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HomeMy WebLinkAboutOrdinance 8065 ORDINANCE NO ~ ~ S BY THE CITY COUNCIL OF THE CITY OF FORT WORTH TEXAS DIRECTING PUBLICATION OF NOTICE OF INTENTION TO ISSUE TAX AND REVENUE CERTIFICATES OF OBLIGATION ORDAINING OTHER MATTERS RELATING TO THE SUBJECT AND DECLARING AN EMERGENCY 'WHEREAS it is hereby officially found and determined that a case of emergency or urgent public necessity exists which re- quires the holding of the meeting at which this Ordinance is passed such emergency or urgent public necessity being the publication of Notice of Intention to Issue Certificates of Obligation to provide funds for the construction of a public parking garage is required as soon as possible and without delay and that said meeting was open to the public and public notice of the time place and purpose of said meeting was given all as required by Vernon's Ann Civ St Art 6252-17 as amended 'BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH TEXAS "Section 1 That attached hereto and marked 'Exhibit A' is a form of notice the form and substance of which are hereby passed and approved 'Section 2 That the City Manager shall cause said notice to be published in substantially the form attached hereto in the 'Commercial Recorder a newspaper of general circulation in the City of Fort Worth Texas for two consecutive weeks the date of the first publication to be March 13th 1980 which date is at least fourteen (14) days prior to the day tentatively pro- posed for authorizing the issuance of the Certificates of Obligation as shown in said notice This ordinance shall be considered an affirmative official action for the issuance of the above described Certificates of Obligation in accordance with the purpose of the Certificates of Obligation Act and Section 1 103-8(a)(5) of the Income Tax regula- tions of the United States PASSED the 11th day of March 1980 ..~ Mayor City o Fort Worth Texas ATTEST ~R~'_~~~. i y Secretary City of F t rth Texas PPROV AS TO F AND LEGALITY c.c..~-. .~~-~-,-- "" City Attorney City o Fort Worth Texas '.,-; -~'„ , c EXHIBIT A" NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION NOTICE IS HEREBY GIVEN that it is the intention of the City Council of the City of Fort Worth Texas to issue the interest bearing certificates of obligation of the City en- titled "City of Fort Worth Texas Tax and Revenue Certifi- cates of Obligation Series 1980 for the purpose of pro viding a part of the funds for the construction of a public parking garage [the same being the pedestrian plaza and parking garage referred to in the Fort Worth City Council Resolution adopted July 17 1979 and being a structure parking area and facility located in the immediate vicinity of the Tarrant County Convention Center and to be used in connection with such Convention Center for public off-street parking or storage of motor vehicles] The City Council tentatively proposes to authorize the issuance of said Certificates of Obligation at its regular meeting place in the City Hall at a special meeting to commence at 10 o'clock A M on the 28th day of March 1980 The maximum amount of Certificates of Obligation indebtedness that may be authorized for such purpose is $3 500 000 The City Council presently proposes to provide for payment of such Certificates of Obligation by the levy of taxes and from revenues +" ~~ ti ~~ t,: STATE OF TEXAS OF TARRANT ITY OF FORT WORTH I the undersigned, City Secretary of the City of Fort orth, Texas, do hereby certify that the above and foregoing s a true, full and correct copy of an Ordinance (and of he minutes pertaining thereto) passed by the City Council f said City on the J~'day of March 1980, directing publi- ation of Notice of Intention to Issue Tax and Revenue ertificates of Obligation and that same is of record in the mutes of said City Council WITNESS my hand and. the official seal of the City of art Worth Texas this f1~ day of March, 1980 ~ l `~ ~e~-/ y Secretary City of Fo t Worth Texas i(s~AZ) ~: . j, f -ate.--^. ~ `"~-~ .v a"":. w °+^ THE STATE OF TEXAS COUNTY OF TARRANT CITY OF FORT WORTH ~~. On the ~.;~;' day of ~Rarch;, 1980, the City Council of the City of Fort Worth, Texas convened in meeting with the following members and officials present to-wit Woodie Woods, Mayor Richard C Newkirk, Mayor Pro-Tem Jim A Bagsby Bob Bolen Jeff Davis W Clark Martin Council Members Herman F Stute Bert C Williams Louis J Zapata Robert L Herchert, City Manager Arthur R Petersen., City Attorney Jack W Green, City Secretary with the following members absent with more than a quorum present at which time the following among other things was transacted, to-wit Councilman introduced an ordinance and moved that it be passed The motion was seconded by Council- man The ordinance was read by the City Secretary The motion, carrying with it the passage of the ordinance prevailed by the following vote AYES NOES ABSENT The ordinance, as passed is as follows f* ~~. x FILE BILARDI ~zt o 1~'ort V6Torth, texas ~~ ~HERCHERT, y f ~~a BAILIFF 1~1la~oa'° ~z~'a.d c~®~?!'~cC~~ ~®1j~11,D~'Q,~D'a,~~ata~11~, SMITH BONE- DATE REFERENCE SUBJECT Award of Contract - Urban PAGE NUMBER ~,~ Development Action Grant for Public 1of ~- 3113/80 C-5014 Plaza and iinrlarorrnmri Parkino Garaoa On May 1 1979 (M&C G-4150) the City Council authorized submission of an application for a grant to the Department of Housing and Urban Development (HUD) under the Urban Development Action Grant Program (UDAG) to fund construction of a landscaped public plaza and underground public parking garage for 350 cars and related street revisions In the vicinity of these facilities Woodbine Development Corporation acting on behalf of its parent corporation Hunt Investment Corporation proposed to renovate the former Sheraton Hotel into a Hyatt Regency Hotel On August 28 1979 (M&C C-4777) the City Council approved a Developer Agreement and Contract (City Secretary Contract No 10609) between the City and Hunt Investment Corporation The Agreement provisions include promises that a The City will construct the public facilities at a minimum cost of $6 002 000 and within specified time limits which include opening the parking garage prior to the opening of the hotel b The City will fund cost overruns if any rather than materially reduce the scope of the project and c The City s construction activities will not interfere with the hotel opening and initial operations and the City is therefore liable for any actual damages caused by construction delays up to $300 000 On September 4 1979 (M&C C-4783) the City Council approved a contract with Jarvis Putty Jarvis Inc to perform architectural services on the underground parking garage and public plaza On September 8 1979 the Grant Agreement No B-79-AA-48-0013 was executed between the City and HUD for the amount of $6 002 000 to construct the project The plans were completed and the project was advertised on January 31 and February 7 1980 A pre-bid conference was scheduled for February 15 1980 and the bid date was set for February 28 1980 Bidding Procedure The Base Bid includes Bid Item A - Main Street improvements between 7th and 9th Streets Bid Item B - Demolition of existing buildings on the site Bid Item C - Electrical Cable Housing and Splicing Chambers Bid Item D - Remainder of the work not specifically designated on Bid Items A B and C The bidding was to include the Base Bid and Alternate No 1 which omitted two stairs Addendum No 1 was issued February 15 1980 adding Alternate No 2 which included a pedestrian tunnel from the garage under 8th Street to the Hyatt Regency Hotel Contractors participating in the pre-bid conference voiced f'~ DATE REFERENCE SUBJECT Award of Contract - Urban I PAGE NUMBER Development Action Gran for Public ` 2 4 3/13/80 C-5014 Plaza and Underground Parking Garage I -___~f__ concern on the construction time limits imposed on he project Addendum No 4 was subsequently issued February 27 1980 delaying the bid date to March 5 1980 and included two new alternates to be included in the bid package Alternate No 3 split the construction completion deadlines requiring the parking garage and plaza portion from Main Street eastward to be completed by December 31 1980 and the remainder from the east side of P9ain Street westward to be completed by May 31 1981 Alternate No 4 required the entire project to be completed by May 31, 1981 in lieu of the Base Bid requirement of completion by December 31 1980 Receipt of Bids Bids were received from two bidders as shown below Walker Con- Henry C struction Co Beck Co Base Bid (Compl etion 12/31/80) $6 600 098 $6 489 000 Base Bid w/Alt #i (Deduct) 6 503 098 6 437 000 Base Bid w/Alt #2 (Add) 6 750 098 6 687 000 Alternate No 3 (Partial Completion 12J3 1/80 Completion 5/31/81) Base Bid $6 400 098 $6 039 000 Base Bid w/Alt #1 (Deduct) 6 363 098 5 987 000 Base Bid w/Alt #2 (Add) 6 550 098 6 237 000 Alternate No 4 (Completion 5/31/81) $6 200 098 $5 889 000 Base Bid wJAlt #1 (Deduct) 6 163 098 5 837 000 Base Bid w/Alt #2 (Add) 6 350 098 6 087 000 The architects and low bidder both indicate that the garage and plaza facility cannot be completed by December 31 1980 as required in the Base Bid Thus he City will be potentially liable for the $300 000 in damages to the hotel and developer regardless of which bid is accepted Bid Alternate No 3 (split completion) for the low bidder is $450 000 less than the initial Base Bid but renders the City liable for the $300 000 in damages because the western portion of the garage will not be completed until May 31 1981 The developer has indicated Alternate No 3 would cause damages to the hotel but under some circumstances would be acceptable since a significant portion of the project would be complete and usable on December 31 1981 Alternate No 4 of the low bid is $600 000 less than the initial Base Bid but would cause substantial damages to and create major problems for the hotel project because of the May 31 1981 completion date It would delay significantly the opening of the hotel and the associated revenues to the City The developer has proposed to fund approximately $1 000 000 in improvements to the hotel and as leasehold improvements to the parking garage to' provide the capability of converting the upper level of the garage into an exhibit hall as needed When not in use as an exhibit hall, the level would be returned to use DATE NUMBER CE SUBJECT Award of Contract - Urban ~ PAGE ~ Development Action Grant for Public 3 ~ 3 / 13 / 80 C- 5014 ~ -___ or Pla7.a anA Iln r-lorornnnrl P~rlsinn ('_~r~ne as parking In lieu of the $300 000 potential damage paymen called for in the City/Developer Contract the developer will accept certain improvements to the parking facility which will facilitate the provision of the capacity to convert the upper level of the garage to exhibit hall space and thus make the entire facility more supportive of the Convention Center The improvements to be funded by the City under this proposal include a $15 000 included in the base bid in design modifications for the width of two stairwells to accommodate more pedestrian traffic (required by the City Building Code) b $52 000 included in the base bid for two additional stairwells c $150 000 for Alternate No 2 adding a tunnel from the garage to the hotel basement (the developer will fund the remaining $48 000 of the bid price of $198 000) Acceptance by the City of the developer proposal will result in a lower otal cost to the City while providing additional improvements to the public facility Project Financing The proposed contract award is $6 237 000 Available funds include $ 341 000 from the Main Street UDAG grant for the 7th-9th Street construction (212644-01) 3,877,000 from the parking garage and public plaza UDAG grant (212642-02 $237 000 212642-03 $2 940 000 212642-04 $30 000 212642-06 $670 000) $4 218 000 Total Available Grant Funds Additional costs for plaza landscaping not included in the bids are estimated to be $150 000 This item was omitted from the current bid package because its completion was not essential for the operation and opening of the parking garage by December 31 This item will be bid at a later date after completion of the design Land and relocation costs are estimated to total $2 036 400 which is $312 000 in excess of the available funds in the land and contingency budget Contingency funds necessary for the project are now estimated to be a minimum of $300 000 The total estimated additional funds required based on the above are as follows ~Z 019 000 contract award ($6 237,000 less $4 218 000 available) 312 000 excess land costs 150 000 additional plaza landscaping 300,000 contingencies $2 781 000 additional required funds The low bidder has offered to reduce his bid by $30,000 if award is made not later than March 15 1980 DATE REFERENCE SUBJECT Award Of Contract - Urban PAGE NUMBER Development Action Grant for Public or~ ~(. 3/13/80 C-5014 Plaz an - - It is proposed that the $751,000 be provided by a transfer of funds from the Capital Projects Reserve Fund and that up to $2 000 000 be provided by the issuance of Certificates of Obligation The estimated 'Hotel Occupancy tax from the new Hyatt Regency Hotel will support a minimum of $2 000 000 in Certificates of Obligation Recommendations It is recommended that 1 $751 000 be transferred from the Capital Projects Reserve Fund to Project 212642 and 2 A contract be awarded to Henry C Beck Company in the amount of $6 207 000 with the following proviso The City s obligation under this contract is limited to the funds of the City on hand and availa ble to pay the contract in the amount of $4 969 000 The remainder of the contract price shall be paid from the proceeds of Certificates of Obligation to be issued by the City and the City s obligation to pay said remaining contract price shall arise only upon the City s issuance and delivery of said Certificates of Obligation VS ga APPROVED BY CITY C©UNC1L ~: ~~~ ~~ SUBMITTED FOR THE CITY MANAGER'S I C3 'pCLe .a r DISPOSITION BY COUNCIL o~ ~pxQ 4jp7, ~~ t2tpR~~i~"SED BY OFFICE BY ` ^ APPROVED ORIGINATING ^ OTHER (DESCRIBE) DEPARTMENT HEAD• Keith A Smith CITY SECRETARY FOR ADDITIONAL INFORMATION CONTACT .J lm Wi 1 son DATE