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Home My WebLink AboutOrdinance 14767ORDINANCE NO. AN ORDINANCE DESIGNATING A CERTAIN AREA IN THE CITY OF FORT WORTH AS "NEIGHBORHOOD EMPOWERMENT REINVESTMENT ZONE 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 Clty Council's adoption on February 29, 2000 of Resolution No 2617 (M&C G-12829), the Clty 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 m 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 m Exhibit "A" of this Ordinance (the "Zone") through the creation of a reinvestment zone for purposes of granting residential and commercial-industrial tax abatement, as authorized by and m accordance with Chapter 312 of the Code, and WHEREAS, on April 17, 2001, the City Council designated the Stop-Six Neighborhood as a Neighborhood Empowerment Zone by Resolution No 2721 to promote (1) the creation or rehabilitation of affordable housing In the zone (2) an Increase m economic development m the zone, and (3) an increase m the quality of social services, education or public safety provided to the residents of the zone, and ,,. Page 1 Ordinance Designating Tax Increment Reinvestment Zone Number Five, City of Fort Worth, Texas WHEREAS, on July 31, 2001, the City Council approved basic incentives for qualified properties or projects in all Neighborhood Empowerment Zones (M&C G- 13208R), including municipal property tax abatement, development fee waivers, impact fee waivers, and release of City hens, and WHEREAS, on September 11, 2001 the City Council held a public hearing regarding the creation of the Zone 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 in a newspaper of general circulation m the City on August 29, 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 hearing; and F. WHEREAS, m accordance with Sections 312.201(d)(2) and (e), notice of the Public Hearing 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 m rts 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 i FINDINGS. Page 2 Ordinance Designating Tax Increment Reinvestment Zone Number Five, City of Fort Worth, Texas That after reviewing all information before rt 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: 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 Tax Code. 1.2. The Zone meets the criteria for the designation of a reinvestment zone as set forth m V T C.A., Tax Code, Section 312.202, as amended, in that the area substantially arrests or impairs the sound growth of the Crty because of the presence of a substantial number of substandard and deteriorated structures and the predominance of inadequate streets. 1.3. Future improvements m the Zone will benefit the land included in 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. 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 residential and commercial- Page 3 , Ordinance Designating Tax Increment Reinvestment Zone Number Five, City of Fort Worth, Texas industrial tax abatement, as authorized by and In accordance with Chapter 312 of the Code. This Zone shall be known as "Neighborhood Empowerment Reinvestment Zone One, City of Fort Worth, Texas." The area within the Zone Is eligible for residential and commercial-industrial tax abatement pursuant to Resolution No 2617 and Resolution No 2721 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 Crty 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 mvahd, 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 judgment. Section 5. That this Ordinance shall take effect upon rts adoption. AND IT IS SO ORDAINED. Page 4 Ordinance Designating Tax Increment Reinvestment Zone Number Five, City of Fort Worth, Texas ADOPTED AND EFFECTIVE _~ APPROVED AS O FORM AND LEGALITY By• Cynthia Garcia Assistant City Attorney Date•_ ~~~f -~~ M&C ~J ~ ,3 ` ~~ Page 5 Ordinance Designating Tax Increment Reinvestment Zone Number Five, City of Fort Worth, Texas EXHIBIT "A" BOUNDARY DESCRIPTION OF ZONE EXHIBIT A Fort Worth Neighborhood Empowerment Reinvestment Zone No. 1 General Description The area to be designated as Fort Worth Neighborhood Empowerment Reinvestment Zone No 1 for tax abatement purposes contains 2.2 square miles of land and is described below On the North: Beginning at the intersection of Umon Pacific Railroad and Hughes Avenue Thence east on Umon Pacific Road to Tierney Road. Thence north on Tierney Road to Old Handley Road. Thence east on Old Handley Road to Umon Pacific Railroad. Thence east on Umon Pacific Railroad to Interstate 820 On the East: Beginning at the intersection of Interstate 820 and Umon Pacific Railroad. Thence south along Interstate 820 to Plaza Circle Thence west on Plaza Circle to Rosedale Street. Thence west on Rosedale Street to Stalcup Road. Thence south on Stalcup Road to Patton Court. Thence east on Patton Court to Maceo Lane Thence east on Maceo Lane to Ransom Terrace Thence south on Ransom Terrace to Truman Dnve Thence east on Truman Drive to Flemrnmgs Drive Thence south on Flemrrungs Drive to Rickenbacker Place Thence east on Rickenbacker Place to Lucas Place Thence north on Lucas Place to Prothrow Street. Thence east on Prothrow Street to Interstate 820 Thence south on Interstate 820 to Fitzhugh Avenue On the South: Beginning at the intersection of Interstate 820 and Fitzhugh Avenue Thence west on Fitzhugh Avenue to Stalcup Road. Thence south on Stalcup Road to Wildcat Branch. Thence west on Wildcat Branch to Dillard Street. Thence north on Dillard Street to Turner Street. Thence west on Turner Street to Wildcat Branch. Thence northwest on Wildcat Branch to Village Creek Boulevard. Thence south on Village Creek Boulevard to Berry Street. Thence west on Berry Street to the western boundary of Tract A-2, Eastwood Terrace Addition. Thence southwest on 1 of 2 the western boundary of Tract A-2, Eastwood Terrace Addition to the southern boundary of Tract A-2, Eastwood Terrace Addition. Thence east on the southern boundary of Tract A-2, Eastwood Terrace Addition to Village Creek Boulevard. Thence south on Village Creek Boulevard to Virgil Dnve Thence west on Virgil Drive to Lois Street. ,Thence southeast on Lois Street to Fresh Field Dnve Thence east on Fresh Field Dnve to Village Creek Boulevard. Thence south on Village Creek Boulevard to Eastland Street. Thence west on Eastland Street to Anglin Dnve Thence north on Anglin Dnve to Virgil Dnve Thence west on Virgil Dnve to Wiman Drive Thence northwest on Wiman Drive to Hughes Avenue On the West: Beginning at the intersection of Hughes Avenue and Wiman Drive Thence north on Hughes Avenue to Berry Street. Thence east on Berry Street to Edgewood Terrace Thence north on Edgewood Terrace to Ramey Avenue Thence east on Ramey Avenue to Wildcat Branch. Thence north on Wildcat Branch to the southern boundary of Block A, South Eastlawn Addition. Thence west on the southern boundary of Block A, South Eastlawn Addition to the western boundary of Block A, South Eastlawn Addition. Thence north on the western boundary of Block A, B and C, South Eastlawn Addition to Rosedale Street. Thence west on Rosedale Street to Hughes Avenue Thence north on Hughes Avenue to Union Pacific Railroad. The area bounded by Avenue G on the north, Liberty Street on the east, Calumet Street on the south, and Amanda Avenue on the west is not included m the Fort Worth Neighborhood Empowerment Reinvestment Zone No 1 2 of 2 C'aty of Fort Worth, T'exa~s M,~A~oe and Council eommunieAtian DATE REFERENCE NUMBER LOG NAME PAGE 9/11/01 G-13370 05NEZ 1 of 2 suB~ECT I PUBLIC HEARING AND ORDINANCE DESIGNATING THE FORT WORTH NEIGHBORHOOD EMPOWERMENT REINVESTMENT ZONE NO 1 RECOMMENDATION It is recommended that the City Council Authorize holding a public hearing concerning the designation of the Stop Six Neighborhood as the Fort Worth Neighborhood Empowerment Reinvestment Zone No 1, and 2. Adopt the attached ordinance which designates Fort Worth Neighborhood Empowerment Reinvestment Zone No 1 pursuant to the Texas Property Redevelopment and Tax Abatement Act, Tax Code, Chapter 312. DISCUSSION The proposed Neighborhood Empowerment Reinvestment Zone No 1 is located in the Stop Six Neighborhood Empowerment Zone The general boundaries of the property are described in Exhibit A of the attached ordinance. Chapter 378 .of the Texas Local Government Code allows municipalities to create Neighborhood Empowerment Zones (NEZ) One of the incentives a municipality can provide is an abatement of municipal property taxes for properties in the NEZ. The Stop Six NEZ is being designated as a reinvestment zone so that the City can enter into tax abatement agreements under the guidance set forth in the Tax Code 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 Act requires the property receiving abatement to be located in a reinvestment zone. The proposed area meets the criteria for the designation of a reinvestment zone, in that the area substantially arrests the sound growth of the City because of the presence of a substantial number of substandard and deteriorated structures and the predominance of inadequate streets Further, future improvements in the reinvestment zone would be a benefit to the land and the City for a period in excess of ten years following designation of the reinvestment zone The term of the proposed reinvestment zone will be five years from the date of adoption of the attached ordinance The City Council may renew the reinvestment zone for one or more terms of five years or less City of Fort Worth, Texas n-~Aya~ And Council Camn~un~cAt~ian DATE 9/11/01 REFERENCE NUMBER G-13370 LOG-NAME 05NEZ PAGE 2 of 2 SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING THE FORT WORTH NEIGHBORHOOD EMPOWERMENT REINVESTMENT ZONE NO 1 FISCAL INFORMATION/CERTIFICATION The Finance Director certifies that the adoption of this ordinance will have no material effect on City funds JP n Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY Office by: (to) P Joe Paniagua (Acting) 6140 ~~ .{~sl~ `~~~ ~ + Originating Department Head: E` `~~ ~ ~! 3~~~1~~ ~% ~i~ s ~ Jerome Walker 7537 (from) S E P ~ ~ ~`~~~ Additional Information Contact: ~ ~ ~ y,:am, ~ ~tY2R1.«i_~ G ~, r~~5~t.~ ~ ~~ r~ s Jerome Walker 7537 City ~t ss¢.:w?~L,:~°u„ ;~~:ra^,