HomeMy WebLinkAboutOrdinance 12621ORDINANCE NO. /~~(~~
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. 23; 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 residential 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.
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, residential 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 13th day of
August, 1996, 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 23, entitled Tax Abatement Reinvestment
Zone No. 23, which shall read as follows:
DIVISION 23. TAX ABATEMENT REINVESTMENT ZONE NO. 23
Section 32-32.49 Findings and Determinations.
The facts and recitations cont.
this ordinance are hereby found and
correct. The City, after conducting
heard such evidence and testimony,
findings and determinations based
evidence presented to it:
pined in the preamble of
declared to be true and
such hearings and having
has made the following
on the testimony and
(a) That a required hearing on the designation of Tax
Abatement Reinvestment Zone No. 23 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
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(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
residential 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 32-39.50 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 residential tax
abatement encompassing the area in Exhibit "A", attached
hereto, and such reinvestment zone shall hereafter be
designated as Tax Abatement Reinvestment Zone No. 23, 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.
Section 32-39.51 Effective date.
This division shall take effect on August 13, 1996.
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
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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.
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:
ity Attorney •
e r
Date • O -~ ~' ~ 96
ADOPTED : ~-~ ,~ -
EFFECTIVE:
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EXHIBIT "A"
LEGAL DESCRIPTION:
REINVESTMENT ZONE #23
From the Jennings West Addition, Block 16 (Tracts lA, 2A, 3A, 6, 7, $, 9), Block 17
(Tracts 1 & 2), and Block 24, from the Rector Addition, Block 5 (Tracts 1, 2, 3, 4, 5, 6,
B); from the J.P Smith Addition, Block 3, Block 4R (Lots 1 & 2), Block 9 (Tract SA,
6A, 7A, 7B), from the Finley Addition, Tracts A, B, C, D, E, F, G, H, I, J, and K, from
the Robinson Addition, Lot 7, and from the Conner Addition, lA and SA.
The proposed zone will also include the following street vacations. Lake Street (17,790
square feet, a length of 296.5 feet between West Seventh St. and West Tenth St. and the
60 foot right-of--way), Lexington Street (17,790 square feet, a length of 296.5 feet
between West Seventh St. and West Tenth St. and the 60 foot right-of--way), West Second
Street (11,550 square feet, extension length of 213 feet west of Henderson St. and
variable right-of--way); and a proposed vacation of West Second Street (17,867 square
feet, extension length of +!- 327 feet north of West Fifth and 60 foot right-of--way).
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JULY 31, 1996
TAX ABATEMEI~TT
PROPERTY
EXHIBIT
City of Fort Worth, Texas
Mayor and Council Communication
DATE REFERENCE NUMBER LOG NAME PAGE
08/13/96 G-11561 02PHZ23 1 of 2
SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING THE FORT WORTH
REINVESTMENT ZONE NUMBER 23
RECOMMENDATION
It is recommended that the City Council
Hold a public hearing concerning the designation of Fort Worth Tax Abatement
Reinvestment Zone Number 23, and
2 Adopt the attached ordinance which designates Fort Worth Tax Abatement Reinvestment
Zone Number 23 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 downtown Fort Worth west of Henderson along 7th Street The
exact boundaries of the property are described in Exhibit A of the attached ordinance This site
has been selected by Phoenix Property Company fora 358 unit market rate apartment complex
Phoenix has submitted a tax abatement application for this project
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
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 and 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
not to exceed five years
Printed on Recycled Paper
City of Fort Wordy Texas
Mayor and Council Communication
DAT$
08/13/96 RBF13R?SNCS NUMBER
G-11561 LOG NAMB
02PHZ23 PAGE
2 of 2
suBJgcT PUBLIC HEARING AND ORDINANCE DESIGNATING THE FORT WORTH
REINVESTMENT ZONE NUMBER 23
FISCAL INFORMATION/CERTIFICATION
The Director of Fiscal Services certifies that the adoption of this ordinance does not require the
expenditure of City funds
BT•f
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT' CITY SECRETARY
Office by: (to)
AP
Mike Groomer 6140 PROVED
Originating Department Head: CITY COUNCIL
Tom Higgins 6192 (from) ~U~ ~~ 1996
For Additional Information ~.~
~
~
Contact: ~
~~ ~
~~~~ ~~
Paul Cain 8003
1~ Printed on Recycled Paper /~~, ~ ~~