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Home My WebLink AboutContract 28524 (2)r STATE OF TEXAS COUNTY OF TARRANT �!�'`(ry��g�C�'�+�ip�'�►�Y `_ Lr� �1 V 1 fll�ISg� 1�� .. ��., .__ ,_. �..�. TARRANT COUNTY HOSPITAL D�STRICT AGREEMENT TO PARTICIPATE IN THE TAX INCREMENT REINVESTMENT ZONE NUNIBER �OUR, CITY OF FORT WORTH, TEXAS ("AGREEIVIENT") This Agreement is made and entered into by and between TARRANT COUNTY H4SPITAL DI�TRICT ("Ta�ng Unit"), a Texas Hospital District, and the City of Fort Worth ("City"). WITNE5 �ETH: WHERFAS, on Novcmber 25, 1997, the City of Fort Worth City Council appraved Ordinanc� No. 13259, establish.in.g Ta� Increment Reinvestment Zone Number Four, Ci�y af Fort Warth, Te�as ("TIF District"}, in accorc�ance with the Tax Increment Financing Act, as amended (V.T.C.A, Tax Code, Chapter 311) (the "Act"), to promote deve�oprnent and redevelopm�nt in t�ie mee�ical district area af the City of Fart Worth through the use of tax increment financing; and WHEREAS, the Act pravides tha,t each taxing unit levying taxes on real property in a reinvestment zone is not required to pay inta the ta� increment fund any of i�s tax increment produced from property located in the TiF District unless such taxing unit entez's into an agreement to da s� with the governing body af the municipality that created the Tik' District; and WHEREAS, a tax incz'ement agreement under the Act may be entered into a.ny tirne beFore or after the zone is creatad, and such agreement may include a�y conditions far payment af the tax increment into the fund and must specify the portion of the taac increment to be paid into t.�e tax increment fund and the years for which that tax increment is to be pa:id into the tax increment fund; and WHEREAS, City and Taxing Unit wish to enter into an agreement defining the terms and conditior�s under which Taxing Unit will contribute a portiQn of its tax increment ta the TIR District Ta.x Incrernent Fund; l�TOW THEREFORE, City and Taxing Unit, in consideratiQn af the terms and canditions and covenants con�ained herein, hereby �gree as �ollows: ARTICLE L DEF�NIZ`��NS Terms not c�efined herein shall be construed as defined in �he Act hereinafter defined, or through normal usage if not defined in the Act. The following terms shall have the follawing meanings whe� �}�ec� ir� �� nt: a. "Act" shall mean V.T.C.A., Tax Code, Chapter 311, the Tax Tncr��, �.�.�ci� Act, as amended. � ��G, ,` �t u �'e '�aAt��"�d A � ai ArQpe�, F r �e � t�� Z� T�x'�� with.i:� �� u�" shall � ts, e T e�� red {�P��►" �� s�� for thtot'a� n�. t�a ��XpX�.�ae�t af� T a� tbe pr�. � Ye,�r ��$� �h� �� r�i5� �,a1� d. « �D,�t . I�ct �n �C�'�m � °f the �art �,,��tstrict'� S�ZaI ��, attac�,� he ��n�ncing p �� B�se of ��' `� �°�Y n W�ii �sta� rshe,� �� -��cr� �� d'nark,�d � °� the de�e a�t ��?•� �'a � Ch �rd in�ne��s �t e ��ty a �ei,�VQ��t ��''�� "A" �°��enx ar �ori2�d t p r�pa � nit�» s�� hea her�t� �d T d.rz�,��G� X 3,� ��er Fo f. ��T�x �`� Va1°r�,,�ri �'�� s� ��k�E.�hib� � °� �a�,� r� City ,��. , ��ab� ��d '��u�� Shall �� '�r°� �y�l,�� '��vtsio � �� er,�5 � pr� reci � m�� eat�� s �p � �`� p�� l°��t+ed' �� Unit far t� �iv,�n ��r �thln th� T� DS�ate �f T��a �� trr s ��rabj� ,�y ��ier�rn,��t ,g » ��D��tri,� he y��, �,�, �he � Fno�nt a fr ct, � l� �bic1� the ��xxxn U'nl� aX1,r��ara r� '��tt��d `,�p� a�se� e��' ��es �. « -District �d lo� '� total �`�ue of a'�osits� a11 �-��r�m�nt �as estabyl h�'n the ��d va�U� �f �71� o f�� y��r�� n,�„ ��,� rn strrct an �a��all r,�al pr��e �� ncir�� Plan Per�, ac �� sale � f�r� a.��d �'Y 1, 19g� �'` t� �ncr G°risistzz�� of � t�e ��'s�ri��' and °ther� �v� e� �� °� t i. rr7.Qt�' s t° �� s� he 'p� �e�a�ds qr �c�t�� r�� '� -�G �� jn�'a�g ��rg�er��, d X� th� devel�� 'a�� R+�zr�� , ��.nt , �r��m�nt, �,�� Tax r��r� s��.l.I.�� t� pment ,�r r� �� trn�� n�e � a'�D�nt �� r�d b�'�mul��v� �� °p�en� af ��LE � A c��`� that ��n� .� I�°Un� af T� � �REE�� nt set f��$ �ur�� the ��r�'�'`�ent ' ta i �' �7'{� � 1' '� IP ��e -TIl: °f t�s _ � -�i • `�I��' A�'�' .`�nr)i , �n'ict � R��EI�� `�1I�' 1' s� „ +�� tr�y A� �C'��' � �� a�� af d ��all �ie , � � p��nrt' a� se� �n�cr m�� d��'�sit�� '�� tnrt �� r t�� °�°�'Yug �h �II �ic� �� f°rth�� x I�cr��r�iA�t,� Yn � �y ��d •, or unti��icT� � �°� �nc� °n� � n�� of �� TII� P o�, ��'� �9 al ��r��'�vr�� t� af �his � �� t.�e T,� � � nt '��Y �� th� �� D str;�:r'ds e�a � n� �nit �,� �t �� , Y T �'er� , �t �� Unl�. ��n°t �oll��. �'��aYers a�,n�g r � . ,_ � ��r � . �� d � ,� ., c. Any funds which represent penalty, interest or attornc;y's fees on any delinquent tax pa.y�ments made to the Taxing Unit by taxpayers owning real property in the TIF' District; d. Any taxes uncollected by the Taz�i�ng Unit due to agricultural or other ad vaiore�n ta.x exemptions. ARTTCLE III. LIli'�TAT`I�1�TS O�T TAX Il�TCRE11�iEl�TT DEPOSITS AI'�D U�E �F FU�DS The Total Tax Increment ta be paid into the Taac Increment Fund by Ta.xing Unit shall nat exceed $3,5000,000. The maximum amount of "project casts" (as defined in Seetion 311.002 of the Act) tl�at may be paid thraugh Tax Increment deposits dit'ectly andlor �hrough develQpment agreements or other obligations af the City secured by Tax Increment d�posits is $60,400,000.00. This Agreement is based or� the following condi#ions, and the City agrees and acknowledges the Taxing Unit's right to enforce the canditions cantained herein hy injunction ar any vther lawful means in the event one or more of such conditions are nQt satisfied, to wit: a. The Tax Inerement deposi#ed into th� Tax Incrernent Fund by the Ta�ng Unit, shall be used to pay project costs far infrastructur� improveme�nts ar Qthcr public improvements as set farth and identified in the attached Plans, and shall not include a.ny costs for City administratian, averhead, or management of the TlF District, or costs for municipal or educational facilities. b. If the Plan is amended, the Tax �ncrement depasited into the Tax Increment F�and by the Taxing Unit may not be used for any infrastructure improvements ar ather public improvements not addressed by the Plan unless the amended P1an is appraved by the governing body of the Taxing Unit as an amendment to this Agreernent. c. As d�fined, �he TIF District shal� include real praperties located within the boundaries as described in 4rdinance Na. 13259. Tf the TIF District is expanded, the Tax Increment deposited inta the Tax Increment Fund by the Taxing Unit may not be used for any infrastructure improvements ar other public improvements in any portion of'the expanded area of the `TIF' Di�trict unless approved by �he governing body of the Ta�ng Unit as ar� atnendment to tliis agreemen�t. ARTICLE �V. FIIiTAL ACCOUN'TING OF TIF FUl�DS After all project costs have been paid ar at the time af the termination of this Agreement, #he City sha.11 prepare and provide the Taxing Unit with a f naI accounting of the funds deposited to and disbursed from the T� Incrernent Fund. Any fiurbd� r��,axnin�-- in the Tax Tncrement Fund fallowing the final accounting by the City shall H�j�p�i�i: ti�a �� Taxing Units in prapartion to each taxing unit's share o£ the total �an��.T ;�� .� Increm�n� paid into the k'und. � I i � ART�CLE V. RESPOl�TSIBILITY FOR ACTS � City and Taxing Unit sha11 �ach be responsible for the sole negligent acts of their officers, agents, e3nployees or separate contractors. In #he event of joint and concurrent negligence af both City and Taxing Unit, responsibility, if any, shall be apportioned comparatively in a.ccordance with Iaw� of the State of Texas, withaut however, waiving any governman�al immunity available to City and Ta�.ng Unii under Texas law an� withaut waiving any dc%nses of the parties under Texas law. ARTICLE VI. AD1ViIl�TISTRATION OF AGREEME�TT This Agr�ement shall be adminisiered on behalf of the Giiy by the City Mazxa,ger's 4ffice af the Gity, Qr the designee thereof. ARTICLE VII. DELIVERY ADDRE�S Whene�er this Agreem�nt requires or permits any consent, approval notice, request, proposal, or demand from one party ta the other, the consent, approval, notice, request, praposa.l, or dernand musi be in vcrriting ta be effective and �ha.11 be delivered to the party intended io receive it at that party's address shawn bel�w: If intanded for City, to: If intended for Taxing Uni�, to Ecanomic Development Diirectar City of Fort Worth 1000 Throckmorton Street Fort Worth, Texas 76102 Tarrant Coun.ty Hospital District David Cecero, CEO 1500 Sauth Main Street Fort Worth, Texas 76104, or to such o�her address as either party may :request, in writing, from time to time. AR'TICLE VIII. GOVERllTII�TG LAW A1�iD VE1�UE This Agreement is made subject to the provisions of the Charter and ordinances of City, as amended; the Texas Constitution, codes and statues; and all other applicable state and ge�eral laws, regula,tions and require�nents, as am�nded. Venue for any caus� of actian arising hereunder shall lie exclusivel�r in Tarrant County, Texas. ARTICLE IX. TER1Vi Tb.is Agreement is effective January 1, 2001, and shall include any tax increment derived frorn the 2000 tax yeax, for which taxes are due by ranuary �=r; ��'QY'. -�'�� Agreement shall cantinue through December 31, 2022, or until such time �s ;�s�'l��s�1�'F;.�.i� Increment has been paid into t�e Ta� Increment Fund by ihe County a� tl�� i�a.�r�n�+�t►� �' r �, ,, amount of project costs have been paid through Tax Increment deposi�s, as set farth in Article III, whichever event shall be the first to occur. ARTICLE X. ENTIRE AGREEMEl�TT/Ali�ENDMElvTS Tkis Agreement embodies ihe complete understanding af Ci#y and Ta.xing ZTnit, and shall supersede a11 aral written previous and cont�mporary agreements betwee� the parties rela�ing to matters �erein, This Agreement may be a,mended, modifi�d, or supplemented only by an insirument in wri�ing executed by City and Taxing Unit, a copy of which will be provided to a11 TIF Taxing Uni�s, and must be consented to in writing by such TIF Taxin.g Units. Any alterations, additions or deletions to the terms of this Agreement required by changes in federal, state ar local law or regulatians will be automatically incorparated inta tk�is Agreement without written amendment, and shall become efFective on the date design4e�d by such law ar regulation. �� EXECUTED this, the � day of �. �6fi2, by the City, signing by and throu�h its City Mana r, uly authorized �y � No. t, r i LYL. , a�� on the �� day of, ��.�2002 by Taxing Unit, signing by and through iis Board Cha,irman. ° APPR�VED AS TO FORM AND LEGALITY By: ��LC'L V ��.� , Pe�er Vaky �� Asst. City Attomey ATTES� , By: rs �=- � ' � � _ . / - -- Gloria Pear�an Ci�y Secretaty CITY OF FORT WORTH, TEXAS By: �� R�id Rector Asst. City Manager � --�. � [�� c�rtr ��ct Autho�: i z�tior� ...a.,�,..�� J�_` _�� .�.�� ..`..,H�.. nat� APPROVED AS TO FQRM: � � By.� ullivan Bradley � Asst. Distnct Attorn.ey , / �,' � �� . - �' i/.).1��._ TARRANT COUNTY HOSPITAL DISTRICT 'y. '� � , By. � � > � Harolci Samue s Board Chairman ,. � Exhibit "A" �� JL W■�� l J�:9 JL �� I1��S�1l��1�� i�� °4 �� C�� Fa��t ��th 5��.�hsid� De��l�pr�.e�xt D�st�%�� August 30, 1999 Updated 5-28-U2 r �� 1�� '�� I��1�� i f""1�� Ci-iAPI'EA 1 - �CEGl1�iV� SUMMARY Ci�AF'T�R 2 - INTRC3aUCilON Tax Incre�ent �inanc9ng Project and �inanca PEans TI� Increment �inancing the Pro��ct �ort Worth 5outhside Developrnent District CHAPTER 3 - PROJECi PLAN �ac�graund Tax Incremen# Financing D�stric# #4 Ex�siing Uses and Gandit'rons Land Use �sscriptian Transpnrtatian Visual Characteristics Histaric Resources Developmant Concepts Prajects by Category Propose Changes o# Nl�nicipat �rdinanoes Non-Project Costs �eiacation Pla� CHAPi�R 4 - �INANCE �LAN �canamic Impact Yaac Incremen# 9ac�ground �rajections With and Witl�o�t TII� Prnject Flnancing Project �iements by Gategory Project Cost Assumptions Projected �irneline af �xpenditures -1999 thru 2Q�6 CF�AP'i�R 5- VAl.UATION IJPDATE AHD �NCFiEM�NT PRO,lEGTEaNS CbA�'i�R 6 - AD{�AINfSiRATiV� �JCPEI�S�S CI�RF'�a Y - �ARD �� iR�C�ORS & �U�PQRT SiA� �HA�T'�� 8 - M�EiING AGENDAS & �IANp�UiS L-'�. 1 3 4 4 4 5 7 7 8 8 9 �o 1 Ci 10 13 15 i5 1fi 17 18 18 20 22 25 �6 3p 31 33 34 35 37 � � APPI�NDiC�S �or� Worth Souths�de �eveiopment �istrict 5trategic Plan �xeoutive 5urnmary - Oc4ober � �95 Prelimi�ary �inance Plan - Novem�er 10, 189T Increme�t ❑etails �y Taxing Jurisdictian �xFii�its I through N- i 99� �stimates Chranology of �vents -�Aay 199� io d�te Adopting Ordlr�anc� Na.132�9 an �la�ember 2�, � 997 5ubstitute carrect property descri�tian 4a Drc#ina�ce � 3259, 12/16/97 Ordinance No.13919 approving �roject & �inance P[an - �/31/99 Inter-focal Agreernents �etween the City of For� Wnr�h and: �ort WortF� I�dependent Schoal District - August 31, � 399 iarrant County iarrant County Callege iarrant Gaunty Hospital C�istrict Tarrant Regional Wa#er District TiF Enabling �.egisla#ion � �� EXHIBITS a B. C � F. � Fi. I . J. fC. �. M. N. Q P. � Aerial phatograph of �ort W�rth SoutFiside Deve�opment Distric# Map of �l� �our�darles E.and llse �evelopment Concepis Map Gpaph af iaxabie Real property Va1ue Change - 1994 through 199i Y�F Increment �rajections Tax Revenues Wit� and Wlihaut Rein�estment Zo�se Craph af �eve�ues With and 1Mithaut �eit��estment �ane TI� fncrem�nt Prajections - Ci#y af For� Wa�fh iIF fncrement Prajections - Fort WcrtF� Indep�ndent Schaol �Es#rict �'I� tncrement Projectlans - Tarrant Counry T�I� Encrement Prajectians - Tarrant Gounty College 71� �ncrement Projections - iarrant County Hosp�tai D�strict �I� Increment Projectians - Yarrant Regional Wa#er District Project F�lements by Category Projeot Casting Assumpt�ans Project [mpler�en#atian Timeline - 1998 ihrougf� 2p06 � 2 3 4 5 6 7 8 9 i0 i1 �2 13 14 15 �� 5 B i2 17 aa 23 24 TA� � `�AB 3 iAB 3 TAB 3 TAB 3 TAB 3 27 30 3j � �w�� x�c��v� ��w�� u�p�� evitaliaation of F'�ri Warth's rrear Southside Property values bstween `94 -'97 decreased �% in TI� �istrict vs. increasing 23% in the County and increasirrg 16% in the City. �o�r�d�ri�s 2,774 Parcels and 1,330 Owners Large[y coRncident with �ort Wor�h Sauthside pevelopmen# ❑istrict Larg� exempt proper#ies - Harris, Cook Chilcfrens, and JPS hospitals Carved aut praperties en}oy City �is#oricaE Property tax exemp#3ons 3.33% af value and 8.74% of land area within T1F is resider�tial ��j�� Fart Wort� South Mastet Developmant F�[ar� Southside Medical f}istrict S4rategic RedeveIopment Plan - May'95 pay as yot� go, or developer financed infrastructure investments d�lu�ilo� Propetty inside T!� boundary valued at $520 miliian before carve outs 7axable Val�e 1-1-97 7�xable Value 1-1-98 �axa�le Val[�e 1-1-99 T�xable Value 1-1-OD �axable Vafue 1-i -a1 �X I��e�� T�raugh January i, 200f property values increased $23.8 mfifion. Yax �a�g� �� City iso Caunty I�ospital District �roc Wa#�r District Tatal $230 millior� �ase Va;Eue ��26 million {1.7%) $222 hlilllo�l (1 .5 °/n ) $235 million 5.8% $2S3 million 7.7% $ 0.86500� $ �! .64110Q $ 0.274��5 � 0.��4o�a $ 0.1084� 0 � o,o�0000 $ 3.14'f �65 25 years - Jartuary 1, 1997 u�til December 31, 2Q22 °Q1 Tax Rate [ner $� 00 in �afue1 Percentaqg 27.59% 52.24% '8.��}a/o 7.4saio �.39% �°�o 100% � ��h �I�w Inerement project�ons suggest T1F will reach $6Q millian cap in year 1 P�pti�i�a�ti�n All sfx taxir�g jurisdictions ar� parti�ipating fully FWISD to tfe�icate �0°/a oi iis �ontrfl��tlon #o school projects ir� TIF Caunty caps c�ntribut4on at $4 mlliion Has�ifial Dis#rict caps its contributian at $3.5 miliian Z � y ��"'L�� 'TR�DUCTI�i� iax In��r��n4 �it��n�ir�� A Yax Increment Financing 9istrict ('�I� District) is an ecar�omic develapment toai used by focal guv�rr�ments ta finance pubfic 1mpr��ements within a defined geographic area. TiF Distr�cts ar� craated to strengthen existing positive cond'rtians and attract new devefopment. The p�rpose of FQrt Wa�#t� TiF No.4 is to: a,4ttract new inrrestmen# ar�d encourage revitalixation of #he near southsfde a# Fort Worth whicF� is an area #hat will cor�ti�ue ta dacay withaut TI�' financed infrastr�cture. � Create redevelopment momentum tk�at wilf create sufas#antia! financial gairts to local taxing ju�isdictior�s both during and beynr�sf the Iife of the TlF. i Recreate an economically wi�ble, mixec!-use, centrai city neighborhood, • Le�erage the resources and energy c�f an exfsting carnmunity based revitafization initiaifve, Fort Worth Sauth, to reoagnize the goal of revitalixing the District. � 5enre as a catalyst fvr t�e revitali�atfon of areas adjacent to the TiF. The tax increment financing technigue was first �sec3 in the 197Q's In Califomia ta revltatize deteriara#ed central cfty neighborhQads. T!F No,4 has been created for the same purpase, Chapter 311 af the Texas Loc�l Govemment Code is tlie legislation that gavems Yax Incre�ent �inancir�g. A City may make an area efigible for tax increment ffnancing by desigr�ating a"reinvestrnent zone'"* aiso �nawn �s a"#ax �ncremen3 finance dis#ricY', Designatian of a TIF district usuafly accurs after pet�tians from tha awners af 51 % of the assessed val�s of a certain geograpf�ic ar�a as�t the City ia create the clistrict. A Y!F distrEct may also be created without a p�titian af tF�e owners by direct act�on of the Clty Council. T1F 4 was crea#ed by such an actian to avoid tfie time cans�ming task ot securing endorsemer�t iram the 1,330 affected proparty cwners. A TIF district allaws for the tax incr�ment ganera#ed from appreciating praperty values witf�in the area io be dedicated ta new public improvements within the same area. As the assessad value of pra�et�y within a YIF district Increases over t�me, arr increase ir� the taxes coiiected fram the additional val�e is captured in a iax increment fund. Tf�ase f�nds are men used to finance new public improvements wlth in the district, 3 As speciffed by State law, a iIF Distrio# Board of I�irec#ors must be ap�ointed ta avarsee the administration of the iIF district and �und. AddltiortalIy, State �aw requires that praject and finance plans �e develnped as planning and fnformatfon taais in the adminis�ration of the T�F dlstrict. �roje�f �n� F'ln��e �la�s The `faac lncr�ment ��nance Qistrict Project and �`irtance P{arts represent a study that projects the �otenfial saurces and uses of tax increment dollars. An ecanamic ,mpact study and av�rview is pro�ided fn t�ie Finance Plan aiong witH es##mates an the poten#ia! reven�e #hat w�ll be availabie ta fund �rajects. The �inance �'lan a�sn o�tlines i�ow TIF Dfstrict incremeni rnay be used and shovirs the time ov�r which expenses wii� be ir►curred. A proJect plan provicfes inforrnatian on the current .fana uses wi#htn the district and provi�es �nfa�rmattan of ti�e devalopment to accur. It alst� pravicles inforrnatlon on reloca#ion of indivi��tals affectecf by the TIF Distric# and casts associated with non-Ttl= Dis#rict public im{�rovements, General, tt�e items discussed tn the Projec� and �'irtance Plans maet requ'rraments speciiied under 5tate I_aw that govern Tax Increment Financing. il� I�cre�ent TIF �istrict Tax Increment is created when new taycable devaloprr�ent oc�urs within an es#at�lEshed il� Disirict. After its creation, the appraised value of the T�F ❑istrict �ar�psrty be�omes the base vale�e tor the purpose af Tax lncrement Financing. Asl taxes collectec� from that t�s�se vaiue conti�►ue ta ilow to the tocal government entities #hat tax within t�e dlstrict. Taxes co�lected fram �ew taucable value within the Ti� Distrlct hecome the source of the Ti�' District tax incremen#. `fhis increment #iou�vs inta the i1F Dlstrict Fu�d whlch is managec! by i�e City's �ina►nce Department. Tt�e amoun# of increment tF�at is captured in tt�e il� DistrEct Fund iri depe�dent on the partEcipation of locel taxing entities. A iacal taxing en#ity may choose to participate in Tax lncrement Financing by deciicating a portfon af its tax increment ta the T1F �istrict Fund. Ti�e participation af an eritity in i'ax Ir��rement Financing is aceompi�sheti thr�ugh an inter- local agreement between the enttty and the City. �Inar�ci�g #�� 'rvjeci New public ir�fras#rticture fnv�stments wlthin �iF District #4 are expect�d ta be funded ar� a pay-as-you-go basis using available cash increment as it is created. At this iima tt�e District does not expect tc� use pubiic debt instrumenis to finance improvements. The �istriat will ent�r i�t#a deve�apment agreements wi#h investors, property owr�ers, and develo�ers to reimburse o�ar time the cash inusstments they make in t��w p�bfic in#rastructur� assocEated with private developmen#. � -'�i GI'�}� '�-�� s�E,i p� � — - �_F - ..�.- • _ � . � � ) I • _�j"' � . ,;� .� L' ' ��.1 .��.t� d ;+�,� •s.. ,�, ,�`•i ��< „� :- ; ;.�ti:+_._ .; .: �� ?'¢ , ra u�. .T: . ' +� i ; � r ''* � � ��I�Pl ;'R+� I � - � _ � •t '�.rti:■ 'f•�. �� ` 7 ' � � . .''� � - }: +. y � ��ir�3 `:�;ti1',�.. �!! 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'4 �l "��y, •" l, . . ! . _ �' ��,y�r. ��ti _ �� ks C 1�;,M1 � � � "µ.+}; _ � S � � +YI � "�'��5�'+ w il .a�P_ - . �: . �' :3 i i_ • �� 5�: � E a �r_ ,�_:+,!' �g��, �. ��`Ij� , � �� i�'�6 �.�i �� w � `� :� �� — �_ ��` w� �� i�'i�� ! �1s �� _ : �� - - f �i�i. ; t °I'u ' i: _- I � �-r� � ;; ��_�.�■� i;i.�l �_ �= e �� i � � _ s=y � = �'� ` ` 1 =� � � �i�� :�~ � � .� — �a�1�1'' _� 1�_� — Q��1; -...__ _ ��,- �� -��—,� f .. �. �--_-� � a� ��m�,... �� . -- �� ° E ,-� �� i a'= =� '��ii�iu �1 ! i �i r� ii ac �-,� — IH lii�1 ..� % 11111 3 t ` �- � [�iLll;i � �� Il!l�li� 1�1 Hi �� .� �� t 1 su�F� 11 11 1� 1� �) il � 'A i �i�� Il1 iji�1 � F �1� 1! i � — �� ' ��, � �_�� x#� � �� ,� . 11i m i E,!�;�+.f: � �w�._ i ai•:E' � _ �jl 1 , � �i ��'�� p�� '� il �_� ��i��_ � �� - � r ^�� _ =E � �� _� cE� �� l� =2 �,'� a la �r �2 .ei�l � � � ,� - R - �:�= ` �� 5 ��,�i= r��- � � 1 � �i� i�. i . �� irJ _��, � Ir t - 1 ' � a':� �1u�� u� i�1. �l[ Et11! �•.� u! - � -�� R�� , �, 111 -. /�- IF IPI� �'i 1 1 I il I 'i � i 1 111 I �� gEll �1( f 11 -!1 1 � � � � �� _�� i� f �I � uii�lu�ilui iu _ i ui� jJi�. 11' �� I 1� ii�i��f i III 11 "11 Ii ii��ii�i�� r 1 �Ir! �l � 1 11 II Illlllif I 111i111f111 �OI'� �/�i�� Tax Increrne�t �'inar�cing �is�rict #4 1.:� ��.� � ; � �1 �__� � � �.a. _. �� r� � �� \......SC �V�' r�_.__..�"_.:IG1_.�£I�H�lll�D� � _ � �.r , .--,—..__.._�_ -� :�� T-' .�� .L�� -.�-� L._._ �� . �� r -.-... ��_"'_� d � � — � � � � _. � � �� , � ��--° �f��C�.._ _..�� .�. �� q �� "� �,�aa F..� ae�;�d �ednery zoao Smell polygor�s a�s pro��es carved aul of TIF_ H w�� M�� J��T Pi��N �a��g�o�r�d In A/lay 1995 the City Courtcil adopte�# the Souihside Medical �istrict Strategic Plan (see Appenc�ix A- St�u#hsid� Mac#ical District Strategic 'Plan • Exect�t�ive Summary}, TF�is Plan estabfished the framework upon which tha revitalizatian 4f 1,40p acres commoniy E�nown as �he Medical �istrict, lacated immediatefy snuth of the Central Business D9strict, would move farward. The Plan was sponsored by the City of �ort WortF�, th� �ort Worfh Trar�sportation Authori#y, ancf rnany private businesses loca#ed within tl�e Ofstrict. ihis $150,000 two�-ysar �lar�ning inttiati�e was significant fn rnany aspects inciuding the amaunt of input ar�d reviev�f irom citizens, bu5inesses, govemment, property awrters and community stakehofders. It profiEed the �tistory, #rends, opportunities and challenges af the neig��arhaod, and most importantly estabiisY�ed a strategy for implsmenting the ravit�lization pl�r�. The pian enUisioned the need ta create a TIF to support a�cf encourage private investme�t. It would allow tt�e Gity to use its pawer of condemnation tc acquire pri�aie pr��er#y in order to carry out an area-wide redevelopmen# strategy far the district, The princi�al ac#ivities of the il�= �isirict w�re to pror►ide funding for major capftal impra�ements and to pro�ide funding for p�alaiic infras#ructure which encouraged privaie investment. The P#an recognized that improvemer�ts fn publin ir�frastructure would �e needed to attract new investment. ihe cost of the rer�ufred infrastructvre exceed the City's normal funding amounts and the zmprnvernents are needecf in advance of th� City's norrnai fundfng cycJe. See Eachi�rit A- Aeria! P�ota �f Fort Worth South. T'�x in�e�m��# R�i�vestmer►� ��ne Nu�b�� Feur � Established November 25, � 897 �r� September 23, 1997, The Fort Worth Gi#y Cauncii passed Resalutlan No. 233� which se# Nnvemlaer 25� � 897 as the dat� far a puk�lic hearing ta be held befvre the Cfty Council regarding the desigr�atiort o# t�is property as a rafnvestment zone. At the conciusion of tF�'e public hearing on Novamber 2�, 3�97 #he City Co�ncii passes Ordlnance No. 13259 creatfng Fort Warth iax lncrsment Rein�estment Zone Number Fo�r. Prior to the City Gouncil appraval, the �one received support and resolufions of intent to participat� from other taxfng �ntities, including the Fort Worti� Ir�depencient Schoof District, Tarrant County, The Tarrant Co�tn#y i�asp�tai Dis#rict, Tarran# Count�+ �lunior Callege Sy5t�t7i, and #f�e T"a�rartt Coun#y Water Cvntrol District #1. The 25 year term o# the Oistrict toak affect on January #, i997, !t is schecfuled to terminate pn Decers3ber 31, 2022 or when ti�e incremen#al tax revenues contr�buked to the DEstri�t reach $60 millian, whiche�er comes first. Ses Exhibit �- Map af TfF Boundaries, 7 T1F District #4 has been created to pro�ide funding for new pub�ic infrastructure to support ihe revitalizatic�n anrf redevefopment of this area. The bot�ndaries of TIF Distric# #4 are s{ightEy smallar than the Develvpment Distriet, b�tt for prac#ical purpases the iwo are cangruent. Fort Worth 5outhside DeveEopment District, Ir,c. is a 5�1 {cj(4) non profii develo�m�nt campany that carr�es the sam� name as the geographic district. The organizatian 1s comr�anly known as Fatt Wor�h South, inc, It was created in May 1995 ta afriv� the eevitali�atian af the area initiatec! the creatlon of Reinvestment Z�ne 4. ��€is4ir�� s�s a�� C��ditt��s The near southside is or�e of the oldest neighborhaods in the C9ty, and has experi�nced signififcant char�ges to i#s originaf characteristics. ihe na#ural topograp�y of t�� District is ger�eraiiy ffat. wlth no major lar�d torms ar drairtag� patterns that would pravide signifiaant limitations or constraints to devefopment. Yhe physical �,ttri�utes af t�e �fstrict are therefore ir�fluenced almasi exclusively by the historic development {�atterr�s and other h�rnan-relatec! factors, Faflowing is a s�mmary af t�ese charactaristics� Land Use Ths Southside Medicaf District is a larg� area consisting of a diversity o� land uses ranging from singte-family ham8s to high-rfse medical faciiities to industria! and warehous�r�g uses. �xhib{t C�Land Use Map) ldentif3es generalized I�nd-use zones. Fallowing is a summary af thes� Iand uses: m Majar medical institutians and assaciate support uses are generaily located in three aare areas as described �elow. Uses in these core areas include high-rise madical facilities, emergency raoms, docto�'s' �ffices, rnedicaf su�}�ly establishmer�ts and ather s�pport services. The nor�hwest area is tFte iargest �rid includ�s F'laza Medical Center, Cook Children'� Medical Center, f�arris Methadist Fort Worth Medicai Center, VencQr bospital I�or� Wart�r, and Med�ca! Crou� of Texas. Lacate� in the sauthwest quadrant af the �istrict are A�I Saints Hosp[tai ant� the Moncrief Cancer Center. JoF�n Pe#er Srnith Waspital and Heriiage St. Joseph Garden's are lacated in tE�e sauit�east quadrant. ' Retail uses are general#y iirnited to restaurants and smafl shaps in one and iwo- story buildings with a noticeabie absence of majar grocery and �epartment stares. Smailer retail uses are generally located alang rr+ajor arierials. Recent r�vitaliz�tion along Magnolra Avenue has resulted in tha development of sigr�ificant retail�restaurant uses aiong thi5 carridor, Offioe uses are ganeraity assocEated with and lacatec! in clase proximity to the medical institutions. Uses rar�ge from smali office buildings ta larger, mid-r4se off�cE buildings. � industrial usas are cQncentrated afong the norihern and eastern sides of the District. Uses include light industriai and warehouse uses, • Single-famiiy residentia! �ses are g�nera!!y concentrated in twa xones, ane south of Rasedale and tf�e other narth af Rosedale. The area sauth of Rosedale, particufarly that area encompassecf by ff�e FairmQur�t Histaric District, has shown rec�nt slgns of ravitalization and incfudes tf�e most stab�e neighbarhaads af the District. Designatlo� of this area as a National Register Histaric District has cantrfbuted to the recertt revita�izatian. Wh�le single-family hc�mes are the predaminant land use, multifamily buiidings are scattered thraughaut the area. The northern residenfial zone is generall�l less stable and has experienced significant deci�ne ancf int�t�sion of 3ncornpatibie uses such as industrial, This is part{cularly #rue for the residential area between Main 5treet and the railraad tracks, where vacant land and abandoned bulldings precEominate. ResidentiaE uses are gen�rally �imited to 5�ngle-family homes. Singie-family uses are alsa located east of the 8urt�ngton Northern 5ante Fa and Unian Pacific �lai�road tracks as well as east of fr�terstate 35. Multiiamily residential uses are scatterad Chroughout the District and range fram smal�, E�tdependent apartment buildings ia a high-rise apartment towers. Community f�c�ltties are puf�Eic and semi�ublic faeilities wrF�ieh serve and promote the safety, educational welfare! recreatianal, enkertainmeret and spiritua� needs af i�+e comm�nity. T�iese uses include the nume�aus scttaais and ohurches that are scattered thraug�otat the District. Ptablio schvols included Tr�ml�le �echnicaf High School, Van Zandt-Guinn Elementary School, DeZa�afa �Eementary Schaol, and �illy B, Glayto� Efementary School, and tk�e Accelerated �figh Schoot. Dedicate� park land and recr�ational faciiities are limitgd to Fire Statian Park (i.5 acres), nort�r of Alien and west of Hemphill, and Fairmaunt Park(.75 acres) En the Fairmo�nt Histori� Diskrict. Vacant and �nclev�loped ]ancf is scat#ered througha�t th� District. Vacant parcels tend to be fewer tn the areas to the souif� and immediatety adjacent #o t�e hospltals and in c�reater number in the ir►dustrial and sEngle-iami�y areas to the north and east. Yhis is pa�ricuiarly true far the area be�+rveen Main Street and the raifraad tracks. Abaut 3(}9�o af the 1,4QQ acres is �acant {and. Transportatiar� Yhe Sat�thside Medicaf District currently exists with a framewark for roadway, pul�lic transportation, and parking facii�tres that offer �ath cl�alEenge and apportun�ty for the future. `�he proximity to the CBD, th� reconstruction 4f fnterstate 3�, #he crea#ion o# a rail mass transit terminal at #he T&P Depat, and the 9 contir�ued redevelapmeRt of the District itself, suggests a signifiicar�t transit�on period, � Public iransportatian in the Distt#ct is provided by the �art Wnrth Transportatio� Authority's �i�e primary bus routes and by MiTS vehicles. Parkfng in the nart�twesi �ua�ran# is eansider�d adequate, bu# future growth in the medical sector is requiring cvnsideration o# additional parking structures. Ther� are park€ng daficiencies around �fahn �'eter Smith Hospital ar�d at scatter�d ofFice or restau�ani focations within the araa. Visual Characteristics The visual and landscape quafity of ah urhan enviranment contributes significantly io the quality of that enviranm�nt and the image that people hav� ai ttiat araa. �ollawing is a brief summary af the visuai and landscape characteris#ias of �e Distr�ci. � The most significant view withln the Dis#rict is af the downtown Fort Worth skyl�ne. � Significant "�andmarlc" buildings within the District are limited to high- rise medical facilities, particularly Harris Methodist, Cook Children's, Plaza Medical, Jahn Feter Smith and 5t. Jasaph Gardens. In addition there are a number ai significartf historica! struct�res. e Along most arterial streets, inconsistent iand �ses, are�iitectural character, #�uilding set bac�Cs, and streetscape trea#ment ca�tribute to tNe lack af q�ality street envfronmer�ts and t�e inability of these streets to establish st�ong �rban farm. � OveraH, the District iacks consistency in �andscape treatmont, resuiting in i�re absence of readily icientlfiahle image or identity. Significant landsca�ed spaces �re fimlted to areas within the campe�ses af the rnetfical instit�tions and on a limited num�er o# tree-lined street in ##�e ofder residential r�eighborhoods. Historic Resourc�s �he Districf t�as more than 100 structures selected ar eligible for t�e National Resis#$r af Hi�toric Places. ��V��b�ift'1@f1� �C�i6k'�45 La�ck ef a strong land use policy and suppor#ir�g zaning �as coni��huted #o deteriorating land va�ues and su�stant�aEly declining residenti�i base within the Dls�ict. The concept�tal pla� far frhe revitafization c�f ti�e �e�elopmenC flistrfct is based on the naec! for a rational land �se paitern, reinforced by zoning, It will provide a foundation for growth and stabiiity, as well as a framework withfn which �oth sh�rt- and far�g-range decisioris are made about phys�cal 1� devefQprnent af ihe �istrict. �lements address�d in the plan include lar� use and redevelopmer�t o�partunities, urban design and open space, and transpartation and par�Cing (see Exhibit � - Developrt�ent Cor�cepts). � T�e Strategic� �lan has been developed as a g�ide for the revltalizatian ar�d future devaiopment of the Qistrict and surrounding neighborhoods. The phys'r�al planning concepts that serve as the framework for the pian are as fallows: � Relnforce existing medical institutivns by providing Qpportun�es for expansion and encat�raging t�e development of inedical-arien#ed setvices in close proximity. 0 5#abilize and enhance axisting viabfe neighborhaods by encouraging infill or appropriate uses and ppohibiting development of rncom�afible uses. o F'ro�Ede ac�di#ional oppartunities with the developrnent of a mixed use/residential district a# Hemphil! Stre�t and Rosedala Street, a Provids an econamic stimulus for the exfst€ng Magnolia Avencae commercla! carridor by e�rcau�agir�g the development af office and residential �ses in areas immediately adjacer�t to the corridor. o Pro�ide ior the derrelo}�ment af a commur�ity-oriented retail ��nter to serve the needs ef ❑isirict employees and restden#s, � Encourage the dsvelopment of i�igh-quality, freeway-ariented cammeroial development along the planned realignment of fntersta#e 3�. ��rovide for new business growtt� and job creatfon within the Distriat threugh the estabEishment of a Technology Parl� and Vickery Business Distric#. p F'rovide for lang-term, moderately prfced hotei aceommodations. a Encourage a stimulus for eeonnmic revitalization of the Evans Averrue Co�ridor by encouragir►g �Freeway" oriented develapmer�t at the Rosedale Street inter�hange with Inters#ate 3.�W. m�stahiisi� redevelapment opportunities thai will serve as a ca#aiyst iar the revitafiza#fon of the District and surroundir�g areas. 1i ��t��-� ��.��r��_��.�m _ _.- - _— �-- _�, , .. .�._...o � U 'L 4LJ �..JL...1 'ra � =�� U� � �.,� : LVi�e�ns�H C�m�poos K'"� ' a � ! �� - ,.�,rr . �� Co�mmelrs�Q �-`� � o � � � � � � �.1 j a.va��wa�` .wr ^ • � � U ' Itetail �� !/ , � ,..�� ce � : � � � - _.. � -...._ �......_...._ .�.._� '� � pROPoseo �� - .,� ��rt rtwr. ui - ., ��Sj��'HQD� TO'1MNY �i Q � � s��oo�r��ffi�u�c�� '.: � � o� � � � I' �� _ �g�k � � � �' �� =� �" � � �o. ,:=.. � �J�� P�inroau�y sru�ets � — B��e Pat�s �' � � � � '� � � � � � � `� � � � � - �� _,'�� N p � _� � �� fl� Ud'. � - :�� . � . _.. � � _.,�„� � . .. . � � �� -.-�� _....... - _ : .e.. . � . - - -- -- __._ , ,�: � - �,.� - �- .�� : . � .� � ,.. � � � � . o ,.�,-_ . . . � . .. _ � � � �� -:...; . �. . . .. - OL � 1 � -�..�" ❑❑ € ...... � � W,�, � ..,,... � - -- -.��C � .� � � �� DD��OD�OC7��C �oaosEo ''�. �' ��i � - `�---+_� •0`�` � [�� ° � � �� a ❑' ❑ nwr ,a, � � � "" �„ �ryD � � =9LL WhY w � `ru. � _ � U . � _ e� � ❑ ; � [� q o� � � . �]� � =� ; ;�- � K�Sew��c � H ' �J" : � _ � = � � �` �I ' .�`_',� ❑ � I f -- �� '__'��.' � tl �� Q �'-. --i �� :� :�-^E! �'�. _ _ � �� s � � � � ��'U � 0 �` � _ ._ _� � � � - _� �=� ��: � I_ � lt � ' _ 'i . 9 �► "'� . � � _ . . � , . i; �l , . � :- �._ � - - - �. -- _� -- - � - � -:. :.�_� � �r . _ .... . �_ .__._..__: �-�- . � � _ - - --- O ° �L .� �T � A,.�- ,'`�� aJ � � � � '"i �"""""`❑ � � :3.Yi - - ' .�r: - � _ _ �, � / . ��' d _' -r- _ - �I M�S7LE70E j - - - �.� � � - � �_ y� C , � � � =-{� � Q� � �� ° .j � -- -- - -- - - _ -- -- - � :.1- ' pl.� � . � �� -� d � _ _ � j''^�� flQ-��r � o = � - � � ��' 9NEACRE �� ,��'.�c n � � ❑ .,•.- N8.560 S�UAfiE F£E1'1 I � � '' a� � � .'��• F�! � i �k' �� e a f7 a _: V .� `� � _ " '-`-' �J �J �J �� :. � .�': l---� L-- � .d,; , � � � � a� � ,�� j� ; _ � � � � � �..� :, �.� � a � , G� G , _� � � o � :��-,: �I-/}I� IILYi ' � � ' Iw: �l w �1 '.� � n R .�. I f f I ' �J�J d .` ` .s;� ; � �-,.._.�.... --_ I -� , ; „ -�.,. _y: � �.wnna � !�:. ; i � _�.. a�� . : � ❑ .. M w lK �aao FEEr rea �Inuurs> � �. . •. _ ... � � _ ....... , y�.-xnz�--- --"-- - - ,— - OECEM9ER �989 FORY WORTH SOIITHSIOE OEVELOPMENT DISTRlC7 ir�C 1506MISTLETOE90ULEV7�RD � � � .d MRYwOs1TM TE%AS 78i0i H v ru.�w .,�,9 fr , - .........�� ❑ ��r� � � 9 = � � � � b � � : �1 �I I1 II 11 I� ��,�..1�� 11 � e � � �� E; f � �n�� g � g $ � v H � � � �t�j,��ts !ay Gate��ry T�e fvllawing Ifst of prajects has beet� oompiler! frorn iniorma#ion in the So�thslde Medical Dfstrict Strategic F��an (Sasat�i & Associates - May 1995) and fram the ongoing work of Fort Warth 5outh, Inc. It is a tist of �ot�nEia! pub[ic infrastru�ture �rojects that sup�ort the recfevelapmen# af the Reinvestment �on� and could �ae �nanced by the increment prajected aver the 25 year term of the YIF. 'Fhese investmants wauld serve as an ir�cet�tive #or private sector investment. The na�ture of this revitaEixatior� projec# wil! reqGir� proJect ar�d financing t(exibifity to etfective�y stim�late re�nvestmer�t. They are grac�ped by category to suggest the s�ape of planned investmen#s. The f�Ilowing list ftYclucfes most af, but not all, li�Cely prolects: f . Residential 3o,OCiC1 peap�e wvrk in the Medfca! Distric#. 2% af tha� po�uiation alsa live in the area. A surv$y af worl�ers indicated that 97°lo wauld li�e in the area if suitable accommoclatians were availabie, ThIs factor {�laces new residential cons#ruction hfgh o� tf�e list of priorities for #he TI�. if we are abfe to br»g bacEz resicfents the ather elem�nts of the master ravitalizatian pfan will also begin #a devefop. T!� expendit�tres will be mad� on pub[ic infrastructure piaced in the public right of way that su��aris the construction of new reside�cas, fe curbs, sidswalks, 18ndsca�ing, lighting, �tti�i#ies, etc. Mutti��'amiiy, New / Ivladerate income Renta! Apartment Cammunities Multi-Family, New / Markat Rake �ental Apartment Communities iownhames #or Purohase - QEeander Walk - Hurley to College Si�gfe F'amfly Homes - Vintage Cc�Ilection 2. Aetai! As the number of �e4ple living in the �istrict graws the need for retaii s�rvices wil� also grow. Actually tF�ese two ssctors wi�l develcrp t�gether. TIF resaurces dedicated to #i�� re#aif sectar wil� iocus on encvuraging Investors to devefc�p those services needed by the resider�ts and em�loyees of Iacal b�sinesses. Rasecfa{e / Hemphill Neighbc�rhQod Shopping Cente� Crocery, fast foad, & retall tr�frastruct�re, utilities, paricing Vfilage Squar� -�ne acre par� with surrounding �0-20,000 sf retafi Pla�a with fountain, landmaric, landsca�ing, etc. 13 3. Business Deve{opment Sites Wrth the enticernent of financial suppo�t fram a TI F we anticipate interest from develogers who see value in developing vacant and underutiliaed land, �'izree �igh potentEal �arojects are ider�tified below. Vic�Cery �oufevard Business pistrict - between N�nd�rsfln & Main k�atel/conference Genter Technology Park - East af 5outh Main Street 4, Streatscape / Baufevard ! Rarkways / Gateways Magnolia 5tr�et - HemphiR to South Main Oleander Street - Hurley to Caflege Sfluth Main Street - trees, [ighting, sidewaiks Roseda�e Street - landscaped median &�aricway, irrigation, utilitEss Via�sery Bouievard - landscapec! medlan and �arkway Hemp�iil Street - landscaping P�nnsylvania/�lattie Str��ets - fandscaping Hendersan Avenue - lntersection & bflule�ard improvem�nts Pa. $i Rt?S�Cf�IE Other Streets - Summit, �ighthr Jennings, Alien, 8� E�ans 5treet Furniture Benches, PubEic Art, Sculpt�ures, Trash Receptacles, Transit Snelters Decorative Ligh#ing nat incfudeci in other p�'vjects Gateway feature� and signage to signlfy entry inta the Disfrict at: Summit A�enue overpass of I-35 Henderson at raiiroad �nder�aass Hemphi�l at railroad ur�derpass ,�enntngs at vailroad under�ass So�tth Mairt at railroad underpass Hattie at 1�3� Rosedale �t I-35 AI[er� a# Sauih Main Hemphiil at Allen Eighth si AIlen Ftosedale at l�orest Park �. Parks Gva! to create 5d acres of new pubiic & private green spaces Pocket and li�ear park� throughout the [3istrict incorporated intn protects �Eartt 1t 2Q0� treeseape -.�ohn D�nve� Foundation, Car�o�r Survivors Park Village Squar� - Plaza features, Ca�ebo and l.ancEmark Tower Trimble Technical Fiigh Schooi - Recreatlanat �'ar�t ! Playing fields Troliey Stops - Within trarrsft lin�Cages to Downtawn 14 6, Schoa�s The qu�lity of the facilities an tne schaol campus's and in #he areas Immediatefy a�jaaer�t ta the schaols within the Dis#�ict ne�d to be impraysd. TIF funds can �e used to supplement �IN Independent Sci�ooi Dlstrict aapital spend€ng ta expand, improve supp[em��t t#�ese faciitties, 7. 5ignage �mploy caty wide arteria� directianal and fnfarmatior�al signage as suggested in the �in�ages afudy within ❑is�rict. 8. �arking �tr�ctr�res Viltage Square - Shared resfdential & retail par�Cing facllity ta suppart Magnofia retaii ac#ivi#ies. 9. Administration Expenses in this category reflect tha cost of managing and administering th� TiF District, Pp��sed Ch�r�gas in �Unic��a! Ardi��n��s Ai the cur�ent tim� the �F District does nat en�ision ohanges in b�iiding codes, zonfng categortes, ar otF►er municipal ardinarices. Hawever, the C�#y is developing a new Camp�ehenslve Pla� whioh wiil raflect th� de�elo�ment concepts and Iand use suggestior�s of Fort Warth Southside Development District. Mona��j�c� �� The natur� af �fF Dis#rict #4 is that �here will �e purci�ases anc# investments made acrrass many u�e categories and over a large geagrapt�ic area. TIF #4 is the largest reinv�stmer�t zone in Texas. Almost all of the investments made by the TI� wlll ha�e "non-�71'O�$Ct GOS'�5"r �e expanditupes an related prajeots that wili be r�ce€ve financiat participation from either pui�lic or �rivate entities. However, it is �o# �ossible io quantify the non��araject costs at this time, vthsr than to say that they �re exp�cted to be far greater than the 'iIF cos#s on any singls projact. Ar� exam�te of a sp�aific proj�ct tha# wiil serve to it�rther define the challenge raf ide�ttifying speaifiica!{y non-projact costs is the 5tafelCity project #a widen West Roseclaie Street frarr� a four lane street ta a sfx-iane divEded boutevard between Forest Park BQulevard and I-S5, ihe $36.fi mil�ion praject is furtded 50/�0 6y the state and city, Funds are not avaiEable to landscape the mecliar� and parkw�y along #f�e new street, �stimated #o cast $1,6 mil(ian. The TIF could cF��se to �articipata in the cast of fandscaping the new bou{evard, but this is an 15 issue far future cansiderat�tsn by ihe TIF Boarc! of Diractors. If the TIF agreed ta a�sume a partion of the cost of lanclsaaping on this prvject the relatecf nan-projact costs would be $36.6 million, Anather set af �at�ntial investments are to imprave facil4ties on or adjacent to �ubHc school campuses within the iiF Dtstrict. TIF' expenditures would he made in cannection with other expenditures by t�e �ort Wort�i Indepe�dent Schap� District. Tt�e spacific ES� related pr�ojec#s have not be�n determlrted but will be made over time as T!F f�nciir�g is avaitabla anct 1Sa needs ars matched to other de�elapments in #he District. Relac��ic�� Pla� As set fo�h fn Sectian 3't'1.0� 1 in the Tax lncrement Financing Act of tha Y�c Code, the Projeet f'fan for tF�e Fort Worth Reinvestmerit Zone N�onber F'our must irtclude the following eiemer�t: � si�4et��nt �f a r��tl��d of ��oa�ti[�g p�rs+�ns t� �� cffs�E��ed as a resut� o# itrt�i�m��tin� �he plar�. ihe praject pian antic9pates ti�at t�era will 1�e no resider�ces or busir�esses existing in the project develapment area af the reinvestment zone when deveioprnent acti�ities comrrtence. lf a�tions by tl�e T�F ,result in relocation of any persons, the Residentiai Anti-displacement and Relocatian Asststancs Plan for the Ci#y o# �ort Warth wi11 govern their relocation. While #he need for relocatinn is not envisiar�ed, it is ac�nowledged that in ti�e e�er�t such reloaation bec�mes �ecessary in carryfig out the p�blic improvements f�nded by this '�If District, such expenses will be the abtigat+an af th�: District. ihe relacatian program is administered iay the Ci#y's Fio�sing and Human Serves I�epar#ment. 5hauld sucF� a naed arise, persons may appeai #heir cases throug� the established ap�eals process. 1� ��i4Pi��R 4 ��l��#Id�� L�e� 0 �co�dr�i� ��ct Stuc�y Fart 1Morth So�tF��r�ie �evelopma�t �]iatrict is locatad immediately sou#h of ❑owr+#own �ort WortFt. Its neig�barhoods dovefoped early in the City's history and it is now name to Tarrant Coctniy's l�r�est �o�centration of h�spit�f� and out-patien# medical ��rvlces. Man�facturing and �istri�ution, resi�lences, retai! services and �chools give the area a diverslty of activities. It is the Tarrant Caunty's secnnd largest employment cen#er with over 3D,�00 emplayeas (�ort VilortH C�D h�s 40,Oi�0 emp[oyees�. Despite �ts locatior� at the cPassrQads of r�gional freeway� and dpamat� growth of the health care indus#ry, tax�ale real pevperty values En #!�e area have nQt yet sFwwn ti�e resurgence since 1 J�+� of either iarrar�t Coun#y ar iF�e City af Far� Wnrth. Exf�i��t ��Ifustrates the divergence of taxable �raperty values sir�ce 1994. From 1994 tQ f 997, Tarrant County taxaale r�a! property valv�s rose 23°la, city of Fort wvr�h varues rase �6%. Fart Worth Sauth val�[�s felf �%. Exhif�it � Y 17 Stake�aidars in the revltalization project appreaiate low real estate p�ices and appraised values. They see the pros�aects of ecanvrnlc grawth in this sleeping ma�icet as developers and cansumers become avy►are of ecortomic oppar�unities and a communityf drive pawering Fort Worth South. Anat�er measure of the depr�ssed market an� readiness for redevelopment in this significant par� of th� City and regior� is the hig� percentage of vacar�t lar�d. Tax rocords indicate that 22% of the �rivately owned land area in the reinvestment xone fs vacant fand wiih na structures af mater�al va[ue. . The �ort Worth Seu�si�e ❑ev�iopment District has areated a owr►�;r-driven program io lift itse[f by the hootstraps. Wi#f� organixa#ional structure sirniiar ta Da�tntawn �ort Warth, Ir�c,, Far� Warth So�t�rs9r�e De�el�pment District, Inc. has E�eer� in existence since 1998. Fort Warth Sauth is a�01(c}(4y nan�rafit, private, member funded aperatir�g�corporatian. It is associated with a 50� �c)(J) nvnprafit fa�ndatian} Histaric Southside, Inc. founded in 19��, #o support redeveloprner�t. A three party effort s�onsared by the City of Fort Worth, the Fart Worth Transpartation Author�ty, and the b�sinesses ir� the Medica� District funded and produced a strategic �lan for ti�e corrtmunity in May 1995. Goals for Fort WorCF� South harre incle�ded creatiort of a Tax lr�orement Financing program for fina�cing of public improvemenis. Owners of property in the Soufhside cammunity belteve the area wilr realize more af its strang poteniial iar sconamic develapment tl�en ta�t [ncrement financing can be used to a�fract private r�de�elopment. W�th tax increment financing a deve(oper may const�uct approued publtc im�ravement and antici�a#e refmbursement from the futura tax flaws generated by the assaaiatad developmen#. iax ln�r+�rr��nfi �aela��o�� xi�ibit �(T'IF tncrement Proj�ction} presents the projected value o# rea! praperty in �IF #4 o�er the Z� life of #he reinvestment zane as we!! as tf�e projected in�remental cash flows tha# would flow ta the '�IF fund assuming fuEl participation by the six taxing jurisdictions. The exhit�it rsflects actua� 1998 Tarrant Apprafsal Dlstrict {TAD) property �alues which exceaded 1997 vaiues by .�8'/0. Y�is aontrasts with a history of declining values in eariler years. �t als�o reflects the feeling af th� cornmun�ty that the tret�d of declintng prapeMy vafves F�as tur�ed pasitiv�. The cas(� flows ar� a prodUct of the fo!{owing variables: � The �ase year value oi r�al pra�erty ln the zone, less the val�e af tax exempi properties; 1� = Annua! changes in taxaf�le ►ra�ue of the zane; � F'articipation oi the taxing jurlsdictio�s; @ Annual changes in tax rates; g Collectian rate. �ooking at #he histary of 5authsiri� appraisad valve trends and tooking forward, it is possible to co�struct a faracast of rates of cl�anga in r�al praperty values. 7he change in market appraisal expressed ir� Exhbit F(TI� Increment Prajection), and in �xhibits I through N(TI� tncrement Projectians #or each taxing jurisdi�tion) which ar� Fresented in the A�penafix C, �ef[ect the failow€ng faciars: � After years of decline, aggregate taxable rea! property values determin�d by TAD have risen each year after 199� for Tarrant Caunty a�c( Fort Worth. Average annuai �alue increase rates En 4he Gity since 1994 nave exceeded 6%. � Real praperty valuations by TAD wi#hin the propose� reinvestment zQne shovwed some recavery of values in 199a, but decllnes for 1996 and 1�97. o F�eal estate experts estimate �at national vafues of reaf prvpsrty have grown �°/a to 5°k €n 1997 and 1998, Mare dista�t prajections are anyane's guess; if real estate is ta remain an attractive investment aftarr�ative, property �al�es r�eed to out pace t�e consumer price index, which has been increasing approximately 3% a year. � Beca�se tt�e For# Worth ecanomy is anticipated to equal or better the growth rate ot the �atior�al ecanomy for the intermediate fiu#ure, real property �alues in the area s�auld cofl#inue #o grow at ar ab�ve national rates. � A reasonable farecast far praperty values ir� Fort Worth South is that taxabie vaiues will generally risa as regia�aE values rise, b�t to a les5�r extet�t, ba�ed ort (a) recent history of vafue c�anges, (b) the aging pu��ic infrastructure in the �raposed reinvestment zone and {cj current papufar perception amang cans�mers and developers that the �an� is s#agnant. A fair long-te�m #arecast for the �ort Wort�r soutt� area, with stakus q�a conditiorts (na tax incremeni financing), is for average annual growth of taxable real property ai anly 1'10 into the indefinite future. It is passible that mar�et values af rea� prvperty in tne rein�estment zone will Jump at the news of tax irrcremer�t finar�cing for puhltc improvements within the zone. but a more canservative fQreeast is t�at zor�e value� wil� rise at a slow 1°fa rate througY� 'l999, if a pasiti�e cash flow far the TI�' fund is established in �998 �r�d �999, a new devela�ment using T[F funds coup appear or� the tax rQll in 2�01. From �00't through 2010, average ar�nua! �hange En taxable values of the zone with tax increment financing is estimated at 5°/a. This represents addition of ro�ghly $� millicrn {ir� � 998 d411ars� of new real prvperty vale�e in additi�n to a 19 �°!a ap}�r�ciatian ai tl�e �r�vious year's �afu� af #h� zone. ihis added value cout� -• com� frar� a�y combina#ioh of new constru�tior� or apprec#atior�. �xhi�1# � a�ss�a�+es that t�e annual grawth r�te slows to �°/a from 2011 through 2@i�, �s currant �s� f�ow� ia t�e Yfl� fund may have €�ee� obligated far debt service on nntes ai deveEopers witt� previous prajects, Hopefuliy, priar acti�ity in tHe �flne befnre thls time wiRl Have startec! a trend af pr�vat� investment and fut�re deveiapers will require diminisNing assistance fPam the i!� f�nd. Far the fir�al fi�e y�ars of the TIF f�r�d's life, the ar�nval grvwih assumption settles tcr � mod�st �°/n, where it remafns for the ter� y�ars after tF�� surtset o# iFie Ti�' fund. Pr�j��io�� 1'�[s set of growt�i rate assumptians implies a canservative (ar�d attainabie) vaiume or rea� esta�te ccrostructinn in the zane during the life af the T'(F �rogram. Assc�ming a bactcground ��preciatlot� rate of 1°ta fo� rea! property, the fvrecast market value of ta�tat�le real �roperty !n t�e zvne after twenty-five years can be achieve� by taxable new constructio� d�ring that t�me, TFie forecast cash flow ta the TI� fu�d is approximateiy $5'� millinn, mr�asurad in � 99� daliars, This raiio af new constructio� to Tt� aas�i tlow is �pproximat�ly 2.�; f. Thls ratio ls ccanserv�tive by comparison with trhe raughty v:'f ratfa of canstructio� to �tF revenue far th� Stat$-Thomas TiF En Uptawn Dal�as or the 3.6;1 ratio for Mes��,�te's Rodeo City `�IF pra fo�a. ..� � 0 Foe� �fYor�h ��s�r�� Zca�� e�r�ro��r ��a�� - �o� �41c�r�� outF� ��ua�l� 'C9�� tl��oaag� ��0� TiF 'V� Sa.ge 9 2 3 � � 6 7 8 8 1U 1# �2 '!3 �4 16 i6 17 16 t9 Adu�l & T�c 96 changa Peu�ected Ye�r in Vtaiue Taxaobts Vakie 1997 PUA � 23I?.QOQ.QQO i8s9 -9.7476 S 22s,f1�o4�0� 1999 -1.4&96 � �zmo.000 Z04� 5.75% 3 7.i5.5t30.00� 2001 7.fi99ro $+ 253�&W,040 20D2 7'!6 $ 2T1,352.0� 76 2�303 8% � 287.633.120 2Ua4 59G $ 302.4��778 2W� 4% � 31�,t195,36T Z00� 47b $ 326.859.182 2fl47 4�`0 $ 333.726.5�9 2A0� 396 $ �49.91T.�i5 zaos a� � �+so.��,ea� 2Ui0 3gb $ 3Tt,227,28Q 20'! 1 396 $ 382.364.098 2012 3°Xo- $ 3@3,935,021 2tJ13 3% $ +105,fi60.p72 2Q14 396 � �17.819.514 2015 39b $ �,354.15i ZOfs 396 S� 443,Z8+6�786 �+auc��i�a� T@u�n�n�aa� - t�e� � 2�1T 396 � 456.58�2,734 Z41B 3% � AiU,259,812 2018 3% � �84,38T.4Q9 2024 3°k $ 498.SSSfa22 2021 396 Su 513,�5,375 2Q22 376 E 523,281.336 �ted � lt�ge Frwt� 98i9a P1/A � c�,ot�.osmr. (T�300,OOOjI 5,5W,� � 23.6�.Q90 _ 47,352,�0 I 5T,633,12R' �z,ai�,ris 84�(i95.367 � 8�5,85�.1$2 " 109,PZ5,549 119$f 7,315 I tso,ata,sa� 7�i,227„i80 152,364,098 � 163.835�DZ1 iT5,85D,072 I 187.819,5T4 20Q,354.,1fi1 2t3�284.786 I �sts�r�ated FW1SD 'T� Iteae�nen4 !Y/A 0 0 $43,261 387,300 67�.828 945,877 9,181,�td 1,380,0$8 1,586,274 f.8U0.706 t,8B7.S63 2.140.238 z,�i�,ssi 2.5U0.�4T 2,BB8��8T 2.882,b93 3.082,3i{?7 3.298,012 3,�99.898 �a.��,��( � � 21 � ! � � 24 26 � S � � � � � S S $ $ � S � $ � $ � $ $ � � $ S $ 71fi,562,730 � 3,718,i21 2d0,259,6'!2 ` 3.942.9�J" 254,367,4(� 4,T�4,423 268�898.473 i 4.412,892 ?�i,865,375 = 4,658,515 299�287,336 _ 4�971.506 t��cr��tec� i��rem��t a� aQ��redf 4� �v Q� �v� �;v�,2�7,092� i - - - [Yate 4 � E�na�ted Courtfy 7a�c rxna+r,enc AC1A 0 n 15,113� 64,8+69 1t3,6�9 158,387 1E7,B86 231,(l81 �.845 30i,5U9 32Q,575 358.380 3as,or� �� a,sr4 4�5�.19�6 d82.660 518,l0� 550.543 5�.U2�1 �,�z�,��, �`� sso,�sr 896.853 738�893 T80.Q19 822,3B4 �9,i�i,'� �'� � - �5 - ��j�t6�c�� 20�2 �hroa��h� 2�0�� Estlns�ted City Taac 1nae�nanQ NIA p, Q 48.'i25 244.1d4 357,995 498.526 6?2,9T& 727,�G25 B38.1D2 949,128 1,(137,285 S,72B4O88 �,2zt,s�8 1,317,949 'S 4i7.173 �,57 9,373 1,62�.6,39 1,7'33,D53 l,Brl4�7�60 �t,o�p,�s�E 4.ga9,768 2,D78,2�6 2,2Q0,278 2.325,971 2.455,435 Z,588.T64 $3�D.Ps9�.47�( Estirs►ated Hasp. District 1'�x Iclq'eci�rlt E�NA 0 0 'V2,eTfi 5a„24i 96,783 134,9D2 508,565 196,Sd12 226,254 256�836 2sa,ss4 3os,xsz a�a,sr� 358.639 383,�88 411,i�4 �.829 �68.959 499.9 B9 �,��,��z� 530,815 562,376 &95.398 829,411 66�4.4l�6 746,528 $$,�i�.��3' Nate 5 �stknated TC CoIlege Y'ax ltx�tare�e� NIA � q 5,833 2a.tt3 44.�93 81,327 7�,8�1 83.486 iQ2,85�5 115.758 izT,�oa 138,774 tso,2ea� 1$2.137 17�,337 18&.9D9 199,859 293,i97 225��35 z,��,�� 241.OB5 255' ,'5S4 270�672 286.935 3G2.Q�� 318,465 ��.?'76,�4�4� Es VV�t+ T�s I Estim�ted Tola{ Tau Incrament , WA 0 4 17�,325 741,362- 7.29��017 1.81U,467 ��7i�� 2,641.742 3,638,418 3,�46,880- 3,7ST,D�6t 4�D96,$A6 �.a�,4e�ai +b,786,312 �.14�,656 5,517,890- 5,906,D9B' B.293.656 B.$99,425_ �.a��,�� 7,117.182 7,547,4..'4+ 7�83a.BQ� 8,�t7.081 B,9'1i,24@+ 9,4(f1,519 ;�1 �'�;d��%� ,�OtP�: '� . TOF #4 �'13S bB811 �BSl�RBd t0' C@fl'k��11 aChYB fUC �� }(��S Or L!1'If�I �C'� If1((�iT1�flt 4f �BO 977{Iltal'! �1215 S]�tl j@i181��. 2. 'Ttiis s�eadshee� does �ot r�#iee� d4�e financial imp�ct of abatemenls er exempdions of%t�d by [4if�er•s�t taxing juriSdiCiions. 3. iiYe projectians ass�me no chang� in #ax raies in future y�ars. 4. �y agr�errrent, �°lo of �1NtSD's i�cr�ment cantii#�ution is to 6e r�te�med ta tf�e ISD for ttreir use an educaiianal facility imprarreortients w�thin the T!F Distoict. 5. �y agreement, the Coue�ty's contnbUGQn �s qpped at $4 mi�tian, a�d tFre Fiaspita! Dist�icf's mntribution is c�pped at $3.5 Qniili�n. rJadated 3.2�t-o� 4�i4F� ��d 1�i4ho�� 9C�� `f1� Although �xhi�it ��resents an accurate simple forecast of real pPoper�y tax revenue iram t�ie reinvestment zar►e to the iiF fund at�d p�rticipating jurisdic#iorts, �xhlbit G pr�sents a more tt�oraugf� picture af how tt�e reinvestment �an� affects cash flow. �xhibit J Cntrodc�ces supplemental business parso�al Fro�+eny (��f�� tax fiowing t4 taxing �rnits from ihe zat�e, 'iexas local go�ernments levy ad walor em taxes on two types af property; real property and business personai pr�perty. A TIF tund is not entitled to any increase in BP� tax at a�y time. Cvns�quently, wfien a 71F program succaeds at at�r�ctirig nevsr Ir�vestr�nents to the re�nveatment zone, ait increases of BPP value are taxable by the taacing units. The taxing trnr`ts retain a�l fhe BPP �ax. Exhibit G� H(Ta�c Revenu�s With and Wi#hout �ieinvestment Zonej �resent this information in bath s�readsNeet and graphicai farmats. The �stimated supp�emental �f�P tax ifowing ta taxi�g units is s�fficient to lim�t the annua! prop�rty taxes foregone hy ihe five cnmbinad j�risdsctiar�s ta less than $170,QQ0 in any year. After twelve years, antEcipated anrtual ad valar em tax flawing to �articipat#ng jurisdictions wil! exceed the tax ftaws ant'rcipateri withaut the reinvestmen# zone and tax i�crement fft�ancing. A rr�ore detalle� assessment of ihe �8P factor is covered in tf�e ��eliminary Financiat P1an p��ared by Stein Plar�ning and Martagement (Appendix s). 22 ��tsr�a��d �"ot�� Prap��r �"�� E��u��ues �� $ax�s�g Jt�r��d��s �.r�� TI� ��c�� s� ��e�v�s��e�� e ��pe�¢�s W11hov1 71e1nreUmanl 7an• ' + E�l. Esl. Fsl. Eal. Es�. Fai Can! Appraised Reld � Aa C�d Appraissd Yat� Change 0.Q�alcM Fropixry Clwinge ' R�eukel n d Yeludivn in 6Rarkd Yolu� j1) �� 2) In lSPakN Yalu� (t� urd lmnj APPr�moei {Thouee¢nd�) (7ha+netndc�� q�Naa1 �ThouusasndsJ � v ��: ^ B� 1897'.�;::f.'c*`v'��3�3,'�, 5��0.715 SB.7Q� .%�'�.s'�'FN'� a210.7t5 I or 1998 1X $2A9,122 l5,775 � E% i2q3,122 2 ar 19991 �A'. 52�5,553 $6,8�9 1K 52bfi,553 3a 2000 1�L i248,0U9 36,9t1 37G SZ52,920 +or soa� ix sx5o,aa� se,se� � 5x sas5,sss 5� 7�2� iX Q232,99� L7,450 ' 57C SZ78,8S4 6 w 2q03 a% 5256,52A Si,121 5% S2S2,79B 7 ar 20U! 17, 5258,079 i7,192 I 5�f. 5807,426 � w 2005� 1x �zBO,safl II7,264 . 5�L �322,797 9 w 2D6& f% aZ83,2b6 GT,33T 57� S33Q,937 10 ar 2007i 9% s265,699 S7,alG i 5% 5355,H8� t� a� 2uae 1x szsa.sss sr,s��' sx s��a,s7e 1� or 2�08 t% 5271,24.! i7,559, 5% 3392,362 13 qT 20Q0 174 6273.855 87,635 " 5X S�lf1,980 td or 2091 f% 5278,69& i7«74t AK �20,a59 t5 ar 2092 1% i278,d89 E7,79e � �7L 54l5,S88 16 w 20l3 �% i282,257 87,986 �% SA63,A2i 1T w 201� 17C �,295,p06 E7,945 4�G Sl81,458 �9 or 2Q��a' iM. 5287,931 �8,024 � 4'7� E5Q1,23T 19 ur z�ts� �% E29a,9i0 E6,10! 3'�G 5516,2T.t 2Q at 2017 1% 5293,718 50,165 + 37C S53t,762 21 ar 20}B� 1% SZ98,655 S9.2S7 3�rr f5�7,715 � Q+ ZQ�� tX 5299,622 E8,350 3iS 5564,146 2;! or 2020I i% L302,618 �A,.133 + 3% S59l,071 24 or 2021 1X i305,614 58.578 37G SB98,603 2s o� 2022 �x a3aa.ra� se_sn3 ax, as�s_��a 26 or 26231 1% i3�l,788 EB,BSA I a1G 563t,952 27 ar $D2�+ 17G S�ta.9U8 La,776 � 3% SS51,tlQp 26 or 2025 S%• S3l6,Gb5 ifl,863 3'X 5679,620 24 ot 2626 1�C S32t,235 b8.952 I 3�. 5693,829 74 Or 2027 1K 532�,4�7 t9,Wl2 3% S7'I�,Bl1 31 or 202�, 1X 4327,692 59,132+ 3': Si36,OB3 32 0� 2Q28 ix 5330,969 i9,22.� 3'K ;789.185 33 or 2�30 17b E33l,2i9 E9,316 3X G76Q,910 3�! ar PQ3i� 17G $977,621 E9,�la8 � 3X i90�,338 35 or 2412 1�4 �31a,99B $9,503 3'x SB2B,4fi8 Cum 25 Yr., �"'"w-�;k ,,�,� ��.•: %191,355 ; r��.' fiq"��,c:." `.�.. ;,.r, r s; !. �� cr,�.'�f'},�:_�: Cum35Yr. <,s.,,f::=�-_�;_ ;.5:-��t�?:;?'�;•6::r, �,: ...:,.:� ... ..;.��::�.: _..n.. �.N. sz�z,xeo .��:�v.��:�::_<�:`��:�� W{ih Rvinrs�lmenf ;ons Es1. Est. Rea� Esl. Rsud Ra�l Praperly t+u P�vpmty Tax P�opeAy lo Teixinq ln Tmc (2� .lutisdidfons Y!F F+wW jThouc�nda) (T1wu��nnda) (Tlwuennds} RB.7D8 as_�oa aa S&,775 S6,7qB $B7 �6,8�3 SB,TOB 5135 i7,048 56,7fi6 $31D 57,401 36,7D9 5693 87,7T1 i6,708 51,063 58,759 36,7pe �i,l51 �B,SS7 55,708 �t,B5s g6,99B S6,7o$ 52,297 E9,4$5 SS,7Q6 SE,797 E9,918 46,709 53,2Q9 uin,4�a ss,�aa sa.ros SS0,934 56,7ae �4,225 Stt,4�� i6,709 t�,773 511,8�0 55,708 55,232 S]2,418 86,708 85,7i0 G12,915 56,708 56,208 S1�J,l31 56,74d �6,723 f13,969 tB,709 S7',26� 514,387 56,7U8 57,fi79 S1S.B16 S6,7a8 59.f11 515.26A Lb,7U9 58,555 f15,7Zt i6,7U8 S9,Q13 it6,193 i6,708 �i9,+185 S14.S79 56,708 59,97T �i17.174 Sfi_70B S10.A71 517,695 i17,s9S S� s�e,zzs s�s,22s sn �18,7T2 618,772 BO St9,33S {19,335 i� lG1B.916 319,916 SO 520,513 t20,513 SO 521,126 521,t2H =Q $21,762 S2i,762 sD =2�,�15 522,�16 SO $2�.OB$ $23.Q68 �0 528b,B67 /187,7U5 i02�,Sfi2 �451,5}S $37a,554 I120,962 Es1. S�ppiemenW BPP Temlo JuthdiclEonn fT�wr+a4nda� sa sn LO S��a St05 L18D SZSQ i34� SA33 i527 5627 5732 S84R 5862 L 1.D5� Si,157 31,262 51,372 S 1,�86 f 1,571 : f, 868 S i,749 31,8b3 51.9d0 sz,oan Ti2.144 62.255 sz,asz s�,.�� sz,see s�,��e S2,Bd5 3E.976 53,112 i3,252 E3.396 fsl,3�8 L52,314 tYa� �OY HAY Compu[n11att� Ecl. Tdol � Tdal P�ape�tY Tax P�cperty 7wr E�I. Hetl C�"°d �Fvn9ani, C� {Fa*4u�o1 praper�Y Te�,c by Jm'4rdictioqE by Juricdiclione fo 7ff Funm �rhounanao� �Thou�xrs) �jua„a.� .Sf] ��:" .:hi�:i��x�.��:':vi:��?5::�::c£?:i {S$7)� (5671 L67 (3135� (a4q5) 5l95 ta�s9}l (s��e7} ssou (E167� (5+,89� S1,Q9V (5162} {5620} ST,9+C8 {5953)i {5797) 53,03$ 150-001� ISa39) a�,4Q7 ;S123j' (S923j i5,879 [�il�t}i (59fi9} f7,T8� ss7s� �a�,uss� �Q,�as jSb4)� (SI,OStJ S11,Q1� (S7� {S7,�B5) 514,259 ia5 (51.�746j 516,77a 555 I ��1,019} 519,37g t78 �S982j i22,fl76 SiQ4 [5836) 52�,886 St�S � (S879j 527,711 �170 (i�tO) S3il833 1F175 (57<3� 533,562 ltel � (5677) L36.�95 'i190 (S612j 539,l27 S2q1� (i547j 542,355 6213 (¢�B1j St5,276 sz3f �sa�a� t�e,ses 825Q� fS3441 Ti5E_6B3 it1,267 �r2,60B �c,'�;?;.v}"`•;��°''' � i1t.812 55,54A -0`' ,�� 'wF��':��,'�'c xC� �""�',� 512.3$8 , SB,�IS2 '',��`��'�°?v�se.:.':��; �,,..... ,,A. 512,979 515,361 ;'y��,y'�.:","fy:J°;�� 'I "4P �{i� :+j• ;•±;"�•�'n st3.s�2 s�a,2ae r�� .�..'�.�;�� z:.,K�s .di';�r.,. S f 4.226 ' S S 7,042 :�;�v;'��`kx�;a;z,�.��',;�?;:'w sta,es� u+s,ez2 �;�'��`�� 515.350 . 422,727 '�?'.;"��`rss�,�<,,. 518.258 525,5Q5 f� � �Y;'-� � 516.99i �28.256 r�`��;�� F LSy7 "�,.Am�,c,ss�toazry�.:' '',��' 51+l0 : S�, � i,. , .��3 ,60� v�.�¢" ........ .. .... ... �'?fi�:: fiS6LR��1011i; 199T TAd moricel vmlua ot I�mbpa resd yroperlias ir� :ons:� S2�l0.715 ([hauaandsl �N�[ nfe:� O.OSSj Fedor relatinp Ii�eF SAuce!do rdw 10 July rrrik�t �ahis;� 0.97 Prapaq la¢ ralo par Ef OSi {ior 5 �uri�didiurm c! 10D% p�ortklp�lhn}: �2.4316a t�awr�eu live jwte� prrticipeb wilh ID�% of 'vipameM, av�� a,n� ��.ay t� �me a,a,� ��aa: o.ono CoMaLlon t�clor: fl.9B Faa« ,.�t� �u�p�raa aus�n.� ��n� a� ro r.� �n�r: o.2s n� �y ia r.si ym�ny ��s.ti ��nwad �a T�. � y eaaea «� r�97 epp.�isa[ end trene estlmols�. Exdudes !olly-mx�rr�+ praped;ss- (2� Apprdcod maukkel vAlua 1� ahrirdtege i4elera end edjuelad Iwc teA� r'� . .. .. �. I �xl�abxt H �mpa�t o� �� x �r� ��sh �8�� Gor��r�� ra� �u�� in Thc��rd� af ��Il�r�) $30,OGD � 525,OOn � .�� .� _ .•' � ,. _ .,_ , ._ �� '� � � WitHoul TIF: Raal ?raparly o�• "� 7 !VI •�• s �2p.DOG � au Or� ��,o �•••`.• �� iIF; Reel Praparty 7�hx � Afnne ; �s�,aaa � wi�, riF: �ai Pm�Kyr� ; nnd SuPplemet+al 8PP 7sx j Al�IbnSod to TlF ! : . Sto.n�8 a.. - _ _ �. e �,� �_ � � � .� � � . . � .a..:w"'�-'- �.� �— y' � ' e •��w�ow.....s.00..so�rr..o�.or.s�am..o....w.�r � 55,0�0 � �a •—} �T;--! -1—I- 1•,�Y� I 1—! f I—I I--i- I-I—I�-i' f—�! I !� N !� � O O N r m 4 O O O a N N N ry i�� Lrld B7[p1f66 �,..�,. � _;_� � _�_� �-I—� N h N N N {7 Q a a N [V N ��j��t �i��)�� 0 eut�ing t�e f�armula#ion of ��r� Wor�h TIF #4, it was never ar�tici�ated that the inc��rri��t�l cas� il�w from the Distri�t would p��ay municlpal k�nntis sold for the p�zpp�se of c�r�structing new p�rblic irtfra�#ructure. It is �x��cted t��t i�e i��' District wil! enter into agreements with private dsvalop�rs tc� secur� r�imburs�mer�ts for their cost of ca�structing �ublic Enfpastructu�e associated with ti�eir private devefopment prt�]ect. It was also anticipated tHat 'P1� iunds would t�e s�errt as they were a�ailabla t� accvmplish the eiements af ff�e �roject Plan. As of August 3�, �9�9 T�F Dis#rict has ent�red in#o no agreemer,ts arrd has no financial cbliga#ions. �� fi �[�r��ni� �y ��e��y The foilawi�g Eist �f �poj�cts {Praje�t F�Eements) oompos� the �ort �artt� TIF �4 Prv�ect �lan. If t��s �e�� cofnpl(�d from i�f�rrna�tian drawn from tF�e 5auihside Med�cai Dis#rict Strateg�c Pfan (�asa��i & Assacla#es - May #99�} and from tt�e ongoing work of Fort Worth Sout�i, Ina,i�Rt� �i16PP S�a�C6F�0Ii�9f 50 It is a lis# of pot�n#ia! �ut�fic intrastruct�re proJ�cts co�l� �e finan�er� by th� il� increment and w�ulci s�rve s�s inaentives for private s�ectar investrrn�nt. YNe cosi��g assumptions fer t��se e�tirnates �re de#ailed in �xhibit 0�Praject Cos#ing Assumpt9nnsy. The prajeets are grouped in categ�riss vf similar fiype. A summary report of casts 9s attact�ed. � cam�aarisfl� o� �rojects to be initia3ec! withir� tF�a first eight y�ars af the T�� [�istrict and t�e a�tici��4�d i��r�mant is reflecte� in Ex�i�it �(Pr��ect lmpiementation Timeline - 199� thro��k� 20��y 2B Pr��je�t �I�r��f� �y ��e��ry Exiiibit � y. Resid�nqial De�elo��ner�t Mufti-Family, New Low Moderate Income Rental Apartment Cammunity Multi-Farraity, Ner,v Market Rate Renta! Camm�nity Village 5quare - 250 to 300 u�its ($�,�00 I ur�it} �aui�vard Apartments - i 50 units �$2,�D0 / uni#) Tawn�tomes far purchase O�eander Walk - Hurley to Coilegs P�+blic ROW, design, construction, irr9gation, trees Three pocket parks �BQ'x60') � $42,{}QO Ni�e Block Faces on two sides of street �$15,7'�0 l�ig�#ing Single Famiiy Homes - New Infili Vintage Collectian - S� homes 2,5{!0 fineai feet of C�rb, Trees, Sirlewal�s, �ightin�, etc. 2. �i�taif ��velopm�ni 5�,700,0�� Rosedale t Hemphill hlezghbort�aod Shopping Cent�r $ 5� a, � 0 0 i00,Q0a sf tvtal Including a 35,004 sf Grocery Stare and Fast Foad �tetail ia#al Development Cost - $9� /sf Vacate streets, Infrastructure, Utilities, Par�irig Village 5quar� $400,40fl 4r�e acre Park spac� witFi surraundi�rg i�-20,00� st retail P{aza with fauntain, land�ark, landscapirtg, etc, Land acquisit�on plus fmpra�ements 3. �usin��s �?��elopme�t �ites $90,L1{��,Q�O �aso,000 $750,OQ0 $380,000 $130,0�0 $300,Ofl0 ��aa,aoo $iD0,00Q $904,ftd� Vickery Bo�tevar�l Business Distric# Combin�d biooks alar�g new V'tckery �efiw�eer� Hendersan & Main Ffatel/Conference Center a�d �omme�ciai Offices - 500,044 sf T�chnolagy Par� - 1� acres, 2�O,OOt7 sf, � to 8 story str�ctures 1"a#al Qe�elopmet�t Cost - $20 millian Adaptfve rsuse of existfng i�uildings along South Main witi� exFansions P�biic 5iructures . Other projects �, 5tr��ts�a�� 1 ��uleva�d 1 �ar�sw+�y� / ��tew�ys Magr�ofia Str�et �xtent existing streetscape fram �-Iemphill to 5auth Main $S,ODOT�OD ��,00a,000 �soa,000 $2,5QQ,OQQ ��,��U,000 $1 ,OOD,400 27 Oleander 5treet $ p Bstween Hurley ar�d CoHage - poc�et pari�s and landsca�ing 8outh Main Street $ 70 4, 0 a 0 Trees, lighting, sidewallss - 14 Blocks 4U0' �$25,0�0 an two sfdes Rosedafe 5#reet $2,500,000 �andscaped median and parEcway, str�et #r�es, and irrigation Reloca�� utilities underground - TU Eleotric - TI F cantribu#ior� unknown Vickery �ovievard $SdQ,a00 Landscaped median and parkway - 1 B�lacics Cr� 40�' �$25,aoa x� I�empF�ill 5treet $�, 3 Q 0, D 0 0 Landscaping - 2� �lacks � 4D0' �$25,OOD x 2 Pennsylvan�a 1 Watt9e Streets $�, 0 0�, 0 0� �andsca►ping - 2Q glocks � 40�' �t $�5,0�0 x � Wendersor� Avenue - TQtal project cost ��.3 mil�ion $�00,4C?0 lntersectinrt fmprovements at €�er�nsylvania - $2��,040 Ganstr�ct four lane bauievarc! [�ruitt to Rosedale -$20Q,000 Other Streets $1,5QO,aoa Summit Aven�e Eighth Aven�e Jennings Avenue Alien Averr�e Evans Avenue Street F�rniture �t,OD0,p00 8enches, Public Art, Scuip#ures, �rash Receptacles, Transit Shelters Decorative Lighting $z,OQO,ppp $� 0,�0� per ��ock on �ro sides of the S#reet Ligizt�ng not inclu@ed in other Frvjects 200 �Ic,c�s �1 $��,D04 �er bloch face C ateway �eatures $ 5 0 0, 0 0 0 Includes canopy and ornamental Traes, Signage, Manumen#al Gateway Structures and �ollards to sigr�ify entry into the Distrfct. Summi# Avenue overpass of I-35 H�nderson at raileaad ur�clerpass HempE�ill at railroaci underpaSs .lenrrings at raifroad underpass Sauth Main at raflroad underpass Hattie at I-35 Raseda[e at I-35 Allen at 8outh Maifi �lemphii! at Allen �igh#Fi ai AUen Rosedale at Forest Park 5. Pa�ks Goai of �0 acres of o�en green s�ace Lar�d acquisi#fon � $250,�00 �er acre Landscaping r� $�DO,DOQ per acre 2� $i 3,0OO,OdO $12,5DO,OQO , 1 . ' i V �acket a�� .ineap �arks t�ra�ghout tl�e District fncorpara�ed into pro�ects Plant !t 2flOQ - Jahn �enver �a�r�dation - treescape Car�oer Survi�ors Park Village Square P�aza ��atur�s such as Gaze#�a and LandmarEc iawer J Carillan Trolley Sfops Withir� �is#rict on transit linkag�s t� �owntowr� �. S�Ho�i� �nhance pubFic educatia� facilities at the fail�wing locatians: OeZavala �lementary Sc�ool Trimble Tecf�r�loal High 5ch�oi Lily �. Claytan �lementary Schoal Van iandt Cuinn �iementary 5ohaal A�c�lerate� Hlgh Sc�ool New elerr�entary sc�ool campus $25D,�Q� $250,000 $500,t]DO �95.,��0,�0� �. �i�r�ag� ;1 0 0 , A �1 � Arterial �irac#ional and Ir�formatlonal Signage �. ��r��in� Sir��te�p�� 3,� 0�, 0 0 D ` ViAage Sq�aare �3,��0,40� SF►are� Resi�ential & Retail Parkm� facifi#y a�ss�ciated with Village Sq�rars 3�� spaces, Two �evel, Free to User, Cost -$i0,000 / space 9. A��ir�i�ir�#i�rr � � , 0 � 0 , � D � �xpenses assaciated wtth managing and admi�isttating tF�e �1� District. �oi�� 0 2s $��,00a,�ao Multif�m�ly Ir�f�°�sirr�egur� Gost ��,��0 p�r dwelli�g C�rbs / Cutters irees � 30' spacing 5idewai�s IY�igat�or� (initEaily) to establish treas Ex�ibit P f�ock�t Park �►�s�rr��ily �e�ch) �42,�D0 aaeh Land Purchase s,&ao sf �$$.oa per s# Landsca�i�g / trees�ape � $2.g0 per sf frrigation , C�4 $.5D per sf Pap�v�ay L��C�s��l�g $i��l� per �00' �l��s l��e Trees at 30' Cent�rs i5 �er 4�Q' Biock Face trriga#ron 400 I�inear fieet Si�ewa!!�s 5' i+vide � 400 LF Pro�� t ��r��4io�s ��o,aoa $10,OqQ �F �wQ�� $ 6, 750 $ 2,00{7 $ i,400 F�a�law�y �i�htir�� 10��0 �er ��' �l�c�s �'�c� �amps Land dssem�ly o ��rks i�ar�t Land L.andscaping ��rktng S�ru��°�� 8 �aer blvck � $1,206 ea $2.50 per sf - Assumes streets 1 condemned excess �and $2.60 per sf - Trees, irrigation, etc. $� fl,fl�0 Twa Floor �irr��e c�ncrete frame structure �$10,OOD �er space incl�din� circuEatior� One #laor a�ove grade Three �loor Concrete ! Stesl �rame �a3 $12,500 par space 30 ,}� „ � , j `�.� i � � � � ; TH.TS PAGE TN�'ENTIONALI�3� LEFT BL�ANIi. ��4 �HIS PAGE INTEN�IONALL� �EFT BLANK: �� IdAL1��Tl�R� ��D�i� � ��d��114��FdT �ROJE�ilONS �` � s i T!F Year 8ase t 2 3 4 5 fi T 8 8 10 �� 12 13 14 45 9S i7 18 i9 2(I 21 22 23 24 25 � i � 8 Estimakad Estimated iSp Co�nty Tax IncrerRent Tax Incremertt tV1A N/A Fort WorEh Reinves#ment Zone Number Four �LE ie��r�e�ea�� jectiQcu� - ��tirtaas�e� fr�rn ��QO th��l� ��4�� Tax Year t997 1998 7999 Z40D 2Qf11 2L�¢ 2003 24�4 2005 2045 20D7 � 2�9 ZOiQ 2D�9 2012 2Q13 241a 2U15 ZQ76 zatz Z01B 2piB 2024 za2� 24i3 % Change �, vsme NIA -0.5tl96 3.8796 1'� t% 176 1°,6 296 29'0 2'G 396 396 356 395 S% 3% 3°6 4'% 436 496 4% 496 546 546 �� 5'16 Estimted T!F Vafue $ 735,54�„871 5 $ 23+6.376,563 $ $ 225.07T,2S2 � S 22T.328.035 S $ 229,fiQ1.315 S S 234,89T,3Za $ $ 234�2'V$.3D1 $ E T.,'38.89Q,fi27 $ $ zas,s�a,sao a � 24�,552,213 3 3 256.008�Tl9 $ $ 2B:i.GA9.Dal33 8 $ 2T1,594,714 $ $ 2T8.74T.705 � S 288.140,136 $ S 24&,784.340 $ $ 305,68T.871 $ � 317,915,385 � S 330.632.001 $ $ 343,85T,281 3 S 357,811,572 $ $ 371.�16.035 �O $ 390,51q,&3T S $ 410.037.'42�9 � S 434,539,300 S S 452.t�.zs5 c Estimated lncrease Fratt Basa N/A (1.172,2$$} {1Q,ar�,649j is.22a.s�sf (5,947,555] (3.851.5�.:} (i,332.570J 3,3,5f,756 ' s.vas,ass 1�.OD3,342 20,459,948 28.fq0.172 36�fS5D.843 4�C,198.834 52,591,265 fit.235,� 70.139,OD0 ' 82.386.313 � 95.OB3.130 106,308.41U �22,052,70i i38,367;164 ; 154,462,956 174,4A9,65B : i94,990,425 : 216.517.394 ' Tatal i�ecr�me¢uts �rr�r �e aafe 9� �tte 1C1lF i - $ ; - S t (t24.54E3} $ � (90.1�5) $ � (55,329) $ � {20.188} $ i 50�T79 $ t i23.16G $ � 497,Q01 $ ; 3os.esa s t 426,324 S � 546,i7D $ i 669.8'�2 $ � 79B,758 � i 9'�'f�717 $ � 7�062�606 $ i 4,247�853 $ � t.440,509 $ � 1,&48,872 � � 4,849,25D $ � 2.QS5,3S3 S 2.347,689 $ � 2,&93.502 S� � 2.954,tQ5 $ � 3.280.239 S ' +� - g {21,T7Zj� $ (15,752) � (9,6T1) g (3,529) $ B,STT � 21,53� $ 34,438 S 3a,�as � 74.526 $ 95,477 $ 197,056 $ 139,283 $ 162,17G So 185,756 $ zse,ias $ 251,89 B S 28fi,B44 $ 32S,27f $ 36S,18S � 4i0,444 $ 46x,'!15 � 516,413 S 573.425 S E�timated � Tax Maemesd AUA - $ - S (72.754J � (52.636) S (32,3q6j $ {f9,793j S �.663 $ 71.9�8 $ f15,Q80 $ 184,07fl � 249.441 S 3i9,05Q $ 391.16Q $ 455�+133 $ 541�93d $ &20,730 $ i28�� S 841,486 $ 958.529 � S 7.08D,255 � 1,208,949 $ 1.371.4T2 $ 7.544,224 0 1.725.665 $ �.9i6.179 $ Estimaied FlasP. oisn€ct Tax Ina�ment N!A (18.2431 (ts,&xs� (e.�� (3,i19) 7,$45 18,U29 30,437 , 47,$91 ' G5,86� 84�384 i43,455 123,'� Oq 1d3,3Ci44 3 16d,174 �sz,iss . 222.5fi1 253,5i7 ' 285�i12 , 318,195 � 362.722 �aos,azs 456,+414 ; 506.8(12 $( $ 24,Z89,92'� 5 ��246.'!6T � �G4,�82,f52 $ �,75Z.833 � �,�rti Estimated Estimated Fstlmated TCJC Waker District 7ota1 + Tax increment Tax 1ncr�nent Tau Incren�ent � N1R i�f/A WA - S - 5 (8,748) $ (6,325) S (3.986) $ (1,418) $ 3,587 � 8,851 $ 53,837 $ 2i,771 S 29.944 $ 38,362 $ 47,032 $ 55,962 S 65.151 $ 74,B35 � �-r,s�as � 101,i78 � i'l5,251 $ i29,88T $ 145.tOB S 164,89fi � ?95,673 $ 207,A89 S 23(?ri96 � 'V,7�6,Gi6G ; - S -� - � (i.fi3Q} S (248,692j� (9.179) $ (179,972) (724} $ (410,�4] i254) � (4Q.342) 66�� 5 101.�4� I 1,fi12 � 2�45,937 2,57� � 393,�T� a,oss s s�s,s�� 5.ST8 � 857,280 7.146 S 5,090.590 8,762 "� 1.337,478 � 10,425 $ i,590,9611 12,139 S i,852,4b1 13,464 $ 2,i21,8A5 ifi.326 $ 2,Q94,705 18,Bd8 $ 2,87&,40fi 21,470 $ 3,276,�$4 + 24,196 $ 3,592.571 27,032 $ �.�25,302 30.718 S 4,687.651 �,ses � s.2�r�.s2s aa,s� � �,ssa,73s � 42_920 $ B.54�.85'� 31T,�21 S �,�'�,�7� uvdwaa auisroo 0 �� i��v�� 34 �� 5l�3IO2 Ciiy �f l�art Wort� Wandy dav{s �ity Gouncil Member Chair 1000 Tf�rocicmor�on Street Fort Worth TX �'S1Q2 Fta(ph McCioud City Cauncil Member 10�0 '�hrockmarton Street Fort Worth TX 76�02 Je#f Wentwc�rth Clty Counci� Member T OOp Thrackmortan Street Fark War�h, TX 76102 f�ort ��rii� I�d��r�d��f ��F�ac�! � r c Juan �angei �aard of �duca#lon Member i00 N. University Drive �'ort Warth, `fX 76107� J�S �,1�aE�jt �e+�i�r�, Kristin J��9ns Campliance � Quality Officer 1025 Soutl� Jennir�gs Fort Warti�T TX 761 �4-321 � i�rr�� t�ir► �fly Brooks Prec€r�ct Admi�istratnr #1 3212 Mifler Avertue �vrt Worth, YX �6i 19 Jan �d Rabbins Precinct ArimFnistrator #4 67� 3 Telephone Road �ort Worth, TX 76135 ��rrani Raa��r��l W��4er �Is4ri�fi Narrcy Kir�g (�ffice M�nager �aCl Eas# IVorthsfde �rive PO gax 4�D8 Fort Worth, iX 78102-�097 i�r�°a�t �ou�fy�oil�ge �i�i��e� �ill Lac� �xecutive Assistant t� tha Chartcelior t500 Houston Straet Fo�t Wot#h* iX 78104 35 (o) 87�-�809 (f) 9�4-6�37 ( o ) �7'I -�808 ( f ) 534-7437 (o) �71-8807 (� ) 87i-G187 (o) 9�3-5$04 (f) 92�-1655 (o) 927-3842 ( f j 92Q-6908 (a) 531-5604 ( f ) �31-5633 �o) 23�-4400 ( f ) 238-4443 (a) 355-2491 ( f j 87i�51 37 (4� ,�s15-�041 { f } 515-5�sa ��AFF � ADi��NtSYRA'��V� SU��T a�/23102 ` ��,y af �a�r4 1l4��ptg � Ardina Washington Peter Vaky L�nda grown i��'a�r�t �c�u��,+ I�isa McMiflan �/t��ti� ac�ut�sid� 9ev�f�t�m��t �i�ir�i�f i}an Sco#t Presidernt �ort Worth Soutt�, Irsc. 16Q6 Mistletoe Boulevard �ort VIIort�, iexas i�'l�4 Depar#mer�t of �conomtc and Communtty Developrnent Administrative Liaison City af �ort Wort#� ( o� S 71- � 0 0 3 1Q00 ihro�kmarton 5treei ( f) 871 -61 34 Fort Worth, iexas 76102 Assis#ant City A�t�rney Glty of F'ort Warth ( o j 871 -7fiD 1 �t Q00 Thrnckmortan Stra et ( f) 8 7�-� 3 5 9 �ort Warth, Texas 76102 Oeputy Treasurer City of Fart Wor�h (a) 87i-�a30 10df} Throckmortor� St�eet ( i}� T 1- 8 6 47 Fart Warth, TK 78104 Economic Develapment Caordinator Tarrant Caunty (o) 8�4-2643 100 �. Weatherford, Sui#e 404 (f) ��4-� 702 Fart Worth, iX 76102 (o) 923-16�9 ( f ) 92�-16�8 � �HAP`��R � Il��ilf�� /��IV�A� � H�I�DOUT� 3� G �Opp�ndi� I� ��x ��r��r ��w��a� �� L��r�� oa� �ui��i�l� � �pecial �r��erty T�x F'rovisior�s �I�apte� 3� � T�x lr�c��m�nt �i�anci�g �cf � Exhibit `B" ., s��- . F,�,� - � ORDINANCE N0.13259 AN ORDTNANCE DESIGI�TATING A CERTATN AREA AS TAX INCREMENT RE��TVESTNIENT ZONE NUMSER FOURf CITY OF FORT WORTH, TEXAS, ESTABLISHING A BOARD OF DIRECTORS FOR SUCH RETI�V�STMENT ZONE, AND .OTHER MATTERS RELATED THERETO. WHEREAS, the City CounCil. of the City af Fort Worth, Texa� t"Czty"), desires to promote �he development or redevelopment o£ a cer�ain caxa.tiguous geographic area within i�s jux�isdictxon by th� crea�ion of a rea.nvestment zone as authorized by �h� Ta� Incremen� Fananc�ng Act, Chapter 31�, af the Texas Tax Cade, Vernori' s'z'e.xas Codes Axa.no�ated i�he "T�ct" ) ; and WHEREAS, in compJ.iance �nri�h the AGt, the City Ca].led a public hearing ta hea� pub�.ic cornments on the creatian o� �h� proposed rea.nvestment zone and its beneti�s to the City and to �he proper'ty in �he proposed rei,nvestment zone; and - WHEREAS, in comp2iance with �h� Act, nntice of such publ.ic hearing was publis�ied in the Fort W�rth Star-TeZegram� a daily pap�r of general circulation in the City, s�.ch publi�ation date being Novemb�r 17, 1997, a date nat later than s�ven. (7) days �rior to �h� da�e o� the public hearing, and WHEREAS,-im �eomplianc� with th� Act, notzce af such .public hearing, in �equired form and substan�e, was provided in writing no� late� �han si��y (60) day� before the da�e o� said public h�aring �o the governi.ng body ot each taxing unit that le�ries real propert�r taxes in the proposed r�investmen.t zone; and � WHEREI�S, in compliance with the Act, the City �nade a formal presentation, .in required substance and fQrm, to �he go�rerning body of each �nti�y that levies real propex�ty taxes �.n the propos�d areyn�re�tmen� zone; and WHEREAS, in compliance wi�h the Act, a px�el.imina�-y reinvestment zane �inancing plan was prepared an.d a cop�r of the plan was sent �o the gnverning body of each �axing unit tha� levies taxe� on real praper�y in the proposed reinvestment zon�f and i , WHEREAS, in �omp�iance w�th the Act, �he p�blic hearing was con�ened at the time and place mentioned in the published not�ce, to wit, on the 25th day of November, 1997, at 1a:00 a.m., at the Counczl Chamber an �he Ci�y Ha�1 of the Ci�y of Fort Worth, Texas, which hearing was then closed; and WHEREAS, �h� City at such hearing, invited all owne�s of prope��y locat�d wi�hzn the propased xeinvestmen� zone,. r�presenta�ive� af aIl other taxing units, an� any other interested persons and/ox �hair attorneys to appear and co�tend far or against (Z) �he crea�ion o� the �einvestment zone, (2) �h� boun.daries of the prapo�ed reinjrastmen� zane as described in the boundary des�ription and depic�ed a.n �he map, bath Qf which toge�hcr are attachad hereta as Ex.hi.bit "A", (3) the concept af tax increment ��nanc�ng, and (4) the appointment of a board af dir�ctors for the proposed reinvestment zaxie; and � WHEREAS, th� propanenis of the reinvestment zone of�ered evidence, bath ora]. and docu�.menta�y, .zn favo� of a11 of the �oregoing ma�t�rs relatin.g to the crea�ion o� the x�ainves�.ment zone, and opponents, if any, of the reznves�ment zone appeared to caxztest matters relating to �he c�eatian of the reinvestmen� zone;. NOW THEREFORE, BE IT ORDA�NED BY THE CZTY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: Section 1: That the facts and recitations con�aa.ned in '�he preamble �o��"tha.s Ordinance are hereby faund and decla��d to be true and �o�r�ct. � Section 2: That the City Council, at�er canducting such heax�ng and having heard such eviden.ce'an.d �estimony, �has made the fo�lowing �indings and determ�nation� based on. the evidence and testimon� presented to i�: (a) Tha� the pub3�a.c h�aring on adop�ion of the reinves�ment zone has been properly ca�led, held, and conducted and that notice o� such hearing has been published as required by law. tb} That all taxing units �.evying r�:a�. prope��y taxes wi�hin �he reinves�tm�n.t zone p�operly received notice of �he City's intention to create ihe reinves�men� zone and of �he pubZ�c hearing as required by the Act. -2- (c) That all ta�ing units le�vying real prop�rty taxes wi�hin the reinves�men� zone timely received a prelimina�y reinvestment zone financing plan trom the City as required b� the Act. (d) That the Ci�y made �orma� presen�ation to all taxing units �evy�ng real property t�xes within the reinvestm�nt za�e as required by the �ct. (e} That creation o� the propased reinvestment zone and improvements made therein will significant�y enhance �h� �alue ot aI� of the �a�abZe r�al property in the reinvestmen� zane and will be of g�n�ra� benefit for the City. (f) That the reinvesimen� zone, as descrzbed in �xh�bit 51A" ,� � meets the cra.ter�a �'ox� �he cxea�ion � of a rea.nvestmerit zone as se� for�h in the Act, including Sect�on 311.�05 th�raof, in �hat: (1) I� is a contiguous geographa.c area located who11X = �nrithin �he corpox-ate limi�s of �he City; and (2} The area is found to s�.bstantially ar��st or impair the s�ound grov,rtih of th� municipali�y and �-eta�d the pxo�vision of housin.g aG�ommodations. (g} Tha-t �`"tYie-� tota]. app�aised val�e of all ta.�cab].e �eal pxoper�y in the reinv��tment zone acCording to the �x►osti recen� appraisal ro11 af �he City� together with �he �ota1 appraised value of �axable areal property in all o�h�r existing reinves�ment zon.es within the Czty, according to �he most �ecent appraisal rol1. of the C�.ty, does not e�ceed �i�teen percer�.� (15%) of the cu��en� total appraised va7.ue o� taxaY�le real property in the City and in the industria� districts c�eat�d hy the City, if any. (h} Tha� �he reinvestment zone does no� contain more than fi�teen percent (150} of �he total appraised value ot real pxape��y taxable by Tarxan� Ca�.nty or any school district. _3.. (i) That the development �n the reinvestment private inves�men� fut�re. or redeveZopment af �he prvpexty zone wil� not occur solely thxough in �h� reasonab�y �oreseeable Section 3: Tha� �he C��y hereby Creates a re�nv�stment zone containzng the�area described in the bounda�y description and as dep�cted in �he map, both of which a�e �ogeth�r attached h�r��a as E�hibi� "A", �nd such �einvestment zone shall herea��er be ident�fied as Tax �ncremen� Reinvestmen� Zone Number Four, City of Fort Worth, Texas (�he "Zane" o� "Reinvestmen� Zone"). Sec�ian 4: That �here is hereby established di�ectors for the Zone, which shall be appointed in with the 5ection 311.009 of the Act and pursuant �o wi�h th� othex taxing �xriits . a baard of accordance agreemen.ts 0 Section 5: That �h� Z�ne shaZZ �ake effect on January 1, 1998, and that the termina�ion o� the Zone shaZ1. occur Qn l7ecamber 31� 2022, or a� an earlie� time designated by subsequent ordinanGe af �h� Ci�y Council in the event the City determa.nes �ha� the Zone should be tex�mina�ed due to insufficient p�ivate inv�estmen�, acceZerated pr3vate in�crestment or other good eause, or at such time as all projec� costs and Tax Inc�ement abl.zga�ions, if any, and the in�erest �hereon, have been paid i�n full . Section 6�:- That the Tax �ncremen� Sase for the Zone, which. is the to'tal appraised va].ue of alI �axable rea� praperty lacated in the Zone, is �o be determined as af January l, �.997, the year in which the Zon.e was designated a reinves�ment zone. Sec�ion 7: That the�e is hereby crea�ed an.d established a Tax zncrement F�nd �ox� the Zone which may be divided in�o such accounts and sub-aacounts as may be authorized by s�.bsequ�nt resolutian or ordinan.ce, in�o which a11. Tax Zncrements, Z�ss any of �he amounts nat required �o be pai.d into the Ta�c Incr�men� Fund pursuant to the Act, are �o be deposited. The Tax Zncrement Fund and any accounts and sub-accounts are �o be maintained in an account at �he depasztory bank of the City and shall be sec�.red in the manner presG�ibed by 1aw for Texas cities. Yn addition, all revenues �rom the sale of any obliga�ions hereafter issued by the City secu��d in whole or in part f�om the Tax Increments, rcvenues from the saZe of an�,r property acquired as part of the 'I'ax Incremen.t Financing �lan, and other revenues to be dedicated -4- �a and used in �he Zone shal� be deposi�ed inta such fund, accaunt or sub-acco�nt from which money wi11 be disburs�d to pay proj ec� cos�s for the Zone ar to satisfy the clai�ns �or holders of such obliga�ions issued for the Zone. Sec�ion 8: That �he Zane is designated �.r�.der �ection 3�1.005 (a)(1) o� �he Ac�. Section 9: That the City Manager and Cit�r Atto�ney are hereby au�ho�a.2ed to execu�e and d�l�ver far and on behalf of the City, tax increment agreemen�s wi�h the Fort Worth Independent Schoo� District, Tarrant Co�nty, Tarrant Coun�y Hospita� Distri,ct, Tarrant Coun�y Junior CoXlege and Tarrant Regional Watex Dist�ict, pursuan� to the provisions, of Section.s 31�..008 and 31�..013 of the Act. Section 10: That if any section� paragx�aph, clause or pxovision o� �his OrdinanGe shall �or any reason be held �o be invalid or unenfarceable, �he �nvalidity or unenforceability of s�.ch section� paragraph, cZause or provision sha11 not aff�ct any of the remainin,g provision� o� this Ordinance. Section 11: That this Ordinance sha11 take effect �mrneda.ate�.y trom and af�er its passage in accordaz�.ce wiih �he prava.sions o� the Charter of the City of Fart Worth and it is accordingly so ordained. CTTY OF F'ORT WORTH Ci�.. L.1� V..�-, � Kenne�h Barr Mayor � ATTEST: . ��x.�r� .C.l.t�.��- Alice Chu.rCh City Secreta�y -5- APPROVED AS TO FORM AND LEGALITY: , � ��. . � Assistan� City A� rney ADQ�TED : II ! � �I � � EFFEGTTVE : II �ot� I � � � :'s�4.,�'�� vund�ry ��s��fpf��n For� �V'orfh �outh ��inve�fim�n� �one Being a tract of lanc[ in the City of Fa�t Wortt�, Tarrant County, Taxas, which iract is more particularly described as follows: Beginning at the southwest carner of �ot 25, Block 20, Fair,maunt Addition, being in the easterly �iRe of an all�y and in the northerly line of Wes# Arlin�ton Avet�ue; Thence westeriy aiang the noriherEy �ir�e of said West Arlington Street to the easterly line of the Fart Worth & Western Railroad main track right-of-way; Tt�ence with said Raifroad to it's intersection with the south Ein� of F'ark Place; Thence with fhe south line of Park Place to it's intersection with the west line of Berkley Street; Thence with the west line of Berkley 5treet northerly ta ihe sauth line af Edwin Avenue; Thence easterly crossing 8erk4ey 5treet and afong the north line af Blocks 7 of Edwin A�enue crossing the afore mentioned Fort Worth & Western Raifroad to the east line oi said Railroad; Thence nnrkherly along the eask Ifne of said rai�road to Ets intersection wiih the nort� Efne af All Saints Episcopal Hospital Biock 2; Thence easterly with the north Ifne of said B}oak 2 to its intersection witY� the western lir�e of Fort Worth & Western Railroad righi-of-way; Thence noriherly afong the west line of said railroad to the southerly line of Mistletoe Bo�[levard; The�ce wester[y along fhe south line of said Mistletos Balile�ard to the easterly line of ihe Fort Worfh & W�stern Railraad right-of-way. TheRce northeriy along the easi �ine of said Railroad io the southeriy line of West Rose�a�e Street; Thence wester[y along the south fine �f said West Rasedale Street to tf�� asterfy fine of Fbrest Park Boulevard; Thence northerly alang the sast li�e of said Forest Park Bo�Ievard to the sout�erly line of line af the Unian Paoific Railroad; Thence nartY��asterly alo�g the southerly line of said Union Pacific Railraad to t�te narth line of West Vickery 8oulevard; Tt�ence easterly a{ong the norkh line af said Wesi Vick�ry Baul�vard to the southerly right-of-way� fine of new Interstate Highway 30; 'Ch�nce easterly aiong the southerfy right-of-way fine of said new U.S. Highway 30, crossing fntersta#e Nighway 35W to th� �ast line of Kentucky Street; Thence southerly along the east line of said Kentucky Strest to ii's intersection wi�h the south Iine nf Terr�ll Street; Thence westerfy with the southerly line af said Terre�l 5treet to the northeasi camer oi Lat �, Black 2 McNuliy and Nesbi# 5ubdivision; Thence southerfy along the easterfy line af said Lot 1 a�d Lot 3� of said McNuiry and I�esbit Adcfition to the northerly line af H�mbolt Str�et; Thence easterly along tha r�ortheriy line of said H�mboli Street to a point on the northerly exiension af tt�e last line of [ots �2 and 32A, Block 2 of said McNulty and Nesbit Addition; Thence southerly crossing sa9d Humbolt Stree4 and along the east line of said lots 32 and 32A a�d continuing on said line to the sou#heast carner of Lot 4, Craves and McDaniel Subdivisior� and beFr�g in ti�e r�orth line of Maddax Avenue, (this [ine to run generally afong the east [ine of the fi�sf tier of �ots on tF�e east side of Evans A�e�ue from Humboit to Macldox); Thence westerly along #he northerly �ine of said Maddox to a point on the nortt�erly sxtehsion of l.ot 55�, Block 22, Hyde Park Addition; 7hence southerly cros�sing said Maddox Street along the easterly line oY lots 553 at�d 580 of said Hyde Park Addifion to the saufherly line of said East Allen Avenue; Thence.westerly alang the southe�ly line of said East Allen Avenue to a point an f�e so�therly extension af the we�terly iine of South Main Street; The nortnerfy crossing said East A�I�R Street and alang the westerly line of said Sou;th Main Streef to the southerly Iine of Fefiks Gwnzdz Piace; Thence westerly aiong the�southerly line of said Feliks Gwozdz Piace ta a point on the souther{y extension of the east line of Lot 2, Block D, of the Hendricks Subdivisior� of Fields-Welsh Acldition; Thence nar#herly crossing said �eliks Gwazdz Place and along ths east line af sald Lot 2 to tF�e nartheTEy line of Ingram Stresi; Thence easterly a�ong the north line of said f ngram Street io �he westeriy line of Travis Street; 7hence northerly along itte west line a# sa�d Travis St��et t� the southerly line of West lu{o�hy Street; Thence westerly along the so�th �ine of said West Morphy Street ta the northwest corner of Lot 8, Black D, af said Hendricks Subdivision; 1'hence southerly along thein+est line of said Lot 8 to the north line of an alley which divides said B�ock D, �lendricks 5ubdi�ision; Thence westerly a�ong the norEF� line of said alley to the east line o# Lipscomb 5treet; Thence sa�therly along ihe east iine pf said Lipscomb 5treet to a�oint an an easterly extensian af f�e south fine of Lot 12, B[ock C of Armsirang Subdivision of �ields-Welsh Addition; Thence wester{y along said line and alang the south line of Lot � 2 and Lot �4 of Block C, said Arrnsfrong Subd�vision to the easterly line of Alston Street; Thence sou#heriy along the east line of s�id Alston Street ta the sout�►erly line bf Maddox Street; Thence westerly along the south�rly line of Maddox 5treet to the wester�y iine of Coflege Street; Thence northerly along the west I�ne of said College Street #o tF�e norti�erly line of West Marphy Street; Thence easterfy aEong #he north fine of said West Morphy Street to tMe westerly fine of said Lipscomb S#reet; Thence northerly along the westerly line of said Lipscomb Street to the northeast corner of Lot 3B, Bldck A, of Martin & Moodie Subdi+risior� of Fi�lds-Welsh Additian; 2 � � � I Thence westeriy to the northwest corner of sai� Lot 3B; , Thence southerly to the southwest corner of Lot 3B; The�ce westerly along the southerly line of Lot 3A of said Block A, extending #o the west�rly line of said Akston Street; Thence nor�herly along the westerly line of said Alston Sireet to the northeast corner of Lot 4, Block 1, Brooks and 8ailey 5ubrli�ision�; Thence westerly along the northerly line ofi said Lot 4 extending to the west line of an all�y; Thence southerly a�ong the west line of said ailey ta the northeriy line of an intersecting alley; Thence westerly along the northerly line of said all�y to the westerly line of said College Street; Thence northerfy along the westerly line of said College Stre�t ta the nartheas# comer of Lot 3, Block 2, of said Brooks and Bailey Subdivision; T�ence westerly a�ong the northerly line af said Lat 3, Block 2 exter�ding to the westerly line of an alley; Thence southerly along sald westerly �ine to the northariy line af an �ntersecting alley; _ Thence uvesterly ala�g said northerly line to fhe westerly iine of Washi�gton Street; Thence northerly along said westeriy line to tha northeast corner of Lot 1 E of D.S. Ross 5�abdi�ision; Thence westerfy alang the norEherly line of said Lot 1 E extending to the westerly line of an alley; Thence southerly alang said westerly line to the southeast corner af Lvt 1A, said D.S. Ross Svbdi�isian; Thence westerly alang the southerly line of said Lot 1A extending to the westerly line of Adams Street; Thence northerly afang said wesferly line to the nor�heast corner of C.ot 8D, said D.S. Ross Additian; Thence westerEy to the northwes� corner of said Lot SD; Thence southerly along the westerly line of said Lat 8D ta the nartheast corner of Lot�8C, said d.S. Ross Addition; Thence westerly along the nnr�herly 19ne of said Loi SC extending to the w�sterly line of Henderson 5treet; Thence southeriy along said westerly line to the southeast corner af Lot 4R, Black A, King's 5�bdivision of Fields- Welsh Addition; Ther�ce westerly along the southerly line n# Lots 4R and 13R, Block A extending to the westerfy line of Fifth Arrenue; Thence nortF�erly along said westerly line to the northeast carner of Lot 9�, Slocic B af sa�d King's Subdivision; Thence westerly along the nartherly line af said Lat 4 and �ot 13 extending ko the westerly fine of Lake Street; Thence sout�erly along said westerly lir�e to the norkheast corner of Lot 5, B�ocic 1, Jo�nson Subdivision of Fiefds- Welsh Addition; Thence westerly along the northerly �ine of said Lot 5 to the northeast corner of Lot 28 said Block 1; 3 , .. . , Thence sautherfy to the sout�east corner of sai� Lot 28; Thence w�sterly along the southerly line of said lot 28 exte�di�g to the westerEy line of Sixth Avenue; Th�nc� narther3y along said wes#erly line to the northeast comer of Lot 5, 8lacfc 2, of said ,�ohnson Subdivision; Thence westerly along the nor#F� line of said Lot 5 to tt�e southeast corner of Lot 29, said Block 2; Thence northerly to the northeast corner of Lat 30, said 81dck 2; TMence westerly alor�g the northerly line of said Lot 3� extending to the wester�y line af Fairmaunt Street; 7hence northerly aEong the west line of said Fairmount Street to tF�e southerly line of Magnofia 5treet; Thence westerly alo�g said southe�ly line to the westeriy li�e of an alley which ciEvides Block C of McNulty and Nye Subdi�ision; Thence southerly along the westerly line af said alley to the southeast comer of Lot 4, Black C of sai� McNulty anci Nye Subdivision; Thence westerly along the south�rly line of said Lot � extending to the westerfy line of Seventi� A�enue; Thence sout�erly afong said westerly line to the southeast corner of �ot 27, Block B af said McNulty and Nye Subdivision; Thence westerly along the southerly �ine of said Lot 27 extending ta the wester{y line of an all�y; Thence nort�erly aiong said westerly line to the so�t�erly line of safd Magnofia 5treet; Thence wester�y alo�g said southerly line to the easterly line of hlurley Street; Thence southerly alang said easferly line to the southerly line af said West Morphy Street; Thence westerly along said southerfy line to the nar#heast comer of Lot F7, Bfock F, of said McNulty and Nye Subdi�ision; Thence sautherly along the eas#erly lin� of said Lvt F7 and F3 and F2 and F4 and extending ta the sout�erly [ine o# Myrile Street; Th�nc� �asterly to the easterly line of an alley whicf� divldes Block 9 of Loyd's Additipn and BEock 1 of Stewart's Addition; . Thence southerly along the easterly Iine af saic! aE[ey to the southeriy line of said West AEEen Avenue; Thence easterly along said southerly li�e to the nartheast cotner of Lot 32, Block 10, Fairmaur�k Addikion; 7hence sa�ath�rly to ihe soutf�east corn�r of Lot 23, said Block 10; Thence westerly along the southerly line of said Lot 23 to t�e easterly line of an alley; 7hence souther(y along the easterly [ine of said a[ley to the soutY�west corner of Lot 25, Bl4ck 20, Fairmaunt Addition and TH� POINT {�F BEGINNING. SAVE & EXC�PTTH� FOL.LOWING TRACTS OF LAND: 4 Lot 3B, Block N, Rosedale Addition (Newkirk Wallerich 6uilding); Lots 5, 6, 7, and 7 feet af Lot 4 Block I, Rasedaie Addition {Fresnel); Lats 1, 2, 3, 4A, �B, 6A, & 8B, Block 34, Tucker's Addition (�ire Station); Lots 1, 2, 3, 5, 6, 7, & 8, Biock �and 7Q4, Smith, .�anes & Daggett Addition (Recreation B�ilding}; Lots A1 B and A2, Block 2, Fielci's-Welch Addition (Parker Commonsj; Lots 1 A, 1 B,1 C, 1 D, 2, and 3, Black 3, Martin and Moodie Subdivision o� Field's-Welch Addition (Modern Drug); Lats 7R and 8R, Blocic 3, McLellan 5ubdivision of Field's-Welch Addition (Mehl Building); and those tracts of fanc� being mo�e particufariy described as follows: Beginning at the intersection of tne northerly lir�e of Terrell.Str�at with the easterly line of Seventh Street; Thence northeriy along ih� easterly line of said Sa�enty Street ta the northwest comer of Lot 1, Blocic 2, Grandview Addition; 7hence easierly along the r�ortherly line of �ots � through S, said Slock 2 and extending to the easterly line of West Sixth Avenue; ihence northerly along the easteriy fine pf said Sixth Avenue to the sauther[y lin.e of Pe�nsylva�ia A�enue; 7hence easterly along the sautherly fine of said Pennsyivan9a A�enue to the westerly �ine of said Henderson Stree�; Thence along the westerly line of said Henderson Street to the �ortherly line of said Terre�l Street; Thence westerly along the nartherly line of said Terrafl Dri�e to TH� POfNT O� BEGINNING (Coak's Children's and Harris Methodist Hospitals) ; and Beginning at the intersection af the northerly line of Petersmith Street with the easterly line of .lennings A�en�e; 7hence nartherly along the easterly Eine of saicf .iennings Avenue to the sautherly line of Broadway Strest; Tnence easterly along the southerly iine af said 8roadway Streei t� the wes#erly line of Gal�eston Street; Thence souiherly along th� western line af Ga�veston ta the northerly [ine of Pet�rsmith Street; Thence westeriy alang the norther[y !me of sa�d Petersmith Street to THE PQINT OF BEGINNING (Braadway Baptist Church and Te'mpi� Beth EI). No�ember 24, 1997 � �'ity of'�'o�t Wo�th9 T'exas A:��1� 1�� L�� `��+��i� DATE REFERENCE NUMBER I..OG NAME PAGE 101151D2 �`*�d19�90 I 17TAX I 1 of 1 sus��cT AUTHORIZE EXECUTION OF INTERI.00AL AGREEMENTS WITH TARRANT COUNTY, TARRANT C4UNTY HOSPITAL DISTRICT, TARRANT C4U�1TY COLLEGE DISTRiCT, AND TARRANT REGIONAL WATER DISTRICT REGARD[NG TAX INCREMENT CONTRIBUTIONS TO TAX INCREMENT REINVESTMENT ZONE NLIMBER FOIJR, CITY OF FORT WORTH, TEXAS {SOUTHSIDE TIF) � RECQMMENDATION: ft is recommended that the City Council authorize the City Manager to execute the attached Interlocal Agreements with Tarrant County, Tarrant County Hospita{ ❑istrict, Tarrant County Calfege District, and Tarrant Regional Water District defining the terms and conditians un�er which #hose entities will contri�ute ihe . tax increment produced by property locafed in Tax Incremenf Re�nuestment Zone Number Faur, City of Fort Wvrth, Texas (the Southside TIFy to fihe Southside TIF fund. DISCUSSION; On November 25, 1997 {M&C G-12075), the City Council auihorized Tax �ncrement Reinves�ment Zone Number Four, Cify af Fort Wort� Texas (the Southside TIF), which includ�s fhe area generally described as the Fort Worth Southside De�elopment Di�trici. State law provides for taxing entities other ihan �he City to elect to pa�ticipate in tax increment reinvestment zones, or TiFs, by contributing tax increment to a fund es�a6lish�d for #he TIF. On Augusf 31, 1999 (M&C G-12649), the City Couneil ado�ted the project plan and the financing plan for the Southside TIF and authoriz�d a participatian agreement with the Fort Worth Independeni School District. Recently, the gaverning badies of Tarrant County, Tarrant County Hospital Disirict, Tarrant County Caliege District, and Tarrant Regi�nal Water District, approved the attached lnterlocal Agre�ments committing tax increment contributions to the Southside TIF fund. . Appra�al of this Mayor and Council Communicatior� wiil allaw fiinal executian of these agreemen#s. FISCAL lNFORMATIONICERTIFICATION: The Finance Director certifies that this actior� wifl ha�e no material effect an City funds. _G�� Submitted for City Manager's Qf�ce by: Reid Rector Uriginating Department Head: Tom Higgins AddiEional Information Cnntact: FUI�'D � ACCOiJNT I ��) C�NT�R I AMOUN'T CITY SECRETARY 6140 6192 (from) I APPROV�D 10/15/02 � � I