HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-2013-05RESOLUTION NO. FWLDC-2013-05
FORT WORTH LOCAL DEVELOPMENT CORPORATION
RESOLUTION
OF THE BOARD OF TRUSTEES
Authorizing the Substitution of the Fort Worth Local Development Corporation
as Sole Managing Member of the Lancaster Corridor Redevelopment, LLC
WHEREAS, the Fort Worth Local Development Corporation ("Corporation") has been
involved in the development of a proposed mixed use project located along Lancaster Avenue
between Throckmorton Street and Jennings Street, and between Jennings Street and Monroe
Street in order to promote revitalization of the area and to benefit the citizens of Fort Worth by
creating affordable housing, retail, jobs and commercial opportunities in an area in need of
revitalization ("Project");
WHEREAS, the Lancaster Corridor Redevelopment, LLC ("LLC") a sole purpose entity
created to facilitate the development of the Project and which is the owner of the Project;
WHEREAS, on May 23, 2013, the Lancaster Place Apartments project received an
invitation from the United States Department of Housing and Urban Affairs to submit a pre -
application for a HUD 221(d)(4) loan for the project by August 23, 2013, which pre -application
requires certain submittals including architectural design drawings, market studies, surveys, civil
engineering, and the payment of a pre -application fee.
WHEREAS, to eliminate certain disclosure requirements in connection with the HUD .
loan, the Company desires to change its management structure such that the Corporation, as the
Company's sole member, will hereafter manage the Company.
WHEREAS, the Corporation, as the Company's sole member, desires to amend the
Certificate of Formation of the Company to identify the Company's new management structure.
NOW, THEREFORE BE IT RESOLVED, that the Certificate of Amendment to the
Certificate of Formation of the Company that is attached hereto as Exhibit "A" be, and the same
hereby is, adopted.
FURTHER RESOLVED, that any officer of the Corporation is authorized to execute
said Certificate of Amendment on behalf of the Corporation, as sole member of the Company,
and seek its filing with the Secretary of State of the State of Texas.
FURTHER RESOLVED, that the Secretary or any Assistant Secretary of the
Corporation is hereby authorized and directed to certify the adoption of this Resolution.
RESOLUTION NO. FWLDC-2013-05
PAGE 2
Adopted this,"' day of August, 2013.
CERTIFICATE OF AMENDMENT
OF
LANCASTER CORRIDOR REDEVELOPMENT, LLC
Lancaster Corridor Redevelopment, LLC, a Texas limited liability company, acting
pursuant to the provisions of Section 22.107 of the Texas Business Organizations Code, hereby
adopts this Certificate of Amendment:
Article One
Entity Information
1. The name of the limited liability company is Lancaster Corridor Redevelopment,
LLC (the "Company").
2. The file number issued to the corporation by the Secretary of State is 801503613.
3. The date of formation of the corporation is November 4, 2011.
Article Two
Amendment
This Certificate of Amendment amends the Certificate of Formation of the limited liability
company to change Article VI. The text of Article VI is hereby deleted in its entirety and is
replaced with the following text:
Article VI
MANAGEMENT
The Company will not have managers. The Company is to be managed by
its sole member, Fort Worth Local Development Corporation (previously defined
as the "Member"). The address of the Member is as follows: 1000 Throckmorton
Street, Third Floor, Fort Worth, Texas 76102.
Article Three
Statement of Approval
The amendment made by the Certificate of Amendment has been approved in the manner
required by the Texas Business Organizations Code and by the governing documents of the
Company.
Article Four
Effectiveness of Filing
The amendment to the Company's Certificate of Formation pursuant to this Certificate of
Amendment becomes effective when this Certificate of Amendment is filed by the Secretary of
State.
1512166
Article Five
Execution
The undersigned signs this Certificate of Amendment subject to the penalties imposed by
law for the submission of a materially false or fraudulent instrument and certifies under penalty of
perjury that the undersigned is authorized under the provisions of law governing the Company to
execute the filing instrument.
Dated the day of July, 2013.
Lancaster Corridor Redevelopment, LLC,
a Texas limited liability company
By: Fort Worth Local Development
Corporation, a Texas non-profit
corporation, its sole member
By:
Name:
Title:
1512166