HomeMy WebLinkAboutOrdinance 15367~_... _ __
ORDINANCE NO. ~~~~
AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE
CITY OF FORT WORTH AS "TAX ABATEMENT
REINVESTMENT ZONE NUMBER FORTY-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 February 26, 2002 of
Resolution No 2811 (M&C G-13540), 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 in accordance with the Property Redevelopment and
Tax Abatement Act, codified at Chapter 312 of the Texas Tax Code (the "Code"), and
WHEREAS, the City Council desires to promote the development of the area m
the Crty more specifically described m Exhibit "A" of this Ordinance (the "Zone")
through the creation of a reinvestment zone for purposes of granting commercial-
industrial tax abatement, as authorized by and m accordance with Chapter 312 of the
Code; and
WHEREAS, Bank One, N.A. ("Company"), owns property or is under contract
to purchase real property m the Zone and has applied for tax abatement from the City m
return for the construction of certain improvements on that property ("Improvements")
and certain other commitments that will foster economic development m the Zone and
the City in general, and
Page l
Ordinance Designating Tax Abatement Reinvestment Zone Number Forty-one,
City of Fort Worth, Texas
WHEREAS, on December 17, 2002 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 December 9, 2002, 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, m accordance with Sections 312.201(d)(2) and (e) of the Code,
notice of the Public Heanng was delivered m 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:
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:
Page 2
Ordinance Designating Tax Abatement Reinvestment Zone Number Forty-one,
City of Fort Worth, Texas
1.1. The statements and facts set forth m the recitals of this Ordinance are true and
correct. Therefore, the Crty has met the nonce 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, the area wrthm 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
1.3. The Improvements proposed for the Zone, as 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 City Council, 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.
Section 2.
DESIGNATION OF ZONE.
That the City Council hereby designates the Zone described in the boundary
descnphon attached hereto as Exhibit "A" and made a part of this Ordinance for all
purposes as a reinvestment zone for purposes of granting commercial-industrial tax
abatement, as authorized by and m accordance with Chapter 312 of the Code. This Zone
shall be known as "Tax Abatement Reinvestment Zone Number Forty-one, City of Fort
Page 3
Ordinance Designating Tax Abatement Reinvestment Zone Number Forty-one,
City of Fort Worth, Texas
Worth, Texas." The area within the Zone is eligible for commercial-mdustnal tax
abatement pursuant to Resolution No 2811
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 ~unsdichon,
the remaining portions, sections or parts of sections of this 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.
Section 5.
EFFECTIVENESS.
That this Ordinance shall take effect upon its adoption.
AND IT IS SO ORDAINED.
ADOPTED AND EFFECTNE
Page 4
Ordinance Designating Tax Abatement Reinvestment Zone Number Forty-one,
City of Fort Worth, Texas
APPROVED AS TO FORM AND LEGALITY
By.
Peter Vaky
Assistant City Attorney
Date• /2 /T Oz
M&C C-/383~f
Page 5
Ordinance Designating Tax Abatement Reinvestment Zone Number Forty-one,
City of Fort Worth, Texas
EXHIBIT "A"
BOUNDARY DESCRIPTION OF ZONE
~ e
FIRST AMERICAN TITLE INSURANCE COMPANY 02R18637
Exhibit A GF-Number 02R18637
Being a 21 77 acre tract of land situated in the Lorenzo D Burnett Survey,
Abstract No 177, Tarrant County, Texts, being a portion of Lot 3, Block 205,
Area 2, Section 4, Centreport, an addition to the City of Fort Worth, Texas as
recorded in Cabinet A, Slide 5898, Plat Records, Tarrant County, Texas Said
21 77 acre tract of land being more particularly described by metes and bounds
as follows
BEGINNING at a found 1/2 in iron road in the south right-of-way line of South
Frye Road (a 60 foot R 0 W ), said point being the northwest corner of Lot 4,
Block 205, conveyed by deed to Dallas/WP Limited Partnership, as recorded in
Volume 14295, Page 0123, Deed Records, Tarrant County, Texas, and the northeast
corner of said Lot 3, Block 205, Area 2, Section 4, Centreport,
THENCE South 00 degrees 35 minutes 59 seconds West, leaving said south
right-of-way line, and following along the west line of said Lot 4 and the east
line of said Lot 3, being a common line, for a distance of 821 82 to a found
5/8 inch iron rod for corner, said point being in the north line of a tract of
land conveyed by deed to the City of Fort Worth and City of Dallas, as recorded
in Volume 7726, Page 1848, Deed Records, Tarrant County, Texas,
THENCE North 88 degrees 52 minutes 40 seconds West, leaving said common line,
and following along said north line of City of Fort Worth and Dallas tract and
the south line of said Lot 3, being a common line, for a distance of 1176 82
feet to a found 1/2 inch iron rod for corner, said point being the southeast
corner of Block 203AR, Area 2, Section 2, Centreport, as recorded in Volume
388/158, Page 69, Deed Records, Tarrant County, Texas,
THENCE North 00 degrees 12 minutes 14 seconds West, leaving said common line,
and following along the east line of said Block 203AR and the west line of said
Lot 3, being a common line, for a distance of 791 67 feet to a set 1/2 inch
iron rod for corner, said point being the southwest corner of Centreport
Trinity, Ltd as recorded in Volume 14630, Page 370, Deed Records, Tarrant
County, Texas,
THENCE South 88 degrees 51 minutes 37 seconds East, leaving said common line,
and following along the south line of said Centreport Trinity, Ltd for a
distance of 669 86 feet to a set 1/2 inch iron rod for corner,
THENCE North 37 degrees 16 minutes 47 seconds East, for a distance of 84 59
feet to a set 1/2 inch iron rod for corner, said point being in the south line
of Lots 1 and 2, Block 205, Area 2, Section 4, Centreport, as recorded in
Cabinet A, Slide 4457, Plat Records, Tarrant County, Texas, and the north line
of said Lot 3, and being in the west right-of-way line of Buckingham Road (a
variable width R 0 W at this point) and being the point of curvature of a
non-tangent curve to the left, having a delta of 121 degrees 54 minutes 07
seconds, a radius of 75 00 feet and a chord bearing and distance of South 64
degrees OS minutes 03 seconds East, 131 13 feet,
THENCE southeasterly, along said west right-of-way line and the arc of said
GATE: 10f 09!2002 TIME 10:35 AH
y ,. .n
FIRST AMERICAN TITLE INSURANCE COMPANY 02R18637
Exhibit A (Continued) GF-Number 02R18637
non-tangent curve to the left, for a distance of 159 57 feet to a set 1/2 inch
iron rod for corner, said point being in said south right-of-way line of South
Frye Road (a variable width R 0 W at this point) and being the point of
curvature of a reverse curve to the right, having a delta of 35 degrees 38
minutes 04 seconds, a radius of 75 00 feet and a chord bearing and distance of
North 72 degrees 46 minutes 56 seconds East, 45 90 feet,
THENCE northeasterly, along said south right-of-way line and the arc of said
reverse curve to the right, for a distance of 46 65 feet to a set 1/2 inch iron
rod for corner (a 60 foot R 0 W at this point),
THENCE South 89 degrees 24 minutes 02 seconds East, continuing along said south
right-of-way line, for a distance of 305 28 feet to the POINT OF BEGINNING and
CONTAINING 948,489 square feet or 21 77 acres of land, more or less Being a
21 77 acre tract of land situated in the Lorenzo D Burnett Survey, Abstract
No 177, Tarrant County, Texas, being a portion of Lot 3, Block 205, Area 2,
Section 4, Centreport, an addition to the City of Fort Worth, Texas as recorded
in Cabinet A, Slide 5898, Plat Records, Tarrant County, Texas Said 21 77 acre
tract of land being more particularly described by metes and bounds as follows
BEGINNING at a found 1/2 in iron road in the south right-of-way line of South
Frye Road (a 60 foot R 0 W ), said point being the northwest corner of Lot 4,
Block 205, conveyed by deed to DallasjWP Limited Partnership, as recorded in
Volume 14295, Page 0123, Deed Records, Tarrant County, Texas, and the northeast
corner of said Lot 3, Block 205, Area 2, Section 4, Centreport,
THENCE South 00 degrees 35 minutes 59 seconds West, leaving said south
right-of-way line, and following along the west line of said Lot 4 and the east
line of said Lot 3, being a common line, for a distance of 821 82 to a found
5/8 inch iron rod for corner, said point being in the north line of a tract of
land conveyed by deed to the City of Fort Worth and City of Dallas, as recorded
in Volume 7726, Page 1848, Deed Records, Tarrant County, Texas,
THENCE North 88 degrees 52 minutes 40 seconds West, leaving said common line,
and following along said north line of City of Fort Worth and Dallas tract and
the south line of said Lot 3, being a common line, for a distance of 1176 82
feet to a found 1/2 inch iron rod for corner, said point being the southeast
corner of Block 203AR, Area 2, Section 2, Centreport, as recorded in Volume
388/158, Page 69, Deed Records, Tarrant County, Texas,
THENCE North 00 degrees 12 minutes 14 seconds West, leaving said common line,
and following along the east line of said Block 203AR and the west line of said
Lot 3, being a common line, for a distance of 791 67 feet to a set 1/2 inch
iron rod for corner, said point being the southwest corner of Centreport
Trinity, Ltd as recorded in Volume 14630, Page 370, Deed Records, Tarrant
County, Texas,
THENCE South 88 degrees 51 minutes 37 seconds East, leaving said common line,
and following along the south line of said Centreport Trinity, Ltd for a
GATE I0f 09/2002 IIME 10:35 AM
- ., •
FIRST AMERICAN TITLE INSURANCE COMPANY 02R18637
Exhibit A (Continued) GF-Number 02R18637
distance of 669 86 feet to a set 1/2 inch iron rod for corner,
THENCE North 37 degrees 16 minutes 47 seconds East, for a distance of 84 59
feet to a set 1/2 inch iron rod for corner, said point being in the south line
of Lots 1 and 2, Block 205, Area 2, Section 4, Centreport, as recorded. in
Cabinet A, Slide 4457, Plat Records, Tarrant County, Texas, and the north line
of said Lot 3, and being in the west right-of-way line of Buckingham Road (a
variable width R 0 W at this point) and being the point of curvature of a
non-tangent curve to the left, having a delta of 121 degrees 54 minutes 07
seconds, a radius of 75 00 feet and a chord bearing and distance of South 64
degrees OS minutes 03 seconds East, 131 13 feet,
THENCE southeasterly, along said west right-of-way line and the arc of said
non-tangent curve to the left, for a distance of 159 57 feet to a set 1/2 inch
iron rod for corner, said point being in said south right-of-way line of South
Frye Road (a variable width R 0 W at this point) and being the point of
curvature of a reverse curve to the right, having a delta of 35 degrees 38
minutes 04 seconds, a radius of 75 00 feet and a chord bearing and distance of
North 72 degrees 46 minutes 56 seconds East, 45 90 feet,
THENCE northeasterly, along said south right-of-way line and the arc of said
reverse curve to the right, for a distance of 46 65 feet to a set 1/2 inch iron
rod for corner (a 60 foot R 0 W at this point),
THENCE South 89 degrees 24 minutes 02 seconds East, continuing along said south
right-of-way line, for a distance of 305 28 feet to the POINT OF BEGINNING and
CONTAINING 948,489 square feet or 21 77 acres of land, more or less
NOTE The Company is prohibited from insuring the area or quantity of the
land described herein Any statement in the above legal description of the
area or quantity of land is not a representation that such area or quantity
is correct, but is made only for informational and/or identification purposes
and does not override Item 2 of Schedule B hereof
OAIE IO/09/2002 LINE 10 35 AN
City of Fort Worth, Texas
Mayor~and Council Communication
DATE REFERENCE NUMBER LOG NAME PAGE
12/17/02 G-13834 17ZONE-41 1 of 2
SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING TAX ABATEMENT
_ REINVESTMENT ZONE NO 41, 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 41, City
of Fort Worth, Texas, and
2 Adopt the attached ordinance that designates Tax Abatement Reinvestment Zone No 41, City of
Fort Worth, Texas, pursuant to Chapter 312 of the Texas Tax Code
DISCUSSION
The proposed Reinvestment Zone No 41, City of Fort Worth, Texas (Zone) is located in the Centreport
Business Park in far east Fort Worth The exact boundaries of the property are described in Exhibit A
of the attached ordinance Bank One, N.A. is considering this site for a consolidation of three metroplex
processing facilities A tax abatement application has been submitted for its proposed development.
This public hearing is required by the Texas Tax Code Notice of this hearing was (1) delivered to the
governing body of each affected taxing unit, and (2) published in the newspaper at least seven days
prior to this meeting The Act requires the property receiving abatement to be located in a reinvestment
or enterprise zone
The area encompassing the proposed zone meets the statutory criteria for designation as a
reinvestment zone 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
City of Fort Worth, Texas
Mayor and Council Communication
DATE
12/17/02 REFERENCE NUMBER
G-13834 LOG NAME
17ZONE-41 PAGE
2 of 2
SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING TAX ABATEMENT
REINVESTMENT ZONE NO 41, CITY OF FORT WORTH, TEXAS
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that this action will have no material effect on City funds
RR.k
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
Reid Rector 6140
Originating Department Head:
Tom Higgins 6192 (from) APPROVED 12/17/02
ORDINANCE NO 15367
Additional Information Contact:
Ardina Washington 8003