Mayor Mattie Parker, City of Fort Worth | City of Fort Worth website
Mayor Mattie Parker, City of Fort Worth | City of Fort Worth website
The City Council has approved crucial funding to advance the Texas A&M-Fort Worth campus project. Councilmembers voted unanimously Tuesday to transfer $2.35 million from the City’s general fund to the Research and Innovation Local Government Corporation (RILGC), covering part of the design and preconstruction costs for the Texas A&M-Fort Worth Research & Innovation Building (RIB).
The Council also greenlighted the RILGC to issue up to $18 million in bonds to further fund the building’s construction and associated parking infrastructure.
This action marks a pivotal point as Fort Worth teams with the Texas A&M University System to establish the city as a trailblazer in research and higher education.
The bond issuance will be finalized at RILGC’s Sept. 24 meeting. The bonds are being offered to commercial banks through a competitive process to select the winning bid. Bond closing is expected by Oct. 23.
Over the next 12 months, Texas A&M and its developer will finalize plans for the RIB’s design, construction, financing, and leasing.
When it is finished, the RIB will serve as the nucleus of the Texas A&M-Fort Worth campus, housing a variety of research, academic, and state agency operations.
Alerts Sign-up