, Texas 76102
Board of Trustees
Tarrant County Callege District
ISOa Hous�an Street
Fort Worth, Texas 76102
or to such other address as eith�r party may request, in writing, from time to time.
ARTXCLE VIII. GOVERNING LAW Ai+1D VENUE
This Agreement is made subject to th� provisions of the Charter and ordinances of
City, as amended; the Texas Constitution, codes and statues; and all other applicable sCate
ar�d general laws, regulations and requirements, as amended. Venue for any cause of
action ari.sing hereunder shall lie exclusively in Tarrant County, Texas.
ARTICLE iX. TERM
This t�breement is effective January 1, 2003, and sHall include �any tax increment
d�rzved from the 200Q tax year, for which taxes are due by January 31, 2001. The
Agreement shall continue thraugh D�cember 31, 2022, ar until such time as the
maximum arnount of proJect costs have been paid through Tax Increment deposits.
ARTICLE 7�. ENTIRE AGREEMENT/AMENDNiENTS
This Agreement embodies the complete understanding of City and Taxing Unit,
and shall supersede all ora� written previous and contemporary agreements between the
parties relating to matt�rs herein. This A�reement may be amended, modified, or
supplemented only by an instrument in wri�ing executed by City and Taxing Unit, a copy
of whic� wili be pravided to ali TIF Taxing Units, and must be consented to in writing by
such TTF Taxing Units. Any alterations, a�ditions or deletions to the terms of this
Agreement required by changes in federal, skate or local law or regulations will be
automatically incorporated into this Agreement without written amendment, and shall
become effective on the date designed by such law or regulation.
EXECUTED this, the _day of _,�, _��.,,... ...�. , Z002, by the City, signing
by and �hrou�h its City M�na�er, duly authorized by � No. c� f 4 2q 0 _, and
on the '�, day of �� ••. �•� , 2002 by Taxing Unit, signing by and through
its President of the B rd o irector�
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APPROVED AS TO FORM AND LEGALITY;
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By: 1�2 ' v �C�,
1'eter Vaky � i
Asst. City Atta�fi�ey
ATTF.�T�'
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By: .. � _t. _ � � $��'`-'
` Gloria Pea n '
City Se tary
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contzact �ugk�o�i�a�ion— -
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Date �.�
CITY QF FQRT WORTH, TEXAS
By: r �i , "�
�� �eid J�cc�1^
�st �. City Manager
TARRAN i' COTJNTY COLLEGE DISTRICT
�
By: ��� , �
. Ar�Bell, M.D. ��
President, Baard of Directars
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E�chibit "A"
ORD�NANCE N0.�.3259
AN ORDINANCE D�SIGNATING A CERTAIN A.REA AS TAX
iNCREMENT REZNVESTMENT ZONE NLTMBER F�LTR., CITY OF F��ZT
WORTH, TEXAS� ESTABLISHING A BDARD �F D�RECTORS FOR
SUCH REYNVESTMENT Z�NE, AND -�THER MATTERS RELATED
THERET�.
WHEREAS, the City Council of the City ot Fart �Worth, �'exas
(�+Cxty��}, dasires �o promote the deveZopment or xedevelopment of a
cer�ain con�iguous geographic area wi�hin. its jurisdiction by �he
c�eation of a reinv�estmen� zon� as authaxized by �he Tax Increment
Fa.nancing Act, Chapter 311 0� the Texas Tax Cade, Vernon's Te�as
Codes Annotated {the "Act"); and
WHEREAS, in compZiance with �he Act, �he Ci'�y ca�.�ed a pub�ic
hea�ing to hear pub�ic comrr�ents on the' creation o� the proposed
reinvestment zone and a.ts berzefi�s �o �he City and to the property
in the proposed reinves�ment zone; and
WHEREA�, i.n compliance with �he Act, notic� o� such pub�a.c
hearing was pub�.ish�d in the Fort Worth Star-Telegram, a da�ly
paper of general. circuZation �.n the.City, sucY� publication date
being Novemb�r ].7, 1997, a date not late� than se�en (7) days
prior ta �he date ot the publi.c hBaring; and
WHEREAS, ��ri compl�.anc� wi�h the � Ac�, notice � of such _public
hearing, ira. required form and substance, was p'rovided in wr�,ting
not la�er than sixty (60) days before the date o� said publYc
heari.ng ta the govexning body af each taxing unit thai levies rea�
proper�y taxes in. the propo�ed reinves�ment zone; and '
WHEREAS, in. complianee wa.th the Act, the Ci�y made a formal
presentation, i.n r�qua.red substance and £orm, �to �he gov�rna.ng
body a�' each entity that levies reaZ propexty taxes in the
p�oposed �einvestment zan�; and
WHEREAS, in co�tplian.ce with the Actr a preliminary
rein.vestment zone �znancing plan was prepared and a capy af th�
plan rr,�as sent �o the govexning body af �ach taxing unit tha�
J.evies taxes on real propexty i.r3.� the propased reinvest�nent zone;
and
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WHEREAS, in campliance �nrith �he Act, the public heaxing was
convened at �he �ime and place menta.oned in the pub�ished no�ice,
to wit, on th� 25t'' day o� November, 1997, a� 1D:00 a.�., at the
Coun�iJ. Chamber i.rz �he City Hall vf the City o� Fort Warth, Te�as,
whzch hearing was thera, clased; and
Tn�HEREAS, the City at such hea�ing, in�rited all own�:rs o�
prapexty lacated wi�hin �he proposed reinv�stment zone,
representa�ives of a21 other taxing uni�s, and any othe�
interest�d persons and%or th�ir attorn.eys tp appear and contend
for o� against (1) �he Crea�ion o� �he r�investment zone, (2) th�
boundaries o�' the proposed rei�,vestment zone as described in the
boundary description and depic�ed in �he map, both of whzch
toge�he� are aitached he��to as Exh�bit "A,", (3) th� cancept o�
tax inc�ement fa.nancing, an.d (4) the appoin�ment o� a boa�-d of
di�ectvx�s �or the proposed reinv�stment zox�.e; and �
WHEREAS, the pxapor�era.�s o� the reinvestmen� zane offered
e�v�dence, both ora]. a�d documentary, in favor af a1.1 0� the
foregoing mat�ers relat�ng �o the creation of the �einves�merYt
zone, and opponents, if any, of �he re�.nv�st�►ent zane appear�d �o
coz�.test matters �elating to the creat�ozr. af the r�in.vestmez�.t zone;
NQW THEREFORE, BE IT ORDAINED BY THE CITY CDUNCIL OF THE CZTY
OF FORT WORTH, TEXAS;
Sectian 1: That the tacts and reci�ations con�tained in
'th� px�eamble -o-�����h�s Ord�.nance are hereby fo�a.nd and d�clared to
be �rue and co�r�ct.
Sec�ion 2: That the C.zty Council, at�er con�uctiing such
hearing and ha�crira.g h�ard such evid�nce ` and �astzmony, -has made
the �ol�owing findin.gs and dete�minations based on the evider�.ce
and �estimony presen�ed to it:
(a) That �he publa.c hearing on adoption of the reinv�s�men,t
zone has b�en p�oper�.y called, he7�d, an.d conducted and
that notice of �uCh hearxng has been pub�.ished as
required by law.
tb) That a1.1 taxing units levying reaZ praperty taxes
with.in the re�.nvestment zan� prop�rly recei�v�d notice
of the City's intentian to crea�e the reinvestment zone
and af the pub1�G hear�ng as required by the Act.
- 2 --
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{c) That all. taxing �.nits 1.evying rea� p�operty �a�es
wi�hin the r�investment zone timely x�eceived a
prelimin.a�y reinvestmen� zane fina�cing plan �rom the
City as required b� the Ac�.
(d} That �he City made �ormal preser�.�a�ion to all taxing
uni�s levyzng real praper�y �axe� within tihe
reinvestment zone as rec�u.ired by the Ac�.
(e) That �reatian of the praposed r�in,crestment zone and
improvements made �herein wiZl signi�ican�ly enhance
the value ot al1 0� the taxable real property in the
rein.vestment zone and wiZ1. be of gene�al ban�:��t fo�
the Ci.t�r.
(t) That the r�in.�restment zone, as descri�ad� in Exhibit
'�A" ,� meets �h.e cri�exia for �he creation � of a
reinvestment zon.e as s�� forth in the A�t, inc�uding
Sectian 31I.005 thereof, in that:
�1) Tt is a contiguaus geog�aphic area �ocated whol�.y
within the corporate lim�,ts o� the Ci�y; and
(2) The area is faund to substan.tzally arrest or
impair �he saund grow�h of the municipality and
re�ard the provision of hausa.ng accommodations.
(g) Tha� ��tne� �ota]. appraised value o� ail taxab].e real
p�op�rty in the reinve��ment zone accordin.g to �h� mnsic
recent appxaisa� roll of the City� together wi�h the
to�a1 appraised valta.e of taxable real praperty in al�.
o�he� e�si.s�ing r�investment zones within th� Cityr
acco�da.n.g to th� most recent appraisa� ro11 of the
Ci�y, does nat e�ceed fifteen. percent (15°�} of the
current tota�. appraised value af taxable real praperty
in the Ci�y and in �he indus�rial da.st�icts created by
the City� if any.
(h) That �he reinv�stiment aone does nvt con�ain rnore than
�ifteen pe�cent (154) of the total appraised value of
�ea.]. praperty �axab�.e by Tarrant Coun�y or an:y schoa�
distxict.
-3-
�
(�.} That the development
in. the rein�crestment
private investment
future .
o� redevel�pment af �he proper�y
zona will not oc�ur sal�ly through
in the reasanably foreseeable
Section 3: Tha� the City he�eby creates a reinves�men�
zon� con�aining the a�ea described in the boundary descrip�iarz
and as depicted �.n the map, both of which are �ogether a��ached
hereto as Exhi.b�.t "A", and such reinvestment zone shail hereaftex
be identi�ied as Tax Tncremen.� Reinvestmen� Zon� Numher Foux,
City o� Fort Worth, Texas (the "Zone" or "Reinvestment Zane").
Section 4: That there is hereby es�ab�ished
di�ector� for the Zone, which shall b� appointed in
wi�h �the S�c�ion 31J..009 of the Act and p�.rs�ant to
with th� other taxin,g units.
a board o�
acco�dance
agreements
Section 5: That the Zone shal� �ake effect on January 1,
1998, and that the terinination of �he Zane sha11 occur on
December 31, 2022, or at an ea�l.ier �ime design,ated by subs�quEnt
ordinanGe of the City Coun.cil in the event the City determin�s
that the Zone shou].d be termina�ed due to in�u�f�cient pri�rat�
in.vestmen�, accel.�rated private investmant or other good cause,
or at �uch tim� as al1 praject cos�s and Ta� Tncrement
abligations, it any, and the �.n�erest the�eon, have been pazd i.�n
��.11.
Section -6�:-� �� That the Tax Incremeri� Base for the Zone,
which is �he tota7. appraised vaZ�.e of a11 taxab�.e real proper�y
I.ocated in the Zone, is to be determined as of January 1, 1997 r
the year in which the Zone was design,ated a reinv�stmen� zone.
Section 7: That �.herc is hereby c�ea�ed and estab�.ished
a Ta.x �ncrement Fund for the Zone whieh may be di�rided �in�o such
accounts and sub�-accoun�s as may be au�ho�izad by subsequent
reso�ution o� ordinance, in�o whieh a11 Tax Zncrements, less any
af �he amounts not r�q�.ir�d to be paid in�o the Tax Xncremez�t
Fund pursuant to the Ac�, are �o be deposited. The Tax zncrement
Fund and any accoun�s an.d sub-accounts a�e �o be maintazz�a.ed in a�
ac�ouz�t a� �he depository bank of the Ci�y and shall be secured
in the manner prescribed by 1aw for T�xas citiies.� �n addition,
all revenue� �rom th� sale �f any obligations herea�ter �ssued by
the City secur�d �n wh�1e ar �.z�: pa�t from the Ta�c Zncrements,
revenues fram the saZe of any prope�ty acquired as part of �he
'Tax Tncrement Financ.�ng Plan, and other revenues to be dedica�ed
-�-
t� and used zn �h� Zone shall be deposited into such fund,
account o� �ub-account from whiCh m�ney wiX� be di�bursed to pay
project cost� far th� Zon� or to satis�y the claims fo� holders
of such ob�igations issued for the Zone.
Section 8: Tha� the Z�ne �s designa�ed under Section
311.005 �a} (�.) of �he A��.
Sect�on 9: That the Ci�y Manager and City AttQrney a�e
hereby autharized to execute and deliver for and on behalf of the
City, �ax inCremez�.t agreernen�s �,rith the F�rt Wo�-th Independent
School District, Tar�-ant Coun�y, Tarran,t County Hospital
Dis�rict, Tarrant County Junior College and Tarrant Rc:g�.onal
Water District, pursuant to �he provision.s. ot S�ctions 311.008
and 311.�13 of �he Act.
�ection 10: Tha� i� any section, paragraph, c�.ause o�
provision o� �his Ordinance shall for any �eason be helcl to be
a�nvalid ar un�nforceable, the inval�dity or ur�.en.fox�Ceabil.ity ot
such section, paragraph, c�.ause o,� provisian sha�.l not a��ec� any
of the remaining provis�ons of this Ordinance. -
Sec�ion 13�: � Tha� �hi� Ordinance sha�I tak� effect
immediately t�om and aft�r its passage in accordan.ce urith �he
provisa.ons ot th� Chart�r of �he City of Fort Worth and �t is
accord�.ng�y so ordained.
c�� oF Fox.T woRz�x
���� �
Kenne�h Barr
Mayor �
ATT�ST:
.
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Alice Church
City Secreiary
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APPROVED AS TO FORM AND LEGALITY:
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Assastant City A� rney
ADOPTED : I � I ,� �� 'r1 �
EF�'ECTI�TE ; � % I�Sa � � �
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:;��'°c'�[5-,
��unc�ary Des�ription .
F�rfi Worth Sou�h �ein�es�men� �one
Being a tract af fand in the City of Fort Worth, Tarrant County, Texas, which iract is more particularly described as
follows:
Beginning at the southwest carner of Lot 25, Block 20, Fairmount Addition, being in the easterly line af an alfey
and in the norther�y line of West Arlington Avenue;
Th�nce wester�y along the northerly iine of saicf West Ar�ington Street to the easterly line of the Fort Worth &
Western Railroad main track right-of-way;
Thence wiih said Railroad to it's intersection with ti�e saut� IiRe of Park Place;
Thence with the so�th line of Park Place to it's iniersection with the w�st line of Berkley Street;
Thenee with the west line of Berkley Street northerly to the south line of Edwin Avenue;
Thence easterly crossing Berlcley Street and along the north line of Blocks i of Edwin Avenue crossing the afore
mentioned Fort Warth & Westem Railroad io �he east lirte of said Railrflad; `
T�ence nor�herly a[ong the east line of said railroad to its intersectior� with the north ii�e of All Saints �piscopal
Hospital 81ock 2;
Th�nce easterly with th� north line of said Block 2 to its intersection wif� tF�e western line of Fort Warth & Western
Railroad right-of-way;
Ther�ce northerly a�ong the west line of said railroad to the sa�theriy [ine af Mistletoe Boulevard;
Thence wesferly along the soutl� line of said Mistletoe Boufe�ard to the easterly line of the Fort Worth & Western
Railrnad right-of-way.
Thence nartherly along the east line of said Railroad to the souti�erly line of West RosedaEe Stree#;
Thence westerly a[ang the sou#h line of said West Rosedale Sfreet to the easterfy fine of Forest Park Bo�levard;
Ther�ce northerly a�ong the east line a# said Forest Park �oulevard ta #he sautherly li�e af line of the Union Pacific
Railroad;
Thence nartheast�rly along the southerly line of said Union Pacific RaEfroad to tt�e north line of West Vickery
Bo�fe�ard;
Thence �asterly along the nor�h line of said W�st Vickery Boufevard to the sautheriy rigf�t-of-way line of r�ew
�nterstate Highway 3D;
T�ence easterly along the sauiherfy right-o#-way line of said new U.S. Highway 30, crossing Interstate HEghway
35W to the �ast [ine of Kent�acEcy Street;
ih�nce southerly along the east fine of sait� Kentucky Street to it's intersection with the soutn line of Terrell
Stxeet;
Ther�ce wester[y with the south�rfy line of said Terrell Streei to the northeasi corner of Lot 1, B�ock 2 McNulty and
Nesbit Subdivision;
Thence southerly along the easterly line ot said Lat 1 and Lot 30 of said McNulty and NesbBt ArSditior� to th�
northerly line of Humboif 5#reet;
Thence easterly afang the no�t�erly fine of said Humbolt Street ta a paint on the norEherly extension of the last IinE
of lots 32 and 32A, Biock 2 pf said McNulty and Nesbit Addition;
Ti�ence souihe�ly crossing said Humbaft Streei and along the east line of safd lots 32 and 32A and contin�ing on
safd line ta the south�ast ca.rnec ofi i.o� 4, Gra�es and McDaniel Subdi�ision and being in the north line of Maddox
Avenue, (this line to run generaEly aCong the east line of the first tie� of lots on tE�e east side of E�ans A�enue from
Humbolt to Maddox);
T�ence westerly along the norther�y line of said Maddox to a point on the norEherly extension of Lot 553, Block
22, Hyde Park Addifio�;
Thence soutnerly crossing said Maddox Street along the easterly line of lots 553 and 580 of said Hyde Park
Additian to the sautherly fine of said Eas# Allen Avenue;
Thence.wesierly al4ng the southerly line of said East Allen Avenue to a pair�t on ihe southerly extension of the
westerly line af 5ouih Main 5trest;
The norE�erly crassing said East Allen Street and aiong #he westerly line of said South Main Street to the southerly
line af Feliks Gwozdz Place;
Thence w�sterly afong the�southerly line of said Feliks Gwozdz Place to a point on the southerly extenslon of the
east line of l.ot 2, Blocic D, of tne Hendr9cks Su6divisian af Fields-Welsh Addition;
Thence norther�y crossing said �'eliks Gwozdz Place a�d along the east line ofi said Lot 2 to ti�e northerfy line of
I�gram Street;
Thence easterly along the north i3ne uf saicf Ingram Street to the westerfy iine of Travis Street;
1"hence nortnerly along the wesi line of said Travis Str�et to ihe southerly line of West Morpl�y Sireet;
The�c� westerly along the south line of said VrJest Morphy Street to t�te northwes# corner of Lot S, Blocic C7, of said
Hendricks Subdivisian;
Thence southerly alon� ti`re v+rest line of said 1.ot 8 to the north �ine of ar� alley which divides said Block D,
HendrlcKs Subcii�ision;
Ther�ce westerly afong the norfh li�e af said alley to the east line af Lfpscomb Strest;
TF�ence so�tnerly along the east line of said Lipscomb Street to a point on an easterfy extension of the sauth line
af Lot 12, B�ock C of Armstrang Subdi�ision af Fields-Welsh Additian;
Thence westerly along said Iine and along the south iine of Lni �2 and Lat 4 of Block C, said Armstrorrg
Subdivision to the easterly line of Afston Street,
Thence southerly a[ong tMe east line of saici Alston Street to the southerly line of Maddax Street;
Thence wsster�y alang th� southerly line af Maddox Street to the westerly line of College Street;
Thence northeriy alang fhe west line af said College Street to tt�e r�ortherly line of West Morphy 5treet;
Thence easterly along khe north line of said West Morphy Street to th� westeriy line of said Lipscomb Street;
T�ence nor��erly along the wester�y line of said �ipscomb S#reet to tne nariheas# corner of Lat 38, Block A, of
Martin & Moadie Subdivision of Fiefds-WeIsF� Adcfit9on;
2
Thence westerly to the northwest corner of saiti Lot 38,
Tt�ence southerly to the southwest corner af Lot �B;
Tk�ence wes#erly along the sautf�erly line ofi Lot 3A of said Slock A, extending to the westerly aine of said Alston
Str�et;
T�ence northerly afong the westerly line of said Alston Street to the northeasi corner of Lot 4, Block 1, Broolcs and
Bailey Subdi�is�on;
Thence westerly aiong the nor�herly line af said Lot 4 extendir�g to the west fine of an alley;
Thence southerly aEong the west line of said aiiey to the northerly line of an intersecting alley;
The�ce wester�y along the nartherly line of said alley to the westeriy line of said College Street;
Thence northerly along the wes#erly Iine of said College Street to the nor�h�ast carner of Lot 3, 81ock 2, of said
Brooks and Bailey 5ubdi�ision;
Thence westerly a[ong the r�orth�rly line of sald Lot 3, Block 2 e�ending to tl�e westerly line of an alley;
Tf�ence southerfy along said westerly lin� to tE�e northerly line of an intersecting alley; �
Thence westerly along said northerEy line to the westerly iine of Washirtgton Street;
Thence northerly along saici westerly line to the nartheast corner of Lat 1� o# D.S. Ross Subdivision;
Thence westerly along the northerly line of said Lot 1 E extending to the westerly [ine af an aAey;
i'f�ence southerly ainng saicf westerly line ta #he southeast corner of L.ot 1A, sa9d �.S. Ross Subdi�ision;
Ti�ence westerly aiang the southerly line of said Lot 1A extend9ng ta the westeriy line of Adams Street;
Thence nartherly aEor�g said westerly line to the nor�heast corner of Lot 8D, said D.S. Ross Acidition; -
Thence wesierly to the no�rthwes� corner of said L.ot SD;
Ther�ce southerly a[ong the westerly line of said Lot 8D to the northeast camer of Lot 8C, said D.S. Rass Additivn;
Thence westerly along the nartherEy line of said Lot 8C extandfng to the westerly line of Henderson Street;
Thence sautherly aiong said wes#eriy line to t�e southeast comer of Lot 4R, Block A, King's Subdivision of FieEds-
Welsh Addition; .
Thence westerly along the southerly line of Lots 4R and 13R, Black A ex#ending to th� wester[y line af Fifth
A�en�e;
�hence nartherly along said westerly [ine to the northeast corner of Lot 4, 131ock B af said King's 5ubdivision;
ihence westerly a[o�g the northerly line of said Lat 4 ar�d Lot 13 extending to the westerly line of Lake 5treet;
Thence southerly atong said westsrly line to ihe nartheast corner of Lat 5, 81ock 1, Johnson Su�r�ivisian of �'ields-
Welsh Addition;
Thence westerly along the northerEy line af said Lot 5#a the nartheast carner of Lot 28 said Block 'i;
3
�
Tt�ence southerly to the southeast corner of said Lot 28;
Thence westerly along the southerly line of said lot 28 extending ta the westerly lin� of Sixth Avenue;
Thence northerly along said west�rly Gne to th� nartheast corner of �ot 5, 61ock 2, of said Johnson Subdivision;
Thence wester[y along the north line of said Lot 5 to the southeast earner af Lot 29, sa9d Block 2;
Thence northerly to t�e northeast corner of Lot 30, said Black 2;
Thence. westerly along the north�rly line of said Lot 30 extending to the westerly iine af Fairmaunt 5treet;
Thenc� northerly along the west IEne af said Fairmount Street to the southerly �ine of Magnolia Street;
Thence westerly along said soufherly li�e #o the westerly line of an allsy which divides B[ock C of McNulty and Nye
Subdi�ision;
Thence southerly along the westerly line of said alley to ihe so�theast corner of Lot 4, Slnck C of said McNuliy ancE
Nye Subdivision;
Thence westerly along tE�e southerly line of said Lat 4 exkending to the westerly line of 5everttE� Avenue;
Thence so�therly along said westerly line to the sautheast corner of Lot 27, Block B of said McNulty and iVye
5ubdi�ision; -
Thence westerly along the southerly line of said Lot �7 extending to the west�rly line o# an aEEey;
Tnence northerly afong said westerEy line #o the southerly line af said Magnolia Street;
Thence westerly alang said southerly Iine to #he easterly line of Hurley Street;
Thence southerly along said easterly fine to the southerly line of said West Morphy Street;
Thence westerly along said southerly lin� to tne northeast eorner af Lot F7, Bloclt F, of said McNulty anr# Nye
Subdivision;
Thence so�atherly along the easieriy line of said Loi F7 and F3 and F2 a�d F4 and extending #o the southerly line
of MyriEe 5treet;
Thence easCer[y to the easterly line of an alfey which divides Block 9 of Layd's Addition and BEock 1 of Stewart's
Addition;
Thence southeriy alang the easterly line of said alfey to the southerly line of said West Allen Avenue;
Thence easter[y along said southerly line �o the northeast carner of Lot 32, Block �i0, Fairmaunt Addition;
Thence southerEy to #he sautheast corner of Lot 23, said Block 1�;
Thence westerly along the souther�y line of said Lat 28 to the easterfy line of an alley;
Thence southerly along t�e eas#erly [ine of said a[fey to the southwest corner of Lat 25, Block 20, Fairmo�ar�t
Addition and TH� PDINT O� BEGINNING.
SAVE &�XCEQTTH� FOLLOW[NG TRACTS OF LAND:
4
Lot 3B, Blvck N, Rosedale Addition {Newkirk WaElerich Buil�ing);
Lots 5, 6, 7, and 7 feet of Lot 4 Blocic 1, Rosedafe Addition (Fresnel);
Lots �, 2, 3, 4A, 5B, 6A, � 6B, Blocic 34, T�cker's Addition (Fire 5tation);
Lots �, 2, 3, 5, 6, 7, & 8, BEock Land 700, Srnith, Jones & Daggett Addition (Recrea#ian Building};
Lots A16 and A2, Block 2, Field's-Welch Addition (Parker Cammons);
Lots �A, 16,1 C, 1 D, 2, and 3, BEack 3, Martin ar�d Moodie Subdivision of Field's-Welch Additian (Moderr� Drug);
Lots 7R and SR, Block 3, McLellan Subciivision of Field's-We[ch Addition (Mehl BuiEding); and those tracts of land
being mare particularfy described as follows:
Beginning at the intersection of the northerEy line vf ferrell.5tr�et with the easterly lin� of Seventh Street;
ihence northerfy afong the easterly line ofi said Se�enty Street to the northwest corner af Lot i, Black 2,
Gra�dview Addition;
7hence easterly along the nar�herly fine af Lots 1 through S, said Block 2 anc! extend'mg to the easterly li�e of
West 5ixth Av�nue; �
Thence nortl�erly along the easterly line of said Sixth Avenue to the so�therly line af Pennsylvania A�enue;
7hence easterly along the southerly line of said Pennsylvania Avenue to the westerly iine ofi said Henderson
Strest;
Thence along the westerly line of said Henderson Street to the northerly line of said Terrell Street;
Thence westerly alo�g the northerly line of said Terrell Drive to TH� �OfNT O� B�GINN�NG (Cook's Chiidren's
and Harris Methodist Hospitals) ; and
Beginning at the iniersectipn of the noriherly line of Petersmith Street with the easter[y line of ,]ennings Avenue,
Thence northerly along the easterly line of said Jennings A�enue to the southeriy line of Broadway Street;
Thence easterly along the soutf�erfy line of said Broadway Street to the westerly li�e of Galveston Street;
Thence southerly along the westem line of Galveston to the �ortherly [ine of Petersrrfith Street;
Thence westerly along the northerly line of said Petersmith Street to THE P�INT OF BEG1NNfNG (Broadway
Baptis# Church and 7emple 6eth EE).
No�ernber 24, 1997
5
C`ity v�.�'ort T�orth9 �'exas
�ay�r ��c� �oa��c�l �or�rt�u��c�too�
QATE R�FER�NCE NUMBER LOG NAME PAGE
10/15/02 **��� 92�Q 17TAX 1 of 1
SUBJEC7 AUTHORIZE EXECUTION �F INTERL�CAL AGRE MENTS W1TH TARRANT
COUNTY, TARRANT COUNTY HOSPITAL DfSTRICT, TARRANT C�UNTY COL�EGE
DISTRICT, AND TARRANT REGIONAL WATER DISTRICT REGARDING TAX
INCREMENT CONTRiBUTIONS TO TAX [NCREMENT REINVESTMENT ZONE
NUMBER FOUR, CITY OF FORT 1NORTH, TEXAS (SOUTHSIDE TIF)
RECOMM�NDATfON:
It is recommended that the City Council authorize the City Manager fo ex�cute the attached lnterlocal
Agreements with Tarrant Cpunty, Tarrant Caunty Hospital District, Tarrant County College District, and
Tarrant Regional Water District defining the terms and conditions under which those entities will
contribute the tax increment produced by property lacated in Tax Increment Reinvestment Zvne
Number Four, City of Fo�t War�h, Texas (tf�� Sauthside TI�} ta the 5fluthside TIF fund.
D1SClJSSION:
On November 25, 1997 {M&C G-12�75}, the City Councif aufharized Tax Incremenf Rein�estment Zone
Number Faur, City of �ort Worth Texas (the Southside TIF), which includes fihe area generally
described as the Fort Worth 5outhside Development District.
Sfate law pro�ides for faxing entities other t�an the City to e�ect fio participate in tax inc��ment
reir�v�stment zones, or TIFs, by contributing tax incr�m�nt ta a fund established for the TIF. On August
31, 1999 (M&C G-'[2649}, the City Council adopted the project pfan and the financing plan far the
Souths�de TIF and authorized a participation agreemeni with the Fort Worth �ndependenf Sehool
Distr�ct. Recently, th� go��rning badies of Tarrant Caunfy, Tarrant County Hospital �isirict, Tarrant
County College District, and Tarrant Regianal Water District, approved the attached Interlocal
Agre�ments cammitting tax increment contributians ta the 5outhside TIF fund.
Approval of t�is Mayor and Cauncil Cammunication will allow final execution of these agreemen�s.
F15CAL INFORMATIONICERTIFICATION:
The Finance Director certifies that this action wil{ have no material effect on City funds.
RR;k
Suhmitte@ for City Maaager's I�'[JND I ACCOiTNT I CENTER I AMDiTNT C17'Y S�CR�TARY
Office by: I {to)
�
Reid Rector 6140 I
priginating Department Head:
� �
Tom Higgins G192 (from) I A.PP120VED 10/15/02
�
Addifional Information Contaet: I
�
Ardina Washingtoii 8003 I