HomeMy WebLinkAboutFWRILGC-2026-01 - Research & Innovation Local Government Corporation (RILGC) - ResolutionRESOLUTION NO. FWRILGC-2026-01
RESEARCH AND INNOVATION LOCAL GOVERNMENT CORPORATION
AUTHORIZING EXECUTION OF THE FOURTH AMENDMENT TO THE
PREDEVELOPMENT AGREEMENT WITH AFWP LLC
WHEREAS, the Research and Innovation Local Government Corporation ("RILGC") and
City of Fort Worth selected AFWP LLC ("Developer") to develop the parcels on the TAMUS
downtown Fort Worth campus that do not include the Law and Education Building ("Research
Development");
WHEREAS, the RILGC and Developer entered into a Predevelopment Agreement
("Agreement") for the Research Development; and
WHEREAS, the RILGC and Developer have periodically amended the Agreement
throughout the term to refine the concept plan, add to the scope of work, and increase the
compensation amount under the Agreement;
WHEREAS, the work under the Agreement is now complete and a final project invoice in
the amount of Nineteen Thousand Two Hundred Forty -One and 51/100 Dollars ($19,241.51) has
been paid to the Developer;
WHEREAS, the parties, based on the final project invoice amount, would now like to
reduce the total compensation under the Agreement to the final amount of One Million Eight
Hundred Forty -Seven Thousand Five Hundred Sixty -Six and 51A00 Dollars ($1,847,566.51), and
formally terminate the Agreement;
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE RESEARCH AND INNOVATION LOCAL GOVERNMENT CORPORATION:
1. The RILGC is hereby authorized to enter into a fourth amendment to the Agreement
to reduce the total compensation amount under the Agreement from One Million Nine Hundred
Thousand and 00/100 Dollars ($1,900,000.00) to One Million Eight Hundred Forty -Seven
Thousand Five Hundred Sixty -Six and 511100 Dollars ($1,847,566.51), and formally terminate the
Agreement.
2. This Resolution takes effect from the date of its adoption.
RESOLUTION NO. FWRILGC-2026-01
PAGE 2
Adopted this April 28, 2026.
By:
Elizabeth Beck
President
Attest:
Jannette S. Goodall
Corporate Secretary