HomeMy WebLinkAboutIR 9946 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 9946
To the Mayor and Members of the City Council October 18, 2016
h�T�i7 Page 1 of 1
�i
{i7 Y
*a SUBJECT: LEASE AND SALE OF CITY OWNED PROPERTY LOCATED AT
rrn f
5901 AND 5817 BOCA RATON BLVD
The purpose of this Informal Report is to update Mayor and City Council members regarding the
proposed lease/sale of city owned properties located at 5901 and 5817 Boca Raton Blvd. (site
location map attached) to Athlos Academies, LLC (Athlos), for the purpose of developing the
properties with an International Leadership of Texas Charter School. A ground lease with option
to purchase agreement with Athlos is being proposed to ensure the property is developed with
the education facility prior to allowing a fee sale of the properties to Athlos. The terms of the lease
and sale option are being finalized and will be included in the information provided for City council
action. The transaction will be based on the appraised value of the land.
In order to continue with the lease and sale of the property to Athlos, the following steps are
required by the City to complete the transaction:
• The City must advertise its intent to sell or lease the property in accordance with the City's
charter for a period of four (4) consecutive weeks.
• Mayor and City Council's authorization to execute the necessary Ground Lease with
Option to Purchase Agreement with Athlos. It is anticipated the details of the agreement
and authorization request will be presented to City Council for consideration in November
2016 once the advertising period has been completed.
Unless directed otherwise, the Property Management Department will facilitate the necessary
advertising in accordance with the City's Charter provision and finalize the proposed Ground
Lease and Option to Purchase Agreement with Athlos for your later consideration.
Questions regarding the proposed lease and sale of the property should be directed to Stephen
B. Cooke, Director, Property Management Department, at 817.392.5134.
David Cooke
City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS
INFORMAL REPORT MAP
5817 AND 5901 BOCA RATON BLVD.
COUNCIL DISTRICT 4
0
CHOLLA
O
Y
Q
O
a T` 5901 BOCA RATON BLVD. LqK NE1 o0
�Z
Z
� O D
a z �
� a
a
5817 BOCA RATON BLVD.
<N
OAK VIEW Q00 oq��
99 g 26
BOCA BATON = 121 60
99 0 , 26 183
77
m m 10
r 199 121
N r
cn
r.� r
180
180
61
1 �_ r 87 r 03
° LV r
4' 1
OJ Y, J 77 87 6
U .
J
N FORT ORTHO
Copyright 2016 City of Fort Worth. Unauthorized reproduction is a violation of
WP applicable laws.This product is for informational purposes and may not have been 7
prepared for or besuitable for legal,engineering,or surveying purposes.It does not
represent an on-the-ground survey and represents only the approximate relative
5 location of property boundaries.The City of Fort Worth assumes no responsibility for
the accuracy of said data.
kd