HomeMy WebLinkAboutResolution 630 'ESOL�JT101T FILE NO.
OF I
THE CITY COUNCIL OF THE CITY OF
� E
FORT WORTH, TEXAS, APPROVING AND AUTHORIZING THE EXECUTION OF
AN AGREEMENT TO LEASE A SUBSURFACE PUBLIC PARKING
FACILITY
WHEREAS, the City of Fort Worth desires to construct a subsurface public
parking facility which shall contain parking spaces for a minimum of 350
cars, to provide additional off-street public parking space in the Cen-
tral Business District of Fort Worth; and
WHEREAS, the City of Fort Worth has applied for a federal grant under
the Urban Development Action Grant Program under Section 119 of the Hous-
ing and Urban Development Act of 1974, as amended, to provide funds for
the construction of the public parking facility; and
WHEREAS, the public parking facility is proposed to be built near the
proposed Hyatt Regency Hotel owned and/or operated by Hunt Hotel/Fort Worth,
Ltd. ; and
WHEREAS, the City of Fort Worth and the Department of Housing and
Urban Development have entered into or will enter into a UDAG Grant Agree-
ment, and as a requirement and condition to the UDAG Grant Agreement, the
City must enter into an Agreement to Lease which will assure access by the
general public to the proposed subsurface public parking facility; NOW,
THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF FORT WORTH, TEXAS:
SECTION 1.
That the form and substance of the Agreement to Lease a subsurface
parking garage by and between the City of Fort Worth and the Hunt Invest-
ment Corporation, which is attached hereto and incorporated herein, be
and the same hereby is in all respects approved.
SECTION 2.
That the City Manager be and hereby is authorized and directed to exe-
cute the Agreement to Lease a subsurface parking garage, a copy of which
is attached hereto.
CITY OF FORT WORTH