On May 21, 2013, (M&C G-17904) the City Council adopted Resolution No. 4210-05-2013 to designate the Woodhaven area as a Neighborhood Empowerment Zone (NEZ) for a period of 10 years and adopted Ordinance No. 20760-05-2013 which designated Fort Worth Neighborhood Empowerment Reinvestment Zone (FWNERZ) No. 10 for a period of five years.
According to the Texas Property Redevelopment and Tax Abatement Act, Tax Code, Chapter 312, the designation of a reinvestment zone for residential or commercial-industrial tax abatement expires five years after the date of the designation and may be renewed for periods not to exceed five years.
The current ordinance designating FWNERZ No. 10 expires on May 20, 2018, and must be renewed in order for the City of Fort Worth to be eligible to participate in the NEZ tax abatement authorized by Chapter 312. The City is currently reviewing the Neighborhood Empowerment Zone Program, but any changes to the program will be adopted in August or later. Not renewing FWNERZ No. 10 will make applicants ineligible for tax abatements within the Woodhaven NEZ area.
According to State Law, in order to adopt the attached ordinance for renewal, five members of the City Council must vote in favor of adoption. FWNERZ No. 10 and the Woodhaven NEZ are located in COUNCIL DISTRICT 4.
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