HomeMy WebLinkAboutOrdinance 12842ORDINANCE N0.
AN ORDINANCE AMENDING THE CODE OF THE CITY OF FORT
WORTH, TEXAS (1986), AS AMENDED, BY DESIGNATING CERTAIN
PROPERTY IN DENTON COUNTY AS FORT WORTH TAX ABATEMENT
REINVESTMENT ZONE N0. 26, 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 N0.
2142 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 10:00 a m. on the 28th day
of January, 1997, 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, notice of the public hearing was delivered to the
presiding officer of the governing body of each affected taxing
unit 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 25, entitled Tax Abatement
Reinvestment Zone No. 26, which shall read as follows:
DIVISION 25 TAX ABATEMENT REINVESTMENT ZONE NO. 26
Section 32-39.52 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
heard such evidence and testimony, has made the following
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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 26 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 53 Designation of Zone.
Pursuant to the Property Redevelopment and Tax
Abatement Act, V T C A., Tax Code, Sections 312.001 through
312.209, 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. 26, City of Fort Worth, Texas The designation of
this zone expires five (5) years after the effective date of
this division and may be renewed for periods not to exceed
five (5) years
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Section 32-39 54 Effective date.
This division shall take effect on January 28, 1997
SECTION 2
This ordinance shall 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:
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Assistant City Att ney
Date ~- a8' ~ 7
ADOPTED ~ ~ Q ~~
EFFECTIVE
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ATTACHMENT "A"
LEGAL DESCRIPTION 532 ACRE TRACT
Being a tract of land situated in the P.K. Matthews Survey, Abstract No 865, and in the James
Eads Survey, Abstract No 410, and in the Benjamin Matthews Survey, Abstract No 860, and in
the A. McDonald Survey, Abstract No 786, all in Denton, County, Texas, and being a portion of
those lands described in a Deed to Hillwood/1358, Ltd. As recorded in Volume 2512, Page 460,
of the Deed Records of Denton County, Texas, and being a portion of that tract of land described
in a Deed to Culbertson Enterprises, Inc. as recorded in Volume 1023, Page 934, of said Deed
Records, said tract being more particularly described by metes and bounds as follows.
COMMENCING at the northwest corner of that tract of land described in a Deed to Peterson
Farms, Inc., 10th tract, as recorded in Volume 559, Page 309 of said County Records, said point
being in the north line of said Hillwood/1358, Ltd. Tract, and in the north line of said Benjamin
Matthews Survey;
THENCE S88° 49' 49" E, 351.21 feet;
THENCE S89° 14' 44" E, 1799.52 feet to the POINT OF BEGINNING;
THENCE S89° 14' 44" E, 2972.90 feet;
THENCE SOS °35' 44" E, 142.75 feet;
THENCE S86° 58' 13" E, 502.59 feet;
THENCE S87° 11' S4" E, 683 72 feet;
THENCE NO1 ° 48' 07" E, 217.30 feet;
THENCE S89° 12' S4" E, 667 02 feet;
THENCE N15° 59' S8" E, 456.39 feet;
THENCE S68 ° 31' 04" E, 1045.20 feet to the Northwesterly right-of--way line of Interstate
Highway 35W,
Thence along said nght-of--way line the following courses
THENCE S30° 52' 02" W, 1700 10 feet;
THENCE S29° 45' S6" W, 1300.24 feet;
THENCE N89 ° 36' S8" W, 118.32 feet;
THENCE S00 ° 23' 02" W, 199 42 feet;
THENCE S30 ° 54' 25" W, 2157 55 feet to the beginning of a curve to the right;
THENCE with said curve to the nght, through a central angle of 03 ° 42' 10", having a radius of
2844 79 feet, the long chord of which beazs S41 ° 44' 37" W, 183 81 feet, an azc distance of
183 84 feet the beginning of a curve to the left;
THENCE with said curve to the left, through a central angle of 12 ° 36' 29", having a radius of
2884.97 feet, the long chord of which bears S 37° 17' 25" W, 633.57 feet an arc distance of
634.85 feet;
THENCE S30° 54' 25 " W, 181.57 feet to the northerly right-of--way line of Eagle Pazkway;
Thence along said northerly nght-of--way line the following courses.
THENCE S72° 40' 45" W, 121 80 feet;
THENCE N65 ° 19' 13" W, 109.20 feet to the beginning of curve to the left;
THENCE with said curve to the left, through a central angle of 15 ° 34' 36", having a radius of
1260 00 feet, the long chord of which beazs N 73° 06' 31" W 341 49 feet, an arc distance of
342.55 feet:
THENCE N80° 53' 49" W, 68 78 feet;
THENCE N00° 13' 33" W, 621.32 feet leaving said nght-of--way line along the east line of the
Peterson Home tract;
THENCE N89° 30' 33" W, 203 00 feet along the north line of said Peterson Home tract;
THENCE S00° 13' 33" E, 572.08 feet along the west line of said Peterson Home tract to the
northerly of said Eagle Parkway, the beginning of a curve to the right;
Thence along said northerly right-of--way line the following courses.
THENCE with said curve to the right, through a central angle of 10 ° 03' 06", having a radius of
1140 00 feet, the long chord of which beass N 65 ° 37' 13" W, 199 74 feet, an azc distance of
200 00 feet;
THENCE N59° OS' 45" w, 348 OS feet;
THENCE N59° 04' 19" W, 38 19 feet to the beginning of a curve to the right;
THENCE with said curve to the nght, through a central angle of 32 ° 16' 40", having a radius of
1140 00 feet, the long chord of which beazs N 42 ° 55' S7" W, 633 76 feet, an arc distance of
642.22 feet;
THENCE N26° 47' 37" W, 253.82 feet to the begmmng of a curve to the left;
THENCE with said curve to the left, through a central angle of 26° 54' S1", having a radius of
1260 00 feet, the long chord of which bears N 40° 15' 02" W, 586 45 feet, an arc distance of
591.88 feet;
THENCE N53 ° 42' 28" W, 1022.31 feet to the beginning of a curve to the left;
THENCE with said curve to the left, through a central angle of 10 ° 55' S0", having a radius of
1260 00 feet, the long chord of which bears N 59° 10' 23" W, 240 O1 feet, an azc distance of
240.38 feet;
THENCE N30° 00' S2" E, 113.23 feet leaving Eagle Parkway to the beginning of a curve to the
left;
THENCE with said curve to the left, through a central angle of 59° 41' OS", having a radius of
245 00 feet, the long chord of which bears N 00 ° 10' 20" E, 243.83 feet, an arc distance of
255.22 feet;
THENCE N29 ° 40' 13" W, 193.59 feet to the beginning of a curve to the right;
THENCE with said curve to the right, through a central angle of 15 ° 42' 27", having a radius of
205 00 feet, the long chord of which bears N 21 ° 48' S9" W, 56 02 feet, an azc distance of 56.20
feet;
THENCE S80° 06' S6" W, 67 63 feet;
THENCE N09 ° 53' 04" W, 1172.39 feet;
THENCE N76 ° 57' O 1 " E, 457.22 feet;
THENCE N51 ° 40' S9" E, 457.22 feet;
THENCE N28 ° 15' 10" E, 546.24 feet;
THENCE NOS ° 43' O1" W, 523 66 feet to the POINT OF BEGINNING and containing
23,173,919 square feet or 532.00 acres of land more or less.
City of Fort Worth Texas
Mayor and Council Communication
DATE REFERENCE NUMBER LOG NAME PAGE
01 /28/97 G-11742 022026 1 of 2
SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING THE FORT WORTH
REINVESTMENT ZONE NUMBER 26
RECOMMENDATION
It is recommended that the City Council
1 Hold a public hearing concerning the designation of Fort Worth Tax Abatement
Reinvestment Zone Number 26, and
2 Adopt the attached ordinance which designates Fort Worth Tax Abatement Reinvestment
Zone Number 26 pursuant to the Texas Property Redevelopment and Tax Abatement Act,
Tax Code, Sections 312 001 through 312 209 as amended
DISCUSSION
The proposed zone is located in far north Fort Worth at Alliance Center The exact boundaries
of the property are described in Exhibit A of the attached ordinance This site has been selected
by Intel Corporation for the construction and operation of a computer chip fabrication facility
Intel Corporation has submitted a tax abatement application for the facility that is to be operated
at this site
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 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 in addition, the
improvements sought in the zone would be a benefit to the property and 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 grid to the city after any
tax abatement agreements which may be entered into (in accordance with state law) have
expired
~ : ,,.,
The designation of a reinvestment zone expires after five years and may be renewed for periods
~.s , .
not to exceed five years
n
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Printed on Recycled Paper
City of Fort Worth, Texas
Mayor and Council Communication
DATE
01 /28/97 REFERENCE NUMBER
G-11742 LOG NAME
022026 PAGE
2 of 2
SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING THE FORT WORTH
REINVESTMENT ZONE NUMBER 26
FISCAL INFORMATION/CERTIFICATION
The Director of Fiscal Services certifies that the adoption of this ordinance does not require the
expenditure of City funds
BT m
Submitted for City Manager's FUND, ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
Mike Groomer 6140 Q
ED
Originating Department Head: APPROV
CITY C4UNCtL
Tom Higgins 6192 (from)
S p~ 28 199
For Additional Information ~~
Contact: /~ , ,
L[~-~ ~ t ~~
ldrY
Jay Chapa 8003 C-tY $~Crs
'iexas
f Fort North.
Printed on Recycled Paper Adopted Ordinance No, ~~~