The Shack Wants to Stay in Cowtown
By JANE GEELAN-SAYRES
Updated 11:30 AM CST, Fri, Mar 12, 2010
Radio Shack may not be heading out of Fort Worth after all.
The company's lease it shares with Tarrant County College has been extended for five years.
The news came at a college board meeting on Thursday night.
"We have agreed to financial terms that work for TCC and RadioShack," said Erma Johnson Hadley, interim Chancellor at the College. "And, while our student enrollment continues to grow, our team is confident we will not need the West Fork or Clear Fork Buildings before the end of the additional five year term set forth in the lease extension."
The company uses the Clear Fork and West Fork Buildings as its corporate headquarters.
In a news release, Radio Shack said the lease extension is contingent on the City of Fort Worth and Tarrant County Commissioners Court.
"We appreciate the spirit of partnership and cooperation we have been able to develop with the new senior leadership teamat TCC," said James F. Gooch, executive vice president and chief financial officer for RadioShack Corp.
"This amendedlease agreement is a significant step toward a final decision on our headquarters location. We still need to work out somedetails concerning tax incentives with both the City of Fort Worth and Tarrant County. We are in discussions with officials from both bodies and we hope to bring the process to a conclusion as quickly as possible," said Gooch.
The lease agreement runs through June 30, 2016.
First Published: Mar 12, 2010 11:16 AM CST
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