HomeMy WebLinkAboutOrdinance 21968-11-2015 ORDINANCE NO. 21968-11-2015
AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE
CITY OF FORT WORTH AS "TAX ABATEMENT
REINVESTMENT ZONE NUMBER NINETY-ONE, 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 May 20, 2014 of
Resolution No. 4322-05-2014 (the "Tax Abatement Policy"), 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 City 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 in
the City more specifically described in Exhibit "A" of this Ordinance (the "Zone")
through the creation of a reinvestment zone for purposes of granting a business expansion
tax abatement, as authorized by and in accordance with Chapter 312 of the Code; and
WHEREAS, American Airlines, Inc. ("Company") wishes to expend or cause to
be expended at least $200 million in real property improvements for the construction of a
new corporate headquarters facility to be located in the Zone, and Company intends to
install new taxable tangible business personal property in the facility that ultimately will
result in a combined real and personal property investment of at least $350 million
(collectively, the "Improvements"); and
Ordinance Designating Tax Abatement Reinvestment Zone Number Ninety-one, Ordinance No.21968-11-2015
City of Fort Worth,Texas Page i of 8
WHEREAS, Company has applied for real and business personal property tax
abatements from the City in return for the installation of the Improvements in the Zone
and compliance with certain other employment and spending commitments that will
foster economic development in the Zone and the City in general; and
WHEREAS, on November 10, 2015 the City Council held a public hearing
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 in a newspaper of
general circulation in the City on November 3, 2015, 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, in accordance with Sections 312.201(d)(2) and (e), of the Code
notice of the Public Hearing 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 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:
Ordinance Designating Tax Abatement Reinvestment Zone Number Ninety-one, Ordinance No.21968-11-2015
City of Fort Worth,Texas Page 2 of 8
Section 1.
FINDINGS.
That after reviewing all information before it 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 in 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.
1.2. The Improvements proposed for the Zone, as more specifically outlined in the
Public Hearing, are feasible and practical and, once completed will benefit the
land included in the Zone as well as the City for a period in 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.
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 primary employment and to
attract major investment in the Zone that will be a benefit to property in the Zone
and will contribute to the economic development of the City.
Ordinance Designating Tax Abatement Reinvestment Zone Number Ninety-one, Ordinance No.21968-11-2015
City of Fort Worth,Texas Page 3 of 8
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 business expansion 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 Ninety-one, City of Fort
Worth, Texas." This project is eligible for commercial/industrial tax abatement pursuant
to Section 4.3 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 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 invalid, inoperative or void for any reason by a court of competent jurisdiction,
the remaining portions, sections or parts of sections of this Ordinance shall be and remain
in full force and effect and shall not in any way be impaired or affected by such decision,
opinion or judgment.
Ordinance Designating Tax Abatement Reinvestment Zone Number Ninety-one, Ordinance No.21968-11-2015
City of Fort Worth,Texas Page 4 of 8
Section 5.
IMMEDIATE EFFECT.
That this Ordinance shall take effect upon its adoption.
ADOPTED AND EFFECTIVE: November 10, 2015
APPROVED AS TO FORM AND LEGALITY:
rv:
Peter t y e Deputy City Attorn�6 Y City See fa
Y
M&C:G-18605
Ordinance Designating Tax Abatement Reinvestment Zone Number Ninety-one, Ordinance No.21968-11-2015
City of Fort Worth,Texas Page 5 of 8
EXHIBIT "A"
BOUNDARY DESCRIPTION OF ZONE
BEING a 97.701 acre tract of land situated in the William G. Matthews Survey, Abstract
Number 1052 and the V. J. Hutton Survey, Abstract Number 681, Tarrant County, Texas, in the
City of Fort Worth, being a portion of the tract of land described in the deed to Dallas-Fort
Worth Regional Airport Board recorded in Volume 6710, Page 520, Deed Records of Tarrant
County, Texas and being all of the tract of land described as the North Tract in the deed to
Dallas-Fort Worth Regional Airport Board recorded in Volume 6653, Page 856, Deed Records
of Tarrant County, Texas, also being a portion of Lot 1, Block 3 and all of Lot 1, Block 2,
American Airlines Addition according to the plat recorded in Volume 388-133, Page 60, Plat
Records of Tarrant County, Texas, and being a portion of the tract of land described as Plot B in
the deed to the City of Fort Worth recorded in Volume 5072, Page 417, Deed Records of Tarrant
County, Texas, said 97.701 acre tract of land being more particularly described as follows:
BEGINNING at a 5/8 inch iron rod found in the westerly right-of-way line of State Highway 360
(a variable width right-of-way) for the northeasterly corner of said North Tract and of said Lot 1,
Block 2, American Airlines Addition;
THENCE with the westerly right-of-way line of State Highway 360 the following:
South 00° 55' 57"East (Volume 6653, Page 856 & Volume 388-133, Page 60 = South
00°23' 38"East) a distance of 87.75 feet to a 5/8 inch iron rod found for corner;
South 34° 12' 56" West (Volume 6653, Page 856 & Volume 388-133, Page 60 = South
34°45' 15" West) a distance of 60.96 feet to a point;
South 00°47' 18"East (Volume 6653, Page 856 &Volume 388-133, Page 60 = South
00° 14' 57"East) a distance of 149.86 feet to a 5/8 inch iron rod found for corner;
South 14'45' 52"East (Volume 6653, Page 856 & Volume 388-133, Page 60 = South
14° 13' 33"East) a distance of 103.15 feet to a 5/8 inch iron rod found for corner;
South 00'44' 21"East (Volume 6653, Page 856 &Volume 388-133, Page 60 = South
00° 12' 02"East) a distance of 99.93 feet to a 5/8 inch iron rod found for corner;
South 15° 53' 36" West (Volume 6653, Page 856 &Volume 388-133, Page 60 = South
160 25' 55" West) a distance of 104.32 feet to a 5/8 inch iron rod found for corner;
South 02° 32' 25" West(Volume 6653, Page 856 &Volume 388-133, Page 60 = South
03° 04' 44" West) a distance of 601.18 feet to a 3/4 inch iron rod found for corner;
South 01' 06' 26" West (Volume 6653, Page 856 & Volume 388-133, Page 60 = South
01'38' 45" West) a distance of 300.25 feet to a 3.5 inch aluminum monument found for
corner;
South 02° 58' 25" West (Volume 6653, Page 856 &Volume 388-133, Page 60 = South
03°30' 44" West) a distance of 182.88 feet to a 3.5 inch aluminum monument found for
corner;
South 43'26' 04" West (Volume 6653, Page 856 &Volume 388-133, Page 60 = South
43° 58' 23" West) a distance of 73.34 feet to a point in the northerly right-of-way line of
Trinity Boulevard (a variable width right-of-way);
THENCE departing the westerly right-of-way line of State Highway 360 with the northerly
right-of-way line of Trinity Boulevard the following:
South 86° 16' 17" West (Volume 6653, Page 856 &Volume 388-133, Page 60 = South
86'48' 36" West) a distance of 119.82 feet to an aluminum disk stamped"DFW Int
Airport" found for corner;
North 82'00' 32" West (Volume 6653, Page 856 &Volume 388-133, Page 60 =North
8 V 28' 13" West) a distance of 372.43 feet to a point;
South 8744' 01" West (Volume 6653, Page 856 &Volume 388-133, Page 60 = South
88° 16' 20" West) a distance of 102.31 feet to a 5/8 inch iron rod found for corner;
North 84° 05' 43" West(Volume 6654, Page 856 &Volume 388-133, Page 60 =North
83° 35' 57" West) a distance of 243.89 feet to an aluminum disk stamped"DFW Int
Airport" found for the beginning of a non-tangent curve to the right having a radius of
1,372.00 feet;
Northwesterly along said curve through a central angle of 4°21' 00" an arc distance of
104.17 feet with a chord bearing of North 70° 35' 54" West and a chord distance of
104.14 feet to the end of said curve;
North 68°29' 39" West a distance of 146.40 feet to an aluminum disk stamped"DFW Int
Airport"found for the point of curvature of a curve to the left having a radius of 1,428.00
feet;
Southwesterly along said curve through a central angle of 54°27' 23" an arc distance of
1,357.23 feet with a chord bearing of South 840 16' 40" West and a chord distance of
1,306.72 feet to a 5/8 inch iron rod with a cap stamped "KHA" found at the end of said
curve;
South 57°32' 19" West a distance of 61.02 feet to a 5/8 inch iron rod with a cap stamped
"KHA"found for corner;
South 88°44' 41" West a distance of 153.69 feet to a 5/8 inch iron rod with an orange
cap found in the easterly right-of-way line of American Boulevard (a variable width
right-of-way) for the beginning of a non-tangent curve to the right having a radius of
700.00 feet;
THENCE departing the northerly right-of-way line of Trinity Boulevard with the easterly right-
of-way line of American Boulevard the following:
Northwesterly along said curve through a central angle of 22°24' 10" an arc distance of
273.70 feet with a chord bearing of North 11°26' 01" West and a chord distance of
271.96 feet to an aluminum disk stamped "DFW Int Airport" found at the end of said
curve;
North 00° 13' 26" West a distance of 559.39 feet to an aluminum disk stamped "DFW Int
Airport" found for the beginning of a non-tangent curve to the right having a radius of
1,270.00 feet;
Northeasterly along said curve through a central angle of 24° 59' 55" an are distance of
554.11 feet with a chord bearing of North 12° 16' 12"East and a chord distance of 549.73
feet to an aluminum disk stamped"DFW Int Airport" found at the end of said curve;
North 230 59' 25" East a distance of 367.44 feet to a point;
THENCE departing the easterly right-of-way line of American Boulevard North 89° 06' 09" East
at a distance of 1,388.49 feet passing the northwesterly corner of said Lot 1, Block 2, American
Airlines Addition, continuing with the northerly line of said Lot 1, Block 2 in all a total distance
of 1,788.49 feet to a point;
THENCE departing the northerly line of said Lot 1, Block 2 North 00° 53' 51"West a distance
of 100.00 feet to a point;
THENCE North 89° 06' 09"East a distance of 300.00 feet to a point;
THENCE South 00° 53' 31"East a distance of 100.00 feet to a point in the northerly line of said
Lot 1, Block 2;
THENCE with the northerly line of said Lot 1, Block 2 North 89° 06' 09" East a distance of
398.82 feet to the POINT OF BEGINNING;
CONTAINING a computed area of 97.701 acres (4,255,856 square feet) of land.
Ems Y
mF
L
w� L D1
f
r v
N �f
m O
CL
Ln
CL
u ) 1f I,� / "/ �f Q
a �
O
O
E x >
F
rG
O
:3 x
/A p
® O
O I_!® aC:i
UJ
o- M
41 v
I
I
F-
L
°
° h°
a�
o
o C
i C
C
a
o v �
L
o
O O
� �
D -0 _m o u
N./r+✓N Q O
� v
O a�
N
L L
L Q 4-
4 S bn Y
n C
O O
LO v
91, OA O
C C
f
r O N N
0
41 IM
cvi U O
O
r r O L
4--D v LL
fu h
0
O
Q Z >,
U n U
City of Fort worth, Texas
Mayor and Council Communication
COUNCIL ACTION: ;Approved on 11110/2015 - Ordinance No. 21968-11-2015
DATE: Tuesday, November 10, 2015 REFERENCE NO.: G-18605
LOG NAME: 17ED TARIZ91
SUBJECT:
Conduct Public Hearing and Adopt Ordinance Designating Property at Dallas-Fort Worth International
Airport Located Within the City of Fort Worth as Tax Abatement Reinvestment Zone No. 91, City of Fort
Worth, Texas for Construction of a Corporate Headquarters Facility for American Airlines, Inc.(COUNCIL
DISTRICT 5)
RECOMMENDATION:
It is recommended that the City Council:
1. Conduct a public hearing concerning the designation of property at Dallas-Fort Worth International
Airport that is located within the City of Fort Worth as Tax Abatement Reinvestment Zone No. 91, City of
Fort Worth, Texas for construction of a corporate headquarters facility for American Airlines, Inc.; and
2. Adopt the attached ordinance designating Tax Abatement Reinvestment Zone No. 91, 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. 91, City of Fort Worth, Texas (the Zone)
encompasses certain property at Dallas-Fort Worth International Airport that is located entirely within the
City of Fort Worth. American Airlines, Inc. (American) wishes to lease this property for construction and
operation of a new corporate headquarters facility. The proposed project will result in at least $350 million
in real and business personal property investment at the site, with a minimum of $200 million in real
property improvements.
As required by Chapter 312 of the Texas Tax Code, a public hearing must be conducted regarding the
creation of the Zone. The exact boundaries of the proposed Zone are described in Exhibit A of the
attached ordinance. Notice of this hearing was delivered to the governing body of each affected taxing
unit and 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, pursuant to 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. 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.
Logname: 17ED TARIZ91 Page 1 of 2
The proposed Zone is located in COUNCIL DISTRICT 5.
FISCAL INFORMATION / CERTIFICATION:
The Financial Management Services Director certifies that approval of the above recommendation will
have no material effect on the Fiscal Year 2016 budget. Upon approval of this designation, the long term
financial impacts will be included in the financial forecast.
FUND IDENTIFIERS (FIDs):
TO
Fund Department ccoun Project Program ctivity Budget Reference # moun
ID ID Year (Chartfield 2)
FROM
Fund Department Accoun Project Program ctivity Budget Reference # moun
ID ID Year (Chartfield 2)
CERTIFICATIONS:
Submitted for City Manager's Office by: David Cooke (6116)
Originating Department Head: Robert Sturns (212-2663)
Additional Information Contact: Sky Williams (871-6007)
Logname: 17ED TARIZ91 Page 2 of 2