HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2016-14RESOLUTION NO. FWHFC-2016-14
FORT WORTH HOUSING FINANCE CORPORATION
A RESOLUTION
APPROVING A NATURAL GAS LEASE WITH VANTAGE FORT WORTH ENERGY,
LLC FOR 2808 DILLARD STREET, 2709 MARLIN STREET, 5220 ANDERSON
STREET, AND 2514 WILLSPOINT COURT
WHEREAS, the Fort Worth Housing Finance Corporation (the "Corporation") owns
four unimproved tracts of land totaling .89 acres, more or less, commonly known 2808 Dillard
Street, 2709 Marlin Street, 5220 Anderson Street, and 2514 Willspoint Court (the "Properties");
WHEREAS, the Corporation has received a proposal for a lease of the minerals
underlying the Properties; and
WHEREAS, the Board of the Corporation desires to approve a lease of the minerals
underlying the Properties with Vantage Fort Worth Energy, LLC, for a two year primary term
that includes, among other things, a bonus per acre amount of $3,000.00 and royalty of not less
than 25%.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE FORT WORTH HOUSING FINANCE CORPORATION:
THAT the Board approves a lease of the minerals underlying .89 acres of land, more or
less, owned by the Corporation commonly known as 2808 Dillard Street, 2709 Marlin
Street, 5220 Anderson Street, and 2514 Willspoint Court (the "Properties") with
Vantage Fort Worth Energy, LLC, for a primary term of two years with a bonus per acre
of $5,000.00 and a royalty of not less than 25% (the "Lease").
2. THAT the Board approves the execution and delivery of the Lease along with any other
documents necessary to effectuate the transaction.
THAT Fernando Costa, General Manager of the Corporation, or Aubrey Thagard,
Assistant General Manager of the Corporation, are each authorized to execute and deliver
the Lease for and on behalf of the Corporation along with any related documents
necessary to complete the transaction, and each is authorized to extend, modify and
amend the Lease, provided that any such extensions, modifications or amendments are in
compliance with applicable laws and the policies, goals and purposes of the Corporation
as those are amended from time to time.
4. THAT this Resolution takes effect on the date of its adoption.
RESOLUTION NO. FWHFC-2016-14
PAGE 2
AND IT IS SO RESOLVED.
Adopted June 7, 2016.
FORT WQRTPJ HOUSING FINANCE CORPORATION
Kelly Alen Gray, Vice