Tax lowered for elderly, disabled; Major donor passes at 91; Forest Park pool is back

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U.S. operators of the V-22 Osprey have been hit with a new flight restriction. According to Military.com, the Air Force, Marine Corps, and Navy are required to ensure that their V-22 Ospreys stay within a half-hour flight of a suitable landing site in case of emergencies. 

Ben J. Fortson, 91, passed away this week. He had nearly 60 years of experience in the oil and gas industry and served as President and Chief Executive Officer of Fortson Oil Company since 1986.  He also served as Chief Investment Officer and Executive Vice President of the Kimbell Art Foundation since 1975. 

Fort Worth voted unanimously to increase a property tax exemption for seniors and people with disabilities from $60k to $80k, which will cost the city about $940k. It was the second consecutive year the exemption was raised.

McKinney-based Independent Bank, with three branches in the Fort Worth area, has entered into a definitive agreement to be acquired by Florida-based SouthState. The all-stock transaction is valued at approximately $2 billion.

We were a little over-excited and over-celebrated Sunday night, and our days for the Mavericks and Stars to open their conference championship runs were incorrect. The Mavs play tonight at Minnesota and the Stars play Edmonton tomorrow night in Dallas.

Fort Worth’s city council unanimously approved the transition of emergency medical service providers from MedStar to a Fort Worth Fire Department-based system. 

With the current crises in Ukraine and the Mideast, Fort Worth-based defense company Elbit America has had to be creative in a time of supply chain issues. 

Cook Children’s has a sponsorship agreement with PGA Tour member Tom Hoge, a former TCU golfer ranked 60th in the world with more than $11 million in career earnings. The Fort Worth resident will sport a Cook Children’s logo on his left arm shirtsleeve while competing on tour. No terms were released. 

The Modern Art Museum of Fort Worth has acquired significant artworks by four illustrious artists - Jeffrey Gibson, Gabriel Orozco, Howardena Pindell, and Dyani White Hawk - for the Modern’s permanent collection. All are on display within the first-floor gallery. 

With less than two weeks to go until the confirmation hearing that is expected to end its bankruptcy restructuring, We Work has worked through 97% of its global portfolio. It has stripped $11B off its rent bills since filing in November, according to Bisnow.

Dallas-based Chili’s Grill & Bar is red-hot, reporting a 3.5 percent increase in comparable restaurant sales year over year for the fiscal third quarter. This is despite confusion stemming from recent articles, which noted that Chili’s closed a few underperforming restaurants.

Needs more Kyle: Over the weekend, 706 people named Kyle gathered in Kyle, Texas, and attempted to break the world record for “the largest gathering of people with one name,” but sadly fell well short. According to the Guinness World Records, the title is held by 2,325 people named Ivan who got together in Bosnia in 2017.

Democrats and Republicans differ when it comes to their retail favorites. Democrats spend more at stores such as Costco, Whole Foods Market and Trader Joe’s, while Republicans spend more at Walmart, Dollar General and Lowe’s, according to data collected from Affinity Solutions’ Consumer Purchase Insights. The data is based on actual credit card, debit card and transaction data in the second quarter of 2024.

Kudos: TCU defeated Texas, 4-3, to win the 2024 NCAA Division I men's tennis team championship. It is TCU's first since the championship began in 1946.

The Frank Erwin Center is no more. The demolition of the home to the University of Texas basketball teams for 47 years is complete. Erwin was on the UT Board of Regents.

Florida and Texas show signs of home prices falling. Robust home-building activity in recent years has helped boost the number of homes for sale. (WSJ gift article)

Significant stat: According to Gallup, the percentage of American adults who attend religious services every week or nearly every week has fallen from 42% two decades ago to 30% last year.

Scheduling note: 817 Biz will not publish Monday, May 27 in observance of Memorial Day.

Snippets:

• SiNaCa Studios and UT-Arlington are bringing an international glass arts conference to Tarrant County in 2025.

• Friday is the ribbon-cutting for Fort Worth’s remodeled Forest Park Pool and Saturday is the first day for swimming. Check out what's new.

• Red Lobster purchases 20% of all North American lobster tails, as well as 16% of all rock lobsters worldwide, according to its bankruptcy filing. 

Announcements:

• North Texas Community Foundation:  Adds Winjie Tang Miao, Savannah Petronis, Ken Schaefer and Benjamin Scheffler to its Board. 

• Camp Fire: Announces Jeanna Bassett as Early Education Workplace Inclusion Specialist.

• Junior Achievement of Dallas: Hires former FW non-profit leader Chris LaTurno as President.

• Council of Educators in Landscape Architecture: Inducts Diane Jones Allen to its Academy of Fellows.

• Landsea Homes Corporation: Appoints Aubrey Dym as Vice President of Land for Dallas-Fort Worth.

• U.S. Rail and Logistics: Names Andy Klinck Senior Vice President of Operations.