HomeMy WebLinkAboutContract 28907 a ry SECRETARY
'
CO a 03 NTRACT NO
AMENDMENT NO. 2 TO
CITY OF FORT WORTH AND TARRANT COUNTY HOSPITAL DISTRICT
AGREEMENT TO PARTICIPATE IN
TAX INCREMENT REINVESTMENT ZONE NUMBER THREE,
CITY OF FORT WORTH, TEXAS
This AMENDMENT N . 2 TO CITY OF FORT WORTH AND TARRANT
COUNTY HOSPITAL DISTRICT AGREEMENT TO PARTICIPATE IN TAX
INCREMENT REINVESTMENT ZONE NUMBER THREE, CITY OF FORT
WORTH, TEXAS ("Amendment") is entered into by and between the CITY OF
FORT WORTH, TEXAS (the "City"), a home rule municipality organized under the
laws of the State of Texas and acting by and through Reid Rector, its duly authorized
Assistant City Manager and TARRANT COUNTY,TEXAS ("Taxing Unit"), acting by
and through Harold Samuels, the duly authorized Chairman of the Tarrant, County
Hospital District Board of Managers,
The City and Taxing it hereby agree that the following statements are true and
correct and constitute the basis upon which the City and Taxing Unit have entered into
this Amendment:
A. On December 19, 1995 the City Council of the City adopted Ordinance
No. 12324 designating certain real property in the downtown. area of the City as Tax
Increment Reinvestment Zone Number Three, City of Fort Worth, Texas (the "Original
TIF"). Ordinance No. 12324 is attached hereto as Exhibit "A".
B. On or about March 28, 1996, the City and Taxing Unit entered into an
agreement under which Taxing Unit agreed. to deposit up to one hundred percent (100%)
of Taxing Unit's Tax Increment into the TIF District's Tax Increment Fund
("Participation Agreement"), as specifically provided in that Participation Agreement,
The Participation Agreement is attached hereto as Exhibit "B".
C. On February 17, 2003, the City Council of the City adopted Ordinance
No, 15442 (the "Ordinance") changing the boundaries of Tax Reinvestment Zone #3
(which includes the Original TIF and the amended boundaries as set forth in Ordinance
Nos. 14795, 14839, and 15317) and providing for the amended TIF Zone (the"Amended
TIF"), said Ordinance attached hereto as Exhibit"C".
D. After hearing a presentation by a representative of the City and the
Downtown TIF District regarding the tentative plans for additional development or
redevelopment of the Amended TIF and an estimate of the general impact of the
Amended TIF on property values and tax revenues, Taxing Unit's Board of Managers has
been requested to approve the boundary changes as set forth in the Ordinance attached
hereto as Exhibit "C" and to increase the maximum dollar amount of project costs to be
...............
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A mendment No.2 iv'Ywyant Couoy p ....alb;... ....
Participation Agreement re:Downtown TIF
Page I re a
I
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financed by'raxing Unit's Tax increment into the Tax Increment Fund, which the parties
hereto wish to reduce to writing through this Amendment,
NOW, THEREFORE, the City and Taxing C. for and in consideration. of the
to and conditions set forth herein., do hereby contract, covenant and agree as follows:
1. The following terms provided. in Section I of the Participation Agreement are
hereby amended to be defined as follows:
11TIF District" shall can Tax hicrement Reinvestment Zone Number
Three, City of Fort Worth, Texas, designated by City Ordinance No.
12324 on December 19, 1995, expanded by City Ordinance No. 14839 on
October 30, 2001, and amended by City Ordinance No. 15442 on February
17, 2003, which Ordinances are incorporated herein by reference for all
purposes.
"Tax Increment Base" shall mean (i) the total appraised value of all real
property taxable by Taxing Unit and located in the Original. TIF on
January 1, 1995, (ii) the total appraised value of all real property taxable
by Taxing Unit and located in the Expanded TIF on January 1, 2001 and
(in) less the total appraised value of all real property deleted in the
Amended TIF on February 17, 2003,
2. Exhibit "C", Section II.B., Project Cost Limitation, of the Participation Agreement
is hereby amended as follows.
The maximum amount of"prqject costs" (as defined in Section 311.002 of the Act)
that may be paid through Tax Increment deposits directly mid/or financed through
the issuance of bonds or other obligations of the City secured by Tax Increment
deposits is a total of$72,000,000, which represents $50,000,000 in project costs as
set forth in the original Participation. Agreement, and an additional $22,000,000
reserved solely for new project costs or other financial obligations related directly
to the Bank One Tower redevelopment and the Tandy Center redevelopment.
Further, Tarrant Comity Hospital [district will not participate in the funding of any
project costs or other financial.obligations committed to by the Downtown TIF after
February 25, 2003, except those related directly to the Bank One Tower
redevelopment and the Tandy Center redevelopment as noted above, even if those
projects could be funded within the $50,000,000 maximum amount as provided in
the original Participation Agreenient,unless funding of such additional project costs
is granted by specific approval of the Tarrant County Hospital District Board of
Mmiagers. In regards tote payment of project costs from the additional
$22,000,000 reserved solely for those costs associated with the Bank One Tower
redevelopment and the Tandy Center redevelopment projects as noted above,
Tarrant County Hospital District directs that no one redevelopment project take
priority over the other and that each shall share equally in available TIF funding.
Arnendment No,2 iu'Varrant County
Participation.A. reerneot re:Downtown TIF
Page 2
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All other terms set forth in Section I of the Participation Agreement and their respective
definitions, as well as all other provisions and conditions of the Participation Agreement,
shall remain in full force and effect.
3. Capitalized terms used but not identified in this Amendment shall have the same
meanings assigned to the in the Participation Agreement.
4. In accordance with Section VHI of the Participation Agreement, a copy of this
Amendment will be provided to all TIF Taxing Units.
5. This Amendment contains the final written expression of the City and Taxing
Unit with respect to the subject matter hereof This Amendment may be executed in
multiple counterparts, each of which shall be considered an original, but all of which
shall constitute one instrument.
EXECUTED this 11-!%ay of 2003:
CITY OF FORT WORTH, TEXAS: TARRANT COUNTY HOSPITAL
DISTRICT:
By:_.J-0i.L,ieL-12m�L........ y®
Reid Rector 'Harold"Sainuel&s6�t��-
Assistant City Manager Chairman, Tarrant County Hospital
District Board of Managers
ATTEST: ATTEST:
By: By:
Gloria Pear n Ronald Patterson
City Secret Secretary
APPROVED AS TO FORM/LEGALI"ry: APPROVED AS TO FORM*:
Peter Vaky Allan S. Graves
Assistant City Attorney Assistant District Attorney
Amendment No, 2 to Tarrant County
Participation Agreement re:Downtown TIC
Page 3
..............
...............4PEsICrc� fit"
F, ., I
*By law,the District Attorney's Office may only advise or approve contracts or legal documents on behalf of its clients.
It may not advise or approve a contract or legal document on behalf of other parties. Our view of this document was
conducted solely from the legal perspective of our client. Our approval of this document was offered solely for the
benefit of our client. Other parties should not rely on this approval and should seek review and approval by their own
respective attorney(s).
Amendment No.2 to Tarrant County
Participation Agreement re:Downtown TIF
Page 4
he
EXHIBIT "A"
IL
ORDINANCE NO._IL-2
AN ORDINANCE DESIGNATING A CERTAIN AREA AS TAX INCREMENT
REINVESTMENT ZONE NUMBER THREE, CITY OF FORT WORTH, TEXAS,
ESTABLISHING A BOARD OF DIRECTORS FOR SUCH REINVESTMENT ZONE,
AND OTHER MATTERS RELATED THERETO.
WHEREAS, the City Council of the City of Fort Worth, Texas
(the "City" ) was presented a petition submitted by the owners
constituting at least fifty percent (50%) of the appraised value of
the property hereinafter described requesting that said property be
designated as a "reinvestment zone, " as authorized by the Tax '
Increment Financing Act, Chapter 311 of the Texas Tax Code,
Vernon's Texas Codes Annotated (the 'Act" ) ; and
WHEREAS, the City Council of the City desires to promote the
development and/or redevelopment of the property described in such
petition and within the City's jurisdiction, by the cre.ation of a
reinvestment zone as authorized by the Act; and '
WHEREAS, in compliance with the Act, the City called a public
hearing to hear public comments on the creation of the proposed
reinvestment zone and its benefits to the City and to the property
in the proposed reinvestment zone; and
WHEREAS, in compliance with the Act, notice of such public
hearing was published in the Fort Worth Star-Telegram, a- daily
paper of general circulation in the City, such publication date
being December 11, 1995, a date not later than seven (7 ) days prior
to the date of the public hearing; and
WHEREAS, notice of such public hearing, in required form and
substance, was provided in writing to the governing, body of each
taxing unit that levies real property taxes in the proposed
reinvestment zone, and each such taxing unit has adopted a
E i)bi.. A
resolution wherein they have agreed, pursuant to Section 311. 003 (e)
of the Act, to waive the requirement for sixty days notice prior to
such public hearing; and
WHEREAS, in compliance with the. Act, the City made a formal
presentation, i
foregoing matters relating to the creation of the reinvestment
zone, and opponents, if any, of the reinvestment zone appeared to
contest matters relating to the creation of the reinvestment zone;
NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS:
SECTION 1: That the facts and recitations contained in the
preamble of this ordinance are hereby found and declared to be to
and correct.
SECTION 2 : That the City Council, after conducting such
hearing and having heard such evidence and testimony, has made the
following findings and determinations as on the evidence and
testimony presented to it:
(a) That the public hearing on adoption of the reinvestment
zone has been properly called, held, and conducted and
that notice of such hearing has b6en published as
required by law.
(b) That all taxing units levying real property taxes within
the reinvestment zone received notice of the City's
intention to create the reinvestment zone and of the
public hearing and that all such taxing units, pursuant
to Section 311 . 003 (e) of the Act, have agreed by
resolution to waive the requirement for sixty days notice
prior to such public ,heacing.
(c) That all taxing units levying real property taxes within
the reinvestment zone received a preliminary reinvestment
zone financing plan from the City.
(d) That the City timely made formal presentations to all
counties and school districts that levy real property
3
taxes within the reinvestment zone as required by the
Act, and that each taxing unit which levies real property
taxes within the reinvestment zone was notified of each
such presentation.
(e) That creation. of the proposed reinvestment zone and
improvements made therein will significantly enhance the
value of all the taxable real property in the
reinvestment zone and will be of general benefit for the
City.
(f) That the reinvestment zone, as described in Exhibit "A" ,
hereof, meets the criteria for the creation of a
reinvestment zone as set forth in the Act, including
Section 311. 005 thereof, in that:
(1) It is a contiguous geographic area located wholly
within the corporate limits of the City; and
(2) The boundaries of the reinvestment zone contain the
same area as the area described in a petition
submitted to the City Council by the owners of
property constituting at least fifty percent (50%)
of the appraised value of the property in the area
according to the most recent certified appraisal
roll for Tarrant County, Texas.
(g) That the total appraised value of all taxable real
property in the reinvestment zone according to the most
recent appraisal roll of the City, together with the
total appraised value of taxable real property in all
other existing reinvestment zones within the City,
according to the most recent appraisal roll of the City,
4
does not exceed fifteen percent ( 15%) of the current
total appraised value of taxable real property in the
City and in the industrial districts created by the City,
if any.
(h) That the reinvestment zone does not contain more than
fifteen percent ( 15%) of the total appraised value of
real property taxable by Tarrant County or any school
district.
(i) That the development or redevelopment of the property in
the reinvestment zone will not occur solely through
private investment in the reasonably foreseeable future.
SECTION 3 : That the City hereby creates a reinvestment zone
containing the area described in the boundary description and as
depicted in the map, both of which are together attached hereto as
Exhibit "A" , and such reinvestment zone shall hereafter be
identified as Tax Increment Reinvestment Zone Number Three, it of
Fort Worth, Texas (the "Zone" or "Reinvestment Zone" )
,SECTION 4 : That there is hereby established a board of
directors for the Zone which shall consist of nine (9 ) members . The
board of directors of the Reinvestment one shall be appointed and
shall serve as follows :
(a) Each of the Fort Worth Independent School District,
Tarrant County Junior College District and Tarrant County
may appoint one member of the board, if such school
district or county has approved the payment of all or
part of the tax increment produced by the unit . The
member of the state senate in whose district the Zone is
, located (currently Mike Moncrief) is a member of the
5
V
board (the "State Senate Member" ) , and the member of the
sLate house of representatives in whose district the Zone
is located (currently Doyle Willis) is a member of the
board, except that either may designate another
individual to serve in the member's place at the pleasure
of the member. If the Zone is or all become located in
more than one senate or house district then the foregoing
shall apply only to the senator or representative in
whose district a larger portion, of the Zone is located.
The remaining members of the board shall be appointed by
the City Council. A vacancy on the board shall be
filled as set forth in the Act. If a taxing unit waives
its right to appoint a member of the board, the City may
then appoint such board member. The initial board of
directors shall be appointed by resolution of the
governing ,bodies of the City and the taxing units as
provided herein within sixty (6 0 ) days of the passage of
this ordinance or within a reasonable time thereafter.
All members appointed to the board shall meet eligibility
requirements as set forth in the Act.
(b) The board members shall serve two year terms ; provided,
however, such terms shall be staggered as provided
herein. The initial directors appointed by the City 'and
the State Senate Member or the designee thereof shall
serve initial terms commencing on the to of appointment
and expiring on December 31, 1997 , and all other
directors shall serve initial terms commencing on the
date of appointment and expiring on December 31 , 1996 .
6
.............. .... .........
Each year on or before December 31 the City Council shall
designate a member of the board to serve as chairman of
the board of directors for the next succeeding calendar
year, and the board shall elect from its members a vice
chairman and other officers as it deems appropriate. The
term of the chairman shall begin on January I of the year
immediately following the year the City Council so
designates the Chairman .
(c) The board of directors all make recommendations to the
it Council concerning the administration of the Zone.
It shall prepare and adopt a project plan and
reinvestment zone financing plan for the Zone and must
submit such plans to the City Council for its approval.
The board of directors shall possess all powers necessary
to prepare, implement and monitor such 'pro ject plan for
the Zone as the City Council considers advisable. The
board of directors shall prepare an annual report on the
status of the Zone and shall submit such report to the
City as required in the Act.
(d) The board of directors shall adopt goals for the
participation of disadvantaged business enterprises with
respect to the purchase of supplies, materials , services
and equipment in accordance with and subject to the
provisions of the Act.
aECTTON 5 : That the Zone shall take effect on January, 1,
1996 , and that the ter-mination of the Zone shall occur on December
31, 2025, or at an earlier time designated by subsequent ordinance
of the City Council in the event the City determines that the Zone
7
should be terminated due to insufficient private investment,
accelerated private investment or other good cause, or at such time
as all project costs and tax increment obligations, if any, and the
interest thereon, have been paid in full.
SECTION 6 : That the Tax Increment Base for the Zone, which is
the total appraised value of all taxable real property located in
the Zone, is to be determined as of January 1, 1995, the year i'n
which the Zone was designated a reinvestment zone.
SECTION 7 : That there is hereby created and established a Tax
Increment Fund fort a one which may be divided into such accounts
and subaccounts as may be authorized by subsequent resolution or
ordinance, into which all Tax Increments, less any of the amounts
not required to be said into the Tax Increment Fund pursuant to the
Act, are to be deposited. The Tax Increment Fund and any accounts
and subaccounts are to 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. In addition, all revenues from
the sale of any obligations hereafter issued by the City secured in
whole or in part from the Tax Increments, revenues from the sale of
any property acquired as part of the tax increment financing plan,
and other revenues to be dedicated to and used in the Zone shall be
deposited into such fund, account or subaccount from which 'money
will be disbursed to pay project costs for the Zone or to satisfy
the claims of holders of such obligations issued for the Zone.
SECTION 8 : That the Zone is designated under Section
311 .005 (a) ( 5 ) of the Act.
8
SECTION 9 : That the City Manager and City Attorney are hereby
authorized to execute and deliver for and on behalf of the City tax
increment agreements with the Fort Worth Independent School
District, Tarrant County, Tarrant County Hospital District, Tarrant
County Junior College District and Tarrant County Water Control and
Improvement District Number One pursuant to the provisions of
Sections 311. 008 and 311 . 013 (g) of the Act.
SECTION 10 : That if any section, paragraph, clause or
provision of this Ordinance shall for any reason be held to be-
invalid or unenforceable, the invalidity or unenforceability of
such section, paragraph, clause or provision shall not affect any
of the remaining provisions of this Ordinance.
SECTION 11 : That this Ordinance shall take effect immediately
from and after its passage in accordance with the provisions of the
Charter of the City of Fort Worth and it is accordingly so
ordained.
Ray' G n er
Mayor
9
r °
ATTEST:
Alice Church
City Secretary
[SEAL]
APPROVED AS TO FORM LEGALITY:
By:
Wade Adkins
City Attorney/y /}
Adopted:
Effective:
10
EXHIBIT "A"
TAX INCREMENT REINVESTMENT ZONE NUMBER THREE
(DOWNTOWN TIF)
Beginning at a point of the intersection of a projection of the south ROW line of 3rd
St° and the west ROW line of Henderson St., thence
Northwesterly along the we ROW line of Henderson St. to a point where said line
intersects with the south ROW line of Weatherford St., thence
Southwesterly along the south ROW line of Weatherford St- and what would be a
projection of the said south line to a point where the projection of said line
intersects with the west ROW line of Penn St., thence
Northerly along the west ROW line of Penn St.which ft-ansitions to the south ROW
I'ne of Forest Park Blvd. (where Forest Park Blvd. curves info'Weatherford St. and
Belknap St.), thence
Following the same Forest Park Blvd. ROW line as it curves to westerly, then to
southwesterly to a point where said line intersects with the no ROW line of 5th
St., thence
Due west along a due west projection of the north ROW line of 5th St. to a point
where this due west line intersects with the centerline of the Clear Fork of the
Trinity River, thence
Following the centerline of the Clear Fork of the Trinity River northeasterly to a
point of intersection. with the centerline of the West Fork of the Trinity River,
thence
Southeasterly, then easterly, and then northeasterly along the centerline of the West
or of the Trinity River to a point of intersection with the projection of the north
ROW line of Cummings St. (Cummings St. turns westward as depicted on the
TAD tax maps), thence
Easterly along the said projection and no ROW line of Curnraings to to a point
where said line turns southeasterly along the cast ROW line of Cumm, ings St.,
thence
Southeasterly along the east ROW line of Cummings St. to a point where said line
intersects with what would bete protection of the no ROW line of Peach St.,
thence
Northeasterly along the north ROW line of Peach St. to a point where said line
intersects with the east ROW line of the Santa Fe Railroad, thence
South-southeasterly along the east ROW line of the to Fe Railroad to a point of
intersection with what would be a straight projection of the south ROW line of 6th
St., thence
All
Beginning at a point of the intersection of a projection of the south ROW'line of 3rd
St. and the west ROW line of Henderson St.,thence
Northwesterly along the west ROW line of Henderson St- to a point where said line
intersects with the south ROW line of Weatherford St., thence -
Southwesterly along the south ROW line of Weatherford St. and what would be a
projection of the said south line to a point where the projection. of said line
intersects with the west ROW line of Penn SL, thence
Northerly along the west ROW line of Penn SL which transitions to the south ROW
line of Forest Park Blvd. (where Forest Park Blvd. curves info Weatherford St. and
Belknap SQ,thence
Following the same Forest Park Blvd. ROW line as it curves to westerly, then to
southwesterly to a point where said line intersects with the north ROW line of 5th
St.,then
ce
Due west along a due west projection of the north ROW line of 5th St to a point
where this due west line intersects with the centerline of the Clear Fork of the
Trinity River,thence
Following the centerline of the Clear Fork of the Trinity River northeasterly to a
poirit of intersection. with the centerline of the West Fork of the Trinity River,
thence
Southeasterly, then easterly, and then northeasterly along the centerline of the West
For of the Trinity River to a point of intersection with the projection. of the north
ROW line of Cummings St. (Cummings St. turns westward as depicted on the
TAD tax maps), thence
Easterly along the said projection and north ROW line of Cummings SL to a point
where said line turns southeasterly along the east ROW line of Cummings St.,
thence
Southeasterly along the east ROW line of Curmnings St. to a point where said line
intersects with what would be the projection of the no ROW line of Peach St,
thence
Northeasterly along the no ROW line of Peach St. to a point where said line
intersects with the east ROW line of the to Fe Railroad, thence
South-southeasterly along the east ROW line of the Santa Fe Railroad to a point of
intersection with what would be a straight projection of the south ROW line of 6th
St, thence
....................
Southwesterly along the south ROW line of 6th St. to a point where said line
intersects with the west ROW line of Commerce St., thence
Northwesterly along the west ROW line of Commerce St. to a point where said line
intersects with the south ROW line of 5th St., thence
Southwesterly along the south ROW line of 5th St. to a point where said line
intersects with the east ROW line of Main St., thence
Southeasterly along the east ROW line of Main St. to a point where said line
intersects with the south ROW line of 6th St,thence
Southwesterly along the south ROW line of 6th St. to a point where,said line
intersects with what would be a straight projection of the east ROW line of Burnett
St., thence
Northwesterly along at would be a straight projection of the east ROW line of
Burnett St. (west line of Block 1 ) to a point where said line intersects with the
south ROW line of 5th St., thence
Southwesterly along the south ROW' line of 5th St. to a point where said line
intersects with what would be a straight projection of the west ROW' line of Burnett
St., thence
Northwesterly along the west ROW line of Burnett St® to a point where said line
intersects with the south ROW line of 3rd St., thence
Southwesterly along the south ROW line of 3rd St. to a point where said line
intersects with the west ROW line of Henderson St., which is the point of
beginning.
Save and except that the following blocks within said perimeter boundary are
omitted and excluded from the Reinvestment Zone-'- Blocks 45R, Courthouse A,
Block 27, Block 24, Block 58, Block 57, Block 8R, Block 64, Block 86, Block 87
(Lots 1, 2A, and 2B), in the Fort Worth Original To Addition, and
Save and ex Lept that following area is omitted and excluded from the Reinvestment
Zone: Beginning at a point where the no ROW line of Belknap St. intersects the
east ROW' line of Henderson St., thence northwesterly along the east ROW line of
Henderson St, to a point where said line intersects the south ROW line of Peach. St.,
thence northeasterly along said south ROW line to a point where said line intersects
the south ROW line of Franklin St., thence easterly along the south ROW line of
Franklin St. to a point where said line intersects the west ROW line of Taylor St.,
thence southeasterly along the west ROW line of Taylor Street to a point 'where said
line intersects the north ROW line of Belknap St. thence southwesterly along the
north ROW line of Belknap St. to point where said line intersects the east ROW
line of Henderson St., which is the point of beginning, and
Save and except that the following area is omitted and excluded from the
Reinvestment Zone: Beginning at a point where the north ROW line of Belknap St.
intersects the east ROW line of Taylor St., thence northwesterly along the east
ROW line of Taylor St. to a point where said line intersects the south ROW line of
Franklin St'., thence easterly along the south ROW line of Franklin St. to a point
where said line intersects the west ROW line of Houston St., thence southeasterly
along the west ROW line of Houston St. to a point where said line intersects the
north ROW line of Belknap St., thence southwesterly along the north ROW line of
Belknap St to a point where said line
.rc
t
eP
s
(D a e
Zone Boundary
Major Goyernment or Tax Exempt
Omitted From Proposed Reinyestment Zone
Exhibit " A "
The Proposed Reinvestment Zone'
TAX INCREMENT REINVESTMENT ZONE NUMBER TIRE
( DOWNTOWN TIF)
• EXHIBIT " C"
I . TAXING UNITS' TAX INCREMENT PERCENTAGES
A. Fort Worth Independent School District ( "FWISD" )
1 . Commencing for the tax year 1996 and ending on the
earlier of the tax year (a) 2003 or (b) in which
bounds or other obligations secured by the Tax
Increments are issued, FWISD will deposit into the
Tax Increment Fund an amount equal to 1000 of its
Tax Increment .
2 . For the remaining term of this Agreement FWISD will
deposit into the Tax Increment Fund an amount equal
to 1000 of the product of (x) the Captured
Appraised Value within FWISD times (y) the lower of
the tax rate per $100 valuation levied for the then
current tax year by either the City of Fort Worth ,
or FWISD (the "Alternate Rate" . )
B. Citr of Fort Worth, Tarrant County, Tarrant y
Hospital District, Tarrant County Junior Co ege District
and Tarrant County Water Control and Improvement District
Number One (collectively, the "Other Taxing Units" . )
1 . For each year during the term of this Agreement,,
the Other Training Units will deposio the tax
Increment Fund an amount equal to 00 % of their
respective Tax Increments as defined in Section I .
II. LIMITATIONS ON TAX INCREMENT DEPOSITS
A. Deposit Limitation. The total amount of Tax Increments
deposited annually into the Tax Increment Fund by all TIF
Taxing Units shall not exceed $5, 000, 000 (the "Deposit '
Ceiling" ) , and the amount of each TIF Taxing Unit' s Tax
Increment deposit shall not exceed its pro rata share of
the Deposit Ceiling . Each TIF Taxing Unit' s pro rata
share is the product of $5, 000, 000 times a fraction, the
numerator of which is each TIF Taxing Unit' s tax rate and
the denominator of which is the sum of the tax rates of i
all TIF Taxing Units ; provided, however, FWISD' s tax rate
for purposes of its numerator and for purposes of the
denominator shall be the Alternate Rate if such rate is
then in effect . By way of illustration, set forth on
Schedule 1 hereto are examples of each TIF Taxing unit' s
pro rata share of the Tax Increment deposits which will
be required in the event the Deposit Ceiling is reached.
In accordance with Section 311 . 013 of the Act, the TIF
Taxing Units shall not be required to pay tax increment
into the tax increment fund of the Reinvestment Zone
after three (3 ) years from the date the Reinvestment Zone
has been created unless :
1
1 . bonds have been issued for the Reinvestment Zone
under Section 311 . 015 of the Act to finance trhe
Project .
2 . the City has acquired property in the Reinvestment
Zone pursuant to the project plan, or
3 . construction of Phase I of the Project pursuant to
the project plan has begun in the Reinvestment
Zone .
B . Project Cost Limitation. The maximum amount of "project
costs" (as defined in Section 311 . 002 of the Act) that
may be paid through Tax Increment deposits directly
and/or financed through the issuance of bonds or other
obl4�1 i�- O the City secured by Tax Increment deposits
is 0
C. Use of Funds
1 . All amounts paid into the tax increment fund shall
be used to pay direct project costs and/or - the
principal of and interest on bonds or other
obligations , secured in whole or in part by tax
increment deposits, issued to finance said project
costs under the Act, and to pay direct costs
properly chargeable under. generally accepted
accounting principles to the administration of the
TIF District; however, in no event shall any of the
amounts paid into the tax increment fund be used to
pay any overhead or administrative costs.of City of
other agency employees or officials for time spent
or services rendered on behalf of the TIF District
or with respect to the Project .
2 . No funds will be expended or no bonds or other
obligations, secured in whole or in part by tax
increment deposits, of the TIF District will be
issued to finance project costs of the Project
until a final project plan and financing plan has
been prepared and adopted by the Board of .Directors
of the TIF District and approved by the City
Council of the City and (b) the City has been
furnished documentation and evidence satisfactory
to the Board of Directors of the TIF District and
the City to the effect that all final agreements
and arrangements for the financing and construction
of the Project have been completed and executed .
2
0'
STATE OF TEXAS
COUNTY OF TAR RANT
CITY OF FORT WORTH AND TAR RANT COUNTY HOSPITAL DISTRICT
AGREEMENT TO PARTICIPATE IN THE TAX INCREMENT
REINVESTMENT ZONE NUMBER THREE,
CITY OF FORT WORTH, TEXAS
THIS AGREEMENT is made and entered into by and between the
City of Fort Wort ( "City" ) , a Texas home-rule munici pality,
and the Tarrant Coun:�Y_�ospital Dl� r-71-M
' '. I': I�i , : k 'Taxing Gina E71 )�, of
Tarrant CoiiiHy, Texas .
WITNES 'SETH:
WHEREAS, on December 19, 1995, the Fort Worth City Council
approved Ordinance No. 12324 , establishing Tax Increment
Reinvestment Zone Number Three, City of Fort 'Worth, Texas ( "TIF
District" ) , in accordance with the Tax Increment Financing Act, as
amended (V.T.C.A. , Tax Code, Chapter 311 ) (the "Act" ) , to promote
development and redevelopment in the downtown area of the City of
Fort Worth through the use of tax increment financing; and
WHEREAS, City and Taxing Unit wish to enter into an agreement
defining the terms and conditions under which Taxing Unit will
contribute a portion of its tax increment to the TIF District Tax
Increment Fund;
NOW THEREFORE, City and Taxing Unit, in consideration of the
terms, conditions and covenants contained herein, hereby, agree as
follows:
I . DEFINITIONS
Terms not defined herein shall be construed as defined in the
Act (hereinafter defined) , or through normal. usage if not defined
in the Act. The following terms shall have the following meanings
when used in this Agreement:
"Act" shall can V.T.C.A. , Tax Code, Chapter 311 , the Tax Increment
Financing Act, as amended.
'Captured Appraised value" shall can the total appraised value of
the property located within the TIF District for the year less the
Tax Increment Base 'of the TIF Taxing Units .
"Project Plan and Reinvestment Zone Financing Plan" shall mean the
project and financing plan for the development or redevelopment of
the TIF District .
"TIF District" shall can Tax Increment R y.g.q
ed-rL er,
Three City of Fort Worth, Texas , established by the Fort Worth
61_y��Council Ordinance No. 12324 , on December 1 9 , 1995 , a copy Of
which ordinance is attached hereto and marked Exhibit "A" .
"TIF Taxing Units" shall mean those political subdivisions of the
State of Texas authorized to impose ad valorem taxes on property
located within the TIF District .
"Tax Increment" shall mean the amount of property taxes levied and
collected by a TIF Taxing Unit for the year on the Captured
Appraised Value of taxable property located in the TIF District.
"Tax Increment Base" shall mean the total appraised value of all
property taxable by the TIF Taxing Units and located in the TIF
District on January 1, 1995 .
"Tax Increment Fund" shall mean a fund consisting of all the Tax
Increment deposits, all revenues from the sale of tax increment
bonds or notes, revenues from the sale of any property acquired as
part of the Project Plan and Reinvestment Zone Financing Plan, and
other revenues to be used in the development or redevelopment of
the TIF District.
II . AGREEMENT TO DEPOSIT TAX INCREMENT
Pursuant to a Resolution, duly adopted by it governing body,
a copy of which is attached hereto as Exhibit "B" , the Taxing Unit
annually shall deposit into the Tax Investment Fund the amount as
calculated by the method set forth in Exhibit "C" , hereto.
III . RESPONSIBILITY FOR ACTS-
City and Taxing Unit shall each be responsible for the sole
negligent acts of their officers , agents, employees or separate
contractors . In the event of joint and concurrent negligence of
both City and Taxing Unit, responsibility, if any, shall be
apportioned comparatively in accordance with the laws of the State
of Texas, without however, waiving any governmental immunity
available to City and Taxing Unit, under Texas law and without
waiving any defenses of the parties under Texas law.
IV. ADMINISTRATION OF AGREEMENT
This Agreement shall be administered on behalf of the City by
the City Manager 's Office of the City, or the designee thereof.
V. DELIVERY ADDRESS
Whenever this Agreement requires or permits any consent,
approval , notice, request, proposal, or demand from one party to
the other, the consent, approval , notice, request, proposal , or
demand must be in writing to be effective and shall be delivered to
2
the party intended to receive it at that party 's address shown
below:
If intended for City, to: Economic Development Director
City of Fort Worth
1000 Throckmorton Street
Fort Worth, Texas 76102
If intended for Taxing Unit, to:
Board of Managers
Tarrant County Hospital District
1500 Main Street
Fort Worth, Texas 76104
or to such other address as either party may request, in writing,
from time to time.
VI . GOVERNING LAW AND VENUE
This Agreement is made subject to the provisions of the
Charter and ordinances of City, as amended; the Texas Constitution,
codes, and statutes; and all other applicable state and federal
laws, regulations and requirements, as amended. Venue for any cause
of action arising hereunder shall lie exclusively in Tarrant
County, Texas .
VII . TERM
This agreement is effective from January 1 , 1996 ,, through
December 31 , 2025 .
VIII . ENTIRE AGREEMENT/AMENDMENTS
This Agreement embodies the complete understanding of City and
Taxing Unit, and shall supersede all oral or written previous and
contemporary agreements between the parties relating to matters
herein. This Agreement may be amended, modified, or supplemented
only by an instrument in writing executed by City and Taxing Unit,
a copy of which will be provided to all TIF Taxing Units . Any
amendment, modification or supplement which adversely affects any
other TIF Taxing Unit must be consented to in writing by such TIF
Taxing Unit . Any alterations, additions or deletions to the terms
of this Agreement required by changes in federal , state or local
law or regulations will be automatically incorporated into this
Agreement without written amendment, and shall become effective on
the date designated by such law or regulation .
EXECUTED this the day of , 1996, by City, signing
by and through its City Manager, and by Taxing Unit, signing by and
through its duly authorized officials .
3
APPROVED AS TO FORM AND LEGALITY; CITY OF FORT WORTH, TZXAS
By; By.*
Wil a.am w. wood Bob Texr 11
Deputy City Attorney City Manager �I
ATTEST:
By' 4�42�
Al c® Cha�rch
City Secretary
TAR RANT 0 TY HOS tTAL,
DIST C
y Mypy urp
Chairman
Board of anage-r
TAR T OUNTY, TEXAS
By
Tom Vandergri
County judge
r
EXHIBIT "C"
ORDINANCE NO. r
AN ORDINANCE REDUCING THE BOUNDARIES OF TAX
INCREMENT REINVESTMENT ZONE NUMBER THREE, CITY
OF FORT WORTH, TEXAS; AND CONTAINING OTHER
MATTERS RELATED TO THE ZONE.
WHEREAS, pursuant to Ordinance No. 12324, adopted by the City Council of
the City of Fort Worth, Texas (the "City') on December 19, 1995, the City created Tax
Increment Reinvestment Zone Number Three, City of Fort Worth, Texas, as previously
enlarged by Ordinance No. 14795, adopted on October 2, 2001, and Ordinance No,
14839, adopted on October 30, 2001, and as previously reduced by Ordinance No. 15317,
adopted on November 5, 2002 (the"Zone"); and
WHEREAS, Section 311.007 of the Texas Tax Code (the "Code") allows the
City Council to reduce or enlarge the boundaries of an existing reinvestment zone by
ordinance or resolution, subject to the limitations provided by Section 311.006 of the
Code; and
WHEREAS, the City wishes to reduce the Zone by removing all property in the
Zone that is located within the property boundaries set forth in Exhibit "A" of this
Ordinance (the "property"), which is attached hereto and hereby made a part of this
Ordinance for all purposes; and
WHEREAS, by operation of Sections 311.006 and 311.007 of the Code, a
municipality may change the boundaries of an existing reinvestment zone so long as (i)
less than ten percent (10%) of the property within the amended boundaries of the
reinvestment zone, excluding any property dedicated to public use, is used for residential
purposes. as.defined in Section 311.006(d) of the Code; (ii) the amended bowida.ries of
Page I
Ordinance Reducing Tax Tncremenr Reinvestment Zonc Number Three,
City of Forr Worth,Texas
1
the reinvestment zone will not contain more than fifteen percent (15%) of the total
appraised value of taxable real property in the municipality and in the industrial districts
created by the municipality; and (iii) the amended boundaries of the reinvestment zone
will not contain more than fifteen percent (15%) of the total appraised value of the real
property taxable by a county or school district; and
WHEREAS, on February 18, 2003 the City Council held a public hearing
regarding the reduction of the Zone and its benefits io the City and to property in the
Zone and afforded a reasonable opportunity for all interested persons to speak for or
against the removal of the Property from the Zone; and
WHEREAS, notice of the public hearing was published in a newspaper of
general circulation in the City on February 10, 2003, which date was not later than seven
(7) days prior to the date of the hearing; and
WHEREAS, prior to the public hearing the City provided written notice to all
taxing units levying real property taxes within the Zone of the City's intention to remove
the Property from the Zone and of the public hearing.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH,TEXAS:
Section I.
FINDINGS.
That after reviewing all information before it regarding the removal of the
Property from the Zone and after conducting a public hearing regarding the reduction of
the Zone and its benefits to the City and to property in the Zone and affording a
Page 2
Ordinance Reducing Tar Increment Reinvcstment zone Number Three,
City of Fort Worth,Texas
. t
reasonable opportunity for all interested persons to speak for or against the removal of the
Property from the Zone, the City Council hereby makes the following findings of fact:
1.1. The statements, facts, terms and conditions set forth in the recitals of this
Ordinance are true and correct.
1.2. Removal of the Property from the Zone will benefit the City by allowing the City
to foster development initiatives on and in the vicinity of the Property,as outlined
in the public Pre-Council meeting on February 4, 2003 and the City Council
meeting of February 18, 2003, by means that would not be available if the
Property remained in the Zone("Other Economic Development Initiatives').
1.3. Beneficial development of the Property is likely to occur more quickly by means
of Other Economic Development Initiatives.
1.4. Once the Property is removed from the Zone and developed by means of Other
Economic Development Initiatives, the value of property remaining in the Zone is
likely to increase, which will benefit both the Zone and the City in general.
1.5. The Property is subject to removal from the Zone pursuant to Section 311.007(a)
of the Code.
1.6. With the removal of the Property, less than ten percent (10%) of the property
within the Zone, excluding any property dedicated to public use, will be used for
residential purposes, as defined in Section 311.006(d) of the Code.
1.7. With the removal of the Property, the Zone will not contain more than fifteen
percent (15%) of the total appraised value of taxable real property in the
municipality and in the industrial districts created by the municipality.
Page 3
Ordinance Reducing Tax increment Reinvcstment Zone Number Three,
City of Fort Worth,Texas
I.S. With the removal of the Property, the Zone will not contain more than fifteen
percent (15%) of the total appraised value of real property taxable by any county
or school district.
Section 2.
REMOVAL OF PROPERTY FROM ZONE.
That the City Council hereby reduces the boundaries of the Zone by removing the
Property from the Zone, The Zone, as reduced, has been designated under Section
311.005(a)(5) of the Code and shall continue to be known as "Tax Increment
Reinvestment Zone Number Three, City of Fort Worth, Texas." With removal of the
Property from the Zone, the Zone shall comprise the property depicted and described in
Exhibit "B", which is attached hereto and hereby made a part of this Ordinance for all
purposes_
Section 3.
ZONE BOARD OF DIRECTORS.
That the board of directors for the Zone shall remain unchanged and shall
continue to conform to the requirements of Section 311.009 of the Code.
Page 4
Ordinance Reducing Tax Increment Reinvestment Zone Number Three,
City of Fort Worth,Texas
Section 4.
TERM OF ZONE.
That the removal of the Property from the Zone shall take effect upon the
adoption of this Ordinance. The Zone, as reduced, shall terminate in accordance with
Section 5 of Ordinance No. 12324.
Section 5.
DETERMINATION OF TAX INCREMENT BASE.
That the tax increment base of the Zone, as defined by Section 311,012(c) of the
Code, shall be reduced by the taxable appraised value of the Property for the year 1995,
Much is the year in which the Property was designated as part of the Zone pursuant to
Ordinance No. 12324. The tax increment base for property remaining in the Zone shall
remain unchanged.
Section 6.
TAX INCREMENT FUND.
That beginning with the 2003 tax year, each taxing unit which levies real property
taxes on the Property shall be relieved of any obligation to deposit the percentage of any
tax increment (as defined by Section 311.012(a) of the Code) produced by the .Property
that the taxing entity elected to dedicate to the Tax Increment Fund (created and
established for the Zone pursuant to Section 7 of Ordinance No. 12324) under a
participation agreement with the City, as authorized by Section 311.013(f) of the Code.
Page 5
Ordinance Reducing Tax Increment Reinvestment Zone Number Thrcc,
City of Fort Worth,Texas
Section 7.
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.
Section 8.
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:
Fay:
Peter Vaky
Assistant City Attorney
Date: 1-2/0 - 03
M&C: e-/3S87
Page 6
Ordinance Reducing Tar,Increment Reinvestment Zone Number Thrce,
City of Fort Worth,Texas
,Q A,
EXHIBIT "A"
LEGAL DESCRIPTION AND MAP
OF THE PROPERTY BEING REMOVED
Beginning at a point of the intersection of the south ROW line of Belknap St. and the east
ROW'line of Taylor SL, thence
Northeasterly along the south ROW line of Belknap St. to a point where said line
intersects with the westROW line of Throckmorton St., thence
Southeasterly along the west ROW line of Throckmorton St4 to a point where said line
intersects with the north ROW line of 3rd St., thence
Southwesterly along the north ROW line of 3rd St. to a point where said line intersects
with the east ROW line of Taylor St., thence
Northwesterly along the cast ROW line of Taylor St. to a point where said line intersects
with the south ROW line of Belknap St., which is the point of begirunng.
ROW 11AW11:11:
of bolknap St.
West Row Of
Thrackmorton
SAO
O. East ROW of
TaVW St <
Nag"ROW of
3rd sit <1
el
o L
r..........
176,983 sf or 4.06 acres
EXHIBIT "B"
LEGAL DESCRIPTION AND MAP
OF THE ZONE FOLLOWING REMOVAL OF THE PROPERTY
Beginning at a point of the intersection of a projection of the south ROW line of 3rd St.
and the west ROW line of Henderson St.,thence
Northwesterly along the west ROW line of Henderson St. to a point where said line
intersects with the south ROW line of Weatherford St., thence
Southwesterly along the south ROW line of Weatherford St. and what would be a
projection of the said south line to a point where the projection of said line intersects with
the west ROW line of Penn St., thence
Northwesterly along the west ROW line of Penn St. which transitions to the south ROW
line of Forest Park Blvd. (where Forest Park Blvd. curves into Weatherford St. and
Belknap St.),thence
Following the same Forest Park Blvd. ROW line as it curves to westerly,'then to
southwesterly to a point where said line intersects with the north ROW line of 5th St.,
thence
Due west along a due west projection of the north ROW line of 5th St. to a point where
this due west Iine intersects with the centerline of the Clear Fork of the Trinity River,
thence
Following the centerline of the Clear Fork of the Trinity River northeasterly to a point of
intersection with centerline of the west ROW line of Henderson St.,thence
Southeasterly along the west ROW line of Henderson St. to a point where said line
intersects with the south ROW line of Belknap Street, thence
Northeasterly along the south ROW line of Belknap Street to a point where said line
intersects with the east ROW line of Cherry St., thence
Southeasterly along the east ROW line of Cherry St. to a point where said line intersects
with the south ROW line of Weatherford St., thence
Northeasterly along the south ROW line of Weatherford St. to a point where said line
intersects with the east ROW line of Taylor St., thence
Southeasterly along the east ROW of Taylor St. to a point where said. line intersections
with the north ROW line of 3`d St.. thence
Northeasterly along the north ROW line of 3rd St. to a point where said line intersects
with the west ROW line of Throckmorton St.,thence
Northwesterly along the west ROW line of Throckmorton St. to a point where said line
intersects with the south ROW line of Belknap St., thence
Northeasterly along the south ROW line of Belknap St. to a point where said line
intersects with the west ROW line of Houston Street, thence
Southeasterly along the west ROW line of Houston St. to a point where said line
intersects with the south ROW line of Weatherford St., thence
Northeasterly along the south ROW line of Weatherford St. to a point where said line
intersects with the west ROW line of Commerce St., thence
Northwesterly along the west ROW line of Commerce Street to a point where said line
intersects with the north ROW line of Belknap St., thence
Southwesterly along the north ROW line of Belknap St. to a point where said line
intersects with the west ROW line of Houston St., thence
Northwesterly along the west ROW line of Houston St.to a point where said line
intersects with the south ROW line of Franklin St., thence
Westerly along the south ROW line of Franklin St. to a point where said line intersects
with the east ROW line of Taylor St., thence
Northwesterly along the east ROW line of Taylor St. to a point where said line intersects
with the centerline of the West Fork of the Trinity River at the.projection of the east
ROW line of Taylor St., thence
Southeasterly, then easterly, and then northeasterly along the centerline of the West Fork
of the Trinity River to a point of intersection with the projection of the north ROW line of
Cummings St. (Cummings St. turns westward as depicted on the TAD tax maps), thence
Easterly along the said projection and north ROW line of Cummings St. to a point where
said line turns southeasterly along the east ROW line of Cummings St.,thence
Southeasterly along the east ROW line of Cummings St. to a point where said line
intersects with what would be the projection of the north ROW line of Peach St., thence
Northeasterly along the north ROW line of Peach St. to a point where said line intersects
with the east ROW line of the Santa Fe Railroad, thence
South-southeasterly along the east:ROW line of the Santa Fe Railroad to a point of
intersects with a north ROW lime of Lancaster Avenue, thence
West along the north ROW line of c ter Avenue to a point where said line intersects
with e east ROW line of Calhoun t., thence
Northwesterly along the east ROW line of Calhoun St. to a point where said line
intersects with the o ROW line of 7th St., thence
Southwesterly along the north ROW line of t. to a,point where said tine intersects
with the west ROW line of Burnett St., thence
'Northwesterly along the west ROW line ofBurnett St. to a point where said Iine
intersects with the south ROW line of 3rd St.,thence
Southwesterly along the south ROW line of 3rd St. to a point where said line intersects
with the west ROW line of Henderson St.,which is the point ofbeginning.
watt ROW r S
of Kendaftm EE dSe
MEEsom FFOOW 6W
MEE
Esm ROW Ino of
EMI ROW W.
dW �
mom ROW ROW ..,
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f WaA ® p
(I ! a w.se NwVt ROW
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Y SOW,Raw r." cdr. A" d Cal Sit ;3
l
of We.WItWd%k
Mom
19 El of L&V*sW Ave
,�_ Jr tiJ PivK , f.tll�isbr AY0.
City of ort Worth, Texas
�
tion
[:D:A:T: 3 REFM �CNU�C 2 �LOG�NAM �����
6 /03 9 1
of
SUBJECT
AURTHO IZE EXECUTION OF AMENDMENTS TO AGREEMENTS WITH TARRANT
COUNTY AND TARRANT COUNTY HOSPITAL DISTRICT FOR PARTICIPATION IN
TAX INCREMENT REINVESTMENT ZONE NUMBER THREE, CITY OF FORT
WORTH, TEXAS DOWNT OWN TIF
RECOMMENDATION
It is recommended that the City Council authorize the City Manager to execute amendments to the
` agreements with Tarrant County (County) and Tarrant County Hospital District (Hospital District)
increasing the level at which the County and the Hospital District will contribute tax increment to the
Downtown TIF.
DISCUSSION:
'Pursuant to the Downtown TIF's original Project and, Financing Plan, all taxing units that have been
contributing tax increment revenue to the Downtown TIF limited their participation to a maximum 50
million in committed project costs by the Downtown TIF. Therefore, once the Downtown TIF had
committed to or otherwise pledged $50 million toward allowable project costs, the taxing units would
cease their contributions to the Downtown TIF and the Downtown TIF would not financially be able to
undertake any additional projects.
On February 4, 2003, City staff presented the City Council with a proposal for the redevelopment of the
former Rank One Tower, which was severely damaged in the tornado of March 2 , 2000, and is
currently vacant. They also approved the redevelopment of the Tandy Center, which is scheduled to be
vacated in 2005 when RadioShack Corporation moves into its new corporate campus on the site of the
former Ripley Arnold Apartments. In accordance with that proposal, the Downtown TIF's board of
directors has entered into leases for public parking spaces in the parking garages of both buildings and
into a development agreement for the abatement of asbestos in the former Bank One Tower. All three
of these agreements are critical in order for the redevelopment projects to be financially viable.
In order for the Downtown TIF to fund these transactions, the 50 million project cost cap must be
increased. On February 1 , 2003, the City Council adopted Resolution No. 2922 increasing the cap
applicable to the City to $ 2,million, with the understanding that any tax increment contributed by the
City to the Downtown TIF once it had committed 50 million toward various projects would be reserved
for projects undertaken on or after February 17, 2003. The County and the Hospital District have also
agreed to increase their contributions in the same manner, reserving the additional funding for projects
related to the redevelopment of the former Bank One Tower and the Tandy Center, and have
accordingly executed amendments to City Secretary Contract Nos. 21825 and 21823, respectively,
which are the agreements with the City pursuant to which the County and the Hospital District
contribute tax increment revenue to the Downtown TIF. In order for the amendments to be effective,
state law requires that the City Council authorize execution of these amendments.
City of ort Worth, Texas
"Agar and cou"Cit Cot I U ication
FDATE REFERENCE NUMBER LOG NAME PAGE
6/3/03 C-19612 12COUJ 2 of
JECT AU.lRTHORIZE EXECUTION AMENDMENTS TO AGREEMENTS WITH TARRANT
COUNTY AND TARRANT COUNTY HOSPITAL DISTRICT FOR PARTICIPATION IN
TAX INCREMENT REINVESTMENT ZONE NUMBER THREE, CITY OF FORT
WORTH, TEXAS DOWNTOWN TIF
FISCAL INFORMATION/CERTIFICATION-
The INFORMATION/CERTIFICATION-
The Finance Director certifies that these transactions will have no material effect on City funds.
:r
Submitted for City Manager's FUN ACCOUNT C NTFR ANMOUNT CITY SECRETARY
Office : (to)
Reid Rector 6140
Originating Department Head:
David Yett 7623 (from) APPROWD 06/03/03
Additional Information Contact:
Peter Yaky 7601