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HomeMy WebLinkAboutOrdinance 15499,_ ORDINANCE NO. AN ORDINANCE DESIGNATING A CERTAIN ARIJA IN TIC CITY OF FORT WORTH AS "TAX ABATEMENT REINVESTMENT ZONE NUMBER FORTY-THREE, .CITY OF FORT WORTH, TEXAS"; PROVIDING THE EFFECTIVE AND EXPIRATION DATES FOR THE ZONE AND A MECHANISM FOR RENEWAL OF THE ZONE; ,AND CONTAINING OTHER MATTERS RELATED TO THE ZONE. WHEREAS, pursuant to the City Council's adoption on February 26, 2002 of Resolution No. 2811 (M&C G-13540), the City of Fort Worth, Texas (the "City").has elected to be eligible to participate in tax abatement and has established guidelines and criteria governing tax abatement agreements entered into between the City and various third parties, as authorized by and in accordance with the Property Redevelopment and Tax Abatement Act, codified in Chapter 312 of the Texas Tax Code (the "Code"); and WHEREAS, the City Council desires to promote the development of the area in the City more specifically described in Exhibit "A" of this Ordinance (the "Zone") through the creation of a reinvestment zone for purposes of granting commercial- industrial tax abatement, as authorized by and in accordance with Chapter 312 of the Code; and WHEREAS, F.L. Motheral Co., Inc., a Texas corporation doing business as Motheral Printing Company ("Company") owns real property in the Zone and has applied for tax abatement from the City in return for the construction of certain improvements on that property ("Improvements") and certain other commitments that will foster economic development in the Zone and the City in general; and Page 1 Ordinance Designating Tax Abatement Reinvestment Zone Number Forty-Three, City of Fort Worth, Texas WHEREAS, on March 18, 2003 the City Council held a public hearing regarding the creation of the Zone, received information concerning the Improvements proposed for the Zone and afforded a reasonable opportunity for all interested persons to speak and present evidence for or against the creation of the Zone ("Public Hearing"), as required by Section 312.201(d) of the Code; and WHEREAS, notice of the Public Hearing was published in a newspaper of general circulation in the City on March 10, 2003, which satisfies the requirement of Section 312.201(d)(1) of the Code that publication of the notice occur not later than the seventh day before the date of the public hearing; and WHEREAS, in accordance with Sections 312.201(d)(2) and (e), notice of the Public Hearing was delivered in writing not later than the seventh day before the date of the public hearing to the presiding officer of the governing body of each taxing unit that includes in its boundaries real property that is to be included in the proposed Zone; NOW, THEREFORE, BE IT ORDAINED BY 'THE CI'T'Y COi.TNCIL OF THE CITY OF FORT WORTH, TEXAS: Section 1. FINDINGS. That after reviewing all information before it regarding the establishment of the Zone and after conducting the Public Hearing and affording a reasonable opportunity for all interested persons to speak and present evidence for or against the creation of the Zone, the City Council hereby makes the following findings of fact: Page 2 Ordinance Designating Tax Abatement Reinvestment Zone Number Forty-Three, City of Fort Worth, Texas 1.1. The statements and facts set forth in the recitals of this Ordinance are true and correct. Therefore, the City has met the notice and procedural requirements established by the Code for creation of a reinvestment zone under Chapter 312 of the Code. 1.2. As a result of designation as a reinvestment zone, the area within the Zone is reasonably likely to contribute to the expansion of primary employment and to attract major investment in the Zone that will be a benefit to property in the Zone and will contribute to the economic development of the City. 1.3. The Improvements proposed for the Zone, as outlined in the Public Hearing and which will be made pursuant to a tax abatement agreement with Company that must subsequently be approved by the City Council, are feasible and practical and, once completed, will benefit the land included in the Zone as well as the City for a period in excess of ten (10) years, which is the statutory maximum term of any tax abatement agreement entered into under the Chapter 312 of the Code. Section 2. DESIGNATION OF ZONE. That the City Council hereby designates the Zone described in the boundary n description attached hereto as Exhibit "A" and made a part of this Ordinance for all purposes as a reinvestment zone for purposes of granting commercial-industrial tax abatement, as authorized by and in accordance with Chapter 312 of the Code. This Zone shall be known as "Tax Abatement Reinvestment Zone Number Forty-three, City of Fort Page 3 Ordinance Designating Tax Abatement Reinvestment Zone Number Forty-Three, City of Fort Worth, Texas Worth, Texas." The area within the .Zone is eligible for commercial-industrial tax abatement pursuant to Resolution No. 2811. Section 3. TERM OF Z®NE. That the Zone shall take effect upon the effective date of this Ordinance and expire five (5) years thereafter. The Zone maybe renewed by the City Council for one or more subsequent terms of five (5) years or less. Section 4. SEVERADILITY. That if any portion, section or part of a section of this Ordinance is subsequently declared invalid, inoperative or void for any reason by a court of competent jurisdiction, the remaining portions, sections or parts of sections of this Ordinance shall be and remain in full force and effect and shall not in any way be impaired or affected by such decision, opinion or judgment. Section 5. That this Ordinance shall take effect upon its adoption. AND IT IS SO ®RDAINED. ADOPTED AND EFFECTIVE: ~ ~ S © 3 Page 4 Ordinance Designating Tax Abatement Reinvestment Zone Number Forty-Three, City of Fort Worth, Texas APPROVED AS TO FORM AND LEGALITY: By: Peter Vaky Assistant City Attorney ~I a5 0 3 Date: M&c: ~-~ - ~ 3"11 ~' Page 5 Ordinance Designating Tax Abatement Reinvestment Zone Number Forty-Three, City of Fort Worth, Texas EXHIBIT' "A" BOUNDARY DESCRIPTION OF ZONE DESCRIPTION, of a 10.912 acre tract of land situated in the James J. Goodman, Survey Abstract No. 583, County of Tarrant, State of Texas, said tract being comprrised of all of Lot SB, Block 304B, of Area 3, Section 2, Centreport, an addition to the City of Fort Worth, Texas, according to the plat recorded in Volume 388-202, Page 28 of the Plat Records of Tarrant County, Texas and a portion of Block 304B, Area 3, Section 3 Centreport, an addition to the City of Fort Worth, Texas, according to the plat recorded in Volume 388-176, Page 80 of the Plat Records of Tarrant County, Texas; said 10.912 acre tract being more particularly described as follows: BEGI]VNING, at a 1/2-inch iron rod found in the west right-of--way line of Empire Road (a 60 foot wide right-of--way); said point being the northeast corner of said Lot SB, Block 304B; said point also being the southeast corner of Lot SA, Block 304B of said Area 3, Section 2, Centreport; THENCE, South 00 degrees, 32 minutes, 25 seconds West, along the said west right- of- way line of Empire Road, passing a distance of 478.54 feet to 5/8-inch iron rod found for the southeast corner of said Lot SB, Block 304B, continuing along the said west right-of- way line of Empire Road, in all a distance of 1007.33 feet to a 1/2-inch iron rod with "Pacheco Koch" cap set at the beginning of a tangent curve to the left whose center bears South 89 degrees, 27 minutes, 35 seconds East, a distance of 630.00. feet from said point; THENCE, southeasterly continuing along.the said west right-of--way line of Empire Road and along the said tangent curve to the left, through a central angle of 12 degrees, 12 minutes, 28 seconds, an arc distance of 134.23 feet, on chord bearing and distance of South OS degrees, 33 minutes, 50 seconds East, 133.98 feet to a 1/2-inch iron rod with "Pacheco Koch" cap set for corner; said point being the northeast corner of Lot 2, Block 304B, Area 3, Section 3, Centreport, an addition to the City of Fort Worth, Texas according to the plat recorded in Cabinet A, Slide 1126 of the Plat Records of Tarrant County, Texas, from which 1/2-inch iron rod with "Graham Assoc." cap found bears South 14 degrees, 47 minutes East, a distance of 1.4 feet; THENCE, North 89 degrees, 27 minutes, 35 seconds West, departing the said west right- of-way line of Empire road and along the north line of said Lot 2, Block 304B, a distance of 80.24 feet to a 5/8-inch iron rod with "Carter & Burgess" cap found for corner; said point being the southeast corner of Lot 2, Block 304A, Area 3, Section 2 Centreport, an addition to the City of Fort Worth, Texas according to the plat recorded in Volume 388- 183, Page 71 of the Plat Records of Tarrant County, Texas; THENCE, North 00 degrees, 32 minutes, 25 seconds East, departing the said north line of Lot 2, Block 3048 and along a east line of said Lot 2, Block 304A, a distance of 15.34 feet to a 5/8-inch iron rod with "Carter & Burgess" cap found at the beginning of a non- tangent curve to the right whose center bears North 09 degrees, 09 minutes, 00 seconds East, a distance of 463.37 feet; THENCE, northwesterly along the east line of said Lot 2, Block 304A and the said non- tangent curve to the right, through a central angle of 81 degrees, 23 minutes, 25 seconds, an arc distance of 658.23 feet, on chord bearing and distance of North 40 degrees, 09 minutes, 17 seconds West, 604.27 feet to a 1/2-inch iron rod found at the end of said curve; THENCE, North 00 degrees, 32 minutes, 25 seconds East, along east line of said Lot 2, Block 304A, passing a distance of 14.91 feet to 1/2-inch iron rod with "Halff Assoc." cap found for the northeast corner of said Lot 2, Block 304A and southeast corner of Lot 3, Block 304A, Area 3, Section 2, Centreport, an addition to the City of Fort Worth, Texas according to the plat recorded in Volume 388-159, Page 10 of the Plat Records of Tarrant County, Texas, continuing along the east line of said Lot 3, Block 304A, passing at a distance of 188.52 feet a 5/8-inch iron rod found for the southwest corner of said Lot SB, Block 3048, in all a distance of 667.06 feet to a 1/2-inch iron rod with "RPLS # 4224" cap found for the northwest corner of said Lot SB, Block 3048; said point also being the southwest corner of said Lot SA, Block 3048; THENCE, South 89 degrees, 27 minutes, 35 seconds East, departing the said east line of Lot 3, Block 304A, along the common line of said Lot SA and Lot SB, Block 3048, a distance of 460.00 feet to the POINT OF BEGINNING; CONTAINING, 475,333 square feet or 10.912 acres of land, more or less. C`it,~ of Fort Wo~tlz, Texas M'Ayar And ~auncil CammunicAt~on DA' 3/18/03 ~ G-13918 ~ 17CENTRE ~ 1 of 2 I suB~ECT I ZONE NO.43! Cll"Y OFOFORT WORTDH TEXASNG TAX ABATEMENT REINVESTMENT RECOMMENDATION: It is recommended that the City Council: 1. Hold a public hearing concerning the designation of Tax Abatement Reinvestment Zone No. 43, City of Fort Worth, Texas; and 2. Adopt the attached ordinance which designates Tax Abatement Reinvestment Zone No. 43, City of Fort Worth, Texas pursuant to and in accordance with Chapter 312 of the Texas Tax Code. DISCUSSION: The proposed Reinvestment. Zone No. 43, City of Fort Worth, Texas (Zone) is located in CentrePort Business Park in east Fort Worth. The exact boundaries of the property are described in Exhibit A of the attached ordinance. A tax abatement application has been submitted for its proposed development. Motheral Printing Company is considering this site to relocate its operations because its current location (510 South Main) has been sold to the Fort Worth Independent School District. As required by Chapter 312 of the Texas Tax Code, a public hearing must be conducted regarding the creation of the Zone. Notice of this hearing was (1) delivered to the governing body of each affected taxing unit, and (2) published in a newspaper of general circulation at least seven days prior to this hearing. The area encompassing the proposed. Zone meets the statutory criteria for designation as a .tax abatement reinvestment zone set forth in Chapter 312 of the Texas Tax Code in that the area is reasonably likely, as a result of the designation, to contribute to the retention or expansion of primary employment or to attract major investment in the Zone that would be a benefit to the property and contribute to the economic development of the City. Further, the improvements sought in the Zone are feasible, practical, and would be a benefit to the land to be included in the Zone and to the City after any tax abatement agreements which may be entered into have expired. The term of the proposed Zone will be five years from the date of adoption of the attached ordinance and may be renewed for. periods not to exceed five years each. City of .,fort Worth, Texacs DATE 3/18/03 REFERENCE NUMBER G-13918. LOG NAME 17CENTRE PAGE 2 of 2 suB~ECT PUBLIC HEARING AND ORDINANCE DESIGNATING TAX ABATEMENT REINVESTMENT ZONE N0.43, CITY OF FORT WORTH, TEXAS . FISCAL INFORMATION/CERTIFICATION: The Finance Director certifies that this action does not require the expenditure of City funds. RR:k Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY Office by: (to) Reid Rector 6140 Originating Department Head: Tom Higgins 6192 (from) APPROVED 3/25/03 ORD. # 15499 Additional Information Contact: Peter Valry 7601 Ardina Washington 8003