Official site of the City of Fort Worth, Texas |
City Council Agenda | |
COUNCIL ACTION: Approved As Amended on 3/28/2017 - Ordinance No. 22645-03-2017, 22646-03-2017 & 22647-03-2017 | |||||
DATE: | 3/28/2017 | REFERENCE NO.: | L-16018 | LOG NAME: | 21PMD 350 WEST BELKNAP STREET |
CODE: | L | TYPE: | NON-CONSENT | PUBLIC HEARING: | NO |
SUBJECT: | Authorize Execution of a Sale Agreement and Lease Agreement Relative to the Sale of a City Fee Property Located at 350 West Belknap Street to Tarrant County in the Amount of $13,500,000.00 and Pay Estimated Closing Costs Up To $40,000.00, Authorize Transfer of Sale Proceeds from the General Fund to the Solid Waste Fund and the General Capital Projects Fund and Adopt Appropriation Ordinances (COUNCIL DISTRICT 9) |
RECOMMENDATION: | ||||||||||||||||
It is recommended that the City Council: 1. Authorize the execution of a Purchase and Sale Agreement for the sale of a city fee property located at 350 West Belknap Street, Fort Worth, Texas, to Tarrant County in the amount of $13,500,000.00 and pay estimated closings costs up to $40,000.00; 2. Authorize the City Manager or his designee to execute and record the appropriate instrument conveying the property to complete the sale; 3. Authorize the execution of a Lease Agreement with Tarrant County for a portion of the property located at 350 West Belknap Street, Fort Worth, Texas, for use by the Police Department; 4. Adopt the attached ordinance increasing the estimated receipts and appropriations in the General Fund in the amount of $13,500,000.00 to reflect sale proceeds; 5. Authorize the transfer of $3,500,000.00 in sale proceeds from the General Fund to the Solid Waste Fund to effect repayment of a portion of an interfund loan from the Solid Waste Fund; 6. Adopt the attached ordinance increasing receipts and appropriations in the Solid Waste Fund in the amount of $3,500,000.00 for partial repayment of an interfund loan; 7. Authorize the transfer of $10,000,000.00 in sale proceeds from the General Fund to the General Capital Projects Fund for various infrastructure and facilities projects; and 8. Adopt the attached ordinance increasing the estimated receipts and appropriations in the General Capital Projects Fund, Police Facilities and Renovations Project, in the amount of $10,500,000.00. |
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DISCUSSION: | ||||||||||||||||
On April 3, 1979, Tarrant County and the City entered into an Agreement for the construction of the criminal justice complex located at 350 West Belknap Street. Both parties shared in the cost to construct the building and related improvements with the City receiving occupancy of the basement plus floors 1 through 4, and the County occupying floors 5 through 8. The building was completed in 1984 and serves as home for various Fort Worth and Tarrant County law enforcement operations.
Police personnel displaced on April 30, 2018 will be temporarily relocated to the former Police and Fire Training Academy located at 1000 Calvert Street.
In connection with the construction of the new public safety training facility, the City Council authorized interfund loans from the Solid Waste Fund totaling $20,522,957.00 for interim financing (M&C C-25798). Of that amount, $10,000,000.00 has already been repaid. Staff proposes using $3,500,000.00 from the current sale proceeds to pay a portion of the remaining balance of the interfund loan and will be requesting payment for the remainder from the Crime Control and Prevention District in a series of three payments beginning with Fiscal Year 2018. This property is located in COUNCIL DISTRICT 9, Mapsco 62Y. |
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FISCAL INFORMATION/CERTIFICATION: | ||||||||||||||||
The Director of Finance certifies that upon approval, all proceeds realized from the sale of the facility will be appropriated and transferred as outlined in the above Recommendations section. |
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Submitted for City Manager's Office by: |
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Originating Department Head: |
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Additional Information Contact: |
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