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Home My WebLink AboutContract 19725-A11 CITYSE ETAR CONTRACT NO. YL 3 4-AMENDMENT TO CITY SECRETARY CONTRACT NO. 19725,AS AMENDED BY CITY SECRETARY CONTRACT NOS. 20829,27471,27897,29074,33409,34457,36659, 19725-A8, 19725-A9,and 19725-A10 LEASE AGREEMENT WITH SOUTHWESTERN EXPOSITION AND LIVESTOCK SHOW This AMENDMENT TO CITY SECRETARY CONTRACT NO. 19725, as previously amended (tnendm t is made and entered into by and between the City of Fort Worth ("Lessor"), ahome-rule runic' rporation, acting herein by and through its duly authorized Assistant City Manager, and ern Exposition and Livestock Show ("Lessee"), a nonprofit livestock and civic corporation organized under the laws of the State of Texas, acting herein by and through its Chairman of the Board of Directors and its President, said officers being authorized and instructed to execute this instrument by resolution passed by the Board of Directors of said corporation. WHEREAS, on October 30, 1984, Lessor and Southwestern Exposition and Fat Stock Show, as the lessee, entered into City Secretary Contract (CSC) No. 14071, on file in the Office of the City Secretary of Fort Worth, under the terms of which certain facilities at the Will Rogers Memorial Center were leased to the lessee for the purpose of conducting the Southwestern Exposition and Fat Stock Show; WHEREAS, on June 26, 1989, Lessor and Southwestern Exposition and Fat Stock Show, as the lessee, entered into CSC No. 17195 which amended CSC No. 14071 in its entirety to, among other things, evidence Southwestern Exposition and Fat Stock Show's name change to Southwestern Exposition and Livestock Show, change the names of certain of the leased facilities, extend the term of the lease, and add certain payment provisions; WHEREAS, on June 4, 1993, Lessor and Lessee entered into CSC No. 19725, which amended CSC No. 17195 in its entirety to, among other things, add certain real property to the leased facilities, provide funding for the cost of construction of a livestock building, extend the term of the lease,and add certain payment provisions; WHEREAS, on February 7, 1995, Lessor and Lessee entered into CSC No. 20829, amending CSC No. 19725, to provide for additional reductions in the base rental due to unanticipated cost increases in the construction of the livestock building under the terms and commitments of CSC No. 19725; WHEREAS, on January 28, 2002, Lessor and Lessee entered into CSC No. 27471, further amending CSC No. 19725, to release the obligation of Lessee to share revenue received from the Harley Street parking lot during the annual Stock Show and Rodeo; WHEREAS, on August 5, 2002, Lessor and Lessee entered into CSC No. 27897, further amending CSC No. 19725, to delete from the leased facilities the parking areas occupied by the National Cowgirl Museum and Hall of Fame and the areas designated for the plaza and future Cattle Raisers Museum; WHEREAS, on September 18, 2003, Lessor and Lessee entered into CSC No. 29074, further amending CSC No. 19725, to provide for a reimbursement to Lessee for the cost of repairing and replacing infrastructure improvements to the Will Rogers Coliseum Backstage Club; WHEREAS, on January 5, 2006, Lessor and Lessee entered into CSC No. 33409 for the purpose of leasing approximately twelve acres located at 3409 Harley Avenue for use as parking by Lessee during the annual Stock Show and Rodeo; WHEREAS, on December 28, 2006, Lessor and Lessee entered into CSC No. � , g CSC No. 19725, to delineate a hiring schedule and assistance by City staff during the S�oOFcL RECD o o CITY SECRETARY Amendment to CSC No. 19725,as amended 1 of T.WORTH,TX add a provision for indemnification, and to provide for the payment of funds to Lessee for marketing and promotion of the Stock Show and Rodeo; WHEREAS, on February 22, 2008, Lessor and Lessee entered into CSC No. 36659, further amending CSC No. 19725, to provide for a reimbursement to Lessee for the cost of repairing and replacing infrastructure improvements for restrooms at the Will Rogers Coliseum Backstage Club; WHEREAS, on February 22, 2012, Lessor and Lessee entered into CSC No. 19725-A8, amending CSC No. 19725 to update the Leased Premises and institute a process to address maintenance issues; WHEREAS, on December 10, 2014, Lessor and Lessee entered into CSC No. 19725-A9, amending CSC No. 19725 to (1) update the boundary and status of the Leased Premises, (2) extend the term, and (3) modify the rental structure; WHEREAS, on May 9, 2017, Lessor and Lessee entered into CSC No. 19725-A10, amending CSC No. 19725 to (1) update the boundary and status of the Leased Premises and (2) provide for a reimbursement to Lessee for the cost of replacement of bucking chutes; WHEREAS,these amendments to CSC No. 14071 are on file in the Office of the City Secretary as CSC Nos. 17195, 19725, 20829, 27471, 27897, 29074, 33409, 34457, 36659, 19725-A8, 19725-A9, and 19725-A10 (collectively,the"Lease"); WHEREAS, a 2015 market study by Grotta Marketing Research determined that the Stock Show creates significant economic impact to the City of Fort Worth through expenditures exceeding $88,000,000, generating over $1,772,000.00 in taxes to the City of Fort Worth, and tourism bringing over 410,000 attendees representing 94 countries and 237 of the 254 Texas counties; WHEREAS, the office portion of the Leased Premises is in need of updating and Lessee desires to undertake the design and construction of changes to the entry,workroom, offices, boardroom, and dining, as more particularly set forth in Attachment I hereto(the"Project"); WHEREAS, Lessee has committed to perform the Project and donate one-half of the cost of the Project to the City of Fort Worth;and WHEREAS, Lessor, in consideration of Lessee's donation of one-half of the cost of the Project, and of the public purpose of economic impact and tourism generated by the Stock Show, which public purpose is sufficiently controlled through this Lease, desires to amend the Lease to provide for a rent credit to Lessee; NOW,THEREFORE,KNOW ALL PERSONS BY THESE PRESENTS That Lessor and Lessee in consideration of the mutual covenants and agreements contained herein, do mutually covenant and agree that the Lease is amended as follows: 1. Lessee desires to undertake the Project, at a total cost not to exceed $600,000.00, and has committed to donate one-half of the total cost of the Project. Lessee shall pay all costs of the Project as these costs are incurred and shall provide Lessor with a final Project cost upon completion ("Final Project Cost"). In consideration of Lessee's donation of the Final Project Cost, less the Office Update Rent Credit (defined below), and the public purpose of the economic impact and tourism generated by the Stock Show, which public purpose is sufficiently controlled through this Lease, Lessor shall provide Lessee a rent credit ("Office Update Rent Credit") in the Amendment to CSC No.19725,as amended 2 of 4 amount of one-half of the Final Project Cost, provided that the Office Update Rent Credit shall not exceed $300,000.00. The Office Update Rent Credit shall be applied in six equal annual installments beginning with the invoice for the 2018 Stock Show and ending with the 2023 Stock Show. 2. All terms in this Amendment that are capitalized but not defined shall have the meanings assigned to them in the Lease. 3. All terms and conditions of the Lease that are not expressly amended pursuant to this Amendment shall remain in full force and effect. IN WITNESS WHEREOF,`1hiss ' s�trument is executed in duplicate originals in Fort Worth, Tarrant County, Texas,this 10—day of U l_�J(o_ _,2017. LESSOR: LESSEE: CITY OF FORT WORTH SOUTHWESTERN EXPOSITION AND LIVESTOCK SHOW By:_ By: Sus n#nis Edward P.Bass Assi'stifht City Manager Chairman of the Board By:_Z44 Bradfor .Barnes Presid t APPROVED AS TO FORM AND LEG ITY: �R�,�!I!O By:— V Al 2 L ann D. Guzman j Sr.Assistant City Attorney A sT: .�XPG /-7_' tity Secretary M&C: NO M&C REQUIUD] Date: FT. W091-m, ix Amendment to CSC No.19725,as amended 3 of 4 Attachment I Project Details (see below) hitedar Upflt Budget k Shaw Offices 11Hard Cost Qty Entry Redesign 77 64F Workroom and New Offices Boardroom Diningnat General Conditions/Overhead&Profit 62,31 ii Total Base Construction Estirnaie 296,054 FF&E Cost-Required Qty Unit Unit Cost Artwork T- -AV/Telecom/Data-8,t a r a,k.,, t $ 97,500 AV/telecom/Data D,ifng 26,500 Furniture Stock Show Offices $ 15,900 Furniture Boardroom/Dining $ S5,000 Signage&Graphics $ Security $ s,Soo Move Migration To be handled by Stock Straw To-al FF&5 Cost -S •sr Soft City Unit Unit Cost Basic Services Interior Desi n Services $/5F $ 25,000 MEP Engineering $/SF $ 8,000 Total Soft Cost S «00 ,Total Estimated Budget Project Ho_1S095.00 Date Updated,4/14/17 Fort Worth Stock Show Rodeo E6timated Project Budget Amendment to CSC No. 19725,as amended 4 of 4