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HomeMy WebLinkAboutOrdinance 14737ORDINANCE NO. `~~,~~ AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE CITY OF FORT WORTH AS "TAX ABATEMENT REINVESTMENT ZONE NUMBER THIRTY-EIGHT, 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 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 Crty 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 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 commercial- industrial tax abatement, as authorized by and m accordance with Chapter 312 of the Code, and WHEREAS, Meacham Rail 191 Limited Partnership, a Texas limited partnership ("Company"), owns or is under contract to purchase real property m the Zone and has applied for tax abatement from the Crty 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 Crty m general, and Page 1 Ordinance Designating Tax Abatement Reinvestment Zone Number Thirty-Eight, City of Fort Worth, Texas WHEREAS, on August 9, 2001 the Crty 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 Hearing was published m a newspaper of general circulation m the Crty on July 27, 2001, 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), 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 rt 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 Crty Council hereby makes the following findings of fact: Page 2 Ordinance Designating Tax Abatement Reinvestment Zone Number Thirty-Eight, City of Fort Worth, Texas 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. 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 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 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 Crty 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. 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 in accordance with Chapter 312 of the Code. This Zone shall be known as "Tax Abatement Reinvestment Zone Number Thirty-eight, City of Fort Page 3 Ordinance Designating Tax Abatement Reinvestment Zone Number Thirty-Eight, City of Fort Worth, Texas Worth, Texas." The area within the Zone is eligible for commercial-industrial tax abatement pursuant to Resolution No 2617 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 ~unsdiction, 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 rts adoption. AND IT IS SO ORDAINED. ADOPTED AND EFFECTIVE ~- y- j)~ Page 4 Ordinance Designating Tax Abatement Reinvestment Zone Number Thirty-Eight, City of Fort Worth, Texas APPROVED AS TO FORM AND LEGALITY By• Peter Vaky Assistant City Attorney Date _ ~'-~Q ~ Q / M&c G -- /,333 ~ ~". y -ol Page 5 Ordinance Designating Tax Abatement Reinvestment Zone Number Thirty-Eight, City of Fort Worth, Texas Exhibit A Legal Description for Tax Abatement Reinvestment Zone Number 38 STATE OF TEXAS COUNTY OF TARRANT Being a tract of land situated in the San Antonio & Mexican Gulf Railroad Company Survey, Abstract No 1464, City of Fort Worth, Tarrant County, Texas, being a portion of a tract of land (Tract I) as described in deed to Meacham Rail 191 Limited Partnership, as recorded in Volume 12819, Page 563 of the Deed Records, Tarrant County, Texas (D.R.T C T) also being a portion of a tract of land described in Quitclaim deed to Meacham Rail 191 Limited Partnership, as recorded in Volume 13156, Page 66 of the D.R.T C T , and being more particularly described by metes and bounds as follows BEGINNING at a found 1 mch iron rod at the Northwesterly corner of said Tract I and the Southwesterly corner of Lot 2, Block A Railhead Fort Worth Phase One Addition, per plat recorded m Cabinet A, Slide 4358, Plat Records, Tarrant County, Texas (P.R.T C T) and lying m the Easterly R.O W line of the C.R.I & G Railway Company, from which a found 5/8 inch iron rod with a cap stamped "Carter & Burgess", bears North 47 degrees 35 minutes 52 seconds West a distance of 0 30 feet, THENCE South 89 degrees 29 minutes 48 seconds East (Record South 89 degrees 29 minutes 13 seconds East) along the Northerly line of said Quitclaim and the Southerly line of said Lot 2 and Lot 3 of said Railhead Fort Worth Phase One Addition, a distance of 1449 68 feet to a set 1/2 mch iron rod with a cap stamped "Wier & Assoc ,Inc ", from which a found 1/2 inch iron rod bears North 89 degrees 29 minutes 48 seconds West a distance of 1 73 feet, and lying m the Westerly R.O W line of Gold Spike Drive (68' R.O W) as shown per plat of Meacham Boulevard R.O W Extension and Gold Spike Drive R.O W Extension Cabinet A, Slides 5688 & 5689, P.R.T C T, THENCE South 00 degrees 20 minutes 46 seconds West along the Westerly R.O W line of Gold Spike Drive, a distance of 871 33 feet to a set 1/2 inch iron rod with a cap stamped "Wier & Assoc ,Inc ", THENCE North 89 degrees 29 minutes 48 seconds West a distance of 1293 61 feet to a set 1/2 inch iron rod with a yellow plastic cap stamped "Wier & Assoc ,Inc ", lying Page 1 of 2 . in the Westerly boundary line of said 55 375 acre tract and being the beginning of a curve to the right with a radius of 5680 15 feet, THENCE along said curve to the right with a central angle of 07 degrees 48 minutes 10 seconds, a chord bearing of North 10 degrees 18 minutes 00 seconds West a distance of 772 96 feet, and an arc length of 773 56 feet to a found 1/2 inch iron rod, THENCE North 06 degrees 23 minutes 53 seconds West (Record North 06 degrees 22 minutes 47 seconds West), continuing along the Westerly line of said Tract 1 and the Easterly line of said Railroad R.O W , a distance of 112 89 feet (Record 112 96 feet) to the POINT OF BEGINNING and containing 27 661 Acres or 1,204,906 Square Feet of Land. Page 2 of 2 City of Fort Worth, Texas ~I~A~~r A~~ ~aalO1C'1l c~111111~1111CAt`Ia11 DATE REFERENCE NUMBER LOG NAME PAGE 8/9/01 ~-13335 02ZONE-38 1 of 2 SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING TAX ABATEMENT REINVESTMENT ZONE NO 38, CITY OF FORT WORTH. TEXAS RECOMMENDATION It is recommended that the City Council 1 Hold a public hearing concerning the designation Tax Abatement Reinvestment Zone No 38, City of Fort Worth, Texas, and 2. Adopt the attached ordinance which designates Tax Abatement Reinvestment Zone No 38, 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 38, City of Fort Worth, Texas (Zone), is located in north Fort Worth within the Central City and North Enterprise Zone The exact boundaries of the property are described in Exhibit A of the attached ordinance Meacham Rail 191 Limited Partnership and ConAgra Foods, Inc. are considering this site for the location of a distribution facility A tax abatement application has been submitted for the 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 a newspaper of general circulation at least seven days prior to this meeting 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 in the Zone and to the City for a period in excess of ten years following designation of the Zone The term of the proposed Zone will be five years from the date of adoption of the attached ordinance The City Council may renew the Zone for one or more terms of five years or less City of Fort Worth, Texas ~1-~A~ar un~l Caunc~l ca~i»un~cAt~un DATE 8/9/01 REFERENCE NUMBER G-13335 LOG NAME 02ZONE-38 PAGE 2 of 2 SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING REINVESTMENT ZONE NO 38, CITY OF FORT WORTH, TEXAS TAX ABATEMENT FISCAL INFORMATION/CERTIFICATION The Finance Director certifies that this action will have no material effect on City funds MG n Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY Office by: (to) APPROVED Mike Groomer 6140 CITY COUNCIL Originating Department Head: AUG 9 2001 Tom Higgins 6192 (from) ~i~ Additional Information Contact: f"s"° "" °"~`~ City Secretary of the City of Fort Worth, Texas Ardina Washington 8003 Adopted Ordirttinc~ ~s~.'~I'