HomeMy WebLinkAboutOrdinance 12622ORDINANCE NO . /~ Gj~{
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. 25; 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 extraterritorial
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 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, TEXA5:
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. 25, which shall read as follows:
DIVISION 25. TAR ABATEMENT REINVESTMENT ZONE NO. 25
Section 32-39.55 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
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. 25 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 reinvestment zone as described in Exhibit
"A" is in the extraterritorial jurisdiction of the
City of Fort Worth; and
(d) 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
(e) 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 32-39.56 Designation of Zone.
(a) 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. 25, 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.
(b) In the event the City enters a tax abatement
agreement with respect to property in Tax Abatement
Reinvestment Zone No. 25 while such property is in
the City's extraterritorial jurisdiction, and the
City later annexes the property, the agreement
shall apply to taxes of the City during the period
specified in the agreement.
Section 32-39.57 Effective date.
This division shall take effect on August 13, 1996.
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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.
SECTION 4.
This ordinance shall take effect and be in full force and
effect from and after its passage, and it is so ordained.
A ROVED AS 0 F D LEGALITY:
City Attorney
Date • ~, 2'
ADOPTED : O ° ~ ~~ -~ rO
EFFECTIVE:
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EXHIBIT "A"
Legal Description
LEGAL DESCRIPTION
100.000 ACRE TRACT
BEING a tract of land situated in the Greenbeny Overton Survey, Abstract No 972, Denton
County, Texas and being a portion of that tract of land as described by deed to Hillwood/822,
Ltd. and recorded in Volume 10839, Page 2231, County Records, Tarrant County, Texas, said
tract being more particularly described by metes and bounds as follows
COMMENCING at the northerly nght-of--way line of Intermodal Parkway (fonnerly Westport
Parkway) at its west terminus as recorded in Volume 11536, Page 1770, said County Records,
')i'HENCE EAST 1802 10 feet along the northerly right-of--way line of said Intermodal Parkway
to a 5/8 inch iron rod with cap stamped "Carter & Burgess" set, the POINT OF BEGINNING,
the beginning of a curve to the nght ,
THENCE 689 98 feet along the arc of said curve to the nght through a central angle of
03 ° 15'23 ", a radius of 12139 73 feet and a long chord of N O l ° 37'36"W, 689 89 feet to a 5/8
inch iron rod with cap stamped "Carter & Burgess" set,
THENCE N 00°00'06"E, 1323 95 feet to a 5/8 inch iron rod with cap stamped "Carter &
Burgess" set;
THENCE EAST, 2165 54 feet to a 5/8 inch iron rod with cap stamped "Carter & Burgess" set;
THENCE SOUTH, 2013 56 feet to a 5/8 inch iron rod with cap stamped "Carter & Burgess" set
in the northerly nght-of--way line of the aforementioned Intennodal Parkway;,
THENCE WEST, 2146 00 feet along said northerly nght-of--way line to the POINT OF
BEGINNING and containing 100 000 acres of land, more or less.
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City of Fort Worth, Texas
Mayor and Council Communication
RE
LOG NAME I PAGE
08/13/96 G-11562 02ZONE 1 of 2
SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING THE FORT WORTH
REINVESTMENT ZONE NUMBER 25
RECOMMENDATION
It is recommended that the City Council
1 Hold a public hearing concerning the designation of Fort Worth Tax Abatement
Reinvestment Zone Number 25, and
2 Adopt the attached ordinance which designates Fort Worth Tax Abatement Reinvestment
Zone Number 25 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 on property currently within the Extra Territorial Jurisdiction (ETJ)
of the City of Fort Worth Section 312 201(x) of the Tax Code grants municipalities the
authority to designate reinvestment zones within their ETJ The exact boundaries of the property
are described in Exhibit A of the attached ordinance
This site has tentatively been selected by JC Penney fora 900,000 square foot, S 142 million
warehouse distribution center JC Penney has submitted a tax abatement application for this
project Should a tax abatement agreement be approved for this project, the abatement will take
effect upon annexation of the property provided the annexation occurs during the period
specified by the agreement
This public hearing is required by the Texas Property Redevelopment and Tax Abatement Act (the
Act) Notice of this hearing was (11 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
Printed on Recyded Paper
cZty of Fort wordy texas
Mayor and Council Communication
DATS
08/13/96 R8F8RI3NC8 NilbffiLR
G-11562 LOG NAMB
02ZONE PAGL
2 of 2
3USJ>8CT PUBLIC HEARING AND ORDINANCE DESIGNATING THE FORT WORTH
REINVESTMENT ZONE NUMBER 25
The designation of a reinvestment zone expires after five years and may be renewed for periods
not to exceed five years
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)
Mike Groomer 6140 APPROVEQ
Originating Department Head: ~~~~ ~®~~~~
Tom Higgins 6192 (from) Q+~G 1~
For Additional Information
Contact: City.5ecretffiry of tha
Gity of Fort ~isith, Texas
Paul Cain 8003
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'~ Printed on Recyded Paper