HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-2021-05RESOLUTION NO. FWLDC-2021-05
RESOLUTION NO. FWLDC-2021-05
FORT WORTH LOCAL DEVELOPMENT CORPORATION
RESOLUTION
OF THE BOARD OF TRUSTEES
Authorizing the sale of n tract of land knofi,n as
3224 and 3217 Yuma, Fort Worth, Texas to
C3 Crate and Pallet Company LLC or its affiliate
WHEREAS, the Fort Worth Local Development Corporation ("Corporation") is the
owner of a tract of vacant land known as 3224 and 3217 Yuma, Fort Worth, Texas ("Property");
WHEREAS, the Property was acquired by the Corporation as part of a land transaction
with the City of Fort Worth, Fort Worth Independent School District, and Tarrant County that
resulted in the Corporation purchasing the Property for $41,431.27 in January 2009;
WHEREAS, the Property is approximately 13.5 acres but due to topography, erosion,
and utility easements, only 7.6 acres is usable; and no sewer line currently serves the Property;
and
WHEREAS, the Corporation desires to sell the Property because of the challenges to the
Corporation in ownership and development of the Property, including but not limited to the
required frequent monitoring due to illegal dumping and camping activity.
NOW, THEREFORE, BE IT RESOLVED that Corporation is hereby authorized to
sell the Property to C3 Crate & Pallet Company LLC or its affiliate ("Purchaser") for an amount
no less than $250,000 with the following requirements:
(1) Purchaser shall remove all illegally dumped items, unauthorized persons,
unauthorized encampments, and unauthorized personal property placement or
storage from the Property within 180 days of closing, provided that this
deadline may be extended with administrative approval;
(2) Purchaser provides a Deed of Trust to Secure Performance as a lien on the
Property for the benefit of Corporation to secure the required removal of
illegally dumped items, unauthorized persons, unauthorized encampments,
and unauthorized personal property placement or storage; and
(3) Purchaser pays all closing costs related to the conveyance of the Property.
FURTHER RESOLVED, that the President or Vice President is authorized to execute
all necessary instruments and documentation to effect the sale of the Property.
Adopted this 23rd day of June, 2021.
B y ..l..., ....'.....
Gyna Bivens, President