HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-2011-20RESOLUTION NO. FWLDC-2011-20
FORT WORTH LOCAL DEVELOPMENT CORPORATION
RESOLUTION
OF THE BOARD OF TRUSTEES
Authorizing the Sale of 1037 S. Freeway to the City of Fort Worth
WHEREAS, the Fort Worth Local Development Corporation ("Corporation") is the
owner of a tract of land known as 1037 South Freeway, Fort Worth, Texas ("Property");
WHEREAS, the Property was purchased by Corporation in 2008 to assist the City of
Fort Worth in its redevelopment efforts in the Evans and Rosedale area, bounded by the
Interstate Highway 35W Service Road, East Terrell Avenue, Missouri Avenue and East Rosedale
Street; and
WHEREAS, the City of Fort Worth ("Purchaser") desires to acquire the Property for a
sale of the Property to a developer who will further Purchaser's redevelopment efforts, and
Purchaser desires that Corporation assist it by conveying the Property to Purchaser
NOW, THEREFORE, BE IT RESOLVED that Corporation is hereby authorized to
sell the Property to Purchaser for the amount of $25,480.00;
FURTHER RESOLVED, that Corporation shall pay all closing costs relating to the
conveyance of the Property;
FURTHER RESOLVED, that Corporation shall except and reserve from the
conveyance of the Property all remaining oil, gas, and other minerals in and under and that may
be produced from 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; 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 December, 2011.
By J
Dennis/Shinglqt61j Secretary