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HomeMy WebLinkAboutOrdinance 17127-08-2006ORDINANCE NO 17127-08-2006 AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE CITY OF FORT WORTH AS `TAX ABATEMENT REINVESTMENT ZONE NUMBER FIFTY-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 Crty Councils adoption on June 13 2006 of Resolution No 3363-06-20062 (M&C G-15213) (the `Tax Abatement Policy"), the Crty of Fort Worth, Texas (the `City") has elected to be eligible to participate m tax abatement and has established guidelines and criteria governing tax abatement agreements entered into between the Crty and various third 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 City Council desires to promote the development of the area m the City more specifically described m Exhibit A of this Ordinance (the `Zone") through the creation of a reinvestment zone for purposes of granting a residential tax abatement, as authorized by and in accordance with Chapter 312 of the Code, and WHEREAS, Lancaster Avenue, Ltd. ("Company"), a Texas limited partnership, owns or is under contract to purchase real property in the Zone and has applied for a real property tax abatement from the City in return for the redevelopment of retail and commercial improvements on that property ("Improvements") and compliance with certain other commitments that will foster economic development m the Zone and the City in general, and Page 1 Ordinance Designating T Abatement Reinvestment Zone Number Fifty-Six, City of Fort Worth, T WHEREAS, on August 29 2006 the City 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 WHEREAS, notice of the Public Hearing was published m a newspaper of general circulation m the City on August 18 2006, 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 heanng; and WHEREAS, in accordance with Sections 312.201(d)(2) and (e), notice of the Public Hearing was delivered in wasting not later than the seventh day before the date of the public heanng to the presiding officer of the governing body of each taxing unit that includes in its boundaries real property that is to be included in 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 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: Page 2 Ordinance Designating T Abatement Reinvestment Zone Number Fifty-Six, City of Fort Worth, T 1 1 The statements and facts set forth in the recitals of this Ordinance are true and correct. Therefore, the Crty has met the notice and procedural requirements established by the Code for creation of a reinvestment zone under Chapter 312 of the Code. 1.2. The property compnsmg the Zone contains blighted and detenoratmg commercial improvements. In its current state, the property substantially impairs the sound growth of the City and constitutes an economic liability because of the presence of detenoratmg structures and unsafe conditions. 1.3. 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 in 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 m the Public Heanng and which will be made pursuant to a tax abatement agreement with Company that must subsequently be approved by the Crty Council, include the substantial renovation of currently blighted and detenoratmg commercial improvements m the Zone. The Improvements are feasible and practical and, once completed, will benefit the land included in 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 3 Ordinance Designating T Abatement Reinvestment Zone Number Fifty-Six, City of Fort Worth, T Section 2. DESIGNATION OF ZONE. That the City Council hereby 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 a residential tax abatement, as authorized by and in accordance with Chapter 312 of the Code. This Zone shall be known as `Tax Abatement Reinvestment Zone Number Fifty-Six, City of Fort Worth, Texas. This project is eligible for commercial/industrial tax abatement pursuant to Section 4 1 of the Tax Abatement 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 jurisdiction, the remaining portions, sections or parts of sections ofthis 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~udgment. Page 4 Ordinance Designating T Abatement Reinvestment Zone Number Fifty-Six, City of Fort Worth, T Section 5. IMMEDIATE EFFECT That this Ordinance shall take effect upon rts adoption. AND IT IS SO ORDAINED ADOPTED AND EFFECTIVE August 29, 2006 APPROVED AS TO FORM AND LEGALITIT By Peter Vaky Assistant City Attorney M&C• G-15376 Page 5 Ordinance Designating T Abatement Reinvestment Zone Number Fifty-Six, City of Fort Worth, T Tax Abatement Reinvestment ,Zone # 56 ti MEADOWBROOK N tn MORRIS O ~, Z z J ~ Y a ~ ~ ~ KENWOOD w o z = AMT VERN ON ~ ~ 56 L ANCASTER LANCASTER w z VIRGINIA J ~ D PANOL A ~ Q PANOLA J Y ~, Q ~ O z w ~ VINSON ~ Q ~ p t/1 W ~ HAMPSHIRE ~ ~ ~ ~ m ~ ~ ~ _ N City of Fort Worth Texas Economic & Commnunity Development Copyright ©2006 EXHIBIT A BOUNDARY DESCRIPTION AND MAP OF ZONE a:J~~xag twtx x:r~r~~ o:~ 1~.sd! ti the ~`" ~.> ~V~~ xv~X Abi~t~,c~ ~~ 122 irl,ty' a t="c'f, t ~`car.~;1~ ~'"rir.•~•rfr.r. 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"~1+TC St~uth ~ c:~g:.:er 9~ mi~~.,t:~ ~ ~ >~~a~d ~~+~~~ ~~.~~ trace tit>rtlx la.:ne ~ paid. ~aat~s a +~:~~~.~:u1C;~ t~1' ~ a L~ ~~ ~b ~~ tt~ ~~"~rNrr~: mad. ~car~tacn~ssc 0 897 ~~ ars at«e ~~ 1 ~ncl ~x~1~T'[~P1'1° ~a~m~tat ~stat~: cr~atec~ ;p~x~aud~~ ~~ t~krc isc~.pr~ra.&. ~~~exat r~~?-r ~ +~xAr. raza_n~ betvr~~n '~:ze C~altlrxxi Sta~,i C~ . , i ~`~t~~~r~}~ Ltd ~ texas ~itec r ;-~rtzs~.:~.i~ and G~'xs3~•r~ ~~trt tat~~ C3~ci~1~.~ty`w ~ lrs~ t~2~~~/1~95 ~ec~rxdeci ;art ?.;>~u>i'~a 8088 1P~ga 52 19~ar~ :~~Cbd~ ~"~~,ratx~ C'c~unt:;~ 'rc;~;t: Ordinance Designating T Abatement Reinvestment Zone Number Fifty-Six, City of Fort Worth, T ¢~yi y~GY+~3s '3{r~'3ty~:C~. ~'ik~'C4,4rr~'p~a Wy~'iypMy.~4i y~~i:x ~#14p WL/'~'i~~~~~'r Mk~1~.3JyFyiyry~{}. y3,4~tijnEM! yV~~y~~e~'7}+~V~e$pw~F,J Ays ~{kyiyTp'~"e mix Reyly~'~&r4~r~~.R.'.rlw~M'a~'~Y ,E~yj#/..»y T~~m ice. ,N lu ~.•..(~ ('il ..? ~.F~-~~'M'~4 W+w. ~'T .C? w. yy 1.~~~>.n~lWiA 1T: ~YW y~~F1~L.f ~. t. axi iMy~~+Y. ~:~n Si ~.WpF Wk4T ~W~~~.i IA tJ c:~r~.cic~z~~~d ~}~ 'iz~~t*~'iit't~r7t_ i~.~>:3 r~A,.r~3fw~6s ae~sar'~~-.:~ zt ~to~t~M~ ~~Q~ i~~c:~~ ~~~ „y ~ ,., ~d{e}aCS~ 1~C'L,.a~.~:t~.w.~ CJ~ I':l~'2;itii; {~i)Altl?:ter ai::Yi.lfl ~'i`17~.A,~{'lxit~~+jlt CRt lY"S71IT~~ ~iZ~ilG`!•~ 4f.7 ~'':i, !~~„~'~~rx ~lx~~~y~)yrxe~ Crns~r:~^ cwt~3;~;t~air~~> :,'c« l~i~.ud. rz~ ~ j5~s~~,+~ ~~~cwv:c~~-~ ;i~a ~~c~:i,:~,~ Jai ~~~ 1~'~ ~)~~ri ~t~~-:~,rr~a ~raxz-~rr Coiz~~Gr• ~~cas~ ~~men~ wf Cxatind Lc~t~, ~~~-ifs ~tr~~fr~ ,::rxc L.i~:Le„cz t~~1'11~5~~ zcco~~s~ ~.~t ~'c~~u~e 842 P~~~ ~~ti~ ~~ R~ca~~~ 'T~~'raiit Cour:~v T~:..a~ ,"'~t~~ ~nm=~rC ~~ G~~~tzr~~ ~.+~~~.~c: ~~ ,~arrt~c{i:.t~1~ 1~~.t`~t'1t3~ ~~~ f.e r~c3 <;Z,';; ~/ ~~?,i ~~<-rcas-t~~tX ts~2d~~' ~:~~D'r}~1Gt+:iF~'?i;s ~1<-~*r3 :~~:>ccsx~~~. i~i~'2~Xi~ ~`Ci:.:'~~.~~ I"r_~X~`, ~3'.,j 2:rt I1~~ ? 17,x'.' f:t'~1Ts~ 1"t3~"]p~' ~°~^t~x° :rtr7 3~'T:C7~~~ ~, #Cal~.r;'~ ~~GT~.''~1~7' a it a a~rsz..7. :~~, ire a~t~~h~lt g~remn~ .~~.;~ ~~t:i~, b~iric~ ~,;~ ~,~~ x~g~ o ~+a~ ~;'w} ~F G~kland ~. ~ at ~s~~t ;~~~2 ia~~r~ ~'a~~~ ~ deg~~es .~ mxt~ut~r {? ~c~:~z~tls 1,'e~t G Ca~l~.il~ ~~~:~ # Mv-t3 :.~~~~ >:t.t:2-s~:>~"~'"~,€3~ a~ ~;hr: ~;a~r~ 3s~it ,~w ~72c~~ r~~~ N~~~h ~,lw ~,,n~.~let-.<_.~ ~~.r%~i.l T~~ Nctt),'~ t~ec~~~ ts~;.azu~ ~~ ~~:1Wc~i,~i~ ~,~.. ~t• ~ 11 t.~.c: .~ jib' ~ O~ :~ ar::i t1.,~'a~. ~ ~8~~.t7~ ~~~t t:~c~ ~ ~~~ d.n~~. i~;.,r. c;jr ~?~~:~ ~~ ~}~~ ~r~u~'.~s~ cc>~.~t~°. z;. ~,~ ~spZ11" Cf'''t~~j.2,''~ ~;i~C2~ L7~ lesYtC~ C;C~2"~t"'}'C~ t :, .3 ': ;•: ~ SJW~3= LZ~ ~~ ~1~ t~:Cf~. ~e~t~~t~.eci .?.X1 t~z?,1?.iT~~~- 4~.~.~' F',l€~c!, f a .* ,. i w`~~'~.I; ''~x.2'~i. ptl,t`T~v' ~_. :C" Gta 'i"c } °~E1tiCE s'X'a*.1t~: 89 t3e;~~~es '3t~ ~k:ar'<uC,~:Ea r~~ 4~.~>uc~t,t:I:s r:.,~t;; ~~~trt~. the ~~aukx ? zzr c°s :~,i< :.=c3tJCirr ~c-- :13~-d7tt~~1C1{? ~~~~` ~4 1 X" t1L1t SIX C~$~~`7C'~~C' ~~ ~~ ~~ ~ ~ e~ ~i"rit.s: ~ta~~ttr ~a~~ }~t;..rcJ t.t:t~ ~aoittl~e:zt,t cr~rn~z £ sai., S>3~+e-r~ ~r°~~~ mad ~ ~?or~~<u~~~: C.t'i~"gtr>;t~ LyL ~~ t:"7'."1~'~ t)f` 3i:*Jti ,.d',w~CJ; ~~ ~~ ~ ~ ;t'~ i;t:i`C~ ~„'<:~~~ ~tz ~~(~7~t~i~'.L: ",~~~`~ t;xt ~ dgzt~~~ tat tnai~?.~~.~ ~I fnt~*~ azc;;; s~~h t~~ ~G I~;ra~ zs'~ ~~~~d «i.t~~ '~~`~#4"~ ~7z"iS-~.lk~' ~2r1.~', ~s2 Q;'~.. {} L;:~~ K7 +. f ~ ~"fi C;' ~. ~'~il ~~.~'1 ~ d~.. ~Y.:at' Ivy".. tt.W«...°', Cp't~nrx t> ~ht~ iarrxr*~~ c~~€~ct-9b~ci 'i'~°~~t and ,,~?txi`~?,r~~t Gn~xsr~ of ~ti_~' Is;fbr ~r<<r_r. t;a7rYS:;.zls3l~~ w;;,ttt iAr~• ~J~W.s'.: ~ fir. :~~ ;.i 'C').~~~t t;~ ~z.i l '~~; I1.ftp #rr>~ ~~ r~ rt~ili '(`_t: :k.Y~ :~£I~11Gt.:,.~ ~7~V~'fi%rlt: "z t: 5;1'iµ ar)«,3~~'S«_~i:.1:, t'C~CSx: ''3~~„ j~j«i:Lt~ `I''"+~~'- 1. ~kt~~ 2~It;+fl:)F?i~f1t '~"~nC~: d~~s~r~x.y tie ~~e~t _r~~ ~~ ~c~.d `~'wact 3 ~~d ~~:it.~r ~t~>~ ~To~:t'i ~~n sad ;~d '1'~~Ct ~ ?~t>r'~~~ E7a C'~~c{x°c:c~wx 5 ~t~~,uC~t p si~c:q~su W~~ ~.~.~ ^7 fi'"_~i~ ~c±~."t' :"•<:~ ~~ ~?~tiG~ ~~ }~«~^t~irr~i.t1 ~`C~71~~s`)~i.r~+~ 'i.'i ~~ ;~~tii4~ (7 '3%f :<C"c`<.: r3~ Inc: Ordinance Designating T Abatement Reinvestment Zone Number Fifty-Six, City of Fort Worth, T TAX ABATEMENT REINVESTMENT ZONE NUMBER FIFTY-SIX, CITY OF FORT WORTH, TEXAS P~:_r~~° ~wz~ ~rac~e c~~ 2.~tc~ it. ~k"<c u' t. 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Nr~x~th ~ d~c~r~cF 5jr m.irz,~+~c ~ ~~rs;~~ Sdt,~t: 1~~ ~2,f1~p ~c~ ~~ ~.t3~+ ~:tcc~ ~f lac-c) i sii'~.~.~t G~~7~a ~ 1~i,rr~~ i ~, ~~ A ~*~ at~~-F> t7~ d At the public hearing, interested persons will be entitled to speak about or present evidence for or against designation of such property as a tax abatement reinvestment zone Following closure of the public heanng, the Crty Council will consider the adoption of an ordinance that designates the above described property as Tax Abatement Reinvestment Zone Number Fifty-six, City of Fort Worth, Texas. For additional information, contact the City's Economic and Community Development Department by telephone at 817 392-6103 or m wntmg at 1000 Throckmorton Street, Fort Worth, Texas 76102 Page 3 of 3 City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION Approved on 8/29/2006 Ordinance No 17127-08-2006 FlII DATE Tuesday August 29 2006 LOG NAME 170AKSHTAPH REFERENCE NO G 15376 1 Conduct public hearing to take comments on designating Tax Abatement Reinvestment Zone No 56 City of Fort Worth Texas and 2. Adopt the attached ordinance that designates Tax Abatement Reinvestment Zone No 56 City of Fort Worth Texas pursuant to and in accordance with Chapter 312 of the Texas Tax Code DISCUSSION The proposed Tax Abatement Reinvestment Zone No 56 City of Fort Worth Texas (Zone) is in east Fort Worth at approximately the north east corner of Oakland Boulevard and East Lancaster Avenue The exact boundaries of the proposed zone are described in Exhibit A of the attached ordinance Lancaster Avenue Ltd will renovate an existing 48 000 square foot shopping center and will construct new commercial use on the site of a Grandy's destroyed by fire in 2002. It is anticipated that the $1 500 000 investment would result in bringing jobs to the area filling the vacant commercial space and upgrading the tenant mix as well as the appearance of the retail center 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 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 Further 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 The Zone is located in COUNCIL DISTRICT 8 and in the Oakland Corners Urban Village Logname 170AKSHTAPH Page 1 of 2 FISCAL INFORMATION/CERTIFICATION The Finance Director certifies that this action will have no material effect on City funds. TO Fund/Account/Centers FROM Fund/AccountlCenters Submitted for City Manager's Office b~ Dale Fisseler (6140) Originating Department Head Tom Higgins (6192) Additional Information Contact: Christine Maguire (8187) Logname 17OAKSHTAPH Page 2 of 2