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Home My WebLink AboutContract 26159 CITY SECRETARY / _ CONTRACT NO . : / STATE OF TEXAS § COUNTIES OF TARRANT AND DENTON § AMENDMENT TO TAX ABATEMENT AGREEMENT BETWEEN THE CITY OF FORT WORTH AND PUENTE BROTHERS INVESTMENTS, LLC AND SOUTHWEST OFFICE SYSTEMS WHEREAS, on the 25 ." day of April, 1996, the City of Fort Worth, Texas (the "City"), and Puente Brothers Investments, LLC and Southwest Office Systems ("Owner"), entered into a certain Tax Abatement Agreement(City Secretary Contract No. 21790, hereafter referred to as "the Agreement"), to which reference is hereby made for the terms and conditions thereof, and WHEREAS, the Agreement grants to Owner a tax abatement relating to certain Required Improvements to be made on Owner's real property (the "Premises") in Tax Abatement Reinvestment Zone No. 22, said property more particularly described as Exhibit B to the Agreement; and WHEREAS, in Section I., Paragraph B of the Agreement, Owner covenants to complete construction of the Required Improvements by December 31, 1996; and WHEREAS, Owner was unable to complete construction of the facility by December 31, 1996 due to the relocation of a high-pressure gas line on the property; and WHEREAS, Owner began construction of the required facilities in February, 1997 and completed construction by May 31, 1998; and WHEREAS, Owner has asked the City to amend said Agreement to reflect this change in the construction commencement and completion dates; and WHEREAS, Section 312.208 of the Property Redevelopment and Tax Abatement Act provides that a municipal tax abatement agreement may be modified by the parties to include provisions that could have been included in the original agreement, provided that the original agreement may not be modified to extend beyond 10 years from the date of the original agreement; and "FE �` 'G'JG@ NOW, THEREFORE, for and in consideration of the premises and the mutual promises contained herein, the City of Fort Worth (the "City"), duly acting herein by and through its Assistant City Manager, and Puente Brothers Investments, LLC And Southwest Office Systems ("Owner"), duly acting herein by and through its authorized officers, do hereby contract, covenant and agree follows: 1. That the Agreement (City Secretary Contract 21790), dated April 25, 1996, be and is hereby amended by changing Section I, Paragraph B thereof to read as follows: `B. Owner covenants to commence construction of the Required Improvements in February of 1997 and complete construction of all of the Required Improvements on or before May 31, 1998 2. That except as hereby amended, the provisions of the Agreement shall remain unchanged. EXECUTED this qday of OA-4-4 , 2000, by the City. l EXECUTED this day of R , 2000, by Puente Brothers Investments, LLC And Southwest Offe Systems. AT EST: CITY QF FORT WORTH, TEXAS By: - ity Secretar� -DD Assistant'City Manager V ED AS APPRO TO` FORiv1 AND LEGALITY: Assistant City Attorn Date:- J-2S- n C-/6 fO�J 72�-ys Puente Brothers Investments, LLC, a Texas Limited Lia 'lit, Compan Attest: By: Printed Name.: Title: ej 2 l �tl ULf�U�I5WilUSU Southwest Office Systems, Inc., a Texas Corporation Attest: By: Printed Name:—AL-4--U—,1 ��-- Title: Co: ta. u,,d t,,,� r STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME,the undersigned authority, on this day personally appeared Mike Groomer,Assistant City Manager of the CITY OF FORT WORTH, a municipal corporation, known to me to be the person and officer whose name is subscribed of the foregoing instrument, and acknowledged to me that the same was the act of the said CITY OF FORT WORTH, TEXAS, a municipal corporation,that he was duly authorized to perform the same by appropriate resolution of the City Council of the City of Fort Worth and that he executed the same as the act of the said City for the purposes and consideration therein expressed and in the capacity therein stated. GIVEN DER MY HAND AND SEAL OF OFFICE this day of 2000. Notary Public in an r the State of Texas SARAN JANE ODLE NOTARY PUBLIC State of Texas comm. Exp,pt.�p. Notary's Printed Name rTa FIICCU,I F111��C�OODD U/ f STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Buddy Puente, Authorized Manager of Puente Brothers Investments, LLC, a Texas Limited Liability Company, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed, in the capacity therein stated and as the act and deed of said corporation. GIVEN DER MY HAND AND SEAL OF OFFICE this day of 2000. � sch)),Q L Notary Public in and for KNE SORRELLS the State of Texas * �Pft state of Tess ~eta MyCornn.Exx6.17.2002 Notary's Printed Name 1 My Commission Expires: r]-an Q STATE OF TEXAS § COUNTY OF TARRANT § BEFORE ME, the undersigned authority, on this day personally appeared Buddy Puente,'#iee-President of Southwest Office Systems, Inc., a Texas Corporation, known to me to be the person whose name is subscribed to the foregoing instrument, and acknowledged to me that he executed the same for the purposes and consideration therein expressed, in the capacity therein stated and as the act and deed of said corporation. GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of 2000. Notary Public in and for the State of Texas t� DEWE SORRELLS Notary Pubic Sate of Tesa K� so f Mon.y coE*6.17.2002 °' Notary's Printed Name My Commission Expires 1 ng. u 4 F ll n p City of Fort Worth, Texas "agor And Council Communication DATE REFERENCE NUMBER LOG NAME JPAGE 7/28/98 C-16909 02PUENTE2 1 of 2 SUBJECT AMENDMENT TO TAX ABATEMENT AGREEMENT WITH PUENTE BROTHERS INVESTMENTS, LLC AND SOUTHWEST OFFICE SYSTEMS, INC. F RECOMMENDATION: It is recommended that the City Council authorize the City Manager to execute the attached amendment to the tax abatement agreement with Puente Brothers Investments, LLC and Southwest Office Systems, Inc. (City Secretary Contract No. 21790). DISCUSSION: F On April 4, 1996, the City Council authorized the City to enter into a tax abatement agreement with F Southwest Office Systems (SOS) for the construction and operation of a corporate headquarters. Construction of the facility was to begin in the summer of 1996 and be completed by December 31, 1996. Through the City's annual tax abatement agreement audit, it was discovered that construction of the facility was not completed by the date specified in the agreement. Without an amendment to the agreement, SOS is technically in default of its agreement commitments. The delay in the completion of facility was due to Lone Star Gas having to relocate a high-pressure gas line on the property. Completion of the relocation of the line did not occur until January 1997, which allowed construction on the project to begin in February, 1997. A rainy spring added to the construction delay. A temporary Certificate of Occupancy was issued in September, 1997 and a final Certificate of Occupancy was issued on May 11, 1998. On July 15, 1998, at a meeting of the City Council's Economic Development Committee, Southwest Office Systems asked the City to amend the tax abatement agreement to allow for the project completion date to be changed to May 31, 1998. The Committee recommended that the amendment be forwarded to the City Council with their support. Approval of the attached amendment to the Southwest Office System agreement will provide for the new completion date of the project to be May 31, 1998. No other terms of the agreement have been changed. F City of Fort Worth, Texas rqva.qor And Council communication DATE REFERENCE NUMBER LOG NAME PAGE 7/28/98 IFC-16909 02PUENTE2 2 of 2 SUBJECT AMENDMENT TO TAX ABATEMENT AGREEMENT WITH PUENTE BROTHERS INVESTMENTS, LLC AND SOUTHWEST OFFICE SYSTEMS, INC. FISCAL INFORMATION/CERTIFICATION: The Finance Director certifies that no expenditure of City funds is associated with approval of this agreement. MG:j Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY Office by: (to) APPROVED Mike Groomer 6140 CITY NUNC- Originating Department Head: JUL 88 10 Tom Higgins 6192 (from) Additional Information Contact: City Secretarg of the city of Fort WartF r,,x Jay Chapa 8003