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Home My WebLink AboutContract 43390-A3 (2)CITY SECRMRY CONTRACT NO0 THIRD AMENDMENT TO CITY SECRETARY CONTRACT NO. 43390 WHEREAS the City of Fort Worth ("Seller") and JJF Properties, Ltd ("Purchaser') made and entered into City Secretary Contract No. 43390 (the "Contract") WHEREAS, Section 6(a) of the Contract provides for a 60 day Option Period; WHEREAS, City and Purchaser extended the Option Period by 14 days in the First Amendment to the Contract effective September 7, 2012; WHEREAS, the Survey and updated Title Commitment showed certain encroachments and an arch storm drain running under the building slab and more time is needed to resolve these issues; WHFREAS, City and Buyer extended the Option Period by an additional 14 days in the Second Amendment to the Contract effective September 21, 2012; WHEREAS, Section 3(b) of the Contract calls for Purchaser to obtain an updated survey of the Property and states that the legal description of the Propeity in the Survey will be used in all documents that require a legal description of the Property; WHFREAS, the Survey by J.B. Davies, Inc. dated September 26, 2012 shows a more complete legal description of the Property along with certain encroachments thereto; and WHEREAS, it is the mutual desire of Seller and Purchaser to extend the Option Period for an additional 14 days to resolve the encroachments to the Propeity and to amend the Contract to provide for an updated legal description of the Property as shown on the Survey. NOW, THEREFORE, Seller and Purchaser hereby agree as follows: I. a. The reference to "60 days" in Section 6(a) of the Contract is amended to read "102 days." b. As independent consideration of this extension, Purchaser will deliver $50.00 to Seller prior to execution of this amendment. The $50.00 is nonrefundable, and will not be applied to the Purchase Price at Closing THIRD AMENDMENT TO CSC NO. 43390 801 Vickery c. The first paragraph of the Contract's Recitals is amended to be and read as follows: "Seller is the owner of Lot 1 and the East one-half of Lot 6, Block 3, Jennings South Addition, an unrecorded addition, in the City of Fort Worth, Tarrant County, Texas and being more particularly described in Exhibit "A", attached hereto and incorporated herein for all purposes." d. Exhibit "A" attached to this Third Amendment is incorporated into the Contract for all purposes. d. This Third Amendment is effective as of October 5, 2012. II. All terms not defined herein have the meaning assigned to them in the Contract. All term and conditions of the Contract not amended herein remain unaffected and in full force and effect, are binding on the Parties and are hereby ratified by the Parties. SELLER: City Of Fort Worth By:aannee.41 ‘2.-----4 Fernando Costa, Assistant City Manager Ap A roved as to Legality and Form i f- '`�.1 AM iv, • otv, Assistant City At City Secret( M & C L-15363 Date: May 15, 2 j'�*oOOOOooU rail 1:51161 490 THIRD AMENDMENT TO CSC NO. 43390 801 Vickery _1 2 PO4: 3> IN 11 PURCHASER: JJE Properties, Ltd., a Texas limited partnership, By Property Company of Fort Worth, LLC, its General Partner, e President 2 EXHIBIT "A" BEING Lot 1 and the East one-half of Lot 6, Block 3, Jennings South Addition, an unrecorded addition in the City of Fort Worth, Tarrant County, Texas and being a part of a tract described in the Deed to the City of Fort Worth recorded in Volume 15162, Page 132 and Volume 15202, Page 210 of the Deed Records of Tarrant County, Texas (DRTC) and being all of the tract described in the Deed to G. D Lewis recorded in Volume 11620, Page 752DRTC, said tract being tied to the Texas Coordinate System, North Central Zone NAD83, bearings are grid, distances are horizontal ground measurements and said tract being more particularly described as follows: BEGINNING at a found 3/4 inch iron pin for the Northeast corner of the tract described herein and being at the Southwest intersection of West Vickery Boulevard and Lipscomb Street, from which a found .Y. cut in concrete bears N 1 degrees 40 minutes 37 seconds E, 9.21 ft., said Y. being incorrectly described as the Northeast corner of the said Lewis Tract as referenced in Volume 15162, Page 132 DRTC; THENCE S 1 degrees 40 minutes 37 seconds W, with the West right-of-way of Lipscomb Street, at 227.3 ft., a found reference .Y. cut in the concrete dock, in all 234.30 ft to a set 5/8 inch brazed iron pin (5/8BIP) being at the Southeast corner of the said Block 3 and being the Northwest intersection of Lipscomb Street and Jarvis Street from which a found capped iron pin marked WLA bears S 1 degrees 30 minutes 15 seconds W, 1.16 ft, said capped iron pin being found to incorrectly described as the Southeast corner of the Lewis Tract as referenced in Volume 15162, Page 132 DRTC; THENCE N 88 degrees 19 minutes 23 seconds W, with the North line of the said Jarvis Street, 100.00 ft to a set 5/8BIP; THENCE N 1 degrees 40 minutes 37 seconds E, with the line described in the Party Wall Agreement recorded in Volume 2252, Page 290 DRTC, 230.55 ft., to a point in the North wall of an existing building and being in the South line of the said West Vickery Blvd., from which a set 100d nail bears N 0 degrees 28 minutes 23 seconds W, 0.80 ft.; THENCE N 89 degrees 31 minutes 37 seconds E, with the South line of the said West Vickery Blvd., and being the North line of the said Lewis Deed recorded in Volume 11620, Page 752 DRTC, 100.07 ft to the place of beginning and containing 23,241 square feet of land. THIRD AMENDMENT TO CSC NO. 43390 3 801 Vickery M&C Review DATE: 5/15/2012 CODE• L COUNCIL ACTION: Approved on 5/15/2012 Page 1 of 2 Official site of the City of Fort Worth, Texas FORT WORT11 REFERENCE NO.: **L-15363 LOG NAME* 17801 WVICKERY TYPE• CONSENT PUBLIC NO HEARING: SUBJECT: Authorize Direct Sale of a Fee Simple Property Owned by the City of Fort Worth Located at 801 West Vickery Boulevard to JJE Properties, Ltd., in the Amount of $236 000.00 in Accordance with Section 272.001(b)(6) of the Texas Local Government Code (COUNCIL DISTRICT 8) RECOMMENDATION: It is recommended that the City Council: 1. Authonze the direct sale of a fee simple property owned by the City of Fort Worth located at 801 West Vickery Boulevard to JJE Properties, Ltd., in the amount of $236,000.00 in accordance with Section 272.001(b)(6) of the Texas Local Government Code; and 2. Authorize execution and recording of the appropriate instruments conveying the property to complete the sale. DISCUSSION: The property at 801 West Vickery Boulevard was acquired by the City of Fort Worth (M&C L-13115) for the Vickery Boulevard Project which was approved by City Council in November 1990 (M&C G- 8923) and revised in October 1996 (M&C G-11605). The property was the former site of the Shooter's Palace Building which was used as a gun range. On December 14 2004, (M&C G-14612) the City Council rescinded approval for the Vickery Boulevard Project and approved the sale of parcels purchased for the project. A written Intent to Purchase the property was received from JJE Properties, Ltd. The company plans to restore the 1925 structure and address the environmental issues on the property. The City of Fort Worth is authorized to sell fee owned property by Texas Local Government Code 272.001 (b)(6), which allows for the direct sale of property that is located in a reinvestment zone and that the municipality desires to have developed under a project plan adopted by the municipality for the zone. This property is located in the Tax Increment Reinvestment Zone Number 4 (TIF) and will be developed in accordance with the project plan for that TIF. The property was appraised on March 27, 2012 in the amount of $236,000.00. The City of Fort Worth advertised the Intent to Sell the property in the Fort Worth Star-Telearam on April 22, 2012, April 29, 2012, May 6, 2012 and May 13, 2012. The Planning and Development Department has reviewed the current zoning of this property and determined that the zoning classification of the property is compatible with respect to the existing land use, the existing land uses of the surrounding neighborhood and future land use designations indicated by the Comprehensive Plan. ADDRESS LEGAL PRICE ZONING 801 West Vickery Boulevard Lots 1 and 6B Block 3 $236,000.00 NS-T5 http://apps.cfwnet org/counciLpacket/mc_review.asp?ID=16843&councildate=5/15/2012 11/13/2012 M&C Review Page 2 of 2 'Jennings South Addition This property is located in COUNCIL DISTRICT 8, Mapsco 76H. FISCAL INFORMATION/CERTIFICATION: The Financial Management Services Director certifies that the Housing and Economic Development Department is responsible for the collection and deposit of funds due to the City TO Fund/Account/Centers FROM Fund/Account/Centers GC10 444583 030023002000 $236,000.00 Submitted for Citv Manager's Office bv: Originating Department Head: Additional Information Contact: ATTACHMENTS 801 WVICKERY.odf Fernando Costa (6122) Jay Chapa (5804) Robin Bentley (7315) Katherine Davenport (7923) http://apps.cfwnet.org/council_packet/mc review.asp?ID=16843&councildate=5/15/2012 11/13/2012