HomeMy WebLinkAboutContract 37185 CITY SECRETARY
'�n�lTf;,ACT NO. I
RENEWAL OF CITY SECRETARY CONTRACT NUMBER 19597,AS
AMENDED
LEASE AGREEMENT
WITH
MID-WESTERN DEVELOPMENT & REALTY LTD.
STATE OF TEXAS §
COUNTY OF TARRANT §
WHEREAS, on March 1, 1993, the City of Fort Worth (the "City"), by and
through its Assistant City Manager, entered in to a Lease Agreement with Mid-Western
Development & Realty Co. (whose successor by assignment and conversion is Mid-
Western Development & Realty, Ltd.), the same being City Secretary Contract Number
19597; and
WHEREAS, said Lease Agreement was amended on March 4, 2005, the same
being City Secretary Number 31541, and further amended on March 27, 2006, the same
being City Secretary Number 33404 (said Lease Agreement, as so amended, is called the
"Agreement;" and capitalized terms used and not otherwise defined in this renewal
agreement shall have the meanings given to them in the Agreement); and
WHEREAS, said Agreement, as amended, provided that the City of Fort Worth
would lease the Botanic Parking Lot to Mid-Western Development&Realty Ltd; and
WHEREAS, the primary Agreement term was from March 1, 1993 and ending
on February 28, 1998; and
WHEREAS, the primary Agreement may be renewed for three additional 5-year
terms by Mid-Western Development & Realty Ltd. the upon notice of its intent to
exercise such option to renew at least sixty (60) days before the expiration of the renewal
term; and
WHEREAS, Mid-Western Development & Realty Ltd. has given the required
notice of its desire to renew and extend said Agreement for the third and final additional
5-year term under the same terms and conditions;
NOW, THEREFORE, City and the Mid-Western Development & Realty Ltd.
agree to renew and extend the Agreement as follows:
1. Pursuant to Section 3 of the Agreement, the City and Mid-Western
Development & Realty, Ltd., agree that the renewal term of the Agreement
has been, and hereby is extended and shall be for a term of five (5) years,
beginning on the I" day of March 2008 and terminating on the 28th day of
February 2013.
2. All other terms and provisions of the Agreement between the City and Mid-
Western Development & Realty Ltd. shall remain in full force and effect
except as specifically amended herein.
IN WITNESS WHEREOF, the parties hereto have executed this agreement in
multiples in Fort Worth, Tarrant County, Texas, to be effective for all purposes as of
February 29, 2008.
CITY OF FORT ORTH MID-WESTERN DEVELOPMENT &
REALTY,LTD.
By: Mid-Western Development & Realty
arl in ,'Ac g Assistant City Management Co.,LLC,
Manager its general partner
ATTEST: By:
Brent I . 0jder,Manag
City�Secretar By:
b-5—u_g19 G. More,Manager
APPROVED AS TO FORM AND
LEGALITY
C ,
Assistant ty Attorn
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03/23/93 1 •C-13746 I 80BOT 1 of 1
SUBJECT I LEASE AGREEMENT FOR USE OF CITY OWNED PROPERTY-BOTANIC GARDENS PARKING LOT
RECOh4r1ENDATION:
It is recommended that the City Council authorize the City Manager to:
1. Execute a lease agreement with Mid-Western Development and Realty Company to use
the Botanic Gardens parking lot, which is adjacent to the I-30 access road east
\ of Montgomery Street, for a period of five years with options for two _ad WD—nal
five-year terms at a cost of $25,000.00 per year or the—first term with annual
costs _e_s_ca_1_atinf to $30,000.00 per year in the second term and $36,000.00 per year
in the final five-year option, and
2. Approve the assignment of a sublease agreement to the Lockheed Corporation.
DISCUSSION:
Since 1957, the occupants of the building at 2501 Montgomery Street have utilized the
Botanic Gardens parking lot under a use agreement with the City of Fort Worth. The lot
provides parking for the employees who work in the building, currently occupied by
Lockheed Corporation. The current agreement has expired and a new agreement is
recommended.
Staff has determined that the parking lot would not be needed for development in the
foreseeable future. Staff has renegotiated the proposed lease which will allow the
City to continue to collect revenue from the use of the lot until it is actually needed
for Botanic Gardens improvements.
The lease gives Mid-Western. the right to sublease the parking lot. In the past, Mid-
Western has subleased the lot to General Dynamics. Recently, General Dynamics assigned
to Lockheed its rights in the sublease.
FISCAL INFORMATION/CERTIFICATION:
The Cash Management Division of the Fiscal Services Department will be responsible for
collection of the lease fee which will continue to be deposited to the Special Trust
Fund.
LW:b
Submitted or C ty ?anager s FUMD ACCOUNT CUffR___T AJIOUNT CITY SECRETARY
Office by: to
FE 2 488692 080 0210101 25,000.
Libby Watson 6140 APPROVED
or g nating Department Read: CITY COUNCIL
Richard Zavala, Jr. 7275 from MAR 23 1n
For AdditfonFal In ornat on
Contact:
Cit7 Secretary of Mo
Richard Zavala, Jr. 7275 City of Fort W015"reus
0P*ad«,racyckd pww
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 12/16/2003 - Ordinance No. 15807
DATE: Tuesday, December 16, 2003
LOG NAME: 80BGPARKINGLOT REFERENCE NO.: C-19909
SUBJECT:
Amendment to City Secretary Contract No. 19597 between the City of Fort Worth and Mid-Western
Development & Realty Company
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the City Manager to amend City Secretary Contract No. 19597 with Mid-Western
Development & Realty Company to extend the term of the agreement and reduce the number of parking
spaces; and
2. Adopt the attached appropriation ordinance increasing estimated revenues and appropriations in the
Special Trust Fund in the amount of $36,000 from available funds for the relocation of the greenhouses
located at the Botanic Garden.
DISCUSSION:
As part of the the 1998 Capital Improvement Program, funds were designated for Phase One of the Botanic
Garden's Master Plan which includes the construction and relocation of greenhouses on a portion of the
Fort Worth Botanic Garden Parking Lot ("Parking Lot") currently leased to Mid-Western Development &
Realty Company ("MW'). The greenhouses are currently located along Old Garden Road, in the central
portion of the Botanic Garden. Relocating the greenhouses and maintenance compound to the Parking Lot
will allow the redevelopment of that area as the Demonstration Garden. Attached is a site plan of the
proposed greenhouse relocation.
In 1993, the City entered into an agreement (City Secretary Contract No. 19597) with MW for lease of the
Parking Lot for five years, beginning March 1, 1993, and ending February 28, 1998. The lease includes two
5-year options which will expire February 28, 2008. The lease also stipulated an annual lease fee amount
of $36,000. These funds are placed in a trust fund for future development of the Botanic Garden. In
January 2003, MW exercised the last 5-year option of the lease.
This recommendation will amend City Secretary Contract No. 19597 to add an additional five-year lease
term from March 1, 2008, until February 28, 2013, and reduce the leased area from 463 parking spaces to
approximately 255 parking spaces. Accordingly, the rent for the Parking Lot will be reduced from $36,000 a
year prorated to a rate of $19,826 per year once the remaining area of the Parking Lot is closed for the
construction of Phase One of the Botanic Garden Greenhouse Project Plans. The rent for the Parking Lot
during the third renewal term shall be $23,800 a year.
Additionally, the City will sub-sublease the parking lot north of the Rowan building ("Stock Show Parking
Lot) for a three year primary term, with two one-year options for the purpose of providing additional parking
for the tenants of MW located at 2501 Montgomery Street. This sub-sublease is needed to accommodate
the parking needs of MW due to the loss of parking spaces as a result of the relocation of the Botanic
Logname: 80BGPARKINGLOT Page 1 of 2
Garden greenhouses.
Terms of the agreement amendment include indemnification, insurance coverage, maintenance of the
Parking Lot, an opportunity for MW to comment on the Botanic Garden Greenhouse Project Plans relating
to parking, ingress/egress and layout issues, and establishment of an annual meeting to review the
maintenance, operations and programs related to the parking lots. The agreement will also allow MW to
continue to sublease the Parking Lot to the tenants of 2501 Montgomery Street.
Construction for Phase One of the Botanic Garden Greenhouse Project shall not begin before October 1,
2004, or until the Stock Show Parking Lot is ready for use, whichever occurs first. The City, at its sole
discretion, may renew this agreement at the end of the third renewal term. If the City elects not to renew
the agreement, written notice of intent will be given no later than March 1, 2011.
This Mayor and Council Communication (M&C) corresponds to M&C C-19908, Contract with Southwestern
Exposition and Livestock Show to Sublease Parking Lot.
The Botanic Garden is a citywide facility that is located in COUNCIL DISTRICT 7.
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that upon adoption of the attached appropriation ordinance, funds will be
available in the current operating budget, as appropriated, of the Special Trust Fund
TO Fund/Account/Centers FROM Fund/Account/Centers
FE72 488692 080502101010 $36,000.00
FE72 VARIOUS 080502101010 $36,000.00
Submitted for City Manager's Office bv: Libby Watson (6183)
Originating Department Head: Randle Harwood (Acting) (5704)
Additional Information Contact: Sandra Youngblood (5755)
Logname: 80BGPARKINGLOT Page 2 of 2