The 1998 Annual Report was distributed to the members of the company at the annual meeting on January 13, 1999.

Who We Are

Fort Worth South, Inc. is a private, member funded, non-profit 501(c)(4) development company dedicated to the revitalization of the near Southside of Fort Worth. It was created in 1996 to implement the “Southside Development District Strategic Plan", which was completed and endorsed by the Fort Worth City Council as a community initiative in MAy 1995. The organization has a 44 member Board of Directors, an 11 member Executive Committee, and 132 members as of December 31, 1998.

Historic Southside, Inc., a 501(c)(3) non-profit corporation, is closely affiliated with the development company, and has a similar organizational purpose. It serves as the repository for donations of money and land, and is the link to the larger community through a community advisory committee. Historic Southside has a 17 member Board of Directors, nine of whom also serve as Directors of Fort Worth South. The President of Fort Worth South also serves as President of Historic Southside.

Our Purpose

Our purpose is to revitalize the near Southside of Fort Worth using all available techniques and resources.

The strategic goals for Fort Worth South were set out in the Strategic Plan for the Southside Medical District, which was created by the community under the guidance of Sasaki & Associates and endorsed by the Fort Worth City Council in May 1995. The process of developing the Plan involved a dynamic interaction between hundreds of businesses, residents, property owners, and employees in both the private and public sectors.

Where

The Development District is a 1,400 acre area of the near Southside of Fort Worth bounded on the north by the Union Pacific Railroad, on the east by Evans and Kentucky Avenues, on the south by Allen Street, and on the west by the Fort Worth & Western (Tarantula) Railroad and Forest Park Boulevard.

What We Do

• Support and advance the interests of property owners, investors, developers, and businesses in any way that supports the goal of revitalizing the Fort Worth Southside Development District.
  
  
• Enhance and implement the elements of the master redevelopment plan.
  
  
• Provide site assembly and umbrella developer services in the District.
  
  
• Raise the capital necessary to acquire, assemble and improve property required to implement major projects.
  
  
• Create and assist in administering Fort Worth Tax Increment Financing District #4 (TIF). The TIF was created in 1997, and is expected to generate $51 million (‘98 dollars) to be used in creating new public infrastructure over the 25 year life of the TIF District.
  
  
• Support the City in rigorously enforcing all building occupancy, signage, and maintenance codes affecting the appearance, stability and longevity of properties in the District, and work to modify the codes to more effectively reflect the comprehensive master plan of the City and the Development District.
  
  
• Create a business and investment pool to coordinate the resources of the city and diverse private interests in order to market the District. Use this resource pool to attract investors such as new businesses, those interested in preserving historic and architectural assets, homeowners, real estate developers, banks and other institutional investors, etc. Make available or encourage access to public and private incentives for investment.
  
  
• Develop a mechanism for cooperation and joint operation among the health care institutions within the District.
  
  
• Expand the role of the District institutions in medically related research. Encourage technology transfer to businesses located in the District, and attract entrepreneurial enterprises to the Fort Worth MedTech Business Incubator.
  

President's Letter to Members:

1998 was the company's second full year of operation. We've moved successfully through the transition from startup to becoming a credible force in support of revitalizing the neighborhoods of the near Southside.

The organization's challenge is quite extraordinary, especially when you appreciate the forces that impact the viability of this neighborhood. It is equally extraordinary to experience the passion people have for the initiative. It is this commitment, fueled by the arrival of new participates from the ranks of those who had grown discouraged but now think "maybe it is possible" that carried us through '98.

Economic times are good in Fort Worth. Developers and investors from all over are attracted to the opportunity. The Central Business District has blossomed and the developmental "home runs" have been hit. Investors and business owners are looking south for new opportunities and quickly realize the potential. The fact that FWS is available as a resource to facilitate growth and redevelopment is a further attraction. The result has been an increase in property values for the first time in many years, numerous new businesses, an increase in real estate transactions, development projects, and numerous inquiries from local and national investors.

1998 saw Fort Worth South accomplish the array of tactical goals detailed below, but we are especially pleased with the following projects:
More fully developing the master plan with ongoing input from the development committee;
Completing the project and finance plans for the Tax Increment Finance District;
Developing a draft document for urban design guideline which has been badly needed as a guide for new development; and
Becoming a credible information source and development consultant to many projects that will become visible in 1999.

Much of the credit belongs to the members of the Executive and Development Committees of Board of Directors, whose ongoing support and encouragement continues to advance the agenda. They are identified by name later in this report. Special acknowledgement also goes to Phillip Poole of Poole 2 who provides design and development guidance to the company, and brings a professional passion for appropriate urban redevelopment to the project.

The challenges for 1999, other than those identified below, are to generate new financial resources to sustain the company as it supports a more rapid pace of development in 1999.

Administration / Operations

1. GOAL - Financially sustain the organization. UNFAVORABLE
Actual revenues of $222,051 was well short of the budget of $334,000, due in large part to optimistic expectations about membership growth. Expenses of $227,041 were also well short of budget, but not at break even.

2. GOAL - Grow membership to 125 members by 12/98. SURPASSED
42 new firms joined the company, most in the Associate category. Eight firms did not renew their membership.
Sustaining ($5,000) General ($1,500) Associate ($250) Total
April 1996 11 0 1 12
December 1996 13 14 27 54
December 1997 18 24 55 97
December 1998 18 27 86 132

3. GOAL - Recreate the historical records of financial transactions made during the period of April 1996 through September '96 and integrate into the company's accounting system. COMPLETED

4. GOAL - Develop and implement a Conflict of Interest Policy for members serving on the Executive and Development Committees. COMPLETED
5. GOAL - Build and implement a marketing program to support the mission of FWS
Monthly "Report to Members and Stakeholders" fax Ongoing
News Coverage - Star Telegram, Business Press, Morning News, BOMA Ongoing
Prepare informational brochure for distribution to interested parties by 12/98 By 2-98
Design & print folder and insert materials on developmental categories by 12/98 By 2-98
Conduct a "Magnolia Street Festival" to attract community attention to the District COMPLETED
Create a master plan map in an updatable CAD format COMPLETED
Community informational meetings & speeches Ongoing

Development

1. GOAL - Create a Tax Increment Financing District COMPLETED 12/97
Convene first meeting of the Board of Directors COMPLETED 9/98
Develop Project & Finance Plans COMPLETED 12/98
COMPLETED 12/98

2. GOAL - Create a developmental framework - urban design guidelines. Draft completed 12/98

3. GOAL - Fund and implement a Land Bank No progress

4. GOAL - Identify 10% new greenspace integrated with bike paths 1998 Master Plan

5. GOAL - Encourage private hotel development On going

6. GOAL - Add 500 multifamily moderate and market rate residential units to District by 2000 On going

7. GOAL - Add 50 Single Family homes for purchase on infill sites within District by 2000 On going
Choice Homes/FWS designs completed in September 1997
Landmark Commission review of designs in 1999
Secure funding for land acquisition in 1999

8. GOAL - Create an Urban Village at the center of the District In process
Site identified, under contract, working with developer

9. GOAL - Encourage Tech Park development area east of South Main Street Postponed
Design scenario completed with help of Komatsu Architecture - Completed
Design development conference - Postponed

10. GOAL - Attract new commercial activity to District Ongoing
ABC Flag, Fresnel Technologies, Hahnfeld & Associates, Fort Worth National Bank,
EIS Audio Visual, Creative Type& Graphics, St. Joseph Gardens, Choice Homes, etc.

11. GOAL - Create a private medically oriented business incubator COMPLETED 2/98 Fort Worth MedTech Business Incubator staff hired & operational 2/98
Will office at FWS during startup; considering new space on James Guinn Campus

12. GOAL - Support the creation of an Empowerment Zone COMPLETED 10/98

13. GOAL - Encourage creation of new 250 child care facility Ongoing

Transportation

1. GOAL - Support design/construction of underpasses at Henderson, Jennings, South Main, Ongoing
Hemphill, Vickery Boulevard, West Rosedale, T Park & Ride at Vickery
& Lancaster Boulevard
2. GOAL - Obtain public approval for street closure & ROW valuation policy changes Ongoing
Draft policy delivered to City Manager after much preliminary work 10/98

3. GOAL - Promote concept of extension of Trinity Express to FW&W railroad Ongoing

Neighborhood

1. GOAL - Reduce crime by dealing with known problem areas Ongoing

2. GOAL - Develop submission to City's Comprehensive Master Plan Ongoing

3. GOAL - Support rezoning of east side of 8th Avenue from Industrial to Commercial COMPLETE 9/98

4. GOAL - Support to adjacent revitalization initiatives Inadequate resources
Financial Statements

1998 Project Review



1999 Project Preview



Financial Statements

Income Statements	Revenue Summary by Customer	Expense Summary by Vendor

Officers, Board of Directors, & Members

Officers, Board of Directors, & 1999 Meeting Schedule	Membership Roster