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Home My WebLink AboutOrdinance 2333 ORDINANCE NO. 2333 WHEREAS, the City of North Richland Hills City Council has determined that the economic well-being of the City of North Richland Hills is of primary concern, and; WHEREAS, Chapter 311, Texas Tax Code, known as the Texas Tax Increment Financing Act, provides that the City of North Richland Hills has the authority to create reinvestment zones within the City for the purpose of economic development, and; WHEREAS, on February 23, 1998, the City Of North Richland Hills City Council passed Resolution 98-10 1) finding that the condition of the 42.09 acre complex formerly known as Richland Plaza and the surrounding area meets the State's criteria as "substantially arresting or impairing the sound growth of the municipality creating the zone" and does "constitute an economic or social liability" and is a menace to the public health, safety, morals, or welfare in its present condition and use and 2) expressing the Council's intent to form a tax increment financing district, and; WHEREAS, on July 13,1998, the City of North Richland Hills City Council received a Preliminary Financial Plan & Preliminary Project Plan and called a Public Hearing for Monday, September 14, 1998, to consider the creation of "Reinvestment Zone Number 1, City Of North Richland Hills", and; WHEREAS, the City Of North Richland Hills delivered copies of the two preliminary plans and provided 60-days notice to each affected local government taxing entity and likewise formally presented the Preliminary Financial Plan & Preliminary Project Plan to the governing body of each entity, and; WHEREAS, on the 7th day of September, 1998, notice was published in the Fort Worth Star-Telegram stating that a public hearing would be conducted by the City of North Richland Hills City Council on the 14th day of September 1998, to consider the creation of a tax increment reinvestment zone herein described in Exhibit "A" and pictured in "Exhibit B" as a reinvestment zone, and; WHEREAS, it is the finding of the City Council of the City of North Richland Hills, following the public hearing, that the creation of a reinvestment zone for the above stated property would significantly enhance the value of all taxable real property in the proposed zone, attract major investment within the zone, contribute to the expansion of primary employment within the zone and will be of general benefit to the City of North Richland Hills, and; BE IT THEREFORE ORDAINED that the City Council of the City of North Richland Hills hereby finds that "Reinvestment Zone Number 1, City of North Richland Hills", or the property herein described in Exhibits "A" and "B", meets the requirements of Section 311.005 of the Texas Tax Increment Financing Act and therefore is designated to take effect on January 1, 1999, as specified in Section 311.005(a)(5) of the same Act. PAGE 2 BE IT ALSO ORDAINED that Reinvestment Zone Number 1, City of North Richland Hills will expire in 2019 or when bonds sold to fund Mackey Creek drainage improvements expire, whichever comes first, and; BE IT ALSO ORDAINED that the City Council of the City Of North Richland Hills hereby creates a tax increment fund for the aforementioned zone to hold tax revenues and retire bonds for said improvements within the zone, and; BE IT ALSO ORDAINED that the City Council of the City Of North Richland Hills hereby creates a board of directors for the zone as provided in Section 311.009, comprised of the following members: City Of North Richland Hills - five (5) members, Birdville Independent School District - one (1) member, Tarrant County - one (1) member, Tarrant County Hospital District - one (1) member and Tarrant County Junior College - one (1) member. Passed in open session of the City Council this 14th day of September, 1998. (JU Charles Scoma, Ma r City of North Richland Hills, Texas ATTEST: @~6/æ~ Patricia Hutson, City Secretary AP\ROVE AS T~;X Mar y leder, . ector of Economic Development D AS TO FORM & LEGALITY .. 7ji;;~ R x McE tire, City Attorney EXHIBIT A REINVESTMENT ZONE NUMBER 1, CITY OF NORTH RICHLAND HILLS Metes & Bounds Description BEGINNING at a point being the southeast corner of Lot 1, Block 17, Richland Hills West Addition and the most northerly corner of a 38.773 acre tract designated by the Tarrant Appraisal District as Tract 1 out of the M. Lynch Survey, Abstract No. 953 and in the west right-of-way (ROW) line of Billie Faye Drive; THENCE, south along the west ROW line of Billie Faye Drive approximately 200 feet to a point; THENCE, in a southeasterly direction leaving said west ROW line crossing Richland Plaza Drive a distance of approximately 65 feet to a point in the south ROW line of Richland Plaza Drive; THENCE, in an easterly direction following said south ROW line and also being the north property line of Tract A, A2, and A 1, Richland Plaza Addition approximately 1,650 feet to a point in the north ROW line of State Highway 26; THENCE, in a southeasterly direction approximately 170 feet across State Highway 26 to a point in the southeasterly ROW line of State Highway 26 also being the most northerly corner of Lot 1, Block D, Richland Hills Addition; THENCE, following said southeasterly ROW line in a southwesterly direction approximately 870 feet to a point, said point also being the most westerly corner of Lot 10, Block D, Richland Hills Addition; THENCE, in a northwesterly direction perpendicular to the State Highway 26 centerline approximately 240 feet to a point in the old northwesterly ROW line of State Highway 26 (formerly State Highway 121); THENCE, in a southwesterly direction with the old northwesterly ROW line of State Highway 26 approximately 1,212 feet to a point being on the city limits between North Richland Hills and Haltom City and being at the intersection of the said old S.H. 26 northwesterly ROW line and the north ROW line of Broadway Avenue; THENCE, in a westerly direction with the north ROW line of Broadway Avenue approximately 720 feet to a point being the southwest corner of Tract C, Richland Plaza Addition; 9/3/98 THENCE, in a northerly direction leaving the north ROW of Broadway Avenue a distance of approximately 50 feet to a point of intersection of the west property line of said Tract C and the south boundary line of the M. Lynch Survey, Abstract No. 953; THENCE, in a westerly direction along the south M. Lynch Survey boundary approximately 320 feet to a point being the corner of Tract B, Block 2, Diamond Oaks South Addition; THENCE, in a northwesterly direction along the east boundary of Block 2, Diamond Oaks South Addition approximately 1,985 feet to a point being the northeast corner of Lot 3R, Block 2, Diamond Oaks South Addition; THENCE, in an easterly direction across the north property line of a 38.773 acre tract denoted as Tract 1 out of the M. Lynch Survey, Abstract No. 953 approximately 1,810 feet to the POINT OF BEGINNING. 9/3/98 REINVESTMENT ZONE NUMBER 1, City Of North Richland Hills TIMETABLE FOR IMPLEMENTATION September 14 City Council Considers Ordinance No. 2333 Creating Reinvestment Zone Number 1 September 15 - September 30 Overlapping Jurisdictions vote to participate in the TI RZ September 28 City Council Appoints City's TIRZ Board Members October 5 City Convenes First Meeting of TIRZ Board; Board is asked to approve Preliminary Financing Plan and Preliminary Project Plan October 12 City Council is asked to ratify Preliminary Financing Plan and Project Plan October 13 - November 30 Overlapping Jurisdictions vote to contract with City pursuant to the Financing Plan and Project Plan I fð!¡g[t~~0ffÏ>-+-J// A' "FciJJI~:!CJ':~~/";' - ~_ \, ~ ---..gtD:~ ~ I tI· J ' / ~ '( ~..: " I '~o t~>? 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