HomeMy WebLinkAboutIR 9523 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 9523
To the Mayor and Members of the City Council November 6, 2012
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SUBJECT: BELL HELICOPTER TEXTRON, INC. EXPANSION, FUNDING
rF IMPROVEMENTS TO NORWOOD DRIVE
On December 13, 2011, City Council approved the execution of a one-year tax abatement and a
nineteen-year Chapter 380 development program agreement with Bell Helicopter Textron, Inc. for
the expansion and consolidation of the main headquarters operations and associated facilities
over four phases (M&C C-25367). The agreements were amended on September 11, 2012 to
adjust the new business personal property purchase schedule in each phase (M&C C-25823).
As presented to the City Council, the expansion and consolidation by Bell at its headquarters site
require the improvement and reconstruction of Norwood Drive between Trinity Blvd. and State
Hwy. 10. Staff has recommended to the City Council that the City participate in the
reconstruction of the road through an Enhanced Community Facilities Agreement. The original
staff recommendation was to participate in the projected $2.5 million road reconstruction by
providing $1.0 million in Enhanced CFA funds. Since this recommendation, the Transportation &
Public Works and Planning & Development departments have identified $770,000 in
transportation impact fee funds that are available for which this project qualifies. Consequently,
staff recommends increasing the total City participation to $1,770,000. All remaining
expenditures for the improvements to Norwood Drive will be the responsibility of Bell Helicopter.
Staff will bring forward an M&C to Council on December 4, 2012, authorizing the ECFA
agreement and Impact Fee credits for the infrastructure improvements.
Tom Higgins
City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS