HomeMy WebLinkAboutOrdinance 18398-12-2008ORDINANCE NO 18398-12-2008
AN ORDINANCE ENLARGING THE BOUNDARIES OF TAX
INCREMENT REINVESTMENT ZONE NUMBER SEVEN CITY OF
FORT WORTH, TEXAS AND CONTAINING OTHER MATTERS
RELATED TO THE ZONE.
WHEREAS, pursuant to Ordinance No 15774 adopted by the City Council of the City
of Fort Worth, Texas (the `City") on December 9 2003 the City created Tax Increment
Reinvestment Zone Number Seven, City of Fort Worth, Texas (the `Zone") and
WHEREAS, Section 311 007(a) of the Texas Tax Code (the `Code"), subject to certain
provislons of Section 311 006 of the Code (if applicable), allows the City Council to enlarge the
boundaries of an existing reinvestment zone by ordinance; and
WHEREAS Section 311 006 of the Code allows a municipality to enlarge the
boundaries of an existing reinvestment zone pursuant to Section 311 007(a) of the Code so long
as (i) no more than ten percent (10%) of the property to be added to the zone, excluding property
that is dedicated for public use, Is used for residential purposes, as defined m Section 311 006(d)
of the Code; (ii) the amended boundaries of the reinvestment zone will not contain more than
fifteen percent (15%) of the total appraised value of taxable real property to the municipality and
m 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, the City Council wishes to expand the Zone to include three (3) parcels of
land adjacent to the current boundaries of the Zone, as described and depicted in Exhibit A ,
attached hereto and hereby made a part of this Ordinance for all purposes (collectively the
`Expansion Area") and
Page 1
Ordinance Enlarging T Increment Reinvestment Zone Number Seven,
City of Fort Worth, T
WHEREAS, the current western boundary of the Zone bisects a portion of Harmon
Road, and, in order to make public improvements to Harmon Road with tax increment funds of
the Zone, the City Council desires to expand the Zone to include all of that portion of Harmon
Road that forms the western boundary of the TIF north of North Tarrant Parkway as more
specifically described m the property description m Exhibit A entitled `Tract 1 Harmon Road
and depicted in the maps of Exhibit A and Exhibit ~B", attached hereto and hereby made a
part of this Ordinance for all purposes, and
WHEREAS the current northwestern boundary of the Zone bisects a proposed
subdivision that was platted after the Zone was initially designated, and m order to fund public
improvements m that portion of the Zone in a more orderly manner and to more accurately
calculate the tax increment payable to the Zone each year the City Council desires to expand the
Zone to include all of that property specifically described in the property description in Exhibit
A entitled `Tract 2, Open Land" and depicted in the maps of Exhibits A and `B" and
WHEREAS, the current eastern boundary of the Zone bisects portions of Old Denton
Road, and, m order to make public improvements to Old Denton Road with tax increment funds
of the Zone, the City Council desires to expand the Zone to include all of that portion of Old
Denton Road that forms the eastern boundary of the TIF north of North Tarrant Parkway as
more specifically described m the property description m Exhibit A entitled `Tract 3 Old
Denton RoadlNorth Riverside Drive" and depicted m the maps of Exhibits A and `B and
WHEREAS, on December 9 2008 the City Council held a public hearing regarding the
enlargement of the Zone and its benefits to the City and to property in the Zone and afforded a
reasonable opportumty for all interested persons to speak for or against the addition of the
Expansion Area into the Zone; and
Page 2
Ordinance Enlarging T Increment Reinveshnent Zone Number Seven,
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 a date not later than seven (7) days prior to the
date of the public heanng; and
WHEREAS, pnor to the public heanng the City provided written notice to all taxing
units lev}nng real property taxes within the Zone of the City's intention to add the property
within the Expansion Area into the Zone and of the pubhc heanng.
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 enlargement of the Zone and
after conducting a public heanng regarding the enlargement of the Zone and its benefits to the
City and to property m the Zone and affording a reasonable opportunity for all interested persons
to speak for or against the enlargement of the Zone, the City Council hereby makes the following
findings of fact:
1.1 The statements and facts set forth in the recitals of this Ordinance are true and correct.
1.2. The Expansion Area is predominantly open and is located between the central city area of
the City and Fort Worth Alliance Airport, a corndor of the City that is likely to become
increasingly vital to the City's future development and economic well-being. However
like the property composing the original boundaries of the Zone, the Expansion Area,
together with the property composing the original boundaries of the TIF lacks adequate
Page 3
Ordinance Enlarging T Increment Reinvestment Zone Number Seven,
City of Fort Worth, T
infrastructure and methods of ingress and egress, and attempts at pravate development m
the area without public incentives and Zone designation have not been successful.
Because of these and other factors presented to and known by the City Council, the
Expansion Area substantially impairs and arrests the sound growth of the City The
Expansion Area therefore meets the crateraa for designation of a reinvestment zone
pursuant to Section 311 005(a) of the Code and, as a result, is eligible to be added as part
of the Zone.
1.3 Development within the Expansion Area will not occur solely through pnvate investment
m the reasonably foreseeable future.
14 Property in the Zone, as expanded to include the Expansion Area, will be contiguous.
1.5. Improvements in the Zone, including the Expansion Area, as specifically outlined in the
project plan adopted by the Zone s board of directors, will significantly enhance the value
of all the taxable real property in the Zone, including the Expansion Area, and will be of
general benefit to the City
1.6. The Expansion Area does not include property more than ten percent (10%) of which,
excluding property dedicated to public use, is used for residential purposes, as defined m
Section 311 006(d) of the Code.
1 7 The Expansion Area does not include more than fifteen percent (15%) of the total
appraised value of taxable real property m the City and m the industrial distracts created
by the City
1.8. With the addition of the property comprasing the Expansion Area, the Zone will not
contain more than fifteen percent (15%) of the total appraised value of real property
taxable by any county or school distract.
Page 4
Ordinance Enlarging T Increment Reinveshnent Zone Number Seven,
City of Fort Worth, T
Section 2.
DESIGNATION OF EXPANSION AREA FOR INCLUSION IN ZONE.
That the City Council hereby enlarges the boundaries of the Zone by adding the
Expansion Area, specifically described in Exhibit A The Zone, as enlarged, well thus contain
all of the property specifically described and depicted m Exhibit `B" The Zone, as enlarged, has
been designated under Section 311 005(a)(2) of the Code and will continue to be known as `Tax
Increment Reinvestment Zone Number Seven, City of Fort Worth, Texas.
Section 3.
ZONE BOARD OF DIRECTORS.
That the board of directors for the Zone will remain unchanged and shall continue to
conform to the requirements of Section 311 009 of the Code.
Section 4
TERM OF ZONE.
That the addition of the property comprising the Expansion Area into Zone shall take
effect upon the adoption of this Ordinance. The Zone, as enlarged, shall terminate in accordance
with Section 5 of Ordinance No 15774
Page 5
Ordinance Enlarging T Increment Reinvestment Zone Number Seven,
City of Fort Worth, T
Section 5.
DETERMINATION OF TAX INCREMENT BASE.
That the tax increment base, as defined by Section 311 012(c) of the Code, for the
Expansion Area shall be the total appraised value of the Expansion Area taxable by a taxing unit
for the year 2008 which is the year in which the Expansion Area was added to the Zone. The
tax increment base for the property located within the boundaries of the Zone prior to the
adoption of this Ordinance shall remain unchanged.
Section 6.
TAX INCREMENT FUND
That the Tax Increment Fund created and established for the Zone pursuant to Section 7
of Ordinance No 15774 (the `TIF Fund") shall include the percentage of any tax increment (as
defined by Section 311 012(a) of the Code) produced by property in the Expansion Area that (i)
the City dedicates to the TIF Fund pursuant to and in accordance with Ordinance No 15774 and
Chapter 311 of the Code and (ii) each taxing unit which levies real property taxes on property
located within the Expansion Area elects to dedicate to the TIF Fund under a participation
agreement with the City as authorized by Section 311 013(f) 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 amendments
to participation agreements with taxing units that levy real property taxes on property within the
Page 6
Ordinance Enlarging T Increment Reinvestment Zone Nmnber Seven,
City of Fort Worth, T
Expansion Area pursuant to which such taxing units agree to deposit tax increment generated by
such property Into the tax Increment fund of 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 ~urlsdichon, the remaining
portions, sections or parts of sections of this Ordinance shall be and remain m full force and
effect and shall not In any way be impaired or affected by such decision, opinion or~udgment.
Section 9
EFFECTIVENESS.
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 December 9, 2008
Page 7
Ordinance Enlarging T Increment Reinvestment Zone Number Seven,
City of Fort Worth, T
APPROVED AS TO FORM AND LEGALITY
By.
Peter Vaky
Assistant City Attorney
Date• l2rJ- D ~
M&C G-16390
Page 8
Ordinance Enlarging T [ncrement Reinvestment Zone Number Seven,
City of Fort Worth, T
EXHIBIT A
LEGAL DESCRIPTION AND MAP
OF THE EXPANSION AREA
TRACT L HARMON ROAD,
Being a tract of land situated in the Josiah Walker Survey Abstract Number 1600 and
being more particularly described by metes and bounds as follows.
BEGINNING at the intersection of the northeasterly nght-of way line of Highway
Number 287 and on the centerline of Harmon Road,
THENCE with a line perpendicular to said centerline, South 89 degrees 43 minutes 08
seconds West, 65 feet, to the proposed future west nght-of way of Harmon Road, a
proposed 130 foot nght-of way
THENCE, with a line 65 feet westerly of and parallel with said centerline, North 00
degrees 16 minutes 52 seconds West, (called North 00 degrees 06 minutes 23 seconds
East, according to plat of Presidio Village, recorded at County Clerks Instrument Number
D206059326),4,545 58 feet;
THENCE with a line perpendicular to said centerline, South 89 degrees 53 minutes 37
seconds East, 65 feet, to said centerline, and being the southwest corner of the
nght-of way dedication for Harmon Road, according to said plat, said corner being
403 58 feet South 00 degrees 06 minutes 23 seconds West of the northwest corner of that
certain tract of land described m a deed to Societe Generele Financial Corporation as
recorded in Volume 14738, Page 59 of the Deed Records of Tarrant County Texas, said
northwest corner being at the intersection of the centerline of Harmon Road with the
south nght-of -way line of Park Glen Boulevard, according to plat thereof recorded at
County Clerks Instrument Number D201057259 said Park Glen Boulevard now known
as Heritage Trace Parkway
THENCE, with said centerline, South 00 degrees 16 minutes 52 seconds East, 4,545 58
feet, to the place of beginning, and containing some 6 8 acres of land, more or less.
TRACT II, OPEN LAND;
Being a tract of land situated in the William McCowen Survey Abstract Number 999
and being more particularly described by metes and bounds as follows
BEGINNING the southwest corner of the nght-of way dedication for Harmon Road,
according to plat of Presidio Village, recorded at County Clerks Instrument Number
D206059326 said corner being 403 58 feet South 00 degrees 06 minutes 23 seconds
West of the northwest corner of that certain tract of land described m a deed to Societe
Generale Financial Corporation as recorded m Volume 14738 Page 59 of the Deed
Records of Tarrant County Texas, said northwest corner being at the intersection of the
centerline of Harmon Road with the south nght-of -way line of Park Glen Boulevard,
according to plat thereof recorded at County Clerks Instrument Number D201057259
said Park Glen Boulevard now known as Heritage Trace Parkway
THENCE leaving said centerline, with the southwest line of said plat, South 56 degrees
45 minutes 49 seconds East, at 557 75 feet, pass the common corner of the plat of
Presidio Village, recorded at County Clerks Instrument Number D207264539 and with
its southwest line, in a11745 89 feet, to an angle point;
THENCE continuing with the southwest line of said plat, South 49 degrees 44 minutes
12 seconds East, 487 44 feet, to an angle point;
THENCE continuing with the southwest line of said plat, South 87 degrees 32 minutes
07 seconds East, 33 15 feet, to the northwest corner of the plat of Presidio Village,
recorded at County Clerks Instrument Number D207264535
THENCE with the west line of said plat, South 00 degrees 07 minutes 57 seconds West,
87 49 feet, to the beginning of a curve having a radius of 300 00 feet;
THENCE contmumg with said west line, and southwesterly with said curve to the raght,
through a central angle of 14 degrees 19 minutes 54 seconds an arc distance of 75 04 feet,
to its end,
THENCE continuing with said west line, South 14 degrees 27 minutes 51 seconds West,
87 51 feet, to the beginning of a curve having a radius of 350 00 feet;
THENCE contmumg with said west line, and southeasterly with said curve to the left,
through a central angle of 02 degrees 20 minutes 06 seconds an arc distance of 14.26 feet,
to its end, and being the most westerly southwest corner of said plat;
THENCE with the south line of said plat South 77 degrees 52 minutes 15 seconds East,
50 feet;
THENCE contmumg with said south line, South 87 degrees 32 minutes 07 seconds East„
714.99 feet, to a west line of the oraginal TIF Distract Number 7
THENCE with said west line, SOUTH, 1162 07 feet, to an ell corner of the onginal TIF
Distract Number 7
THENCE with the most west north line of the onginal TIF Distract Number 7 South 89
degrees 24 minutes O1 seconds West, 1763 feet, to its most west northwest corner and
being in the centerline of Harmon Road,
THENCE with said centerline, North 00 degrees 16 minutes 52 seconds West, (called
North 00 degrees 06 minutes 23 seconds East, according to plat of Presidio Village,
recorded at County Clerks Instrument Number D206059326), 2,200 42 feet, to the Place
of Beginning, and containing some 63 5 acres of land, more or less.
TRACT 3, OLD DENTON ROAD/NORTH RIVERSIDE DRIVE
Being a tract of land situated m the Samuel P Williams Survey Abstract Number 1690
and the Charles C Whyte Survey Abstract Number 1611 Tarrant County Texas, and
being more particularly described by metes and bounds as follows.
BEGINNING at the northeast corner of that certain tract of land described by deed to
H.R. Perot as recorded in Volume 8494 Page 1570 of the Deed Records Tarrant County
Texas,
THENCE easterly 80 feet, to the proposed easterly right-of way of Old Denton Road,
and being 55 feet easterly of and perpendicular to the proposed centerline of said Old
Denton Road, a proposed 110 foot right-of way
THENCE along said proposed easterly right-of way and with a line 55 feet easterly of
and parallel with said centerline, southerly at 11 140 feet pass its intersection with the
projected northerly line of that tract of land described by deed to L. W Lobb, recorded in
'Volume 2221 Page 413 of the Deed Records of Tarrant County Texas, in all 13 095
feet, to its intersection with the projected southerly line of that certain tract of land
described by deed to Lowell Hughes recorded in Volume 4389 Page 780 of the Deed
Records Tarrant County Texas,
THENCE westerly with said projection, 80 feet, to the west right-of way of said Old
Denton Road,
THENCE with said west right-of way northerly 13 095 feet, to the Place of Beginning,
and containing some 24 acres of land, more or less.
`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 m real property
except those rights and interests implied or established by the creation or reconfiguration
of the boundary of the political subdivision for which it was prepared.
This description prepared by Hans Kevin Hansen, RPLS # 4786 m electronic format m
November 2008 being additions to TIF District # 7 description, calls for monumentation
being contained therein, bearings and distances from said description, or from or
calculated from cited instruments.
Tax Increment Reinvestment Zone Number Seven North Tarrant Parkway TIF
GOLDEN TRIANGLE
GOLDEN HEIGHTS ~~
w
z
m Wi ~TFR JOSH
H
q y~,k
cos ~
_ ~ GOLDEN TRIANGLE
DS RANCH ~--~~ ~'A.Q
O
-~~ 1 s
~~ ~
z
p t~ cum r`~i; ~'i
~ Y Q m
S O m ~ i
m
~_
~ y~C~"QUAIL GRO pRE ~m M
,~~ SIOIO VIIS7'q m z
~..
/- `a ` ~ _
\~ \ ~ ~ ~ OLIVE HILL, ~
~~ x ~ p.
\\ G ~-O, ~ 1 m:
~ ~ ..s8 TARRANT ~'
~~ ~\~GS F
`~ "~ ~ _ ~
~ ~~~~~~ ~
w FM 3479 ~ ? ' ~.
~~ ~ ~y~
,~ ~ z \. y
/~ ~S ---p \\ \~
PRESTIGE ¢ L ~
MACI' _
~ Q
~ o:
VINTAGETS~ I_C9
EN
w
E
A~~~~
F= I
THOMPSON
o ~ ~
~_ ~ TIF Boundary
Expansion Area
EXHIBIT `B"
LEGAL DESCRIPTION AND MAP
OF THE ZONE FOLLOWING EXPANSION
Being a tract of land situated m the William McCowen Survey Abstract Number 99 the
Josiah Walker Survey Abstract Number 1600 the Samuel P Williams Survey Abstract
Number 1690 and the Charles C Whyte Survey Abstract Number 1611 Tarrant
County Texas, and being more particularly described by metes and bounds as follows
BEGINNING at an axle found at the southwest corner of that Tract 1 as described by
deed to Ellesmere Investments Corporation, N V as recorded in Volume 6617 Page 99
of the Deed Records of Tarrant County Texas, said point being called the southwest
corner of said McCowen Survey therein,
THENCE with the west line of said McCowen Survey and west line of said Ellesmere
Tract, North 00 degrees 03 minutes 13 seconds East, at 2466 71 feet pass a 5/8 inch iron
rod m the southerly nght-of way of Harmon Road where it turns north, m a113,295.22
feet, to the most west northwest corner of said Ellesmere Tract, and being in the
southwesterly nght-of way of Highway Number 287
THENCE crossing said Highway Number 287 North 00 degrees 21 minutes 45 seconds
West, 1 652 76 feet, to the southwest corner of a 305 5 acre tract of land described at
County Clerks Instrument Number D206161202, and being in the northeasterly nght-of
way line of Highway Number 287 and on the centerline of Harmon Road,
THENCE with a line perpendicular to said centerline, South 89 degrees 43 minutes 08
seconds West, 65 feet, to the proposed future west nght-of way of Harmon Road, a
proposed 130 foot nght-of way
THENCE, with a line 65 feet westerly of and parallel with said centerline, North 00
degrees 16 minutes 52 seconds West, (called North 00 degrees 06 minutes 23 seconds
East, according to plat of Presidio Village, recorded at County Clerks Instrument Number
D206059326),4,545 58 feet;
THENCE with a line perpendicular to said centerline, South 89 degrees 53 minutes 37
seconds East, 65 feet, to said centerline, and being the southwest corner of the
nght-of way dedication for Harmon Road, according to said plat, said corner being
403 58 feet South 00 degrees 06 minutes 23 seconds West of the northwest corner of that
certain tract of land described m a deed to Societe Generele Financial Corporation as
recorded in Volume 14738 Page 59 of the Deed Records of Tarrant County Texas, said
northwest corner being at the intersection of the centerline of Harmon Road with the
south nght-of -way line of Park Glen Boulevard, according to plat thereof recorded at
County Clerks Instrument Number D201057259 said Park Glen Boulevard now known
as Heritage Trace Parkway
THENCE leaving said centerline, with the southwest line of said plat, South 56 degrees
45 minutes 49 seconds East, at 557 75 feet, pass the common corner of the plat of
Presidio Village, recorded at County Clerks Instrument Number D207264539 and with
its southwest line, m a11745 89 feet, to an angle point;
THENCE continuing with the southwest line of said plat, South 49 degrees 44 minutes
12 seconds East, 487 44 feet, to an angle point;
THENCE contmumg with the southwest line of said plat, South 87 degrees 32 minutes
07 seconds East, 33 15 feet, to the northwest corner of the plat of Presidio Village,
recorded at County Clerks Instrument Number D207264535
THENCE with the west line of said plat, South 00 degrees 07 minutes 57 seconds West,
87 49 feet, to the beginning of a curve having a radius of 300 00 feet;
THENCE contmumg with said west line, and southwesterly with said curve to the right,
through a central angle of 14 degrees 19 minutes 54 seconds an arc distance of 75 04 feet,
to its end,
THENCE continuing with said west line, South 14 degrees 27 minutes 51 seconds West,
87.51 feet, to the beginning of a curve having a radius of 350 00 feet;
THENCE contmumg with said west line, and southeasterly with said curve to the left,
through a central angle of 02 degrees 20 minutes 06 seconds an arc distance of 14.26 feet,
to its end, and being the most westerly southwest corner of said plat;
THENCE with the south line of said plat South 77 degrees 52 minutes 15 seconds East,
50 feet;
THENCE contmumg with said south line, South 87 degrees 32 minutes 07 seconds East,
714 99 feet;
THENCE NORTH, at 1537 94 feet, pass the north right-of way of said Heritage Trace
Parkway in all 1,962 94 feet;
THENCE S 89 degrees 58 minutes 26 seconds E, 903 feet;
THENCE N 00 degrees 03 minutes 21 seconds W 1484 feet, to the City of Fort Worth
City hmrt line as described m City Ordinance Number 9689•
THENCE with the boundary of said annexation tract, easterly at 1,576 feet pass the
westerly right-of way of Interstate Highway 35W at the northwest corner of that certain
judgment filed in Volume 4186, Page 386 of the Deed Records of Tarrant County Texas,
crossing said Interstate Highway 35W mall 1 926 feet, to the easterly right-of way of
said Highway 35W
THENCE with said easterly right-of way northerly 4,845 feet, to the southerly
right-of way of Golden Triangle Boulevard,
THENCE with the southerly right-of way of Golden Triangle Boulevard, easterly at
some 2420 feet, pass the northeast corner of that certain tract of land described by deed to
H.R. Perot as recorded m Volume 8494 Page 1570 of the Deed Records Tarrant County
Texas, in all some 2500 feet, to the proposed easterly right-of way of Old Denton Road,
and being 55 feet easterly of and perpendicular to the proposed centerline of said Old
Denton Road, a proposed 110 foot right-of way
THENCE along said proposed easterly right-of way and with a line 55 feet easterly of
and parallel with said centerline, southerly at 11 140 feet pass its intersection with the
projected northerly line of that tract of land described by deed to L. W Lobb, recorded in
Volume 2221 Page 413 of the Deed Records of Tarrant County Texas, in all 13 095
feet, to its intersection with the projected southerly line of that certain tract of land
described by deed to Lowell Hughes recorded in Volume 4389 Page 780 of the Deed
Records Tarrant County Texas,
THENCE westerly with said projection, 80 feet, to the west right-of way of said Old
Denton Road, and being at the north right-of way of North Tarrant Parkway
THENCE southerly with the westerly right-of way of Old Denton Road 1 740 feet, to the
southerly line of that certain Tract 8 described by deed to Hillwood/2500 LTD recorded
in Volume 9409 Page 1403 Deed Records Tarrant County Texas,
THENCE westerly 2,945 feet with the southerly line of said Hillwood/2500 LTD Tract
8 to the easterly right-of way of said Highway 35W
THENCE southerly with said easterly right-of way 1,500 feet, to the south line of said
McCowen Survey
THENCE westerly with the south line of said McCowen Survey crossing said Highway
35 W and crossing the southwesterly right-of way of said Highway 287 at the southeast
corner of said Ellesmere Tract and continuing with the south hne of said McCowen
Survey and with the south line of said Ellesmere Tract, 3,876 76 feet, to the POINT OF
BEGINNING and containing some 2,144 acres of land, more or less,
SAVE AND EXCEPT the following described real property
BEGINNING at the intersection of a line 55 feet westerly of and parallel with the
centerline of Old Denton Road, rts proposed westerly right-of way with the northerly
line of that certain tract of land described by deed to L. W Lobb as recorded in Deed
Volume 2221 Page 413 Deed Records of Tarrant County Texas,
THENCE westerly with the north line of said Lobb Tract, 960 feet, to the northeast
corner of Tract 2 of those tracts of land described by deed to Hillwood/2500 LTD
recorded in Volume 9409 Page 1403 of the Deed Records Tarrant County Texas, and
being the northwest corner of said Lobb Tract;
THENCE southerly with the line common to said Lobb and Hillwood Tracts, 1775 feet,
to the northwest corner of that certain tract of land described by deed to Lowell Hughes
recorded in Volume 4389 Page 780 of the Deed Records of Tarrant County Texas,
THENCE easterly with the most northerly line of said Hughes Tract, 533 feet to an ell
corner of said Tract;
THENCE southerly with the most north west line of said Hughes Tract, 180 feet, to an ell
corner
THENCE easterly with the most south north line of said Hughes Tract, 410 feet, to its
intersection with said line 55 feet westerly of and parallel with said centerline, being said
proposed westerly raght-of way and being at the north right-of way of North Tarrant
Parkway
THENCE with said line 55 feet westerly of and parallel with said centerline, being said
proposed westerly raght-of way northerly 1,955 feet to the POINT OF BEGINNING
and containing some 41 acres of land, more or less,
Leaving a NET ACERAGE of some 2 103 acres of land, more or less
`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 and interests implied or established by the creation or reconfiguration
of the boundary of the political subdivision for which rt was prepared.
This description prepared by Hans Kevin Hansen, RPLS # 4786 m electronic format in
September 2008 being a revision of the TIF Distract # 7 description, calls for
monumentation being contained therein, bearangs and distances from said descraption, or
from or calculated from cited instruments.
Tax Increment Reinvestment Zone Number Seven North Tarrant Parkway TIF
GOLDEN TRIANGLE
~/ ~-
GOLDEN HEIGHTS ~/~~
w
m ~~N-TFR JOSH
N
~~ ~t'i'k
'~'~ GOLDEN TR
BONDS RANCH L--~_ ~~.A
~~~~ ~OS
PRESTIGE Q ~
MAC~Y =
VINTAGE C7
1
ALDERSYDE ~ ~
~~~ 'u.i
a
tDEN D-~XMORE ~~
z
0
Q
~~~~
--
,.
y~vTF ~ m ~-1~.
D <~~
,~
~
~
Qom`'-N~ rnL ,
O
~~~! '
I
~y~ ~QGAIL GROV
~'S~ ~~ ~
m
E P t
RESlp1p 1S7,q
m
~ ~_ _. :D~
~~~ ~
x
~ a OLIVE HILL`
-. p1
~~
~
f
~ -
- ;
3479
-~g
O
z
,?
~~ 1
w '' ? ~
~ Q_
~~ .
° ~U
-,~
,~
THO
Z ~~
~ ~ D'
A
~~~~
~ -
I
SUMMERFIELDS
-'-----
City of Fort Worth, Texas
Mayor and Council Communication
RECOMMENDATION
It is recommended that the City Council
1 Hold a public hearing to expand the boundary of Tax Increment Reinvestment Zone Number Seven City
of Fort Worth Texas and
2 Adopt the attached Ordinance which expands the boundary of Tax Increment Reinvestment Zone
Number Seven City of Fort Worth Texas pursuant to Tax Increment Financing Act, Texas Tax Code
Chapter 311 and contains specific findings of fact in support thereof
DISCUSSION
On December 9 2003 City Council adopted Ordinance No 15774 designating the North Tarrant Parkway
TIF The TIF Board realized that the area lacked infrastructure and methods of ingress and egress and
attempts at private development in the area had not been successful As a result, the City Council approved
the Project and Financing Plans on October 25 2005 (M&C G-14973) which allows for regional
infrastructure improvements
The current boundary bisects portions of Harmon Road on the west and Old Denton Road on the east. The
proposed expansion will include all portions of those roads adjacent to the TIF north of North Tarrant
Parkway so that public improvements can be made to those roadways In addition the northwestern
boundary bisects a proposed subdivision that was platted after the North Tarrant Parkway TIF was first
designated The proposed expansion will include adjacent open land so that improvements in the area can
be made in a more orderly manner and so that tax increment calculations for the North Tarrant Parkway TIF
will be accurate
This public hearing is required by the Texas Tax Code Chapter 311 (the Code) Notice of this hearing was.
(1) delivered to the governing body of each taxing unit that levies real property taxes on property located
within the proposed TIF and (2) published in a newspaper of general circulation at least seven days prior to
the hearing
The property described and depicted in Exhibit A of the attached Ordinance meets the criteria for inclusion
into a reinvestment zone pursuant to the Code because among other things the reasons contained in the
findings of fact set forth in the attached Ordinance the area is primarily open and due to a lack of basic
infrastructure that prevents development from occurring in the area solely through private investment in the
reasonably foreseeable future substantially impairs and arrests the sound growth of the City
The property is located in COUNCIL DISTRICT 2 4 and 7
Logname• 17NTP TIF 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 Tom Higgins (6140)
Originating Department Head Jay Chapa (6192)
Additional Information Contact: Shallah Hatch (2235)
Logname• 17NTP TIF
Page 2 of 2