HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-2025-02RESOLUTION NO. FWLDC-2025-02
FORT WORTH LOCAL DEVELOPMENT CORPORATION RESOLUTION
OF THE BOARD OF TRUSTEES
Authorizing the Allocation of $500,000.00 for Third Party Vendors Promoting the City of Fort
Worth and Authorizing an Agreement with the Fort Worth Economic Development Partnership
to Manage the Promotional Strategies and Vendors at No Cost
WHEREAS, the Fort Worth Local Development Corporation ("FWLDC") was created in
1987 to assist the City of Fort Worth ("City") with, among other things, the creation of jobs and other
economic development activities of the City;
WHEREAS, the Fort Worth Economic Development Partnership ("FWEDP"), a Texas non-
profit corporation, was created in 2023, to aid, promote, and further economic development and job
creation within the City of Fort Worth;
WHEREAS, FWLDC and FWEDP have agreed to enter into an agreement whereby the
FWEDP will develop and manage promotional strategies for economic development and job creation
within the City of Fort Worth, including the management of third party vendors to support those
efforts, and the FWLDC will allocate up to $500,000 for the payment of third party vendors working
in support of the promotional activities in support of this agreement;
WHEREAS, the FWLDC currently enjoys a healthy available fund balance;
WHEREAS, it is recommended that the administrative staff of FWLDC be authorized to (i)
execute an agreement with the Fort Worth Economic Development Partnership to manage
promotional strategies for economic development and job creation within the City of Fort Worth and
manage third party vendors supporting the same at no cost and (ii) allocate and expend up to $500,000
for third party vendors under the management of the Fort Worth Economic Development Partnership
acting in support of this agreement.
NOW, THEREFORE, BE IT RESOLVED THAT:
The Corporation administrative staff is authorized to (i) execute an agreement with Fort Worth
Economic Development Partnership to manage promotional strategies and manage third party
vendors supporting the same at no cost and (ii) allocate and expend up to $500,000 for third party
vendors under the management of the Fort Worth Economic Development Partnership.
Adopted tlis January 14, 2025.
am
Attest:
By.
anisette S. Goodall, City Secretary