HomeMy WebLinkAboutResolution Fort Worth Housing Finance Corporation (FWHFC) FWHFC-2015-10FA,,J]4,'SOLUTION APPROVING A NATURAL GAS LEASE WITH VANTAGE FORT
WORTH ENERGY, LLC FOR 3012 DILLARD STREET
WHEREAS, the Fort Worth Housing Finance Corporation (the "Corporation") owns an
unimproved lot totaling 0.6757 acres, more or less, commonly known as 3012 Dillard Street (the
"Property");
WHEREAS, the Corporation has received a proposal for a lease of the minerals
underlying the Property; and
WHEREAS, the Board of the Corporation desires to approve a lease of the minerals
underlying the Property 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%.
I
310 wrommenwal "I'ta-E-1 I I so I Z 1-91 'A 0=13 IN V so 5 so 0I IL a I 11m
I THAT the Board approves a lease of the minerals underlying 0.6757 acres of land, more
or less, owned by the Corporation commonly known as 3012 Dillard Street (the
"Property") with Vantage Fort Worth Energy, LLC, for a primary term of two years with
a bonus per acre of $3,000.00 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.
3. THAT Jesus J. Chapa, General Manager of the Corporation, or the Assistant General
Manager of the Corporation, or their duly elected or appointed successors, 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 are 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.
Adopted August 4,2015.
FORTI) W`)R-11 1-10 JSIN ',FINANCE CORPORATION
By
a lvador Espino, Presiden