HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-2012-03RESOLTUION NO. FWLDC-2012-03
FORT WORTH LOCAL DEVELOPMENT CORPORATION
RESOLUTION
OF THE BOARD OF TRUSTEES
Authorizing the Assignment of an Agreement with
L2L-Lancaster, LLC to 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 Project is proposed to consist of multiple buildings with approximately
one hundred thirty residential units with a mix of market and affordable rents, 73,000 square feet
of office space, 33,000 square feet of retail space, and a parking garage;
WHEREAS, on June 7, 2011, the Board of Directors of Corporation, consistent with the
economic development objectives of the Corporation and to further the development of the
Project, approved the execution of an agreement ("Agreement")with L2L-Lancaster, a Texas
limited liability company, ("Consultant') for development and construction management
services and related activities as directed by Corporation; and
WHEREAS, Corporation desires to assign the Agreement to the Lancaster Corridor
Redevelopment, LLC, a sole purpose entity created to facilitate the development of the Project.
NOW, THEREFORE, BE IT RESOLVED that the Corporation is hereby authorized to
assign the Agreement to the Lancaster Corridor Redevelopment, LLC; and
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 6"' day of March, 2012.
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By: � ��,�1L
Frank Moss
President