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Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

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Hulen Pointe Shopping Center sold

Hulen Pointe Shopping Center, located in southwest Fort Worth on South Hulen Street one mile south of Hulen Mall, has been purchased by Addison-based Bo Avery with TriMarsh Properties for an undisclosed price.

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Dallas-Fort Worth in top five commercial real estate markets in 2015

According to the Emerging Trends in Real Estate 2015 report, just co-published by PwC US and the Urban Land Institute (ULI), Dallas-Fort Worth ranks No. 5, with two other Texas cities, Houston and Austin ranking at No. 1 and 2 respectively. San Francisco ranks No. 3 and Denver No. 4.

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Social House Fort Worth plans to open mid-November

Social House has leased 5,045 square feet at 2801-2873 W Seventh St. in Fort Worth, according to Xceligent Inc.

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Fort Worth temporarily stops issuing new home permits in TCU area

The moratorium will give a committee and the City Council time to review a proposed overlay that will pare the number of permissible unrelated adults living in the same house.

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Transportation deal reached in Austin

CHRIS TOMLINSON,Associated Press


AUSTIN, Texas (AP) — Texas lawmakers reached a deal Friday to increase funding for roads and bridges — if voters approve a constitutional amendment in November 2014.

Republican Sen. Robert Nichols, the author of the measure, said negotiators from the House and Senate had agreed to divert revenue from the Rainy Day Fund and only needed to fix a few details about how to maintain a minimum balance in it. Ultimately the Legislative Budget Board would determine what that balance should be and have authority to cut off funding for transportation if more money is needed for the fund.

Experts say Texas needs an additional $4 billion in the state budget to maintain the current road network, but the Republican majority refuses to consider raising taxes. Instead they have proposed taking an estimated $848 million in oil and gas taxes that would normally flow into the Rainy Day Fund to help pay for transportation. Nichols said the money would only be spent on non-toll roads and bridges and could not be spent to pay off debt.

But the dedication of oil and gas revenues to the fund is set out in the Texas Constitution, so in order to divert that money lawmakers must pass a constitutional amendment. That requires a two-thirds vote in both chambers and the approval of a majority of voters.

Sen. Tommy Williams, the Republican chairman of the Senate Finance Committee, said Texas residents will get to vote on the measure in 2014, after they vote on tapping the Rainy Day Fund for water projects this November.

"It's appropriate that we give voters time to look at this," he said.

Members of the House and Senate have been debating for weeks on the diversion of funds. Senate negotiators wanted a minimum balance for the Rainy Day Fund written into the state constitution, while House negotiators wanted to maintain the current flexibility for tapping it. Allowing the 10-member Legislative Budget Board to study what the minimum balance should be and to decide how to maintain it would go into law, but not the constitution, under the deal announced Friday.

The House and Senate are scheduled to meet again Monday to give final approval. The second special session of 2013 ends on Tuesday.

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