Council OKs key funding for Texas A&M-Fort Worth campus expansion

Council OKs key funding for Texas A&M-Fort Worth campus expansion

Published on September 20, 2024

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's 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.

Photo:The 3.5-acre campus is planned to feature three buildings and campus greenspace. The four-block complex will include classrooms, laboratories, event spaces and flexible research and makerspaces.

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• City Council
• District 9