HomeMy WebLinkAboutOrdinance 18396-12-2008ORDINANCE NO 18396-12-2008
AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE
CITY OF FORT WORTH AS `TAX ABATEMENT
REINVESTMENT ZONE NUMBER SIXTY-SIX, 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 Councils adoption on June 17 2008 of
Resolution No 3629-06-2008 (M&C G-16178) as subsequently amended, the City of
Fort Worth, Texas (the `City") has elected to be eligible to participate m tax abatement,
as authorized by and m accordance with the Property Redevelopment and Tax Abatement
Act, codified m Chapter 312 of the Texas Tax Code (the `Code") and
WHEREAS, pursuant to the City Council s adoption on November 27 2007 of
M&C G-15974 (the `Relocation Incentives Policy"), the City has included tax
abatement as one of the incentives that may be made available to businesses that are
displaced and must relocate due to a Mayor Public Infrastructure Project, as that term is
defined in the Relocation Incentives Policy and
WHEREAS, pursuant to the City Councils adoption on July 18 2006 of
Resolution No 3390-07 2006, the City Council has found that the Tnmty River Uptown
Project, as defined m Resolution No 3390-07 2006, is a Mayor Public Infrastructure
Project and that, therefore, businesses that are displaced and must relocate on account of
the Trinity River Uptown Project are eligible for incentives pursuant to and m accordance
with the Relocation Incentives Policy and
Page 1
Ordinance Designating T Abatement Reinvestment Zone Number Sixty-six,
City of Fort Worth, T
WHEREAS, 4CP Ltd. ("Company") currently operates its business on property
located at 1854 White Settlement Road, and
WHEREAS, Company has been notified by Tarrant Regional Water District that
Company will be displaced by the Tr~mty River Uptown Project; and
WHEREAS, Company desires to relocate its business to property located at
2904 Cullen Avenue, as more specifically described in Exhibit A of this Ordinance (the
`Zone"), which is located wrthm that area of the Crty defined by the Relocation
Incentives Policy as Area 2, and
WHEREAS, as a result of Company's relocation to the Zone, Company qualifies
for tax abatement under the Relocation Incentives Policy and
WHEREAS, on January 22, 2008 Company applied for a real and personal
property tax abatement and certain other incentives from the City under the Relocation
Incentives Policy and
WHEREAS, Company will need to make certain improvements to the property
within the Zone m order to operate its business there, which improvements are more
specifically described m Company's Relocation Incentives Application (collectively the
`Improvements") and
WHEREAS, on December 9 2008 the Crty Council held a public heanng
regarding the creation 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; and
Page 2
Ordinance Designating T Abatement Reinveshnent Zone Number Sixty-six,
City of Fort Worth, T
WHEREAS, notice of the Public Heanng was published in a newspaper of
general circulation m the City on November 29 2008, which satisfies the requirement of
Section 312.201(d)(1) of the Code that publication of the notice occur not later than the
seventh day before the date of the public hearing; and
WHEREAS, m accordance with Sections 312.201(d)(2) and (e) notice of the
Public Heanng was delivered in writing not later than the seventh day before the date of
the public hearing to the presiding officer of the governing body of each taxing unit that
includes m its boundaries real property that is to be included m the proposed Zone;
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 rt regarding the establishment of the
Zone and after conducting the Public Heanng 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 m 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 Chapter 312 of
the Code.
Page 3
Ordinance Designating T Abatement Reinvestment Zone Number Sixty-six,
City of Fort Worth, T
1.2. Once Company has completed the Improvements to the property within the Zone,
Company will be able to retain the 15 current employees that Company now
employs at the location from which it is being displaced.
1.3. Designation of the Zone as a reinvestment zone will enable Company to receive a
real property tax abatement that will assist Company m offsetting costs it must
incur solely due to its displacement by the Tnmty River Uptown Project and will
cause Company to redevelop property in the Zone for commercial purposes that
would not otherwise occur Therefore, as a result of designation as a reinvestment
zone, the area within the Zone is reasonably likely to contribute to the expansion
of pnmary employment and to attract mayor investment m the Zone that will be a
benefit to property in the Zone and will contribute to the economic development
of the City
1.4. The Improvements proposed for the Zone, as more specifically outlined in
Company's Relocation Incentives Application and the Public Heanng and which
will be made pursuant to a tax abatement agreement with Company that must
subsequently be approved by the City Council, are feasible and practical and,
once completed, will benefit the land included m the Zone as well as the City for
a penod m excess of ten (10) years, which is the statutory maximum term of any
tax abatement agreement entered into under the Chapter 312 of the Code.
Page 4
Ordinance Designating T Abatement Reinvestment Zone Number Sixty-six,
City of Fort Worth, T
Section 2.
DESIGNATION OF ZONE.
That the City Council hereby 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 granting a real property tax abatement,
as authorized by and m accordance with Chapter 312 of the Code. This Zone shall be
known as `Tax Abatement Reinvestment Zone Number Sixty-six, City of Fort Worth,
Texas. This project is eligible for commercial/industrial tax abatement pursuant to the
Relocation Incentives Policy
Section 3.
TERM OF ZONE.
That the Zone shall take effect upon the effective date of this Ordinance and
expire five (5) years thereafter The Zone maybe renewed by the City Council for one or
more subsequent terms of five (5) years or less.
Section 4.
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 ~urisdichon,
the remaining portions, sections or parts of sections of this Ordinance shall be and remain
m full force and effect and shall not m any way be impaired or affected by such decision,
opinion or judgment.
Page 5
Ordinance Designating T Abatement Reinvestment Zone Number Sixty-six,
City of Fort Worth, T
Section 5.
IMMEDIATE EFFECT
That this Ordinance shall take effect upon its adoption.
AND IT IS SO ORDAINED
ADOPTED AND EFFECTIVE December 9, 2008
APPROVED AS TO FORM AND LEGALITY
By
Peter Vaky
Assistant City Attorney
M&C•G-16388
Page 6
Ordinance Designating T Abatement Reinvestment Zone Number Sixty-six,
City of Fort Worth, T
EXHIBIT A
BOUNDARY DESCRIPTION OF ZONE
Lots 2-C and 2 F Block A, BAILEY'S INDUSTRIAL ADDITION an Addition to the
City of Fort Worth, Tarrant County Texas, according to plat recorded in Volume 388-M,
Page 487 Deed Records of Tarrant County Texas.
Ordinance Designating T Abatement Reinvestment Zone Number Sixty-six,
City of Fort Worth, T
Tax Abatement Reinvestment Zone 66
Ordinance Designating T Abatement Reinvestment Zone Number Sixty-six,
City of Fort Worth, T
City of Fort Worth, Texas
Economic & Community Devevlopment
Copyright 2008
City of Fort Worth, Texas
DATE Tuesday December 09 2008
LOG NAME 174CPRIZ
REFERENCE NO G-16388
SUBJECT
Public Hearing and Ordinance Designating Property at 2908 Cullen and 2909 Shamrock Avenue as
Tax Abatement Reinvestment Zone No 66 City of Fort Worth Texas
__
RECOMMENDATION
It is recommended that the City Council
1 Hold a public hearing concerning the designation of Tax Abatement Reinvestment Zone No 66 City of
Fort Worth Texas and
2. Adopt the attached ordinance designating Tax Abatement Reinvestment Zone No 66 City of Fort
Worth Texas, pursuant to and in accordance with Chapter 312 of the Texas Tax Code
DISCUSSION
The proposed Reinvestment Zone No 66 City of Fort Worth Texas (Zone) is located at 2908 Cullen Street
and 2909 Shamrock Avenue in central Fort Worth The exact boundaries of the proposed zone are
described in the map and property description set forth in Exhibit A of the attached ordinance. 4CP Ltd is
being displaced from its current location at 1854 White Settlement Road due to the Trinity River Uptown
Project and is relocating to the proposed site Pursuant to Resolution No 3390-07 2006 the Trinity River
Uptown Project has been designated by the City Council as a 'Major Public Infrastructure Project. As
such businesses displaced by that Project are eligible to receive incentives including tax abatement, under
the City's Relocation Incentives Policy
As required by Chapter 312 of the Texas Tax Code a public hearing must be conducted regarding the
creation of the Zone Notice of this hearing was 1) delivered to the governing body of each affected taxing
unit; and 2) published in a newspaper of general circulation at least seven days prior to this hearing
The area encompassing the proposed Zone meets the statutory criteria for designation as a tax abatement
reinvestment zone set forth in Chapter 312 of the Texas Tax Code in that the area is reasonably likely as a
result of the designation to contribute to the retention or expansion of primary employment or to attract
major investment in the Zone that would be a benefit to the property and that would contribute to the
economic development of the City Furthermore the improvements sought in the Zone are feasible
practical and would be a benefit to the land to be included in the Zone and to the City after any tax
abatement agreements which may be entered into have expired
The term of the proposed Zone 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
This project is located in COUNCIL DISTRICT 9
Logname: 174CPRIZ Page 1 of 2
FISCAL INFORMATION/CERTIFICATION
The Financial Management Services Director certifies that this action will have no material effect on City
funds
TO Fund/Account/Centers FROM Fund/Account/Centers
Submitted for City Manager's Office by_.
Ori inating Department Head.
Additional Information Contact:
Tom Higgins (6192)
Jay Chapa (5804)
Mark Folden (8634)
Logname: 174CPRIZ Page 2 of 2