HomeMy WebLinkAboutOrdinance 14975s
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ORDINANCE NO. /~
AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE
CITY OF FORT WORTH AS "TAX ABATEMENT
REINVESTMENT ZONE NUMBER FORTY, 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 Crty Council's adoption on February 29, 2000 of
Resolution No 2617 (M&C G-12829), 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 m 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 City more specifically described in 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 in accordance with Chapter 312 of the
Code; and
WHEREAS, AT&T Wireless Services, Inc. ("Company"), is under contract to
purchase real property in the Zone and has applied for tax abatement from the City in
return for the construction of certain improvements on that property ("Improvements")
and certain other commitments that will foster economic development in the Zone and
the City in general, and
Page 1
Ordinance Designating Tax Abatement Reinvestment Zone Number Forty,
City of Fort Worth, Texas
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WHEREAS, on February 19, 2002 the City Council held a public heanng
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 Heanng was published in a newspaper of
general circulation m the City on February 8, 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 heanng; and
WHEREAS, m accordance with Sections 312.201(d)(2) and (e) of the Code,
notice of the Public Heanng was delivered m wasting not later than the seventh day
before the date of the public heanng to the presiding officer of the governing body of
each taxing unit that includes m its boundaries real property that is to be included m 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 Heanng 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,
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 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, the area within the Zone is
reasonably likely to contribute to the expansion of primary 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 in 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, are feasible and practical
and, once completed, will benefit the land included m 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.
Section 2.
DESIGNATION OF ZONE.
That the Crty Council hereby designates the Zone described m 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 commercial-industrial tax
abatement, as authorized by and to accordance with Chapter 312 of the Code. This Zone
shall be known as "Tax Abatement Reinvestment Zone Number Forty, Crty of Fort
Page 3
Ordinance Designating Tax Abatement Reinvestment Zone Number Forty,
City of Fort Worth, Texas
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Worth, Texas." The area within the Zone is eligible for commercial-industrial tax
abatement pursuant to Resolution No 2617
Section 3.
expire five (5) years thereafter The Zone maybe renewed by the City Council for one or
That the Zone shall take effect upon the effective date of this Ordinance and
more subsequent terms of five (5) years or less.
Section 4.
declared invalid, inoperative or void for any reason by a court of competent ~urtsdiction,
That if any portion, section or part of a section of this Ordinance is subsequently
the rematmng 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.
ADOPTED AND EFFECTIVE
That this Ordinance shall take effect upon rts adoption.
AND IT IS SO ORDAINED.
TERM OF ZONE.
SEVERABILITY.
EFFECTIVENESS.
Z- I g ~Z
Page 4
Ordinance Designating Tax Abatement Reinvestment Zone Number Forty,
City of Fort Worth, Texas
APPROVED AS TO FORM AND LEGALITY
By
Peter Vaky
Assistant City Attorney
Date 2 - ~' 0 2
M&C ~ ' /3.~~q
Page 5
Ordinance Designating Tax Abatement Reinvestment Zone Number Forty,
City of Fort Worth, Texas
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Exhibit A
Legal Description of Reinvestment Zone Number 40
BEING a tract of land situated in the Jonathan Evans Survey, Abstract No 470, the
Ireneous Niece Survey, Abstract No 1160, and the A. C Warren Survey, Abstract No
1687, Tarrant County, Texas, and being a portion of that 156 80 acre tract and that 50 40
acre tract of land as described by deed to AIL Investment, L.P and recorded in Volume
14315, Page 60 and a portion of that Tract 4 as described by deed to ADL Development,
L.P formerly known as Alliance Airport, LTD , and recorded in Volume 9378, Page
2033, all of County Records, Tarrant County, Texas, said tract of land being more
particularly described by metes and bounds as follows.
BEGINNING at a '/2 inch iron rod found at the northeast corner of said 50 40 acre tract,
said point being in the westerly right-of--way line of Old Denton Road (County Road No
4048)
THENCE S 00°35'47"W, 1050 14 feet (S 00°35'41 "W) along said westerly right-of--way
line and the easterly line of said 50 40 acre tract to a 5/8 inch iron rod with cap stamped
"Carter & Burgess" set.
THENCE N 88°28'52"W, 2722 88 feet to a 5/8 inch rod with cap stamped "Carter &
Burgess" set in the westerly line of said ADL Development, Tract 4 and in the easterly
right-of--way line of Interstate Highway 35W, the beginning of anon-tangent curve to the
right;
THENCE 1127.28 feet along the arc of said non-tangent curve to the right, along said
easterly right-of--way line, along the westerly line of said ADL Development Tract 4 and
along the westerly line of said 156 80 acre tract, through a central angle of 12°21'02", a
radius of 5229 65 feet and a long chord of N 22°34' 18"E, 1125 10 feet to a Texas
Highway Department monument found, the northwest corner of said 156 80 acre tract;
THENCE S 88°28'52"E, 2301 81 feet (Deed S 88°28'58" E, 2301 69 feet) along the
northerly line of said 156 80 acre tract and the northerly line of said 50 40 acre tract to
the POINT OF BEGINNING and containing 2,660,743 square feet or 61 082 acres of
land, more or less.
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City of Fort Worth, Texas
Mayor and Council Communication
DATE REFERENCE NUMBER LOG NAME PAGE
2/19/02 G-13529 09ZONE40 1 of 2
SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING TAX ABATEMENT
REINVESTMENT ZONE NO 40, 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 40, City
of Fort Worth, Texas, and
2 Adopt the attached ordinance that designates Tax Abatement Reinvestment Zone No 40, City of
Fort Worth, Texas, pursuant to the Texas Property Redevelopment and Tax Abatement Act, Tax
Code, Chapter 312
DISCUSSION
The proposed Reinvestment Zone No 40, City of Fort Worth, Texas (Zone) is located between
Interstate Highway 35 and Old Denton Road in the Alliance area of north Fort Worth The exact
boundaries of the property are described in Exhibit A of the attached ordinance AT&T Wireless
Services is considering this site for an expansion and renovation A Tax Abatement Application has
been submitted for its proposed development.
This public hearing is required by the Texas Property Redevelopment and Tax Abatement Act (the Act)
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 #o 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
City of Fort Worth, Texas
Mayor and Council Communication
DATE
2/19/02 REFERENCE NUMBER
G-13529 LOG NAME
09ZONE40 PAGE
2 of 2
SUBJECT .PUBLIC HEARING AND ORDINANCE DESIGNATING TAX ABATEMENT
REINVESTMENT ZONE NO 40, CITY OF FORT WORTH, TEXAS
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that adoption of the attached ordinance does not require the expenditure
of City funds
MG n
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
Mike Groomer 6140
Originating Department Head:
Tom Higgins 6192 (from) APPROVED 02/19/02
ORD.# 14975
Additional Information Contact:
Ardina Washington 8003