HomeMy WebLinkAbout2015/11/17-Minutes-Fort Worth Local Development Corporation (FWLDC)CITY OF FORT WORTH, TEXAS
FORT WORTH LOCAL DEVELOPMENT CORPORATION
TUESDAY, NOVEMBER 17, 2015
Present:
Vice President Gyna Bivens
Treasurer W. B. "Zim" Zimmerman
Secretary Dennis Shingleton
Trustee Betsy Price
Trustee Salvador Espino
Trustee Cary Moon
Trustee Jungus Jordan
Trustee Kelly Allen Gray
Trustee Ann Zadeh
City staff:
Fernando Costa, Assistant City Manager
Leann Guzman, Senior Assistant City Attorney
Mary J. Kayser, City Secretary
Jay Chapa, Administrator
1. Call to Order.
With a quorum present Vice President Bivens called the meeting to order for the Board of
Directors of the Fort Worth Local Development Corporation (Corporation) at 1:08 p.m. on
Tuesday, November 17, 2015, in the Pre -Council Chamber of the Fort Worth Municipal
Building, 1000 Throcicmorton Street, Fort Worth, Texas.
2. Approval of Minutes from the Meeting Held on June 16, 2015.
Motion was made by Trustee Espino and seconded by Trustee Zadeh to approve the
June 16, 2015, minutes of the Corporation. The motion passed 9-0.
3. Election of Officers
Mr. Jay Chapa, Administrator, stated that with the changeover in the Council District 4, Danny
Scarth was the previous President of the Corporation and advised the Board of the current roster
of officers. He added that four positions needed to be elected.
Motion was made by Trustee Espino and seconded by Trustee Shingleton to elect Gyna Bivens
as President, Cary Moon as Vice President, Dennis Shingleton as Secretary, and W.B. "Zim"
Zimmerman, as Treasurer, respectfully, of the Fort Worth Local Development Corporation. The
motion passed 9-0.
4. Written Reports: Fort Worth Local Development Corporation Financial Report
through September 30, 2015.
There was no discussion on this item.
CITY OF FORT WORTH, TEXAS
FORT WORTH LOCAL DEVELOPMENT CORPORATION
TUESDAY, NOVEMBER 17, 2015
PAGE
5. Action Items.
A. Discussion and Consideration of a Resolution Appointing Robert Sturns as Authorized
Signatory Agent of the Fort Worth Local Development Corporation
Mr, Jay Chapa, Administrator, advised that with changeovers in the overall organization and
Cynthia Garcia, an authorized signatory leaving the City, staff was requesting that Robert Sturns
be given signatory authority for the Corporation.
Motion was made by Trustee Allen Gray and seconded by Trustee Shingleton to approve
Resolution No. FWLDC-2015-03, Appointing Robert Sturns as an Authorized Signatory Agent
of the Fort Worth Local Development Corporation. The motion passed 9-0.
B. Discussion and Consideration of a Resolution Approving the Budget for the 2015-2016
Fiscal Year
Mr. Jay Chapa, Administrator, provided a PowerPoint presentation titled as above. He
summarized the FY14-15 Budget Actuals and the FY15-16 Proposed Budget. He clarified
differences in the budgets in the Contractual Services, Repairs and Property Taxes line items as
requested by the trustees.
Motion was made by Trustee Shingleton and seconded by Trustee Price to approve Resolution
No. FWLDC-2015-04, Approving the Budget for the 2015-2016 Fiscal Year. The motion passed
9-0.
C. Discussion and Consideration of a Resolution to Authorize a Lease Agreement with
Anchor Fabrication, Inc. for Property Located at 4600 Blue Mound Road, a 224,800
Square Foot Industrial Facility
Mr. Robert Sturns, Interim Economic Development Director, provided a PowerPoint
presentation titled as above. Mr, Sturns explained that this was a new lease and was to be used
as an expansion place for Anchor Fabrication, Inc. He summarized the terms of the lease and
recommended the Board approve the resolution.
Trustee Espino requested that staff provide information at a future meeting on the number of
employees that would work at this facility.
Motion was made by Trustee Shingleton and seconded by Trustee Espino to approve Resolution
No. FWLDC-2015-05, Authorizing a Lease Agreement with Anchor Fabrication, Inc., for
Property Located at 4600 Blue Mound Road, a 224,800 Square Foot Industrial Facility. The
motion passed 9-0.
D. Discussion and Consideration of a Resolution to Authorize a Short -Term Lease
Agreement with Anchor Fabrication, Inc., for Property Located at 4700 Blue Mound
Road for Storage of Materials
Mr. Robert Sturns, Interim Economic Development Director, provided a PowerPoint
presentation titled as above. He advised that this property was a short-term lease by Anchor
CITY OF FORT WORTH, TEXAS
FORT WORTH LOCAL DEVELOPMENT CORPORATION
TUESDAY, NOVEMBER 17, 2015
PAGE
Fabrication, Inc., to store materials while the company was moving to their new location at 4600
Blue Mound Road. He summarized the terms of the lease and recommended the Board approve
the resolution.
Trustee Espino requested staff provide at a future meeting an analysis of the benefits of leasing
the Corporation's property versus selling the property.
Motion was made by Trustee Shingleton and seconded by Trustee Espino to approve Resolution
No. FWLDC-2015-06, Authorizing a Short -Term Lease Agreement with Anchor Fabrication,
Inc., for Property Located at 4700 Blue Mound Road for Storage of Materials. The motion
passed 9-0.
E. Discussion and Consideration of a Resolution to Authorize a Leasing Commission
Agreement with Transwestern Commercial Services, Fort Worth, LLC for Property
Located at 4600 Blue Mound Road.
Mr. Robert Sturns, Interim Economic Development Director, provided a PowerPoint
presentation titled as above and advised the Board that this was a standard lease commission
agreement. He summarized the terms of the commission agreement and added that total
commission payments for the full term of the lease would be approximately $85,000.00. He
recommended the Board approve the resolution.
Motion was made by Trustee Espino and seconded by Trustee Price to approve Resolution No,
FWLDC-2015-07, Authorizing a Leasing Commission Agreement with Transwestern
Commercial Services, Fort Worth, LLC for Property Located at 4600 Blue Mound Road. The
motion passed 9-0.
F. Discussion and Consideration of a Resolution to Authorize a Listing Agreement with
Vasseur Commercial Real Estate, Inc., for Property Located at 4700 Blue Mound Road,
a 130,000 Square Foot Industrial Facility
Mr. Robert Sturns, Interim Economic Development Director, provided a PowerPoint
presentation titled as above. He explained that the listing agreement was for a three-month term
starting with the Board's approval and then going month -to -month. He added that the Broker's
fee was a commission of 4.5 percent of the gross rent amount unless another broker or agent
representing the tenant was involved (including any broker or agent with Vasseur), then the
commission was 6.5 percent. He further stated that the commission payment would be paid over
the term of the lease and recommended the Board approve the resolution.
Motion was made by Trustee Shingleton and seconded by Trustee Espino to approve Resolution
No. FWLDC-2015-08, Authorizing a Listing Agreement with Vasseur Commercial Real Estate,
Inc., for Property Located at 4700 Blue Mound Road, a 130,000 Square Foot Industrial Facility.
The motion passed 9-0.
5. Executive Session — President Bivens stated that she had been advised that an Executive
Session was not necessary.
CITY OF FORT WORTH, TEXAS
FORT WORTH LOCAL DEVELOPMENT CORPORATION
TUESDAY, NOVEMBER 17, 2015
PACE
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; and
B. Discuss the purchase, sale, lease br 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 relating to any economic development
negotiations, as authorized by Section 551.087 of the Texas Government Code.
6. Requests for Future Agenda Items.
President Bivens opened the floor on requests for future agenda items.
Trustee Price requested staff provide an occupancy listing of all Corporation property that
reflected the income, location and terms for each property.
Trustee Espino requested staff provide a report on the purpose of the Fort Worth Local
Development Corporation and how it was being used to promote economic development.
7. Adjourn.
With no further discussion, President Bivens adjourned the meeting of the Fort Worth Local
Development Corporation Board at 1:27 p.m. on Tuesday, November 17, 2015.
These minutes approved by the Foil Worth Local Development Corporation Board of
Directors on the 2" d day of February, 2016.
Prepared and respectfully su�ted by:
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Maiy J. Kayser v1C
City Secretary