HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-2022-18RESOLUTION NO. FWLDC-2022-18
FORT WORTH LOCAL DEVELOPMENT CORPORATION
RESOLUTION
OF THE BOARD OF TRUSTEES
Approving the Sale of 911 E. Rosedale to Eellapo, LLC to Facilitate
the Development of the National Juneteenth Museum
WHEREAS, the Fort Worth Local Development Corporation ("Corporation") is the owner
of certain real property known as 911 E. Rosedale, Fort Worth, Texas 76104 (Tarrant Appraisal
District Account No. 03513432) (the "Property"); and
WHEREAS, the Property, approximately 0.1033 acres of vacant land, was acquired by
the Corporation from the City of Fort Worth on June 30, 2009; and
WHEREAS, on September 13, 2022, the City Council of the City of Fort Worth approved
a resolution supporting the development of a National Juneteenth Museum to increase tourism and
educational opportunities and to benefit the public by offering opportunities to address challenging
parts of the City's and the nation's past, to enhance understanding, and to further community
healing; and
WHEREAS, the Corporation desires to sell the Property to Eellapo, LLC to facilitate the
development of the National Juneteenth Museum; and
WHEREAS, the Corporation and Eellapo, LLC agree that the Property will be sold on an
"as -is" basis and include a requirement that the Property may be repurchased by the Corporation
in the event that the Property is not developed solely for the National Juneteenth Museum; and
WHEREAS, the Corporation and Eellapo, LLC agree that the Property will be sold
through a purchase and sale contract with a six-month option period which may be extended by
Eellapo, LLC for an additional six months and that Eellapo, LLC will pay all closing costs.
NOW, THEREFORE, BE IT RESOLVED that the Corporation is hereby authorized to
sell the Property to Eellapo, LLC, or an affiliate, ("Purchaser") for the amount of Fifty -Four
Thousand Nine Hundred Dollars and 00/100 ($54,900.00) in accordance with Broker's Price
Opinions and with a requirement that the Property may be repurchased by the Corporation in the
event that the Property is not developed solely for the National Juneteenth Museum.
FURTHER RESOLVED, that the President or Vice President is authorized to execute all
necessary instruments and documentation to effect the sale of the Property.
Keso|wbmn—PWODC-2022'lX
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Adopted this November Zq,3022.
Alan Blaylock
Vice President
Attest:
. A - AA k 3
Jannette S. Goodall
Corporate Secretary