HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-2014-05RESOLUTION NO. FWLDC-2014-05
FORT WORTH LOCAL DEVELOPMENT CORPORATION
RESOLUTION
OF THE BOARD OF TRUSTEES
Approving the Renewal of a Lease with A&R Logistics, Inc. for
Premises located at 1381 Meacham Road
WHEREAS, Fort Worth Local Development Corporation ("Corporation") is the owner of
real property located at 1381 Meacham Road ("Property"), which Property is improved with a
large parking area and a 12,317 square foot building, among other improvements ("Premises");
WHEREAS, Corporation entered into a lease ("Lease") with A&R Logistics, Inc., an
Illinois corporation, for the Premises, pursuant to a resolution approved by the Corporation on
April 6, 2010, for the purpose of maintaining, parking and cleaning tractor trailer trucks; and
WHEREAS, the Lease expires on April 6, 2015 and Corporation and A&R Logistics, Inc.
desire to renew the Lease by entering into a new lease agreement for the Premises.
NOW, THEREFORE, BE IT RESOLVED that the Corporation hereby authorizes a
lease with A&R Logistics, Inc. that provides the following:
(1) A term of five (5) years, effective as of April 7, 2015, and ending on April 6, 2020;
(2) Rental paid by A&R Logistics, Inc. in the amount of $7,000 per month for the first
two years and then would increase 2 %2% each year thereafter; and
(3) All other terms of the lease shall remain the same as the original Lease.
FURTHER RESOLVED, that the Secretary or any Assistant Secretary of the
Corporation is hereby authorized and directed to certify the adoption of this Resolution.
Adopted this 5th day of August, 2014.
Byoe4—,
Secretar