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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