HomeMy WebLinkAboutOrdinance 17461-03-2007ORDINANCE NO 1746.1-03-2007
AN ORDINANCE RENEWING AND RE DESIGNATING A
CERTAIN AREA IN THE CITY OF FORT WORTH AS
`NEIGHBORHOOD EMPOWERMENT REINVESTMENT ZONE NO
2, 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 Council s adoption on April 22, 2003 of
Resolution No 2938 (M&C C 19551) and amended on May 27 2003 by M&C G
13984 the City of Fort Worth, Texas (the `City") has elected to be eligible to
participate in tax abatement and has established guidelines and criteria governing tax
abatement agreements entered into between the Crty and various Hurd parties, as
authorized by and in accordance with the Property Redevelopment and Tax Abatement
Act, codified in Chapter 312 of the Texas Tax Code (the `Code") and
WHEREAS the Crty Council desires to promote the development of the area m
the Crty more specifically described m Exhibit A of this Ordinance (the `Zone")
through the creation of reinvestment zone for purposes of granting residential and
commercial industrial tax abatement, as authorized by and m accordance with Chapter
312 of the Code; and
WHEREAS on April 2, 2002, the Crty Council designated the Ridglea
Village/Como Area as a Neighborhood Empowerment Zone by Resolution Number
2823 (M&C G-13580) to promote (1) the creation or rehabilitation of affordable
housing m the zone, or (2) an increase in economic development m the zone, or (3) an
increase in the quality of social services, education or public safety provided to the
residents of the zone; and
WHEREAS on April 2, 2002, the City Council designated the Ridglea
Village/Como Area as Neighborhood Empowerment Reinvestment Zone No 2 by
Ordinance Number 15061 (M&C G-13580) and
WHEREAS, in accordance with Chapter 312.203 of the Code, the designation of
a reinvestment zone for residential or commercial mdustnal tax abatement expires five
years after the date of the designation, and
WHEREAS Chapter 312.203 of the Code allows for a reinvestment zone to be
renewed for a period not to exceed five years, and
WHEREAS the Zone shall to expire on Apnl 2, 2007 and the City Council
wishes to renew the Zone for a penod of five years, and
WHEREAS on March 27 2007 the City Council held a public heanng
regarding the renewal of the Zone ("Public Heanng"), and
WHEREAS, notice of the Public Heanng was published in a newspaper of
general circulation m the City on March 16 2007 and
WHEREAS notice of the Public Hearing was delivered m wntmg not later than
the seventh day before the date of the public heanng to the presiding officer of the
govermng body of each taxing umt that includes in its boundaries real property that is to
be included in the proposed Zone, and
WHEREAS, the Neighborhood Empowerment Zone No 2 will promote the
creation of affordable housing in the zone and an increase in economic development in
the Zone.
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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 Hearing and affording a reasonable opportunity
for all interested persons to speak and present evidence for or against the creation of the
Zone, the City Council hereby makes the following findings of fact:
1.1. The statements and facts set forth 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 renewal of a reinvestment zone under Chapter 312
of the Code, and
1.2. That the boundaries of the reinvestment zone shall be the boundaries as
described m Exhibit A which is attached hereto and made a part hereof;
1.3. The Zone meets the criteria for the designation of a reinvestment zone as set forth
m Section 312.202 of the Code, as amended, 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 mayor investment m the zone that would be a
benefit to the property and that would contribute to the economic development
of the municipality
1.4 Future improvements m the Zone will benefit the land included m the Zone as
well as the City for a period m excess of ten (10) years, which is the statutory
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maximum term of any tax abatement agreement entered into under the Chapter
312 of the Code.
Section 2.
RENEWAL AND RE DESIGNATION OF ZONE.
That the Crty Council hereby renews and re-designates the Zone described m 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 residential and
commercial industrial tax abatement, as authorized by and m accordance with Chapter
312 of the Code The Zone shall continue to be known as `Neighborhood
Empowerment Reinvestment Zone No 2, Crty of Fort Worth, Texas" The area within
the Zone is eligible for residential and commercial industrial tax abatement pursuant to
Resolution No 2938 and M&C G-13984 as amended.
Section 3
TERM OF ZONE.
That the Zone shall be renewed upon April 2, 2007 and expire five (5) years
thereafter The Zone may be 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 mvahd, inoperative or void for any reason by a court of competent~urisdiction,
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the remaining portions, sections or parts of sections of this Ordinance shall be and
remain in full force and effect and shall not m any way be impaired or affected by such
decision, opimon or~udgment.
Section 5
That this Ordinance shall take effect upon rts adoption.
AND IT IS SO ORDAINED
ADOPTED AND EFFECTIVE March 27.2007
APPROVED AS TO FORM AND LEGALITY
B
Y
L D Guzman
Assistant City Attorney
Date ~~
M&C G 15654
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Page 1 of 2
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION Approved on 3/27/2007 Ord No 17461-03-2007
DATE Tuesday March 27 2007
LOG NAME 05RIDGLEANERZ
REFERENCE NO G-15654
SUBJECT
Adopt Ordinance Concerning Renewal of the Ridglea Village/Como Neighborhood Empowerment
Reinvestment Zone No 2
RECOMMENDATION
It is recommended that the City Council
1 Hold a public hearing concerning the renewal of the Ridglea Village/Como area as Fort Worth
Neighborhood Empowerment Reinvestment Zone (FWNERZ) No 2 and
2. Adopt the attached ordinance which designates the renewal of FWNERZ No 2 pursuant to the Texas
Property Redevelopment and Tax Abatement Act, Tax Code Chapter 312
DISCUSSION
On April 2 2002, (M&C G-13580) the City Council adopted Resolution No 2823 to designate the Ridglea
Village/Como area as a Neighborhood Empowerment Zone and adopted Ordinance No 15061 which
designated FWNERZ No 2.
According to the Texas Property Redevelopment and Tax Abatement Act, Tax Code Chapter 312, the
designation of a reinvestment zone for residential or commercial-industrial tax abatement expires five years
after the date of the designation and may be renewed for periods not to exceed five years.
The current ordinance designating FWNERZ No 2 expires on April 2, 2007 and must be renewed in order
for the City of Fort Worth to be eligible to participate in the NEZ tax abatement authorized by Chapter 312.
According to State Law in order to adopt the attached ordinance for renewal five members of the City
Council must vote in favor of adoption
The FWNERZ No 2 and the Ridglea Village/Como Neighborhood NEZ are located in COUNCIL DISTRICT
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FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that this action will have no material effect on City funds.
http.//www cfwnet.org/council~acketlReports/mc~nnt.asp 3/29/2007
Page 2 of 2
TO Fund/Account/Centers
FROM Fund/Account/Centers
Submitted for City Manager's Office by. Dale Fisseler (6140)
Originating Department Head. Jerome Walker (7537)
Additional Information Contact: Sarah Odle (7316)
http.//www cfwnet.org/council~acket/Reports/mc~nnt.asp 3/29/2007