HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-2025-03RESOLUTION NO. FWLDC-2025-03
FORT WORTH LOCAL DEVELOPMENT CORPORATION
RESOLUTION
OF THE BOARD OF TRUSTEES
Rescinding Fort Worth LDC Resolution FWLDC-2024-07 and Authorizing Providing
$765,000.00 to the City of Fort Worth to Support the Engagement of AECOM to Provide
Technical Support for Southeast Downtown Projects, Including Texas A&M Fort Worth
Campus and the Fort Worth Convention Center
WHEREAS, the Fort Worth Local Development Corporation ("Corporation") was created
in 1987 to assist the City of Fort Worth (the "City") with, among other things, the creation of jobs
and other economic development activities of the City;
WHEREAS, a number of exciting opportunities are simultaneously underway in the
southeastern corner of Downtown Fort Worth that have the potential to reshape this sector of the
City and have a transformative effect on the future of the City as a whole;
WHEREAS, the development of a new Texas A&M Fort Worth campus, the
redevelopment and expansion of the Fort Worth Convention Center, the development of one or
more convention hotel projects, the creation of a possible high-speed rail hub, and the development
and redevelopment of multiple underutilized tracts of land (collectively, the "Southeast Downtown
Projects") will serve as transformational investments in downtown;
WHEREAS, supporting these and other projects in Southeast Downtown aligns with
purposes for which the Corporation was created;
WHEREAS, in order to optimize the Southeast Downtown Projects and help ensure that
the Southeast Downtown Projects properly coordinated and sequenced, it is advisable to enlist the
assistance of qualified professionals to provide planning, technical, and project development
assistance;
WHEREAS, the Corporation currently enjoys a healthy available fund balance;
WHEREAS, the City of Fort Worth has an on -going agreement with AECOM, a
recognized leader in the field of logistics and project planning;
WHEREAS, AECOM is the lead consultant for the City's Access Butler Place and
Connecting the Core Transportation Studies;
WHEREAS, it is recommended that the Corporation provide $765,000 from its available,
unencumbered fund balance to the City for purposes of engaging AECOM to provide technical
and planning assistance for the Southeast Downtown Projects; and
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WHEREAS, technical issues exist concerning a previously adopted resolution supporting
this project, which merit rescinding and replacing the prior resolution.
NOW, THEREFORE, BE IT RESOLVED, THAT:
Resolution No. FWLDC-2024-07 is hereby rescinded and is of no further force and
effect.
2. The Corporation administrative staff is authorized to provide $765,000.00 to the
City of Fort Worth to be used for purposes of engaging AECOM to provide technical, planning,
and project development assistance for the Southeast Downtown Projects and to execute a funding
or other agreement with the City, if necessary.
Adopted this February 25, 2025.
BE
Attest:
/ /'
�21-a
Gyna M. Bi ns
President
By?Jatnette
S. Goodall, Secretary
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