HomeMy WebLinkAboutIR 9985 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 9985
To the Mayor and Members of the City Council February 14, 2017
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*a SUBJECT: AMENDMENT TO ECONOMIC DEVELOPMENT PROGRAM
rrn AGREEMENT WITH CLEARFORK DEVELOPMENT COMPANY, LLC TO
EXTEND THE COMPLETION DEADLINE FOR THE FIRST PHASE
On February 18, 2014 (M&C C-26672), the City Council authorized execution of an Economic
Development Program Agreement (Agreement) with Clearfork Development Company, LLC, or an affiliate,
related to Clearfork, a mixed-use project to be constructed near the southwest intersection of West Vickery
Boulevard and South Hulen Street due south of Chisholm Trail Parkway. The planned development was
to be constructed in two phases, with the first phase to be completed by December 31, 2016.
This Agreement was executed as City Secretary Contract 45586, and was later amended (45586-A1) to
provide for a clarification in terminology from "certificate of occupancy for shell building space" to
"certificate of completion for shell building space" to confirm that the Agreement reflected current practice
for issuance by the Planning and Development Department.
The Agreement provides that deadlines established by the Agreement may be extended on account of
events that cause delays and that are not the fault of the performing party (identified in the Agreement as
events of force majeure).
In order to provide clarity to the rights of both the City and the developer, on November 15, 2016, City
Council approved amending the agreement to change the completion deadline for the first phase of the
development from December 31, 2016 to March 1, 2017 due to documented inclement weather delays.
Since that time, requirements for completion of shell building space have been further clarified to support
the intent of the agreement and amendment. Staff recommends an extension to the completion deadline
for the first phase of the development to September 1, 2017, to accommodate the additional work
necessary to meet the shell building space requirements. Per the Building Official, in order to meet the
shell space requirements, the property needs to have passed the following inspections:
1. Final Building Inspection (which includes Final MEP Inspections),
2. Final Fire Inspection, and
3. Final Parkway Inspection.
This constitutes a finished Shell Building, ready for a tenant finish out, which is an interior-only remodel.
This standard has now been set for shell building completion in economic development program
agreements.
Staff will place an M&C for City Council consideration on the February 21, 2017 agenda, requesting that
the completion deadline be revised to September 1, 2017.
If you have any questions concerning this information, please contact Robert Sturns, Economic
Development Director at 817-212-2663 or robert.sturns@fortworthtexas.gov.
David Cooke
City Manager
ISSUED BY THE CITY MANAGER FORT WORTH, TEXAS