HomeMy WebLinkAboutContract 36289-A1 AMENDMENT NO. 1 TO
COMMUNITY FACILITIES AGREEMENT
STATE OF TEXAS § CITY SECRETARY CONTRACT NO. Al
COUNTY OF TARRANT §
WHEREAS, the City of Fort Worth (City) and MUSEUM PLACE
INFRASTRUCTURE. LTD, (Developer) entered into Community Facility Agreement,
City Secretary Contract No. 36289 wherein Developer is to make certain improvements
to MUSEUM PLACE an addition within the City; and
WHEREAS, it has become necessary to execute Amendment No. 1 to the CFA
to reflect the inclusion of fifty-three (53) street lights at an estimated cost of $137,800
and as more fully described on Attachment No. 1; and to incorporate a partial-drawdown
clause allowing the developer to reduce the financial guarantee to an amount equal to
125% of the estimated cost of all incomplete infrastructure improvements required
under this agreement, less any outstanding fees. The degree of completion shall be
verified by City staff, and reductions in the amount of the guarantee shall not be
processed more often than once per month;
WHEREAS, the Summary of Cost require revision; and
WHEREAS, the street lighting plan has changed so that it is necessary to replace
Exhibit "C" with the Exhibit "C" attached hereto.
NOW THEREFORE, City and Developer, acting herein by and through their duly
authorized representatives, enter into the following agreement, which amends the CFA:
1.
Article I, "General Requirements," Section D is deleted and shall be replaced with
the following:
On b-JU• UOq via M&C C -23G09 , the City Council authorized a waiver of the
provision in the Policy for the Installation of Community Facilities governing partial
payment requests and will allow the partial reduction in the financial guarantee for this
Agreement to an amount equal to 125% of the estimated cost of all incomplete
infrastructure improvements required under this Agreement, less any outstanding fees.
The degree of completion shall be verified by City staff, and reductions in the amount of
the guarantee shall not be processed more often than once per month.
CFA AMENDMENT NO.1 U i- WAL r r_%,0RD
Museum Place Infrastructure LTD
Page,of CITY SECRETARY
FT.WORTH,TX
2.
The Summary of Cost Section is amended to be and read:
SUMMARY OF COST
Item Developer City Cost Total Cost
Cost
A. Construction
1. Streets 2,096,135.20 $2,096,135.20
2. Storm Drainage 274,288.00 274,288.00
3_ Street Lights 137,800.00 137,800.00
4. Street Name Signs
B. Engineering Design
C. Construction Engineering
and Management by DOE 4% 94,816.93 94,816.93
D. Materials Testing by DOE 2% 47,408.46 47,408.46
TOTALS $2,650,448.59 $2,650,448.59
3.
Exhibit "C" to the Agreement is hereby replaced with the Exhibit "C" attached
hereto and incorporated herein.
4.
All other provisions of the CFA, which are not expressly amended herein, shall
remain in full force and effect.
(Remainder of Page Intentionally Left Blank)
CFA AMENDMENT NO.1
Museum Place Infrastructure LTD
Page 2 of 3
EXECUTED on this the }� day of , 2009, in
Fort Worth, Tarrant County, Texas.
ATTEST: CITY OF FORT WORTH:
aq Hendrix Fernando Costa
City Secretary Assistant City Manager
Recommended by:
Authorization:
Date: a-3 L7°I
William A Verkest, OFE
Director
Transportation and Public Works Department
APPROVED AS TO FORM
AND LEGALITY:
lit�/Fi�v
Amy J. sey
Assistgnf City Atto ey DEVELOPER
Museum Place Infrastructure, LTD
By: Museum Place Infrastructure GP, LLC,
Its General Partner
/V
H Reece Pettigrew
CFO
OFFICIAL RECORD
CFA AMENDMENT NO.1 CITY SECRETARY
Museum Place Infrastructure LTD
Page 3 of 3 FT.WORTH,TX
M&C Review Page 1 of 2
Official site of the City of Fort Worth,Texas
CITY COUNCIL AGENDA Foams
COUNCIL ACTION: Approved on 6/23/2009
DATE: 6/23/2009 REFERENCE**C-23609 LOG 06MUSEUMPLACECFAlSTAMENDMENT
NO.: NAME:
CODE: C TYPE: CONSENT PUBLIC NO
HEARING:
SUBJECT: Authorize Amendment No. 1 to City Secretary Contract No. 36289, a Community Facilities
Agreement with Museum Place Infrastructure, Ltd., to Authorize Partial Reduction of the
Financial Guarantee
RECOMMENDATION:
It is recommended that the City Council Authorize Amendment No. 1 to City Secretary Contract No.
36289, a Community Facilities Agreement with Museum Place Infrastructure, Ltd., to allow partial
reduction of the corresponding financial guarantee.
DISCUSSION:
Museum Place Infrastructure, Ltd., the developer of Museum Place, has an executed Community
Facilities Agreement (CFA)for the installation of public improvements necessary to serve the mixed-
use development located west of University Drive between 6th Street and Camp Bowie Boulevard
(see attached map). In accordance with the Policy for the Installation of Community Facilities, as
amended, the executed agreement does not allow for a reduction in the amount of the corresponding
financial guarantee until all of the required public improvements are complete and accepted.
While the water, sewer, drainage, and paving improvements are nearing completion, the permanent,
decorative street lights have not yet arrived from the manufacturer. Rather than hold a $2,979,000.00
financial guarantee to ensure the installation of$137,800.00 worth of street lights, staff recommends
approval of Amendment No. 1 to the executed agreement, allowing for a reduction of the financial
guarantee to an amount equal to 125 percent of the estimated cost of all incomplete infrastructure
improvements, less any outstanding fees.
This project is located in COUNCIL DISTRICT 7.
FISCAL INFORMATION/CERTIFICATION:
The Financial Management Services Director certifies that this action will have no material effect on
City funds.
TO Fund/Account/Centers FROM Fund/Account/Centers
Submitted for City Manager's Office by: Fernando Costa (6122)
Originating Department Head: Susan Alanis (8180)
Additional Information Contact: Catherine Davidson (8188)
Kate Beck (7918)
http://apps.cfwnet.org/council_packet/me—review.asp?ID=l 1446&councildate--6/23/2009 08/31/2009
M&C Review Page 2 of 2
ATTACHMENTS
MuseumPlaceLocMap.pdf
http://apps.cfwnet.org/council_packet/mc—review.asp?ID=l 1446&councildate=6/23/2009 08/31/2009
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