HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-2011-03RESOLUTION NO. FWLDC-2011-03
FORT WORTH LOCAL DEVELOPMENT CORPORATION
RESOLUTION
OF THE BOARD OF TRUSTEES
Execute a Development Management Agreement with L2L-Lancaster, LLC,
for an Amount Not to Exceed $535,500. 00for the Lancaster Project
Located Between Throckmorton Street and Monroe Street
WHEREAS, Fort Worth Local Development Corporation ("Corporation") is involved in
a potential mixed use project to be constructed along Lancaster Boulevard between
Throckmorton and Monroe (the "Project");
WHEREAS, L2L-Lancaster, a Texas limited liability company, ("Consultant") has
proposed to serve as a development and construction management consultant; and
WHEREAS, Corporation and Consultant desire to enter into a Development Management
Agreement (the "Agreement") related to the Project.
NOW, THEREFORE, BE IT RESOLVED that the Corporation hereby authorizes an
Agreement with Consultant authorizing Consultant to carry out, on behalf of Corporation, all
development and construction management services and related activities as directed by
Corporation; and
FURTHER RESOLVED, that the Corporation authorizes an initial payment to
Consultant in an amount not to exceed $535,000 for pre -development activities; and
FURTHER RESOLVED, that the Secretary or any Assistant Secretary of the
Corporation is hereby authorized and directed to execute the Agreement and certify the adoption
of this Resolution.
Adopted this 71h day of June, 2011.
By:
Carter Burdette
Secretary