The Fort Worth City Council has approved essential funding to propel the Texas A&M-Fort Worth campus project forward. On Tuesday, councilmembers voted unanimously to transfer $2.35 million from the City’s general fund to the Research and Innovation Local Government Corporation (RILGC). This funding will cover part of the design and preconstruction costs for the Texas A&M-Fort Worth Research & Innovation Building (RIB).
In addition, the Council authorized the RILGC to issue up to $18 million in bonds to further finance the building's construction and associated parking infrastructure. This decision marks a significant step as Fort Worth collaborates with the Texas A&M University System to position the city as a leader in research and higher education.
The bond issuance is set to be finalized at the RILGC’s meeting on September 24, with bonds being offered to commercial banks through a competitive bidding process. Bond closing is anticipated by October 23.
Over the next year, Texas A&M and its developer will finalize plans for the RIB's design, construction, financing, and leasing. Once completed, the RIB will act as the central hub for the Texas A&M-Fort Worth campus, accommodating a range of research, academic, and state agency operations.
