HomeMy WebLinkAboutResolution 5006-12-2018CITY OF DALLAS RESOLUTION NO. 18118 18
CITY OF FORT WORTH RESOLUTION NO.
RESOLUTION MAKING CERTAIN FINDINGS OF CERTAIN DALLAS/FORT
WORTH INTERNATIONAL AIRPORT FACILITIES AS "APPROVED AIRPORT
PROJECTS" AND RELATED MATTERS
WHEREAS, with the approval of the Cities of Dallas and Fort Worth, Texas (the "Cities"), the Dallas -
Fort Worth International Airport Public Facility Improvement Corporation (the "Corporation") was duly
incorporated and is a validly existing Texas non-profit airport facility financing corporation pursuant to Chapter
22, Texas Transportation Code, as amended (the "Act");
WHEREAS the Cities are the joint owners of the real property and improvements known as the Dallas -
Fort Worth International Airport (the "Airport")
WHEREAS the Corporation's Articles of Incorporation, in Article IV(e), provide that the Corporation
shall have and may exercise all of the powers granted to non-profit corporations by the Texas Non -Profit
Corporation Act, Article 1396-1.01 et seq., Vernon's Texas Civil Statutes, as amended, and by all other laws
applicable to non-profit corporations (the "Non -Profit Act")
WHEREAS the Corporation proposes to assume a lease currently known as "Airport Board Agreement
No. 25452" ("the Lease") as the lessee.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
DALLAS THAT:
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH THAT:
Section 1. The Cities hereby approve the assumption of the Lease by the Corporation for all
purposes currently set forth in the Lease and determines that this assumption is consistent with and in
furtherance of the purposes of the Corporation as defined under Article IV(e) of the Corporation's Articles of
Incorporation.
Section 2. In the event the Corporation wishes to use the land and facilities under the Lease for a use
not listed under, or currently prohibited by the Lease, the Corporation is required to seek additional approval
by each of the Cities in accordance with Article IV of the Corporation's Articles of Incorporation.
Section 3. The Cities have been provided a copy of the actions taken by the Corporation, the PFIC
and the Airport with respect to the Lease, and the Cities hereby approve of such actions.
Section 4. This Resolution, when duly passed by both Cities, shall be in full force and effect.
Section 4. This Resolution, when duly passed by both Cities, shall be in full force and effect.
PASSED BY THE FORT WORTH CITY COUNCIL THIS 11"' DAY OF DECEMBER 2018.
Davi Cooke
City Manager
City of Fort Worth, Texas
APPROVED AS TO FORM AND LEGALITY:
Sarah J. Fu enwider
City ey
City of Fort Worth, Texas
THE STATE OF TEXAS §
COUNTY OF TARRANT §
CITY OF FORT WORTH §
I, Mary J. Kayser, City Secretary of the City of Fort Worth, Texas, do hereby certify:
1. That the above and foregoing is a true and correct copy of an Ordinance, duly presented
and passed by the City Council of the City of Fort Worth, Texas, at a regular meeting held on December 11, 2018,
as same appears of record in the Office of the City Secretary.
2. That said meeting was open to the public, and public notice of the time, place and
purpose of said meeting was given, all as required by Chapter 551, Texas Government Code, as amended.
the Official Seal of the City of Flat Worth, Texas, thi _day of
(SEAL)
)1ity Secritar
City of For -Worth, Texas
APPROVED AND ADOPTED BY THE DALLAS CITY COUNCIL THIS , 2018.
CITY OF DALLAS:
T.0 BROADNAX,
City Manager—,-�
THE STATE OF TEXAS
COUNTY OF DALLAS
CITY OF DALLAS
APPROVED AS TO FORM:
City Attorney
By:
. tk(3�-- "
Assistant City Attorney
I, Bilierae Johnson, City Secretary of the City of Dallas, Texas, dhereby certify:
1. That the above and foregoing is a true and correct copy of an excerpt from the minutes of
the City Council of the City of Dallas, had in regular meetingPeC. I2- , 2018, confirming the passage of resolution
making findings of certain DFW Airport facilities to be "Public Facilities" is duly of record in the minutes of said
City Council.
2. That said meeting was open to the public, and public notice of the time, place and
purpose of said meeting was given, all as required by Chapter 551, Texas Government Code, as amended.
WITNESS MY HAND and seal of the City of Dallas, Texas, this 20ib day of Pd*FAVXV72-018.
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City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 12/11/2018 - Resolution No. 5408-12-2018
DATE: Tuesday, December 11, 2018
LOG NAME: 55VERIZON LEASE PFIC
REFERENCE NO.: **G-19438
SUBJECT:
Adopt Resolution Approving the Assumption of the Verizon Place Lease Obligations by the DFW Airport
Public Facilities Improvement Corporation (PFIC), and the Operation of the Facility by the PFIC (ALL
COUNCIL DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council adopt the attached Resolution approving the assumption of the
Verizon Place lease obligations by the DFW Airport Public Facilities Improvement: Corporation (PFIC), and
the operation of the facility by the PFIC.
DISCUSSION:
Verizon leases a 77.06 -acre campus from the DFW Airport Board, which has 64 years remaining on the
term. Verizon wants to be released from the obligations of the lease, and is willing to assign the lease to
DFW Airport's PFIC. Before the PFIC can assume the obligations of the lease, the City Councils of Dallas
and Fort Worth will need to authorize the lease as a PFIC project.
Assignment of the lease to the PFIC furthers DFW Airport's Strategic Plan concerning the use of the
property. Verizon Place was formerly Braniff Airline Headquarters. After Braniff Airlines filed for
bankruptcy in 1983, DFW Airport assumed ownership of the property. In 1986, DFW then leased the
property, with Owner City approval, to GTE Realty, now Verizon Wireless, for a lease term of 99 years. If
approved, it is anticipated that the assignment transaction will close by December 31, 2018.
This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that this action will have no material effect on City funds.
FUND IDENTIFIERS (FIDS):
TO
Fund
Department
ccoun
Project �ProgramActivityj
ID
Budget
_ Year
Reference #ID
I (Chartfield 2)
Department ccoun Project
ID ID
CERTIFICATIONS:
Submitted for City Manager's Office by:.
Originating Department Head:
Additional Information Contact:
Budget
Year
Fernando Costa (6122)
Bill Welstead (5402)
Aya Ealy (5403)
Reference #
Chartfield 2
Logname: 55VERIZON LEASE PFIC Page 1 of 1