HomeMy WebLinkAboutContract 43390-A2 (2)CITY SECRETARYLItrpti ger( --Ls
CONTRACT NO. uas,
SECOND AMENDMENT TO CITY SECRETARY CONTRACT NO. 43390
WHEREAS the City of Fort Worth ("Seller") and JJE Properties, Ltd. ("Buyer")
made and entered into City Secretary Contract No. 43390 (the "Contract");
WHEREAS, the Section 6(a) Contract provides for a 60 day Option Period;
WHEREAS, City and Contractor extended the Option Period by 14 days in the
First Amendment to the Contract effective September 7, 2012;
WHEREAS, the updated Survey and Title Commitment showed certain
encroachments and an arch storm drain running under the building slab and more time is
needed to resolve these issues; and
WHEREAS, it is the mutual desire of City and Contractor to extend the Option
Period for an additional 14 days.
NOW, THEREFORE, City and Contractor hereby agree as follows:
I.
a. The reference to "60 days" in Section 6(a) of the Contract is
amended to read "88 days."
b. As independent consideration of this extension, Buyer will deliver
$50.00 to Seller prior to execution of this amendment. The $50.00
is nonrefundable, and will not be applied to the Purchase Price at
Closing.
c. This Second Amendment is effective as of September 21, 2012.
II.
All terms not defined have the meaning assigned to them in the Contract. All
term and conditions of the Contract not amended herein remain unaffected and in full
force and effect, are binding on the Parties and are hereby ratified by the Parties.
SELLER:
City Of Fort Worth
By:
Fernando Costa, Assistant City���ger ri;:q%
Approved as to Legality an
��o u
Assistant City Attorney ao%
ity Seer
M&CL-1
oOO Opn 0o �00%
Qo
act;c0,
n A
pi
oo 5:1
la. IRO"
63 Date: May 15, 20altinfoslot
12
PURCHASER:
JJE Properties, Ltd., a Texas limited
partnership,
By Property Company of Fort Worth,
LLC, its General Partner,
By:
James
,1 I ---1 2 P ��
M&C Review
COUNCIL ACTION: Approved on 5/15/2012
Page 1 of 2
official site of the City of Fort Worth, Texas
FORT WO RP)
DATE: 5/15/2012 REFERENCE NO.: **L-15363 LOG NAME: 17801 WVICKERY
CODE* L TYPE: CONSENT PUBLIC NO
HEARING:
SUBJECT: Authorize Direct Sale of a Fee Simple Property Owned by the City of Fort Worth Located
at 801 West Vickery Boulevard to JJE Properties, Ltd., in the Amount of $236 000.00 in
Accordance with Section 272.001(b)(6) of the Texas Local Government Code (COUNCIL
DISTRICT 8)
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the direct sale of a fee simple property owned by the City of Fort Worth located at 801
West Vickery Boulevard to JJE Properties, Ltd. in the amount of $236,000.00 in accordance with
Section 272.001(b)(6) of the Texas Local Government Code; and
2. Authorize execution and recording of the appropriate instruments conveying the property to
complete the sale.
DISCUSSION:
The property at 801 West Vickery Boulevard was acquired by the City of Fort Worth (M&C L-13115)
for the Vickery Boulevard Project, which was approved by City Council in November 1990 (M&C G-
8923) and revised in October 1996 (M&C G-11605). The property was the former site of the Shooter's
Palace Building which was used as a gun range.
On December 14 2004, (M&C G-14612) the City Council rescinded approval for the Vickery
Boulevard Project and approved the sale of parcels purchased for the project.
A written Intent to Purchase the property was received from JJE Properties, Ltd. The company plans
to restore the 1925 structure and address the environmental issues on the property.
The City of Fort Worth is authorized to sell fee owned property by Texas Local Government Code
272.001 (b)(6), which allows for the direct sale of property that is located in a reinvestment zone and
that the municipality desires to have developed under a project plan adopted by the municipality for
the zone. This property is located in the Tax Increment Reinvestment Zone Number 4 (TIF) and will
be developed in accordance with the project plan for that TIF.
The property was appraised on March 27, 2012 in the amount of $236,000.00.
The City of Fort Worth advertised the Intent to Sell the property in the Fort Worth Star-Telearam on
April 22, 2012, April 29, 2012, May 6, 2012 and May 13, 2012.
The Planning and Development Department has reviewed the current zoning of this property and
determined that the zoning classification of the property is compatible with respect to the existing land
use, the existing land uses of the surrounding neighborhood and future land use designations
indicated by the Comprehensive Plan.
ADDRESS LEGAL PRICE ZONING
801 West Vickery Boulevard
Lots 1 and 6B Block 3
$236,000.00
NS-T5
http://apps.cfwnet.org/council_packet/me_review.asp?IlTh=16843 &couneildate=5/1 5/2012 11/13/2012
M&C Review Page 2 of 2
'Jennings South Addition
This property is located in COUNCIL DISTRICT 8, Mapsco 76H.
FISCAL INFORMATION/CERTIFICATION:
The Financial Management Services Director certifies that the Housing and Economic Development
Department is responsible for the collection and deposit of funds due to the City
TO Fund/Account/Centers FROM Fund/Account/Centers
GC10 444583 030023002000 $236.000.00
Submitted for Citv Manager's Office bv:
Originating Department Head:
Additional Information Contact:
ATTACHMENTS
801 WVICKERY.odf
Fernando Costa (6122)
Jay Chapa (5804)
Robin Bentley (7315)
Katherine Davenport (7923)
http://apps.cfwnet org/council_packet/mc review.asp?ID=16843&councildate=5/15/2012 11/13/2012