HomeMy WebLinkAboutResolution 3026A Resolution
NO
AUTHORIZING EXCHANGE OF SURPLUS D/FW PROPERTY WITH BEAR
CREEK ASSOCIATES IV, L.P
WHEREAS, the Cities of Fort Worth and Dallas, Texas, ("Owner Cities"}, own
approximately 30 4 acres of vacant land located within the boundanes of Dallas/Fort
Worth International Airport ("DFW') on the west side of State Highway 360, north of
State Highway 183 in Euless, Texas, and
WHEREAS, on June 5, 2003 the Dallas-Fort Worth International Airport Board
("Board") has declared this tract of land unneeded and unwanted for airport purposes and
it was declared surplus to DFW needs by the Cities of Forth Worth and Dallas, and
WHEREAS, on November 6, 2003 the Board has authonzed the Chief Executive
Officer to recommend acceptance of the sole bid received for the exchange of the 30 4
acres of vacant land at DFW, and
WHEREAS, the 1968 Contract and Agreement between the Owner Cities, and the
1968 Regional Airport concurrent Bond Ordinance, requires the approval of the Owner
Caries to dispose of surplus tracts of land in compliance with the Local Government Code
of the State of Texas, and
WHEREAS, DFW has complied legally and fully with the provisions of §272.001
of the Texas Local Government Code, respecting public advertisement of bids iri
connection with the sale of this property; and
WHEREAS, On October 27, 2003, DFW received a sole bid from Bear Creek
Associates IV, L.P to exchange a tract of land consisting of 46.14 acres valued at
$6,150,000 for the 30 4 acre DFW Tract of Land, and
WHEREAS, the Board desires approval from the Owner Cities to accept the bid
from Bear Creek Associates IV, L.P., and
WHEREAS, DFW has found that this bid complies with all legal requirements
and is acceptable.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS
Section 1 That, upon conveyance of title from Bear Creek Associates IV, L.P of 46 14
acres of vacant land valued at $6,1.50,000 and located adjacent to airport property in
exchange for 30 4 acres of vacant land declared unneeded and unwanted for airport uses,
the City Manager be and is hereby authonzed to execute a special warranty deed to
convey title of the 30 4 acre tract to the high bidder
Section 2 That the conveyance of this property shall be subject to the following
conditions
a) the reservation of an avigation easement for the free and unobstructed
passage of all aircraft with a determined elevation, and
b) any visible and apparent easements and any covenants, conditions,
reservations, restnctions, easements, mineral interests, or instruments of
record.
Section 3 That the conveyance shall be contingent upon the Agreement to Amend Land
Repurchase Option dated May 30, 2003 wherein the conditional repurchase option will
be waived for an amount not to exceed $23,000 00 In addition to the bid amount, the
high bidder is required to pay $11,500 00 to be used to waive the conditional repurchase
option held by Deanng, Inc
Section 4 That the approvals and authonzations contained in this resolution are further
conditioned upon similar approvals and authonzations by the City Council of Dallas
Section 5 That this resolution shall take effect immediately from and after its passage in
accordance with the provisions of the Charter of the City of Fort Worth and it is
accordingly so resolved.
ADOPTED this ~~ da of December 2003
Y
~t~3~ ~~ ~~~' ~~r~~~
"•
•
Mayor, City of Fort W,
By•
Gl 'a Pearson
City Secretary
APPROVED AS TO FORM
$ Q~LcG/~
Y
David Yett
City Attorney
~~~
QTY
~~~~k ltJ ~ti6 '°M~~:jV,
d'
~itp S~-sL.xyi +~k"~
ATTEST