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HomeMy WebLinkAbout28120-11-2025 - City Council - OrdinanceORDINANCE NO. 28120-11-2025 AN ORDINANCE DESIGNATING A CERTAIN GEOGRAPHIC AREA WITHIN BOTH THE EXTRATERRITORIAL JURISDICTION AND CORPORATE LIMITS OF THE CITY OF FORT WORTH AS "TAX INCREMENT REINVESTMENT ZONE NUMBER EIGHTEEN, CITY OF FORT WORTH, TEXAS"; CREATING A BOARD OF DIRECTORS FOR THE ZONE; PROVIDING THE EFFECTIVE AND TERMINATION DATES FOR THE ZONE; ESTABLISHING A TAX INCREMENT FUND FOR THE ZONE; AND ORDAINING RELATED MATTERS. WHEREAS, the City Council desires to promote the development of land in that certain geographic area in the extraterritorial jurisdiction and corporate limits of the City of Fort Worth ("City") which is more specifically described in Exhibit "A" of this Ordinance (the "Zone") through the creation of a new reinvestment zone as authorized by and in accordance with the Tax Increment Financing Act, codified at Chapter 311 of the Texas Tax Code (the "Code"); WHEREAS, on October 21, 2025, the City Council of the City of Fort Worth, Texas ("City Council") adopted Resolution No. 6175-10-2025, setting a public hearing regarding creation of the proposed Zone, authorizing the giving of notice for such hearing, and directing preparation of a preliminary project plan and financing plan; WHEREAS, notice of the public hearing was published on October 24, 2025 in a newspaper of general circulation in the City and its extraterritorial jurisdiction, which notice satisfies the requirement of Section 311.003(c) of the Code that publication of the notice occur not later than the seventh day before the date of the public hearing; Page I Ordinance Designating Tax Increment Reinvestment Zone Number Eighteen, City of Fort Worth, Texas Ordinance No. 28120-11-2025 WHEREAS, the City has prepared preliminary project and financing plans for the proposed Zone as required by Section 311.003(b) of the Code (the "Preliminary Plans"); and WHEREAS, on November 11, 2025 the City Council held a public hearing regarding the creation of the Zone and its benefits to the City and to property in the Zone and afforded a reasonable opportunity for (i) all interested persons to speak for or against the creation of the Zone, its boundaries or the concept of tax increment financing and (ii) owners of real property in the proposed Zone to protest inclusion of their property in the Zone, as required by Sections 311.003(c) and (d) of the Code. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: Section 1. FINDINGS. That after reviewing all information before it regarding the establishment of the Zone and after conducting a public hearing regarding the creation of the Zone and its benefits to the City and to property in the Zone and affording a reasonable opportunity for (i) all interested persons to speak for or against the creation of the Zone, its boundaries or the concept of tax increment financing and (ii) owners of real property in the proposed Zone to protest inclusion of their property in the Zone, the City Council hereby makes the following findings of fact: Page 2 Ordinance Designating Tax Increment Reinvestment Zone Number Eighteen, Ordinance No. 28120-11-2025 City of Fort Worth, Texas 1.1. The statements and facts set forth in the recitals of this Ordinance are true and correct. Therefore, the City has met the notice and procedural requirements established by the Code for creation of a reinvestment zone under the Code. 1.2. The Zone consists of approximately 7,191.562 acres of land and the area within the Zone is contiguous. 1.3. The creation of the Zone and the improvements therein will significantly enhance the value of all of the taxable real property in the Zone and will be of general benefit to the City. 1.4. Taking all facts into consideration, the area within the Zone meets the qualifications to be designated as a reinvestment zone under Section 311.005(a)(2) of the Code because the area consists of predominantly open or undeveloped land and because factors such as inadequate street layout and lack of public water distribution, wastewater collection and storm drainage facilities substantially impair and arrest the sound growth of the City. 1.5. Based on the facts set forth in Sections 1.3 and 1.4 hereof, as well as on all other information provided to and/or known by the City Council with respect to the area within the proposed Zone and the area in the vicinity of the Zone, the City Council hereby finds that development of the Zone will not occur solely through private investment in the foreseeable future. 1.6. The Zone is in a geographic area located wholly within the City's extraterritorial jurisdiction and corporate limits. 1.7. No more than thirty percent (30%) of the property in the Zone is used currently for residential purposes, as specified by Section 311.006 of the Code. Page 3 Ordinance Designating Tax Increment Reinvestment Zone Number Eighteen, Ordinance No. 28120-11-2025 City of Fort Worth, Texas 1.8. According to the most recent appraisal roll of the City, the total appraised value of all taxable real property in the proposed Zone and in existing reinvestment zones in the City does not exceed twenty-five percent (25%) of the total appraised value of taxable real property in the City and in industrial districts created by the City, if any as specified by Section 311.006 of the Code. Section 2. DESIGNATION OF NEW ZONE. That the City Council hereby designates the Zone described in the boundary description and depicted in the map, both attached hereto as Exhibit "A" and made a part of this Ordinance for all purposes, as a reinvestment zone pursuant to and in accordance with the Code. This reinvestment zone shall be known as "Tax Increment Reinvestment Zone Number Eighteen, City of Fort Worth, Texas." Section 3. ZONE BOARD OF DIRECTORS. That aboard of directors for the Zone ("Board") is hereby created. The Board shall consist of between five (5) and seven (7) members as further determined herein, each of whom shall be appointed in accordance with the immediately following paragraph and shall serve for terms of two (2) years each. The board shall consist of five (5) members if other taxing units have not elected to dedicate a percentage of their tax increment to the TIF Fund (as defined below) pursuant to an agreement with the City authorized by Section 311.013(f). If Tarrant County elects to dedicate a percentage of its tax increment to the Page 4 Ordinance Designating Tax Increment Reinvestment Zone Number Eighteen, Ordinance No. 28120-11-2025 City of Fort Worth, Texas TIF Fund pursuant to an agreement with the City authorized by Section 311.013(f), an additional member shall be added to the board. If Parker County elects to dedicate a percentage of its tax increment to the TIF Fund pursuant to an agreement with the City authorized by Section 311.013(f), an additional member shall be added to the board. Appointments to the board shall be handled in accordance with this paragraph. Each taxing unit other than the City that has approved the payment of all or part of the tax increment produced by the unit into the TIF Fund may, but is not required to, appoint one (1) member to the Board. After each participating taxing unit other than the City designates to the City either the name of the member that the taxing unit wishes to appoint or the fact that the taxing unit wishes to waive its right to appoint a member, the City Council shall appoint whatever number of members are necessary to fill the remaining positions on the Board. City appointees may be members of the City Council. Section 4. TERM OF ZONE. The Zone takes effect immediately upon the adoption of this Ordinance and terminates on the earlier of (i) distribution of taxes attributable to and collected for the tax year ending on December 31, 2107 or an earlier termination date designated by an ordinance adopted after the effective date of this Ordinance or (ii) the date on which all project costs, tax increment bonds and interest on those bonds have been paid or otherwise satisfied in full. Revenue from the Zone will be collected and deposited for up to eighty- two (82) tax years with collections that extend beyond the final tax year being solely dedicated to winding down the Zone. Page 5 Ordinance Designating Tax Increment Reinvestment Zone Number Eighteen, Ordinance No. 28120-11-2025 City of Fort Worth, Texas Section 5. DETERMINATION OF TAX INCREMENT BASE. That the tax increment base for the Zone, as defined by Section 311.012(c) of the Code, shall be the total appraised value of all real property in the Zone taxable by a taxing unit as of January 1, 2025, which is the year in which the Zone was designated as a reinvestment zone. Section 6. TAX INCREMENT FUND. That a tax increment fund for the Zone (the "TIF Fund") is hereby established. The TIF Fund may be divided into additional accounts and sub -accounts authorized by resolution or ordinance of the City Council. The TIF Fund shall consist of (i) the percentage of the tax increment, as defined by Section 311.012(a) of the Code, that each taxing unit which levies real property taxes in the Zone, other than the City, has elected to dedicate to the TIF Fund pursuant to an agreement with the City authorized by Section 311.013(f) of the Code, plus (ii) the City's Contribution as detailed below, provided, however, that contributions for any parcel shall be made for no more than thirty consecutive years. For purposes of this Section, "City Contribution" shall mean one of the following — (i) fifty percent (50%) of the City's tax increment, as defined by Section 311.012(a) of the Code, if other taxing units have not elected to dedicate a percentage of their tax increment to the TIF Fund pursuant to an agreement with the City authorized by Section 311.013(f); or (ii) sixty-five percent (65%) of the City's tax increment, as defined by Page 6 Ordinance Designating Tax Increment Reinvestment Zone Number Eighteen, Ordinance No. 28120-11-2025 City of Fort Worth, Texas Section 311.012(a) of the Code, in the event that both Parker County and Tarrant County have each elected to dedicate at least fifty percent (50%) of their respective tax increment to the TIF Fund pursuant to an agreement with the City authorized by Section 311.013(f). The TIF Fund shall be maintained in an account at the depository bank of the City and shall be secured in the manner prescribed by law for Texas cities. Revenues in the TIF Fund will be used solely in accordance with Section 311.014 of the Code. Section 7. TAX INCREMENT AGREEMENTS. That, pursuant to Sections 311.008 and 311.013 of the Code, the City Manager and City Attorney are hereby authorized to execute and deliver, for and on behalf of the City, tax increment agreements with taxing units that levy real property taxes in the Zone. Section 8. SEVERABILITY. That if any portion, section or part of a section of this Ordinance is subsequently declared invalid, inoperative or void for any reason by a court of competent jurisdiction, the remaining portions, sections or parts of sections of this Ordinance shall be and remain in full force and effect and shall not in any way be impaired or affected by such decision, opinion or judgment. Page 7 Ordinance Designating Tax Increment Reinvestment Zone Number Eighteen, Ordinance No. 28120-11-2025 City of Fort Worth, Texas Section 9. IMMEDIATE EFFECT. That this Ordinance shall take effect and be in full force and effect from and after its adoption. AND IT IS SO ORDAINED. ADOPTED AND EFFECTIVE: APPROVED AS TO FORM AND LEGALITY By: - Thomas R. Hansen Senior Assistant City Attorney M&C: 25-1057 ADOPTED AND EFFECTIVE: November 11, 2025 ATTEST: By: Jannette S. Goodall, City Secretary irroror nn 000000 ��aa �Ay Pd°O,� A Oo vaO 0 id 0 °° C9 OO00000aO Ay 1<7 a4 -OLEXASoA Page 8 Ordinance Designating Tax Increment Reinvestment Zone Number Eighteen, Ordinance No. 28120-11-2025 City of Fort Worth, Texas EXHIBIT "A" DESCRIPTION AND DEPICTION OF THE ZONE The tracts to be designated as Tax Increment Reinvestment Zone Number Eighteen, City of Fort Worth, Texas for tax increment financing purposes are depicted in the accompanying map and are more particularly described by the following metes and bounds: METES AND BOUNDS DESCRIPTION OF THE ZONE (Approximately 7,191.562 acres) Being a 7,945.98 acre tract of land situated in G.E. and A.H. Tandy Survey, Abstract No. 2355; G.E. and A.H. Tandy Survey, Abstract No. 2356; International & Great Northern RR Company Survey, Abstract No. 1808; International & Great Northern RR Company Survey, Abstract No. 1995; International & Great Northern RR Company Survey, Abstract No. 1996; International & Great Northern RR Company Survey, Abstract No. 2002; International & Great Northern RR Company Survey, Abstract No. 2004; International & Great Northern RR Company Survey, Abstract No. 2224; Heirs of C.H. Higbee Survey, Abstract No. 2740; M.C. Moulton Survey, Abstract No. 933; M.C. Moulton Survey, Abstract No. 934; J.W.M. Rider Survey, Abstract No. 1120; C.B. Rider Survey, Abstract No. 1121; Horatio Chrisman Survey, Abstract No. 284; Edward Dean Survey, Abstract No. 354; Texas and Pacific Railway Company Survey, Abstract No. 1509; H.J. Thompson Survey, Abstract No. 2434; Houston Tap & Brazoria Railroad Company Survey, Abstract No. 647; Houston Tap & Brazoria Railroad Company Survey, Abstract No. 648; Houston Tap & Brazoria Railroad Company Survey, Abstract No. 651; Houston Tap & Brazoria Railroad Company Survey, Abstract No. 654; J.G. Wood Survey, Abstract No. 1961; Heirs of Higbee & Hildreth Survey, Abstract No. 2721 and William Robinson Survey, Abstract No. 1107; Jonathan Burleson Survey, Abstract No. 29: J.D. Kyle Survey, Abstract No. 792; Calvin Jackson Survey, Abstract No. 754; J.D. Morris Survey, Abstract No. 927, Parker County, Texas, also being situated in William Robinson Survey, Abstract No. 1274; Henry Lane Survey, Abstract No. 928; San Antonio and Mexican Gulf Railroad Company Survey, Abstract No. 1479; Jonathan Burleson Survey, Abstract No. 78, Tarrant County, Texas, said 7,945.98 acre tract of land being more particularly described as follows: Beginning at point for corner on the east right-of-way line of FM 3325 and a point on the common north line of Walsh Ranches, Limited Partnership tract, as recorded in Volume 1699, Page 1765, Deed Records of Parker County, Texas (D.R.P.C.T.) and the south line of a called 129.769 acre tract of land described in deed to Geo Beggs Aledo Ranch, LP, as recorded in Document No. 202043651, Official Public Records of Parker County, Texas (O.P.R.P.C.T.), said POINT OF BEGINNING being locatable by NAD83 Grid Coordinate N:6,952,772.72, E:2,245,254.10; Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, City of Fort Worth, Texas THENCE North 89 degrees 18 minutes 47 seconds East, departing the east right-of- way line of said FM 3325, along said common line, a distance of 5,228.36 feet to the southeast corner of said Beggs tract; THENCE North 00 degrees 33 minutes 20 seconds West, departing said south line and along east line a distance of 2,038.95 feet to a point in the north line of said Beggs tract; THENCE North 89 degrees 27 minutes 30 seconds East, departing said east line a distance of 578.97 feet to a point for corner; THENCE North 01 degree 12 minutes 51 seconds West a distance of 440.80 feet to a point for the beginning of a non -tangent curve to the left, having a radius of 570.00 feet, a central angle of 54 degrees 15 minutes 47 seconds and a chord bearing of North 37 degrees 36 minutes 10 seconds East, a distance of 519.88 feet; THENCE Northeasterly, along said non -tangent curve to the left, an arc length of 539.83 feet to the end of said curve; THENCE North 25 degrees 08 minutes 36 seconds East a distance of 81.33 feet to a point for corner; THENCE North 01 degrees 12 minutes 46 seconds West a distance of 604.77 feet to a point for corner; THENCE North 48 degrees 34 minutes 26 seconds East, a distance of 56.54 feet to a point for the beginning of a non -tangent curve to the right, having a radius of 523.80 feet, a central angle of 47 degrees 59 minutes 46 seconds and a chord bearing of North 20 degrees 54 minutes 38 seconds West, a distance of 426.06 feet; Thence Northwesterly, along said non -tangent curve to the right, an arc distance of 438.78 feet to the end of said curve; THENCE North 00 degrees 00 minutes 05 seconds East a distance of 2,877.78 feet to a point for corner; THENCE North 00 degrees 16 minutes 13 seconds West a distance of 2,567.56 feet to a point for corner; THENCE North 49 degrees 36 minutes 44 seconds West a distance of 183.30 feet to a point for corner; THENCE North 71 degrees 51 minutes 34 seconds West a distance of 1,261.99 feet to a point for corner; THENCE North 33 degrees 34 minutes 00 seconds West a distance of 284.02 feet to a point for corner; Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, City of Fort Worth, Texas THENCE North 50 degrees 15 minutes 59 seconds West a distance of 248.04 feet to a point for corner; THENCE North 17 degrees 24 minutes 03 seconds East a distance of 1,972.89 feet to a point for corner; THENCE North 88 degrees 28 minutes 01 seconds East a distance of 1,055.43 feet to a point for corner; THENCE North 00 degrees 58 minutes 37 seconds West a distance of 1,250.17 feet to a point for corner; THENCE North 80 degrees 52 minutes 27 seconds East a distance of 3,755.46 feet to a point for corner; THENCE South 00 degrees 44 minutes 21 seconds East a distance of 1,386.56 feet to a point for corner; THENCE North 89 degrees 37 minutes 59 seconds East a distance of 135.66 feet to a point for corner; THENCE South 18 degrees 37 minutes 38 seconds West a distance of 3,482.53 feet to a point for corner; THENCE South 00 degrees 39 minutes 31 seconds East a distance of 4,662.20 feet to a point for corner; THENCE North 89 degrees 00 minutes 23 seconds East a distance of 2,082.80 feet to a point for corner; THENCE South 40 degrees 02 minutes 20 seconds East a distance of 383.71 feet to a point for corner; THENCE South 52 degrees 50 minutes 48. seconds East a distance of 318.45 feet to a point for corner; THENCE South 54 degrees 51 minutes 37 seconds East a distance of 186.29 feet to a point for corner; THENCE South 61 degrees 16 minutes 25 seconds East a distance of 360.79 feet to a point for corner; THENCE South 24 degrees 50 minutes 49 seconds East a distance of 883.61 feet to a point for corner; Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, City of Fort Worth, Texas THENCE South 56 degrees 50 minutes 23 seconds East a distance of 24.09 feet to a point for corner; THENCE South 50 degrees 20 minutes 18 seconds East a distance of 432.17 feet to a point for corner; THENCE South 04 degrees 27 minutes 20 seconds East a distance of 370.84 feet to a point for corner; THENCE North 79 degrees 33 minutes 17 seconds East a distance of 616.49 feet to a point for corner; THENCE South 01 degrees 07 minutes 50 seconds East a distance of 198.33 feet to a point for corner; THENCE South 89 degrees 03 minutes 28 seconds West a distance of 1,044.26 feet to a point for corner; THENCE South 00 degrees 46 minutes 45 seconds East along a west line of a called Brown tract, a distance of 2,759.51 feet to a point for corner in a south line of said Brown tract; THENCE North 89 degrees 27 minutes 36 seconds East, along said south line a distance of 3,530.28 feet to a point in a west line of said Brown tract; THENCE South 00 degrees 42 minutes 57 seconds East, along said west line a distance of 1,251.92 feet to a point for corner; THENCE North 89 degrees 49 minutes 04 seconds East, departing said west line a distance of 3,383.35 feet to a point for corner; THENCE South 00 degrees 43 minutes 26 seconds West a distance of 333.57 feet to a point for corner; THENCE South 01 degrees 37 minutes 09 seconds West a distance of 733.28 feet to a point for corner; THENCE South 02 degrees 04 minutes 20 seconds West a distance of 201.06 feet to a point for corner; THENCE South 00 degrees 22 minutes 29 seconds West a distance of 93.51 feet to a point for corner; THENCE South 01 degrees 07 minutes 35 seconds West a distance of 302.94 feet to a point for corner; Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, City of Fort Worth, Texas THENCE South 01 degrees 20 minutes 19 seconds West a distance of 201.45 feet to a point for corner; THENCE South 00 degrees 58 minutes 48 seconds West a distance of 550.35 feet to a point for corner; THENCE South 00 degrees 36 minutes 23 seconds West a distance of 352.74 feet to a point for corner; THENCE South 00 degrees 29 minutes 26 seconds East a distance of 890.28 feet to a point for corner; THENCE South 00 degrees 53 minutes 51 seconds East a distance of 98.37 feet to a point for corner; THENCE South 00 degrees 16 minutes 57 seconds West a distance of 806.86 feet to a point in the north right -of way of IH 30; THENCE along the north right-of-way line of said IH 30 the following courses and distances: South 83 degrees 52 minutes 23 seconds West a distance of 88.28 feet; South 89 degrees 34 minutes 23 seconds West a distance of 700.00 feet; North 76 degrees 23 minutes 37 seconds West a distance of 103.08 feet; South 75 degrees 32 minutes 23 seconds West a distance of 103.08 feet; South 89 degrees 34 minutes 23 seconds West a distance of 500.00 feet; North 81 degrees 53 minutes 37 seconds West a distance of 101.12 feet; South 89 degrees 34 minutes 23 seconds West a distance of 900.00 feet; South 81 degrees 02 minutes 23 seconds West a distance of 101.12 feet; South 89 degrees 34 minutes 05 seconds West a distance of 805.25 feet to a 5/8-inch iron rod with yellow cap stamped "DUNAWAY ASSOC LP seconds (hereinafter referred to as 5/8-inch YCIR); THENCE South 01 degrees 18 minutes 36 seconds East, leaving the north right-of- way of said IH 30, a distance of 415.23 feet to a point in the south right-of-way of IH 30, same being in the west line of the called Nazarian tract; THENCE South 00 degrees 13 minutes 59 seconds East, departing the south right-of- way line of said IH 30 and along said west line a distance of 4,211.00 feet to a point in the south line of said Nazarian tract; THENCE South 89 degrees 45 minutes 11 seconds East, leaving said west line and along said south line a distance of 3,344.49 feet to a point in the east line of said Nazarian tract; THENCE North 00 degrees 04 minutes 29 seconds West, leaving said south line and along said east line a distance of 827.60 feet to a point for corner; Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, City of Fort Worth, Texas THENCE South 89 degrees 57 minutes 27 seconds East a distance of 2,666.03 feet to a point in the west line of a called Lost Creek tract; THENCE South 00 degrees 10 minutes 01 seconds West, leaving said south line and along said west line a distance of 2,263.89 feet to a point in the south line of said Lost Creek; THENCE South 89 degrees 38 minutes 07 seconds East, leaving said west line and along said south line a distance of 2,642.60 feet to a point in the west line of a called Murrin tract; THENCE South 00 degrees 08 minutes 37 seconds West a distance of 3,309.95 feet along said west line to a TXDOT monument in the north right-of-way of said IH 20; THENCE South 85 degrees 30 minutes 24 seconds West, departing the north right- of-way line of said IH 20, across said IH 20 a distance of 2,693.60 feet to a found rebar in the southwesterly right-of-way of said IH 20, same being a corner on the east line of said Walsh Ranches tract, said corner being the northwest corner of a tract (Tract 2) of land, as described in deed to Dry Ranch, LLC, as recorded in Document Number D217210159, Official Public Records of Tarrant County, Texas (O.P.R.T.C.T.); THENCE South 00 degrees 00 minutes 24 seconds West, departing said southwesterly right-of-way line, along the east line of said Walsh Ranches tract and the west line of said Tract 2, passing a found 1/2-inch iron rod for the southwest corner of said Tract 2 at a distance of 316.95 feet, continuing along east line of said Walsh Ranches tract and the west line of a called 100.6611 acre tract recorded in deed to Markum Land Properties, LLC, as recorded in Document Number D217100297, O.P.R.T.C.T., a called 5.146 acre tract of land described in deed to City of Fort Worth, as recorded in Document Number D221015413, O.P.R.T.C.T., a called 51.4720 acre tract recorded in deed to Markum Land Properties, LLC, as recorded in Document Number D217100297, O.P.R.T.C.T., tract (Tract 3) of land, as described in deed to Dry Ranch, LLC, as recorded in Document Number D217210159, O.P.R.T.C.T., a total distance of 5,288.60 feet to a found 1/2-inch iron rod in concrete for the southeast corner of said Walsh Ranches tract and the southwest corner of said Dry Ranch Tract 3, said corner being on the north right-of-way line Aledo Road (variable width); THENCE North 77 degrees 49 minutes 14 seconds West, departing the east line of said Walsh Ranches tract and the west line of said Dry Ranch Tract 3, along said north right-of-way line, a distance of 212.02 feet to a point for corner; THENCE North 80 degrees 34 minutes 42 seconds West, along said north right-of- way line, a distance of 2,044.40 feet to a point for corner; THENCE North 82 degrees 39 minutes 11 seconds West, along said north right-of- way line, a distance of 562.68 feet to a point for corner; Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, City of Fort Worth, Texas THENCE South 71 degrees 00 minutes 49 seconds West, along said north right-of- way line, a distance of 77.68 feet to a point for corner for an angle point on the north right-of-way line of the Union Pacific Railroad (variable width); THENCE North 80 degrees 25 minutes 53 seconds West, along said north right-of- way line, a distance of 280.87 feet to a point for corner for the southeast corner of tract (Tract 3) of land, as described in deed to Union Pacific Railroad, as recorded in Document Number 201910086, D.R.P.C.T; THENCE North 09 degrees 32 minutes 09 seconds East, along the east line of said Union Pacific Tract 3, a distance of 10.00 feet to a point for corner for northeast corner of said Union Pacific Tract 3; THENCE North 80 degrees 25 minutes 53 seconds West, along the north line of said Union Pacific Tract 3, a distance of 151.37 feet to a set 5/8-inch YCIR for the beginning of a circular curve to the left, having a radius of 3,905.33 feet and whose chord bears North 82 degrees 18 minutes 05 seconds West, a distance of 254.85 feet; THENCE Northwest, along said north line and said curve to the left, through a central angle of 03 degrees 44 minutes 23 seconds, an arc distance of 254.90 feet to a point for corner for the northwest corner of said Union Pacific Tract 3; THENCE South 05 degrees 49 minutes 36 seconds West, along the west line of said Union Pacific Tract 3, a distance of 10.00 feet to a point for corner for the southwest corner of said Union Pacific Tract 3, said corner being on the north right-of-way line of said Union Pacific Railroad, said corner being on a circular curve to the left, having a radius of 3,895.33 feet and whose chord bears North 89 degrees 59 minutes 35 seconds West, a distance of 790.25 feet; THENCE Northwest, along said north right-of-way line and said curve to the left, through a central angle of 11 degrees 38 minutes 37 seconds, an arc distance of 791.61 feet to a point for corner for the end of said curve; THENCE South 84 degrees 11 minutes 07 seconds West, along said north right-of- way line, a distance of 3,433.02 feet to a found concrete monument (disturbed); THENCE North 04 degrees 25 minutes 44 seconds West, along said north right-of- way line, a distance of 24.96 feet to a point for corner; THENCE South 84 degrees 11 minutes 05 seconds West, along said north right-of- way line, a distance of 1,493.62 feet to a point for corner in the north line of Tract 2 of said Union Pacific Railroad deed (Document Number 201910086); THENCE North 05 degrees 46 minutes 57 seconds West, along the east line of said Union Pacific Tract 2, a distance of 25.00 feet to a point for corner for northeast Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, City of Fort Worth, Texas corner of said Union Pacific Tract 2; THENCE South 84 degrees 11 minutes 05 seconds West, along the north line of said Union Pacific Tract 2, a distance of 577.77 feet to a set 5/8-inch YCIR for the for the beginning of a circular curve to the left, having a radius of 2,105.00 feet and whose chord bears South 81 degrees 00 minutes 37 seconds West, a distance of 235.02 feet; THENCE Southwest, along said north line and said curve to the left, through a central angle of 06 degrees 24 minutes 01 second, an arc distance of 235.14 feet to a point for corner for the northwest corner of said Union Pacific Tract 2; THENCE South 12 degrees 11 minutes 23 seconds East, along the west line of said Union Pacific Tract 2, a distance of 25.00 feet to a point for corner for the southwest corner of said Union Pacific Tract 2, said corner being on the north right-of-way line of said Union Pacific Railroad, said corner being on a circular curve to the left, having a radius of 2,080.00 feet and whose chord bears South 67 degrees 29 minutes 25 seconds West, a distance of 744.10 feet; THENCE Southwest, along said north right-of-way line and said curve to the left, through a central angle of 20 degrees 36 minutes 29 seconds, an arc distance of 748.13 feet to a point for corner for the end of said curve; THENCE South 57 degrees 09 minutes 11 seconds West, along said north right-of- way line, a distance of 913.24 feet to a point for corner in the north line of Tract 1 of said Union Pacific Railroad deed (Document Number 201910086); THENCE North 32 degrees 47 minutes 47 seconds West, along the east line of said Union Pacific Tract 1, a distance of 25.00 feet to a point for northeast corner of said Union Pacific Tract 1; THENCE North 57 degrees 09 minutes 11 seconds West, along the north line of said Union Pacific Tract 1, a distance of 434.92 feet to a point for corner for the northeast corner of said Union Pacific Tract 1; THENCE South 32 degrees 47 minutes 47 seconds East, along the west line of said Union Pacific Tract 1, a distance of 25.00 feet to a point for the southwest corner of said Union Pacific Tract 1, said corner being on the north right-of-way line of said Union Pacific Railroad; THENCE South 57 degrees 09 minutes 11 seconds West, along said north right-of- way line, a distance of 1,080.46 feet to a found car axle for the southwest corner of said Walsh Ranches tract and the southeast corner of Parcel 6, as described in Memorandum of Right-of-way Agreement, as recorded in Volume 1441, Page 441, D.R.P.C.T., said corner being on the north right-of-way line of Union Pacific Railroad (variable width); Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, City of Fort Worth, Texas THENCE North 00 degrees 13 minutes 49 seconds West, along the west line of said Walsh Ranches Tract a distance of 14,822.79 feet to a point for corner; THENCE South 79 degrees 04 minutes 27 seconds West a distance of 833.50 feet to a point for corner; THENCE North 69 degrees 10 minutes 38 seconds West a distance of 2,000.41 feet to a point for corner; THENCE North 89 degrees 55 minutes 38 seconds West a distance of 2,536.63 feet to a point for corner; THENCE North 86 degrees 25 minutes 38 seconds West a distance of 950.20 feet to a point for corner; THENCE South 65 degrees 49 minutes 22 seconds West a distance of 197.30 feet to a point for corner; THENCE North 01 degrees 33 minutes 29 seconds West a distance of 1266.94 feet to a point for corner; THENCE North 88 degrees 26 minutes 21 seconds East a distance of 310.01 feet to a point for corner; THENCE North 01 degrees 33 minutes 36 seconds West a distance of 560.00 feet to a point for corner; THENCE South 88 degrees 26 minutes 28 seconds West a distance of 309.99 feet to a point for corner; THENCE North 01 degrees 33 minutes 29 seconds West a distance of 1423.94 feet to a point on the south right of way line of said IH 20; THENCE North 00 degrees 52 minutes 55 seconds West, departing the south right- of-way line of said IH 20, across said IH 20, a distance of 402.23 feet to the southeast corner of Parcel 2, as recorded in Volume 1441, Page 400 D.R.P.C.T., said corner being on the north right-of-way line of said IH 20; THENCE North 02 degrees 13 minutes 26 seconds West, along the east line of said Parcel 2, departing the north right-of-way line of said IH 20, a distance of 402.51 feet to a corner on the north line of said Parcel 2, said corner being the northeast corner of Parcel 2; THENCE South 89 degrees 41 minutes 04 seconds West, departing the east line of said Parcel 2 and along the north line of said Parcel 2 a distance of 1190.21 feet to a 1-inch iron rod for a corner, said corner being in the north right -of way -line of said Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, City of Fort Worth, Texas IH 20; THENCE North 71 degrees 48 minutes 55 seconds West, along the north right-of-way line of said IH 20, a distance of 73.35 feet to a found 5/8-inch YCIR for the beginning of a curve to the left having a radius of 2,893.79 feet, a central angle of 18 degrees 00 minutes 45 seconds and a chord bearing of North 80 degrees 32 minutes 02 seconds West, a distance of 906.01 feet; THENCE Northwesterly along said north right-of-way line and said curve to the left, an arc length of 909.75 feet to a found TxDOT monument for the end of said curve; THENCE North 50 degrees 36 minutes 24 seconds West, departing the north right- of-way line of said IH 20, along the east right-of-way of said FM 3325, a distance of 117.42 feet to a found TxDot monument for corner; THENCE North 00 degrees 41 minutes 43 seconds West, continuing along said east right-of-way line, a distance of 370.73 feet to a found 5/8-inch YCIR for the beginning of a curve to the left having a radius of 11,519.16 feet, a central angle of 01 degrees 44 minutes 03 seconds and a chord bearing North 01 degrees 33 minutes 45 seconds West, a distance of 348.64 feet; THENCE Northwesterly continuing along said east right-of-way line and said curve to the left an arc length of 348.65 feet to a found TxDOT monument for the end of said curve; THENCE continuing along the east right-of-way of said FM 3325 the following courses and distances: THENCE North 02 degrees 25 minutes 46 seconds West, a distance of 240.91 feet to a found railroad spike in base of tree for corner; THENCE North 02 degrees 25 minutes 46 seconds West, a distance of 138.55 feet to a found TxDOT monument for corner; THENCE North 04 degrees 41 minutes 44 seconds East, a distance of 201.56 feet to a point for corner; THENCE North 02 degrees 25 minutes 46 seconds West, a distance of 200.00 feet to a found TxDOT monument for corner; THENCE North 16 degrees degree 27 minutes 57 seconds West, a distance of 103.08 feet to a found TxDOT monument for corner; THENCE North 02 degrees 25 minutes 46 seconds West, a distance of 21.55 feet to a point for the beginning of a curve to the right having a radius of 11,399.09 feet, a central angle of 01 degrees 22 minutes 14 seconds and a chord bearing North 01 Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, City of Fort Worth, Texas degrees 44 minutes 39 seconds West, a distance of 272.67 feet; THENCE Northwesterly continuing along said curve to the right an arc length of 272.68 feet to a found TxDOT monument for corner for the end of said curve; THENCE North 01 degrees 03 minutes 32 seconds West, a distance of 104.36 feet to a found TxDOT monument for corner; THENCE North 04 degrees 39 minutes 06 seconds East, a distance of 100.50 feet to a point for corner, from which a found TxDOT monument bears North 89 degrees 40 minutes 40 seconds West, a distance of 2.76 feet; THENCE North 10 degrees 15 minutes 03 seconds East, a distance of 101.98 feet to a point for corner; THENCE North 01 degrees 03 minutes 32 seconds West, a distance of 100.00 feet to a point for corner; THENCE North 06 degrees 46 minutes 11 seconds West, a distance of 100.50 feet to a found TxDOT monument for corner; THENCE North 01 degrees 03 minutes 32 seconds West, a distance of 100.00 feet to a found TxDOT monument for corner; THENCE North 06 degrees 46 minutes 11 seconds West, a distance of 100.50 feet to a found TxDOT monument for corner; THENCE North 01 degrees 03 minutes 32 seconds West, a distance of 100.00 feet to a found TxDOT monument for corner; THENCE North 06 degrees 46 minutes 11 seconds West, a distance of 100.50 feet to a found TxDOT monument for corner; THENCE North 01 degrees 03 minutes 32 seconds West, a distance of 122.14 feet to the POINT OF BEGINNING and containing 7,945.98 acres or 346,126,933 square feet of land more or less. Save and Except the following 754.418 acres more or less: Approximately 3.97 acres of land described in a deed recorded in Volume 1841, Page 1266,D.R.P.C.T. Approximately 1.52 acres of land described in a deed recorded in Document Number D201729900, D.R.P.C.T. Approximately 23.535 acres of land described in a deed recorded in Volume 2507, Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, City of Fort Worth, Texas Page 290, D.R.P.C.T. Approximately 268.47 acres of land described in a deed recorded in Document Number 201607571, O.P.R.T.C.T Approximately 182.393 acres of land described in a deed recorded in Document Number D201815085, O.P.R.T.C.T. Approximately 60.07 acres of land described in a deed recorded in Document Number D202125716, O.P.R.P.C.T. Approximately 155.03 acres of land described in a deed recorded in Document Number D202148529, O.P.R.P.C.T. Approximately 34.548 acres of land described in a deed recorded in Document Number D202148423, O.P.R.P.C.T. Approximately 2.0 acres of land described in a deed recorded in Volume 2438, Page 899, D.R.P.C.T. Approximately 1.522 acres of land described in a deed recorded in Document Number D202148528, O.P.R.P.C.T. Approximately 21.36 acres of land described in a deed recorded in Document Number D202426157, O.P.R.P.C.T. For a net acreage of 7,191.562 acres more or less. Note: This note serves to clarify that the property boundary depicted in the provided exhibit and description for the subject property was prepared based solely on prior records, including but not limited to deeds, plats, and other available documentation. This depiction does not constitute a formal boundary survey. No fieldwork, measurements, or on -site investigations were conducted to verify the accuracy of these boundaries. Bearings are based on Texas State Coordinate System. Distances shown hereon are surface values using a combined scale factor of 0.99984462415 Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, City of Fort Worth, Texas Mw e voL 2 B. �w B£GGS ��PO/NT QF RANCH B£pNN/N� 04 CV re + M, LL LL MOM S11YE CFPT vCL 2$07 , PC 290-/ 550BdMyAve009 • S019900. W WONh.] Te4:B17.535.1,21 CM— F+M" nim su 0 4000' SCALE FEET 1'— 4000' _ 4E k EXCEPT owtemsn \ nn_ D20242 157 moro x D202140728 PareN 1 WASTE MANAGEMENT � IH3�= _ \ \ NAZARIAN TRACT ,E5$ � QQ 12V1 cc awsn LOST CREEK TRACT TRACT P MURRIN DEAN TRACT \�� RANCH 00 —� t1 t� wz g 9 Y Q Q d 6 ~ aj - MARKUM RANCH U LEDrj R`D WALE . i610T RANCH EXHIBIT 'A' r7 Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, City of Fort Worth, Texas TENAS AND PACIFIC BE LIAI GO SUP A- RESEARD DEAN OFF C 2 P DER R ITEPIRS TONAL AN CHRIFSMAN SUR GR f R CO A 04 -1508 J F JN FIDE 20SlIR HEIRS OF i MAS HAMILTON SUP A MORE 92T A-560 BROWN TRACT M C DULLTDN SDR CALNN JAZAS SUR SAVE & EXCEPT JD KITE VOL 2438, PG 899 - wM A SUP BEGGS OINT13OF RANCH BEGIN" U ` N:6,952,772.72, E:2,245,254.10 ¢' E Ln .,E Dr sR C!, A-2'56 '�_AVE &EXCEPT ALe T e"' suR D202148423 a AR 53 P AVE & EXCEPT— D202426157 \ IN TERNAnoN A_ m cR NGATT 4N R sure A-1995 SAVE & EXCEPT VOL. 1841, PG FA"12�y20 AzoRAN TA SU A-5AT SAVE & EXCEPT Dzo17z99oo SAVE & EXCEPT VOL. 2507, PG 290 TON TO I A-325F A'AEC' 5 D SUR DEAN RANCH TEIPs of HIGBEE BLOCK 2 AT&FETn suF �1"W STON TAP KR3 Ia Na FF S OUR 550 Batley Avenue • l' 81 400 • Fort Worth, Texas 6107 TeX 817 335.1121 (M MEG F-W1441 &J A-1 sTO ayBE suR AEZFsEEY SUB A �TD2(P A B SAVE & EXCEPT D202148529 Parcel 2 & X EP RT 2ROA. R 1 SAVE2o& EXCEPT D201607571 TRACT 2 SAVE & EXCEPT D201607571 SAVE &EXCEPT TRACT D202148529 Parcel 1 BRA20RI AA OR SUR IH30 — 0 4000' SCALE FEET 1 "= 4000' WASTE MANAGEMENT JON BUR((LE501 SUF N29 (PC) ALTER TOU7sgaN sue NAZARIAN W TRACTZi QY FOR A-,99 OF LOST CREEKA4A-1­11DT-11 EL A"ss� BDR �.5. DNA TRACT AND ?� - D LESDN OUR 6R -� iPa3 MURRIN r r TRACT O O -i U U ' U' H W Z Y Q d< Of Q c A-s 5L(TC uR H MARKUM RANCH III Al R03 NSON SIR A=„a°, EEL; U RR SAN ANTONIO AND MENCAN VEALEGULF 79Ao Co F RANCH EXHIBIT ' A' NA5 AND PACIFIC U SUP !i . re fAr RNORrONAL AN cereis ry wR cR R CO A_R&,r . r "t ti a, f FAIll CL , .Al HAMILTON SUP A-5So 3Rc TRAC I ,33 S ll CALMN LALA3N BR D2021+8423 ALSERTABOON SUR 53 _ •..M.I MD TRI L I- . 4 BEGG n £ E I s DINT OF RANC, � w BEGINNING 5 E C T - D 4 N:6,952,772.72, E:2,245,254.10 o w N N ¢ aare - {fj DY SUR N A-zs56 C T �y D 1 5 5 mD R M SAVa ae E— 2 0 D201607571 LL TRACT 2 SAVE & EXCEPT D201607571 SAVE & EXCEPT SAVE & EXCEPT TRACT - D202426157 D202148529 \ NTcreNAnoNaL I cR Parcel 1 FOUSTA k NOZTHE4N gR9 \ CO SUR BRh30RlqTON -S SUR -ssa SAVE & EXCEPT VOL. 1841, PG 1266 AzoR,p s4TAA �BR -- I-t-- - — P SAVE & EXCEPT D201729900,' .f SAVE & EXCEPTS ,VOL. 2507, PG 290 ce R A-N UT BRnza sA NA 5sT DEAN RANCH Or �BLD IGRE ' 2'TMreIFULDRETre R l t:1 AV ENj WAY 560 Batley Avenue • SUI 400 • Fort Worth, Texas 76107 Tel'817 335.1121 (1X MEG F-11141 ilA^ 0 4000' SCALE FEET 1 "= 4000' \zz — — 0 0 w W z Y Q Q CLa EXH I BIT 'A' Property Boundary Description - 7,191.562 acres Being a 7,945.98 acre tract of land situated in G.E. and A.H. Tandy Survey, Abstract No. 2355; G.E. and A.H. Tandy Survey, Abstract No. 2356; International & Great Northern RR Company Survey, Abstract No. 1808; International & Great Northern RR Company Survey, Abstract No. 1995; International & Great Northern RR Company Survey, Abstract No. 1996; International & Great Northern RR Company Survey, Abstract No. 2002; International & Great Northern RR Company Survey, Abstract No. 2004; International & Great Northern RR Company Survey, Abstract No. 2224; Heirs of C.H. Higbee Survey, Abstract No. 2740; M.C. Moulton Survey, Abstract No. 933; M.C. Moulton Survey, Abstract No. 934; J.W.M. Rider Survey, Abstract No. 1120; C.B. Rider Survey, Abstract No. 1121; Horatio Chrisman Survey, Abstract No. 284; Edward Dean Survey, Abstract No. 354; Texas and Pacific Railway Company Survey, Abstract No. 1509; H.J. Thompson Survey, Abstract No. 2434; Houston Tap & Brazoria Railroad Company Survey, Abstract No. 647; Houston Tap & Brazoria Railroad Company Survey, Abstract No. 648; Houston Tap & Brazoria Railroad Company Survey, Abstract No. 651; Houston Tap & Brazoria Railroad Company Survey, Abstract No. 654; J.G. Wood Survey, Abstract No. 1961; Heirs of Higbee & Hildreth Survey, Abstract No. 2721 and William Robinson Survey, Abstract No. 1107; Jonathan Burleson Survey, Abstract No. 29: J.D. Kyle Survey, Abstract No. 792; Calvin Jackson Survey, Abstract No. 7.54; J.D. Morris Survey, Abstract No. 927, Parker County, Texas, also being situated in William Robinson Survey, Abstract No. 1274; Henry Lane Survey, Abstract No. 928; San Antonio and Mexican Gulf Railroad Company Survey, Abstract No. 1479; Jonathan Burleson Survey, Abstract No. 78, Tarrant County, Texas, said 7,945.98 acre tract of land being more particularly described as follows: Beginning at point for corner on the east right-of-way line of FM 3325 and a point on the common north line of Walsh Ranches, Limited Partnership tract, as recorded in Volume 1699, Page 1765, Deed Records of Parker County, Texas (D.R.P.C.T.) and the south line of a called 129.769 acre tract of land described in deed to Geo Beggs Aledo Ranch, LP, as recorded in Document No. 202043651, Official Public Records of Parker County, Texas (O.P.R.P.C.T.), said POINT OF BEGINNING being locatable by NAD83 Grid Coordinate N:6,952,772.72, E:2,245,254.10; THENCE North 89 degrees 18 minutes 47 seconds East, departing the east right-of-way line of said FM 3325, along said common line, a distance of 5,228.36 feet to the southeast corner of said Beggs tract; THENCE North 00 degrees 33 minutes 20 seconds West, departing said south line and along east line a distance of 2,038.95 feet to a point in the north line of said Beggs tract; THENCE North 89 degrees 27 minutes 30 seconds East, departing said east line a distance of 578.97 feet to a point for corner; THENCE North 01 degree 12 minutes 51 seconds West a distance of 440.80 feet to a point for the beginning of a non -tangent curve to the left, having a radius of 570.00 feet, a central angle of Page 1 of 12 54 degrees 15 minutes 47 seconds and a chord bearing of North 37 degrees 36 minutes 10 seconds East, a distance of 519.88 feet; THENCE Northeasterly, along said non -tangent curve to the left, an arc length of 539.83 feet to the end of said curve; THENCE North 25 degrees 08 minutes 36 seconds East a distance of 81.33 feet to a point for corner; THENCE North 01 degrees 12 minutes 46 seconds West a distance of 604.77 feet to a point for corner; THENCE North 48 degrees 34 minutes 26 seconds East, a distance of 56.54 feet to a point for the beginning of a non -tangent curve to the right, having a radius of 523.80 feet, a central angle of 47 degrees 59 minutes 46 seconds and a chord bearing of North 20 degrees 54 minutes 38 seconds West, a distance of 426.06 feet; Thence Northwesterly, along said non -tangent curve to the right, an arc distance of 438.78 feet to the end of said curve; THENCE North 00 degrees 00 minutes 05 seconds East a distance of 2,877.78 feet to a point for corner; THENCE North 00 degrees 16 minutes 13 seconds West a distance of 2,567.56 feet to a point for corner; THENCE North 49 degrees 36 minutes 44 seconds West a distance of 183.30 feet to a point for corner; THENCE North 71 degrees 51 minutes 34 seconds West a distance of 1,261.99 feet to a point for corner; THENCE North 33 degrees 34 minutes 00 seconds West a distance of 284.02 feet to a point for corner; THENCE North 50 degrees 15 minutes 59 seconds West a distance of 248.04 feet to a point for corner; THENCE North 17 degrees 24 minutes 03 seconds East a distance of 1,972.89 feet to a point for corner; THENCE North 88 degrees 28 minutes 01 seconds East a distance of 1,055.43 feet to a point for corner; THENCE North 00 degrees 58 minutes 37 seconds West a distance of 1,250.17 feet to a point for corner; Page 2 of 12 THENCE North 80 degrees 52 minutes 27 seconds East a distance of 3,755.46 feet to a point for corner; THENCE South 00 degrees 44 minutes 21 seconds East a distance of 1,386.56 feet to a point for corner; THENCE North 89 degrees 37 minutes 59 seconds East a distance of 135.66 feet to a point for corner; THENCE South 18 degrees 37 minutes 38 seconds West a distance of 3,482.53 feet to a point for corner; THENCE South 00 degrees 39 minutes 31 seconds East a distance of 4,662.20 feet to a point for corner; THENCE North 89 degrees 00 minutes 23 seconds East a distance of 2,082.80 feet to a point for corner; THENCE South 40 degrees 02 minutes 20 seconds East a distance of 383.71 feet to a point for corner; THENCE South 52 degrees 50 minutes 48. seconds East a distance of 318.45 feet to a point for corner; THENCE South 54 degrees 51 minutes 37 seconds East a distance of 186.29 feet to a point for corner; THENCE South 61 degrees 16 minutes 25 seconds East a distance of 360.79 feet to a point for corner; THENCE South 24 degrees 50 minutes 49 seconds East a distance of 883.61 feet to a point for corner; THENCE South 56 degrees 50 minutes 23 seconds East a distance of 24.09 feet to a point for corner; THENCE South 50 degrees 20 minutes 18 seconds East a distance of 432.17 feet to a point for corner; THENCE South 04 degrees 27 minutes 20 seconds East a distance of 370.84 feet to a point for corner; THENCE North 79 degrees 33 minutes 17 seconds East a distance of 616.49 feet to a point for corner; Page 3 of 12 THENCE South 01 degrees 07 minutes 50 seconds East a distance of 198.33 feet to a point for corner; THENCE South 89 degrees 03 minutes 28 seconds West a distance of 1,044.26 feet to a point for corner; THENCE South 00 degrees 46 minutes 45 seconds East along a west line of a called Brown tract, a distance of 2,759.51 feet to a point for corner in a south line of said Brown tract; THENCE North 89 degrees 27 minutes 36 seconds East, along said south line a distance of 3,530.28 feet to a point in a west line of said Brown tract; THENCE South 00 degrees 42 minutes 57 seconds East, along said west line a distance of 1,251.92 feet to a point for corner; THENCE North 89 degrees 49 minutes 04 seconds East, departing said west line a distance of 3,383.35 feet to a point for corner; THENCE South 00 degrees 43 minutes 26 seconds West a distance of 333.57 feet to a point for corner; THENCE South 01 degrees 37 minutes 09 seconds West a distance of 733.28 feet to a point for corner; THENCE South 02 degrees 04 minutes 20 seconds West a distance of 201.06 feet to a point for corner; THENCE South 00 degrees 22 minutes 29 seconds West a distance of 93.51 feet to a point for corner; THENCE South 01 degrees 07 minutes 35 seconds West a distance of 302.94 feet to a point for corner; THENCE South 01 degrees 20 minutes 19 seconds West a distance of 201.45 feet to a point for corner; THENCE South 00 degrees 58 minutes 48 seconds West a distance of 550.35 feet to a point for corner; THENCE South 00 degrees 36 minutes 23 seconds West a distance of 352.74 feet to a point for corner; THENCE South 00 degrees 29 minutes 26 seconds East a distance of 890.28 feet to a point for corner; Page 4 of 12 THENCE South 00 degrees 53 minutes 51 seconds East a distance of 98.37 feet to a point for corner; THENCE South 00 degrees 16 minutes 57 seconds West a distance of 806.86 feet to a point in the north right -of way of IH 30; THENCE along the north right-of-way line of said IH 30 the following courses and distances: South 83 degrees 52 minutes 23 seconds West a distance of 88.28 feet; South 89 degrees 34 minutes 23 seconds West a distance of 700.00 feet; North 76 degrees 23 minutes 37 seconds West a distance of 103.08 feet; South 75 degrees 32 minutes 23 seconds West a distance of 103.08 feet; South 89 degrees 34 minutes 23 seconds West a distance of 500.00 feet; North 81 degrees 53 minutes 37 seconds West a distance of 10 1. 12 feet; South 89 degrees 34 minutes 23 seconds West a distance of 900.00 feet; South 81 degrees 02 minutes 23 seconds West a distance of 10 1. 12 feet; South 89 degrees 34 minutes 05 seconds West a distance of 805.25 feet to a 5/8-inch iron rod with yellow cap stamped "'DUNAWAY ASSOC LP seconds (hereinafter referred to as 5/8-inch YCIR); THENCE South 01 degrees 18 minutes 36 seconds East, leaving the north right-of-way of said IH 30, a distance of 415.23 feet to a point in the south right-of-way of IH 30, same being in the west line of the called Nazarian tract; THENCE South 00 degrees 13 minutes 59 seconds East, departing the south right-of-way line of said IH 30 and along said west line a distance of 4,211.00 feet to a point in the south line of said Nazarian tract; THENCE South 89 degrees 45 minutes 11 seconds East, leaving said west line and along said south line a distance of 3,344.49 feet to a point in the east line of said Nazarian tract; THENCE North 00 degrees 04 minutes 29 seconds West, leaving said south line and along said east line a distance of 827.60 feet to a point for corner; THENCE South 89 degrees 57 minutes 27 seconds East a distance of 2,666.03 feet to a point in the west line of a called Lost Creek tract; THENCE South 00 degrees 10 minutes 01 seconds West, leaving said south line and along said west line a distance of 2,263.89 feet to a point in the south line of said Lost Creek; THENCE South 89 degrees 38 minutes 07 seconds East, leaving said west line and along said south line a distance of 2,642.60 feet to a point in the west line of a called Murrin tract; THENCE South 00 degrees 08 minutes 37 seconds West a distance of 3,309.95 feet along said west line to a TXDOT monument in the north right-of-way of said IH 20; Page 5 of 12 THENCE South 85 degrees 30 minutes 24 seconds West, departing the north right-of-way line of said IH 20, across said IH 20 a distance of 2,693.60 feet to a found rebar in the southwesterly right-of-way of said IH 20, same being a corner on the east line of said Walsh Ranches tract, said corner being the northwest corner of a tract (Tract 2) of land, as described in deed to Dry Ranch, LLC, as recorded in Document Number D217210159, Official Public Records of Tarrant County, Texas (O.P.R.T.C.T.); THENCE South 00 degrees 00 minutes 24 seconds West, departing said southwesterly right-of- way line, along the east line of said Walsh Ranches tract and the west line of said Tract 2, passing a found 1/2-inch iron rod for the southwest corner of said Tract 2 at a distance of 316.95 feet, continuing along east line of said Walsh Ranches tract and the west line of a called 100.6611 acre tract recorded in deed to Markum Land Properties, LLC, as recorded in Document Number D217100297, O.P.R.T.C.T., a called 5.146 acre tract of land described in deed to City of Fort Worth, as recorded in Document Number D221015413, O.P.R.T.C.T., a called 51.4720 acre tract recorded in deed to Markum Land Properties, LLC, as recorded in Document Number D217100297, O.P.R.T.C.T., tract (Tract 3) of land, as described in deed to Dry Ranch, LLC, as recorded in Document Number D217210159, O.P.R.T.C.T., a total distance of 5,288.60 feet to a found 1/2-inch iron rod in concrete for the southeast corner of said Walsh Ranches tract and the southwest corner of said Diy Ranch Tract 3, said corner being on the north right-of-way line Aledo Road (variable width); THENCE North 77 degrees 49 minutes 14 seconds West, departing the east line of said Walsh Ranches tract and the west line of said Dry Ranch Tract 3, along said north right-of-way line, a distance of 212.02 feet to a point for corner; THENCE North 80 degrees 34 minutes 42 seconds West, along said north right-of-way line, a distance of 2,044.40 feet to a point for corner; THENCE North 82 degrees 39 minutes 11 seconds West, along said north right-of-way line, a distance of 562.68 feet to a point for corner; THENCE South 71 degrees 00 minutes 49 seconds West, along said north right-of-way line, a distance of 77.68 feet to a point for corner for an angle point on the north right-of-way line of the Union Pacific Railroad (variable width); THENCE North 80 degrees 25 minutes 53 seconds West, along said north right-of-way line, a distance of 280.87 feet to a point for corner for the southeast corner of tract (Tract 3) of land, as described in deed to Union Pacific Railroad, as recorded in Document Number 201910086, D.R.P.C.T; THENCE North 09 degrees 32 minutes 09 seconds East, along the east line of said Union Pacific Tract 3, a distance of 10.00 feet to a point for corner for northeast corner of said Union Pacific Tract 3; THENCE North 80 degrees 25 minutes 53 seconds West, along the north line of said Union Pacific Tract 3, a distance of 151.37 feet to a set 5/8-inch YCIR for the beginning of a circular Page 6 of 12 curve to the left, having a radius of 3,905.33 feet and whose chord bears North 82 degrees 18 minutes 05 seconds West, a distance of 254.85 feet; THENCE Northwest, along said north line and said curve to the left, through a central angle of 03 degrees 44 minutes 23 seconds, an arc distance of 254.90 feet to a point for corner for the northwest corner of said Union Pacific Tract 3; THENCE South 05 degrees 49 minutes 36 seconds West, along the west line of said Union Pacific Tract 3, a distance of 10.00 feet to a point for corner for the southwest corner of said Union Pacific Tract 3, said corner being on the north right-of-way line of said Union Pacific Railroad, said corner being on a circular curve to the left, having a radius of 3,895.33 feet and whose chord bears North 89 degrees 59 minutes 35 seconds West, a distance of 790.25 feet; THENCE Northwest, along said north right-of-way line and said curve to the left, through a central angle of 11 degrees 38 minutes 37 seconds, an arc distance of 791.61 feet to a point for corner for the end of said curve; THENCE South 84 degrees 11 minutes 07 seconds West, along said north right-of-way line, a distance of 3,433.02 feet to a found concrete monument (disturbed); THENCE North 04 degrees 25 minutes 44 seconds West, along said north right-of-way line, a distance of 24.96 feet to a point for corner; THENCE South 84 degrees 11 minutes 05 seconds West, along said north right-of-way line, a distance of 1,493.62 feet to a point for corner in the north line of Tract 2 of said Union Pacific Railroad deed (Document Number 201910086); THENCE North 05 degrees 46 minutes 57 seconds West, along the east line of said Union Pacific Tract 2, a distance of 25.00 feet to a point for corner for northeast corner of said Union Pacific Tract 2; THENCE South 84 degrees 11 minutes 05 seconds West, along the north line of said Union Pacific Tract 2, a distance of 577.77 feet to a set 5/8-inch YCIR for the for the beginning of a circular curve to the left, having a radius of 2,105.00 feet and whose chord bears South 81 degrees 00 minutes 37 seconds West, a distance of 235.02 feet; THENCE Southwest, along said north line and said curve to the left, through a central angle of 06 degrees 24 minutes 01 second, an arc distance of 235.14 feet to a point for corner for the northwest corner of said Union Pacific Tract 2; THENCE South 12 degrees 11 minutes 23 seconds East, along the west line of said Union Pacific Tract 2, a distance of 25.00 feet to a point for corner for the southwest corner of said Union Pacific Tract 2, said corner being on the north right-of-way line of said Union Pacific Railroad, said corner being on a circular curve to the left, having a radius of 2,080.00 feet and whose chord bears South 67 degrees 29 minutes 25 seconds West, a distance of 744.10 feet; Page 7 of 12 THENCE Southwest, along said north right-of-way line and said curve to the left, through a central angle of 20 degrees 36 minutes 29 seconds, an arc distance of 748.13 feet to a point for corner for the end of said curve; THENCE South 57 degrees 09 minutes 11 seconds West, along said north right-of-way line, a distance of 913.24 feet to a point for corner in the north line of Tract 1 of said Union Pacific Railroad deed (Document Number 201910086); THENCE North 32 degrees 47 minutes 47 seconds West, along the east line of said Union Pacific Tract 1, a distance of 25.00 feet to a point for northeast corner of said Union Pacific Tract 1; THENCE North 57 degrees 09 minutes 11 seconds West, along the north line of said Union Pacific Tract 1, a distance of 434.92 feet to a point for corner for the northeast corner of said Union Pacific Tract 1; THENCE South 32 degrees 47 minutes 47 seconds East, along the west line of said Union Pacific Tract 1, a distance of 25.00 feet to a point for the southwest corner of said Union Pacific Tract 1, said corner being on the north right-of-way line of said Union Pacific Railroad; THENCE South 57 degrees 09 minutes 11 seconds West, along said north right-of-way line, a distance of 1,080.46 feet to a found car axle for the southwest corner of said Walsh Ranches tract and the southeast corner of Parcel 6, as described in Memorandum of Right-of-way Agreement, as recorded in Volume 1441, Page 441, D.R.P.C.T., said corner being on the north right-of-way line of Union Pacific Railroad (variable width); THENCE North 00 degrees 13 minutes 49 seconds West, along the west line of said Walsh Ranches Tract a distance of 14,822.79 feet to a point for corner; THENCE South 79 degrees 04 minutes 27 seconds West a distance of 833.50 feet to a point for corner; THENCE North 69 degrees 10 minutes 38 seconds West a distance of 2,000.41 feet to a point for corner; THENCE North 89 degrees 55 minutes 38 seconds West a distance of 2,536.63 feet to a point for corner; THENCE North 86 degrees 25 minutes 38 seconds West a distance of 950.20 feet to a point for corner; THENCE South 65 degrees 49 minutes 22 seconds West a distance of 197.30 feet to a point for corner; Page 8 of 12 THENCE North 01 degrees 33 minutes 29 seconds West a distance of 1266.94 feet to a point for corner; THENCE North 88 degrees 26 minutes 21 seconds East a distance of 310.01 feet to a point for corner; THENCE North 01 degrees 33 minutes 36 seconds West a distance of 5 60. 00 feet to a point for corner; THENCE South 88 degrees 26 minutes 28 seconds West a distance of 309.99 feet to a point for corner; THENCE North 01 degrees 33 minutes 29 seconds West a distance of 1423.94 feet to a point on the south right of way line of said IH 20; THENCE North 00 degrees 52 minutes 55 seconds West, departing the south right-of-way line of said IH 20, across said IH 20, a distance of 402.23 feet to the southeast corner of Parcel 2, as recorded in Volume 1441, Page 400 D.R.P.C.T., said corner being on the north right-of-way line of said IH 20; THENCE North 02 degrees 13 minutes 26 seconds West, along the east line of said Parcel 2, departing the north right-of-way line of said IH 20, a distance of 402.51 feet to a corner on the north line of said Parcel 2, said corner being the northeast corner of Parcel 2; THENCE South 89 degrees 41 minutes 04 seconds West, departing the east line of said Parcel 2 and along the north line of said Parcel 2 a distance of 1190.21 feet to a 1-inch iron rod for a corner, said corner being in the north right -of way -line of said IH 20; THENCE North 71 degrees 48 minutes 55 seconds West, along the north right-of-way line of said IH 20, a distance of 73.35 feet to a found 5/8-inch YCIR for the beginning of a curve to the left having a radius of 2,893.79 feet, a central angle of 18 degrees 00 minutes 45 seconds and a chord bearing of North 80 degrees 32 minutes 02 seconds West, a distance of 906.01 feet; THENCE Northwesterly along said north right-of-way line and said curve to the left, an arc length of 909.75 feet to a found TxDOT monument for the end of said curve; THENCE North 50 degrees 36 minutes 24 seconds West, departing the north right-of-way line of said IH 20, along the east right-of-way of said FM 3325, a distance of 117.42 feet to a found TxDot monument for corner; THENCE North 00 degrees 41 minutes 43 seconds West, continuing along said east right-of-way line, a distance of 370.73 feet to a found 5/8-inch YCIR for the beginning of a curve to the left having a radius of 11,519.16 feet, a central angle of 01 degrees 44 minutes 03 seconds and a chord bearing North 01 degrees 33 minutes 45 seconds West, a distance of 348.64 feet; Page 9 of 12 THENCE Northwesterly continuing along said east right-of-way line and said curve to the left an arc length of 348.65 feet to a found TxDOT monument for the end of said curve; THENCE continuing along the east right-of-way of said FM 3325 the following courses and distances: THENCE North 02 degrees 25 minutes 46 seconds West, a distance of 240.91 feet to a found railroad spike in base of tree for corner; THENCE North 02 degrees 25 minutes 46 seconds West, a distance of 138.55 feet to a found TxDOT monument for corner; THENCE North 04 degrees 41 minutes 44 seconds East, a distance of 201.56 feet to a point for corner; THENCE North 02 degrees 25 minutes 46 seconds West, a distance of 200.00 feet to a found TxDOT monument for corner; THENCE North 16 degrees degree 27 minutes 57 seconds West, a distance of 103.08 feet to a found TxDOT monument for corner; THENCE North 02 degrees 25 minutes 46 seconds West, a distance of 21.55 feet to a point for the beginning of a curve to the right having a radius of 11,399.09 feet, a central angle of 01 degrees 22 minutes 14 seconds and a chord bearing North 01 degrees 44 minutes 39 seconds West, a distance of 272.67 feet; THENCE Northwesterly continuing along said curve to the right an arc length of 272.68 feet to a found TxDOT monument for corner for the end of said curve; THENCE North 01 degrees 03 minutes 32 seconds West, a distance of 104.36 feet to a found TxDOT monument for corner; THENCE North 04 degrees 39 minutes 06 seconds East, a distance of 100.50 feet to a point for corner, from which a found TxDOT monument bears North 89 degrees 40 minutes 40 seconds West, a distance of 2.76 feet; THENCE North 10 degrees 15 minutes 03 seconds East, a distance of 101.98 feet to a point for corner; THENCE North 01 degrees 03 minutes 32 seconds West, a distance of 100.00 feet to a point for corner; THENCE North 06 degrees 46 minutes 11 seconds West, a distance of 100.50 feet to a found TxDOT monument for corner; Page 10 of 12 THENCE North 01 degrees 03 minutes 32 seconds West, a distance of 100.00 feet to a found TxDOT monument for corner; THENCE North 06 degrees 46 minutes 11 seconds West, a distance of 100.50 feet to a found TxDOT monument for corner; THENCE North 01 degrees 03 minutes 32 seconds West, a distance of 100.00 feet to a found TxDOT monument for corner; THENCE North 06 degrees 46 minutes 11 seconds West, a distance of 100.50 feet to a found TxDOT monument for corner; THENCE North 01 degrees 03 minutes 32 seconds West, a distance of 122.14 feet to the POINT OF BEGINNING and containing 7,945.98 acres or 346,126,933 square feet of land more or less. Save and Except the following 754.418 acres more or less: Approximately 3.97 acres of land described in a deed recorded in Volume 1841, Page 1266, D.R.P.C.T. Approximately 1.52 acres of land described in a deed recorded in Document Number D201729900, D.R.P.C.T. Approximately 23.535 acres of land described in a deed recorded in Volume 2507, Page 290, D.R.P.C.T. Approximately 268.47 acres of land described in a deed recorded in Document Number 201607571, O.P.R.T.C.T Approximately 182.393 acres of land described in a deed recorded in Document Number D201815085, O.P.R.T.C.T. Approximately 60.07 acres of land described in a deed recorded in Document Number D202125716, O.P.R.P.C.T. Approximately 155.03 acres of land described in a deed recorded in Document Number D202148529, O.P.R.P.C.T. Approximately 34.548 acres of land described in a deed recorded in Document Number D202148423, O.P.R.P.C.T. Approximately 2.0 acres of land described in a deed recorded in Volume 2438, Page 899, D.R.P.C.T. Approximately 1.522 acres of land described in a deed recorded in Document Number D202148528, O.P.R.P.C.T. Page 11 of 12 Approximately 21.36 acres of land described in a deed recorded in Document Number D202426157, O.P.R.P.C.T. For a net acreage of 7,191.562 acres more or less. Note: This note serves to clarify that the property boundary depicted in the provided exhibit and description for the subject property was prepared based solely on prior records, including but not limited to deeds, plats, and other available documentation. This depiction does not constitute a formal boundary survey. No fieldwork, measurements, or on -site investigations were conducted to verify the accuracy of these boundaries. Bearings are based on Texas State Coordinate System. Distances shown hereon are surface values using a combined scale factor of 0.99984462415 Page 12 of 12 City of Fort Worth, Texas Mayor and Council Communication DATE: 11/11/25 M&C FILE NUMBER: M&C 25-1057 LOG NAME: 17TIF18 WALSH RANCH ESTABLISH SUBJECT (CD 3) Conduct a Public Hearing Regarding the Designation of Tax Increment Reinvestment Zone Number Eighteen, City of Fort Worth, Texas and Adopt an Ordinance Creating the Zone, also known as, the Walsh Ranch Tax Increment Financing District (PUBLIC HEARING - a. Staff Available for Questions: Ori Fernandez; b. Public Comment; c. Council Action: Close Public Hearing and Act on the M &C) RECOMMENDATION: It is recommended that the City Council: Conduct a public hearing concerning the creation of Tax Increment Reinvestment Zone Number Eighteen, City of Fort Worth, Texas, for tax increment financing purposes; and Adopt the attached ordinance designating Tax Increment Reinvestment Zone Number Eighteen, City of Fort Worth, Texas, pursuant to Chapter 311 of the Texas Tax Code and containing specific findings of fact in support thereof. DISCUSSION: The purpose of this Mayor and Council Communication (M&C) is to conduct a public hearing on the establishment of Tax Increment Reinvestment Zone Number Eighteen, City of Fort Worth, Texas (Walsh Ranch TIF), as required by Chapter 311 of the Texas Tax Code (Code). The area of the proposed Walsh Ranch TIF consists of approximately 7,191.562 acres of land within the corporate limits and extraterritorial jurisdiction of the City of Fort Worth in both Parker and Tarrant Counties and generally located north of Aledo Road, south of White Settlement Road, east of Farmer Road and FM 1187, and west of Interstate 820 and State Highway 377. The exact boundaries of the property are described in Exhibit A of the attached ordinance. The Walsh Ranch TIF is being considered in order to finance public infrastructure improvements, including assisting with the acceleration of completing major regional road, water, sewer, and drainage projects necessary to: • Activate the "2500" and "Corporate Bowl" portions of the project located south of Interstate 20 for major economic development projects • Accelerate development within the "Highland Hills" portion of the project concurrent with the construction of the University of Texas at Arlington (UTA) West campus • Support development of the "Walsh West" portion of the project surrounding the H-E-B grocery site opening 300+ acres of commercial development • Expand regional access to and from neighboring properties surrounding Walsh to enhance the functionality and value of properties within the TIF The attached ordinance provides that the City will contribute (i) 50% of its tax increment to the Walsh Ranch TIF each year that it is in existence or (ii) 65% of the City's tax increment if both Tarrant and Parker Counties enter in to participation agreements to contribute 50% or more of their tax increments to the TIF Fund but, subject to a thirty-year limitation for each parcel as it is annexed/begins producing increment. The Walsh Ranch TIF will become effective on the date that the City Council adopted the attached Ordinance and will terminate on the earlier of (i) distribution of taxes attributable to and collected for the tax year ending on December 31, 2107 or an earlier termination date designated by an ordinance adopted after the effective date of the attached Ordinance or (ii) the date on which all project costs, tax increment bonds and interest on those bonds have been paid or otherwise satisfied in full. Revenue from the Walsh Ranch TIF will be collected and deposited for up to eighty-two (82) tax years with collections that extend beyond the final tax year being solely dedicated to winding down the Walsh Ranch TIF. Other details of the Walsh Ranch TIF are as follows: • TIF to be governed by a five -member board appointed by the City, with an additional representative to be added to the baord for each county if they enter into a participation agreement, meaning the board size could consist of up to seven individuals • TIF reimbursement will be for completed projects only • Excludes developed phases of the Quail Valley Public Improvement District (PID) • No City sales tax TIF participation • City will consider Chapter 380 grants on a case -by -case basis Per the Code, a public hearing is required to establish the Walsh Ranch TIF. Notice of this public hearing was published in a newspaper of general circulation in both the corporate boundaries and extra -territorial jurisdiction of the City at least seven days prior to this meeting. The City Council also acknowledges that the Preliminary Project and Financing Plans for the Walsh Ranch TIF have been prepared on its behalf and are on file with City staff. If the TIF is created as proposed, the TIF board will be tasked with approving updated project and financing plans and sending them to the City Council for formal adoption by ordinance. The proposed Walsh Ranch TIF is located in the City's corporate limits and the City's extraterritorial jurisdiction. 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 approval of these recommendations will have no material effect on City funds. Submitted for Citv Manaaer's Office bv: Jesica McEachern 5804 Oriainatina Business Unit Head: Jessica Rogers 2663 Additional Information Contact: Ori Fernandez 2606 Expedited