HomeMy WebLinkAboutContract 62031-A1CSC No. 62031-A1
FIRST AMENDMEN T TO CONTRACT OF SALE AND PURCHASE
THIS FIRST AMENDMENT TO CONTRACT OF SALE AND PURCHASE (this "Amendment")
is effective as of the 30th of October 2024 ( the "Effective Date"), by and between the City of Fort Worth,
Texas, a home-rule Municipal Corporation of the State of Texas ("Purchaser") and BKV North Texas,
LLC, a Texas limited liability company ("Seller").
WITN ES SETH: ----------
WHEREAS, Seller and Purchaser entered into that certain Contract of Sale and Purchase dated
August 22, 2024 (the "Agreement") regarding the sale by Seller to Purchaser of approximately 2.37 acres
of real property known as Lot 3A, Block 4, Bridgewood Village, an addition to the City of Fort Worth,
Tarrant County, Texas, according to the plat recorded in Volume 388-216, Page 26, Deed Records of Tarrant County, Texas (TAD Account No. 06256201); and
WHEREAS, Seller and Purchaser desire to amend the Agreement pursuant to the terms and
conditions set forth herein.
NOW, THEREFORE, in consideration of the foregoing premises, the mutual covenants herein
contained, and for other good and valuable consideration, the receipt of which is hereby acknowledged,
Seller and Purchaser hereby enter into this Amendment.
1.Recitals. The foregoing recitals are hereby affirmed by the parties as true and correct andeach such rec ital is incorporated herein by this reference. Unless otherwise defined herein, capitalized terms
used in this Amendment shall have the meanings ascribed to such terms in the Agreement.
2.Closing Deadline. Section 7 of the Agreement is hereby deleted and the following is
inserted in lieu thereof:
Section 7. Closing Deadline. The closing ("Closing") of the sale of the Property by Seller to
Purchaser shall occur through the office of the Title Company on or before November 8, 2024.
3.General. Except as expressly modified by this Amendment, the Agreement remains in full
force and effect in accordance with its terms. In the event of any conflict between this Amendment and the Agreement, the terms of this Amendment shall control. This Amendment shall be binding upon and inure
to the benefit of the parties hereto, and their respective successors, assigns, heirs and personal
representatives.
4.Counterparts. To facilitate execution of this Amendment the parties may execute thisAmendment in counterpart and exchange signatures by electronic delivery of a PDF copy of the executed
Amendment (including by way ofDocuSign or other similar electronic signature exchange software), whi:h
PDF copy shall be deemed valid and binding.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the day and year first
written above.
[ signature page follows]
PURCHASER:
CITY OF FORT WORIB, TEXAS
PNYk $u,��� By: DanaBurghdott(Oct \2024�cDT)
Dana Burghdoff, Assistant City Manager
Date: 10/31/2024 ---------------
ATIEST: r"�
Jannette S. Goodall City Secretary
APPROVED AS TO LEGALITY AND FORM:
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Matthew A Murray
Assistant City Attorney
M&C: M&C 24-0803
Date: September 17, 2024
Contract Compliance Manager:
Marilyn Marvin, Director
Property Management Department
By signing I acknowledge that I am the person responsible for the monitoring and administration ofthi<;
contract, including ensuring all performance and reporting requirements. 7z;._�-r
Ricky Salazar, Assistant Director
Property Management Department -Real Estate Division
SELLER:
BKV NORTH TEXAS, LLC
By:---------------
Title:
Date: ______________ _
-2-
-2-
PURCHASER:
CITY OF FORT WORTH, TEXAS
By:
Dana Burghdoff, Assistant City Manager
Date:
ATTEST:
Jannette S. Goodall
City Secretary
APPROVED AS TO LEGALITY AND FORM: APPROVAL:
________________________ ________________________
Matthew A. Murray Marilyn Marvin, Director
Assistant City Attorney Property Management Department
M&C: M&C 24-0803
Date: September 17, 2024
Contract Compliance Manager:
By signing I acknowledge that I am the person responsible for the monitoring and administration of this
contract, including ensuring all performance and reporting requirements.
Ricky Salazar, Assistant Director
Property Management Department Real Estate Division
SELLER:
BKV NORTH TEXAS, LLC
By:
Title: __________________________________
Date:
CITY COUNCIL AGENDA
Create New From This M�C
DATE: 9/17/2024 REFERENCE NO.: **M&C 24-0803 LOG NAME:
CODE: G TYPE: CONSENT PUBLIC
HEARING:
FORT �'�'ORTH
-��
21 CPN 105746 6500
BRIDGE ST
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SUBJECT: (CD 5) Authorize the Fee Simple Acquisition of Approximately 2.37 Acres of
Property Located at 6500 Bridge Street, Fort Worth, Tarrant County, Texas 76112 from
BKV North Texas, LLC in the Amount of $600,000.00, Authorize the Payment of Closing
Costs in an Amount Up to $8,000.00 for a Total Cost of $608,000.00 for the Acquisition of
Property Located alongside the Environmental Collection Center, Adopt Appropriation
Ordinance, Authorize Appropriated Transfers, and Amend the Fiscal Years 2024-2028
Capital Improvement Program
RECOMMENDATION:
It is recommended that the City Council:
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Authorize the fee simple acquisition of approximately 2.37 acres of property known
as Lot 3A, Block 4, of Bridgewood Village, an addition to the City of Fort Worth, Tarrant
County, Texas and located at 6500 Bridge Street, Fort Worth, Texas 76112 from BKV North
Texas, LLC for acquisition of property located alongside the Environmental Collection Center
for future, long-range solid waste planning in the amount of $600,000.00;
Authorize the payment of estimated closing costs and appraisal fees in an amount up
to $8,000.00;
Authorize the City Manager or his designee to accept the conveyance and execute and record
the appropriate instruments;
Authorize transfers within the Solid Waste Capital Projects Fund in the amount of
$608,000.00;
Adopt the attached appropriation ordinance adjusting estimated receipts and appropriations
in the Solid Waste Capital Projects Fund by increasing estimated receipts and appropriations
in the ECC Expansion Project (City Project No. 105746) in the amount of $608,000.00 and
decreasing estimated receipts and appropriations in the SW Admin Office Consolidation
Project (City Project No. 100599) by the same amount for the purpose of funding the fee
simple acquisition of 6500 Bridge Street, Fort Worth, Texas 76112; and
Amend the Fiscal Years 2024-2028 Capital Improvement Program.
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to authorize the fee simple
acquisition of property located at 6500 Bridge Street (the Property) from BKV North Texas, LLC (BKV)
that is situated alongside the Environmental Collection Center.
BKV has agreed to sell the Property to the City of Fort Worth (City) for $600,000.00. The purchase
price is supported by an independent appraisal. The mineral estate will not be acquired and the
deed will contain a surface use waiver for the exploration of the mineral estate. The real estate taxes
will be pro-rated with BKV being responsible for taxes up to the closing date. The City will pay closing
costs in an amount up to $8,000.00.
Legal Description Purchase Closing Total
Price Costs
Bridgewood $600,000.00 $8,000.00 $608,000.00
Village, Lot 3A, Block 4
Funding for this project was not included in the FY2024-2028 Capital Improvement Program because
property had not previously been available for purchase. The action in this M&C will amend
Environmental Services' contribution to the Fiscal Years 2024-2028 Capital Improvement Program as
approved in connection with Ordinance 26453-09-2023, as follows:
Capital Fund
Name
Project
Name
App opriations Authority A paopr at olns PTotal t
54002 - Solid
Waste Capital
Projects Fund
Project Total
105746 -
ECC
Expansion
$0.00 This M&C
Rec 4
$0.00
$608,000.00 $608,000.00
$608,000.00 $608,000.00
Funding is budgeted in the General Solid Waste Capital Projects Fund for the Property Management
Department for the purpose of funding the acquisition of property alongside the Environmental
Collection Center to support future, long-range solid waste planning. There are no specific plans to
expand the Environmental Collection Center operations at this time. This purchase is intended to
secure adjacent land listed for sale by the owner to allow for long-range solid waste planning in the
future.
This project is located in COUNCIL DISTRICT 5.
FISCAL INFORMATION/CERTIFICATION:
The Director of Finance certifies that funds are currently available in the Solid Waste Capital Projects
Fund and upon approval of the above recommendations and adoption of the attached appropriation
ordinances, funds will be available in the Solid Waste Capital Projects Fund to support the approval of
the above recommendations and the acquisition of the property alongside the Environmental
Collection Center. Prior to an expenditure being incurred, the Property Management
and Environmental Services Departments have the responsibility of verifying the availability of funds.
FROM
Fund Department Account Project Program Activity Budget Reference # Amount
ID ID Year (Chartfield 2)
Submitted for City Manager's Office by_ Dana Burghdoff (8018)
Originating Department Head:
Additional Information Contact:
ATTACHMENTS
Marilyn Marvin (7708)
Ricardo Salazar (8379)
21CPN 105746 6500 BRIDGE ST.docx (CFW Internal)
21CPN 105746 6500 BRIDGE ST.xlsx (CFW Internal)
6500 Bridge Street.pdf (CFW Internal)
certificate of interested parties.pdf (CFW Internal)
ORD.APP 21CPN 105746 6500 BRIDGE ST 54002 A024(r5).docx (Public)