City Secretary Contract No. 11107 dated June 5, 1980 (Contract) granted CentrePort Venture, L.P., an exclusive option to purchase the city-owned property formerly known as the Greater Southwest International Airport. The Contract was subsequently amended and supplemented by CSC No. 12937, No. 13060, No. 15392, No. 16815, No. 18299 and No. 35324.
The Contract, as amended and supplemented, requires each conveyed property to be subject to an Avigation Easement and Release. In addition, it also requires that any assignment or partial assignment of the Contract by CentrePort be approved by the City of Fort Worth (City). CentrePort DFW Development, LLC., has requested that the Option that covers approximately 19.663 acres, described as follows, be assigned to LCP Centreport Apartments II, LLC.
In accordance with the Contract, LCP Centreport Apartments II, LLC., has requested to exercise its option to purchase approximately 19.663 acres of land in the Vincent J. Hutton Survey, A-681, City of Fort Worth, Tarrant County, Texas and will execute and record an Avigation Easement and Release for the property being conveyed.
|Parcel ||Buyer ||Legal Description ||Acreage|
|LCP Centreport Apartments II, LLC||Vincent J. Hutton Survey, Abstract 681|
In accordance with the Contract, as amended and supplemented, the City will retain a 50 percent mineral interest in the property.
The property is located in COUNCIL DISTRICT 5.
This M&C does not request approval of a contract with a business entity.