HomeMy WebLinkAboutOrdinance 15733ORDINANCE NO. 171
AN ORDINANCE OF THE CITY OF FORT WORTH, TEXAS
ORDAINING THE CITY OF FORT WORTH'S PARTICIPATION IN THE
TEXAS ENTERPRISE ZONE PROGRAM PURSUANT TO THE TEXAS
ENTERPRISE ZONE ACT, CHAPTER 2303, TEXAS GOVERNMENT
CODE ( "ACT "), PROVIDING TAX INCENTIVES, DESIGNATING A
LIAISON FOR COMMUNICATION WITH INTERESTED PARTIES,
NOMINATING BANK ONE, N.A. CENTREPORT DEVELOPMENT
("BANK ONE PROJECT ") AND PIER 1 SERVICES COMPANY
HEADQUARTERS DEVELOPMENT ( "PIER 1 PROJECT ") TO THE
OFFICE OF THE GOVERNOR ECONOMIC DEVELOPMENT &
TOURISM ( "EDT ") THROUGH THE ECONOMIC DEVELOPMENT
BANK ( "BANK ") AS ENTERPRISE PROJECTS, AND NOMINATING
RADIOSHACK CORPORATION CAMPUS DEVELOPMENT
( "RADIOSHACK PROJECT ") TO EDT THROUGH THE BANK AS A
DOUBLE JUMBO ENTERPRISE PROJECT.
WHEREAS, the City Council of the City of Fort Worth, Texas ( "City ") desires to create
the proper economic and social environment to induce the investment of private resources in
productive business enterprises located in severely distressed areas of the City and to provide
employment to residents of such areas; and
WHEREAS, the Pier 1 Project and the RadioShack Project are located in an area
designated as an enterprise zone; and
WHEREAS, the City has a previously designated enterprise zone, approved by EDT's
predecessor agency, Enterprise Zone No. EZ222- 052797 -F ", approved May 27, 1997, as
expanded and approved on October 10, 2003, which will expire September 1, 2004 and which
the City requests remain in effect until the original expiration date; and
WHEREAS, the Bank One Project is not located in an area designated as an enterprise
zone; and
WHEREAS, pursuant to Chapter 2303, Subchapter F of the Act, Bank One, N.A.
( "Bank One ") and Pier 1 Services Company ( "Pier 1") have applied to the City for designation
of the Bank One Project and the Pier 1 Project, respectively, as enterprise projects; and
WHEREAS, pursuant to Chapter 2303, Subchapter F of the Act, RadioShack
Corporation ( "RadioShack ") has applied to the City for designation of the RadioShack Project
as a double jumbo enterprise project; and
WHEREAS, the City finds that the Bank One Project, the Pier 1 Project and the
RadioShack Project meet the criteria for tax relief and other incentives adopted by the City on
the grounds that they will be located at qualified business sites, will create a higher level of
employment, economic activity and stability; and
WHEREAS, a public hearing to consider this Ordinance was held by the City Council on
October 28, 2003 and November 4, 2003;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS:
The City nominates the Bank One Project and the Pier I Project for enterprise project
status and the RadioShack Project for double jumbo enterprise project status.
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Local incentives are or will be made available to the nominated projects or activities of
the qualified businesses, as follows:
A. The following local incentives may be made available to the nominated projects
or activities of the qualified businesses that are located in any area of the City, regardless of
whether that area qualifies as an enterprise zone, on a case-by-case basis, taking into
consideration the merit of the nominated projects or activities of the qualified businesses:
(1) Tax abatement by the City on real and/or personal property in accordance
with Chapter 312 of the Texas Tax Code and the City's then-current Tax
Abatement Policy.
(2) Tax increment financing in accordance with Chapter 311 of the Texas Tax
Code.
(3) Freeport exemption in accordance with Chapter 11 of the Texas Tax Code.
(4) Economic development grants by the City in accordance with Chapter 380
of the Texas Local Government Code.
(5) Waiver of impact fees, release of City liens, expedited plan reviews and
other benefits granted by and subject to the City's Neighborhood
Empowerment Zone Policy.
(6) Standard participation by the City in the construction of public
infrastructure on or around the project or business site in accordance with
the City's then-current Policy for the Installation of Community Facilities.
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(7) Property tax exemption for historic structures and sites in accordance with
applicable laws and City ordinances.
(8) Support designation of the project or business site for inclusion in a
Foreign Trade Zone in accordance with applicable laws.
(9) Creation by the City of a public improvement district encompassing the
project or business site, in accordance with applicable laws.
B. In addition to the incentives set forth in Section 2.A above, the following local
incentives may be made available to the nominated projects or activities of the qualified
businesses that (i) are located in eligible enterprise zone areas; and (ii) are located in the
Central City, as depicted in the map attached hereto as Map "A", which is hereby made a
part of this Ordinance for all purposes; and (iii) make a new capital investment of at least
$75,000; and (iv) create at least ten (10) new Full-Time Jobs, with a "Full-time Job"
meaning one (1) individual employed in one (1) position for forty (40) hours per week or
such other number of hours per week that the business deems to be full-time in
accordance with its corporate-wide practices, which incentives shall be made on a case-
by-case basis, taking into consideration the merit of the nominated projects or activities
of the qualified businesses:
(1) Reduced City-charged development fees, including application fees.
(2) Waivers of City-charged permit fees, including inspection fees.
(3) Enhanced participation by the City in the construction of public
infrastructure on or around the project or business site in accordance with
the City's then-current Policy for the Installation of Community Facilities.
(4) Convey vacant, City-owned property located in the enterprise zone to the
business in accordance with applicable laws.
(5) Assistance with workforce development issues facing the business via
existing programs managed by the City or in which the City participates.
(6) Facilitation with public transportation providers for special transit issues
related to the project or business site.
SECTION 3.
REINVESTMENT ZONES.
The enterprise zone areas within the City are reinvestment zones in accordance with
Texas Tax Code, Chapter 3112,
SECTION 4.
[19911011-0
The City Council directs and designates its Business Development Coordinator within the
Department of Economic and Community Development as the City's liaison to communicate and
negotiate with the EDT through the Bank and enterprise project(s) and to oversee enterprise zone
activities and communications with qualified businesses and other entities in an enterprise zone
or affected by an enterprise project.
FINDINGS RELATED TO NOMINATED PROJECTS.
A. Pier I and RadioShack are each a "qualified business" under Section 2303.402 of
the Act since they will be engaged in the active conduct of a trade or business at a qualified
business site located in an enterprise zone in the City's jurisdiction and at least twenty-five
percent (25%) of the businesses' new and/or retained employees will be residents of an
enterprise zone or will be economically disadvantaged individuals. Bank One is a "qualified
business" under Section 2303.402 of the Act since it will be engaged in the active conduct of a
trade or business at a qualified business site within the City's jurisdiction, located outside of an
enterprise zone, and at least thirty-five percent (35%) of the business's new and/or retained
employees will be residents of an enterprise zone or will be economically disadvantaged
individuals.
B. There has been and will continue to be a high level of cooperation between
public, private and neighborhood entities in the Bank One Project area, the Pier I Project area
and the RadioShack Project area.
C. The designation of the Bank One Project and the Pier I Project as enterprise
projects and the RadioShack Project as a double jumbo enterprise Project will contribute
significantly to the achievement of the plans of the City for development and revitalization of the
Bank One Project area, the Pier I Project area and the RadioShack Project area.
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EFFECTIVENESS OF DESIGNATIONS.
The enterprise projects and double jumbo enterprise project hereunder shall take effect on
the date of their respective designation by EDT and terminate on the fifth anniversar-y thereafter.
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This Ordinance shall take effect and be in full force and effect from and after its
adoption.
AND IT IS SO ORDAINED.
By:
Peter Vaky (j--
Assistant City Attorney
Date: //- q-- 02
M&C: 0--/4/92
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SUBJECT: COUNCIL ACTION: Approved on 1114/2003 - Ordinance No. 15733
CONTINUED FROM A PREVIOUS WEEK
DATE: Tuesday, October 28, 2003
LOG NAME: 17EZ PROJECTS REFERENCE NO.: G-14137
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/\dODt an [>ndinaOC9 CODD8rAiOg the City of Fort Worth's PBdj[jpBtiQD in the Texas Enterprise ZODB
Program and Nominating Bank []D8-Ce|tFeDOrf' Pier 1'and RadinShaCk@8 Enterprise Projects
kis recommended that the City Council:
1. Hold a public hearing concerning the designation of allowable enterprise zone incentives; and
2. Adopt the attached ordinance, which meets the requirements and criteria of the Texas Enterprise
Zone Act; and
3. Find that the ordinance identifies all local incentives available in qualifying enterprise zone areas; and
4. Direct and designate the City's Business Development Coordinator to continue to act as liaison for
communication with the Office of the Governor Economic Development and Tourism (E�TD\tooversee
��nterphae��oneacbvidesand connrnunicgUonvvithqualified businesses; and ` '
5. Authorize the City Manager to submit the appropriate applications to ETD for designation of Bank One's
Checklarocessing Facility at Centerport Business Park and Pier 1's new corporate headquarters as
enterprise projects, andRodioGhaok'snevvcorporatecempueaaadoub|e enterprise project.
With a minimum investment of $75,000 and the creation of at least ten new full-time jobs, the following a
recommended as allowable local incentives based on the merit of proposed projects, on a case-by-ca
basis, that locate within eligible enterprise zone areas in the City's Central City area: I
• Reduced development fees (including all application fees); and
• Permit fee waivers (including inspection); and
• Enhanced participation in community facilities agreements for infrastructure; and
• Transfer of abandoned property to individuals or groups at below market rates; and
• Reduced investment requirements for consideration of tax abatement; and
• Assistance with workforce development (via the Fort Worth Works program); and
• Special transit provisions to connect areas not currently served by bus service.
Projects locating within eligible enterprise zone areas that are not in the City's Central City area may apply
for designation as a qualified business or as an enterprise project in order to receive state benefits. This
designation provides eligibility only for state benefits, and does not obligate the City to provide any
additional incentives.
FISCAL INFORMATION /CERTIFICATION:
The Finance Director certifies that this particular action will have no material effect on City funds.
TO Fund/Account/Centers FROM Fund/Account/Centers
Submitted for City Manager's Office by_ Reid Rector (6140)
Originating Department Head: Tom Higgins (6192)
Additional Information Contact: Ossana Hermosillo (8618)
Ardina Washington (8003)