HomeMy WebLinkAboutOrdinance 28042-09-2025Reallocatina Ordinance No. 28042-09-2025
AN ORDINANCE REALLOCATING ESTIMATED RECEIPTS AND APPROPRIATIONS IN
THE ECONOMIC DEVELOPMENT DEPARTMENT TAX INCREMENT REINVESTMENT
ZONE NUMBER TWO A (NO. 2A) - TEXAS MOTOR SPDWY FUND BY DECREASING
APPROPRIATIONS IN THE GENERAL OPERATING & MAINTENANCE CATEGORY IN
THE AMOUNT OF $1,500,000.00, AND INCREASING APPROPRIATIONS IN THE
TRANSFER & OTHER CATEGORY BY THE SAME AMOUNT, FOR THE PURPOSE OF
TRANSFERRING TO THE TAX INCREMENT REINVESTMENT ZONE - GENERAL
CAPITAL FUND FOR FUNDING TRAFFIC SIGNAL AND PEDESTRIAN
IMPROVEMENTS AT STATE HIGHWAY 114 AND CHAMPIONSHIP PARKWAY
PROJECT (CITY PROJECT NO. 105557); PROVIDING FOR A SEVERABILITY CLAUSE;
MAKING THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES; REPEALING ALL
ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS:
SECTION 1.
That the budget of the City of Fort Worth for Fiscal Year 2024-2025, as enacted by Ordinance 27107-09-
2024, as amended, is hereby further amended to make the following reallocations to the Economic
Development Department Tax Increment Reinvestment Zone Number Two A (No. 2A) - Texas Motor
Spdwy Fund by decreasing appropriations in the General Operating & Maintenance category in the amount
of $1,500,000.00, and increasing appropriations in the Transfer & Other category by the same amount, for
the purpose of transferring to the Tax Increment Reinvestment Zone - General Capital Fund for funding traffic
signal and pedestrian improvements at State Highway 114 and Championship Parkway project (City Project
No. 105557)
SECTION 2.
That should any portion, section or part of a section of this ordinance be declared invalid, inoperative or void
for any reason by a court of competent jurisdiction, such decision, opinion or judgment shall in no way impair
the remaining portions, sections, or parts of sections of this ordinance, which said remaining provisions shall
be and remain in full force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance 27107-09-2024, and all other ordinances and
appropriations amending the same except in those instances where the provisions of this ordinance are in
direct conflict with such other ordinances and appropriations, in which instance said conflicting provisions of
said prior ordinances and appropriations are hereby expressly repealed.
SECTION 4.
This ordinance shall take effect upon adoption.
APPROVED AS TO FORM AND LEGALITY:
Douglas Black (Oct 17, 2025 17:09:15 CDT)
Assistant City Attorney
ADOPTED AND EFFECTIVE: September 30, 2025
CITY SECRETARY
Jannette S. Goodall
City Secretary
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Resolution: TIF2-2024-02
Date: October 16, 2024
RESOLUTION
Board of Directors
Tax Increment Reinvestment Zone Number Two, City of Fort Worth, Texas
AUTHORIZING EXECUTION OFA TAX INCREMENT FINANCING (TIF)
DEVELOPMENT AGREEMENT BETWEEN THE BOARD OF DIRECTORS OF TAX
INCREMENT REINVESTMENT ZONE NUMBER TWO AND THE CITY OF FORT WORTH FOR
PUBLIC IMPROVEMENTS ASSOCIATED WITH TRAFFIC SIGNAL AND PEDESTRIAN
IMPROVEMENTS AT HIGHWAY II4 AND CHAMPIONSHIP PARKWAY
WHEREAS, the Board of Directors ("Board") of Tax Increment Reinvestment Zone Number Two,
City of Fort Worth, Texas ("TIF District") desires to promote the development and redevelopment of the
Speedway area as authorized by the Fort Worth City Council and state law;
WHEREAS, on December 19, 1995, the Board adopted a Project and Financing Plan ("Plan") for
the TIF District, which was approved by the City Council by ordinance and in accordance with Section
311.011 of the Texas Tax Code, and which was subsequently updated by the Board on October 15, 2002,
and approved by City Council on October 29, 2002;
WHEREAS, in accordance with Section 311.010 of the Texas Tax Code, the Board may use TIF
revenue only for the types and kinds of projects set forth in the Plan;
WHEREAS, the Plan identifies public improvements, such as traffic signal and pedestrian
improvements, that promote safety and business development within the TIF District as eligible expenses;
WHEREAS, a traffic signal warrant analysis conducted in June 2023 for the intersection of
Highway 114 and Championship Parkway identified multiple warrants for signal installation, including
Eight -Hour Vehicular Volume and Four -Hour Vehicular Volume, and TxDOT concurs with the installation
of new traffic signals;
WHEREAS, the current intersection is unprotected and non -signalized, with stop signs on
Championship Parkway but none on Highway 114, creating a safety concern for northbound and
southbound traffic with limited ADA-compliant access;
WHEREAS, the proposed improvements include dual through lanes and dual left turn lanes on
both the northbound and southbound sides of Championship Parkway, ADA-compliant sidewalks or ramps,
and pavement marking and signage;
WHEREAS, Denton County has agreed to fund the design of the project and approximately 50%
of the total project cost, with a total estimated budget of $4,000,000.00;
WHEREAS, the City has requested TIF support for traffic signal and pedestrian improvements,
with a construction completion date by January 31, 2028;
WHEREAS, the City of Fort Worth has requested an amount of up to $1,500,000.00 from the
Board to fund these public improvements; and
Page I of 2
Resolution: TI172-2024-02
Date: October 16, 2024
WHEREAS, the purpose of this Resolution is to authorize the Tax Increment Financing
Development Agreement ("Agreement") with the City of Fort Worth to oversee the design and construction
of the traffic signal and pedestrian improvements within the TIF #2 boundary.
NOW, THEREFORE, BE IT RESOLVED:
Section 1. That the Board authorizes the Agreement with the City of Fort Worth to fund or
reimburse the costs of the traffic signal and pedestrian improvements associated with the development at
Highway 114 and Championship Parkway in an amount not to exceed $1,500,000.00 in accordance with
the Recitals set forth above.
Section 2. That the Development will begin by January 31, 2025 and be completed no later than
January 1, 2028, with the option to allow the Chairperson of the Board to extend the deadline up to an
additional six (6) months if requested by the City of Fort Worth and if the Development is substantially
complete.
Section 3. That the Chairperson of the Board is authorized to sign this Resolution on the Board's
behalf and execute all necessary agreements and related documents in accordance with this Resolution.
Section 4. That this Resolution shall take effect immediately from and after its passage.
Approved: CJ 0
Alan Blaylock, hair
Page 2 of 2
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Data Source: CFW GIS, NearMap I Map generated November 2024
0 520 1,040 TPW Business Support Services
Copyright (0 2024 City of Fort Worth. Unauthorized reproduction is o violation of
applicuble laws. This data is to be use forgraphical representation only. The accuracy
is not to be taken/used as data produced for engineer ing pm poses or by a registered
■ Feet N professional land surveyor. The City of Fort Worth assumes no responsibility for the
�� ' accuracy of said data.
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 09/30/25 M&C FILE NUMBER: 25-0866 (REVISED)
LOG NAME: 20TIF 2 DEVELOPMENT AGREEMENT AT SH AND CHAMPIONSHIP PKWY-REV
SUBJECT
(CD 10) Authorize Execution of a Tax Increment Financing Development Agreement with the Board of Directors of Tax Increment Reinvestment
Zone Number Two, City of Fort Worth, Texas, in an Amount Up to $1,500,000.00 for Public Improvements Associated with Traffic Signals and
Pedestrian Improvements at State Highway 114 and Championship Parkway within the Boundaries of the Tax Increment Reinvestment Zone
Number Two and Adopt Appropriation Ordinance
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the execution of a Tax Increment Financing Development Agreement with the board of directors of Tax Increment Reinvestment
Zone Number Two, City of Fort Worth, Texas, in an amount up to $1,500,000.00 for public improvements associated with traffic signal and
pedestrian improvements at Highway 114 and Championship Parkway within the boundaries of the Tax Increment Reinvestment Zone
Number Two; and
2. Adopt the attached appropriation ordinance reallocating estimated receipts and appropriations in the Economic Development Department
Tax Increment Reinvestment Zone Number Two A (No. 2A) - Texas Motor Spdwy Fund by decreasing appropriations in the General
Operating & Maintenance category in the amount of $1,500,000.00, and increasing appropriations in the Transfer & Other category by the
same amount for the purpose of transferring to the Tax Increment Reinvestment Zone - General Capital Fund for funding traffic signal and
pedestrian improvements at State Highway 114 and Championship Parkway Project (City Project No. 105557) ; and
3. Amend the Transportation & Public Works Contribution to the Fiscal Years 2026-2030 Capital Improvement Program.
DISCUSSION:
On October 16, 2024, the Board of Directors for Tax Increment Reinvestment Zone (TIRZ) No. 2A — Texas Motor
Speedway (Speedway TIF) authorized execution of a Tax Increment Financing (TIF) Development Agreement with the City of Fort Worth for
intersection improvements at State Highway (SH) 114 and Championship Parkway (Resolution TIF2-2024-02). Approval of this Mayor and
Council Communication (M&C) and adoption of the appropriation ordinance authorizes the City to enter into that agreement and accept the funds.
The location of this SH114 and Championship Parkway Traffic Signal and Pedestrian Improvements project (City Project No. 105557) project is at
the intersection of SH 114 and Championship Pkwy. The scope of the project is to design and construct new traffic signals and new pedestrian
signals to provide a protected signalized intersection, reconfigure the existing travel lane layout to provide dual through lanes and dual left turn
lanes on northbound and southbound Championship Parkway, construct Americans with Disabilities Act (ADA) compliant sidewalks and ramps
and install new pavement markings and signage.
This project will be funded through a partnership with the City of Fort Worth, the Speedway TIF and Denton County. The $1,500,000.00 funding
discussed in this M&C is only a portion of the overall anticipated $5,000,000.00 budget for the project. The remaining funding for the project will be
provided by Denton County. The City will enter into an Interlocal Cooperation Agreement (ICA) with Denton County to memorialize the contributions
and establish roles and responsibilities for the project. It is anticipated that Denton County will procure and pay for design of the project
improvements and will coordinate with the Texas Department of Transportation (TXDOT) to advertise, bid, and award the construction contract for
the project. The City's $1,500,000.00 will be paid to Denton County or TxDOT for the construction effort.
Funding for this project was not included in the Fiscal Years 2026-2030 Capital Improvement Program due to the Development Agreement not
being completed in time to be incorporated into the Capital Improvement Program at the time of adoption. The action in the M&C will amend the
Fiscal Years 2026-2030 Capital Improvement Program as approved in connection with Ordinance 27979-09-2025.
This program is located in COUNCIL DISTRICT 10.
A Form 1295 is not required because: This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that funds are currently available in the General Operating & Maintenance category within the TIRZ #2A - Texas
Motor Spdwy Fund and upon approval of the above recommendations and adoption of the attached appropriation ordinance, funds will be
available in the Transfer & Other category within the TIRZ #2A - Texas Motor Spdwy Fund to support the approval of the above recommendations
and execution of the agreement. Prior to an expenditure being incurred, the Economic Development Department has the responsibility of verifying
the availability of funds.
Submitted for Citv Manaaer's Office bv: Jesica McEachern 5804
Oriainatina Business Unit Head: Lauren Prieur 6035
Additional Information Contact: Monty Hall 8662
Expedited