73.1 F
Fort Worth
Sunday, September 20, 2020
- Advertisements -
Government Council Report: New life for Berry Street Theater?

Council Report: New life for Berry Street Theater?

Other News

Exxon’s oil slick

Exxon Mobil is slashing its capital spending budget for 2020 by 30% due to weak demand caused by the COVID-19 pandemic and a market...

Folk music’s Mark Twain: 7 Essential tracks from John Prine,

NEW YORK (AP) — Some people, the songs just come out of them. For nearly half a century, they tumbled out of John Prine...

Tarrant County records another COVID-19 death

Tarrant County Public Health (TCPH) on Wednesday, April 8 reported that a resident of Euless has died as the result of the COVID-19 virus....

Tradition stymied: A year unlike any since WWII for Augusta

The Masters is so intertwined with Augusta, they added an extra day to spring break.You see, the first full week of April isn't just...

New life for Berry Street Theater

The long-shuttered Berry Street Theater may soon have new life.

The Fort Worth City Council on Nov. 19 authorized execution of a five-year tax abatement for the rehabilitation of the Berry Street Theater for use as an event center with almost 10,000 square feet. The owner of the property, Berry Theatre LLC, at 3033 Hemphill Street has announced plans to invest at least $1.8 million in the rehabilitation project.

The Hemphill/Berry Urban Village is one of the 13 original villages identified by the Commercial Corridors Task Force in 2002.

The decision is in accordance with the Neighborhood Empowerment Zone Tax Abatement Policy and Basic Incentives. The property is located within the South Hemphill Heights neighborhood and Neighborhood Empowerment Zone Area Six.

Incentives includes a five-year municipal property tax abatement on the increased value of improvements. Upon execution of the agreement, the total assessed value of the improvements used for calculating municipal property tax will be frozen for a

period of five years starting January 2021 at the estimated pre-improvement value of $148,050.

“The Berry Theater has long been envisioned as an important anchor to the Berry Hemphill Urban Village. There has been concern over the years that without historic protection this theater might not survive,” said District 9 Councilwoman Ann Zadeh, in whose district the theater sits. “There is great excitement that reinvestment in this theater from our past is proposed by the current owner. The use of benefits offered by the Neighborhood Empowerment Zone (NEZ) provide an excellent tool to support this proposal and desired outcome of a plan long in the making.”

The municipal property tax on the improved value of the project after completion is estimated to be $14,031 per year for a total amount of $70,153 over the five-year period. However, this estimate may differ from the actual tax abatement value, which will be calculated based on the Tarrant Appraisal District appraised value of the property. – Rick Mauch

- Advertisements -
- Advertisements -

Latest News

Can Trump and McConnell get through the 4 steps to seat a Supreme Court justice in just 6 weeks?

Caren Morrison, Georgia State University United States Supreme Court...

Trump backs proposed deal to keep TikTok operating in US; Texas mentioned as HQ

By STAN CHOE AP Business WriterNEW YORK (AP) — President Donald Trump said Saturday he's given his "blessing" to a proposed deal...

Texas bars and distilleries rip Gov. Greg Abbott for leaving them out of “unacceptable” reopening plan

By Dan Rosenzweig-Ziff, The Texas Tribune Sept. 19, 2020 "Texas bars and distilleries rip...

Supreme Court justices remember Ginsburg

'I loved her to pieces,' retired Justice Souter says of RBGWASHINGTON (AP) — The remaining eight Supreme Court justices, and two former...

No vote on RBG successor until after election, Collins says

By DAVID SHARP Associated PressRepublican Sen. Susan Collins said Saturday there should be no vote on a successor to the late Supreme...