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Home My WebLink AboutOrdinance 11919ORDINANCE 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. 20; 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. 1401 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 by resolution the requirements 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; ~.r and WHEREAS, a public hearing in a regularly scheduled meeting before the City Council was opened at 10:00 a.m. on the 11th day of April, 1995, 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 creation 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 20, entitled Tax Abatement Reinvestment Zone No. 20, which shall read as follows: DIVISION 20. TAX ABATEMENT REINVESTMENT ZONE NO. 20 Section 32-39.40 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. 20 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 -2- (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 creation 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 creation 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 32-39.41 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 creates a reinvestment zone for commercial/industrial tax abatement encompassing the area in Exhibit "A", attached hereto, and such reinvestment zone is hereby designated and shall hereafter be designated as Tax Abatement Reinvestment Zone No. 20, 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 32-39.42 Effective date. This division shall take effect on April 11, 1995. 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 -3- 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: City Attorney Date : ~ I ~ ~ ADOPTED • U-1 ~ 7Jr/ EFFECTIVE• '7_ l~' ~-S -4- EXHIBIT A Fort Worth Tax Abatement Reinvestment Zone No 20 contains 12.741 acres of land and is more accurately described as Block 1, Lots C, C1, and C2 of the Sante Fe Industrial Addition. City of Fort Worth, Texas Mayor and Council Communication DATE REFERENCE NUMBER LOG NAME PAGE 04/1 1 /95 G11046 02ZONE20 1 of 2 SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING THE FORT WORTH REINVESTMENT ZONE NUMBER TWENTY RECOMMENDATION It is recommended that the City Council 1 Hold a public hearing concerning the designation of Fort Worth Tax Abatement Reinvestment Zone Number 20, and 2 Adopt the attached ordinance which designates the Fort Worth Tax Abatement Reinvestment Zone Number 20 pursuant to the Texas Property Redevelopment and Tax Abatement Act, Tax Code, Sections 312 01 through 312 209 as amended DISCUSSION The proposed zone includes a single parcel of property located at 2900 W Seminary (the former S&H building) which is under the ownership of Seminary West Limited Partnership The exact boundaries of the property are more fully described by metes and bounds in Exhibit A of the attached ordinance This property will serve as the international headquarters for Encon Industries, Inc Consideration of this issue as part of today's agenda serves as a public hearing on the designation of this reinvestment zone as required by the Texas Property Redevelopment and Tax Abatement Act As required by state law, notice of this public hearing was published in the newspaper and delivered to the presiding officer of the governing body of each affected taxing unit at least seven days prior to this meeting The proposed area meets the criteria for the designation of a reinvestment zone, as required by the Tax Code, 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 In addition, 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 Worth, Texas Mayor and Council Communication DATE 04/1 1 /95 REFERENCE NUMBER G-11046 LOG NAME 0220NE20 PAGE 2 of 2 SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING THE FORT WORTH REINVESTMENT ZONE NUMBER TWENTY Prior to entering into a tax abatement agreement on property outside the boundaries of a state enterprise zone, the Code requires a municipality to designate a reinvestment zone FISCAL INFORMATION/CERTIFICATION The Director of Fiscal Services certifies that the adoption of this ordnance does not require the expenditure of City funds BT w Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY Office by: (to) APPR~4~ED Originating Department Head: ~~T~ ~~~~~~~ (from) ~~~ ~ ~ Z~~ For Additional Information l~.~.~ f t3trm Contact: ~ City Sc~raSmry o City of Fort North,?eRaB •=«~ Printed on recycled paper