TLC Realty Advisors in partnership with Greenfield Partners of South Norwalk, CT are planning to buy the tornado-damaged tower from Block 82 Partners, an entity of Fort Worth's Ed Bass, who last year scuttled a plan to raze and rebuild at 500 Throckmorton St. after implosion costs proved prohibitive. Yesterday's approval was merely a first step in the public funding process: OKs must come from the Tarrant County Commissioners Court and hospital district as well.

The city's contribution is $7.4 million, but the 10-year public funding package is valued at more than $16.9 million. Pat Svacina, Fort Worth's spokesman, confirms to GlobeSt.com that work could start in March if the package passes muster for all public entities. The plan presented to council calls for a 2005 ribbon-cutting.

Council OK'd the incentive package on an 8-0 vote, with councilwoman Wendy Davis abstaining. Her husband is a title company attorney. Svacina says the package passed without any discussion.

The tower project is being designed with 270 apartments and 30,000 sf of retail space. Svacina says it's undecided at this time if units will be "for sale" or "for rent.