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HomeMy WebLinkAbout065512 - General - Contract - Tax Increment Reinvestment Zone No. 4 (Southside/Medical District)CSC No. 65512 TAX INCREMENT FINANCING FUNDING AGREEMENT Fire Station Park: Non -Routine Improvements and Operations TIFF 4 - Res. No. TIF4-2025-05 This TAX INCREMENT FINANCING FUNDING AGREEMENT ("Agreement") is entered into by and between the BOARD OF DIRECTORS OF TAX INCREMENT REINVESTMENT ZONE NUMBER FOUR, CITY OF FORT WORTH, TEXAS ("Board"), an administrative body appointed in accordance with Chapter 311 of the Texas Tax Code ("TIF Act") to oversee the administration of Tax Increment Reinvestment Zone Number Four, City of Fort Worth, Texas, a reinvestment zone designated by ordinance of the City of Fort Worth ("City") in accordance with the TIF Act, and the CITY OF FORT WORTH ("City"), a Texas home -rule municipality. RECITALS The Board and City hereby agree that the following statements are true and correct and constitute the basis upon which the Board and City have entered into this Agreement: A. On November 25, 1997, the City Council adopted Ordinance No. 13259, establishing Tax Increment Reinvestment Zone Number Four, City of Fort Worth, Texas ("TIF District"), and establishing the tax increment fund of the TIF District ("TIF Fund"). On November 8, 2022, the City Council adopted Ordinance No. 25837-11-2022 extending the term of the TIF District. B. On August 31, 1999, the City Council approved project and financing plans for the TIF District pursuant to Ordinance No. 13919, which were subsequently amended on December 11, 2012, pursuant to Ordinance No. 20536-12-2012, and on November 8, 2022, pursuant to Ordinance No. 25837-11-2022 (collectively the "TIF Project Plan"). The TIF Project Plan sets forth, among other things, the public works or public improvements that the Board and the City have determined will benefit the TIF District and towards which revenue of the TIF can be dedicated, as provided by the TIF Act. C. The City has requested TIF funding for non -routine improvements and operations ("Public Improvements") at Fire Station Park, located at Maddox Avenue and Hemphill Street, which Public Improvements are set forth in more detail in Exhibit A attached hereto and incorporated herein for all purposes ("Project"). D. The TIF Project Plan specifically authorizes the Board to enter into agreements dedicating revenue from the TIF fund for public improvements that benefit the general public and facilitate development of the TIF district as an eligible expense. Accordingly, the costs of the Project qualify as lawful "project costs," as that term is defined in Section 311.002(1) of the TIF Act ("Project Cost"). Accordingly, the Board is willing to provide funding for the purchase of the land solely in accordance with and pursuant to this Agreement. TIF Funding Agreement between TIF 4 and City of Fort Worth Page 1 of 10 OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX NOW, THEREFORE, the Board and City, for and in consideration of the terms and conditions set forth herein, do hereby contract, covenant, and agree as follows: 1. CITY'S OBLIGATIONS. City will oversee and be responsible for all aspects of the Project in accordance with this Agreement, the TIF Project Plan, and all Legal Requirements. 2. FUNDING BY THE BOARD 2.1 Amount of Funding. Provided that the City pursues the Project, and the City has complied with all terms and conditions of this Agreement, the Board will provide funding for the Project in an amount up to Fifty Thousand Dollars and Zero Cents ($50,000.00) ("Funds") in accordance with this Agreement; provided, however, that if there are not sufficient revenues in the TIF Fund at such time, the financial obligations of the Board to City under this Agreement will be carried forward without interest to the next fiscal year of the TIF District in which there are sufficient revenues in the TIF Fund to satisfy such obligations. In no event will the Board pay City any portion of the Funding in excess of Funds. 2.2 Reimbursement. All costs incurred pursuant to the Project will be advanced and paid for by City and will not, in any event, be paid by the Board except as a reimbursement to City in accordance with this Agreement. 2.3 TIF Fund Contributions. The Board acknowledges and consents to the transfer from the TIF Fund of up to the total amount of the Funds, in whole or in part, to the funds or accounts of the City that will be used to pay for the costs of the Project. 2.4 Limited to Available TIF Funds. Notwithstanding anything to the contrary herein, City understands and agrees that the Board will be required to pay the Funds only from available revenues in the TIF Fund that are attributable solely to tax increment (as defined in Section 311.012 of the Texas Tax Code) generated annually from property located in the TIF District and deposited into the TIF Fund in accordance with the TIF Act. TIF Funding Agreement between TIF 4 and City of Fort Worth Page 2 of 10 2.5 Priority of Payment. Notwithstanding anything to the contrary herein, City understands and agrees that any obligation of the Board to pay all or any portion of the Funds shall be subject and subordinate to the Board's right to retain reserves in the TIF Fund in any fiscal year to meet all existing contractual obligations of the Board. Specifically and without limiting the generality of the foregoing, the following payments, as obligated by the following existing contractual obligations, shall have priority over payment by the Board of all or any portion of the Funds: (i) Payments made pursuant to that certain Agreement by and among the City, the Board, and the Central City Local Government Corporation dated to be effective December 7, 2005 (Magnolia Green Parking Garage); Payment made pursuant to that certain TIF Development Agreement between the Board and NRP Lone Star Development, LLC for public improvements associated with the Magnolia Lofts workforce housing development located at Magnolia and Bryan Avenues approved by the board on August 3, 2022 and amended on April 5, 2023 (Magnolia Lofts); (iii) Payment made pursuant to Amendment to a Tax Increment Financing Development Agreement between the Board and Fort Worth South, Inc., to authorize a multi -year TIF Maintenance Agreement with Fort Worth South, Inc. for annual landscaping, fertilizing, grass cutting, trash pick- up, pedestrian lighting, and irrigation of the Watts Park, approved by the Board on December 16, 2015 and amended by the Board on October 19, 2022 (Watts Park Maintenance); (iv) Payment made pursuant to that certain Tax Increment Funding Agreement between the Board and the City of Fort Worth for public improvements associated with the 2014 CIP Match approved by the Board on November 6, 2013 and amended by the Board on August 3, 2022, on December 7, 2022, and May 1, 2024 (2014 CIP/TIF Street Improvement); (v) Payment made pursuant to that certain TIF Funding Agreement with the City of Fort Worth for construction of East Rosedale and South Main Gateway improvement projects approved by the Board on December 7, 2022 (East Rosedale and South Main Gateways Construction); (vi) Payment made pursuant to that certain Tax Increment Financing Development Agreement between the Board and Near Southside, Inc. for design, engineering, fabrication, and installation of phase two of Near Southside Wayfinding Program approved by the Board on December 2, TIF Funding Agreement between TIF 4 and City of Fort Worth Page 3 of 10 2020 and amended on December 7, 2022, May 1, 2024, and December 3, 2025 (Wayfinding Program Phase Two); (vii) Payment made pursuant to that certain TIF Development Agreement between the Board and Cumberland Holdings LLC for public improvements associated with the restoration of 1104 and 1100 Evans Avenue approved by the Board on April 5, 2023 and amended on December 3, 2025 (Historic Cumberland Properties); (viii) Payment made pursuant to that certain TIF Development Agreement between the Board and JPS Health Network or affiliated entity for public infrastructure improvements associated with phase one of the JPS Health Network Expansion Program as approved by the Board on June 5, 2024 (JPS Infrastructure Partnership) (ix) Payment made pursuant to that certain TIF Development Agreement between the Board and 251 Peter Smith Tenant, LP for public improvements and infrastructure associated with phase one of the Siddons Place Redevelopment as approved by the Board on October 16, 2024 and amended on December 3, 2025 (Siddons Place Redevelopment) (x) Payment made pursuant to that certain TIF Development Agreement between the Board and 307 W Daggett Development LLC for public improvements associated with a mixed -use development project at 307 West Daggett Avenue as approved by the Board on December 4, 2024 (307 West Daggett Mixed -Use) (xi) Payment made pursuant to that certain TIF Development Agreement between the Board and UT Southwestern or affiliated entity for public infrastructure improvements associated with the UT Southwestern Fort Worth Radiation Oncology Center on Magnolia Avenue as approved by the Board on April 30, 2025 (UT Southwestern Radiation Oncology Center Infrastructure) (xii) Payment made pursuant to that certain TIF Development Agreement between the Board and Royal Capital or affiliated entity for public infrastructure improvements associated with the Evans & Rosedale Development as approved by the Board on April 30, 2025 (Evans & Rosedale Royal Capital) (xiii) Payment made pursuant to that certain TIF Development Agreement between the Board and the City of Fort Worth for non -routine improvements and operations at Fire Station Park located at Maddox TIF Funding Agreement between TIF 4 and City of Fort Worth Page 4 of 10 Avenue and Hemphill Street as approved by the Board on April 30, 2025 (Fire Station Park) (xiv) Payment made pursuant to that certain TIF Development Agreement between the Board and Near Southside, Inc. for public improvements associated with maintenance for streets, streetscapes, and public spaces located within the TIF#4 boundary as approved by the Board on December 3, 2025 (2026 Street, Streetscape, and Public Space Maintenance Agreement) 3. TERM. The term of this Agreement shall be effective as of the date of the TIF Board's approval of Resolution No. TI174-2025-05 ("Effective Date") and expire upon the earlier of (i) the complete performance of all obligations and conditions precedent by the Board and City; (ii) termination by either the Board or City as permitted by this Agreement; or (iii) termination of the TIF District in accordance with Section 311.017 of the TIF Act. 4. SUCCESSORS AND ASSIGNS. City may not assign its rights or obligations under this Agreement to any other party without the advance written approval of the Board, which shall not be unreasonably withheld or delayed, provided that any proposed assignee first executes an agreement with the Board pursuant to which the assignee agrees to be bound by the duties and obligations of City hereunder. This Agreement shall be binding on and inure to the benefit of the parties and their respective successors and permitted assigns. 5. NOTICES. All written notices called for or required by this Agreement shall be addressed to the following, or such other party or address as either parry designates in writing, by certified mail, postage prepaid, or by hand delivery: Board: Board of Directors TIF 4 Attn: TIF Administrator 100 Fort Worth Trail Fort Worth, TX 76102 with a copy to: City of Fort Worth TIF Funding Agreement between TIF 4 and City of Fort Worth Page 5 of 10 City: City of Fort Worth Attn: Assistant City Manager 100 Fort Worth Trail Fort Worth, TX 76102 Attn: Director of Economic Development 100 Fort Worth Trail Fort Worth, TX 76102 6. VENUE AND CHOICE OF LAW. This Agreement shall be construed in accordance with the laws of the State of Texas and applicable ordinances, rules, regulations, or policies of the City. Venue for any action under this Agreement shall lie in the State District Court of Tarrant County, Texas or the United States District Court for the Northern District of Texas, Fort Worth Division. This Agreement is performable in Tarrant County, Texas. 7. COMPLIANCE WITH LEGAL REQUIREMENTS. This Agreement is subject to all applicable federal, state, and local laws, ordinances, rules, and regulations, including, but not limited to, all provisions of the City's Charter and ordinances, as amended, and violation of the same shall constitute a default under this Agreement. In undertaking any work in accordance with this Agreement, City, its officers, agents, servants, employees, contractors, and subcontractors shall comply with all federal, state, and local laws and all ordinances, rules, and regulations of the City, as such laws, ordinances, rules, and regulations exist or may hereafter be amended or adopted (collectively, "Legal Requirements"). 8. SEVERABILITY. If any provision of this Agreement is held to be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired. 9. COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and constitute one and the same instrument. 10. CAPTIONS. The captions to the various clauses of this Agreement are for informational purposes only and shall not alter the substance of the terms and conditions of this Agreement. 11. NO WAIVER. TIF Funding Agreement between TIF 4 and City of Fort Worth Page 6 of 10 The failure of either party to insist upon the performance of any term or provision of this Agreement or to exercise any right granted hereunder shall not constitute a waiver of that parry's right to insist upon appropriate performance or to assert any such right on any future occasion. 12. GOVERNMENTAL POWERS. It is understood that neither the Board nor the City waives or surrenders any of their governmental powers or immunities by execution of this Agreement. 13. FORCE MAJEURE. It is expressly understood and agreed by the parties to this Agreement that if the performance of any obligations hereunder is delayed by reason of war, civil commotion, acts of God, inclement weather, governmental restrictions, regulations, or interferences, unreasonable delays by the City in issuing any permits or certificates of occupancy or conducting any inspections of or with respect to the Project (based on the amount of time that the City customarily requires in undertaking such activities and based on the then -current workload of the City department(s) responsible for undertaking such activities), or delays caused by unforeseen construction or site issues, fire or other casualty, court injunction, necessary condemnation proceedings, acts of the other party, its affiliates/related entities and/or their contractors, or any actions or inactions of third parties or other circumstances which are reasonably beyond the control of the party obligated or permitted under the terms of this Agreement to do or perform the same, regardless of whether any such circumstance is similar to any of those enumerated or not, the party so obligated or permitted shall be excused from doing or performing the same during such period of delay, so that the time period applicable to such design or construction requirement shall be extended for a period of time equal to the period such party was delayed. 14. BOARD REPRESENTATIVE. City understands and agrees that the Board, in its sole discretion, may also appoint certain City staff members, a City department or another entity to serve as its representative in carrying out any or all of the responsibilities of the Board hereunder, and that references to "the Board" in this Agreement mean the Board in its entirety or any such designated representative. 15. NO THIRD PARTY RIGHTS. This Agreement is solely for the benefit of the parties hereto and is not intended to create or grant any rights, contractual or otherwise, to any other person or entity. 16. ENTIRETY OF AGREEMENT. TIF Funding Agreement between TIF 4 and City of Fort Worth Page 7 of 10 This Agreement, including any exhibits attached hereto and any documents incorporated herein by reference, contains the entire understanding and agreement between the Board and the City, including respective their assigns and successors in interest, as to the matters contained herein. Any prior or contemporaneous oral or written agreement is hereby declared null and void to the extent in conflict with any provision of this Agreement. This Agreement shall not be amended unless executed in writing by both parties and approved by the Board in an open meeting held in accordance with Chapter 551 of the Texas Government Code. TIF Funding Agreement between TIF 4 and City of Fort Worth Page 8 of 10 IN WITNESS WHEREOF, the undersigned have caused this Agreement to be executed effective as of the Effective Date: BOARD OF DIRECTORS OF TAX CITY OF FORT WORTH INCREMENT REINVESTMENT ZONE NUMBER TIF FOUR, CITY OF FORT WORTH, TEXAS: efivlk Elizabeth Beck (Jul 11, 2026 11:57:44 CDT) i i-wa &UhG Yoff Dana Burghdoff (Ju 10, 2026 0 :57 Elizabeth Beck Dana Burghdoff Chair Assistant City Manager Resolution No. TIF4-2025-05 (April 30, 2025) M&C No: 26-0413 Contract Compliance Manager: By signing, I acknowledge that I am the person responsible for the monitoring and administration of this contract, including ensuring all performance and reporting requirements. Ma. Isabel Villegas (Jul 9, 2026 16:32:43 CDT) Name of Employee _Economic Development Specialist _ Title APPROVED AS TO FORM AND LEGALITY: By: i qua Trey Qualls Assistant City Attorney 4 aoonu pF FORT °°a ATTEST: �_� , °° °9 �e By: �vx.� OanIl�� 65�a Jannette Goodall City Secretary TIF Funding Agreement between TIF 4 and City of Fort Worth Page 9 of 10 OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX Exhibit A - Project The Project supplements City of Fort Worth funding as necessary to implement miscellaneous and non -routine initiatives at Fire Station Park, located at Maddox Avenue and Hemphill Street, including: Landscaping enhancements, including new plantings, initial watering, tree replacement, and ongoing tree maintenance. Signage improvements and repairs, including wayfinding elements and partner recognition. Security support initiatives led by Fire Station Park Community Center in coordination with FWPD, Community Crossroads, and additional community partners. Legal Description of Property: Bellevue Hill Addition Block: S Lot: I TIF Funding Agreement between TIF 4 and City of Fort Worth Page 10 of 10 CITY COUNCIL AGENDA Create New From This M&C DATE: 6/9/2026 REFERENCE NO.: **M&C 26-0413 LOG NAME: CODE: C TYPE: CONSENT PUBLIC HEARING: Official site of the City of Fort Worth, Texas FoR� H 80SOUTHSIDE TIF #4 NO SUBJECT. (CD 9) Authorize Execution of a Tax Increment Funding Agreement with Tax Increment Financing District #4 (Southside/Medical District) in the Amount of $50,000.00 for Non - Routine Improvements and Operations at Fire Station Park; Authorize Acceptance of Funds in the Amount of $50,000.00 from Tax Increment Financing District #4 (Southside/Medical District); and Adopt Appropriation Ordinance RECOMMENDATION: It is recommended that the City Council: 1. Authorize execution of a Tax Increment Funding Agreement with Tax Increment Financing District #4 (Southside/Medical District) for non -routine improvements and operations at Fire Station Park in the amount of $50,000.00; 2. Authorize acceptance of funds from Tax Increment Financing District #4 (Southside/Medical District) in the amount of $50,000.00 for non -routine improvements and operations at Fire Station Park; and 3. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the General Fund in the amount of $50,000.00 transferred from the Tax Increment Financing District #4 (Southside/Medical District) for the purpose of funding non -routine improvements and operations at Fire Station Park. DISCUSSION: The purpose of this Mayor and Council Communication (M&C) is to authorize execution of a Funding Agreement with Tax Increment Financing District #4 (Southside/Medical District) for security services to be provided at Fire Station Park in the amount of $50,000.00 and authorize acceptance of funding from Tax Increment Financing District #4 (Southside/Medical District) and appropriate $50,000.00 in the General Fund for the Park and Recreation Department (PARD) for security services. Funding is budgeted in the Tax Increment Financing District #4 (Southside/Medical District) Fund for PARD for the purpose of security services at Fire Station Park. Fire Station Park is located in COUNCIL DISTRICT 9. FISCAL INFORMATION/CERTIFICATION: The Director of Finance certifies that funds are currently available in the Tax Increment Financing District #4 (Southside/Medical District) Fund and upon approval of the above recommendations and adoption of the attached appropriation ordinance, funds will be available in the General Fund as appropriated. Prior to an expenditure being incurred, the Park and Recreation Department has the responsibility of verifying the availability of funds. TO Fund Department Account Project Program �ActivityFBudget Reference # Amount ID ID I Year I (Chartfield 2) FROM Fund 1 Department Account Project Program Activity Budget Reference # Amount 1 ID ID Year (Chartfield 2) Submitted for City Manager's Office by_ Dana Burghdoff (8018) Originating Department Head: Teresa Thomason (5708) Additional Information Contact: ATTACHMENTS 250430_TIF 4 Res _TIF4-2025-05_FireStationParkMaint$50000.00.pdf (Public) 80SOUTHSIDE TIE #4 (1).xlsx (CFW Internal) 80SOUTHSIDE TIF #4 funds avail.docx (CFW Internal) ORD.APP 80SOUTHSIDE TIF #4 10100 A026(R3).docx (Public) FORT WORTH. City Secretary's Office Contract Routing & Transmittal Slip Contractor's Name: City of Fort Worth Subject of the Agreement: TIF 4 non -routine improvements and operations for Fire Station Park M&C Approved by the Council? * Yes 0 No ❑ If so, the M&C must be attached to the contract. Is this an Amendment to an Existing contract? Yes ❑ No 0 If so, provide the original contract number and the amendment number. Is the Contract "Permanent"? *Yes 0 No ❑ If unsure, see backpage for permanent contract listing. Is this entire contract Confidential? *Yes ❑ No 0 If only specific information is Confidential, please list what information is Confidential and the page it is located. Effective Date: 4/30/2025 If different from the approval date. Expiration Date: If applicable. Is a 1295 Form required? * Yes ❑ No 21 *If so, please ensure it is attached to the approving M&C or attached to the contract. Project Number: If applicable. *Did you include a Text field on the contract to add the City Secretary Contract (CSC) number? Yes 0 No ❑ Contracts need to be routed for CSO processing in the followingorder: rder: 1. Katherine Cenicola (Approver) 2. Jannette S. Goodall (Signer) 3. Allison Tidwell (Form Filler) *Indicates the information is required and if the information is not provided, the contract will be returned to the department.