HomeMy WebLinkAboutOrdinance 22156-04-2016 ORDINANCE NO.22156-04-2016
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE STREET IMPROVEMENT 2008 FUND IN THE
AMOUNT OF $55,371.00, FROM AVAILABLE FUNDS, FOR THE PURPOSE OF
RELEASE OF A SLOPE EASEMENT FOR THE NORTH BEACH STREET
PROJECT; PROVIDING FOR A SEVERABILITY CLAUSE; MAKING THIS
ORDINANCE CUMULATIVE OF PRIOR ORDINANCES; REPEALING ALL
ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE
DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS:
SECTION 1.
That in addition to those amounts allocated to the various City departments for Fiscal Year 2015-2016 in the
Budget of the City Manager,there shall also be increased estimated receipts and appropriations in the Street
Improvement 2008 Fund in the amount of$55,371.00, from available funds, for the purpose of release of a
slope easement for the North Beach Street project.
SECTION 2.
That should any portion, section or part of a section of this ordinance be declared invalid, inoperative or
void for any reason by a court of competent jurisdiction, such decision, opinion or judgment shall in no way
impair the remaining portions, sections, or parts of sections of this ordinance, which said remaining
provisions shall be and remain in full force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance No. 21873-09-2015 and all other ordinances and
appropriations amending the same except in those instances where the provisions of this ordinance are in
direct conflict with such other ordinances and appropriations, in which instance said conflicting provisions
of said prior ordinances and appropriations are hereby expressly repealed.
SECTION 4.
This ordinance shall take effect upon adoption.
APPROVED AS TO FORM AND LEGALITY:
Leann Guzman,Assistant dlty Attorney Maly . K r, i Sq&tary
ADOPTED AND EFFECTIVE:April 5,2016
Ordinance No.22156-04-2016
Page 1 of 1
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City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 4/512016 - Ordinance No. 22156-04-2016
DATE: Tuesday, April 05, 2016 REFERENCE NO.: L-15887
LOG NAME: 2121 PMD SALE CASTLE EQUITY, LLC
SUBJECT:
Authorize Release of Slope Easement in Approximately 0.297 Acres of Property Located Near the
Intersection of North Beach Street and Bewley Drive to Castle Equity, LLC, for the Amount of$55,370.36
Pursuant to the Right of Repurchase in Texas Property Code Section 21.101 and Adopt Appropriation
Ordinance (COUNCIL DISTRICT 4)
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the release of a slope easement in approximately 0.297 acres of property located near the
intersection of North Beach Street and Bewley Drive to Castle Equity, LLC, for the amount of$55,370.36
pursuant to the right of repurchase held by Castle Equity, LLC, in accordance with Texas Property Code
Section 21.101; and
2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
amount of$55,371.00 in the North Beach Street Project of the Street Improvements 2008 Fund; and
3. Authorize the City Manager to execute and record the appropriate instruments.
DISCUSSION:
On July 3, 2012, the City, pursuant to the City's eminent domain power, acquired a slope easement
(Easement) on property located near the intersection of North Beach Street and Bewley Drive (Property)
from Heritage Glen Retail Joint Venture (Heritage) by easement filed as Document No. 212271300, Real
Property Records of Tarrant County. The Easement was acquired for the North Beach Street, Vista
Meadows to Shriver Road Project. On April 30, 2014, Castle Equity, LLC (Castle) acquired ownership of
the Property from Heritage Glen Retail Joint Venture by deed filed as Document No. 214089290, Real
Property Records of Tarrant County.
Under Texas Property Code Section 21.101, the person from whom a real property interest is acquired
through eminent domain for a public use, or that person's successors or assigns, is entitled to repurchase
the property if the property becomes unnecessary for the public use for which the property was acquired
before the 10th anniversary of the date of the acquisition. The repurchase price, as set forth in Section
21.103(b), is the price the City paid the owner for the property interest.
The Easement is a property interest acquired through eminent domain for a public use. The additional
lanes of North Beach Street have now been constructed. City staff has determined that the slope
easement is no longer necessary before the 10th anniversary of the date of the acquisition of July 3,
2012. Therefore, the successors of Heritage may repurchase the Easement under the statutory right to
repurchase for the amount the City paid the owner for the Easement. Castle, as the successor-in-
ownership of the Property, now holds the right to repurchase. Castle acquired this right as of April 30,
Logname: 2121PMD SALE CASTLE EQUITY, LLC Page I of 2
2014, the effective date of its acquisition of the Property.
The statutorily-required price for the repurchase of the Easement by Castle is the same price the City paid
for the Easement, which is $4.28 per square foot. The 0.297 acres equates to 12,937 square feet and at a
price of$4.28 per square foot, the repurchase price is a total of$55,370.36.
1 Purchaser ( _ Legal Description _ r__ Size - —_I Amount
A 35-foot wide tract of land
located in the Samuel P.
Castle Equity, LLC Williams Survey,Abstract No. 0.297 acres, or 12,937 sq ft. $55,370.36
1690, Fort Worth,Tarrant
County,Texas
This property is located in COUNCIL DISTRICT 4, Mapsco 233 F8.
This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION I CERTIFICATION:
The Director of Finance certifies that the Property Management Department is responsible for the deposit
of funds received and upon approval of the above recommendation and adoption of the attached
appropriation ordinance, funds will be available in the current capital budget, as appropriated, of the Street
Improvements 2008 Fund.
FUND IDENTIFIERS (FIDs):
TO
Fund Department Accouni Project ProgramActivity Budget Reference # Amount
ID ID Year (Chartfield 2)
139407 0200431 4901001 C01292 CO2341 $55,370.36
39407 0200431 4901001 C01292 CO2341 $55,370.36
139407 0200431 5740010 C01292 CO2341 $55,370.36
FROM
Fund Department ccoun Project Program ctivity Budget Reference # moun
ID ID Year Chartfield 2
CERTIFICATIONS:
Submitted for City Manager's Office by: Jay Chapa (5804)
Originating Department Head: Steve Cooke (5134)
Additional Information Contact: Deanna Cody (8379)
Logname: 2121PMD SALE CASTLE EQUITY, LLC Page 2 of 2