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HomeMy WebLinkAboutResolution 4261-11-2013 A Resolution NO. 4261-11-2013 EXPANSION OF THE RIDGLEA VILLAGE/COMO AREA NEIGHBORHOOD EMPOWERMENT ZONE WHEREAS, on April 25, 2000 the City of Fort Worth City Council ("Council") approved a Policy Statement on the Creation of Local Neighborhood Empowerment Zones; and WHEREAS, on October 3, 2000 the Council approved the criteria to determine whether an area would be eligible to be designated as a Neighborhood Empowerment Zone (NEZ); and WHEREAS, on March 27, 2012, the Council approved the creation of the Ridglea Village/Como NEZ and Fort Worth Neighborhood Empowerment Reinvestment Zone (FWNERZ) No. 2; and WHEREAS, it is being proposed that the Ridglea Village/Como NEZ boundary be revised to include property from Interstate Highway 30 West to Sanguinet Street, south to Diaz Street and back over to Neville Street as shown on Exhibit A; and WHEREAS, the Council finds that the boundary revision of the Ridglea Village/Como NEZ: (1) would promote the creation or rehabilitation of affordable housing in the zone and an increase in economic development in the zone, and (2) is 100% within the Central City and 100% within the Community Development Block Grant eligible area; and WHEREAS, the Council finds that the creation of the Ridglea Village/Como NEZ benefits and is for the public purpose of increasing public health, safety and welfare; and WHEREAS, the council finds that the Ridglea Village/Como NEZ satisfies the requirements of Section 312.02 of the Tax Code; and WHEREAS, the Council finds that the proposed boundary revision of the Ridglea Village/Como NEZ meets the criteria for NEZ designation. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: Section 1. The facts and recitations contained in the preamble of this Resolution are hereby found and declared to be true and correct. ir ORT WORT Resolution No.4261-11-2013 Section 2. The Ridglea Village/Como NEZ boundary is hereby revised as set forth in Exhibit A, Ridglea Village/Como Neighborhood Empowerment Zone & Ridglea Village/Como Neighborhood Empowerment Reinvestment Zone No. 2. Section 3. The Council adopts all basic incentives as described in the Neighborhood Empowerment Zone Basic Incentives (M&C G-17901) and as amended for the Ridglea Village/Como NEZ area boundary revision. Section 4. The designation shall expire with the original designation on March 26, 2022. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: Adopted this 12`h day of November, 2013. ATTEST: , �� �r n n 4�. °°°oo°Icy y Q°° O°°° O By: — et C10 d Mary Kayse y 'ecretary °°° °o°i��00 0,LI u��� ORT AMT EXHIBIT A Fort Worth Neighborhood Empowerment Reinvestment Zone No. 2 General Description The area to be designated as Fort Worth Neighborhood Empowerment Reinvestment Zone No. 2 for tax abatement purposes contains 1.61 square miles of land and is described below: On the North: Beginning at the intersection of Camp Bowie Boulevard and the eastbound service road of Interstate 30 West. Thence east on the eastbound service road to Neville Street. On the East: Beginning at the intersection of the eastbound service road of Interstate 30 West and Sanguinet Street. Thence south on Sanguinet Street to the northwest comer of Lot IRI, Block I of the Lena Pope Home Addition. Thence east along the northern property line of Lot 1R1, Block 1, of the Lena Pope Home Addition to the northeast comer. Thence south along the eastern property line of Lot IRI, Block 1, of the Lena Pope Home Addition to the southeast comer. Thence west along the southern property line of Lot IRI, Block I to Sanguinet Street. Thence south on Sanguinet Street to Diaz Street. Thence west on Diaz Street to Eldridge Street. Thence north on Eldridge Street to Geddes Street. Thence west on Geddes Street to Neville Street. Thence south on Neville Street to the unnamed creek flowing southeast from Lake Como. Thence southeast along the creek centerline to its intersection with the northeastern comer of Lot 1, Block 70 of the Chamberlain-Arlington Heights Subdivision, Second Addition. Thence south along the eastern property lines of Lots I and 40, Block 70; Lots I and 40, Block 73; Lots 1 and 40, Block 88; Lots I and 40, Block 91; Lots I and 40, Block 106; Lots I and 40, Block 109; Lot 1, Block 124, of the Chamberlain-Arlington Heights Subdivision, Second Addition, as recorded in Volume 63, Page 44; and of Lots 3A and 37R, Block 124R, as recorded in Volume 388-139, Page 96 of the Tarrant County plat records, to Vickery-Boulevard. This line also coincides with the r.o.w. of the platted, but unconstructed portion of Penticost Street, part 1 of2 of the Chamberlain-Arlington Heights Subdivision, Second Addition plat, as recorded in Volume 63, Page 44 of the Tarrant County plat records. The entire eastern boundary described above also coincides with the shared eastern boundary of the Lake Como and East Libby Avenue Neighborhood Associations. On the South: Beginning at the intersection of the above described boundaries of the Chamberlain-Arlington Heights Subdivision, Second Addition, also described as the shared eastern boundary of the Lake Como and East Libby Avenue Neighborhood Associations, and Vickery Boulevard. Thence southwest along Vickery Boulevard to its intersection with Ridglea Lane. On the West: Beginning at the intersection of Vickery Boulevard and Ridglea Lane. Thence north along the paved Ridglea Lane to its termination at the southeastern comer of Lot 16, Block 51 of the Ridglea Addition, as recorded in Volume 388-G, Page 14 of the Tarrant County plat records. Thence continue north along the rear property lines of lots 16 through 6, Block 51, the eastern terminus of Ridgeway Street, and the eastern property line of Lot 5, Block 51, of the Ridglea Addition, all recorded in Volume 388-G, Page 14 of the Tarrant County plat records, to the northeastern comer of said Lot 5. Thence west along the rear lot lines of lots, 5, 4, 3, 2, and 1, Block 51, Ridglea Addition, as recorded in Volume 388-G, Page 14 of the Tarrant County plat records, to Westridge Avenue. Thence north and northwest along Westridge Avenue to its intersection with Ridglea Place. Thence west around the circle on Ridglea Place to Bernie Anderson Avenue. Thence northwest along Bernie Anderson Avenue to Camp Bowie Boulevard. Thence northeast along Camp Bowie Boulevard to Fairfield Avenue. Thence northwest along Fairfield Avenue to the rear property line of Lot F, Block 20, Ridglea Addition, as recorded in Volume 6927, Page 2377, of the Tarrant County deed records. Thence northeast along said property line to Westridge Avenue. Thence southeast along Westridge Avenue to Camp Bowie Boulevard. Thence northeast along Camp Bowie Boulevard to its intersection with the eastbound service road of Interstate 30 West. 2 oft Jig: ., ,,,,, rrrr ,. .✓ ,r , ,/„" ,, ,/. ..., �. e, ;. :.,. / %<„ //. / // �//�. ,,,,✓,. /'si,�. �%/i„ ,/. r / /,.// / // i /iii rA•bll� ""'"-. �iiwwr+�.'""`1.<`1A0�I1� --•...'....""`■'�� `w"� � _.._ Cf1LMON� ws N LO DR EVA �. W MALI EY�� C��Ep:r•" w`"� - � KEivWI�K DONNEL_Y Ca DOfVNELL"Y® F►DNS' W *Y ° F F a ��} HIW�� HUUGHTON FiOIJC�H7C7N i0 ELET(;HER �I LLJ �� .; "', ►� � � O r BONNELL � ;,= �BONNELL. ���� � v ¢ KILPATRIGK � y- �c) G� ��� =�BLtVCKMC}� 4i5 �Mno- 5,� �J�HUfv1BER � HU' 'MBERT ��LL FINr��� S � SUti1q�; RIDDLES 1 $ �� �� i �, a a • d bl„ a• • •• a w a 1 1 1 1 • b b - City of Fort Worth, Texas Mayor and Council Communication zerw�umswo irvoo mo n u umwuwuuwuuuuw n�uuo o....om w niraa�wvrm! 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ACTIQ►N =Appr©rred'ar� '11/12l2E113 - + ina N 1 � 1 20 � tut% n No; 4201-11`-2t1 ` `uYmu�WNq 617prib'NUYGLiuW!W'WU1UIDlUwuw,',WN fimMtltlINUMNNW!vPWIWIMIOP!I7iVIVD WW!b4NfiM➢liu'i,WPNNUC`t",NIGUi61mImIIIIIIIIIIIIIIIIIIIIIIItlmmOmIWmIWA101W'iA1M7MPdiIfi71iMI010101II11MINIWU,w;W�MiYIIWIOIIIIImIJOI'aumIIIIIIIIINIUINIiWNI�WU uWlNUluluIIIWIUIUIUIIpII�NIOINUMWIWNIm0001MIIIIIIRW'IVII DATE: Tuesday, November 12, 2013 REFERENCE NO.: G-18060 LOG NAME: 17114EZRIDGLEACOMOREVISE SUBJECT: Conduct a Public Hearing, Adopt Resolution Expanding the Boundary of the Ridglea Village/Como Area Neighborhood Empowerment Zone and Adopt Ordinance Revising the Boundary of the Ridglea Village/Como Area as Fort Worth Neighborhood Empowerment Reinvestment Zone No. 2 (COUNCIL DISTRICTS 3 and 9) RECOMMENDATION: It is recommended that the City Council: 1. Conduct a public hearing concerning the expansion of Ridglea Village/Como Area as Fort Worth Neighborhood Empowerment Reinvestment Zone No. 2; 2. Adopt the attached Resolution expanding the boundary of the Ridglea Village/Como Area Neighborhood Empowerment Zone; and 3. Adopt the attached ordinance revising the boundary of the Ridglea Village/Como Area as Fort Worth Neighborhood Empowerment Reinvestment Zone No. 2, pursuant to the Texas Property Redevelopment and Tax Abatement Act, Tax Code, Chapter 312. DISCUSSION: On March 27, 2012, (M&C G-17564) the City Council adopted Resolution No. 4079 to designate the Ridglea Village/Como area as a Neighborhood Empowerment Zone (NEZ) and adopted Ordinance No. 20144 which designated Fort Worth Neighborhood Empowerment Reinvestment Zone (FWNERZ) No. 2. Staff recommends amending the boundaries of the NEZ and FWNERZ No. 2 to include property from Interstate Highway 30 West to Sanguinet Street, south to Diaz Street and back over to Neville Street in order to stimulate a large commercial development. The revised Ridglea Village/Como NEZ area was provided to the Housing and Economic Development Committee at the November 5, 2013 meeting and the Committee directed Staff to move forward with the amended boundary. The revised Ridglea Village/Como NEZ area, therefore, meets all the requirements for NEZ designation: Promotes economic development; . Has a population of no more than 6,000 persons; . The proposed revised 28th Street/Meacham NEZ area is 100 percent within the Central City and 100 percent within the Community Development Block Grant eligible areas; and . Meets criteria for Reinvestment Zone designation 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 Logname: I7NEZRIDGLEACOMOREVISE Pagel of 2 investment in the zone that would be a benefit to the area and that would contribute to the economic development of the City. One of the incentives a municipality can provide in a NEZ, according to Chapter 378 of the Texas Local Government Code, is an abatement of municipal property taxes for properties in the NEZ. In order to accomplish this, the revised Ridglea Village/Como area would need to be designated as a Reinvestment Zone. The Texas Property Redevelopment and Tax Abatement Act (Act) requires a public hearing. Notice of the public hearing was (1) delivered to the governing body of each affected taxing unit, and (2) published in the newspaper at least seven days prior to the public meeting. The Act requires the property receiving an abatement to be located in a reinvestment or enterprise zone. The proposed area meets the criteria for the designation of a Reinvestment Zone because 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 municipality. Further, future improvements in the zone will be a benefit to the City after any Tax Abatement Agreements have expired. The designation of a Reinvestment Zone expires after five years and may be renewed for periods not to exceed five years. The revised Ridglea Village/Como NEZ area is located in COUNCIL DISTRICTS 3 and 9. FISCAL INFORMATION / CERTIFICATION: The Financial Management Services Director certifies that this action will have no material effect on City funds. FUND CENTERS: TO F u nd/Accou nt/C enters FROM Fund/Account/Centers CERTIFICATIONS: Submitted for City Manager's Office by: Fernando Costa (6122) Jay Chapa (5804) Originating Department Head: Cynthia Garcia (8187) Additional Information Contact: Sarah Odle (7316) Logname: 17NEZRIDGLEACOMOREVISE Page 2 of 2