HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-2024-04RESOLUTION NO. FWLDC-2024-04
FORT WORTH LOCAL DEVELOPMENT CORPORATION
RESOLUTION
OF THE BOARD OF TRUSTEES
Authorizing the Sale of 5401 East Berry Street and 5425 East Berry Street to Berry Stalcup
Redevelopment Partners, LLC in the amount of $886,551.00 For the Berry Stalcup
Redevelopment Project
WHEREAS, the Local Development Corporation ("LDC") owns two pieces of real
property at 5401 East Berry Street and 5425 East Berry Street (collectively, "Properties");
WHEREAS, Berry Stalcup Redevelopment Partners, LLC ("Developer") has been
working with the City of Fort Worth and the LDC to the Properties with commercial and residential
aspects ("Project"); and
WHEREAS, the LDC desires to sell the Properties at the fair market value of $886,551.00
to Developer in order to facilitate development of Project.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF
THE CORORATION:
1. That the Board approves the sale of the Properties to the Developer in the amount
of eight hundred eighty six thousand five hundred fifty-one dollars and no cents ($886,551.00).
2. That the Board approves the execution and delivery of all documents necessary to
effect and complete the sale of the Properties to the Developer or an affiliate, including a contract
for purchase and sale and a deed of trust.
3. That the President, Vice President, or any authorized signatory of the LDC is
authorized to execute all necessary instruments and documentation to effect and complete the sale
of the Properties.
Adopted this August 6, 2024.
By: ✓ l%
Name: Gyna ivens
Title: President
RESOLUTION NO. FWLDC-2024-04
PAGE 2
Attest:
By:
S. Goodall, Secretary
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