HomeMy WebLinkAboutOrdinance 14296ORDINANCE N0. ~' 4~z l6
AN ORDINANCE AMENDING THE CODE OF THE CITY OF FORT
WORTH, TEXAS (1986), AS AMENDED, BY DESIGNATING CERTAIN
PROPERTY IN TARRANT COUNTY AS FORT WORTH TAX ABATEMENT
REINVESTMENT ZONE NO 36, PROVIDING THAT THIS ORDINANCE
SHALL BE CUMULATIVE, PROVIDING A SEVERABILITY CLAUSE;
AND PROVIDING FOR AN EFFECTIVE DATE
WHEREAS, the City Council of the City of Fort Worth, Texas
("City"), desires to promote the development or redevelopment of a
certain contiguous geographic area within its jurisdiction by the
creation of a reinvestment zone. for commercial/industrial tax
abatement, as authorized by the Property Redevelopment and Tax
Abatement Act, V T C A Tax Code, Chapter 312, as amended, and
WHEREAS, the City Council has elected by City Resolution No
2617 to become eligible to participate in tax abatement; and
WHEREAS, the Property Redevelopment and Tax Abatement Act
further provides that property within a reinvestment zone may be
eligible for, inter alia, commercial/industrial tax abatement,
subject to the governing body of the municipality establishing
guidelines and criteria for such eligibility and entering into a
written tax abatement agreement with the owner of taxable real
and/or personal property that is located in the reinvestment zone,
and
WHEREAS, a public hearing in a regularly scheduled meeting
before the City Council was opened at 7 00 p m on the 8th day of
August, 2000, such date being at least seven (7) days after the
date of publication of the notice of such public hearing as
required by the Tax Code, and
WHEREAS, written notice of the public hearing was delivered
to the presiding officer of the governing body of each affected
taxing unit (that includes in its boundaries the real property
that is to be included in the proposed reinvestment zone) at least
seven (7) days before the date of the public hearing, and
WHEREAS, the City, at such hearing, invited all interested
persons or their representatives to appear and speak for or
against the designation of the proposed reinvestment zone, the
boundaries of the proposed reinvestment zone, whether all or part
of the territory described in this ordinance should be included in
such proposed reinvestment zone, and the concept of tax abatement;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS
SECTION 1
That the Code of the City of Fort Worth, Texas (1986), as
amended, is hereby amended by adding to Chapter 32, Taxation,
Article III, a new Division 36, entitled Tax Abatement
Reinvestment Zone No 36, which shall read as follows
DIVISION 36 TAX ABATEMENT REINVESTMENT ZONE NO 36
Section 32-39 91 Findings and Determinations
The facts and recitations contained in the preamble of
this ordinance are hereby found and declared to be true and
correct The City, after conducting such hearings and having
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heard such evidence and testimony, has made the following
findings and determinations based on the testimony and
evidence presented to it
(a) That a required hearing on the designation of Tax
Abatement Reinvestment Zone No 36 has been
properly called, held and conducted and that
notices of such hearing have been published as
required by law and delivered to all taxing units
overlapping the territory inside the proposed
reinvestment zone; and
(b) That the boundaries of the reinvestment zone shall
be the boundaries as described in Exhibit "A",
which is attached hereto and made a part hereof,
and
(c) That the designation of the reinvestment zone for
commercial/industrial tax abatement, with
boundaries as described in Exhibit "A", and the
improvements sought are feasible and practical and
will be a benefit to the land included in the zone
and to the City after the expiration of any Tax
Abatement Agreement entered into under V T C A ,
Tax Code, Section 312 204; and
(d) That the reinvestment zone as described in Exhibit
"A" meets the criteria for the designation of a
reinvestment zone as set forth in V T C A Tax
Code, Section 312 202, as amended, in that it 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
Section 32-39 92 Designation of Zone
Pursuant to the Property Redevelopment and Tax
Abatement Act, V T C A Tax Code, Chapter 312, the City
hereby designates a reinvestment zone for commercial/
industrial tax abatement encompassing the area in Exhibit
"A", attached hereto, and such reinvestment zone shall
hereafter be designated as Tax Abatement Reinvestment Zone
No 36, City of Fort Worth, Texas. The designation of this
zone expires five (5) years after the effective date of this
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division and may be renewed for periods not to exceed five
(5 ) years
Section 32-39 93 Effective date
This division shall take effect on August 8, 2000
SECTION 2
This ordinance sh-all be cumulative of all provisions of
ordinances and of the Code of the City of Fort Worth, Texas
(1986), as amended, except where the provisions of this ordinance
are in direct conflict with the provisions of such ordinances and
such Code, in which event conflicting provisions of such
ordinances and such Code are hereby repealed
SECTION 3
It is hereby declared to be the intention of the City Council
that the sections, paragraphs, sentences,. clauses and phrases of
this ordinance are severable, and, if any phrase, clause,
sentence, paragraph or section of this ordinance shall be declared
unconstitutional by the valid judgment or decree of any court of
competent jurisdiction, such unconstitutionality shall not affect
any of the remaining phrases, clauses, sentences, paragraphs and
sections of this ordinance, since the same would have been enacted
by the City Council without the incorporation in this ordinance of
any such unconstitutional phrase, clause, sentence, paragraph or
section
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SECTION 4
This ordinance shall take effect and be in full force and
effect from and after its passage, and it is so ordained.
APPROVED AS TO FORM AND LEGALITY
Assistant C' Attorney
Date ~'22~11'D G'l2 f196
ADOPTED ~ ~~ S-OO
EFFECTIVE ~/ "~5 ! d
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City of Fort Worth, Texas
~~oe and Council C,ommunicAtian
DATE REFERENCE NUMBER LOG NAME PAGE
8/15/00 G-12986 02COTTON 1 of 2
SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING THE FORT WORTH TAX
ABATEMENT REINVESTMENT ZONE NUMBER 36
RECOMMENDATION
It is recommended that the City Council
1 Hold a public hearing concerning the designation of Fort Worth Tax Abatement Reinvestment Zone
Number 36, and
2 Adopt the attached ordinance which designates Fort Worth Tax Abatement Reinvestment Zone
Number 36 pursuant to the Texas Property Redevelopment and Tax Abatement Act, Tax Code,
Chapter 312
DISCUSSION
The proposed Reinvestment Zone Number 36 is located in downtown Fort Worth The exact
boundaries of the property are described in Exhibit A of the attached ordinance Cotton Depot, LLC is
considering this site for amixed-use office and housing development. Cotton Depot, LLC has
submitted a Tax Abatement Application 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 Commercial Recorder 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 proposed area meets the criteria for the designation of 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, practicable 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 designation of a reinvestment zone expires after five years and may be renewed for periods not to
exceed five years
City of Fort Worth, Texas
M,~A~o~ and Council CommunicAtian
DATE
8/15/00 REFERENCE NUMBER
G-12986 LOG NAME
02COTTON PAGE
2 of 2
SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING THE
ABATEMENT REINVESTMENT ZONE NUMBER 36 FORT WORTH TAX
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that the adoption of this ordinance does not require the expenditure of
City funds
MG k
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
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Mike Groomer 6140 ~~~ 1 CQUN~~L~
Originating Department Head:
AUG 15 2000
Tom Higgins 6192 (from)
y
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Additional Information Contact: d;itq Secrrrtar~g of the
~ilty Ol~ 1'071 WOrtll~ ~`i P,%8a
Ardina Washington 8003
Adopted Ord-nar~G~ (~~,~ y.Z 96
Exhibit A
Legal Description for Reinvestment Zone Number 36
REMAINING "H" ZONING CLASSIFICATION
BEING a 4.560 acre tract of land in the R. Briggs Survey, Abstract No. 116
situated in the City of Fort Worth, Tarrant County, Texas and being a portion of
Block 1 of the NBC Warehouse Site (Corrected Plat), an addition to the City of
Fort Worth as recorded in Volume 388-136, Page 32 of the Plat records of
Tarrant County, Texas and being more particularly described as follow:
COMMENCING at a 1/2" iron pin found at the southwest corner of said Block 1,
NBC Warehouse Site, said point being on the northern right-of-way line of State
Highway Spur No. 280 (right-of-way varies) and the east line of the Santa Fe
Railroad; THENCE N62°05'09"E along the northern right-of-way line of said State
highway Spur No. 280, 229.13 feet to the POINT OF BEGINNING;
THENCE N29°50'53"W, 188.21 feet to a 5/8" iron pin found;
THENCE N60°10'41"E, 2.17 feet to a 5/8" iron pin found;
THENCE N29°29'21"E, 2.57 feet to an "x" found cut in concrete;
THENCE N60°30'39"E, 814.74 feet to a 5/8" iron pin found;
THENCE N29°56'16"W, 7.51 feet to an "x" found cut in concrete;
THENCE N60°09'07"E, 233.63 feet to a 5/8" iron pin found on the western right-
of-way line of the Fort Worth & Denver Railroad (ROW Varies);
THENCE S02°43'00"w along the western right-of-way line of said Fort Worth and
Denver Railroad, 198.45 feet to an "x" found cut on a boulder;
THENCE S13°53'43"E along the western right-of-way line of said Fort Worth and
Denver Railroad, 165.64 feet to a 1/2" iron pin found on the northern right-of-
way line of said State Highway Spur No. 280;
THENCE N89°14'57"W along the northern right-of-way line of said State Highway
Spur No. 280, 197.48 feet to a 1/2" iron pin found;
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Page 1 of2 ___', L'i , g:V.li'
THENCE S71°17'53"W along the northern right-of-way line of said State Highway
Spur No. 280, 246.87 feet to a 1/2" iron pin found;
THENCE S63°47'19" along the northern right-of-way line of said State Highway
Spur No. 280, 108.65 feet to a 1/2" iron pin found;
THENCE S58°29'37"W along the northern right-of-way line of said State Highway
Spur No. 280, 235.10 feet to a 3/4" iron pin found;
THENCE S51°38'13"W along the northern right-of-way line of said State Highway
Spur No. 280, 80.89 feet to a 3/4" iron pin found;
THENCE S62°05'09"W along the northern right-of-way line of said State Highway
Spur No. 280, 62.65 feet to the POINT OF THE BEGINNING and containing 4.560
acres of land, more or less.
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