HomeMy WebLinkAboutOrdinance 16633-10-2005Ordinance No. /~(~ ~3'3 /0--~p5`
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE CRITICAL CAPITAL PROJECTS FUND IN THE
AMOUNT OF $157,000 FROM AVAILABLE FUNDS FOR THE PURPOSE OF
FUNDING THE PURCHASE OF REVERSIONARY INTERESTS OWNED BY
HEIRS OF SARAH JENNINGS FOR PROPERTY LOCATED AT THE
INTERSECTION OF NINTH AND THROCKMORTON STREETS; MAKING THIS
ORDINANCE CUMULATIVE OF PRIOR ORDINANCES IN CONFLICT
HEREWITH; AND PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS
SECTION 1
That in addition to those amounts allocated to the various -City departments for Fiscal Year 2005-
2006 and in the Budget of the City Manager there shall also be increased estimated receipts and
appropriations in the Critical Capital Projects Fund in the amount of $157 000 from available funds
for the purpose of funding the purchase of reversionary interests owned by heirs of Sarah
Jennings for property located at the intersection of ninth and Throckmorton streets
SECTION 2.
That should any portion, section or part of a section of this ordinance be declared invalid,
inoperative or void for any reason by a court of competent jurisdiction, such decision, opinion or
judgment shall in no way impair the remaining portions, sections, or parts of sections of this
ordinance, which said remaining provisions shall be and remain in full force and effect.
SECTION 3
That this ordinance shall be cumulative of Ordinance No 16582 and all other ordinances and
appropriations amending the same except in those instances where the provisions of this ordinance
are in direct conflict with such other ordinances and appropriations, in which instance said
conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed
SECTION 4
This ordinance shall take effect upon adoption
APPROVED TO FORM AND LEGALITY
Assi ant City Attorney
ADOPTED AND EFFECTIVE. ~ ('.~~~-kt' ~ (~Q(~.~
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION Approved on 10!4/2005 Ordinance No. 16633-10-2005
DATE Tuesday October 04 2005
LOG NAME 22REVERTER REFERENCE NO L 14136
SUBJECT
Authorize Purchase of Reversionary Interests Owned by Heirs of Sarah Jennings for Property
t_ocated at Intersection of Ninth and Throckmorton Streets Accept Funding from Fort Worth
Transportation Authority to Purchase Reversionary Interests
RECOMMENDATION
It is recommended that the City Council
1 Authorize the purchase of reversionary interests owned by heirs of Sarah Jennings for property located
at the intersection of Ninth and Throckmorton Streets
2 Accept $157 000 from the Fort Worth Transportation Authority (the T) to purchase the reversionary
interests and
3. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Critical Capital Projects Fund by $157 000 from available funds
D{SCUSSION
In 1873 Sarah~Gray Jennings dedicated Hyde Park to the City of Fort Worth stipulating that the property be
used as a public square In 1882 Ms Jennings entered into an agreement with the Fort Worth Library
Association that a library could be constructed on a portion of the park (the Library footprint) The
agreement contained a reverter clause that stipulated the Library Association could use the Library footprint
so long as the City used the building erected thereon for library purposes The Library Association erected
a building and the City took over maintenance and operation of the library In 1978 the heirs of Sarah Gray
Jennings alleged that the City stopped using the property as a library and filed suit alleging the Library
footprint had reverted back to the heirs because the Library footprint was no longer being used as a
library The court agreed with the heirs and the Library footprint reverted back to the heirs
Since August 1999 the City of Fort Worth the T the U S General Services Administration and Downtown
Fort Worth Inc. have led an effort to re-establish Hyde Park as atransit-oriented public space similar in
function to the original Hyde Park public square On December 21 2004 (M&C G-14621) the City Council
approved declaring the necessity of taking the contingent reversionary interest owned by the heirs of Sarah
Jennings and authorized the City Attorney to institute condemnation proceedings to acquire the
reversionary interests
City staff hired a consultant in April 2005 to research all potential heirs to the reversionary interests The
consultant determined that there are 14 Jennings family heirs Two of the 14 heirs donated their shares of
the reversionary interest to the City earlier this year (M&C L 14049) which enabled them to seek tax
deductions Reversionary interest from the remaining heirs will be obtained through compensation
donation or condemnation This M&C authorizes the City to purchase reversionary interests directly from
the heirs City staff expects that all heirs will accept payment or donate their interests and that
Logname 22REVERTER Page 1 of 2
condemnation will not be necessary
An independent appraisal of the reverter established just compensation at $157 000 Heirs will be
compensated with grant funds that have been allocated to the Hyde Park Transit Plaza project for
acquisition costs. The reverter interest and other acquisition costs associated with Hyde Park Transit Plaza
are included in the T's FY 2006 Capital Budget. Eighty percent of the acquisition costs are covered in
federal Congestion Mitigation and Air Quality (CMAQ) funding administered by the Federal Transit
Administration (FTA) and the remaining local match is shared equally between the City and the T The T is
the recipient of these federal CMAQ funds This M&C authorizes acceptance of funds from the T for the
purpose of compensating the Jennings heirs
This project is located in COUNCIL DISTRICT 9
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that upon adoption of the attached appropriation ordinance funds will be
available in the current Capital budget, as appropriated of the Critical Capital Projects Fund
TO Fund/Account/Centers FROM Fund/Account/Centers
C116 488100 022116021221 $157,000.00
C116 539120 022116021221 $157,000.00
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Submitted for CitX Manager's Office bv: Libby Watson (6199)
Originating Department Head. Fernando Costa (8042)
Additional Information Contact: Becky Pils (7645)
Logname 22REVERTER Page 2 of 2