After the fire, T. E. Tomlinson, C. W. Gibson, and T. E. Shirley, trustees of the University, were assigned by the Board of Directors to find a new site for the University.
Several cities were interested in receiving TCU, including Waco, Dallas, Sweetwater, McKinney, and Gainesville. The contract with Fort Worth provided fifty acres for a campus and $200,000 (about $5.5million today), with assurance of connections with city utilities and streetcar. The money would come from the Board of Trade (forerunner of the Chamber of Commerce), Christian churches of Fort Worth, and the sale of plots through the Fairmount Land Company. For its part, TCU had to promise the city of Fort Worth that it would stay for ten years.
Insurance from the fire and bid money cleared TCU’s outstanding debts. However, with no savings, no endowments, and no idea how many students would enroll, TCU started its school in Fort Worth.