HomeMy WebLinkAboutOrdinance 17588-06-2007Ordinance No. 17588-06-2007
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE SPECIALLY FUNDED CAPITAL PROJECTS FUND
IN THE AMOUNT OF $4,575,000 FROM AVAILABLE FUNDS FOR THE
PURCHASE OF PROPERTY ON BOCA BATON FOR THE PURPOSE OF
DEMOLITION; PROVIDING FOR A SEVERABILITY CLAUSE; MAKING THIS
ORDINANCE CUMULATIVE OF PRIOR 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 2006-
2007 in the Budget of the City Manager, there shall also be increased estimated receipts and
appropriations in the Specially Funded Capital Projects Fund in the amount of 4,575,000 from
available funds for purchase of property on Boca Raton for the purpose of demolition.
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. 17142 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conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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.
APPR VED AS TO FO AND LEGALITY:
~L~r.C S~ ~--
Assistant City Attorney
ADOPTED AND EFFECTIVE: June 5 2007
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved As Amended on 6/5/2007 -Ordinance No. 17588-06-2007
DATE: Tuesday, June 05, 2007
LOG NAME: 17WOODHLAND REFERENCE NO.: L-14332
SUBJECT:
Authorize the Execution of Agreements for the Purchase of the Oak Hollow and Villa Del Rio
Apartment Complexes Located at 5901 Boca Raton and 5817 Boca Raton Fort Worth, Texas, and
Authorize the Funds for the Demolition and Adopt the Attached Supplemental Appropriation
Ordinance
-- -- --~ .
RECOMMENDATION:
It is recommended that the City Council:
1. Accept $7,985,887.14 from the Dallas/Fort Worth (DFW) International Airport for reimbursement for the
remaining balance of capital contributions for the initial development of DFW Airport;
2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Specially Funded Capital Projects Fund by $4,575,000 from available funds;
3. Authorize the City Manager to execute a purchase agreement with Blue Valley Apartments, Inc. to
purchase the apartment complex located at 5901 Boca Raton for $2,250,000.00;
4. Authorize the City Manager to execute a purchase agreement with LSF5 Villa Del Rio, LLC to purchase
the apartment complex located at Lot 1 Block 1 of the Spanish Oaks Apartment Addition, also known as
5817 Boca Raton for $1,575,000;
5. Authorize the City Manager to execute any documents necessary to complete the transactions as
provided in the purchase agreements; and
6. Authorize the expenditure of up to $750,000 for the demolition of the structures on the property.
DISCUSSION:
In 2004, Gideon Toal prepared the Woodhaven Neighborhood Redevelopment Plan (Plan). The Plan
focused on the conditions in the Woodhaven Neighborhood and ways to reduce crime, increase safety,
increase public amenities and improve the perception of the Woodhaven Neighborhood.
The Plan found that there were 23 apartment complexes
4,805 units. Two of the apartment complexes, Villa Del
since they were originally constructed in the 1970s.
generated numerous police calls as well as numeroi
Apartments contains 107 units and encompasses 4.65 a
units and encompasses 10.09 acres.
in the Woodhaven Neighborhood with a total of
Rio and Oak Hollow, have steadily deteriorated
In addition, these apartment complexes have
as Code Compliance violations. Villa .Del Rio
cres. The Oak Hollow Apartments contains 176
In order to implement the Plan, staff recommends purchasing the apartment complexes from Blue Valley
Logname: 17WOODHLAND Page 1 of 2
Apartment, Inc., and LSF5 Villa Del Rio, LLC under the terms set forth below and demolishing the
properties once purchased.
The terms of the purchase agreements are as follows:
Villa Del Rio
- Purchase Price $1,575,000.00
- Earnest Money $10,000
- Close by July 11, 2007 so long as no title or environmental issues, an acceptable survey and all tenants
must be relocated by closing
Oak Hollow
- Purchase Price - $2,250,000.00
- Earnest Money- $25,000
- Close by June 8, 2007 so long as no title or environmental issues, an acceptable survey and all tenants
must be relocated by closing
The apartment complexes are located in COUNCIL DISTRICT 4.
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that upon approval of the above recommendations and adoption of the
attached appropriation ordinance, funds will be available in the current operating budget, as appropriated, of
the Specially Funded Capital Projects Fund.
TO Fund/Account/Centers
C291 446100 $7.985.887.14
G291 446100 XXXXXXX)UUCXX $4.575.000.00
C291 539120 $750.000.00
C291 541250 $3.800.000.00
FROM Fund/Account/Centers
C291 539120
C291 541250
$750,000.00
$3,800.000.00
Submitted for City Manager's Office b~ Dale Fisseler (6140)
Originati~ Department Head: Tom Higgins (6192)
Additional Information Contact: Jay Chapa (5804)
Logname: 17WOODHLAND Page 2 of 2