Fort Worth Independent School District Ionwave #26-086

Fort Worth ISD Solicits Proposals for Purchase and Development of Land Surrounding Farrington Field

This opportunity involves the sale or ground lease and development of seven tracts of land surrounding Farrington Field stadium by the Fort Worth Independent School District (ISD): - Government Buyer: - Fort Worth Independent School District (ISD), Procurement Services Department - Products/Services Requested: - Purchase or ground lease of seven individual tracts of real property adjacent to Farrington Field stadium - Real estate development services, including site planning, construction, and compliance with all RFP requirements - Notable Requirements: - Proposals may be submitted for one or more tracts, with flexibility to propose on all or some of the available land - Two transaction structures: one with, and one without, District participation in a Tax Increment Reinvestment Zone (TIRZ) - If TIRZ participation (Option #2) is selected, a minimum of $250 million in capital investment is required by the end of the development period - Mandatory preservation of historic aspects of Farrington Field stadium and the Jack A. Billingsley Field House - Conveyance of property subject to easements, parking rights for the District, and various covenants and restrictions - Exclusion of certain uses, such as gambling, off-premises alcohol sales, check cashing, and charter schools - Compliance with all applicable zoning, building, and environmental regulations - Final land surveys and legal descriptions to be obtained by the selected respondent(s) at their own expense - No specific OEMs or commercial vendors are named, as this is a real estate and development solicitation

Description

The Fort Worth Independent School District is soliciting proposals for the purchase and development of certain tracts of real property surrounding the Farrington Field stadium. The total property consists of seven individual tracts, and proposals may be submitted for one or more tracts. The district seeks qualified purchasers to potentially purchase and develop all or some of these tracts, with the period of performance from the date of award through December 31, 2031. The solicitation includes two potential transaction structures depending on the district's participation in a Tax Increment Reinvestment Zone (TIRZ).

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