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Home My WebLink AboutOrdinance 11300ORDINANCE N0. ~ ~.~ O AN ORDINANCE AMENDING THE CODE OF THE CITY OF FORT WORTH, TEXAS (1986), AS AMENDED, BY DESIGNATING LOT 1, BLOCK 1, OF MENASCO MANUFACTURING COMPANY ADDITION, TARRANT COUNTY, TEXAS, AS THE FORT WORTH TAX ABATEMENT REINVESTMENT ZONE NO. 15; PROVIDED THAT THIS ORDINANCE SHALL BE CUMULATIVE; PROVIDING A SEVERABILITY CLAUSE; PROVIDING FOR ENGROSSMENT AND ENROLLMENT; 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 property that is located in the reinvestment zone; and WHEREAS, a public hearing in a regularly scheduled meeting before the City Council was held at 10:00 a.m. on the 20th day of April, 1993, 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 15, entitled Tax Abatement Reinvest- ment Zone No. 15, which shall read as follows: DIVISION 15. TAX ABATEMENT REINVESTMENT ZONE N0. 15 Section 32-39.25. 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 public hearing on the designation of Tax Abatement Reinvestment Zone No. 15 has been properly called, held and conducted and that notices of such hearing have been pub- lished as required by law and delivered to -2- 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 creation of the reinvestment zone for commercial/industrial tax abatement, with boundaries as described in Exhibit "A", and the improvements sought are feasible and pract~_cal 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 cre- ation 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 employ- ment 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 32-39.26. 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 encom- passing the area described in Exhibit "A", attached hereto, and such reinvestment zone is hereby designated and shall hereafter be designated as Tax Abatement Reinvestment Zone No. 15, 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 32-39.27. Effective date. This division shall take effect on April 20, 1993. -3- 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 ordi- nances 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, sen- tence, 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. The City Secretary of the City of Fort Worth is hereby directed to engross and enroll this ordinance by copying the caption and effective date in the minutes of the City Council and by filing the ordinance in the ordinance records of the City. -4- SECTION 5. 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 : ~ '- Z O ' ~ 3 ADOPTED : ~ ~ ~'~ - 13 EFFECTIVE : ~- ZC ~ l 3 -5- +fASfER FILE. L' .,~ ACCOUNTING 2 Cam, of Fob ~o~~ Texas TRANSPORTATIONfPUBLIC////WORK$a/ • • UetER AOMINIj7~f/r or and Council Cannmunzcat~~n y EN G) REFEREN E NUMBER LOG NAME PA E ECONO 20/93 G-10133 02PHOD 1 of 2 SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING THE FORT WORTH TAX ABATEMENT REINVESTMENT ZONE NUMBER 15 RECOMMENDATION: It is recommended that the City Council: 1. Hold a public hearing concerning designation of the Fort Worth Tax Abatement Reinvestment Zone Number 15, and 2. Adopt the attached ordinance which designates the Fort Worth Tax Abatement Reinvestment Zone Number 15 pursuant to Texas Property Redevelopment and Tax Abatement Act, Tax Code, Sections 312.001 through 312.209., as amended. DISCUSSION: The proposed zone includes all. of Lot 1, Block 1 of the Menasco Manufacturing Company Addition. Thies 41.7 acre tract of land is located on the southeast corner of Highway 157 and Pipeline Road in northeast Fort Worth. Consideration of this issue as apart of today's agenda serves as a public hearing on the designation of a reinvestment zone as required by the Property Redevelopment and Tax Abatement Act. 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 7 days prior to this meeting as required by state law. The proposed area meets the criteria for the designation of a reinvestment zone, as required by the Tax. Code, in that area is reasonably likely, as 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 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 are feasible and practical 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 in accordance with state law heave expired. The designation of a reinvestment zone expires after 5 years and .may 6e renewed for periods no . to exceed 5 years. The Code requires a city to designate a zone prior to entering into. a tax abatement agreement . Printed. on recycled paper City of Fort ~o~th, Texas Mayor and Council Communication DATE 04/20/93 REFERENCE NUMBER G-10133 LOG NAME 02PHOD PA E 2 of 2 SUBJECT PUBLIC HEARING AND ORDINANCE DESIGNATING THE FORT WORTH REINVESTMENT ZONE NUMBER 15 TAX ABATEMENT FISCAL INFORMATION/CERTIFICATION No expenditure of City funds is required by this ordinance. BT:b Su itte or City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY Office by: to a ~ ~ ~ ~~~~~ Mike Groomer 6140 ~%' ° Or~g~nating Department Hea `' i~R ~~, 1993 rom , ~ Tom Higgins 6192 ~ ~*~-~ 'LB~ f tie t S For A ~ t ~ ona In ormat on ary o ecre City City of Fort Worth, Texas Contact Adopted Ordinance No. Paul Cain 8003 #~~ Printed on recycled paper