HomeMy WebLinkAboutIR 8645 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 8645
To the Mayor and Members of the City Council November 30, 2004
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{ SUBJECT: Upcoming City Council Action Items for SH 121T
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This Informal Report is forwarded to alert you to some critical actions items related to the SH
121T project that will be coming forward in December for your consideration.
Southwest Parkway TIF (Tax Increment Finance District#11)
On July 27, 2004 (M&C G-14444), the City Council authorized the staff to release the preliminary
project and finance plans for the creation of the Southwest Parkway TIF. As you may recall, this
TIF district was central to the 2004 CIP program by allowing the City to fund the SH 121T related
infrastructure, enhancement, and right of way costs with minimal impact on the City's bonding
capacity. The staff is continuing to negotiate with the affected taxing jurisdictions to secure
participation agreements. In order to set the lowest base taxable value in the proposed district,
staff is recommending the Southwest Parkway TIF be formed this calendar year. To that end, we
intend to hold a public hearing on the TIF creation on December Ph and place on the December
7th agenda an M&C for the Council's consideration to create TIF #11.
Final Environmental Impact Statement
The SH 121T Pro�ect Team has been closely following the environmental process for this project.
On December 13 h, 2004 at 7:00 p.m. Ballroom C of the Fort Worth Convention Center, TxDOT
will hold a Public Hearing to hear -the public and affected stakeholders comments regarding the
Final Environmental Impact statement (FEIS.). Staff intends to provide a preliminary briefing to
the City Council in Executive Session on December 7th. The project team is in the process of
crafting a draft council resolution for your consideration on the December 7th agenda to articulate
the City's position on the latest draft of this document. This resolution will then be entered in to
the record at the TxDOT public hearing the following week.
Edwards-Geren Ltd. Development Agreements
Staff has nearly completed the property negotiations with the Edwards-Geren Ltd. interest for the
approximately 180 acres required for the project. As part of the settlement, the City has
negotiated two development agreements for each of the large tracts of land owned by Edwards-
Geren Ltd. These agreements will be coming to you for your consideration on the December 7m
2004, agenda. With your approval of these agreements, we will bring forward another agreement
that will include all remaining details of the property acquisition necessary for the City to acquire
the fee interest in the property. It should be noted that TxDOT and FHWA have approved this
acquisition can be made in advance of the environmental clearance of the project. Staff hopes to
close this transaction prior to the end of December 2004.
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS
INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 8645
To the Mayor and Members of the City Council
November 30, 2004
Page 2 of 2
SUBJECT: Upcoming City Council Action Items for SH 121T
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Nature & Character Negotiations with NTTA & TxDOT
Staff is in the process of negotiating an amendment to the tri-party agreement that details many
aspects of the "look and feel" of the Southwest Parkway. Staffs efforts are based on the work
product of the Citizen Advisory Group appointed by the Mayor and Council in late 2003. It is our
intention that this agreement will detail many of the capital and maintenance obligations of the
roadway among the project partners. The project team is working diligently on this amendment
and intends to bring it to the City Council for their consideration on December 7, 2004.
Bo 11
Charles R.
City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS