HomeMy WebLinkAboutResolution 2921A Resolution
NO o2.~1 z
A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A
LOCAL TRANSPORTATION PROJECT ADVANCE FUNDING AGREEMENT
WITH THE TEXAS DEPARTMENT OF TRANSPORTATION
FOR RECEIPT AND USE OF LAND USE-TRANSPORTATION JOINT VENTURE GRANT
FUNDS FOR THE MAGNOLIA GREEN DEVELOPMENT PROJECT
(SOUTHWEST CORNER OF HEMPHILL AND ROSEDALE STREETS)
WHEREAS, on October 11 2001 the North Central Texas Council of Governments ("NCTCOG")
nominated the Crty of Fort Worth ("City") to receive a grant m the amount of $1,233,688 through the
Texas Department of Transportations ("TxDOT") Land Use-Transportation Joint Venture Grant
Program (the `Grant") for the redevelopment of property m the vicinity of the southwest corner of
Hemphill Street and Rosedale Street (the `Magnolia Green Project" or `Project"); and
WHEREAS, m January 2000 the Texas Transportation Commission passed Minute Order No. 108087
that provides for the development of, and funding for the Magnolra Green Project; and,
~ WHEREAS, Pennsylvania Avenue Limited Partnership and its lawful assigns ("Developer") will serve
as the developer of the Magnolia Green Project; and
WHEREAS, on July 16, 2002, the City Council adopted Resolution No 2853 affirming that the private
developer commitments required by Grant have been met for the Project and requesting that the
NCTOG place the Project m the Statewide Transportation Improvement Plan, and
WHEREAS, pursuant to an agreement with the Crty the Developer will utilize the Grant funds for
work on the Magnolia Green Protect as outlined in a Local Transportation Project Advance Funding
Agreement ("LPAFA ') that the Crty must execute with TxDOT as follows.
• Development of plans and environmental document for the project;
• Demolition of substandard curb and sidewalks relevant to the Project;
• Construction of concrete sidewalk and curbs, including up to 8 block faces of sidewalk
reconstruction or new construction,
• Construction of crosswalks with beck paver accents at various intersections,
• Installation of new pedestrian lighting and wayfinding systems, benches, and trash receptacles,
• Landscaping and installation of drainage and irngation systems,
• Location of TXU electric utility lines underground, and
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• With the concurrence of the City any other such work or construction meeting the goals and
objectives of the Grant and are eligible expenses under the Grant; and
WHEREAS, the Developer will be subject to the LPAFA through a future economic development
agreement between the City and Developer and
WHEREAS, the Developer has rezoned the property to mixed-use, pledged to provide at mimmum the
20% local match of $298 422 in land and $10,000 cash, and agreed to abide by all other preconditions
for the Grant.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT
WORTH THAT
The City Council hereby authorizes the City Manager to execute a Local Transportation Project
Advance Funding Agreement with TxDOT for receipt of Grant funds for the Magnolia Green Project.
AND IT IS SO RESOLVED.
Adopted this ~ ~~ day of ~e~2tno~rL, __ 2003
ATTFCT
APPROVED
CITY COUNCP~
FEB 18 2003
~~
cir~ s~etary ~ u~•
CiQy of Fort WorQh,'Texas