Loading...
HomeMy WebLinkAbout28519-05-2026 - City Council - OrdinanceOrdinance Designating Tax Abatement Reinvestment Zone Number 118, City of Fort Worth, Texas Page 1 of 3 ORDINANCE NO. AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE CITY OF FORT WORTH AS “TAX ABATEMENT REINVESTMENT ZONE NUMBER 118, CITY OF FORT WORTH, TEXAS”; PROVIDING THE EFFECTIVE AND EXPIRATION DATES FOR THE ZONE AND A MECHANISM FOR RENEWAL OF THE ZONE; AND CONTAINING OTHER MATTERS RELATED TO THE ZONE. WHEREAS, pursuant to the City of Fort Worth’s (“City”) General Tax Abatement Policy, as revised and adopted by the Fort Worth City Council (“City Council”) on December 9, 2025 via Resolution No. 6222-12-2025 (“Tax Abatement Policy”), the City has elected to be eligible to participate in tax abatement and has established guidelines and criteria governing tax abatement agreements entered into between the City and various third parties, as authorized by Chapter 312 of the Texas Tax Code, as amended (“Code”); WHEREAS, the City Council desires to promote the development of the area in the City more specifically described in Exhibit “A” of this Ordinance (“Zone”) through the creation of a tax abatement reinvestment zone for the purpose of supporting new business investment or expansion, as authorized by the Code; WHEREAS, Marand US Holdings LLC, (“Company”), in addition to other employment and salary commitments, will develop and expand its Company aerospace manufacturing facility and sustainment operation within the Zone (collectively, the “Improvements”); WHEREAS, Company has applied for real and business personal property tax abatements from the City in return for completion of the Improvements in the Zone, and to foster economic development in the Zone and the City in general, it is anticipated that the City will enter into a City Council-approved tax abatement agreement with Company to that effect; WHEREAS, on May 12, 2026, the City Council held a public hearing regarding the designation of the Zone, received information concerning the Improvements proposed for the Zone, and afforded a reasonable opportunity for all interested persons to speak and present evidence for, or against, the creation of the Zone (“Public Hearing”), as required by Section 312.201(d) of the Code; WHEREAS, notice of the Public Hearing was published in a newspaper of general circulation in the City at least seven (7) days prior to the Public Hearing, in accordance with Section 312.201(d)(1) of the Code; and Ordinance Designating Tax Abatement Reinvestment Zone Number 118, City of Fort Worth, Texas Page 2 of 3 WHEREAS, in accordance with Sections 312.201(d)(2) and 312.201(e) of the Code, notice of the Public Hearing was also delivered, in writing, to the presiding officer of the governing body of each taxing unit that includes in its boundaries real property that is to be included in the proposed Zone not later than the seventh day before the date of the Public Hearing. 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 the Public Hearing and affording a reasonable opportunity for all interested persons to speak and present evidence for, or against, the creation of the Zone, the City Council hereby makes the following findings of fact: 1.1.The statements and facts set forth in the recitals of this Ordinance are true and correct and the City has met the statutory requirements of Chapter 312 of the Code for creation and designation of the Zone. 1.2.The Improvements proposed for the Zone, as more specifically outlined in the Public Hearing, are feasible and practical and, once completed will benefit the land included in the Zone as well as the City for a period of more than ten (10) years, which is the statutory maximum term of any tax abatement agreement entered into under Chapter 312 of the Code. 1.3.As a result of designation as a reinvestment zone, the area within the Zone is reasonably likely to contribute to the expansion of primary employment and to attract major investment in the Zone that will be a benefit to property in the Zone and will contribute to the economic development of the City. SECTION 2. DESIGNATION OF ZONE That the City Council designates the Zone described in the boundary description attached hereto as Exhibit “A” and made a part of this Ordinance for all purposes as a reinvestment zone for purposes of permitting tax abatement as may be found desirable by the City or any other eligible taxing units for purposes authorized by and in accordance with Chapter 312 of the Code. This Zone will be known as “Tax Abatement Reinvestment Zone Number 118, City of Fort Worth, Texas.” This project is eligible for commercial/industrial tax abatements per Section 3.4 of the Tax Abatement Policy as a Supplier of an Established Target Sector Employer. Ordinance Designating Tax Abatement Reinvestment Zone Number 118, City of Fort Worth, Texas Page 3 of 3 SECTION 3. TERM OF ZONE The Zone takes effect upon the effective date of this Ordinance and expires five (5) years thereafter. The Zone may be renewed by the City Council for one or more subsequent terms not to exceed five years, unless otherwise allowed by law. SECTION 4. SEVERABILITY 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 will remain in full force and effect and shall not in any way be impaired or affected by such decision, opinion, or judgment. SECTION 5. IMMEDIATE EFFECT. That this Ordinance takes effect upon its adoption. ATTESTED BY: ADOPTED AND EFFECTIVE: APPROVED AS TO FORM AND LEGALITY: By: _____________________________ Michael Doss Senior Assistant City Attorney Jannette Goodall City Secretary M&C: EXHIBIT “A” BOUNDARY DESCRIPTION OF THE ZONE BEING a tract of land situated in the Samuel Woody Survey, Abstract No. 1638, City of Fort Worth, Tarrant County, Texas and being a part of that certain track of land described by deed to ProgencyCSB, L.P., recorded in County Clerk’s Document Number D213205721, Deed Records, Tarrant County, Texas, said tract of land being more particularly described by metes and bounds as follows: BEGINNING at a 1/2” iron rod found in the southerly right-of-way line of Interstate Highway 20 (S.E. Loop 820) (a variable width right-of-way), the northeast corner of said ProgenyCSB tract, and the northwest corner of Lot 1, Block 4, Campus Business Park, an Addition to the City of Fort Worth, according to the plat recorded in Volume 388-207, Page 100, Plat Records, Tarrant County, Texas; THENCE South 27°36’04” West, with the east line of said ProgenyCSB tract, with the west line of said Lot 1, Block 4, Campus Business Park, a passing distance of 200.26 feet the southwest corner of said Lot 1, Block 4, Campus Business Park, the northwest corner of Lot 2-R, Block 4, Campus Business Park, an Addition to the City of Fort Worth according to the plat recorded in Cabinet A, Slide 635, Plat Records, Tarrant County, Texas, continuing with the west line of said Lot 2-R, Block 4, Campus Business Park, for a total distance of 955.14 feet (deed = 954.11’) to a 5/8” iron rod with yellow cap stamped “RUNWAY ASSOC.” (Hereinafter called 5/8” YCIR) set for the southeast corner of said ProgenyCSB tract, the most northerly northeast corner of Lot 1, Block 3, Campus Business Park, an Addition to the City of Fort Worth, according to the plat recorded in Cabinet A, Slide 12350, Plat Records, Tarrant County, Texas; THENCE North 62°23’56” West, departing the west line of said of Lot 2-R, Block 4, Campus Business Park, with the south line of said ProgenyCSB tract, with the north line of said Lot 1, Block 3, Campus Business Park, a distance of 497.21 feet to a 5/8” YCIR set for the southwest corner of said ProgencyCSB tract, the northwest corner of said Lot 1, Block 3, Campus Business Park and in the east line of that certain tract of land described as Tract 2, by deed to The Leather Factory, L.P., recorded in County Clerk’s Document Number D207267563, Deed Records, Tarrant County, Texas; THENCE North 27°35’27 East, departing the north line of said Lot 1, Block 3, Campus Business Park, west a west line of said ProgencyCSB tract, with the east line of said Tract 2, the Leather Factory tract, a distance of 654.92 feet to a 5/8” YCIR set, the northwest corner of said Tract 2, the Leather Factory Tract; THENCE North 62°23’56 West, continuing with a westerly line of said ProgenyCSB tract, with the north line of said Tract 2, The Leather Factory tract, a distance of 179.88 feet to a 5/8” YCIR set for the most northerly southwest corner of said ProgenyCSB tract, the southeast corner of Lot 1. Block 1, Campus Business Park, and Addition to the City of Fort Worth, according to the plat recorded in Volume 388-92, Page 6, Plat Records, Tarrant County, Texas; THENCE North 27°45’41” East, departing the north line of said Tract 2, the Leather Factory tract, continuing with a westerly line of said ProgenyCSB tract, with the east line of said Lot 1. Block 1, Campus Business Park, a distance of 300.22 feet (deed = 299.19’) to a 5/8” YCIR set in the southerly right-of-way line of said Interstate Highway 20 (S.E. Loop 820), the northwest corner of said ProgenyCSB tract, the northeast corner of said Lot 1. Block 1, Campus Business Park; THENCE South 62°23’56” East, departing the east line of said Lot 1. Block 1, Campus Business Park, with the north line of said ProgenyCSB tract, with the southerly right-of-way line of said Interstate Highway 20 (S.E. Loop 820), a distance of 676.37 feet to the POINT OF BEGINNING and containing a calculated area of 528,856 square feet or 12.140 acres of land.