The URL can be used to link to this page

Home My WebLink About2010/12/07-Minutes-Fort Worth Local Development Corporation (FWLDC)CITY OF FORT WORTH, TEXAS FORT WORTH LOCAL DEVELOPMENT CORPORATION CALLED - SPECIAL SESSION TUESDAY, DECEMBER 7, 2014 Present: President Frank Moss Vice President Danny Scarth Secretary Carter Burdette Treasurer W.B. "Zim" Zimmerman Director Mike Moncrief Director Salvador Espino Director Jungus Jordan Director Joel Bums (Arrived at 1:28 p.m.) Absent Director Kathleen Hicks City staff: Susan Alanis, Assistant City Manager Peter Vaky, Senior Assistant City Attorney Ron Gonzales, Assistant City Secretary Cynthia Garcia, Assistant Director, Housing & Economic Development Department Jean Petr, Gas Lease Program Manager, Planning & Development Department Other Citv staff in attendance included: Marty Hendrix, City Secretary Jay Chapa, Director, Housing & Economic Development Department Mark Folden, Housing Program Manager, Housing & Economic Development Department Henry Day, Senior Management Analyst, Housing & Economic Development Department Christopher Mosley, Assistant City Attorney mmeam (Agenda Item t) With a quorum of the Board Members present, President Moss called the called - special session to order for the Board of Directors of the Fort Worth Local Development Corporation (Corporation) at 1: 15 p.rn, on 'rueslay, December 7, 20 10. in the Pre-Council Charriber of the Fort Worth Municipal Building, 1000 Throckmort-on Street, Fort Worth, 'rexas. with Director Bums tennporarilly absent and Director Hicks absent. CITY OF FORT WORTH, TEXAS FORT WORTH LOCAL DEVELOPMENT CORPORATION CALLED — SPECIAL SESSION TUESDAY, DECEMBER 7, 2010 Page 2 Approval of Minutes from Meeting held on September 14, 2010 (Agenda Item 2) President Moss opened the floor for a motion on the minutes. MOTION: Upon a motion made by Director Moncrief and seconded by Director Zimmerman, the Board of Directors of the Fort Worth Local Development Corporation voted unanimously seven (7) "ayes" and zero (0) "nays", with Director Bums temporarily absent and Director Hicks absent, to approve the minutes of the September 14, 2010, meeting of the Fort Worth Local Development Corporation. The motion carried. Written Reports-Consideration of Financial Report (Agenda Item 3A) Assets President Moss referenced the following financial report: The Balance Sheet dated October 31, 2010 (Unaudited), for the Corporation as follows: Cash and cash equivalents $2,135,513.70 Interest Receivable 6,212.05 Accounts Receivable (1) 390,000.00 Total Assets $2,531,725.75 Liabilities and Fund Balance Accounts and Contracts Payable OM Total Liabilities OM Fund Balance (Deficit) Designated for Authorized Expenditures $2,492,627,92 Net income 39,097,83 Undesignaced 0,00 Total Fund Balance 2,531,72535 'i- otal Liabi'ties and Pumd Balance $25531,725,75 3 AH Ac co t unts Rf etivab_e arft', fro,,r-,n,,,, CA", of Fort Worth CITY OF FORT WORTH, TEXAS FORT WORTH LOCAL DEVELOPMENT CORPORATION CALLED — SPECIAL SESSION TUESDAY, DECEMBER 7, 2010 Page 3 Consideration of Financial Report (cont'd) (Agenda Item 3A) The Statement of Revenues and Expenditures from October 1, 2010, through October 31, 2010 (Unaudited), for the Corporation as follows: Property Tax Reimbursement $655.72 Revenue from Rents 28,177.39 Gas Lease Bonus 0.00 Gas Lease Royalties 14,786.05 HUD Loan Administration Fee 0.00 Interest Income 2,079.89 Change in Fair Value of Investments 0.00 Other Revenue 0.00 Total Revenue $45,699.05 Expenditures Bank Charges $47.40 Contractual Services 0.00 Insurance (1,289.25) Property Management 1,127.10 Property Purchase 0.00 Property Taxes 0.00 Repairs 3,053,84 Security System 431.91 Storm Water Utility 2,636,25 Transfers to City 0,00 Utilities 593.97 Total Expenditures $6,601.22 Excess (Deficiency) of Revenues Over (Under) Expenditures $39,097.83 The Schedule of Available Funds dated October 31, 2010 (Unaudited'), for the oqporatlon as filflows: otal Cash at October 31, 2010 $2,1135,513-70 Cash in Property Management Account 4 52 ' =9,32) Cash available in C.1-ty account 2,090,274-38 CITY OF FORT WORTH, TEXAS I I*?"Oi8,70CTI LIQICAL CALLED — SPECIAL SESSION TUESDAY, DECEMBER 7,2010 Page 4 Consideration of Financial Report (cont1d) Commitments Remediation of 1108 E. Berry Evans & Rosedale Enhanced CFA Survey Expenses Reserves Maintenance Reserve Property Tax Reserve Total Commitments & Reserves Unrestricted Cash Available (Agenda Item 3A) 100i000.0(j 100,omol ! • 06-IRSM The Schedule of Available Funds noted that on August 21, 2007, $275,000.00 was transferred to the City (M&C C-22334) with the understanding that it would be paid back when properties along Lancaster are sold. The transfer was made to fund an art sculpture on Lancaster Avenue. On December 18, 2007, S 162,000.00 was transferred to the City (M&C C-22592) with the understanding that it would be paid back when properties along Lancaster are sold. The transfer was made to fund survey services and improvements on Lancaster Avenue. In September of 2008, $92,321.91 of the S 162,000.00 was returned to the LDC. President Moss opened the floor for discussion and/or comments on these reports. There was no discussion or formal action on the reports and the reports were accepted as presented. Adopt Resolution to Ratify an Easement with Oncor Electric Delivery Company') LLC, to Provide Electric Service to A&R Transport, Inc., for Property at 4600 Blue Mound Road (Agenda Item 4) Ms. Cvnihia Garcia, Assistant Director, housing and Economic Development, addressed the Corporation regarding the proposed resolution. 1-3sing a PowerPoint presentation, Ms, Garcia began her staff report by displaying an aerial view of the property and reminded the members that the property at 4600 Blue Mound Road was owned by the Corporation and leased to A&R Transport, Inc., for their parking lease and truck wash, She displayed another aerial view that pro-vided a closer image of the location and advised the Corporation of the lease and request by A&R Transport, Inc., as follows. CITY OF FORT WORTH, TEXAS CALLED - SPECIAL SESSION TUESDAY, DECEMBER 7,2010 Page 5 Adopt Resolution to Ratify an Easement with Oncor Electric Delivery Company, LLC, to Provide Electric Service to A&R Transport, Inc., for Property at 4600 Blue Mound Road (cont'd) (Agenda Item 4) • In April 2010, the LDC approved a 5-year lease with A&R Transport, Inc., in order to operate a truck wash • Rent of 54,398.87 per month for the first year; $4,604.15 per month for the second year; and $4,809.44 for the remainder of the initial lease term and renewal term. • A&R pays for all utilities, cleaning, security, lighting, fences and gates, repairs and maintenance. • A&R takes the property "As-Is" except that the LDC must repair the existing drainage and sewer pipes within 60 days of execution. 0 In order to operate their truck wash, A&R requested that the LDC grant an easement to Oncor in order to provide electricity to the building located on the property. Ms. Garcia displayed a photograph of the building and advised that A&R Transport, Inc., had made improvements to the property since the photograph was taken. She also provided a slide that depicted the survey of the property with the location of the easement reflected in yellow. She concluded her presentation by stating that the staff recommended the Corporation ratify the grant of the easement to Oncor to allow A&R Transport, Inc., the capability operating their truck wash. President Moss opened the floor for discussion on this issue. There being no discussion, President Moss opened the floor for a motion. MOTION: Upon a motion made by Director Jordan and seconded by Director Moncrief, the Board of Directors Wthe Fort. Worth Local Development Com, oration voted unwnimously seven (7) "ayes- and zero (10), "nays", filth Director Bums i1v absent and Director Hicks absent. to approve and adopt Resolution ternpomrl L I No. FW LDC -del 0-06. The motion carried. CITY OF FORT WORTH, TEXAS FORT WORTH LOCAL DEVELOPMENT CORPORATION CALLED — SPECIAL SESSION TUESDAY, DECEMBER 7, 2010 Page 6 Adopt Resolution Authorizing an Underground Pipeline License Agreement with Texas Midstream Gas Services, L.L.C., for a Natural Gas Pipeline Under Property Located at t776 E. Berry (Agenda Item 5) Ms. Jean Petr, Gas Lease Program Manager, Planning and Development Department, addressed the Corporation regarding the proposed resolution. Using a PowerPoint presentation, Ms. Petr advised the Corporation of the pipeline agreement for property located at 1776 Berry as follows: • Natural Gas Pipeline requested by Texas Midstream Gas Services, LLC. • Proposed route parallels existing natural gas pipeline. • Water Department and Transportation and Public Works Department reviewed alignments and have no objections. Ms. Petr's stated that this property would potentially have three (3) natural gas pipelines side-by-side, but for the purpose of this briefing, only one would be discussed at this time. She added that there was an existing pipeline on the property that was granted in 2006 when the property was a tax foreclosed property prior to the acquisition of the Fort Worth Local Development Corporation. She added that the proposed route paralleled the existing 10-inch natural gas pipeline which was east of the property. She advised that this pipeline was being referred to as the "Morrison" pipeline and had been reviewed by the Transportation and Public Works and Water Departments to ensure that there was no difficulty with existing utilities or other facilities that the City owned. She provided the Corporation with the following background information on the Morrison pipeline: • S-Inch pipeline • Open cut installation • No above around facilities • Standard license agreement • Pray e n t o f 1 -5,0032 9 117.53FL6 $47,1 5/LF term Ms. Petr presented an aerial view of the proposed pipeline with a color overlay and explained that the existing pipeline was depicted in green, the Morrison pipeline was depicted in red on a yellow background, and a truture pipeline was depicted by a dotted red line. She advised that thy`.; 0 t existing pilipe-line came fiom flhe Mas, nic ing d,.,,-wn to the S&B I NO] Nite !"Outh of 1 //6 I* I &was it] ta Swil 'ka I I M I WX YUjkrT-'VV11TKrff i '!' rX CALLED — SPECIAL SESSION TUESDAY, DECEMBER 7,2010 Page 7 Adopt Resolution Authorizing an Underground Pipeline License Agreement with Texas Midstream Gas Services, L.L.C., for a Natural Gas Pipeline Under Property Located at 1776 E. Berry (Agenda Item 5) Berry. She added that the proposed pipeline would go from the Morrison well which was just south and east of the location to the valve site and pointed out that a future 24-inch pipeline known as the"S&B to Hickman" would go from the Hickman well which was on the north side of the Sycamore Golf Course and go down to the S&B well and Compressor Station. She pointed out that the S&B to Hickman pipeline had not been vetted by the Transportation and Public Works and Water Departments and therefore would be presented to the Corporation upon completion of the vetting process. President Moss opened the floor for discussion on this issue. Director Burdette requested clarification of the location of LDC property relative to this pipeline. Ms. Petr advised that the slide was not to scale and therefore did not depict much of the property that was present and made reference to the location of the LDC property on the slide. She pointed out that it appeared that the LDC property was cutting right through the property but that there was a large hill near the location of the proposed pipeline and also advised of an existing sewer line that was present when the property was in tax foreclosure. Director Burdette asked if the staff had vetted as to what the location of the gas pipelines might do to the future development and value of this property to the LDC as the gas lines had obvious restrictions on what development could be located on the property. Mr. Jay Chapa, Director, Housing and Economic Development Department, referred to the slide and described the topography of the property as having a rise of 20 to 25 feet and advised that any development to the south or east would be yen, expensive. He reiterated that there was an existinc, sewer line and staff deten-nined that any future development would be on the comer of the property, Director Burdette asked ill Jr. Chapa was safisfied that this pipeline would not" mat enially atfect anv future development and Mr. Chapa responded by stating it would not matenially affect anything beyond what was already on the property before it was acquired, President Moss inquired what the name of the roadway was to the dght of the location, Mr. Chapa stated that A vas accessto what used to be lc--,c red ffirther down the road, CITY OF FORT WORTH, TEXAS FORT WORTH LOCAL DEVELOPTIVIENT CORPORATION CALLED — SPECIAL SESSION TUESDAY, DECEMBER 7,2010 Page 8 Adopt Resolution Authorizing an Underground Pipeline License Agreement with Texas Midstream Gas Services, L.L.C., for a Natural Gas Pipeline Under Property Located at 1776 E. Berry (Agenda Item 5) Director Scarth asked what the size of actual easements at the location was. Ms. Petr stated that she thought the measurement of easements were 15 to 220 feet. Ms. Petr then advised the Corporation of the future 24-inch pipeline that had not been vetted by City staff and explained the location of the pipeline in relation to Cobb Park. She concluded her presentation with the following staff recommendation: • Recommend approval of 8-inch Morrison pipeline. • Staff will bring 24-inch S&B-Hickman pipeline to Corporation for approval in the future. Director Moncrief noted that the pipeline was in District 8 and inquired if staff had addressed this issue with Director Hicks. Ms. Petr stated that she had visited with Director Hicks and that she also had an e-mail on file that asked Director Bums to make a motion to move forward with the proposed pipeline. There being no further discussion, President Moss opened the floor for a motion. MOTION: Upon a motion made by Director Moncrief and seconded by Director Burdette, the Board of Directors of the Fort Worth Local Development Corporation voted unanimously eight (8) "ayes" and zero (0) "nays", with Director Bums temporarily absent and Director Hicks absent, to approve and adopt Resolution , No. FWLDC-20 10-07 - The motion carried. (Director Burns arrived at the meeting.) Executive Session (Agenda ltern7) In accordance w1th Chapter _551 of the Texas Govlemrnenl Code, President Moss and the Directors of the Fort Wot-th Local Development Corporation convened into Executive Session at 1:27 p.m., on Tuesday. December, 7, 2101(), in the Pre-Council Chamber of the Fort Worth City Hall. 1000 Throckmorton Street, Fort Worth, Texas 761 02, in order to- CITY OF FORT WORTH, TEXAS FORT WORTH LOCAL DEVELOPMENT CORPORATION CALLED - SPECIAL SESSION TUESDAY, DECEMBER 7,2010 Page 9 Executive Session (cont'd (Agenda Item7) A. Seek the advice of its attorneys concerning the following items that are exempt from public disclosure under Article X, Section 9, of the Texas State Bar Rules, as authorized by Section 551.071 of the Texas Government Code: (i) legal issues concerning any current agenda item; (ii) legal issues concerning HIH Acquisitions, LLC, dba American Iron Horse Motorcycle Co., Northern District of Texas Bankruptcy No. 09-42480; and B. Discuss the purchase, sale, lease or value of real property, as authorized by Section 551.072 of the Texas Government Code. Deliberation in an open meeting would have a detrimental effect on the position of the Corporation in negotiations with a third party; and C. Discuss or deliberate negotiations related to any economic development negotiations, as authorized by Section 551.087 of the Texas Government Code. The Executive Session adjourned at 1:35 p.m. President Moss reconvened from the Executive Session back into the called — special session at 1:36 p.m. Requests for Future Agenda Items (Agenda Item 7) President Moss opened the floor on requests for future agenda items. No requests were made by Corporation Board members. (Agenda Item 8) With no further business before the Board, President Moss adjourned the called - special session of the Fort Worth Local Development Corporation at 1:36 p.m, on Tuesday, Dec-ember 7. X010. These minutes approved by the Foit Worth Local, Development Comoration on the I" I v of March , -10 11 - CITY OF FORT WORTH, TEXAS FORT WORTH LOCAL DEVELOPMENT CORPORATION CALLED — SPECIAL SESSION TUESDAY, DECEMBER 7,2010 Page tO APPROVED: Frank Moss President ATTEST: Carter Burdette, Secretary Prepared and respectfully submitted by: Ronald P. Gonzales, TRMC/CMC Assistant City Secretary