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Two Fort Worth council members propose temporary single-family moratorium around TCU

The moratorium would apply to new permits for single-family homes around TCU, and give the city time to figure out what to do with a controversial proposed overlay in several neighborhoods around the university.

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Fresh Ebola fears hit airline stocks

DALLAS (AP) — News that a nurse diagnosed with Ebola flew on a plane full of passengers raised fear among airline investors that the scare over the virus could cause travelers to avoid flying.

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Landscape architect behind several TCU landmarks acquired

The Dallas design firm behind several Texas Christian University projects, as well as Globe Life Park in Arlington and AT&T Stadium, has been acquired by Rvi Planning + Landscape Architecture.

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Fort Worth launching Stockyards design task force

The task force, to be chaired by the Fort Worth architect Eric Hahnfeld, would be responsible for confirming the boundaries of the city's planned Stockyards design district and reviewing the work of a consultant.

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Fort Worth council approves tax abatement for Sprouts grocery in Ridglea

The abatement would be to VCB Property, which also won an abatement to build a strip retail center.

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Irving-based La Quinta raises about $651M from IPO

IRVING, Texas (AP) — Hotel operator La Quinta Holdings Inc. has raised approximately $651 million from an initial public offering of its common stock.

The IPO of about 38.3 million shares is above the 37.2 million shares initially expected, according to a regulatory filing.

The offering priced at $17 per share, which was below the projected price range of $18 to $21 per share.

La Quinta is giving the underwriters a 30-day option to buy up to an additional 5.7 million shares.

The Irving, Texas, company expects about $618 million in net proceeds from the offering. That's before the underwriters exercise their overallotment option and prior to taking out estimated offering expenses. But it's after deducting underwriting discounts and commissions.

La Quinta anticipates using the offering's net proceeds, coupled with available cash and net proceeds from a senior secured term loan facility of its subsidiary, to pay back outstanding debt. Any remaining proceeds will be used for general corporate purposes.

The company began in 1968 in San Antonio, Texas. It was a public company for more than 30 years, before being acquired by private equity firm The Blackstone Group LP in 2006.

La Quinta runs select-service hotels, which typically have fewer amenities than full-service hotels. It had 834 hotels at the end of 2013.

The shares are expected to start trading on the New York Stock Exchange on Wednesday under the "LQ" ticker symbol.

The offering is targeted to close on Monday.

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