The URL can be used to link to this page

Home My WebLink About025462 - Construction-Related - Contract - Dunhill Properties, Ltd.R CITY SECRETARY '/ h CONTRACT NO . r�j �'`f' � v� STATE OF TEXAS § COUNTY OF TARRANT § ASSIGNMENT OF RIGHTS UNDER EARNEST MONEY CONTRACT TO PURCHASE REAL PROPERTY WHEREAS, that certain Earnest Money Contract for the purchase of approximately 149.975 acres of land (the Property) out of the J. Wilcox Survey, Abstract No. 1719 and the J. Wilcox Survey, Abstract No. 1718, Tarrant County, Texas (as more specifically described in the attached and incorporated Exhibit A), was entered into effective September 25, 1999, by Dunhill Properties, Ltd., a Texas limited partnership, as Seller and the Friends of the Fort Worth Nature Center and Refuge, Inc., a Texas nonprofit corporation, as Purchaser; and WHEREAS, Section 14 of the Earnest Money Contract provides that Purchaser's rights may be assigned, with the consent of the Seller, to a municipality; and WHEREAS, the Property is situated adjacent to the Fort Worth Nature Center and Refuge (the Nature Center) and the City of Fort Worth, Texas (the City) desires the assignment of Purchaser's rights to acquire the Property in order to protect the esthetic qualities for the entrance of the Nature Center and to insure minimal environmental impact from the existing commercial development; and WHEREAS, Purchaser has conducted a fund raising campaign to assist the City in the payment of the purchase price for the Property and payment of related costs; NOW, THEREFORE, PURCHASER AND CITY AGREE AS FOLLOWS: 1. For value received, Purchaser, without being released from its obligations thereunder, hereby assigns all of its rights and obligations under the Earnest Money Contract to the City. City hereby accepts the assignment and agrees to assume and perform all duties to be performed by the Purchaser under the Earnest Money Contract. City acknowledges that the excess of the fair market value of the Property over the cash consideration paid for the Property as per the Earnest Money Contract is intended by Seller to constitute a charitable contribution to Purchaser/City, and City agrees to accept such excess value as a charitable contribution from Seller. 2. Purchaser shall pay to the City, on or before the Closing Date, as specified in the Earnest Money Contract, an amount equal to $100,000 to partially defray the Purchase Price for the Property, from contributions received by the Purchaser for that purpose. In addition, Purchaser shall reimburse the City in the additional amount of $150,000 of the Purchase Price upon approval of a matching grant from the National Fish and Wildlife Federation, said amount consisting of $100,000 from contributions received by Purchaser and $50,000 from the grant. In the event that the grant is not approved, Purchaser shall pay to the City the $100,000 in contributions and shall use its best efforts to raise the additional $50,000 from other sources and contribute same to the City. U�I�VCOI�t� 6`?L�� °`� C�� Q� ' Q� U Ue UUtl��a) '�"""� x. 3. This agreement was authorized by the Fort Worth City Council by its adoption of M&C L-/�G�� y on December / y, 1999. � EXECUTED this e��- day of IJ�°c�•�.,1.> �• . CITY OF FOR WOR , TEXAS 1 BY: s � �., • �� - City M ager FRIENDS OF THE FORT WORTH NATURE CENTER AND REFUGE, INC. (Purchaser BY: ,l�" William . Meadows Chair, Nature Center Endowment Committee CONSENT TO ASSIGNMENT: , 19 `l `� ATTESTED BY :— � � -" � l� 7 Contract Authorization %��-/��I�I �ate Dunhill Properties, Ltd., Seller under the above referenced Earnest Money Contract, hereby consents to this assignment. DUNHILL PROPERTIES, LTD., a Texas limited partnership BY: AVO, LLC, A Texas limited liability company Its General Partner • � �� J s C. Thomason, President N`.� EXHIBIT "A" / � . �� FIELD NOTES Descripfi.ion 1or a 149.975 acre tract of land out of Ehe J. AfILCOX SURti'El�', � Abstract No. 1719 and the J. WILCOX SURVEY, Abstract No. 1718, Tarrant '''r County, Texas. • �� COMMENCING at a 2" iron pipe for �the Southeast cornei of said 190.6156 acre tract, said pipe lying at the intersection of the existin �ifeskerly line �of Bufialo Road With the Northeasterly line of State Higfixay 199 �Jacksboro Highxay), thence N.42 ' 16'30"W., 23.66, thence N.02'52'56"W, 155.16 feeti, thence - N.00'57'1.2"E., 162.02 feet, thence N.O1'07'46"E., 779.48 feefi., thence N.12'39'33"W., 529.36 feel, thence N.14'Q2'18"W., 87.29 teet, thence � N.12'49'21"W., 299.73 feet, and N.1Q'22'21"W., 200.27 ieet to a;�" iron set for . the POINT OF BEGINNING; �� THENCE S.77'09'31"W., 1210.25 feet to a�Z" iron set in the Easf. lii�e of Nine Mile Bridge Road; � THENCE N.31°26'17"`Y., continuing wii.h the East line of said road, 672.56 feet to a�Z" irori set; � . a THENCE N.33 °42' 17"t�'., continuing with the East line of said road, 208.28 feet - g � to a }�" iron sei; , � TNENCE N.47'22'17"W., continuing with the Easl line of said road, 180.57 feet to a �" iron set; THEI3CE N.48'06' 17"Yt., contiiiuing with the East line of said road, 262.55 f eet to a �" iron set; THENCE N.35 ° 06' 17"VY., continuing with ihe East line of said road, 149.67 f eet to a �" iron set; . . � THENCE N.28'37'1G"W., continuing with the East line oi said road, 202.67 feet to a �" iron set; � THENCE N.17' 08' 17"9F., continuing with the East line of said road, 571.75 feet to a �Z" iron set; THENCE 5.89' 12'S6"�., 524.45 feef. to a�Z" iron set in Nine Mile Bridge Road; . THENCE N.00' I5'02"E., 1342.44 feet io a�" iron found; . THENCE N.89'50'02"E., 771.47 feet to a 2" pipe found; THENCE 5.00' 12'32"E., 39.55 feet to a 2" pipe found; THENCE N.89'S1'S3"E., 1844.42 feet tv a}�" iron found in the �iest line of that certain Save and Except �act 1 as recorded in Volume 11126, Page 1268, D.R.T.C.T.; ' THENCE 5.00'24'38"E., ��rith the West line of said Save and Except tract, � 1254.05 feet to a�" iron found; � THENCE 5.06' 43'49"E., continuing vrith the West line of said tract, 1121.38 ieet to a �Z" iron found; , THENCE S.06' 11'48"E., continuing with the West line of said tract, 183.66 feet to a �Z° iron f ound; THENCE S.10°22'21°E., continuing with the �Pest line of said tract, 380.700 feet to the POINT OF BEGINNING and containing 149.975 acres of Iand. City of Fo�t Worth, Te.xas A ar And� Cauncil L.ammun�c�t�an ry� y DATE REFERENCE NUMBER ' LOG NAME PAGE � � 12/14/99 L-i 2684 � 80NATURE � 1 of 3 SUBJECT ACQUISITION OF LAND FOR �ORT WORTH NATURE CE TER AND REFUGE RECOMMENDATION,: It is recommended that the City Council: 1. Authorize the City Manager to execute an agreement with the Friends of the Fort Worth Nature .� Center for the acquisition� and donation of approximately 150 acres of undeveloped property. adjacent to the entrance road of the Fort Worth Nature Center and Refuge; and � �' 2. Adopt the related supplemental appropriation ordinarice to: (a) fncrease the Water and Sewer Operating Fund approPriations in the amount of $400,000, and decrease the Unreserved, Undesignated Retained Earnings of the Water and Sewer Operating Fund by the same amount to transfer to the Lake Worth Trust Fund; and (b) Approve the transfer of $400,000 from the Water and Sewer Operating Fund to the Lake Worth Trust Fund; and (c) Increase appropriations and estimated �eceipts by $500,000 in the Lake Worth Trust Fund for the purpose of acquiring the property, paying�closing costs,�and cleaning, fencing and securing the property; and � (d) Increase estimated receipts and appropriations in the Lake Worth Trust Fund by $100,000 from a contribution from the Friends of the Fort Worth Nature Center. � . DISCUSSION: The Fort Worth Nature Center and Refuge (FWNC&R) is the largest park in the City of Fort Worth and has an annual visitation of over 150,000 people per year that enter through a single entrance off State. Highway 199. West of and adjacent to the entrance road to the FWNC&R lies a 180-acre parcel of partly developed property. Early in the 1980's, the FWNC&R staff and the Nature Center Advisory Board recognized the possibility of further development of the property and the negative impact that such development would .have on the esthetic qualities of the entrance and the first impression of visitors. Other adverse impacts such as noise, invasive non-native plants and animals, and non-point source pollution could ultimately affect a much larger portion of the FWNC&R, . other than just the entrance area. Inquiries were made by the FWNC&R staff and the N�ture Center Advisory Board in the mid-1980's about possible purchase of the property and found that it was not for sale. During the 1990's the property. came on the market and was purchased for development. Once development of the 180-acre site was imminent, the FJiends of the Fort Worth Nature Center (the "Friends") and the City of Fort Worth began to look into acquiring the 180 acres for preservation as parkiand. The developer agreed to sell approximately 150 acres of the property to the Friends, prompting the establishment of a fund raising campaign for the purchase. City of Fort Worth, Texas �1✓�Ayar c�nd �auncyl C,ammunycAt�an � DATE REFERENCE NUMBER LOG NAME PAGE 12/14/99 � L-12684 I 80NATURE 2 of 3, SUBJECT ACQUISITION OF LAND FOR FORT WORTH NATURE CE TER AND REFUGE �� The Friends have entered into a contract for the purchase of the property from the owners, Dunhill Properties, Ltd. The contract allows for assignment of the Friends' purchase rights to the City of Fort ; Worth. The attached assignment agreement would accomplish the assignment and prescribes the ;� ,::. other terms of the agreement between the Friends and the City. The property has been appraised at x $1,349,775. The purchase price is $500,000, and the owners intend to treat the remainder as a�� charitable contribution. The City will pay the purchase price and purchaser's closing costs for .the �,: acquisition (an additional $100,000 is being appropriated to cover closing costs, as well as minor site �LL4 cleaning, fencing and securing the property), and the Friends will reimburse the City for $250,000 of the �.� purchase price. $100,000 of the Friend's share will be paid to the City at or before closing. An ; additional $100,000 commitment is being utilized to seek a matching $50,000 grant from the National�w, Fish & Wildlife Federation. Approval of the grant is expected to occur in December 1999, with funds �. available to reimburse the City in the amount of $150,000 in March 2000. � . The Friends, through its fund-raising campaign, received commitments for major contributions from the following individuals and entities: � � � � . 1. Amon Carter Foundation . . ' . 2. Armstrong Foundation � � . 3. Nature Center Endowment Fund 4. � Marty Leonard � � � � 5. Edward P. Bass - . � 6. Bank One Trust � 7. Garvey Texas Foundation � � 8. Richardson Foundation � . � 9. Ryan Foundation 10. Bob O'Kennon ' � There was also one major contributor that wishes to remain anonymous. In addition to the major contributions, the Friends rec�ived numerous smaller contributions from interested citizens, which has assisted them in meeting their goal. . � Financing of the City's portion will come from the unreserved, undesignated retained earnings of the Water and Sewer Operating Fund and the Lake Worth Trust Fund. � The purchase and addition of this property will protect the esthetic qualities for most of the entrance of the FWNC&R and ensure minimal environmental impact from the existing commercial development. The Fort Worth Nature Center and Refuge is in COUNCIL DISTRICT 7. City of Fo�t Wor�th, Texas �►�Ayor At1d C,�unc�[ C,ammun�cAt�an DATE REFERENCE NUMBER � LOG NAME PAGE 12/14/99 L-12684 I 80NATURE 3 of 3 SUBJECT ACQUISITION OF LAND FOR FORT WORTH NATURE CE TER AND REFUGE FISCAL INFORMATION/CERTIFICATION: The Finance Director certifies that upon approval of the supplementai appropriation ordinance, funds wili be available in the Water and Sewer Operating Fund and the Lake Worth Trust Fund. . LW:k Submitted for City Manager's Oftice by: Libby Watson Originating Department Head: Richard Zavala Additional Information Contact: Richard Zavala FUND (to) 26) FE70 G183 2D) FE70 � 5704 (from) 2C) FE70 • 2A&B)PE45 2D) FE70 5704 � I ACCOUNT � CENTER � AMOUNT 472045 080001002000 $400,000.00 472045 080001002000 $100,000.00 � 541100 080001002000 $500,000.00 538070 0609020 $400,000.00 541100 080001002000 $100,000.00 � CITY SECRETARY APPROVEQ C�TY ��!�I� �� `��, Citp Secrstat'y nt '�`s ' City of Fort �J�: i%� ':'�•- • .� ;;,,_ ��. . '. � . � �', ' f,l�.% �do�ted �rdinance N.o.�a�