HomeMy WebLinkAboutContract 44981 CITY S
CONTRACT NO,
TAX ABATEMENT AGREEMENT FOR PROPERTY LOCATED A
NEIGHBO'RHOOD EMPOWERMENT ZONE
X525 Grenada Drive
This TAX ABATEMENT AI EMENT ("Agreement") is entered into by and between the
C'IT`E'' of FORT WORTH, T. S (the; "City"), a home rule municipal corporation organized under
the laws of the State of Texas and acting by and through T.M. Higgins, its duly authorized City Manager,
and Linda Wesson ("Owner"), owner of property located at 5525 Grenada Drive, described as Lot 18,
Bock 1, Waterfront at Enchanted Bay, an Addition to the City of Fort Worth, according to the .plat
recorded in cabinet ., Slide 1. 172,3, Flat records, Tarrant County, Texas.
The City Council of the City of Fort Forth ("City Council") hereby ends and the City and Owner
hereby agree that the following statements are true and correct and constitute the basis upon which the
City and Owner have entered, into this Agreement:
A. Chapter 378 of the Texas Local Government Code allows a m .cipal ity to create a
Neighborhood Empowerment Zone NEZ if the municipality deterrnines that the creation of
the vane would rornote:
(1) Te creation ofaffordable housing, including manufactured Mousing in the zone;
(2) increase in economic development in the zone;
(3) An increase in the quality of social sices, education, or public safety provided to
residents of the zone-,, or
(4) The rehabilitation of affordable housing in the zone.
B. Chapter 378 of the Texas Local Government Code provides that a municipality that creates a
NEZ, may enter into agreements abating 'cipal property taxes on property in the zone.
C. On July 31, 2001, the City adopted basic incentives for property owners who own property
located in a NET, stating that the City elects to be eligible to participate in tax abatement and
including guidelines and en'teria ,governing tax abatement agreements entered into between
the City and various third parties, titled "NEZ Basic Incentives , these were readopted on
May 21, 2013 Resolution No. 4209
D. The NEZ :Incentives contain appropriate guidelines and criteria governing tax abatement
agreements to be entered into by the City as contemplated by Chapter 312 of the Texas Tax
Code, as amended ("Code").
E. On February 3, 2 04, the City Council adopted Ordinance No. 158154 ("'Ordinance
establishing `Neighborhood Empowerment Reinvestment Zone No., 16,," City of Fort Worth,
Tex "'Zone"'). This reinvestment zone was renewed on February 17, 2009 by the City
Council and the adopted.Ordinance No. 18481.
F. Owner owns certain real property located entirely within the bale Arlington NEZ and that is
more particularly described in Exhibit "I", attached hereto and hereby made a part of this
Agreement for all purposes (the "Premises").
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NET Tax Abatement with Linda Wesson FE WORTH
µ
Approved by M&C C-26443, September 17, 2013
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G. Owner or its assigns plan to construct the Required Improvements, as defined in Section 1.1
of this Agreement, on the Premises to be used as a single-family residence that will be
Owner occupied.
H. On March 7, 2013, Owner submitted an application for NEZ, incentives and for tax
abatement to the City concerning the contemplated use of the Premises the "'Appheation"),
attached hereto as Exhibit "2" and hereby made a part of this Agreement for all purposes.
I. The City Council finds that the contemplated use of the Premises, the Required
Improvements, as defined in Section I-1, and the terms of this Agreement are consistent with
encouraging development of the Zone in accordance with the purposes for its creation and
are in compliance with the NEZ Incentives, the Ordinance and other applicable laws,
ordinances, rules and regulations.
J's, The terms, of this Agreement, and the Premises and Required Improvements, satisfy the
eligibility criteria of the NEZ Incentives.
K. Written notice that the City intends to enter into this Agreement, along with a copy of this
Agreement, has been furnished in the manner prescribed by the Code to the presiding
officers of the governing bodies of each of the taxing units in which the Premises is located.
NOW, THEREFORIE., the City and Owner, for and in consideration of the terms and conditions set
forth herein, do hereby contract, covenant and agree as follows.-
1. OWNER'S COVENANTS.
1.1. Real Property Improvements*
Owner shall construct, or cause to be constructed, on and within the Premises certain
improvements consisting of a single-family residence, of at least 3,700 square feet in size and built
to the specifications listed in Exhibit "Y', (collectively the "Required Improvements"). Tarrant
Appraisal District must appraise the property (improvements and land) within 10% of
$214,275.00, Owner shall provide a survey of the home upon completion of the Required
Improvements. The parties agree that the final survey shall be a part of this Agreement and shall
be labeled Exhibit "4". Minor variations and more substantial variations if approved in writing by
both parties to this Agreement before construction is undertaken in the Required Improvements
from the description provided in the Application for Tax Abatement shall not constitute an Event
of Default, as defined in Section 4.1, provided that the conditions in the first sentence of this
Section 1.1 are met and the Required Improvements are used for the purposes and in the manner,
described in Exhibit "Y'.
1.2. Completion Date of Reguired Improvements.
Owner certifies that the Required Improvements will be completed within two years from the
date of Council approval. The abatement will automatically terminate two years after Council
approval if a building permit has not been pulled and a foundation has not been poured, unless
delayed because of force majeure, in which case the two years shall be extended by the number of
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NEZ Tax Abatement with Linda Wesson
Approved by M&C C-26443, September 17, 2013
days comprising the specific force majeure. For purposes of this Agreement, force majeure shall
mean an event beyond Owner's reasonable control as determined by the City of Fort Worth in its
sole discretion, which shall not be unreasonably withheld, including, without limitation, delays
caused by adverse weather, delays in receipt of any required permits, or approvals from any
governmental authority, acts of God, or fires. Force majeure shall not include construction delays
caused due to purely financial matters, such as, without limitation, delays in the obtaining of
adequate financing.
1.3. Ise of Premises.
Owner covenants that the Required Improvements shall be used as the Owner's primary
residence in accordance with the NEZ Incentives. In addition, Owner covenants, that throughout
the Term, the Required Improvements shall be maintained for the purposes set forth in this
Agreement.
20 ABATEMENT AMOUNTS.,TERMS AND CONDITIONS�.
Subject to and in accordance with this Agreement, the City hereby grants to Owner a real property
tax abatement of City of Fort Worth-imposed taxes on the Premises for the Required Improvements, as
specifically provided in this Section 2 ("Abatement"). Abatement does not include taxes from other taxing
entities.
2.1. Amount of Abatement.
The actual amount of the Abatement granted under this Agreement shall be based upon the
increase in value of the Premises due to the Required Improvements,, over its value on September
177 2013, the year in which both parties executed this Agreement.
If the square footage requirement and the appraised value of the Required Improvements
are less, than as provided in Section 1.1 of this Agreement, Owner shall not be eligible to receive
any Abatement under this, Agreement.
2.2 Increase In Value.
The Abatement shall be '100% of the increase in value from the construction of the
Required Improvements and shall apply only to taxes on the increase in n value of the Premises due
to construction of the Required Improvements. The Abatement shall not apply to taxes on the
land, nor shall the abatement apply to mineral interests.
2.3. Term of Abatement.
The term of the Abatement ( "Term") shall begin on January 1, of the year following the
11,
calendar year in which the Required Improvement is completed ""Beginning Date") and, unless
sooner terminated as herein provided, shall end on December 3 1 immediately, preceding the fifth
Ih
5 anniversary of the Beginning Date.
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NEE Tax Abatement with Linda Wesson
Approved by M "-26443, September 17, 2013
2A Protests Over Appraisals or Assessments.
Owner shall have the night to protest and contest any or all appraisals or assessments of the
Premises and/or improvements thereon.
2.5. Abatement Application Fee.
The City acknowledges receipt from Owner of the required Application fee of $100.00.
The application fee shall not be credited or refunded to Owner or its assigns for any reason.
3. RECORDS, AUDITSAND EVALUATION OF REOURIED IMPROVEMENTS,
3.1. Inspection Pr0,.of enuses,
Between the execution date of this Agreement and the last day of the Ten-n, at any time
during normal office hours throughout the Term and the year following the Term and following
reasonable notice to Owner, the City shall have and Owner shall provide access to the Premises in
order for the City to inspect the Premises and evaluate the Required Improvements to ensure
compliance with the terms and conditions of this Agreement. Owner shall cooperate fully with the
City during any such inspection and/or evaluation.
12. Certification.
Owner shall certify annually to the City that it is in compliance with each applicable term of
ti-lis Agreement. The City shall have the right to audit at the City's expense the Required
Improvement with respects to the specifications listed in ExNbit "Y'. Owner must provide
documentation that Owner is using the Required Improvements as its primary residence
(collectively, the "Records") at any time during the Compliance Auditing Term in order to determine
compliance with this Agreement. Owner shall make all applicable Records available to the City on
the Premises or at another location in the City following reasonable advance notice by the City and
shall otherwise cooperate fully with the City during any audit.
31.3 Provision of Information.
On or before March I following the end of every year during the Compliance Auditing Term
ana at any other time if requested by the City, Owner shall provide information and documentation
for the previous year that addresses Owner's compliance with each of the terms and conditions of
tNs Agreement for that calendar year.
Failure to provide all information within the control of Owner required by this Section
33 shall constitute an Event of Default, as deftned M* Section 4.1.
14 Determination of Compliance.
On or before August I of each year during the Compliance Auditing Term, the City shall
make a decision and rule on the actual annual percentage of Abatement available to Owner for the
following year of the Term and shall notify Owner of such decision and ruling. The actual
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N Tax Abatement with Linda Wesson
Approved by M&C C-26443, September 17, 2 013
percentage of the Abatement granted for a given year of the Term is therefore based upon owner's
compliance with the terms and conditions of this Agreement during the previous year, of the
Compliance Auditing Term.
4. EVENTS of DEFAULT.
4.1. Ike me .
Unless otherwise specified herein, owner shall be in default of this Agreement if(i) owner
fails to construct the Required Improvements as defined in Section i.1. (ii) ad valorem real property
taxes with respect to the Premises or the Required Improvements, or its ad valorem taxes with
respect to the tangible personal property located on the Premises, become delinquent and owner
does not timely and properly follow the legal procedures for protest and/or contest of any such ad
valorem real property or tan,gible personal property taxes ('111) OWNER o S NOT USE THE
PREMISES AS PRIMARY RESIDENCE: ONCE THE ABATEMENT BEGINS; or iv
OWNER DOES NOT COMPLY WITH CHAPTER 7 AND APPENDIX B OF THE CODE
OF ORDINANCES of THE CITY of FORT WORTH (collectively, each an "Event of
Default").
4.2. Notice to Cure.
Subject to Section 5, if the City determines that an Event of Default has occurred, the City
shall provide a written notice to owner that describes the nature of the Event of'Default. owner
shall have sixty ) calendar days from the date of receipt of this written notice to fully cure or
have cured. the Event of Default. If owner reasonably believes that owner will require additional
time to cure the Event of Default, owner shall promptly notify the City in writing, in which case
(1) after advising the City Council in an open meeting of Owners efforts and intent to cure, owner
shall have ninety calendar days from the original date of receipt of the written notice, or iii) if
Owner reasonably believes that owner will require more than ninety 9 days to cure the Event of
Default, after advising the City Council in an open meeting of owner"s efforts and intent to cure,
such additional time, if any, as may be offered by the City Council in its sole discretion..
4.3 Ternfinadon for Event of Default and Pavment ofLiquidated Darna es.
If an Event of default which is defined in Section 4.1 has not been cured within the time
frame specifically allowed under Section 4.2, the City shall have the rift to terminate this
Agreement immediately., owner acknowledges and agrees that an uncured went of Dlefault will
(1) harm the City's economic development and redevelopment efforts on the Premises and in the
vicinity of'the Premises; (ii) require unplanned and expensive additional administrative oversight
and involvement by the City, and (iii) otherwise harm the City, and owner agrees that the amounts
of actual damages therefrom are speculative in nature and will be difficult or impossible to
ascertain. Therefore, upon termination of this Agreement for any Event of Default, owner shall
pay the City, as liquidated damages; all taxes that were abated in accordance with this Agreement
for each year when an Event of Default existed and which otherwise would have been paid to the
City in the absence of this Agreement. The City and owner agree that this amount is a reasonable
approximation of actual damages that the City will incur as a result of an uncured went of Default
and that this Section 4.3 is intended to provide the City with compensation for actual damages and
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NEZ Tax.Abatement with Linda Wesson
Approved by M&C C-26443, September 17, 2013
ry,
is not a penalty. This amount may be recovered by the City through adjustments made to Owner's
ad valorem property tax appraisal by the appraisal district that has jurisdiction over the Premises.
Oth ise, this amount shall be due, owing and paid to the City within sixty 0 days following
the effective date of termination of this Agreement. In the event that all or any portion of this
amount is not paid to the City within sixty 6 days following the effective date of termination of
this Agreement, owner shall also be liable for all penalties and interest on any outstanding amount
at the statutory rate for delinquent taxes, as determined by the Code at the time of the payment of
such penalties and interest (currently, Section 33.01 of'the "ode).
4.4. Termination at Will.
If the City and owner mutually determine that the development or use of the Premises or the
anticipated Required Improvements are no longer appropriate or feasible, or that a higher or better
use is preferable, the City and Owner may terminate this Agreement in a written format that is
sued by both parties. In this event, i if'the Term has commenced, the Tei"`n'i shall expire as, of the
effective date of the termination of this Agreement; (ii) there shall be no recapture of any taxes
previously abated; and (iii) neither party shall have any further rights or obligations hereunder.
Sexually oriented business & Li uo�r Stores or Packa a Stores.
a. owner understands and agrees that the City has the right to terrnirnate this
agreement if the Required Improvements contains or will contain a sexually oriented business.,
b. owner understands and agrees that the City has the right to terminate this
agreement as determined in City's sole discretion if the Required Improvements contains or will
contain a liquor store or package store.
5. EFFECT of SALE of PR-HIVES.
Except for an assignment to owner's first mortgagee or to a ho ebuyer who will use the Required
Improvements as its primary residence or the homeowner's mortgagee which City Council hereby agrees to,
the Abatement granted hereunder shall vest only in owner; however if owner sells the Premises and
Required Improvements, this Abatement cannot be assigned to a new owner of all or any portion of the
Premises and/or Required Improvements without the Prior consent of the City Council, which consent shall
not be unreasonably withheld provided that i the City Council finds that the proposed assignee is
financially capable of meeting the terms and conditions of this Agreement and (ii), the proposed purchaser
agrees in writing to assume all terms, and conditions of owner under this Agreement. owner may not
other\vise assign, lease or convey any of its rights under this Agreement. Any attempted assignment without
the City Council's prior consent shall constitute grounds for termination of this Agreement and the
Abatement granted hereunder following ten 10 calendar days of receipt of written notice from the City to
Owner.,
Upon assignment to Owners first mortgagee, or to a home buyer who wul use the Required
Improvements as its primary residence or the homeowner's mortgagee, owner shall have no further
obligations or duties under this Agreement. In addition, upon assi gnment to any other entity with the
written consent of City C'ouned Owner shall have no further duty or obligation under this
Agreement.
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NEZ Tax Abatement with Linda Wesson
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IN No EVENT SHALL THE TERM OF THIS AGREEMENT BE EXTENDED IN THE EVENT
OF:A SALE OIL ASSIGNMENT.
THE FAILURE of OWNER TO SEND THE CITY NOTIFICATION of THE SALE; OF THE
REQUIRED IMPROVEMENTS AND EXECUTION OF THE ASSIGNMENT OF THIS
AGREEMENT WITH THE NEW OWNER WITHIN 30 DA'B'S OF THE TRANSFER of
OWNERSHIP IP of THE R-EQUIREID IMPROVEMENTS SHALL RESULT IN TIDE AUTOMATIC
TERMINATION OF THIS AGREEMENT. THE NOTICE AND EXECUTE ASSIGNMENT
MUST BE SENT TO THE CITY BY CERTIFIED MAIL OR BY HAND, DELIVERY.
6, NOTICES,,
All written notices called for or required by this Agreement shall be addressed to the following, or
such other party or address as either party designates in writing, by certified mail, postage prepaid, or by
hand deliver.
city: and Owner:
City of Tort Worth Housm* & Economic Development Dept. Linda Wesson
Attn. City Manager's Office Attn Jay C'hapa, Director 6415 High Country T"rl
1000 Throckmorton 1000 Throckmorton Arlington,TX 7601
Tort Worth, Texas 76102 Fort Worth.,Texas 76102
7. MISCELLANEOUS*
EOUS*
7.1. Bonds
The Required Improvements will not be financed by tax increment bonds. This Agreement
is subject to the rights of holders of outstanding bonds of the City.
7.2. Conflicts of Interest.
Neither the Premises nor any of the Required trnprovements covered by this Agreement are
owned or leased b an member of the City Council, any member o the City Planning or otng
y y y
Commission on or any member of the governing body of any taxing units in the Zone.
7.3. Conflicts Between Documents.
In the event of any conflict between the City's zoning ordinances, or other City ordinances or
regulations, and this Agreement, such ordinances or relations shall control. In the event of any
conflict between the body of this Agreement and Exhibit "Y,, the body of tl-is Agreement shall
control.
7.4. Future Application,
A portion or all of the Premises an or Required Improvements may be eligible for
complete or partial exemption from ad valorem taxes as a result of existing law or future
`age 7 of I I
FEZ Tax Abatement with Linda Wesson
Approved by M&C C-26443, September 17, 201
legislation. This Agreement shall not be construed as evidence that such exemptions do not apply
to the Premises and/or Required Improvements.
7,5. Co t ouncfl Authorization,
I—Y
This Agreement was authorized by the City Council through approval of Mayor and
I
Council Conununicatio:n No. C-264431 on September 17, 2013, which, among other things,
authorized the City Manager to execute this Agreement on behalf of the City.
7.66 Estop gel Certificate.
, cateo:
A.ny party hereto may request an estoppel certificate from another party hereto so long as the
certificate is requested in connection with a bona fide business purpose. The certificate, if requested,
will be addressed to the Owner, and shall include, but not necessarily be limited to, statements that
thl's Agreement is in full force and effect without default (or if an Event of,Diefault exists, the nature
of the vent of Default and curative action taken and/or necessary to effect a cure), the remaini
E ng
ten-n of this Agreement, the levels and remaining term of the Abatement in effect, and such other
matters reasonably requested by the party or parties to receive,the certificates.
7.7. Owner Stan a
Owner shall be deemed a proper and necessary party in any litigation questioning or
challenging the validity of this Agreement or any of the underlying laws, ordinances, resolutions or
City Council actions: authorizing this Agreement and Owner shall be entitled to intervene in any
such litigation.
7.8. Venue and Jurisdiction.
This Agreement shall be construed in accordance with the laws of the State of Texas and
applicable ordinances, rules, regulations or policies of the City. Venue, for any action under this
Agreement shall lie in the State District Court of Tarrant County, Texas. This Agreement is
performable in Tarrant County,Texas.
7.9. SeverabW -
If any provision of this Agreement is held to be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or
impaired.
7.10 Headin s dot Clo:ntro
Headings and titles used in this Agreement are for reference purposes only and shall not be
deemed a part of this Agreement.
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NEZ Tax Abatement with Linda Wesson
Approved by M&C C-26443, September 1 7, 2 013
7.11. Entiretv of Agree ent.
This Agreement, including any exhibits attached hereto and any documents incorporated
herein by reference, contains the entire understanding and agreement between the iCity and Owner,
heir assigns and successors in interest, as to the matters contained herein. Any prior or
contemporaneous oral or written agreement is hereby declared null and void to the extent in
conflict with any provision of this Agreement. This Agreement shall not be amended unless
executed in writing by both parties and approved by the City Council. This Agreement may be
executed in multiple counterparts, each of which shall be considered an original, but all of which
shall constitute one instrument.
CITE' of FORT WORTH: OWNER:
B
Fernando Costa Linda esson
Assistant City Manager Owner
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Assistant Cite Attorney
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Approved by M&C C-26443, September 17, 2013
STATE OF T EXAS
COUNTY of TARRANT
BEFORE ME, the undersigned authority, on this day personally appeared Fernando
Costa, Assistant City Manager of the CITY Off" FORT WORTH, a rnuru'cipal corporation,
own to me to he the person and officer whose name is subscribed to the foregoing
instrument, and acknowledged to me that the sane was the act of the said CITY OF FORT
WORTH, TEXAS, a municipal corporation, that he was duly authorized to perform the
same by appropriate resolution of the City Council of the City of Fort Worth and that he
executed the same as the act of the said City for the purposes and consideration therein
expressed and in the capacity therein stated`
G E 'UNDER MY HAND AND SEAL OF OFFICE E this day of
ONIA DANIELS
EV
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rotary Public in and for
��� is ' ° Texas
th ate `� as � ,Commission i
Ju1Y 10, 2017
Notary's Printed Name
STATE OF TEXAS §
COUNTYOFTARRANT
BEFORE ME, the undersigned authority, on this day personally appeared Linda
Wesson, known to e to he the person whose name is subscribed to the foregoing
insttrument, and acknowledged, to me that he executed the same for the purposes and
consideration therein expressed, in the capacity therein stated.
GIVI UNDER MY HAND AND SEAL OF OFFICE this day of
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Notary Public in d r
the State of Texas .ODLE
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NEZ Tax Abatement with Linda Wesson.
Approved by M&C C 26443, September 17, 20 13
Exhibit I.- Property Description
Exhibit 2: Application: (NEZ) Incentives and Tax Abatement
Exhibit 3: Required Improvements description including kind, number and location
of the proposed improvements.
Exhibit 4-. Final Survey
Page I I of I I
NEZ Tax Abatement with L,inda Wesson
Approved by M&C C-,26443, September 1 7, 2,013
Exhl"biot
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Property Descri ion
5525 Grenada Drive, described as Lot 18, Bock I. Waterfront at Enchanted Bay, an
Addition to the City of Fort Worth, according to the Plat recorded in Cabinet A, Slide
11 723, Plat Records, Tarrant County, Texas.
E x h ib i t 22
OR WORTH Appfication No.
CITY OF FORT WORTH
NEIGHBORHOOD EMPOWERMENT ZONE, (NEZ) PROGRAM
Ma
11ROJECT CERTIFICATION A-PPI-A'CATION
— 11 ,
t. ,APPLICATION'CHECK LIST - Please submit the following documentation:
A completed application form
A list of all properties owned by the applicant.owner.developer,associates, principals, partners., and agents
in the Citv Fort Worth
Non Refundable Application, fee– For all Basic Incentives applications excluding Tax Abatement the
application fee is $25.00. For multifamily, corgi mercial. industrial,,commercial facilities,and mixed-arse tax
abatement applications: 0.5%of the total Capital Investment of the project, with a $20,0.00 minimum and
not to exceed $2,000.00,; For residential tax abatement applications: $100.00,per house.
Proof of ownership,such as a warrcmty deed,affidavit ofheirship,or a probated will OR evidence of'site
'*control, such as option to buy (A registered warranty deed is required for tax abatement application.)
Title abstract of the property only if applying for release of City liens,)
A reduced I I x 17 floor plan.site plan, and site elevation with
a
written detailed project description that includes a construction time line
A detailed line item budget showing the cost,breakdown for the project
Copy of Incorporation Paper's noting all principals, partners, and agents if applicable
Rtguired - Meet with the Councilmember and Neighborhood &other Organizations representing the NEZ
as outlined in the Public Notice requirement of t,he'NEZ Policy and Guidelines revised, April 6,20o 4 or
followed guidelines of NEZ Strategic Plan if a Strategic Plan is in place for the specific NEE.
Support letter from Woodhaven Neighborhood Association and, Woodhaven Community Development
Corporation(For projects located, in Woodhaven NE Z only)
INCOMPLETE APPLICATIONS WILI., NOrr BE PROCESSED FOR CERTIFICATION UNTIL ALL REQUIRED
DOCUMENTS SHOWN IN THE ABOVE C"ECKLIST ARE suBmiTTED wiTHIN 30 DAYS AFTER TtIE
APPLICATION IS RIECEIVED.
YOU MUST APPLY FOR 'VAX ABATEMENT BEFORE ANY BUILDING PERMITS ARE ISSUED FOR YOUR
PROPERTY AND BEFORE ANY IMPROVEMENTS ARE MADE, TO YOUR PROPERTY. IT ,rAKES 60 TO 90
BUSINESS DAYS, TO COMPLETE THE TAX ABATEMENT AGREEMENT APPROVAL PROCESS A RTHE
ISSUANCE OF NEZ CERTIFICATION DEPENDING ON THE COMPLEXITY OF YOUR PROJECT. ALL
BUILDING PERMITS MUST BE PULLED WITHIN THE 12 MONTH PERIOD THAT CERTIFICATION WAS
APPROVED, OR WITHIN THE 12 MONTH PERIOD,THAT THE TAX ABATEMENT WAS APPROVED.,OR YOU
WILL BE REQUIRED TO RE-APPLY FOR NEZ INCENTIVES.
It. APPLICANT AGENT INFORMATION
k/,-,X-4 � .(t
I. Applicant: j J e:�4J _ 2. Contact Person: lok�l PJ 14 Jj%(Ir�
3. Address: 7,e_ d 6 X / ( 7 A J -,'7
I —
C'*
Street ity Matte. Zip
4. Phone no.: a
5. Fx No,.,:
5 ofl Al
0
6. Emaile
7. Agent(if any)
• Add ress,:
C 0 ity
Street I State Zip
9. Phone no.: 10. Fax No.,:
11. Email:
Revised J u i y 221,'42 0 1 0 1
FORT WORTH
Application N .
PROJECTELIGIBILITY
I., Please list down the addresses and legal descriptions of the project and other properties your
organization owns ']'in Fort Worth. Attach metes and bounds description if no address or legal
deseniption is available. Attach a map showing, the location of'the project.
Table I Property Ownershlh:
Add ress Zip Code Leea n inu
(Project Location), Subdivision Name 1,ot No. Block No.,
him!
........... ...............
Other properties,ow"ed 'in the City of Fort Worth continue on a -separate sheet and attach if'necessary.
2. For each property listed in "Fable 1, please check the boxes below to indicate if-,
• there are, taxes past due; or
• there are City liens; or
IS You (meaning the applicant'. developer, associates, agents, principals) have been subject to a Building,
Standards Commission's Order of Demolition where the property was derniolished within the last, five
years.
Table 2 Pro p�qy_`taxes and City Liens
Property Clit-y Liens,on Property
Add,rem Taxes —Weed Boat-d-up/Open Demolition Paving Order of
Due Liens Stuctu,re teens Liens [Aens Demolition
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(Please WWI additional sheets of paper as need,ed.)
If there, are taxes due or liens against any property Iin the City of Fort Worth you may not be eligible
for NEZ incentives
Revised Ju,ly 212,2010
Ve%
ruRTWORTH App licatio n No.
3. Do you own other properties under other names"ll Yes No
If Yes, please specify
4. Does the proposed project conform with City of Fort Worth Zoning? Yes No
If no, what steps are being taken to insure compliance?
5. Project
Type-, Single Family Mu,lti-Famr ly Commercial Industrial Community Facilities Mixed-Use
yowiter Occupied
DRental Property
6. Please describe the proposed residential car commercial project-.
7. If your project is a commerciall,industrial,, r ixed-use 'project, please describe the types of
businesses that are being proposed:
8. Is this a new construction or rehab project9. New Construction 0 Rehab
9. How much is the total development cost of your project
10. Will the eligible rehabilitation, work* equal, to at least 30% of the Tarrant/Appraisal Distrilet (TAD)
assessed value of the structure during,the year rehabilitation occurs9' "es No
*Eligible rehabilitation includes only physical irnprovernents to real property. It doles NOT include:
Front and fencing consisting of chain-link or solid material construction; personal property such as furniture,
appliances, equipment,andJor supplies. Total eligible rehabilitation costs shall equal to or exceed 30%of the
TAD appraised value of the structure during the year rehabilitation occurs.
IL How much is the total square footage of your project? t;�� j7d I square feet
If applying for a, tax abatement please answer questions 12— 16. If not slip to part .1,11 Incentives
I F or a sin Fie-family homeownership *xed-use, or multi-fam., devel2pmen se rill out
'20 1 ml tprolect, plea
the number of residential units based on income range of owners or renters in the followling,table.
Table 3 Number of Residential Units and Income Ran ge of Owners or Renters
Number of Units Percentage
Income Ranoe
> 80%of AMFI**
At or below 80%of AMFI
Total Units
"ANIF11- Area Median Family Income. Please see attachment for income and housing payment aLlidelines.
Z
13. For a multifamily pr2ject to be qualified for tax abatement, at least 20% of total units shall be
affordable to familles at or below 810% of AMF'I. Check the box lifyou are requesting a waiver of this
requirement.
14. For a commercial industrial or comm ct, indicate, square footage of non-
1L i n uqity facintiesprole
identiall space.
res 1
Commercial [ndustrial, Community Facilities
square feet square feet sq uare feet
Revised July 22,20 1 01 1)
rORTWORTH' AppUication No.
15. How much will be your Capital Investment*** on the project? Please use the following table to provide
the details and amount of yo ur Capital Investment (Attached addlitional,sheets if necessar-y).
Table 4 Itemized Budget of the Project
Items Amount Notes
7 r4 C-tv,6))
Total
***Capital Investment includes only real property improvernents, such as new facilities and structures, site improvements, facility
expansion, and facility modern ization. Capital Investment, DOES NOT include land acquisition costs and/or any existing
improvements,or personal property(such as machinery,equipment,and/or supplies or inven,tory).
16. For a commercial, industriabcommuni!y facili ty or mixed-use project, how many employees will the
prq,*ect generate"?
17. for a mixed-use pule use indicate the percentage of all uses in the project in the following,table.
Table 5 Percentage of Uses in a Mixed-Use Project
Type Square Footage Percentage
Residential
Off ice
Ea,ti_!Ig
Entertainment
Retail sales
Sery ice
Total
111. INCENTIVES - What incentives are you applying for?
Municipal Prope Tax Abatements
Must pro ,de Final Plat Cabinet and Slide for Tax Abatement Cabinet Slide
years, [1, More than 5 years
5
DII(esidential owner occupied Oresidential Rental Property E]:Aplartmients(5 plus units) Commercial
Development Fee Waivers
All building permit related fees(including Plans Review and Inspections)
Plat application fee(including concept plan, preliminary plat, final plat, short fon-n replat)
Zoning appl1ication fee Board of Adjustment application fee
F1 Dernolition, fee El Structure moving fee
Community Facilities Agreement(CFA)application fee
El Street and utility easement vacation application fee
Impact Fee Waivers -The maximum water/wastewater impact fee waiver amount for a commercial, industrial, mixed-
use, or community facility development project is equivalent to the,water/wastewater impact fee of two 6-inch meters
Water (Meter Size ('No. of meters Transportation
Release of Ct't-y Liens
El Weed liens, Paving liens E] Board up/open structure liens F1 Demolition liens
Revised July 22,20 1 0 4
fon WORTH
ACKNOWLEDGMENTS
I hereby certify that the information provided is true and accurate to the hest of my knowledge. 1 hereby
acknowledge that I have received a copy of NEZ Basie Incentives,which governs the granting of tax abatements, lee
waivers and release of City liens, and that any VIOLATION of the terms of the N EZ basic Incentives or
ISREPRES N FATE N shall constitute rounds for reject
� � rejection, of an apptiation or termination of incentives at the
discretion of the City.
1 understand that the approval of fee waivers and other incentives shall not he deemed to he approval of any aspect of
the project.. l understand that I any responsible in obtaining required permits and inspections from the City and in
ensuring the project is located in the correct zoning district.
I understand that nay application will not he processed if it is incomplete. I agree to provide any additional
information for determining eligibility as requested by the City.
11,A Y
J
(PRINTED OR TYPED NAME) ORIZE SIGNATURE) DATE
Please mail or fax your appYteatlon..to
City of Fort Worth Planning and .Development Department
1 Throckmo,rton Street, Fort Worth,Texas 76102
""el: 17)392-222,2 fax: 1 392-811
Electronic version of this form is available on our wehsite. For more information on the N EZ program, please visit
our web site at ww,w.fortwnrthg v.o rg/plann.inganrldevelnpment
For Office Ust Only
. Ouncil c l�n 1F,? " District
Application No. _ ,
p p l e ted Date
� at�o orn
to(Deceived Date)-., ;ohforrn with Zoning? 0 Yes ONo.
Type.' SF Multifamily [1, Commercial ] .nldustrial Community facilities
Construction corn p letion date Before NEZ ,after EZ Ownership/Site Control Ea-�es No
TAD Account No.
. Consistent with the NEZ plan? "" es 0 No
Meet affordability test? es 0 No Minimum Capital Investment? ayes 0 No
Rehab at or higher than 30% Nlyves 0 No fleet mixed-use definition? D'yes 0 No
Tax current on this property? " es e, Tax current on other properties? 19�es No
City liens on this property's
City hens on other properties?
• Weed liens El Yes 0 * Weed liens El Yes Rl�o
• Board-Up/open structure liens 0 Yes Io * Board-up/open structure liens 0 'des o
Demolition liens 0 Yes RNo 9 Demolition liens El 'Yes �o
Paving liens 0 Yes o * Paving,liens. Yes ONo
Order ofde o,lition E, ' es * Order of demolition des �140
Certified 'es 0 No Certified by 'Date certification issued`
If not certified. reason
Deferred to: DEconomic .
Development oDevelopment ElWater DCode EITPW
Revised July 22, 20 10 5
Exhibl*0,1311
Project Description
Two Story Single Family Residence
3 Bedrooms
3 Bathrooms
Fireplace
Living Room
Utility Room
Mud Room
Game Room
Front Covered Porch
2
tad Floor Covered Balcony
Rear Covered Patio
Outdoor Kitchen
Approximately 3700 square feet
2 Car Garage
dal site of
Fo RT W"O RT I I
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c C�'
DA,-
COUNCILACTION',",tv,
410
DATE. 011712013 REFERENCE C-25443 LOG N ME. 17NEZ5525G NADA
NO.:
NON- PUBLIC N
CODE. C E CONSENT HEARING.
SUBJECT: Authoriize Execution of a Five-gear Tax Abatement Agreement with Linda Wesson for
Construction of a Single-Family Dwelling Located at 5525 Grenada Drive in the Lake
Arlington Neighborhood Empowerment ;done CO' NCIL DISTRICT 5)
m401 ill
I
RECOMMENDATION
It is recommended that the City Councils authorize the execution of a Five-Year Tax Abatement
Agreement with Linda Wesson for construct,i,on of a single-family dwelling located at 5525 Grenada
Drive in the Lake Arlington Neighborhood Empowerment Zone, in accordance with the Neighborhood
Empowerment Zone Tax Abatement Policy and Bas,i,c Incentives.
DISCUSSION:,
Linda Wesson Property Owner) is the owner of the property described as Lot 18, Bloc 1, of
Waterfront at Enchanted Bay, an Addition to the City of Fort''Forth, Tarrant County, Texas, accordingi
to the plat recorded in Cabinet A, Slide, 1 1723, of the Plat Records of Tarrant County, Texas, at 5525
Grenada, Drive, Fort W'orth�,, Texas. The property is located within the Lame Arlington Neighborhood
Em powermen�t,Zone 1114 EZ .
The Property Owner Mans to invest an estimated amount of $214,275.00 to construct an,
approxirnately 3,700 square foot single family residence (,Project). The Project will be used as the
primary residence of the Owner.
The Housing and Economic Development Department reviewed the application and certified that the
Property Owner and Project met the eligibility criteria to receive a NEZ Municipal Property Tax
Abatement., The NEZ Basic Incentives incl�udles a five-year 'Municipal Property Tax Abatement on the
increased value of improvements to the qualified owner of any new construction or rehabilitation
within the NEZ.
Upon execution of the Agreement, 100 percent of the assessed value of'the improvements used for
calculating municipal property tax will be frozen for a period of five years starting January 201 at the
estimated pre-ilm,provement° aline, as defined by the Tarrant Appraisal District (TAD), for the property
as follows:
Pre-Improvement TAD"value of Improvements $ 0.00
Pre-improvement Estimated Value of Land $381000.00
Total Pre-Imprlo ►emen Estimated Value $389000.00
The municipal property, tax on the improved value of Project after construction is estimated in the
amount of$1,532.05 per year for a total amount of$9,160.216 over the five-year period. However, this
estimate may differ from the actual tax abatement value, which will be calculated based on the Tarrant
Appraisal District appraised value of the property..
In the event of a sale of this property, the NEZ Tax Abatement Agreement may be assigned to a new
owner's first mortgagee or a new homeowner as their primary residence. All other assignments must
be approved by the City Council.
This property is located) in COUNCIL DISTRICT 5.
Page I of
FISCAL INFORMATIONXER-FIFICATION:
The Financial Management Services Director certifies that this action wili not increase the total
appropriations on City funds.
TO Fund/Account/C enters FROM Fund/Account/Centers
Submitted for City Manager's Office by: Fernando Costa (6122)
Ori-ginating Department Head: Cynthia Garcia (8187)
Additional Information Contact: Sarah Odle (7316)
ATTACHMENTS
5525 Grenada Mag. df
Elevation and Plot Plan.pdf
Page 2 of 2