M&C Review


COUNCIL ACTION:  Approved on 5/15/2018 - Ordinance No. 23223-05-2018

DATE: 5/15/2018 REFERENCE NO.: G-19286 LOG NAME: 19WOODNERZRENEW
CODE: G TYPE: NON-CONSENT PUBLIC HEARING: YES
SUBJECT:   Conduct Public Hearing and Adopt Ordinance Concerning Renewal of the Woodhaven Neighborhood Empowerment Reinvestment Zone No. 10 (COUNCIL DISTRICT 4)

RECOMMENDATION:

It is recommended that the City Council:

1. Hold a public hearing concerning the renewal of the Woodhaven area as Fort Worth Neighborhood Empowerment Reinvestment Zone No. 10; and

2. Adopt the attached ordinance which designates the renewal of Fort Worth Neighborhood Empowerment Reinvestment Zone No. 10, pursuant to the Texas Property Redevelopment and Tax Abatement Act, Tax Code, Chapter 312.

 
DISCUSSION:

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.

This M&C does not request approval of a contract with a business entity.

 
FISCAL INFORMATION/CERTIFICATION:

The Director of Finance certifies that this action will have no material effect on City funds.



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Submitted for City Manager's Office by:
Fernando Costa (6122)
Originating Department Head:
Aubrey Thagard (8187)
Additional Information Contact:
Sarah Odle (7316)

 
 
ATTACHMENTS
  Woodhaven NEZ.pdf
  Woodhaven Ordinance Renewing Zone 2018.doc