HomeMy WebLinkAboutOrdinance 16683-11-2005ORDINANCE NO ~' Co Sr3r' ~ I a
AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE
CITY OF FORT WORTH AS `TAX ABATEMENT
REINVESTMENT ZONE NUMBER FIFTY THREE, 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 Councils adoption on June 15 2004 of
Resolution No 3092 (M&C G 14362) (the `Tax Abatement Policy"), the City 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 City and various third parties, as authorized by and m 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
commercial/industrial tax abatement, as authorized by and m accordance with Chapter
312 of the Code, and
WHEREAS, Allied Electronics, Inc ("Company") owns or is under contract to
purchase to real property located m the Zone on which Company will construct
improvements for the purpose of operating an electronics distribution facility and
supporting office space (collectively `Improvements") and has applied for a real and
personal property tax abatement from the City m return for Company's construction of
Page 1
Ordinance Designating T Abatement Reinvestment Zone Number Fifty-three,
City of Fort Worth, T
such Improvements and compliance with certain other commitments that will foster
economic development m the Zone and the Crty m general, and
WHEREAS, on November 1 2005 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 m a newspaper of
general circulation m the City on October 24 2005 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 Heanng 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 m 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 Heanng and affording a reasonable opportunity for
Page 2
Ordinance Designating T Abatement Reinvestment Zone Number Fifty-three,
City of Fort Worth, T
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 creation of a reinvestment zone under Chapter 312 of
the Code.
1.2. As a result of designation as a reinvestment zone, which is a condition for Omni s
agreement to construct the Improvements, the area within the Zone is reasonably
likely to contribute to the expansion of primary employment and to attract mayor
investment m the Zone that will be a benefit to property m the Zone and will
contribute to the economic development of the City
1.3 The Improvements proposed for the Zone, as more specifically outlined m the
Public Hearing and which will be made pursuant to a tax abatement agreement
with Company that must subsequently be approved by the City Council, include
the construction of an electronics manufacturing and distribution facility The
Improvements are feasible and practical and, once completed, 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 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-three,
City of Fort Worth, T
Section 2.
DESIGNATION OF ZONE.
That the City Council hereby designates the Zone described in Exhibit A
attached and made a part of this Ordinance for all purposes as a reinvestment zone for
purposes of granting a commerciaUindustrial 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-three, City of Fort Worth, Texas. This project is
eligible for commercial/industrial tax abatement pursuant to Section 4.2 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 ~unsdiction,
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,
opinion or~udgment.
Page 4
Ordinance Designating T Abatement Reinvestment Zone Number Fifty-three,
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 ,rl,~pil~im 1u 2+^ I ~oZC~~
APPROVED AS TO FORM AND LEGALITY
By
Peter Vaky
Assistant City Attorney
Page 5
Ordinance Designating T Abatement Reinvestment Zone Number Fifty-three,
City of Fort Worth, T
EXHIBIT A
DESCRIPTION OF ZONE
Lot 1 R, Block 7 Riverbend West Business Park, Fort Worth, Tarrant County Texas, as shown by
plat recorded in Cabinet A, Slide 10587 of the Plat Records Tarrant County Texas
Ordinance Designating T Abatement Reinvestment Zone Number Fifty-three,
City of F rt Worth, T
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION Approved on 11/1/2005 Ordinance No 16683-11 2005
DATE Tuesday November 01 2005
LOG NAME 17TARZ53ALLIED REFERENCE NO G-14992
SUBJECT
Adopt Ordinance Designating Tax Abatement Reinvestment Zone No 53 City of Fort Worth Texas
RECOMMENDATION
It is recommended that the City Council
1 Hold a public hearing concerning the designation of Tax Abatement Reinvestment Zone No 53 City of
Fort Worth, Texas, and
2. Adopt the attached ordinance that designates Tax Abatement Reinvestment Zone No 53 City of Fort
Worth, Texas pursuant to and in accordance with Chapter 312 of the Texas Tax Code.
DISCUSSION
The proposed Reinvestment Zone Number 53 City of Fort Worth Texas (Zone) is in east Fort Worth in the
Riverbend Business Park and is in Council District 4 The exact boundaries of the proposed zone are
described in Exhibit A of the attached ordinance Allied Electronics, Inc. is considering development of this
site into a corporate headquarters and electronics manufacturing and distribution facility
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 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
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that this action does not require the expenditure of City funds.
Logname 17TARZ53ALLIED Page 1 of 2
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: Ardina Washington (8003)
Jay Chapa (5804)
Logname• 17TARZ53ALLIED Page 2 of 2