HomeMy WebLinkAboutContract 46718-A1 UAMTEX
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June 5, 2015 CITY SECRETARY /�
CONTRACT NO4A1 _ 1
Mr. Fernando Costa
Assistant City Manager
City of Fort Worth
1000 Throckmorton Street
Fort Worth, Texas 76137
RE: AMTEX Avondale, LP, Avondale Farms Drive Street Improvements
Dear Mr. Costa:
It is our understanding that the Community Facilities Agreement (CFA) has been signed and
executed by the City of Fort Worth. In agreeing to sign the CFA, the following terms are
understood by both the City of Fort Worth (City) and by AMTEX Avondale, LP (AMTEX):
• The amount of the bond for the CFA No. 2015-030 will remain at 52,221,737.
• The estimated amount to complete Avondale Farms Drive is 5383,386, which amount
will be provided in a separate Bond to be held by the City.
• The new bond covers the anticipated costs known to-date to construct the two lanes of
Avondale Farms Drive from the proposed cul-de-sac to the end of the AMTEX property
line.
• AMTEX will provide the 5383,386 new Bond to the City after closing of the admission
of the investor partner into the AMTEX partnership.
• During construction of the original CFA improvements, the construction of the two lanes
described above will be processed as a change order to the CFA ("change order").
• The City will retain the additional bond to guarantee the change order is constructed.
We believe that the foregoing captures the terms that have been discussed to move this project
forward. If you are in agreement with the terms reflected in this letter, please countersign below
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OFFICIAL RECORD
Z CITY SECRETARY
00 FT.WORTH,TX
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Mr. Fernando Costa
June 5, 2015
Page 2
and return a copy to the undersigned at your earliest opportunity. Should you need to discuss
further, please feel free to call me or Vince Welk at (818) 706-0694 extension 121.
Sincerely,
AMTEX Avondale LP
By: AT Avondale GP, LLC
By: AMTEX Multi-Housing, LLC
B y:
Arjun Nagarkatti, President
Agreed and accepted: � � e
City of Forth Worth Q00
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Fernando Costa, Assistant City Manager x°°0000°°°°
a e Rity
Approved as to Form & Legality:
By:
Assistant City Attorney
NO M&C RE-QUIRE
OFFICIAL RECORD
CITY SECRETARY
FT.WORTH,TX