HomeMy WebLinkAboutContract 37035 (2)Y SECRETARY,NI RA CA T NO
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CITY OF FORT WORTH, TEXAS
ADVANCE FUNDING AGREEMENT
This AGREEMENT is between the City of Fort Worth (the "CTTY"), and Diversified Asset
Planning, LLC ("DEVELOPER"), for a PROJECT generally described as review of the
schematics for the proposed North TarranuUS 287 Interchange:
Whereas, DEVELOPER has requested CITY to enter into a Local Project Funding Agreement
(LPAFA) for Voluntary Transportation Improvement Projects (Off -System) with the State of
Texas, hereinafter referred to as the "State", for a review of the schematic for the proposed
North Tarrant/US 287 Interchange; and
Whereas, DEVELOPER has agreed to be responsible for and to pay for all expenses incurred
by the CITY in connection with the LPAFA.
Now, therefore, CITY and DEVELOPER agree as follows:
Article I
Scope of Services
The DEVELOPER agrees to deliver to the CITY and State all electronic and printed copies of
general notes, specifications, contract provision requirements, and related documentation in a
Microsoft Word or similar document. The DEVELOPER will use the State's document
template. The DEVELOPER will also provide a detailed construction time estimate including
types of activities and month in the format required by the State. All work will be performed in
accordance with the Standard Specifications for Construction and Maintenance of Highways,
Streets, and Brides adopted by the State and incorporated herein by reference, or special
specifications approved by the State.
Article II
Compensation
Contemporaneously with the execution of this agreement, DEVELOPER shall deposit the sum
of $20,000 with CITY for reimbursement of the additional costs incurred by the CITY under its
agreement with the State.
In the event DEVELOPER determines that funding the additional cost is not in its best iriterest,
DEVELOPER shall so notify CITY, who shall then terminate the LPAFA with the State.
DEVELOPER agrees to reimburse CITY for any additional actual costs that CITY is required
to reimburse the State under the Master Advanced Funding Agreement existing between the
State and CITY.
Contract��,,h��u�gthori nation
Date
Article III
City Responsibilities
CITY shall have no duties to DEVELOPER unless and until all funds required of
DEVELOPER, either at the time of the execution of this agreement or otherwise, are deposited
with the CITY.
Executed in Fort Worth, Texas, this the day of , 2008:
ATTEST:
Marty Henc�i�
City Secretary
Assistant
Divers i d Ass 1 n ing, LLC
Mr. Philippe Pageau-Goyette
Manager
CITY OF FORT WORTH
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RECOMMENDED
APPROVAL
Director
c Works Department
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®ATE: Tuesday, March 25, 2008
LOG NAME: 20DIVERS-AMEND
SUBJECT:
Authorize Execution of Amendment No. 1 to City Secretary Contract No. 29608 with the Texas
Department of Transportation, and Authorize Execution of an Advance Funding Agreement with
Diversified Asset Planning, LLC, for Texas Department of Transportation's Review of Schematic
Design Plans for North Tarrant Parkway/US Interchange and Adopt Appropriation Ordinance
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the City Manager to execute an Advance Funding Agreement accepting $20,000 from
Diversified Asset Planning, LLC;
2. Authorize the City Manager to execute Amendment No. 1 in the amount of $20,000 to City Secretary
Contract No. 29608 with the Texas Department of Transportation; and
3. Adopt the attached appropriation ordinance increasing the estimated receipts and appropriations in the
Critical Capital Projects Fund by $20,000.
DISCUSSION:
On January 13, 2004, (M&C C-19929) the City Council authorized the City Manager to execute an Advance
Funding Agreement with Presidio Vista I, Ltd. and a Local Project Advance Funding Agreement with TxDOT
for the review of the schematic design plans for the North Tarrant Parkway/US 287 Interchange.
In May 2006, Presido Vista I, Ltd., sold the property to Diversified Asset Planning, LLC. TxDOT has since
requested an additional $20,000 for the review of the schematics due to an increase in project scope of
services.
TxDOT prepared Advance Funding Agreement Amendment No. 1 in the amount of an additional $20,000 to
complete its review. City Staff' prepared an Advance Funding Agreement with Diversified Asset ,Planning,
LLC, to memorialize the developer's commitment to reimburse the City for costs incurred by the City under
its agreement with TxDOT to review the schematics for this project. The Transportation and Public Works
Department will be responsible for the collection and expenditure of these funds in the N. Tarrant Parkway
Project of the 2000 Critical Capital Projects Fund.
This project is located in COUNCIL DISTRICT 2.
Logname: 20DIVERS-AMEND
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FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that upon approval of the
attached appropriation ordinance funds will be available in
the Critical Capital Projects Fund.
TO Fund/Account/Centers
C116 488100 020116021224 $20,000.00
3) C116 531200 020116021224 $20,000.00
above recommendations and adoption of the
the current capital budget, as appropriated, of
FROM Fund/Account/Centers
2) C116 531200 020116021224 $20,000.00
Submitted for City Manager's Office by: Fernando Costa (8476)
Originating Department Head: Greg Simmons (7862)
Additional Information Contact: Jim Walker (8009)
Logname: 20DIVERS-AMEND
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