HomeMy WebLinkAbout28520-05-2026 - City Council - OrdinanceORDINANCE NO. 28520-05-2026
AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE
CITY OF FORT WORTH AS "TAX ABATEMENT
REINVESTMENT ZONE NUMBER 117, 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, Celestica LLC, ("Company"), in addition to other employment and
salary commitments, will develop two electronics manufacturing facilities 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
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
Ordinance Designating Tax Abatement Reinvestment Zone Number 117, City of Fort Worth, Texas
Page 1 of 3
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 117, City of Fort Worth, Texas." The Improvements are eligible for
commercial/industrial tax abatements per Section 6 of the City's Tax Abatement Policy as
a Mega Project.
Ordinance Designating Tax Abatement Reinvestment Zone Number 117, City of Fort Worth, Texas
Page 2 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 maybe 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.
ADOPTED AND EFFECTIVE: Mav 12.2026
APPROVED AS TO FORM
AND LEGALITY:
By: Michael Doss (Jun 9, 2026 11:05:49 CDT)
Michael Doss
Senior Assistant City Attorney
M&C: 26-0380
ATTESTED BY:
Jannette S. Goodall
City Secretary
Ordinance Designating Tax Abatement Reinvestment Zone Number 117, City of Fort Worth, Texas
Page 3 of 3
EXHIBIT "A"
BOUNDARY DESCRIPTION OF THE ZONE
PROPERTY 1
BEING A TRACT OF LAND SITUATED IN THE T.J. BATES SURVEY, ABSTRACT
NUMBER 206, THE P. MATTHEWS SURVEY, ABSTRACT NUMBER 865, AND THE A.
HENDERSON SURVEY, ABSTRACT NUMBER 596, CITY OF FORT WORTH, DENTON
COUNTY, TEXAS, BEING ALL OF THAT TRACT OF LAND DESCRIBED BY DEED TO
ALLIANCECENTER NORTH NO. 4, LTD., RECORDED IN INSTRUMENT NUMBER 2022-
96336, REAL PROPERTY RECORDS, DENTON COUNTY, TEXAS AND BEING MORE
PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING AT A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED "PELOTON"
FOUND, AT THE NORTHWEST CORNER OF SAID ALLIANCE CENTER NORTH NO. 4
TRACT, BEING THE SOUTHWEST CORNER OF LITSEY ROAD(A 110 FOOT RIGHT-OF-
WAY), RECORDED IN INSTRUMENT NUMBER 2021-15, SAID REAL PROPERTY
RECORDS;
THENCE WITH THE SOUTH LINE OF SAID LITSEY ROAD THE FOLLOWING BEARINGS
AND DISTANCES:
S 59°38'43"E, 530.68 FEET, TO A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED
"PELOTON" FOUND, AT THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 798.59 FEET, THROUGH A
CENTRAL ANGLE OF 23038-48", HAVING A RADIUS OF 1934.99 FEET, THE LONG
CHORD WHICH BEARS S 47049'21 "E, 792.94 FEET, TO A 5/8 INCH IRON ROD WITH
PLASTIC CAP STAMPED "PELOTON" FOUND;
S 35059'56"E, 93.56 FEET, TO A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED
"PELOTON" FOUND, AT THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 173.56 FEET, THROUGH A
CENTRAL ANGLE OF 07051-40", HAVING A RADIUS OF 1265.00 FEET, THE LONG
CHORD WHICH BEARS S 39055'46"E, 173.42 FEET, TO A 5/8 INCH IRON ROD WITH
PLASTIC CAP STAMPED "PELOTON" FOUND;
S 44017'38"E, 18.36 FEET, TO A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED
"PELOTON" FOUND, AT THE BEGINNING OF A CURVE TO THE RIGHT;
THENCE WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 131.12 FEET,
THROUGH A CENTRAL ANGLE OF 83028-42", HAVING A RADIUS OF 90.00 FEET, THE
LONG CHORD WHICH BEARS S 02057'01 "E, 119.83 FEET, TO A 5/8 INCH IRON ROD
WITH PLASTIC CAP STAMPED "PELOTON" FOUND, IN THE WEST RIGHT-OF-WAY
LINE OF NORTH BEACH STREET (A 110 FOOT RIGHT-OF-WAY) RECORDED IN
INSTRUMENT NUMBER 2019-424, REAL PROPERTY RECORDS, DENTON COUNTY,
TEXAS;
THENCE S 38046'55"W, 145.65 FEET, WITH SAID WEST RIGHT-OF-WAY LINE TO A 5/8
INCH IRON ROD WITH PLASTIC CAP STAMPED "PELOTON" FOUND, AT THE
BEGINNING OF A CURVE TO THE LEFT;
THENCE CONTINUING WITH SAID WEST RIGHT-OF-WAY LINE AND WITH SAID
CURVE TO THE LEFT, AN ARC DISTANCE OF 463.51 FEET, THROUGH A CENTRAL
ANGLE OF 06031-59", HAVING A RADIUS OF 4065.00 FEET, THE LONG CHORD WHICH
BEARS S 35031'01"W, 463.26 FEET, TO A 5/8 INCH IRON ROD WITH PLASTIC CAP
STAMPED "PELOTON" FOUND, AT THE NORTHEAST CORNER OF LOT 3, BLOCK 1,
ALLIANCE CENTER NORTH, AN ADDITION TO THE CITY OF FORT WORTH,
RECORDED IN INSTRUMENT NUMBER 2018-496, REAL PROPERTY RECORDS,
DENTON COUNTY, TEXAS;
THENCE N 57044'57"W, 253.96 FEET, DEPARTING SAID WEST RIGHT-OF-WAY LINE,
WITH THE NORTH LINE OF SAID LOT 3, TO A 5/8 INCH IRON ROD WITH PLASTIC CAP
STAMPED "PELOTON" FOUND;
THENCE S 88051'47"W, 1550.84 FEET, WITH SAID NORTH LINE, TO A 5/8 INCH IRON
ROD WITH PLASTIC CAP STAMPED "PELOTON" FOUND, IN THE EAST RIGHT-OF-
WAY LINE OF INTERSTATE HIGHWAY 35W (NORTH FREEWAY), RECORDED IN
TEXAS DEPARTMENT OF TRANSPORTATION - DONATION DEED, INSTRUMENT
NUMBER 2017-45970, REAL PROPERTY RECORDS, DENTON COUNTY, TEXAS;
THENCE WITH SAID EAST RIGHT-OF-WAY LINE OF SAID INTERSTATE HIGHWAY
35W, THE FOLLOWING BEARINGS AND DISTANCES:
N 30021'09"E, 191.80 FEET, TO A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED
"PELTON" SET;
S 59038'21"E, 15.00 FEET, TO A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED
"PELTON" SET;
N 30021'20"E, 294.26 FEET, TO A TEXAS DEPARTMENT OF TRANSPORTATION
MONUMENT FOUND;
N 59038'21"W, 15.00 FEET, TO A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED
"PELTON" SET;
THENCE N 30021'20"E, 1284.61 FEET TO THE POINT OF BEGINNING AND CONTAINING
1,966,448 SQUARE FEET OR 45.143 ACRES OF LAND MORE OR LESS.
PROPERTY 2
BEING A TRACT OF LAND SITUATED IN THE A. HENDERSON SURVEY, ABSTRACT
NUMBER 596, CITY OF FORT WORTH, DENTON COUNTY, TEXAS, BEING A PORTION
OF LOT 2, BLOCK 3, ALLIANCE CENTER NORTH, AN ADDITION TO THE CITY OF
FORT WORTH, RECORDED IN INSTRUMENT NUMBER 2022-419, PLAT RECORDS,
DENTON COUNTY, TEXAS, AND A PORTION OF THAT TRACT OF LAND DESCRIBED
BY DEED TO ALLIANCE CENTER NORTH NO.6, LTD., RECORDED IN INSTRUMENT
NUMBER 2020-125895, AND ALL OF THAT TRACT OF LANDDESCRIBED BY DEED TO
ALLIANCE CENTER NO. 6., LTD, RECORDED IN INSTRUMENT NUMBER 2020-125898,
REAL PROPERTY RECORDS, DENTON COUNTY, TEXAS AND BEING MORE
PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING AT A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED "PELOTON"
FOUND AT THE NORTHWEST CORNER OF LOT 3, BLOCK 3, ALLIANCE CENTER
NORTH, AN ADDITION TO THE CITY OF FORT WORTH, RECORDED IN INSTRUMENT
NUMBER 2019-369, BEING THE SOUTHWEST CORNER OF THAT TRACT OF LAND
DESCRIBED BY DEED TO ALLIANCE CENTER NORTH NO. 6 LTD., RECORDED IN
INSTRUMENT NUMBER 2020-125898, AND BEING IN THE EAST RIGHT-OF-WAY LINE
OF NORTH BEACH STREET (A VARIABLE WIDTH RIGHT-OF-WAY), RECORDED IN
INSTRUMENT NUMBER 2021-14, ALL OF SAID COUNTY RECORDS, AND BEING THE
BEGINNING OF A CURVE TO THE LEFT;
THENCE WITH THE EAST RIGHT-OF-WAY LINE OF SAID NORTH BEACH STREET THE
FOLLOWING COURSES AND DISTANCES:
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 54.18 FEET, THROUGH A
CENTRAL ANGLE OF 02036-31", HAVING A RADIUS OF 1190.00 FEET, THE LONG
CHORD WHICH BEARS N 07024'51"E, 54.17 FEET, TO A 5/8 INCH IRON ROD WITH
PLASTIC CAP STAMPED "PELOTON" FOUND;
N 06006'33 "E, 193.01 FEET, TO A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED
"PELOTON" FOUND, AT THE BEGINNING OF A CURVE TO THE RIGHT;
WITH SAID CURVE TO THE RIGHT, AN ARC DISTANCE OF 296.91 FEET, THROUGH A
CENTRAL ANGLE OF 15019-33 ", HAVING A RADIUS OF 1110.00 FEET, THE LONG
CHORD WHICH BEARS N 13046'22"E, 296.02 FEET, TO A 5/8 INCH IRON ROD WITH
PLASTIC CAP STAMPED "PELOTON" FOUND;
N 21026'10"E, 216.46 FEET, TO A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED
"PELOTON" FOUND, AT THE BEGINNING OF A CURVE TO THE LEFT;
WITH SAID CURVE TO THE LEFT, AN ARC DISTANCE OF 343.12 FEET, THROUGH A
CENTRAL ANGLE OF 16031-13 ", HAVING A RADIUS OF 1190.01 FEET, THE LONG
CHORD WHICH BEARS N 13010'33 "E, 341.93 FEET, TO A 5/8 INCH IRON ROD WITH
PLASTIC CAP STAMPED "WESTWOOD" SET;
THENCE N 90000'00"E, DEPARTING THE EAST RIGHT-OF-WAY LINE OF SAID NORTH
BEACH STREET, ACROSS SAID ALLIANCE CENTER NORTH NO. 6, TRACT, 578.21
FEET, TO A 5/8 INCH IRON ROD WITH PLASTIC CAP STAMPED "WESTWOOD" SET;
THENCE N 00000'00"E, 428.03 FEET, ACROSS SAID ALLIANCE CENTER NORTH NO. 6
TRACT, TO ITS NORTH LINE;
THENCE WITH THE NORTH LINE OF SAID ALLIANCE CENTER NORTH NO. 6,
LTD.TRACT THE FOLLOWING BEARINGS AND DISTANCES:
N 8905 POKE, 879.00 FEET, TO A 5/8 INCH IRON ROD FOUND;
S 00007'18"W, 47.09 FEET, TO A 5/8 INCH IRON ROD FOUND;
S 800?43'38"E, 212.12 FEET, TO A 5/8 INCH IRON ROD FOUND;
N 89020'38"E, 156.30 FEET, TO A 5/8 INCH IRON ROD FOUND, IN THE WEST LINE OF
BLOCK 1, CHADWICK FARMS ADDITION, AN ADDITION TO THE CITY OF FORT
WORTH, RECORDED IN CABINET X, PAGE 362, PLAT RECORDS, DENTON COUNTY,
TEXAS;
THENCE S 00009' 10"W, 1158.05 FEET, WITH SAID WEST LINE, TO A 5/8 INCH IRON ROD
WITH PLASTIC CAP STAMPED "PELOTON" FOUND AT THE NORTHEAST CORNER OF
LOT 4, BLOCK 3, ALLIANCE CENTER NORTH, AN ADDITION TO THE CITY OF FORT
WORTH, RECORDED IN INSTRUMENT NUMBER 2019-369, REAL PROPERTY
RECORDS, DENTON COUNTY, TEXAS;
THENCE S 89026'20"W, 377.89 FEET, WITH THE NORTH LINE OF SAID LOT 4 TO A 5/8
INCH IRON ROD WITH PLASTIC CAP STAMPED "PELOTON" FOUND;
THENCE S 00033'37"E, 245.39 FEET, WITH SAID NORTH LINE TO A 5/8 INCH IRON ROD
WITH PLASTIC CAP STAMPED "PELOTON" FOUND;
THENCE S 89037'14"W, AT 114.03 FEET, PASSING THE NORTHEAST CORNER OF LOT
3, BLOCK 3, ALLIANCE CENTER NORTH, IN ALL 1699.28 FEET TO THE POINT OF
BEGINNING AND CONTAINING 2,495,129 SQUARE FEET OR 57.280 ACRES OF LAND
MORE OR LESS.
FORT NORTH Tax Abatement Reinvestment Zone No. 117
15301 and 15500 N Beach - 45.143 and 57.28 acres
Fort Worth TX 76052 "Exhibit X'
Copyright 2026 City of Fort Worth. Unauthorized reproduction is a violation of applicable laws. This product is for informational purposes and may not have been
prepared for or be suitable for legal engineering or surveying purposes. It does not represent an on -the -ground survey and represents only the appropriate relative
location of property boundaries. The City of Fort Worth assumes no responsibility for the accuracy of said data.
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 05/12/26 M&C FILE NUMBER: M&C 26-0380
LOG NAME: 17CELESTICA TA
SUBJECT
(CD 10) Conduct Public Hearing and Adopt an Ordinance Designating Tax Abatement Reinvestment Zone No. 117; and Authorize the Execution of
a Ten -Year Tax Abatement Agreement with Celestica LLC, or an Affiliate, for the Development of Two Electronics Manufacturing Facilities on
Properties within Tax Abatement Reinvestment Zone No. 117 at 15301 N Beach Street and 15500 N Beach Street, Fort Worth, Texas, Denton
County
(PUBLIC HEARING - a. Staff Available for Questions: Cherie Gordon; b. Public Presentations; c. Council Action: Close Public Hearing and Act on
M &C)
RECOMMENDATION:
It is recommended that the City Council:
1. Conduct a public hearing concerning the designation of Tax Abatement Reinvestment Zone No. 117, City of Fort Worth, Texas, Denton
County, for property located at 15301 and 15500 N Beach Street, consisting of approximately 45 and 57 acres of land respectively, for the
development of two electronics manufacturing facilities by Celestica LLC, or an affiliate;
2. Find that the intended electronics manufacturing facilities developments and related improvements, as set forth in more detail below, are
feasible and practical and would be a benefit to the land to be included in Tax Abatement Reinvestment Zone No. 117 and to the City after
the expiration of any tax abatement agreements;
3. Adopt the attached ordinance designating Tax Abatement Reinvestment Zone No. 117, City of Fort Worth, Texas, pursuant to and in
accordance with Chapter 312 of the Texas Tax Code;
4. Find that the proposed Tax Abatement Agreement terms meet the criteria and guidelines set forth in the City of Fort Worth's General Tax
Abatement Policy (Resolution No. 6222-12-2025); and
5. Authorize the execution of a ten-year Tax Abatement Agreement with Celestica LLC, or an affiliate, for the development of two electronics
manufacturing facilities on properties at 15301 and 15500 N Beach Street, Fort Worth, Texas, Denton County, in Tax Abatement
Reinvestment Zone No. 117.
DISCUSSION:
The purpose of this Mayor and Council Communication is to (1) designate a new Tax Abatement Reinvestment Zone (TARZ No. 117); and
(2) authorize a ten-year Tax Abatement Agreement with Celestica LLC, or an affiliate (collectively, the Company) for the development of
two electronics manufacturing facilities within TARZ No. 117.
Company is an electronics manufacturing company based out of Toronto, ON, Canada. Company is proposing to develop two new facilities to
manufacture advanced electronic equipment, consisting of a building of approximately 371,327 square feet on approximately 45 acres at 15301 N
Beach Street (Site 1), and a building of approximately 316,288 square feet on approximately 57 acres at 15500 N Beach Street, Fort Worth,
Texas (Site 2) (collectively, the Project Sites).
The City proposes to enter into a tax abatement agreement with the Company to facilitate development of the Project Site. The tax abatement will
be tied to the amount of investment made by the Company and satisfaction of other project and spending requirements as follows:
Investment and Comnanv Commitments:
1. Company must expend a minimum of $400,000,000.00 in total construction costs for real property improvements at the Project Sites,
including:
a. $176,000,000 in total construction costs for real property improvements at Site 1 on or before December 31, 2027;
b. $224,000,000 in total construction costs for real property improvements at Site 2 on or before December 31, 2028;
2. Company must install a minimum of $476,000,000 in taxable Business Personal Property (BPP) that is new to the City at the Project Sites,
including:
a. $224,000,000.00 in new taxable BPP at Site 1 on or before January 1, 2028;
b. $252,000,000.00 in new taxable BPP at Site 2 on or before January 1, 2029;
3. Company will forfeit the tax abatement if the total investment for real property improvements and BPP is not timely delivered pursuant to the
terms of the tax abatement agreement, with the following exceptions:
a. In the event that Company fails to complete the real property improvements for either or both of Site 1 and Site 2 before the respective
completion deadlines but exceeds the BPP commitment (as discussed above) for the Project Site in an amount greater than or equal to the
difference between the required real property improvements and actual real property improvements made, the Agreement will not be in
default and no penalty will be applied to any tax abatements associated with the Project except as otherwise provided for under the
Agreement;
b. In the event that Company fails to complete the installed taxable BPP for either or both of Site 1 and Site 2 before the respective
completion deadlines but exceeds the real property commitment (as discussed above) for the Project Site in an amount greater than or
equal to the difference between the required real property improvements and actual real property improvements made, the Agreement will
not be in default and no penalty will be applied to any tax abatements associated with the Project except as otherwise provided for under the
Agreement;
c. If Company expends up to ten percent (10%) less than the combined value of the required real property improvements and the required
taxable BPP for either or both of Site 1 and Site 2, the abatement rate (as discussed below) will be reduced by a proportional amount.
d. Company may, without penalty, expend an amount up to ten percent (10%) less than the required amount on real property improvements
and installed taxable BPP for one Site so long as Company expends an amount that is at a minimum equal to that difference over the
required real property improvements and installed taxable BPP for the other Site;
4. Company must provide a minimum of 490 additional full-time jobs at the Project Site on or before December 31, 2028, and an additional
1,225 full-time jobs at the Project Site on or before December 31, 2029 and maintain that level for the term of the tax abatement agreement,
with an average salary of at least $75,000.00 (Employment Commitments). The annual tax abatement will be forfeited for any year in which
the Employment Commitments are not met; and
5. Company voluntarily commits to expend by the project completion deadline at least 30% of all real property improvement costs, both hard
and soft costs, with Small Businesses (Small Business Commitment). "Small Business" means a business entity located in Tarrant, Wise,
Johnson, Parker, or Denton County that holds certification as a small business from an organization approved by the City Manager (City
Ordinance No. 27832-08-2025). If Company does not meet the Small Business Commitment, subject to availability and terms of the tax
abatement agreement, the tax abatement shall be reduced by 10%.
Citv Commitments:
1. The City will enter into a tax abatement agreement with the Company for a term of ten years;
2. The amount of incremental City ad valorem taxes on real property and BPP at the Project Site to be abated in a given year will be equal to up
to eighty percent (80%).
The tax abatement is subject to Company meeting the performance requirements stated above and as specifically detailed within the Tax
Abatement Agreement.
The project will result in an estimated $52,179,002.00 in new incremental property tax to the City associated with the project being reduced by
$41,743,201.00, resulting in the collection of $10,435,800.00 in net new incremental property tax revenue over the ten-year period following project
completion.
Reinvestment Zone:
TARZ No. 117 will consist of approximately 45 acres located at 15301 N Beach Street Fort Worth, Texas, and approximately 57 acres located at
15500 N Beach Street and is more particularly described in Exhibit A to the attached Ordinance.
Designating this area as a tax abatement reinvestment zone pursuant to Chapter 312 of the Texas Tax Code allows the City the option to enter into
a tax abatement agreement with the Company to help facilitate development on the Project Site.
Pursuant to Chapter 312 of the Texas Tax Code, a public hearing must be conducted regarding the creation or expansion of a tax abatement
reinvestment zone. Notice of this hearing was delivered to the presiding officer of the governing body of each affected taxing unit and published in
a newspaper of general circulation at least seven days prior to this hearing.
Pursuant to Chapter 312 of the Texas Tax Code, the area within the proposed TARZ No. 117 meets the statutory criteria for designation as a tax
abatement reinvestment zone because the area is likely, as a result of the designation, to contribute to the retention or expansion of primary
employment or to attract major investment in TARZ No. 117 that would be a benefit to the property and that would contribute to the economic
development of the City. Further, the proposed improvements and investments at the Project Site are feasible and practical and would be a benefit
to the land to be included in TARZ No. 117 and to the City after the expiration of any tax abatement agreement.
The term of TARZ No. 117 will be five years from the date of adoption of the attached Ordinance and may be renewed for periods not to exceed
five years each unless otherwise allowed by law.
The project is located in COUNCIL DISTRICT 10.
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that approval of this Tax Abatement Agreement will have no material effect on the Fiscal Year 2026 Budget. While
no current year impact is anticipated from this action, any effect on revenues will be incorporated in long-term financial forecast upon the Tax
Abatement being officially granted.
Submitted for Citv Manaaer's Office bv: Dana Burghdoff 8018
Oriainatina Business Unit Head: Jessica Rogers 2663
Additional Information Contact: Cherie Gordon 6053