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Home My WebLink AboutIR 7400 { INFORMAL. REPORT TO CITY COUNCIL. MEMBERS No. 7400 h0 caRr�c To the Mayor and Members of the Cite Council August 16, 1989 Subjd: UAquala aeaL of Advisory Boars- of Fort Worth Improvement District No. 1 On August 15, 1989, the City Council will consider the adoption of M&C G-8165 and a resolution which establishes an advisory board for the Fort Worth Improvement District No. 1. The Board has the responsibility of developing and recommending a service, assessment and improvement plan to the City Council. The Board would consist of 26 members who must be appointed by the City Council. Section 372.008 of the Local Government Code contains the following provision con- cerning composition of an advisory board: "The composition of the advisory body must include: (1) owners of taxable real property representing more than 50 percent of the appraised value of taxable real property liable for assessment under the proposal, as determined by the current roll of the appraisal district in which the property is located; and (2) record owners of real property liable for assessment under the proposal who: (A) constitute more than 50 percent of all record owners of property that is liable for assessment under the proposal; or (B) own taxable real property that constitutes more than 50 percent of the area of all taxable real property that is liable for assessment under the proposal." Attached as Exhibit "A" is a list of 22 property owners who have been recommended by Downtown Fort Worth, Inc. , for membership on the Board. These_ persons are members of Downtown Fort Worth, Inc., and represent the ownership of 80 percent of the total taxable property value and 69 percent of the total taxable land area within the proposed district. Appointment of a board consisting only of these 22 persons would meet the minimum requirements of Section 372.008. however, to give a broader representation on the Board, it is suggested that two additional members who are tenants within the district should also be appointed. Attached as Exhibit "B" are the names of two tenants from the district. Because the City is a property owner within the district, it is also suggested that two members of the City Manager's staff be appointed to the Board to represent the interests of the City. It would be legal f or the Council to appoint a Board consisting of more than 50 percent of the owners of record of property in the proposed district. However , this would not be practical because it would result in more than 100 members. For this reason, it is more practical for the board to consist only of members owning more than 50 percent of the taxable land value and area in the proposed district. ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS -- INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 7400 p.2 10#7 To the Mayor and Members Of the City Council - August 15, 1989 y + _ ;?Exr`� Subject: Reappointment of Advisory Board of Fort Worth Improvement District No. 1 In summary, it is recommended that the council appoint the following members to the Board: 1. the 22 members of Downtown Fort Worth, Inc., listed in Exhibit "A"; 2. the two tenants listed in Exhibit "B"; and 3. Ruth Ann McKinney and Ann L. Diveley of the City Manager's staff. These appointments should be made on August 15, 1989. Do not hesitate to contact me if you desire further information. e- og�as Harman City Manager �r. DH:WA:i Attachments ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS -- LIST OF PRESENT FORT WORTH IMPROVEMENT DISTRICT { ADVISORY BOARD MEMBERS Name/Address Value Land Area/Sq. Ft. Luther P. Adkins $ 61160,962.00 65, 000. 00 Senior Vice President The Fort Worth Star-Telegram 400 West 7th Street Fort Worth, Texas 76102 Joseph D. Ambrose, III 2,341 ,947. 00 29, 766. 50 Ambrose Properties 909 Throckmorton Fort Worth, Texas 76102 Nelson Baines 10,359,756.00 132,000.00 General Manager Hilton Hotel 1701 Commerce Street Fort Worth, Texas 76102 Edward P. Bass 1 ,607, 167. 00 26,235.00 President Fine Line, Inc. oph, 201 Main Street, Suite 3100 Fort Worth, Texas 76102 Robert M. Bass 26,477,617. 00 133,700.00 Robert M. Bass Group, Inc. Bass Brothers Enterprises Bass Brothers Development Company 201 Main Street, suite 2700 Fort Worth, Texas 76102 William H. Blair 21377,222. 00 17,000.00 Attorney McLean, Sanders, Price, Head & Ellis 100 Main Street Fort Worth, Texas 76102 R. H. (Bob) Browder 3,225,261 . 00 379, 196.00 Fort Worth Regional Manager TU Electric Company P. O. Box 970 Fort Worth, Texas 76101 Walt J. Humann 95,539,550. 00 160,000. 00 Woodbine Development Company Hunt Investments Continental Plaza 3200 NCNB One Building Dallas, Texas 75202 EXHIBIT "A" Gary Cumbie 1 ,705,387.00 27,300-00 Vice President Lone Star Gas Company Ensearch 903 Monroe Fort Worth, Texas 76102 Joye Evetts (see R. H. Browder ) Executive Assistant TU Electric Company P. 0. Box 970 Fort Worth, Texas 76101 Robert G. Adams, A.I.A. 51 ,739,448.00 276,964.00 Vice President Texas American Bancshares 550 Bailey, Suite 330 Fort Worth, Texas 76113 Richard Lathem 103,896,689. 00 97, 400.00 Property Manager (Cadillac Fairview) Prentiss Properties Limited, Inc. Burnett Plaza Assoc. 801 Cherry Street, Suite 2355 Fort Worth, Texas 76102 Ruth Ann McKinney Assistant City Manager City of Fort Worth 1000 Throckmorton Fort Worth, Texas 76102 Ann L. Diveley City of Fort Worth 1000 Throckmorton Fort Worth, Texas 76102 Richard McMullin 760,402.00 20, 000.00 Texas Beverages, Inc. The Keg/Jones Street Enterprises 4919 Sagebrush Court Arlington, Texas 76017 James R. Nichols 1 ,700,000.00 23,000.00 President Freese & Nichols, Inc. 811 Lamar St. JV 411 Company Ltd. 811 Lamar Street Fort Worth, Texas 76102 EXHIBIT "A" J. Clark Nowlin 8,959, 047. 00 98,922. 00 President Clark Nowlin Company 210 West 6th, Suite 1410 Fort Worth, Texas 76102 B. A. Perkins 202,500.00 3,500.00 Owner Barber 's Book Store 215 West 8th Street Fort Worth, Texas 76102 Jack Rattikin, Jr. 909,000. 00 15,000.00 President Rattikin Title Company 611 Throckmorton Fort Worth, Texas 76102 Bill D. Serrault 20,982,829.00 99, 193. 50 Division Manager Souithwestern Bell Telephone Co. 1116 Houston Street, Room 1500 Fort Worth, Texas 76102 Frank C. Wilson 27,526, 327. 00 285, 952.00 Executive Vice President O,, NCNB Texas (formerly First National Bank, Fort Worth) One NCNB Plaza Fort Worth, Texas 76102 Herschel C. Winn 79,007,774.00 431 ,998.00 Vice Presdident & Secretary Tandy Corporation 1800 One Tandy Center Fort Worth, Texas 76102 Warren G. Woodward 150,492,364.00 533,960.00 Vice President Sid R. Bass, Inc. Sundance Square, Inc. City Center Development Co. Perry R. Bass 201 Main Street, Suite 300 Fort Worth, Texas 76102 Roger L. Yandell 855,000.00 14,200.00 President Yandell & Hiller, Inc. 301 Commerce Street, Suite 210 Fort Worth, Texas 76102 $599,026,269.00 2,890, 287. 00 EXHIBIT "A" Grand Total Taxable Value $741 ,357,285.00 in District Total Value Represented by $599,026, 269. 00 Above 26 Members of Fort Worth Improvement District No. 1 Advisory Board (FWID#1 A. B. ) Thus, the above 26 members of the FWID#1 A. B. own or represent 80% of the Total Taxable Value in the District. Grand Total Taxable Land Area 4, 185,864.81 Grand Total Taxable Land Area 2,890,287. 00 Represented by above 26 Members of Fort Worth Improvement District No. 1 Advisory Board (Sq. Ft. ) Thus, the above 26 members of the FWID#1 A. B. own or represent 69% of the Taxable Land Area in the District. EXHIBIT "A" J. R. Molina Attorney at Law One Tandy Center ,, Suite 954 Fort Worth, Texas 76102 Lloyd J. Weaver Senior Accountant Weaver & Tidwell 307 West 7th Street Fort Worth, Texas 76102 EXHIBIT "B"