HomeMy WebLinkAboutOrdinance 16220~~~
ORDINANCE NO.
AN ORDINANCE DESIGNATING A CERTAIN CONTIGUOUS
GEOGRAPHIC AREA IN THE CITY OF FORT WORTH AS `TAX
INCREMENT REINVESTMENT ZONE NUMBER ELEVEN CITY
OF FORT WORTH,. TEXAS"• CREATING A BOARD OF
DIRECTORS FOR THE ZONE, PROVIDING THE EFFECTIVE
AND TERMINATION DATES FOR THE ZONE ESTABLISHING
A TAX INCREMENT FUND FOR THE ZONE AND
CONTAINING~OTHER MATTERS RELATED TO THE ZONE.
WHEREAS, the City Council desires to promote the development of land in that
certain contiguous geographic area m the City which is more specifically described m
Exhibit A of this Ordinance (the Zone") through the creation of a new reinvestment
zone as authorized by and In accordance with the Tax Increment Financing Act, codified
at Chapter 311 of the Texas Tax Code (the `Code"), and
WHEREAS, on or about July 30, 2004 the City provided written notice to the
governing body of each taxing umt that levies real property taxes in the proposed Zone of
(i) the Crty's intent to establish the Zone; (ii) a description of the boundaries of the Zone•
(iii) the City's tentative plans for development of the Zone; and (iv) an estimate of the
general impact of the Zone on property values and tax revenues, and
WHEREAS, m accordance with the requirement imposed by Section 311 003(e)
of the Code, the City provided such written nonce more than sixty (60) days prior to the
date of the public hearing conducted pursuant to Section 311 003(c) of the Code; and
WHEREAS the City has prepared preliminary project and financing plans for
the proposed Zone and provided a copy of those plans to the govermng body of each
taxing unit that levies taxes on real property m the Zone, as required by Section
311 003(b) of the Code (the `Preliminary Plans")• and
Page 1
Ordinance Designating Tax Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T xas
WHEREAS, in accordance with Section 311 003(f) of the Code, on October 5
2004 the City made a single formal presentation to the governing body of each county
and school distnct that levies real property taxes In the proposed Zone, as agreed to in
wntmg by the Fort Worth Independent School Distnct, which presentation, among other
things, included (i) a descnption of the proposed boundanes of the Zone; (ii) the City's
tentative plans for development of the Zone; and (iii) an estimate of the general impact of
the Zone on property values and tax revenues, and
WHEREAS, on December 7 2004 the City Council held a public heanng
regarding the creation of the Zone and its benefits to the City and to property in the Zone
and afforded a reasonable opportunity for (i) all interested persons to speak for or against
the creation of the Zone, its boundanes or the concept of tax increment financing and (ii)
owners of real property m the proposed Zone to protest inclusion of their property in the
Zone, as required by Sections 311 003(c) and (d) of the Code; and
WHEREAS, notice of the public hearing was published in a newspaper of
general circulation in the City on November 29 2004 which satisfies the requirement of
Section 311 003(c) of the Code that publication of the notice occur not later than the
seventh day before the date of the public heanng;
NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS
Page 2
Ordinance Designating Tax Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T xas
Section 1
FINDINGS.
That after reviewing all Information before it regarding the establishment of the
Zone and after conducting a public hearing regarding the creation of the Zone and Its
benefits to the City and to property in the Zone and affording a reasonable opportumty
for (i) all Interested persons to speak for or against the creation of the Zone, its
boundaries or the concept of tax increment financing and (ii) owners of real property in
the proposed Zone to protest inclusion of their property in 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 Clty has met the notice and procedural requirements
established by the Code for creation of a reinvestment zone under the Code.
1.2. The Zone consists of approximately 454 acres of vacant land and lacks essential
Infrastructure such as, without limitation, roads, sewers and utility lines that are
prerequisites to any viable development within the Zone. Even though vibrant
development surrounds portions of the Zone, the substantial cost to construct and
install essential Infrastructure within the Zone itself is a barner to development of
the Zone by private interests alone.
1.3. The City's current arterial system is not conducive to convenient and orderly
public access of the area within the Zone. In order to provide such access, the
construction of new roads and budges and the acquisition of public right-of way
in connection therewith, both In and out of the Zone, is needed. The substantial
Page 3
Ordinance Designating Tax Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T xas
cost to construct such roads and budges and to acquire such public right-of way is
a barrier to development of the Zone by private interests alone.
1.4. Based on the facts set forth in Sections 1.2 and 1.3 hereof, as well as on all other
information provided to and/or known by the City Council with respect to the area
within the Zone and the area in the vicimty of the Zone, the City Council hereby
finds that Development of the Zone will not occur solely through pnvate
investment m the foreseeable future.
1.5. Based on, but not limited to, information contained m an economic impact
analysis undertaken by the City and an independent study by Texas Perspectives,
Inc., as set forth in the Preliminary Plans, improvements in the Zone, including,
but not limited to those outlined in the Preliminary Plans, will significantly
enhance the value of all the taxable real property in the Zone and will be of
general benefit to the City
1.6. The City's Comprehensive Plan recommends that the Zone and the area in the
vicinity of the Zone be developed as a regional mixed-use growth center (Clear
Fork) The Comprehensive Plan recognizes numerous benefits that mixed-use
growth centers provide to the City overall, including, but not limited to, economic
development. The Comprehensive Plan specifically recommends that growth
centers be linked with mayor thoroughfares. Designation of the Zone will make
construction of this type of public infrastructure possible. Without the proposed
Zone in place and the project plan that is anticipated to govern its development,
there is a substantial nsk that the Zone will not develop in the sound manner
recommended by the Comprehensive Plan.
Page 4
Ordinance Designating Tax Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T xas
1 7 Currently the area within the Zone creates a barner between the central city and
the southwest side of the City As a result, transportation routes between these
two sectors of the City are inadequate and inefficient. The City's Comprehensive
Plan recognizes the City's longstanding policy to provide for mterconnectlvrty of
neighborhoods to reduce vehicle traps on arterial streets, increase efficiency
reduce air pollution, distribute traffic, improve access to public places, and
improve efficiency m providing services and dehvenes, and rt recommends that
adequate nghts-of way be acquired for future improvements to accommodate
vanous modes of transportation. Construction of the public infrastructure
envisioned by the Preliminary Plans will provide for sought-after connectivity
between the central city and the southwest side of the City Without the proposed
Zone m place and the project plan that is anticipated to govern its development,
there is a substantial risk that the existing transportation and mobility
shortcomings will continue to hinder the sound growth of the City
1.8. The area within the Zone is predominantly open. Based on the facts set forth In
Sections 1 6 and 1 7 hereof as well as on all other information provided to and/or
factors known by the City Council with respect to the area within the Zone and
the area m the vicinity of the Zone, the City Council hereby finds that the area
within the Zone substantially impairs and arrests the sound growth of the City
As a result, the area within the Zone meets the cntena for designation of a
reinvestment zone and satisfies the requirements of Section 311 005 of the Code.
1.9 The 2004 Capital Improvement Program (the `CIP") included voter approval of
$49.5 million in bond expenditures for the City's share of costs for State Highway
Page 5
Ordinance Designating Tax Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T xas
121 Tollway/Southwest Parkway (SH 121T), which costs cover right-of way
acquisition, arterial construction, project enhancements and utility relocations
associated with the construction of SH 121T from Interstate 30 to Altamesa Blvd.
However as stated in numerous public meetings and citizen briefings prior to the
CIP election on February 7 2004 those expenditures were predicated on the City
Council s creation of a tax increment reinvestment zone that would reimburse the
City for those costs through tax increment generated m the reinvestment zone.
Without the Zone and implementation of the Preliminary Plans, the City will not
have the financial capacity to complete that portion of the SH 121T project or the
improvements outlined in the Preliminary Plans.
1.10. No more than ten percent (10%) or less of the property in the Zone is used
currently for residential purposes, as specified by Section 311 006 of the Code.
1.11 According to the most recent appraisal roll of the City the total appraised value of
all taxable real property m the Zone and m existing reinvestment zones m the Crty
does not exceed fifteen percent (15%) of the total appraised value of taxable real
property m the Crty and m industrial districts created by the Crty if any
1 12. The Zone does not contain more than fifteen percent (15%) of the total appraised
value of real property taxable by any county or school district.
Section 2.
DESIGNATION OF NEW ZONE.
That the City Council hereby designates the Zone described in the boundary
description and depicted in the map, both attached hereto as Exhibit A and made a part
Page 6
Ordinance Designating Tax Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T xas
of this Ordinance for all purposes, as a reinvestment zone pursuant to and in accordance
with the Code. This reinvestment zone shall be known as `Tax Increment Reinvestment
Zone Number Eleven, City of Fort Worth, Texas.
Section 3.
ZONE BOARD OF DIRECTORS.
That a board of directors for the Zone ("Board') is hereby created. The Board
shall consist of eleven (11) members who shall serve for terms of two (2) years each. Of
these eleven (11) members, each taxing umt other than the City that levies taxes on real
property in the Zone may but Is not required to, appoint one (1) member to the Board.
After each taxing umt other than the City designates to the City either the name of the
member that the taxing umt wishes to appoint or the fact that the taxing umt wishes to
waive rts nght to appoint a member the City Council shall appoint whatever number of
members are necessary to fill the remaining positions on the Board. Such members may
be members of the City Council.
Section 4.
TERM OF ZONE.
That the Zone shall take effect immediately upon the adoption of this Ordinance
and terminate on the earlier of (i) December 31 2025 or an earlier termination date
designated by an ordinance adopted after the effective date of this Ordinance or (ii) the
date on which all project costs, tax increment bonds and interest on those bonds have
been paid or otherwise satisf ed in full.
Page 7
Ordinance Designating Tax Increment Reinvestment Zone Number Eleven,
City of Fort Worth; T xas
Section 5.
DETERMINATION OF TAX INCREMENT BASE.
That the tax increment base for the Zone, as def ned by Section 311 012(c) of the
Code, shall be the total appraised value of all real property In the Zone taxable by a
taxing unit as of January 1 2004 which Is the year m which the Zone was designated as a
reinvestment zone.
Section 6.
TAX INCREMENT FUND.
That a tax increment fund for the Zone (the `TIF Fund') Is hereby established.
The TIF Fund may be divided into additional accounts and sub-accounts authorized by
resolution or ordinance of the City Council. The TIF Fund shall consist of (i) the
percentage of the tax increment, as defined by Section 311 012(a) of the Code, that each
taxing unit which levies real property taxes In the Zone, other than the City has elected to
dedicate to the TIF Fund pursuant to an agreement with the City authorized by Section
311 013(f) of the Code, plus (ii) the City's contribution of one hundred percent (100%) of
the City's tax increment, as defined by Section 311 012(a) of the Code, subject to any
binding agreement executed at any time by the City that pledges an amount of legally
available City funds whose calculation Is based, in whole or In part, on payment to or
receipt by the City of any portion of such tax increment. The TIF Fund shall be
maintained In an account at the depository bank of the City and shall be secured In the
Page 8
Ordinance Designating Tax Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T xas
manner prescribed by law for Texas cities. Revenues in the TIF Fund will be used solely
in accordance with Section 311 014 of the Code.
Section 7
TAX INCREMENT AGREEMENTS.
That, pursuant to Sections 311 008 and 311 013 of the Code, the City Manager
and City Attorney are hereby authorized to execute and deliver for and on behalf of the
City tax increment agreements with taxing units that levy real property taxes m the Zone.
Section 8.
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.
Section 9
IMMEDIATE EFFECT
That this Ordinance shall take effect and be in full force and effect from and after
its adoption.
AND IT IS SO ORDAINED.
Page 9
Ordinance Designating Tax Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T xas
ADOPTED AND EFFECTIVE. /Z 7 D
APPROVED AS TO FORM AND LEGALITY
By
.Peter Vaky
Assistant City Attorney
Date /2 7-0~
M&C G-156 DS
Page 10
Ordinance Designating Tax Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T xas
EXHIBIT A
DESCRIPTION AND DEPICTION OF THE ZONE
Being a 454 48 acre tract of land situated In the F G Beasley Survey Abstract No 134
the F G Beasley Survey Abstract No 135 the L. J Edwards Survey Abstract No 464
and the S C. Inman Survey Abstract No 824 Crty of Fort Worth, Tarrant County
Texas, said 454.248 acre tract of land being a portion of a 320 acre tract of land (by deed)
out of said F G Beasley Survey Abstract No 134 a 150 acre tract of land (by deed) out
of said F G Beasley Survey Abstract No 135 an 87.5 acre tract of land (by deed) out of
said S C Inman Survey Abstract No 824 and a 640 acre tract of land (by deed) out of
the L. J Edwards Survey Abstract No 464 said tracts being deeded to Edwards Geren
Limited as recorded In Volume 12915 Page 394 of the Deed Records of Tarrant County
Texas, said 454.248 acre tract of land being more particularly described by metes and
bounds as follows.
BEGINNING at a 5/8 inch Iron rod with cap stamped `Bnttaln & Crawford" found the
northwest corner of Block AR 1R of Country Day Park, an addrtlon to the Clty of Fort
Worth, Tarrant County Texas as recorded In Cabinet A, S11de 8424 of the Plat Records
of Tarrant County Texas, Bald 5/8 Inch Iron rod with cap stamped `Brlttaln & Crawford
having grid coordinates of N=6,937 431 98 and E=2,303,617 19•
THENCE South 89 degrees 34 minutes 20 seconds West, a dlstance of 292.17 feet to
a 5/8 inch Iron rod with cap stamped 'GORRONDONA set for corner m
the east right-of way line of Bryant Irvin Road (a variable width right-of
way)
THENCE North 00 degrees 12 minutes 03 seconds East, with the east right-of way
tine of said Bryant Irvin Road, a dlstance of 565 54 feet to a 5/8 inch Iron
rod with cap stamped 'GORRONDONA set for corner
THENCE North O1 degrees 50 minutes 43 seconds West, with the east right-of way
line of said Bryant Irvin Road, a dlstance of 500 67 feet to a 5/8 Inch Iron
rod with cap stamped 'GORRONDONA set for corner
THENCE North 00 degrees 58 minutes 50 seconds West, with the east right-of way
tine of Bald Bryant Irvin Road, a dlstance of 299 35 feet to a 5/8 inch Iron
rod with cap stamped 'GORRONDONA set for corner
THENCE North 00 degrees 43 minutes 23 seconds West, with the east right-of way
line of said Bryant Irvin Road, a dlstance of 1324.23 feet to a 5/8 Inch Iron
rod with cap stamped 'GORRONDONA set for the beginning of a curve
to the right having a radius of 11409 16 feet, a central angle of O1 degrees
03 minutes 00 seconds and whose chord bears North 00 degrees 11
minutes 41 seconds West, a dlstance of 209 08 feet;
Ordinance Designating Tax Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T xas
THENCE with said curve to the right and with the east nght-of way line of said
Bryant Irvin Road, an arc length of 209 08 feet to a 5/8 inch iron rod with
cap stamped 'GORRONDONA set for corner
THENCE North 00 degrees 19 minutes 49 seconds East, with the east nght-of way
line of said Bryant Irvin Road, a distance of 69.50 feet to a 5/8 mch iron
rod with cap stamped 'GORRONDONA set for corner
THENCE North 14 degrees 06 minutes 24 seconds East, with the east nght-of way
line of said Bryant Irvin Road, a distance of 142.24 feet to a 5/8 inch iron
rod with cap stamped 'GORRONDONA set for corner
THENCE North 00 degrees 43 minutes 18 seconds East, with the east nght-of way
line of said Bryant Irvin Road, a distance of 352.99 feet to a 5/8 mch iron
rod found for the intersection of the east nght-of way hne of said Bryant
Irvin Road with a south line of the Tnmty River as deeded to the Tarrant
County Water Control and Improvement Distract Number One and
recorded m Volume 4559 Page 1 of said Deed Records of Tarrant County
Texas,
THENCE North 00 degrees 29 minutes 06 seconds East, with the east nght-of way
line of said Bryant Irvin Road, a distance of 466.42 feet to a 5/8 inch iron
rod with cap stamped 'GORRONDONA set for mtersechon of the east
nght-of way hne of said Bryant Irvin Road with a north hne of the Tnmty
River as deeded to the Tarrant County Water Control and Improvement
Distract Number One and recorded in Volume 4559 Page 1 of said Deed
Records of Tarrant County Texas,
THENCE North 63 degrees 47 minutes 13 seconds West, with the east nght-of way
line of said Bryant Irvin Road, a distance of 19 15 feet to a 5/8 inch iron
rod with cap stamped 'GORRONDONA set for corner
THENCE North 04 degrees 04 minutes 10 seconds West, with the east nght-of way
line of said Bryant Irvin Road, a distance of 320 53 feet to a 5/8 inch iron
rod found for corner
THENCE North 00 degrees 42 minutes 13 seconds West, with the east nght-of way
hne of said Bryant Irvin Road, passing at a distance of 66 44 feet, a point
for the intersection of the east nght-of way hne of said Bryant Irvin Road
with the south hne of a 12.8 acre tract of land (by deed) deeded to Texas
Electnc Service Company as recorded in Volume 2588, Page 562 of said
Deed Records of Tarrant County Texas, in all, a distance of 149 71 feet to
a 5/8 inch iron rod with cap stamped 'GORRONDONA set for the
intersection of the east nght-of way line of said Bryant Irvin Road with
the north line of said 12.8 acre tract of land,
Ordinance Designating Tax Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T xas
THENCE North 00 degrees 34 minutes 34 seconds West, with the east right-of way
line of said Bryant Irvin Road, a distance of 328 90 feet to a 5/8 inch iron
rod with cap stamped 'GORRONDONA set for corner
THENCE North 06 degrees 22 minutes 29 seconds East, with. the east right-of way
hne of said Bryant Irvin Road, a distance of 574 43 feet to a 5/8 inch iron
rod with cap stamped 'GORRONDONA set for the intersection of the
east right-of way line of said Bryant Irvin Road with the south right-of
way hne of the Umon Pacific Railroad,
THENCE North 66 degrees 47 minutes 12 seconds East, with the south right-of way
line of said Umon Pacific Railroad, passing at a distance of 1642.81 feet a
5/8 inch iron rod with cap stamped `GORRONDONA set for the
northwest corner of a 2.082 acre tract of land (by deed) deeded to Texas
Electric Service Company as recorded m Volume 5826, Page 789 of said
Deed Records of Tarrant County Texas, and passing at a distance of
1868 17 feet a 5/8 inch u•on rod with cap stamped `GORRONDONA set
for the northeast corner of said 2.082 acre tract of land, in all, a distance of
3740 63 feet to a 1 inch iron rod found for corner
THENCE North 71 degrees 02 minutes 12 seconds East, with the south right-of way
line of said Umon Pacific Railroad, a distance of 680 41 feet to a 5/8 inch
iron rod with cap stamped 'GORRONDONA set for the beginning of a
curve to the left having a radius of 5729.58 feet, a central angle of 07
degrees 00 minutes 12 seconds and whose chord bears North 67 degrees
32 minutes 06 seconds East, a distance of 699.90 feet;
THENCE with said curve to the left and with the south right-of way line of said
Umon Pacific Railroad, an arc length of 700.34 feet to a 5/8 inch iron rod
with cap stamped 'GORRONDONA set for corner
THENCE North 64 degrees 02 minutes 00 seconds East, with the south right-of way
line of said Umon Pacific Railroad, a distance of 99 04 feet to a 5/8 inch
iron rod with cap stamped 'GORRONDONA set for corner
THENCE North 78 degrees 13 minutes 00 seconds East, with the south right-of way
line of said Umon Pacific Railroad, a distance of 276 03 feet to a 5/8 inch
iron rod with cap stamped 'GORRONDONA set for corner
THENCE North 66 degrees 17 minutes 00 seconds East, with the south right-of way
line of said Umon Pacific Railroad, a distance of 1468.23 feet to a 5/8 inch
iron rod with cap stamped 'GORRONDONA set corner
THENCE South 12 degrees 56 minutes 00 seconds East, with the south right-of way
line of said Umon Pacific Railroad, passing at a distance of 20 82 feet a
Ordinance Designating Tax Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T
fence corner post found for reference, in all, a distance of 298.32 feet to a
5/8 inch iron rod with cap stamped 'GORRONDONA set for the
mtersechon of the south right-of way line of said Umon Pacific Railroad
with the north line of said 12.8 acre tract of land deeded to Texas Electric
Service Company
THENCE South 63 degrees 33 minutes 18 seconds West, with the north line of said
12 8 acre tract of land deeded to Texas Electric Service Company a
distance of 5005.26 feet to a 5/8 Inch iron rod with cap stamped
'GORRONDONA set for the southeast corner of a tract of land described
as Tract 2 deeded to Texas Electric Service Company as recorded in
Volume 3461 Page 77 of said Deed Records of Tarrant County Texas,
THENCE North 26 degrees 26 minutes 42 seconds West, with the east line of said
Tract 2 and with the east line of said 2.082 acre tract of land, a distance of
668.36 feet to a point for corner m the east hne of said 2.082 acre tract of
land,
THENCE South 66 degrees 47 minutes 12 seconds West, a distance of 225.36 feet to
a point for corner In the west hne of said 2 082 acre tract of land
THENCE South 26 degrees .26 minutes 42 seconds East, with the west line of said
2.082 acre tract of land and with the west line of said Tract 2, a distance of
681 07 feet to a 5/8 inch iron rod with cap stamped 'GORRONDONA
set for the southwest corner of said Tract 2, said point being In the north
line of said 12.8 acre tract of land,
THENCE South 63 degrees 33 minutes 18 seconds West, with the north hne of said
12 8 acre tract of land, a distance of 2089 49 feet to a point for corner
THENCE South 00 degrees 42 minutes 13 seconds East, a distance of 83.26 feet to a
point for corner in the south line of said 12.8 acre tract of land,
THENCE North 63 degrees 33 minutes 18 seconds East, with the south line of said
12.8 acre tract of land, a distance of 2125 65 feet to a 5/8 mch iron rod
with cap stamped 'GORRONDONA set for the northwest corner of a
tract of land described as Tract 1 deeded to Texas Electric Service
Company as recorded m Volume 3461 Page 77 of said Deed Records of
Tarrant County Texas,
THENCE South 26 degrees 26 minutes 42 seconds East, with the west line of said
Tract 1 a distance of 37.50 feet to a 5/8 inch iron rod with cap stamped
'GORRONDONA set for the southwest corner of said Tract 1
Ordinance Designating Tax Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T xas
THENCE North 63 degrees 33 minutes 18 seconds East, with the south line of said
Tract 1 a distance of 225 00 feet to a 5/8 inch iron rod with cap stamped
'GORRONDONA set for the southeast corner of said Tract 1
THENCE North 26 degrees 26 minutes 42 seconds West, with the east line of said
Tract 1 a distance of 37.50 feet to a 5/8 Inch Iron rod with cap stamped
'GORRONDONA set for the northeast corner of Bald Tract 1 Bald 5/8
Inch Iron rod with cap stamped 'GORRONDONA being In the south line
of said 12.8 acre tract of land,
THENCE North 63 degrees 33 minutes 18 seconds East, with the south line of Bald
12.8 acre tract of land, passing at a distance of 3314.53 feet a concrete
monument found for reference, In all, a distance of 4987.24 feet to a 5/8
inch iron rod with cap stamped 'GORRONDONA set for corner in the
south nght-of way hne of said Umon Pacific Railroad,
THENCE South 12 degrees 56 minutes 00 seconds East, with the south right-of way
line of said Umon Pacific Railroad, a distance of 199.54 feet to a 60d nail
found for corner
THENCE North 89 degrees 37 minutes 31 seconds East, with the south nght-of way
line of said Union Pacific Railroad, a distance of 359 66 feet to a fence
corner post found for corner
THENCE South 32 degrees 44 minutes 04 seconds East, with the south nght-of way
line of said Umon Pacific Railroad, a distance of 40.31 feet to a 5/8 Inch
Iron rod with cap stamped 'GORRONDONA set for corner
THENCE South 54 degrees 14 minutes 04 seconds East, with the south right-of way
line of said Union Pacific Railroad, a distance of 77 90 feet to a fence
corner post found for corner In a northwest line of the Trinity River as
deeded to the Tarrant County Water Control and Improvement Dlstnct
Number One and recorded. in Volume 4559 Page 1 of said Deed Records
of Tarrant County Texas, from which a 5/8 Inch Iron rod found for corner
m a northwest hne of said Tnmty River bears North 29 degrees 56
minutes 42 seconds East, a distance of 181 06 feet, North 16 degrees 51
minutes 42 seconds East, a distance of 103.30 feet and North 33 degrees
52 minutes 42 seconds East, a distance of 153 10 feet;
THENCE South 29 degrees 56 minutes 56 seconds West, with a northwest line of
said Trinity River a distance of 1422.20 feet to a 5/8 Inch Iron rod found
for corner
THENCE South 32 degrees 03 minutes 56 seconds West, with a northwest line of
said Tnnity River a distance of 284.30 feet to a 5/8 Inch Iron rod with cap
stamped 'GORRONDONA set for corner
Ordinance Designating Tax Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T xas
THENCE South 32 degrees 40 minutes 56 seconds West, with a northwest line of
said Tnmty River a distance of 673.30 feet to a 5/8 inch iron rod found
for corner
THENCE South 31 degrees 56 minutes 10 seconds West, with a northwest line of
said Tnmty River a distance of 1021 19 feet to a 5/8 mch iron rod with
cap stamped 'GORRONDONA set for corner
THENCE South 32 degrees 43 minutes 04 seconds West, with a northwest line of
said Tnmty River a distance of 277.90 feet to a 5/8 inch iron rod with cap
stamped 'GORRONDONA set for corner
THENCE South 37 degrees 58 minutes 19 seconds West, with a northwest line of
said Tnmty River a distance of 213.50 feet to a 5/8 inch iron rod with cap
stamped 'GORRONDONA set for corner
THENCE South 51 degrees 54 minutes 09 seconds West, with a northwest line of
said Tnmty River a distance of 253 89 feet to a 5/8 inch iron rod with cap
stamped 'GORRONDONA set for corner
THENCE South 87 degrees O1 minutes 04 seconds West, with a north line of said
Tnmty River a distance of 168 60 feet to a 5/8 inch iron rod found for
corner
THENCE South 80 degrees 49 minutes 04 seconds West, with a north line of said
Trinity River a distance of 311 40 feet to a 5/8 inch iron rod with cap
stamped 'GORRONDONA set for corner
THENCE North 81 degrees 31 minutes 56 seconds West, with a north line of said
Tnmty River a distance of 245 10 feet to a 5/8 inch iron rod found for
corner
THENCE North 63 degrees 09 minutes 56 seconds West, with a northeast line of
said Tnnity River a distance of 1221 10 feet to a 5/8 inch iron rod found
for corner
THENCE North 77 degrees OS minutes 56 seconds West, with a north line of said
Trinity River a distance of 336 40 feet to a 5/8 mch iron rod found for
corner
THENCE South 86 degrees 06 minutes 04 seconds West, with a north line of said
Tnmty River a distance of 1494 40 feet to a 5/8 inch iron rod found for
corner
Ordinance Designating Tax Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T xas
THENCE South 79 degrees 20 minutes 04 seconds West, with a north line of Bald
Tnnrty River a dlstance of 484.30 feet to a 5/8 inch iron rod found for
corner
THENCE South 65 degrees 57 minutes 04 seconds West, with a north line of said
Tnnrty River a distance of 569 70 feet to a 5/8 mch iron rod with cap
stamped 'GORRONDONA set for corner
THENCE South 54 degrees 56 minutes 04 seconds West, with a northwest line of
said Tnnrty River a dlstance of 182.89 feet to a point for corner
THENCE South 00 degrees 29 minutes 06 seconds West, a distance of 466 66 feet to
a point for corner m a southeast hne of said Tnnrty Rlver•
THENCE North 56 degrees 48 minutes 19 seconds East, with a southeast line of said
Tnnrty River a dlstance of 248 09 feet to a 5/8 inch iron rod found for
corner
THENCE North 60 degrees 02 minutes 19 seconds East, with a southeast hne of said
Tnnrty River a distance of 307 60 feet to a 5/8 Inch iron rod found for
corner
THENCE North 68 degrees 17 minutes 19 seconds East, with a south line of Bald
Tnnrty River a dlstance of 327 00 feet to a 5/8 Inch iron rod found for
corner
THENCE North 76 degrees 52 minutes 19 seconds East, with a south line of said
Tnnrty River a dlstance of 321 70 feet to a 5/8 mch Iron rod found for
corner
THENCE North 86 degrees 17 minutes 19 seconds East, with a south line of said
Tnnrty River a dlstance of 563 90 feet to a 5/8 mch Iron rod found for
corner
THENCE North 85 degrees 38 minutes 19 seconds East, with a south hne of said
Tnnrty River a dlstance of 7 71 feet to a 5/8 Inch Iron rod with cap
stamped 'GORRONDONA set for the Intersection of the south hne of the
Bald Tnnrty River with the proposed west right-of way hne of Southwest
Parkway (SH 121 T), from which a 5/8 Inch Iron rod found for corner In a
south line of Bald Tnnrty River bears North 85 degrees 38 minutes 19
seconds East, a dlstance of 611 69 feet, North 87 degrees 06 minutes 19
seconds East, a dlstance of 270.20 feet and South 78 degrees 35 minutes
41 seconds East, a dlstance of 323 00 feet, said 5/8 Inch Iron rod with cap
stamped 'GORRONDONA being the beginning of anon-tangent curve
to the left having a radius of 4800 00 feet, a central angle of 10 degrees 55
Ordinance Designating T Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T
minutes 32 seconds and whose chord bears South 11 degrees 36 minutes
54 seconds West, a distance of 913.92 feet;
THENCE with said non-tangent curve to the left and with the proposed west right
of way line of said Southwest Parkway an arc length of 915.30 feet to a
5/8 inch iron rod with cap stamped 'GORRONDONA set for corner
THENCE South 04 degrees 52 minutes 04 seconds West, with the proposed west
right-of way line of said Southwest Parkway a distance of 623 52 feet to a
5/8 inch iron rod with cap stamped 'GORRONDONA set for the
beginning of a curve to the left having a radlus of 2975 79 feet, a central
angle of 14 degrees 16 minutes 18 seconds and whose chord bears South
00 degrees 59 minutes OS seconds East, a dlstance of 739.31 feet;
THENCE with said curve to the left and with the proposed west right-of way line of
sald Southwest Parkway an arc length of 741.23 feet to a 5/8 inch iron rod
with cap stamped 'GORRONDONA set for corner
THENCE South 08 degrees 07 minutes 11 seconds East, with the proposed west
right-of way line of said Southwest Parkway a distance of 253 02 feet to a
5/8 inch Iron rod with cap stamped 'GORRONDONA set for corner
THENCE South 15 degrees 31 minutes 14 seconds East, with the proposed west
right-of way line of Bald Southwest Parkway a dlstance of 170.52 feet to a
5/8 Inch Iron rod with cap stamped 'GORRONDONA set for corner
THENCE South 11 degrees 47 minutes 23 seconds East, wlth the proposed west
right-of way line of Bald Southwest Parkway a dlstance of 420 42 feet to a
5/8 Inch Iron rod with cap stamped 'GORRONDONA set for the
beglmm~g of a curve to right having a radlus of 5621.58 feet, a central
angle of 04 degrees 44 minutes 56 seconds and whose chord bears South
09 degrees 24 minutes 55 seconds East, a dlstance of 465 79 feet;
THENCE with said curve to right and with the proposed west right-of way line of
sald Southwest Parkway an arc length of 465.92 feet to a 5/8 Inch Iron rod
with cap stamped 'GORRONDONA set for corner
THENCE South 07 degrees 02 minutes 28 seconds East, with the proposed west
right-of way llne of Bald Southwest Parkway a dlstance of 177.36 feet to a
5/8 inch Iron rod with cap stamped 'GORRONDONA set for corner m
the north line of Block AR 1R of Bald County Day Park;
THENCE South 89 degrees 25 minutes 02 seconds West, with the north llne of Bald
Block AR 1R, a dlstance of 879 43 feet to a 5/8 Inch Iron rod wlth cap
stamped `Carter & Burgess" found for an exterior ell corner in the north
line of said Block AR 1R,
Ordinance Designating Tax Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T xas
THENCE South 00 degrees 26 minutes 48 seconds East, with the north line of said
Block AR 1R, a distance of 250 02 feet to a 5/8 inch iron rod with cap
stamped 'GORRONDONA set for m interior ell corner m the north line
of said Block AR 1R,
THENCE South 89 degrees 34 minutes 20 seconds West, with the north line of said
Block AR 1R, a distance of 540 87 feet to the POINT OF BEGINNING
and coritaimng 19 791 491 square feet or 454.350 acres of land, LESS
AND EXCEPT 2,837 square feet being a 5 0 step of land across the
Trinity River as deeded to the Tarrant County Water Control and
Improvement District Number One and recorded in Volume 4559 Page 1
of said Deed Records of Tarrant County Texas as shown on Detail A of
the attached plat, and LESS AND EXCEPT 462 square feet being a 5 0
strip of land across a 12 8 acre tract of land (by deed) deeded to Texas
Electric Service Company as recorded m Volume 2588, Page 562 of said
Deed Records of Tarrant County Texas as shown on Detail `B" of the
attached plat, and also LESS AND EXCEPT 1 129 square feet being a
5 0 strip of land across a 2.082 acre tract of land (by deed) deeded to
Texas Electric Service Company as recorded in Volume 5826, Page 789 of
said Deed Records of Tarrant County Texas as shown on Detail `C" of
the attached plat, leaving a net are of 19 787 063 square feet or 454.248
acres of land, more or less:
Notes
(1) A plat of even survey date herewith accompanies this legal description.
(2) All bearings are referenced to the project control for Southwest Parkway
(SH 121 T). All bearings and distances are surface.
(3) All coordinates are grid coordinates, based on the Texas Coordinate
System, NAD-83 (1993), North Central Zone, with a Combined Scale
Factor for this project of 0 99987971
(4) All boundary corners are 5/8 inch iron rod with cap stamped
'GORRONDONA unless otherwise noted.
Richard Kennedy
Registered Professional Land Surveyor
No 5527
Ordinance Designating T Increment Reinvestment Zone Number Eleven,
City of Fort Worth, T xas
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City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION Approved on 12/7/2004 Ordinance No 16220
DATE Tuesday December 07 2004
LOG NAME. 17TIRZ11SWPKWY
REFERENCE NO G-14605
SUBJECT
Public Hearing and Adoption of Ordinance Designating Tax Increment Reinvestment Zone Number
Eleven City of Fort Worth Texas (Southwest Parkway TIF)
RECOMMENDATION
It is recommended that the City Council
1 Hold a public hearing concerning the designation of Tax Increment Reinvestment Zone Number Eleven
City of Fort Worth Texas for tax increment financing purposes, and
2. Adopt the attached ordinance designating Tax Increment Reinvestment Zone Number Eleven City of
Fort Worth Texas pursuant to Tax Increment Financing Act, Texas Tax Code Chapter 311 -(the Act)
DISCUSSION
The proposed Tax Increment Reinvestment Zone Number Eleven City of Fort Worth Texas being referred
to as the Southwest Parkway TIF (the TIF) is located on approximately 454 acres of land in southwest Fort
Worth between Hulen Street and Bryant Irvin Street in Council District 3 The exact boundaries of 'the
property are described in Exhibit A of the attached ordinance The TIF will expire on December 31 2025 or
the earlier date as of which all project costs have been paid
The TIF is intended to help fund Right-Of-Way acquisition arterial connections and enhancements
associated with the construction of SH-121 T or the Southwest Parkway The ordinance provides that the
City will contribute 100% of its tax increment to the TIF each year during the term of the TIF
This public hearing is required by .the Act. Notice of this hearing was (1) delivered to the governing body of
each taxing unit that levies real property taxes on property located within the proposed TIF and (2)
published in a newspaper of general circulation at least seven days prior to this meeting
The proposed area meets the criteria for designation as a reinvestment zone pursuant to the Act because
among other things, including without limitation the reasons contained in the findings of fact set forth in the
attached ordinance the area is primarily open and due to a lack of basic infrastructure that prevents
development from occurring in the area solely through private investment in the reasonably foreseeable
future substantially impairs and arrests the sound growth of the City
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that this action will have no material effect on City funds.
Lo~name. 17TIRZ1ISWPKWY Page 1 of?_
TO Fund/Account/Centers
FROM Fund/AccountlCenters
Submitted for City Manager's Office by_ Dale Fisseler (Acting) (6266)
Originating Department Head. Tom Higgins (6192)
Additional Information Contact: Ardina Washington (8003)
Peter Vaky (7601)
Lo~name 17TIRZ11 SWPKWY PaQP. ~ of 7