HomeMy WebLinkAboutContract 43390-A4 CITY SECRETARY .
CONTRACT We
FOURTH AMENDMENT TO CITY SECRETARY CONTRACT NO. 43390
WHEREAS the City of Fort North ("Seller") and JJE 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 rshowed certain
encroachments and an arch storm drain running under the building slab and more time is
needed to resolve these issues;
WHEREAS, 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 Property in the Survey
Will be used in all documents that require a legal description of the Property;
WHEREAS, 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, City and Buyer extended the option Period by an additional 14 days
in the Third Amendment to the Contract effective October 5, 2012 to resolve the
encroachments to the Property and to amend the Contract to provide for an updated legal
description of the Property as shown on the Survey; and
WHEREAS, City and Buyer agree to extend the option Period by an additional
14 days effective October 19, 2012.
NOW, THEREFORE, Seller and Purchaser hereby agree as follows:
1.
a. The reference to "60 days" in Section 6(a) of the Contract is
amended to read "116 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.
THHk!b AMENDMENT TO CSC NO.43390 t
801 Vickery
1 1---p9--1 9 PO4 : 35 1 j
C. This Fourth Amendment is effective as of October 19, 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: PURCHASER:
City of Fort Worth JJE Properties, Ltd., a Texas limited
partnership,
By: /00
Fernando Costa, Assistant City Manager By Property Company of Fort North,
LLC, its General Partner,
Ap raved as to Legality and Form
.ti
,._. .
�
000C)e Op
o�
President
Assistant C i ty A# or g ames
0 0A0 Q
my, I , '. - 1 o O 0 1
'I F Q 0
City Secretar o d
M & C L-15363 Date: Ma 15 2 0 v°
y - D0 0o
+�oaov
THIRD AMENDMENT TO CSC NO.43394 2
841 Vickery
M&.0 Review Pagel of 2
Officizal site of the City of Fort Woith,Texas
CITY COUNCIL AGENDA
COUNCIL ACTION: Approved on 511512012
DATE: 5/15/2012 REFERENCE NO.: **L-15363 LOG NAME: 17801 WVICKERY
CODE: L 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. Authorize the direct sale of a fee simple property owned by the City of Fort Worth located at 801
Vilest 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-Telegram 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:Ilapps.cfwnet.orglcounc1 l_packetlmc_review.asp?1D=15843&counci1date=511512012 11/13/2012
M&C Review Page 2 of 2
Jennings South Addition
This property is located in COUNCIL DIs~l-RICT 8, Mapsco 76H.
FISCAL INFORMATIONIXERTIFICATION:
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 FundlAccountlCenters FROM Fund/Account/Centers
GC'I0 444583 030023002000 $236,000.00
Submitted for Citv Mana er's office b Fernando Costa (6122)
OrigLnatina De artment Head: Jay Chapa (5804)
Robin Bentley(7315)
Additional Information Contact:�
Katherine Davenport (7923)
ATTACHMENTS
801 WVICKERY. df
http://apps.cfwnet.org/council packet/mc review.asp?ID=1 6843&councildate=511512012 11/13/2012