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Home My WebLink AboutContract 28584 (2)�- - �. _ �iTY �€C�E��RY �� STATE OF TEXAS ��fV�'�A�Y t� . C0YINTY OF TARRANT CZTY OF FDRT WORTH AND TARRANT REGYOl�TAL WATER DrSTRiCT AGREEIWIENT T� PARTICIPATE IN THE TAX INCREMENT REINVESTMENT Z4NE NUMBER �'OUR, CTTY OF FORT WORTH, TEXA� This Agreement zs made and entered into by and between City of Fort Wortb, Texas ("City"), a Texas home-rule rnunicipaliiy, and Tarrant Regional Water District ("Taxing Unit"). WI'1`NESSETH; WHEREAS, on November 25, 1997, the City of Fort Worth City Council approved Ordinance No. 13259, estab�ishing Tax Increment Reinvestmen� Zvne Nurnber Four, City of Fort VVorth, Texas ("TIF District"), in accordance with the T� Increment Financing Act, as amended (V.T.C.A., Tax Codc, Chapter 311) (the "Act"), to prornote development and redeveiopment in tha medical district area of ihe City of Fort Worth khrough the use of iax incrernent financing; az�d WHEREAS, tlie Act provides that each taxing unit levying taxes o� �real. property �in a reinvestment zone is not required to pay into the tax increment fund any of its tax increment produced from property �ocated in the TIF District unless such taxing unit enters into an agreem�;nt to do sa wi.th �lie gaverning body af the municipality that created #he Tg' District; and WHEREAS, a tax increment agreement under the Act may be entered into any time before ar after the zone is created, and such agreeinent may include any conditions for payment of the tax incrernent into the fund and must specify the portion af the t� increment ta be paid into the tax incrcmani #'und and the years for whicl� that tax increment is to be paid into ihe tax increment fund; a�.d 'WHEREAS, City and Taxing Unit wish to enter into an agreement defining the terms and conditians under whi.ch Taxing Unit will contribute a portion of its tax increment to the TIF District Taac Increment Fund; 1�TOW TF�REFORE, City and Taxing Unit, in consideration of the terrns and conditions and covenants contained herein, hereby agree as follows: ARTICLE I. DEFINITIONS Terrns not defined herein shalt be con.strued as defined iun tk�e Act hereinafter defined, or through normal usag� if not defined in the Act. The following terms shall have Y.he fa11ow1ng meanings when used in ihis Agreernent: i - "Act" shall mean V.T.C.A., Tax Code, Chapter 31 l., the Tax Incremeni Fin�a.�aim�v�.�►,�:,�; �a� amended. � .� � �y ' �or�� La, "Captrxred Appraised Value" shall mean the totaI net taxable appraised value of th� real property locatad wiihin the TTF District iar t�e year less the Tax Incxement Base of the TIF Taxing Units. "Projecr Plan and Reinve�tment Zo�ne Financing Plan" shall mean the project and financing pIan for the development ar redevelopment of the T]F District. "TIF Distarict" shall mean Tax Tncr�ment Reinves�ment Zonc: Number �'our, City of Fort Worth, Texas, established by �e City Council Ordinance 13259, on November 25, 1997, a copy of which ordinance is attached hereto and rna�ked Exhibi� "A". "T�F Taxiug Units" sha11 mean those palitical subdivisions of the State of Texas authorrzed to impose ad valorem t�es on praperty located withi� the TIF District. "Tax Increment" shall mean, for any given year, the arnount of real properiy t�es Ievied and collected by a TIF Unit for the year on the Captured Appraised Value of taxable property located in fihe TIF District. "Tax Increment Base" sha11 mean the total appraised value of alI real propezky t�able by the TIF T�ing Units and located in the TIF District on January 1, 1997, the year in which the TIF District was establi�hed. "Tax Inerement Fund" sI�a11 mean a iund consisting of all the Tax Tncrement depasits, all rev�nues from the sale of tax increment bonds or notes, revenues from ihe sale of any property acc�uired as part of the Project Plan and Reinvestment Zone Fznancing Plan, and other revenues to be used in the development or redevelopment o� the TIF District. "Tota1 Tax Inct�ement" shall mean the cumulati�e total axnount af Tax Incrernent �o be paid into the Tax Incremeni Fund by the Taxiza.g Unit during t�ie term o£ thi s Agreement, which amount shall not exceed that amount set forth in Article III. ARTICLE II. AGREEI'Y�CEI'1TT TO PARTICIPATE AliID PAY TAX INCREMEN[T INTO THE TAX INCREMENT FUND P.a��-��1A��.,,�, luiy �l��r«�1 Ly �� c�.;lii a� �,�1�'Li�', the Taxing Unit agrees �o participate in fiulding of the TTF District and annually shall deposit into the Tax Incr�ment Fund an amount �;qua1 ta ane � f j,, � . hundred percent (100%} of its Tax Increment as defined in Article I, not to exceed the To#al TaX Tncrement, or until the Term of this agreement is reached, except the following: a. Any funds which were levied by Ta.xing Unit but were not collected; b. Any fund equal to tax refunds repaid by Taxing Unit to taxpayers o�wning real prog�rty in the T]F District; c. Any funds which represent penaliy, interest or attorney's fees on any delinquent tax paytnents made to the Taxing Unit by taxpayers owning xeal properiy in the TIF Distzict; � I d. Any taxes uncollected by fhe Taxing Unit due to agricultu�ra� �r ��e� t�� valorerri tax exsmptions. ' : li ��, ��'��, ARTICLE III. .LIMITATIOI�S ON TAX I1�CRE1VIElYT DEPOSITS The maximum atnount of "praject costs" (as defined in S�ction 31 l.UQ2 0£ the Act} that may be paad throug� Ta�t Increment deposits directly and/or through development agreezx�ents or ofher obliga�ions of ihe City secured by Tax Increm�nt depasits is $GO,DOO,OQ0.00. ART�CLE IV. FI1�tAL ACCOUNTING OF TIF FUNDS After all �roject costs have been paid or at the time of the terminatian o� this Agreement, the City shall prepare and pro�vide the Taxing Unit with a final accounting of the funds depasited ta and d'zsbursed from the Tax Increment Fund. A,zry funds remaining in t.he Tax Incremen� Fund following the fmal accouniing by the City shall be paid to the Taxing Units in proportion to each taxing unit's shaze of ihe total amount of T� Tncrement paid into th� Fund. � ARTICLE V. RESPONSIB�LITY FOR ACTS City and Taxing Unit shall each be responsible for the sol� negligent acts of their officers, agents, employees or separate contractars. Tn the event a� joix�t and cancurren� negligence of both City and Taxing Unit, responsibiliry, if any, shall be apportioned carnparatively in accordance with laws of the State of Texas, without however, waiving any governmental immunity available to City and T�ing Unit under T�xas law and without waiving any defenses a�the parties under Texas law. ARTTCLE VI. ADNIINISTRATION OF AGREEIVIENT Tlus Ag�reement shall be administered on behaif of the City by the City Manager's Office af the City, or the designee thereof. ARTICLE VII. DELIVERY ADDRESS Whenever this Agreemen� requires or permits any c�nsent, approval notice, requesi, proposal, or demand from one party to the other, the consen�, approval, notice, request, proposal, or demand must be in writing to be effec�ive and shall b� delivered to the party intended #o receive it at that party's address shown below: If intended for City, to: if intended for Taxing Unit, to Ec�namic Development Director City of Fort Worth 1000 Throckmorton Street Fort Worth, Texas 76102 Board of Directors Tar�rant Regional WatEr District P.O. Box 4548 Fort Worth, Texas 7b 164-0508 " or to such oiher address as either party may request, in wriring, from time to e�, �. �;w� ��U�:; � ��1�'° �,. r' ��M �1�� TARRANT REGIONAL WATER : BY� Y� ♦ 1 I , Charles B. CampbeIl, r. Geor W. Shannon Secretary Presi ent, Board of Direetors Exhibii "A" ORDTNA�TCE N0.13259 AN ORDINT�NCE DESIGNATING A CERTAIN AREA AS TAX INCREMENT RE2NVE�TMENT ZON� NUMBER FOUR� C�TY OF FORT WORTHr TEKASr ESTABLYSHZNG A BOARD OF DZRECTORS FOR SUCH REIIr�VESTMENT 20NE, AND � OTHER MATTERS RELX�.TED THERET�. WHEREAS, the City Counc�.� of the City of Fort Worth, Texas ("City"), desiras to promote �he development o� redevelaptnen� of a certai�. contiguous geographa.c ar�a within it� jurisdic�ion by the crea�ion af a reira.vestm�nt zone as au.tharized by the Tax Tncre�nen.� F�.nancing Act, Chapter 311 of the Texas Tax Code, V�rnoxi` s Te�as Cod.es Annotated {the 55AC1�") ; and WHEREAS, in compliaz�.ce wi�h �he Act, �he Ca.ty �alled a pub7.�c h�ar�ng �o hear pub].ic comments on the creation of the proposed reinves�mant zone and its benefi�s �a the City and ta �he property in the proposed reinves�ment zona; an.d WHEREAS, in complianCe wi�h the Ac�, no�iCe o� s�ch publ�.c hea�ing wa� pubXzshed in the Fort Worth Star-Telegram, a da�.ly paper of general �i�culation in the City, such publ.icatian date being November 17, 1997, a date not latex� than sev�n 47) days prior to the date a£ the public hearing; and WHEREAS,�in eompliance wi�h the Act, no�ice o� such .public hearing, a.n rec�a.red form ar�d substance, was pxovided in wrii�.ng not later than sixty (60) daXs before the date af said pt�.�ali� hearing to �he governing bady of each taxing ur�.�.� that levies real property 1�axes in the gxoposed reinvestment zone; ar�.d � T�THEREA�, in. compliance with �he Act, the Ci�y made a£ormal presen�atian, in required substance and form, to the gove�ning body of e�ch entity �hat levies real property 'taxEs in the proposed reinvestment zorte; and WHEREAS, in compliance with �he Act, a prela�minaary reinvestment zone financing plan was prepa�ed and a copy of the plan was sen.t to the governing bady of each taxing uni� that levie� �a�es on real p�aperty in the proposed reinv�stment zone; and �i .;�'.?. �.. l �J WHEREAS, in compliance w�th the Act, th� pu.blic hearing was con�r�ned at the �ime and plac� men�ioned in �hc pubJ.ished natice, to wit, on the 25�h day of No�reml��r, 3.997, at 10 : a0 a. m. , a� �he Co�.ncil Chamber in the City Ha11 of the City of Fort Worth, Te�as, which hearing was �hen clos�d; and WHEREAS, the Ciiy at s�ch heaxing, i.z�:vi�ed al1 owners ot property loGated w�.thin the proposed reinvestment zone, represen�atives of a11 a�her �axing �units, and any other interested persons and/or the�.r �ttorneys �.o appear and cantend �o� ox� against {1) the creation of the rein�restmen� zone, (2) the boundaries ot the proposad �einves�rnent �one as descra.bed in the boundary description and depicted in the map, bo�h of which to.geth�r are ati�ached hereto as Exhibit "A"� (3) the canCept of �ax incremen� fixzancing, and (4) the appoin.tment of a board of di�ectors for the propaseci reinvestment zane; and _ WI�EREAS, the proponen�s o� the reinvestment zone o�fered evidenee, both oral an.d documentaxy, in favor of aII of the �oregoing matters rela�ing ta the c�eation o� �he reinvestment zone, an,d oppon�nts, i� any, o� the reinvestrnent zone. appeared to _contest ma�ters re�ating to �he crea��on of the rein�v-estm�nt zan�, NOW THEREFORE, BE �T ORDAZNE£D SY THE CITY.COUNCIL OF THE CTTY OF FORT WORTH, TEXAS: 5ec�ion l: Tha� the facts and reci�a�ions contained a.n the preaznbl� �ca��-�his Ordinance are hereby �aund and daclared to be true and correct. Saction 2: That the City Council, af�e� condueting such heara.n.g and having heard such evzdence�and tes�imon.y, has made the following �inda.ngs and d�terminations based on the evidence and tastimony p��sented io i�: � ta) That the pubZic hearin.g on adoption. of the rein,crestmen� zone has been praperly ca11�d, held, and �anducted and that nataice of such hearing has been publ.ished as requir�d by lav�. (b) That all taxing unzt� levying xeal paraperty �axes within the rea.nvestmen� zone prope�ly �ece�ved notice of �he Ci�y' s intenta.on �a Create �he reinvestment zone and of the pub7.ic heaaring as required by the Act . -2- {c) That all t�ing units 1evy�ng re�T prop�r�y taxes withzn the �e�nves�m�nt zone timely recezved a prelzminary xeinves�ment zone financing plan from �he City as requi�ed by th� Act. (d) Tha� �he City made �ormal presen�ation to a11 t�ing units �evy�ng real property taxes wi�hin the reinvestment zone as required by �he Act. �e) That creation of the p�oposed reinvestment zone and improvements made the�ein will significantly enhance the va�ue of alI o� the �axab�e real pr�perty in the reinves�m�nt zone and wi�1 be of general bene�i� �or the Ci�y. (f) That the reinvestmen� zone, as described in Exhibit "A", 'mee�s the criteria fo� the creation � of a reinvestment zone as set for�h in the Ac�, includa.ng Sec�Yon 311.005 thereaf, in �hat: (1) It is a con.�iguous geographi.0 area located wholly ` within �he corpora�e �imi�s o� �he City; and (2) The ar�a is found to s�a.bstan�ially axres� or a.mpair the sound grow�h of the munic�pality and retard the pro�vision of housing accommodat.ions. (g? Tha�--�-��Yie tatal app�aised va3.ue of aIZ �axable xeal proper�y in the �-einvest�nen� zone accarding ta �he most r�cent appraisal ro11 of �he City, together with the ta�al apprais�d �cralue of taxable xeal property in a11. o�her exis�ing reinvestment zones within the Ci�y, according �o �he most recen� apprazsa� ro�.7. of thc City, c�oes not exceed �i�t�en percent (15°s) o� th� current to�a� appraised va1u� of �axable real. property in the City and in the industria�. distric�s created by the City, i� any. (h) That the reinvestment zone does no� can�ain more than fifteen pe�cent (15°s) of the total appraised valu� o� reax property taxable by Tarrant Coun�y or any school distarict . _ 3 _. (i) That the develapment or redevelopm�nt o� the property in the reinvestment zo�e will not occur solely ihrough p�ivate �nvestment in the reasonably foreseeabl� �uture. Section 3: That the City hexeby c�eates a reinvestment zone can�a�ning the area described in the bou�dary description and as depicted in th� map� both of which are �ogether attached hereto as E�hibi� "A", and such re�n�estment zone sha�l herea�ter be identified as Tax TnGrement Reinvestmen� Zone Numhe� Faur, City of Fort Wor�h, Texas tthe "Zone" or "Reinves�men� Zone"). Section 4; That the�e is herehy establ.ished di�ectors for the Zone, which sha11 be appoin�ed in with the �ec�ion 37.7..009 of �h� Act and pur�uant to with �he other taxing units. a board of accordance agreements 0 5�ction 5: Tha� the Zone �ha11 take effect on January 1,, 1.998, an.d tha� the �e�minatzon of the Zone sha11 occur on I]ec�mber 3�.� 2022, ar a� an earlier time designat�d by st�bsequent ordinance of the City Council in the event �h� Ci�y determi.n.es that the Zone should be terrninated due to insufficient private a�nvestmen�, acc�lera�ed private investment or o�her good cause, ox at such t�me as all project costs and Tax Inc�emen� ob�igations, if any, and the interes� thereon, have been pasd in full. Sectian 5'c �� That the Tax In.crement Ba�e �or �he Zane, which. is �h�: tatal appraised valu� of al�. taxable real property locatEd in the Zone, as �o be determined as of Jan.uary 1,, 7.997, �he yeax in which the Zone was deszgnated a reinvestment zone. Sectior�. 7: That there xs hereby cr�a�ed and established a Tax �ncremen� Fund for �he Zon.e which may b� divi.ded into such dCCQUT�.tS and sub--accounts as may be authorized by subsequent resolution or o�dinance, into which ai1 Tax Increment�, iess any of �he amoun�s not required to }ae paid into the Tax In.cremen� Fund pursuan� �o the Act, are to be deposited. The Tax Increment �'und and any accoun�s and sub-aceounts are to be maz.z�.tained in an a�count at the depositary bank of the Ci�.y and sha].1 be s�cured in the manne� prescribed by law for Texas ci�ies. In addition� a11 revenues f�om the sale �f any obl.igations hereafter issued by the C�.ty secured in whole ar .irz part trom the Tax Increments, r�ven�.cs fxom the sale of any px�oper�y acquired as part of the Tax Zncrement Financing Plan, and othe� rev�nues to be de�dicated _4_ ta and used in �h� Zane shall be depQsited into such �und, account or sub-account from which money wil� be disbursed to pay pra3ect costs for the Zone or �o satisfy the claims fo� holders of suCh obliga�ions issued for the Zane. Section 8: Tha� the Zone is des�gnated under Section 311.Q05 (a) (1) o� th� Ac�. Section 9: That the Ci,ty Manage� and Ci�y Attorney are hereby authorized �o execute and de�.iver for and on behali of the City, �ax increment agreements with th� Fort Worth zndepend�nt Schanl Dis�rict, Tar�an� County, Tarrant County Hospital Dis�rict, Taxran� Coun�y Junior Ca1�.ege and Tar�ant Regional Wate� District, pu�suant to the provisians o� 5ections 3�1.OQ8 and 31.1.013 of the Act. Sec�ion �o: That if any section, paragraph, C�,ause or provisa.on o� �his Ordinanc� shall for any reason be he�d to be invalid or unenfarceable, the invalidity or unenfarCeabiYity af suGh section, paragraph, Glause or p�ovision shall not affect any of �he remaining pravisions of this Ordinanc�. Se�tion 1�: � Tha� �his Ordinance shall. take ��ect immediately f�om and a�ter its pas�age a.n accordanc� with the proviszon.s o� �he Chart�r of �he City of For� Worth and it is accordingly so o�dain�d. CITY OF FORT WDRTH �� Kenneth Barr Mayor ATTEST: ��t'.�/ C��/I Ali,ce Church City Secretary -5- � APPROVED AS TO F17RM AND LEGALITY: � �� .f� A�sist�nt Ci�y At rne�r ADOPTED : � f �� f '�F � EFFECTIVE : II ��i J� I 9% 'l:� ..��,:� �i}, ��undaey De��ipti�n .. For� l�orth Soufh ��nr�esfineni Z�ne Being a tract of fand in the City af Fort Worth, Tarrant County, Texas, whicf� tract is rnore partic�larly described as follows: Beginning at the southwest corner of Lot 25, Block 2fl, Fairmount Addition, bei�g in the easterly li�e af an all�y and in the nartherfy �ine of West Arli�gion A�enue; Thence westerly along tt�e northerly line of said West Arlingtan Street to the easterly line of the Fort Worth & Western Railroad main track rig�t-af-way; Thence with said Railroad to it's mtersection with the south line of Park Place; T[�ence with the south iine of Park Place io it's intersection with tha west fine af Berkley Street; Thenc� with the west li�e of Berkley Street �ortherly to the soutF� line of Edwin Avenue; Thence easterly crassing Berkley Street and along tne north lir�e of Blacics 7 of �dwin Avenue crossing the afore mentianed �art Worth & Western Railroad to the east lirte of said Railroad; ` Tha�ce northerly along the east fine of said railroad ta its ir�tersection wi#h the norih fir�e of All Saints �piscopal Hospital Blbcic 2; Thence easterly witl� the north line of said Blacic 2 to its i�tersection with tt�e western line of Fort Worth & Western Railroad right-o#-way; , Ti�ence northerly along the west line of said railroad ta fhe southerly lir�e df Mistletoe Bo�levard; Thence wesierly along the soutl� line of said Mistletoe Boulevard to the easterEy fine of the Fort Worth & Western Railroad right-of-way. Thence nortneriy afong the east Jine of said Railroad to the southerly line af West Rosedale Sireet, Thence westerfy alortg the soufh line of said.West Rosedale 5treet to the easterly fine of Farest Park Boulevard; 1"hence northerly along the east line of said Forest Park Bo�levard to ti�e snuth�riy line af [in� ofi the Union Pacific Railroad; 1"hence northeasterly along the so�therly fine of said Union l�acific Railroad to the north line of West Vickery Boule�ard; T�ence east�rly along the north line of said West Vickery Bovlevard io the southerly right-of-way line of new Interstate Highway 30; Thence easterly aiang the southerly right-af-way line af said new U.S. Highway 30, crossing fnterstate Hlghway 35W to the east line of Kentucky Street; Tt�ence sautherly along the east line oi said KentucEcy S#r��t to it's intersec�ion with the south line of Terrell St�eet; Thence westerfy with the southerly line af said Terrell 5treet to the nartheast corner of Lot �, Block 2 McNulry and Nesb�f Subdivision; Thence southeriy aEong tfie easterly line of said Lot 1 and Lot 3d of said McNufty and Nesbit Addi#ion to the northerly line of Humbolt 5treet; Thenc�e east�rfy along the northerly line of said Hum6alt Stre�t to a point on the northerfy extension of the last line af lois 32 and 32A, 81ock 2 of said McNulty and Nesbit Addition; Thence southerly crossirtg sa�d H�amboft Street and along the east line of said Iots 32 and 32A and continuing on said line to the south�ast com�r of Lot 4, Graves and McDaniel Subdivision and being in the north line of Macldox Avenue, (this line to run g�nerally along the east line of t[�e first tier of Iots on the east side flf E�ans A�enue from Humbolt to Macfefox}; 7hence westeriy along the northerly line of said Maddox to a point on the northe�ly extension af Lat 553, Block 22, Hyde Park Addifion; � Thence sautherly crossing saicf Maddox Street along the east�rly iine of lats 553 and 580 of said Hyde Park Addition fo the southerly line af said East Allen Avenue; Ti�ence.westerEy along the southerly line of sai�i East Allen A�enue to a point on the souti�erly extension of the westerly line of Soufh Main Stree#; ihe northerly crossing said East Allen Street and along the westerly line af said South Main Street ta the soUtt�erly line of Feliks Gwozdz Place; Thence westerly along the �southeriy line af said Feliks Gwozcfz P[ace to a point o� the southerly extension of the east line of Lot 2, Bloelc D, af the f�endricEcs Su�dfvision of �ields-Welsh Addition, Thence northerly crossi�g saEd Feliks Gwazdz Place and along the east line of said �ot 2 to the northerly iine of Ingram 5treef; Thence easterly along the north fine of said Ingram Street to the westerly line of Tra�is Street; TF►ence r►orth�rly along the west fine of said Travis 5tr,eet ta the sautherly line of West Morphy 5treet; T�ence westerly along the sauth line of said West MorpY�y Street to the northwest corner of l.ot 8, Block D, of said Hendricks Subdivision; Ti�ence sotatherly along the vuest line of said Lot 8 to the nort� line of arr alley which divides said 81ack D, Hendrlcks Subdivision, TF�er�ce westeriy aiong the north iine af said alley ta ihe east line of Lipscomi� Streei; Thence southerly along the east firie of said LipscomB Streef to a point on an easterly eXtension of #he south iine of Lot 12, Block C of Armstrang 5ubdivision of Fields-WeEsh Addi�ion; Thence westerly alang said iine and alang the south line of Lot 12 and E.ot 4 of Bfocic C, said Armstrong SUbdivision to the easterfy line of Alston Street; Tt�ence southerly along the east line of said Alston Street to the southeriy line af Maddox Street; Thence westerfy alang ihe southerfy �ine of Maddax Street ta the westerly iine oi College Streei; Thence northerly along the west fine of said College Street to the northerly line of West MorPhy Street; T�ence easterfy along the north Eine of said West Morp�y Street ta the westerly �ine of said Lipscomb 54reet; �"hence �ortherly along ihe westerly line of said Lipscomb Street to the nartheast corner of Lot 3B, Block A, of Martin & Moodie Subdivision of Fields-Welsh Addition; 2 � Thence westerly to the northwest carner of said Lot 3B; T�ence south�rly to the southwest cor�er of Lot 3B; Thence westerly along the southerly line of Lot 3A of said Block A, extending ta the westerly line o# said Alston Street; �hence northerly along the westerly line of said A[�ton Street to th� northeast carner of Lat 4, Block 1, Brooks and Bailey Subdivision; Thence westerly along the nartherly line of said Lo# 4 e>ctendir�g to the west line o# an alley; Ther�ce so�therly alang the west line of said alley to the nort�erly line of an intersecting aE�ey; Thence westerly along the nortF�erly line of said alfey to ihe westerly IE�e of said College 5treet; Thence northerly along the westerly line af said College Street to the northeast corner af Lot 3, Block 2, o� said Brooks and Bailey Subdivision; Thence w�sterly alang the norti�erly iine af said Lat 3, Block 2 extending to the westerfy line of an alley; Thence southerly along said westerly �ine to the northerly fine af an intersecting alley; � TFience wesierly along said northerly [ine to the westerly line of Washingto� Stree#; ihence northerly along said westerly line to the nartheast corner of Lot 1 E of �.S. R055 SG}]dIV15iQ11; �hence westerly along the northerly line of said Lot 1� extenciing to the westerly line of an alley; Thence so�atherly along said westerEy li�e to the southeast carner of Lot 1 A, said �.S. Ross Subd9�ision; Thence westerly along the southerly line of said Lot 1 A ext�nding to the westerly li�e of Adams Street; Thence northerly along said westerly line to the northeast cor�er of Lot 8D, said �.5. Ross Addition; Thence wesier[y to the no�thwest corner of said Lot 8D; Ti�ence soutE�erly along the westerly line of sald Lot SD to the northeast corner of Lot BC, said D.S. Ross Addition; Thence westerly along the northerly line of said Lot 8C extending to the westerly line af Henderson Street; Thence southerly along said westerfy line to the sou#heast corner of �ot 4Fi, Block A, King's Subdivision of Fields- Welsh Additian; Thence westerly a[ong the sa�#herly line of I�ats 4R and 13R, Block A exter�ding to the westerfy lir�e of Fifih A�enue; Thance northerly along said westerly line to the northeast corner of Lot �1, Block B of said King's Subdi�ision; Thence westErly along the northerly line of said �.ot 4 and Lot 13 extending to the westerly line of Lalce Street; Thence sautherly along said westerly line to the nartheast corr�er of Lat 5, Block 1, Jo�nson 5ubdivision of Fislds- Welsh Addition; Thence westerly along the northerly line of said L.ot 5 ta the northeast corner of Lot 28 said Block 1; 3 Ti�ence southerly to the sautheast corner o# said Lot 28; Thence westerly along the southerly line of said lot 28 extend't�g to the westerly iine af 5ixth Avenue; Thence northerly along said westerly fine to the northeast corner of l.ot 5, Block 2, af said Johnson Subdivisian; Thence westerly along'the narth line af said Lot 5 ta #he southeast corner of Lot 29, said Blocl� 2; Thence nort�erly to the northeast corner of l.ot 3a, said Block 2; Thence west�rly a{ong the northerly [ine of said Lot 30 extending to the westerly li�e of Fairmount S#reet; Thence northeriy along the west line of said Fairmount Street to the southerly line af Magno�ia Street; Thence westerly along said southerly fine to the westerly line of an alfey which di�ides Block C of McNulty and Nye Subciivision; Thence southeriy along the westerly [ine of said alley to t�e southeast corner of Lot 4, Black C of said McNufty and Nye 5u6division; Thence wester�y along the southerly Iine o# said Lot 4 extending to the westerly iine of 5eventh A�enue; Thence southerly along said westerly line ta ihe souiheast corner of Lot 27, Blocic 8 of said McNulty and Nye Subdivision; � Thence westerly along the souther[y line of said Lat 27 ex#ending #o the westerly line o# an aliey; Thence northerly along said weste�fy line fo the sautherly [ine of said Magnofia Streei; Thenc� westerly along said southerly line to the easterly line of Hurley Street; Thence southerly along saic! easterly line to the so�ther[y line o# said West Morphy Street; Thence wesierly alang said southerly line to the northeast corner of Lat F7, Slock F, of said MeN�lty and Nye Subdivision; Thence soutnerly alang the easterly line af said Lot F7 and F3 anr� F2 and F4 and extending to the southerly line of Myrtle Street; 7hence eas#�rly to th� easterly line of an alley which divides Block 9 of �oyci's Addition and Block 1 of Stewar�"s Addition, . Thence southerly along the easterly line of said aliey to the southerly line of said West Allen A�enue; Thence easterly along said southerly [ine to #he northeast corr�er af Lat 32, Block 10, Fairmount Addition; Thence soutf�erly to th� southeast corner o# Lot 23, said Block 10; �hence westerly along t[�e southerly fine of said �ot 23 to the easterly line of an ailey; �'hence southerly along the easterly line of said alley to #he southwest carner of �ot 25, BEac4c 2fl, Fairmaunt Addition and THE POINT O� BEGINNING. SAVE &�XC�PT TH� FOLL�WING TFiACTS �F L4ND: 4 Lot 3B, Block N, Rosedale Addition (Newlcirk Wallerich Buildingj; Lots 5, 6, 7, and 7 feet of Lot 4 Black !, Rosedale Addition (�resnel); Lots i, 2, 3, 4A, 5B, 6A, & 6B, BEock 34, Tucker`s Additian (Fire Station}; Lots �i, 2, 3, 5, 6, T, & 8, Block Land 700, Smith, Jones & Daggett Addition (Recreation Build€ng); L.ots A1 B and A2, Bloc�s 2, Field's-Welch Additior� (I'arker Commons); Lots 1A, 1B,iC, 1D, 2, and 3, Biock 3, Martin and Moodie Subdivfsfon of Field's-Welch Addition �Modern prug); Lots 7R and 8R, Slock 3, Mc��llan Subdivision of FieEd's-Welch Addition (Mehl Building); and thase tracts o# land being more particularly described as foliows: Beginning at the intersection of the northerEy iine of Terre�l.Street with the easterfy line of Seventh Street; Thence northerly a{o�g the east�rly line of said Seventy Street to the no�tf�w�st carner nf l.ot �, Block 2, Grandview Addit9on; Thence easterly alang the northerly [ine of Lats 7 througt� 8, said Block 2 and extending to the easter[y line of West Sixth Avenue; 7hence northerly afang #he easteriy line of said 5i�h Avenue to the southerly lin.e of Pennsylvania A�enus; ihence easterly along the so�theriy [ine of said Pennsyiva�nia Avenue to the westerly line of said Henderson Str��t; Thence along the west�rly line of said Henderson Street to tfi�e �ortherly line of said Terrell Street; Thence westerly alang tne northerly line of said Terrell prive to THE POINT OF BEGiNEVING (Cook's Children's and Harris Methodist Hospitais) ; anc! Beginnir�g at the intersection of the nartherly 19ne of Petersmith Street with the easterly Eine of Jennings Avenue; Thence r�ortherly along th� easterly line nf said Jennings Avenue to the sout�erly line of Broadway Street; Thence easterly along the southeriy line af said Broadway Street to the westerly line of Galveston 5treet; Thence souiherly along the western line af Galvestan ta the northerly line of Petersmith Street; Thence westerly along tf�e �ortherly [ine of said Petersmith Street to THE POINT �F B�GINNENG (Broadway Ba�tist ChUrci� and T�mple 8eth EI). November 24, 1997 � C'ity of'.�'o�t Wo�th9 T'excas �r�� rr�� c�n��l ��mr��n��;�� DATE REFERENCE NIJMBER LOG NAM� PAGE 1 a115/02 *��_� 9�� I 17TAX 1 of 1 su�,��cT AUTHORIZE EXECUTION OF INTERLOCAL AGREEMENTS WITH TARRANT COUNTY, TARRANT COUNTY HOSPITAL DESTRICT, TARRAN.T COlJNTY COLLEGE DISTRlCT, AND TARRANT REGIONAL WATER DISTRI�T r�EGARDING TAX INCREMENT CONTRIBUTIONS TO TAX 1NCREMENT RE{NVESTMENT ZONE NUMBER FOUR, CITY OF FORT WORTH, TEXAS (SOUTHSIDE T1F) RECOMMENDAT[ON: I It is recommended #hat the City Council authorize the Ciiy Manager to execuie the attached Interlocaf I Agreements with Tarrant County, Tarrant County Haspital District, Tarrant Caunty College Dis#ric�, and � Tarrant Regional Water District defining the terrrts and conditions under which those entities wifl cor�tribute the tax increment produced by property located in Tax Increment Reinvestment Zone Number Four, City af Fort Worth, Texas (the Southside TIF) to t�e 5outhside TIF' fund. DISCUSS]ON: On November 25, 1997 (M&C G-12075), the City Co�ar�cil autharized Tax Increment Reinvestment Zone Number Four, City of F'ort Worth Texas (the Southsid� TIF), which includes the area general{y described as the Fort Worth 5aufih�ide De�eiopment District. State law provides far taxing entities other than the City to elect to par�icipate in tax increment rein�e�tm�nt zones, or TIFs, by contr�buting tax increment ta a fund esta�Eished for the T1F. On Augus� 31, 9999 (M&C G-126�49), the City Caur�cil adopted the project plan a�d the financing plan for the Southside TIF and autharized a participat�on agreement with the Fort Worth Independent School Distric#. Recently, the go�erning bodies af Tarrant County, Tarrant County Hospital District, Tarrar�t County Call�ge District, and Tarrant Region�� Water District, approved the attached Interlocal Agreements committing tax increment contributioRs to the Southside TIF fund. Approval of this Mayor and Counc�l Communication will aflaw fina� execution of these agreements. FISCAL INFORMATI�NICERTIFICATION: The Finance Director certifies thaf this action wi[I ha�e no material affect on City funds. RR:k Submitted for City Manager's I F'Cl1VD I ACCOi]NT I CENTER I AMOi33VT I• CiTY SECRETr�RY Office by: I (to) 1 I I Reid Recior 614U Originating DepRrtment Head: Tam Higgins 6192 (from} � APPROVED 1D/15/02 Arlditianal InTormation Contact: C'ity of �"ort Wortl�p 7'exas A1�`�� l��f�� ,�I��'1�11� ��1��11�At��11 DAT� R�FERENCE NUMBER L.OG NAM� PAGE 10/15/02 **�019290 17TAX 2 of 1 SUBJECT AUTHORIZE EXECUTION OF ENT�RLDCAL AGREEMENTS WITH TARRANT COUNTY, TARRANT COUNTY HOSPITAL DISTRICT, TARRANT COUNTY CQ�LEGE DlSTR1CT, AND TARRANT REGIONAL WATER DfSTRICT REGARDiNG TAX INCREMENT CONTR{BUT�ONS TO TAX INCREMENT REINVESTMENT Z�NE NUMBER F�UR, CITY OF FORT WORTH, TEXAS (SOUTHSIDE TIF} I Ardina Washington 8�03 I � I I I