HomeMy WebLinkAboutOrdinance 21550-12-2014 ORDINANCE NO. 21550-12-2014
AN ORDINANCE DESIGNATING A CERTAIN CONTIGUOUS
GEOGRAPHIC AREA IN THE CITY OF FORT WORTH AS "TAX
INCREMENT REINVESTMENT ZONE NUMBER FIFTEEN, CITY
OF FORT WORTH, TEXAS"; CREATING A BOARD OF
DIRECTORS FOR THE ZONE; PROVIDING THE EFFECTIVE
AND TERMINATION DATES FOR THE ZONE; ESTABLISHING
A TAX INCREMENT FUND FOR THE ZONE; AND
CONTAINING OTHER MATTERS RELATED TO THE ZONE.
WHEREAS, the City Council desires to promote the development of land in that
certain contiguous geographic area in the City which is more specifically described in
Exhibit "A" of this Ordinance (the "Zone") through the creation of a new reinvestment
zone as authorized by and in accordance with the Tax Increment Financing Act, codified
at Chapter 311 of the Texas Tax Code (the "Code"); and
WHEREAS, the City has prepared preliminary project and financing plans for
the proposed Zone and provided a copy of those plans to the governing body of each
taxing unit that levies taxes on real property in the Zone, as required by Section
311.003(b) of the Code (the "Preliminary Plans"); and
WHEREAS, on December 2, 2014 the City Council held a public hearing
regarding the creation of the Zone and its benefits to the City and to property in the Zone
and afforded a reasonable opportunity for (i) all interested persons to speak for or against
the creation of the Zone, its boundaries or the concept of tax increment financing and (ii)
owners of real property in the proposed Zone to protest inclusion of their property in the
Zone, as required by Sections 311.003(c) and (d) of the Code; and
WHEREAS, notice of the public hearing was published in a newspaper of
general circulation in the City on December 2, 2014, which satisfies the requirement of
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No.21550-12-2014
City of Fort Worth,Texas Page 1 of 7
Section 311.003(c) of the Code that publication of the notice occur not later than the
seventh day before the date of the public hearing;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS:
Section 1.
FINDINGS.
That after reviewing all information before it regarding the establishment of the
Zone and after conducting a public hearing regarding the creation of the Zone and its
benefits to the City and to property in the Zone and affording a reasonable opportunity
for (i) all interested persons to speak for or against the creation of the Zone, its
boundaries or the concept of tax increment financing and (ii) owners of real property in
the proposed Zone to protest inclusion of their property in the Zone, the City Council
hereby makes the following findings of fact:
1.1. The statements and facts set forth in the recitals of this Ordinance are true and
correct. Therefore, the City has met the notice and procedural requirements
established by the Code for creation of a reinvestment zone under the Code.
1.2. The Zone consists of approximately 925 acres of land and the area within the
Zone is contiguous.
1.3. The Zone lacks adequate infrastructure to sustain viable development, including
but not limited to, water, sewer, drainage, roads and sidewalks. Much of the
infrastructure and site improvements located within the Zone are in a state of
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No.21550-12-2014
City of Fort Worth,Texas Page 2 of 7
severe deterioration, impeding development that might otherwise occur in the
Zone.
1.4. Vehicular and pedestrian access to and within the Zone is constrained by factors
that include but are not limited to the presence of several railroads bisecting the
Zone and a lack of above-grade or below-grade railroad crossings capable of
supporting future growth in the Zone.
1.5. Based on the facts set forth in Sections 1.3 and 1.4 hereof, as well as on all other
information provided to and/or known by the City Council with respect to the area
within the Zone and the area in the vicinity of the Zone, the City Council hereby
finds that development of the Zone will not occur solely through private
investment in the foreseeable future.
1.6. Taking all facts into consideration, the area within the Zone substantially impairs
and arrests the sound growth of the City and constitutes an economic liability and
a menace to the public health and safety because of (i) a substantial number of
substandard, deteriorated and deteriorating structures; (ii) the predominance of
inadequate sidewalk and street layouts; (iii) faulty lot layout in relation to size,
adequacy, accessibility and usefulness; (iv) unsanitary and unsafe conditions; (v)
the deterioration of site and other improvements; and (vi) conditions that
endanger life and property by fire or other cause. Therefore, the area within the
Zone meets the criteria for designation of a reinvestment zone and satisfies the
requirements of Section 311.005(a)(1) of the Code.
1.7. No more than thirty percent (30%) or less of the property in the Zone is used
currently for residential purposes, as specified by Section 311.006 of the Code.
Ordinance Designating Tax Increment Reinvestment zone Number Fifteen, Ordinance No.21550-12-2014
City of Fort Worth,Texas Page 3 of 7
1.8. According to the most recent appraisal roll of the City, the total appraised value of
all taxable real property in the Zone and in existing reinvestment zones in the City
does not exceed twenty-five percent (25%) of the total appraised value of taxable
real property in the City and in industrial districts created by the City, if any.
Section 2.
DESIGNATION OF NEW ZONE.
That the City Council hereby designates the Zone described in the boundary
description and depicted in the map, both attached hereto as Exhibit "A" and made a
part of this Ordinance for all purposes, as a reinvestment zone pursuant to and in
accordance with the Code. This reinvestment zone shall be known as "Tax Increment
Reinvestment Zone Number Fifteen, City of Fort Worth, Texas."
Section 3.
ZONE BOARD OF DIRECTORS.
That a board of directors for the Zone ('Board") is hereby created. The Board
shall consist of nine (9) members who shall serve for terms of two (2) years each. Of
these nine (9) members, each taxing unit other than the City that has approved the
payment of all or part of the tax increment produced by the unit into the tax increment
fund for the Zone may, but is not required to, appoint one (1) member to the Board.
After each taxing unit other than the City designates to the City either the name of the
member that the taxing unit wishes to appoint or the fact that the taxing unit wishes to
waive its right to appoint a member, the City Council shall appoint whatever number of
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No.21550-12-2014
City of Fort Worth,Texas Page 4 of 7
members are necessary to fill the remaining positions on the Board. Such members may
be members of the City Council.
Section 4.
TERM OF ZONE.
That the Zone shall take effect immediately upon the adoption of this Ordinance
and terminate on the earlier of (i) December 31, 2034 or an earlier termination date
designated by an ordinance adopted after the effective date of this Ordinance or (ii) the
date on which all project costs, tax increment bonds and interest on those bonds have
been paid or otherwise satisfied in full.
Section 5.
DETERMINATION OF TAX INCREMENT BASE.
That the tax increment base for the Zone, as defined by Section 311.012(c) of the
Code, shall be the total appraised value of all real property in the Zone taxable by a
taxing unit as of January 1, 2014,which is the year in which the Zone was designated as a
reinvestment zone.
Section 6.
TAX INCREMENT FUND.
That a tax increment fund for the Zone (the "TIF Fund") is hereby established.
The TIF Fund may be divided into additional accounts and sub-accounts authorized by
resolution or ordinance of the City Council. The TIF Fund shall consist of (i) the
percentage of the tax increment, as defined by Section 311.012(a) of the Code, that each
Ordinance Designating Tax Increment Reinvestment zone Number Fifteen, Ordinance No.21550-12-2014
City of Fort Worth,Texas Page 5 of 7
taxing unit which levies real property taxes in the Zone, other than the City,has elected to
dedicate to the TIF Fund pursuant to an agreement with the City authorized by Section
311.013(f) of the Code, plus (ii) the City's contribution of fifty percent (50%) of the
City's tax increment, as defined by Section 31 t.012(a) of the Code, subject to any
binding agreement executed at any time by the City that pledges an amount of legally
available City funds whose calculation is based, in whole or in part, on payment to or
receipt by the City of any portion of such tax increment. The TIF Fund shall be
maintained in an account at the depository bank of the City and shall be secured in the
manner prescribed by law for Texas cities. Revenues in the TIF Fund shall be used
solely in accordance with Section 311.014 of the Code.
Section 7.
TAX INCREMENT AGREEMENTS.
That, pursuant to Sections 311.008 and 311.013 of the Code, the City Manager
and City Attorney are hereby authorized to execute and deliver, for and on behalf of the
City,tax increment agreements with taxing units that levy real property taxes in the Zone.
Section 8.
SEVERABILITY.
That if any portion, section or part of a section of this Ordinance is subsequently
declared invalid, inoperative or void for any reason by a court of competent jurisdiction,
the remaining portions, sections or parts of sections of this Ordinance shall be and remain
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No.21550-12-2014
City of Fort Worth,Texas Page 6 of 7
in full force and effect and shall not in any way be impaired or affected by such decision,
opinion or judgment.
Section 9.
IMMEDIATE EFFECT.
That this Ordinance shall take effect and be in full force and effect from and after
its adoption.
AND IT IS SO ORDAINED.
APPROVED AS TO FORM AND LEGALITY: 4yJ
Maleshia B. Farmer r, Ci ecretary
Senior Assistant City Attorney
ADOPTED AND EFFECTIVE: December 2, 2014
M&C: G-18370
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No.21550-12-2014
City of Fort Worth,Texas Page 7 of 7
EXHIBIT "A"
DESCRIPTION AND DEPICTION OF THE ZONE
The tracts to be designated as Tax Increment Reinvestment Zone Number Fourteen, City
of Fort Worth, Texas for tax increment financing purposes are depicted in the
accompanying map and are more particularly described by the following metes and
bounds:
Legal Description
A tract of land out of the J. Baugh Survey, Abstract No. 115, the J. Thomas Survey,
Abstract No. 1526, the M.E. Jobe Survey, Abstract No. 886, the W.M. Gray Survey,
Abstract No. 635, the M. Roddy Survey, Abstract No. 1370, the S. Gilmore Survey,
Abstract No. 580, the S. Gilmore Survey, Abstract No. 590, the S.K. Smith Survey,
Abstract No. 1417 and the E. Little Survey, Abstract No. 954 and being more particularly
described by metes and bounds as follows:
Beginning at the intersection of the east right-of-way line of Clinton Avenue and the
north right-of-way line of Grand Avenue, the most southerly corner of Lot 6A, Block 60,
North Fort Worth Addition according to plat recorded in Volume 388-146, Page 6, Plat
Records of Tarrant County, Texas;
Thence: bearing roughly North 40 degrees West, about 3,308.0 feet to the southerly right-
of-way line of N.W. 16Th Street;
Thence: bearing roughly North 50 degrees East with said right-of-way, about 113.0 feet
to its intersection with the south right-of-way line of 20Th Street;
Thence: with said right-of-way line, EAST about 287.0 feet to the east right-of-way line
of Houston Street;
Thence: with said right-of-way line NORTH, about 2,619.0 feet to its intersection with
the north right-of-way line of 24Th Street, the southwest corner of Lot 56, Block 19,
Exchange Subdivision of Blocks 18 & 19, M.G. Ellis Addition according to plat recorded
in Volume 204, Page 69, Plat Records of Tarrant County, Texas;
Thence: with said right-of-way line WEST, about 386.0 feet to its intersection with the
east right-of-way line of Clinton Avenue, the southwest corner of Lot 72, Block 18 of
said Subdivision;
Thence: with said right-of-way line,NORTH about 2,780.0 feet;
Thence: continuing with said right-of-way line, bearing roughly North 15 degrees West,
about 1,289.0 feet to its intersection with the south right-of-way line of 30Th Street, the
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No.21550-12-2014
City of Fort Worth,Texas
northwest corner of Lot 13, Block 69, M.G. Ellis Addition according to plat recorded in
Volume 63,Page 19, Plat Records of Tarrant County, Texas;
Thence: EAST, about 1,495.0 feet to the east right-of-way line of North Commerce
Street;
Thence: bearing roughly North 15 degrees West, about 663.0 feet to its intersection with
the south right-of-way line of 31St Street, the most westerly corner of Block 7, Fort
Worth Stockyards Company Addition, according to plat recorded in Volume 388-A,Page
111, Plat Records of Tarrant County, Texas;
Thence: EAST, about 360.0 feet to the east right-of-way line of North Calhoun Street;
Thence: with said right-of-way line, bearing roughly North 15 degrees West, about 630.0
feet to the northwest corner of said Block 7 lying on the south line of Block 82R,
Fostepco Heights according to plat recorded in Volume 388-51, Page 43, Plat Records of
Tarrant County, Texas;
Thence: EAST, about 321.0 feet to the west right-of-way line of the Burlington Northern
& Santa Fe Railroad right-of-way;
Thence: southeasterly,with said right-of-way line about 1,182.0 feet;
Thence: bearing roughly North 63 degrees East, about 289.0 feet to a point lying on the
east right-of-way line of the Union Pacific Railroad, the westerly line of Lot 8, Block
100, Fostepco Heights Addition according to plat recorded in Volume 204-A, Page 126,
Plat Records of Tarrant County, Texas;
Thence: southeasterly with said right-of-way line, about 482.0 feet to the southwest
corner of Lot 6, Block 100 of said Addition, the northwest corner of Lot 7 of said
Addition;
Thence: with the common line of said Lots roughly EAST, about 112.0 feet to the west
right-of-way line of Terry Street;
Thence: with said right-of-way line SOUTH, about 142.0 feet;
Thence: departing said right-of-way line EAST, about 1,961.0 feet to its intersection with
the east right-of-way line of Hays Street;
Thence: bearing roughly NORTH with said right-of-way line about 450.0 feet to its
intersection with the south right-of-way line of 30Th Street;
Thence: with said right-of-way line EAST, about 27.0 feet to its intersection with the
west right-of-way line of Burlington Northern& Santa Fe Railroad;
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No.21550-12-2014
City of Fort Worth,Texas
Thence: northeasterly with said right-of-way line about 1,152.0 feet;
Thence: EAST, about 210.0 feet to the east right-of-way line of said railroad;
Thence: southwesterly with said right-of-way line about 1,525.0 feet to the southwest
corner of Lot 10, Block 101 of said Fostepco Heights Addition;
Thence: departing said railroad right-of-way line bearing northeasterly about 150.0 feet to
the west right-of-way line of Decatur Avenue,the southeast corner of said Lot 10;
Thence: with said Decatur Avenue right-of-way line southeasterly about 975.0 feet;
Thence: departing said right-of-way line bearing roughly EAST, about 1,581.0 feet to the
southeast corner of Lot 14, Block 6, Moody Addition according to plat recorded in
Volume 204, Page 17,Plat Records of Tarrant County, Texas;
Thence: with the east line of Block 6 of said Addition bearing SOUTH, about 50.0 feet;
Thence: bearing roughly EAST, about 225.0 feet to the east right-of-way line of Oscar
Street,the southwest corner of Lot 15, Block 5 of said Moody Addition;
Thence: with the east right-of-way line of said Oscar Street bearing roughly NORTH,
about 306.0 feet to its intersection with the south right-of-way line of Loraine Street, the
northwest corner of Lot 10 of said Block 5;
Thence: with the south right-of-way line of Loraine Street bearing roughly EAST, about
117.0 feet to the northwest corner of said Lot 10 lying on the west line of an alley;
Thence: with the west line of said alley bearing roughly SOUTH, about 353.0 feet to the
southeast corner of Lot 16 of said Moody Addition;
Thence: bearing roughly EAST, about 1,387.0 feet to the east line of an alley in Block 1
of said Addition,the northwest corner of Lot 2;
Thence: NORTH, about 50.0 feet to the northwest corner of Lot 3 of said Moody
Addition;
Thence: bearing roughly EAST with the common line of Lot 3 and Lot 4 about 200.0 feet
to the east right-of-way line of Deen Road;
Thence: with said right-of-way line bearing roughly NORTH, about 779.0 feet;
Thence: bearing roughly North 45 degrees East, about 14.0 feet to the south right-of-way
line of Dewey Street, the northwest corner of Lot 1R1, Block 1, United Service Center
Addition according to plat recorded in Volume 388-140, Page 35, Plat Records of Tarrant
County, Texas;
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No.21550-12-2014
City of Fort Worth,Texas
Thence: bearing roughly EAST, about 1,160.0 feet to the westerly right-of-way line of
Interstate Highway No. 35 (North Freeway), the northeast corner of Block 14, Karren
Addition Third Filing according to plat recorded in Volume 388-6, Page 60, Plat Records
of Tarrant County, Texas;
Thence: southwesterly along said right-of-way line about 1,110.0 feet to the northerly
right-of-way line of 28Th Street;
Thence: SOUTH, about 115.0 feet to the south right-of-way line of said 28Th Street, the
northeast corner of Lot 1, Taylor & McBrayer Subdivision according to plat recorded in
Volume 388-F,Page 77, Plat Records of Tarrant County, Texas;
Thence: southeasterly about 36.0 feet;
Thence: southeasterly about 55.0 feet to the east right-of-way line of Warfield Street, the
northwest corner of Lot 54, of said Addition;
Thence: with the south right-of-way line of said 28Th Street bearing EAST, about 185.0
feet to the west right-of-way line of said North Freeway;
Thence: southeasterly about 320.0 feet to the northeast corner of Lot 1, Block 1, Lonestar
Forklift Addition according to plat recorded in Cabinet A, Slide 12844, Plat Records of
Tarrant County, Texas;
Thence: bearing roughly SOUTH, about 784.0 feet to the northeast corner of Lot 1, Block
1, McCann Addition according to plat recorded in Cabinet A, Slide 10865, Plat Records
of Tarrant County, Texas, lying on said North Freeway right-of-way line;
Thence: WEST, about 259.0 feet to the east right-of-way line of Cold Springs Road, the
northwest corner of said Addition;
Thence: bearing roughly South 10 degrees West, About 70.0 feet to its intersection with
the east line of a T.E.S.Co. right-of-way per deed recorded in Volume 1520, Page 363,
Deed Records of Tarrant County, Texas;
Thence: bearing roughly SOUTH, about 837.0 feet to the north right-of-way line of Fort
Worth Belt Railroad Co. per deed recorded in Volume 119, Page 407, Deed Records of
Tarrant County, Texas;
Thence: southwesterly about 240.0 feet to the southwest corner of that certain tract of
land conveyed to Trinity Industries, Inc. according to deed recorded in Volume 6181,
Page 563, Deed Records of Tarrant County, Texas lying on the east right-of-way line of
said Cold Springs Road;
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No.21550-12-2014
City of Fort Worth,Texas
Thence: bearing roughly North 29 degrees East about 259.0 feet to an angle point of said
right-of-way;
Thence: bearing roughly NORTH, about 174.0 feet to the intersection of the east right-of-
way line of Warfield Avenue and the west right-of-way line of Cold Springs Road;
Thence: bearing roughly NORTH with the east right-of-way line of said Warfield Street
about 840.0 feet to its intersection with the north right-of-way line of Warwick Street,the
southwest corner of Lot 42 of said Taylor&McBrayer Subdivision;
Thence: WEST, about 180.50 feet to the intersection of the east right-of-way line of
Sterling Street,the southwest corner of Lot 13 of said Subdivision;
Thence: with said right-of-way line,NORTH about 600.0 feet;
Thence: bearing roughly WEST, about 1,551.0 feet along the north right-of-way line of
Salisbury Avenue to the west right-of-way line of Hale Avenue, the southeast corner of
Lot 8, Block 25, Diamond Hill Addition according to plat recorded in Volume 388, Page
21, Plat Records of Tarrant County, Texas;
Thence: with the west right-of-way line of Hale Avenue SOUTH, about 300.0 feet to its
intersection with the north right-of-way line of Orion Avenue, the southeast corner of Lot
10,Block 25 of said Addition;
Thence: with said Orion Avenue right-of-way line WEST, about 1,225.0 feet to the
southwest corner of Lot 17,Block 8 of said Diamond Hill Addition;
Thence: bearing roughly South 45 degrees East about 67.0 feet to the south right-of-way
line of said Orion Avenue, the northwest corner of Lot B, Block 9 of said Addition
abutting Trail Drivers Park;
Thence: bearing roughly South 21 degrees West, about 439.0 feet to the southwest corner
of Lot 12 of said Block;
Thence: bearing roughly North 57 degrees West, about 994.0 feet to the southeast corner
of Lot 12, Block 5 of said Addition;
Thence: bearing roughly South 81 degrees West, about 110.0 feet to the northeast corner
of Lot 11,Block 5 of said Addition;
Thence: bearing roughly South 85 degrees West, about 120.0 feet to the east right-of-way
line of Decatur Avenue,the southwest corner of Lot 12, Block 5 of said Addition:
Thence: bearing roughly North 58 degrees West, about 64.0 feet to the west right-of-way
line of Decatur Avenue,the southeast corner of Lot 2A1, Block 2, Fort Worth Stockyards
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No.21550-12-2014
City of Fort Worth,Texas
Company, according to plat recorded in Volume 388-A, Page 111, Plat Records of
Tarrant County, Texas;
Thence: with said Decatur Ave right-of-way line bearing roughly South 6 degrees East,
about 506.0 feet;
Thence: bearing roughly SOUTH, about 975.0 feet to the north right-of-way line of Fort
Worth Belt Railroad right-of-way,the southeast corner of Tract 10,Abstract 954 of the E.
Little Survey as conveyed to DFW K & H Real Estate, LLC per deed recorded at
Instrument No. D206009372, Deed Records of Tarrant County,Texas;
Thence: bearing roughly North 82 degrees East, about 54.0 feet to the east right-of-way
line of said Decatur Avenue, the southwest corner of Lot 2A, Block 4 of said Diamond
Hill Addition;
Thence: bearing roughly North 72 degrees East, about 134.0 feet to the southwest corner
of Lot 31, Block 3 of said Addition:
Thence:NORTH, about 115.0 feet to the northwest corner of said Lot 31;
Thence: bearing roughly North 88 degrees East, about 125.0 feet to the northeast corner
of said Lot lying on the west right-of-way line of Peak Street;
Thence: bearing roughly South 47 degrees East, about 79.0 feet to the southwest corner
of Lot 2, Block 4 of said Diamond Hill Addition lying on the east right-of-way line of
Peak Street and the north right-of-way line of said Fort Worth Belt Railroad;
Thence: northeasterly along said railroad right-of-way line about 3,182.0 feet to a point
lying on the approximate survey line of the E. Little Survey, Abstract No. 954 and the
S.K. Smith Survey, Abstract No. 1417 and lying on the southerly line of Lot 12, Block 40
of said Diamond Hill Addition;
Thence: bearing roughly SOUTH, about 103.0 feet to the south line of said Fort Worth
Belt Railroad right-of-way lying on the north line of Lot 4, Block 1, Gorbett Industrial
Addition according to plat recorded in Volume 388-216, Page 4, Plat Records of Tarrant
County, Texas;
Thence: southeasterly with said right-of-way line about 562.0 feet to the west right-of-
way line of Cold Springs Road,the northeast corner of said Addition;
Thence: southwesterly along said west right-of-way line about 1,541.0 feet to the north
right-of-way line of Northside Drive, the southeast corner of Lot 2, Block 1, Delta
Industrial District according to plat recorded in Volume 388-45,page 68, Plat Records of
Tarrant County, Texas;
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No.21550-12-2014
City of Fort Worth,Texas
Thence: southwesterly along said right-of-way line curving to the left with a radius of
624.36 feet, an arc length of 431.52 feet to the southwest corner of said Lot;
Thence: bearing roughly North 10 degrees East, about 469.50 feet along the westerly line
of said Delta Industrial District plat to the southeast corner of Lot 1, Block 2, Delta
Industrial District according to plat recorded in Volume 388-168, Page 59, Plat Records
of Tarrant County, Texas;
Thence: bearing roughly North 76 degrees West, about 1,177.0 feet to the southwest
corner of said Lot and Block;
Thence: bearing roughly North 12 degrees East, about 681.50 feet to the south right-of-
way line of Brennan Avenue,the northwest corner of said Lot 1,Block 2;
Thence: bearing roughly North 72 degrees West along said right-of-way line about 155.0
feet to the northeast corner of Lot 2, Block 47, Diamond Hill Addition according to plat
recorded in Volume 388-209,Page 55,Plat Records of Tarrant County, Texas;
Thence: bearing roughly South 12 degrees West, about 547.50 feet to the southeast
corner of Lot 2 of said Addition at an ell corner of Lot 1, Block 1 Brennan Avenue
Service Center Addition according to plat recorded in Cabinet A, Slide 835, Plat Records
of Tarrant County, Texas;
Thence: bearing roughly North 80 degrees West, about 1,147.0 feet to the northwest
corner of said Lot 1;
Thence: bearing roughly South 10 degrees West, about 580.0 feet to an ell corner of said
Lot 1,the southeast corner of Lot 20A of said Diamond Hill Addition;
Thence: bearing roughly North 80 degrees West, about 446.0 feet;
Thence: bearing roughly South 58 degrees West, about 3 1.0 feet;
Thence: bearing roughly South 77 degrees West, about 142.0 feet;
Thence: bearing roughly South 60 degrees West, about 195.0 feet;
Thence: bearing roughly South 45 degrees West, about 274.0 feet to the intersection of
the east right-of-way line of Samuels Avenue;
Thence: bearing roughly North 37 degrees West, about 71.50 feet to the southeast corner
of Block 13 of said Fort Worth Stockyards Company Addition lying on the north right-
of-way line of 23Rd Street;
Thence: bearing roughly South 78 degrees West, about 48.0 feet;
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No.21550-12-2014
City of Fort Worth,Texas
Thence: continuing with said right-of-way line bearing roughly WEST, about 1,743.0 feet
to its intersection with the east right-of-way line of Niles City Blvd;
Thence:westerly with said right-of-way line about 518.0 feet;
Thence: bearing roughly SOUTH, about 204.0 feet to the westerly southwest corner of
Block 20 of said Fort Worth Stockyards Company Addition, the northwest corner of Lot
1R, Block 178R, M.G. Ellis Addition according to deed recorded at Instrument No.
D209298051 and D209298052,Deed Records of Tarrant County, Texas;
Thence: bearing roughly South 60 degrees East, about 23.0 feet;
Thence: bearing roughly South 55 degrees East, about 112.40 feet;
Thence: bearing roughly South 53 degrees East,about 109.40 feet;
Thence: bearing roughly South 78 degrees 42 minutes East, about 102.0 feet to the
northeast corner of said Lot 1R, lying on the west right-of-way line of Fort Worth &
Western Railroad:
Thence: with said railroad right-of-way line bearing roughly SOUTH, about 707.0 feet to
the north right-of-way line of 21 St Street;
Thence: with said right-of-way line EAST, about 229.0 feet;
Thence: southeasterly with said railroad right-of-way line about 710.0 feet;
Thence: WEST, about 39.0 feet;
Thence: bearing roughly South 4 degrees West, about 1,216.0 feet to the north right-of-
way line of Northside Drive, the southwest corner of Lot 1, Block 54, North Fort Worth
Addition according to plat recorded in Volume 63, page 149, Plat Records of Tarrant
County, Texas;
Thence: with said right-of-way line, bearing roughly South 60 degrees West, about 956.0
feet to the southeast corner of Lot 22, Block 78 of said Addition lying on the west right-
of-way line of North Main Street;
Thence: with said right-of-way line bearing roughly South 30 degrees East, about 434.50
feet to the southeast corner of Lot 1, Block 59 of said Addition lying on the north right-
of-way line of Grand Avenue;
Thence: southwesterly with the north right-of-way line of Grand Avenue, about 652.0
feet to the Place of Beginning, containing some 925.29 acres of land,more or less.
Bearings and Distances per City of Fort Worth Graphic Information System.
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No. 21550-12-2014
City of Fort Worth,Texas
This description prepared by Steve Cisneros, TPW Survey Services, October of 2014.
" This document was prepared under 22 TAC 663.21, does not reflect the results of an
on the ground survey, and is not to be used to convey or establish interests in real
property except those rights or interests implied or established by the creation or
reconfiguration of the boundary of the political subdivision for which it was prepared."
Ordinance Designating Tax Increment Reinvestment Zone Number Fifteen, Ordinance No.21550-12-2014
City of Fort Worth,Texas
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City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 12/212014 - Ordinance No. 21550-12-2014
DATE: Tuesday, December 02, 2014 REFERENCE NO.: G-18370
LOG NAME: 17TIF15ESTABLISH
SUBJECT:
Conduct a Public Hearing and Adopt Ordinance Establishing Tax Increment Reinvestment Zone Number
Fifteen, City of Fort Worth, Texas, Stockyards/Northside TIF (COUNCIL DISTRICT 2)
RECOMMENDATION:
It is recommended that the City Council:
1. Conduct a public hearing concerning the designation of Tax Increment Reinvestment Zone Number
Fifteen, City of Fort Worth, Texas, for tax increment financing purposes; and
2. Adopt the attached ordinance designating Tax Increment Reinvestment Zone Number Fifteen, City of
Fort Worth, Texas, pursuant to Chapter 311 of the Texas Tax Code and containing specific findings of fact
in support thereof.
DISCUSSION:
The proposed Tax Increment Reinvestment Zone No. 15, City of Fort Worth, Texas, more commonly
referred to as the Stockyards/Northside TIF, is located on approximately 925 acres of land in north Fort
Worth. The property is generally bounded by 29th Street to the north, Northside Drive to the south,
Interstate 35 to the east and Clinton Avenue to the west. The exact boundaries of the property are
described in Exhibit A of the attached ordinance.
The proposed Tax Increment Financing (TIF) district is being considered in order to finance public
infrastructure improvements in the area, such as road and access improvements, public infrastructure
improvements, streetscape, pedestrian improvements, public parking infrastructure, public amenities, and
other TIF-eligible costs to encourage redevelopment in the Stockyards and surrounding area. The
ordinance provides that the City will contribute 50 percent of its tax increment to the TIF district each year
the TIF district is in existence. The TIF district will expire on December 31, 2034, or an earlier date as of
which all project costs have been paid in full.
Per Chapter 311 of the Texas Tax Code (Tax Increment Financing Act), a public hearing is required to
establish a TIF district. Notice of this public hearing was delivered to the governing body of each taxing
unit that levies real property taxes on property located within the proposed TIF district and published in a
newspaper of general circulation at least seven days prior to this meeting.
The proposed area meets the criteria for designation as a reinvestment zone, pursuant to the Tax
Increment Financing Act, because the area is underdeveloped, blighted, and largely unproductive due to
insufficient infrastructure. These characteristics prevent development from occurring in the area solely
through private investment in the reasonably foreseeable future, thus substantially impairing and arresting
the sound growth of the City.
T __________. I 7'PT-rl cr,o•r n-DT TQU Pane I of 2
Because the Board of Directors for this District shall be empowered to govern the District as outlined in
Chapter 311 of the Texas Tax Code only, which includes the ability for the City Council to restrict the
powers of the Board, the designation of TIF Number 15 shall not result in a component unit of the City of
Fort Worth and all TIF funds will be accounted for in the Special Revenue Fund(s).
The proposed TIF district is located in COUNCIL DISTRICT 2.
FISCAL INFORMATION / CERTIFICATION:
The Financial Management Services Director certifies that this action will have no material effect on City
funds.
FUND CENTERS:
TO Fund/Account/Centers FROM Fund/Account/Centers
CERTIFICATIONS:
Submitted for City Manager's Office by: Fernando Costa (6122)
Originating Department Head: Jay Chapa (5804)
Additional Information Contact: Michael Hennig (7337)
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