On July 9, 2018, representatives of the property owners Stream Realty Acquisition, LLC submitted an application for full-purpose annexation. The 76.713 acres is situated in Tarrant County within the City of Fort Worth extraterritorial jurisdiction, north and along Highway 114, west of I-35 and east of FM 156, see map exhibit A. The proposed annexation area is currently mostly vacant land with one gas pad site. The property is proposed for industrial type development.
City Plan Commission voted, on August 22, 2018 to approve the recommendation to the City Council for the full-purpose annexation of case AX-18-004. This proposed owner-initiated annexation has one companion case. The related zoning case (ZC-18-134) was heard by the Zoning Commission on August 8, 2018 and the commission voted to recommend approval of "K" Heavy Industrial zoning by City Council.
The proposed uses were considered while assessing the financial impact to the General Fund. The city tax revenue is expected to have a positive fiscal impact over the next 10 years after the proposed development is built. Based on the operating costs projected from the Police, Code Compliance and Transportation and Public Works Departments, the fiscal impact shows a slightly negative annual effect to the General Fund for the first year, but will have a positive impact thereafter. Therefore, due to the ability of the area to meet the City's criteria for full-purpose annexation, Staff recommends approval of the requested owner-initiated annexation, AX-18-004.
If annexed for full-purposes the area will become part of COUNCIL DISTRICT 7.
This M&C does not request approval of a contract with a business entity.