HomeMy WebLinkAboutResolution 3307-01-2006A Resolution
NO 330712006
STATEMENT EXPRESSING OFFICIAL INTENT
TO REIMBURSE COSTS OF THE CONVENTION CENTER
PARKING GARAGE PROJECT
WHEREAS, the City of Fort Worth, Texas (the City') is ahome-rule municipality and
political subdivision of the State of Texas,
WHEREAS, the City expects to pay expenditures in connection with the design, planning,
acquisition and construction of the project described on Exhibit A hereto (collectively, the
"Project") prior to the issuance of obligations by the City in connection with the financing of the
Project from available funds,
WHEREAS, the City finds, considers, and declares that the reimbursement of the City for
the payment of such expenditures will be appropriate and consistent with the lawful objectives of
the City and, as such, chooses to declare its intention, in accordance with the provisions of Section
1.150-2 of the Treasury Regulations, to reimburse itself for such payments at such time as it issues
obligations to finance the Project,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH, TEXAS
Section 1. The City reasonably expects it will incur debt, as one or more series of
obligations, with an aggregate maximum principal amount not to exceed $20,000,000, for the
purpose of paying the aggregate costs of the Project.
Section 2. All costs to be reimbursed pursuant hereto will be capital expenditures. No tax
exempt obligations will be issued by the City in furtherance of this Statement after a date which is
later than 18 months after the later of (1) the date the expenditures are paid or (2) the date on
which the property, with respect to which such expenditures were made, is placed in service.
Section 3. The foregoing notwithstanding, no tax-exempt obligation will be issued pursuant
to this Statement more than three years after the date any expenditure which is to be reimbursed
is paid.
11~~ l~`+l'1I-1111 X1111
Resolution No. 3307-O1 2006
Adopted this 24t" day of anuar 2006.
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By.•~;
Marty
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Exhibit A
The construction of a parking garage in the vicinity of the Fort Worth Convention Center
containing approximately 1,200 spaces, and associated costs related thereto.
APPROVPD
CITY CCU~'CIL
JAN 2 ~ 1UU6
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City Secretary of the
City of Fori Worth, Texas
City of Fort Worth, Texas
Mayor and Council Communication
SUBJECT
Adopt Appropriation Ordinances and Reimbursement Resolution and Authorize Consultant
Agreement with Jacobs Facilities Inc for the Design and Construction Administration of a New
Downtown Parking Garage
RECOMMENDATION
It is recommended that the City Council
1 Adopt the attached appropriation ordinance increasing appropriations in the Culture and Tourism Fund
by $1 325 000 and decreasing the unreserved undesignated fund balance by the same amount;
2 Authorize the transfer of $1 325 000 from the Culture and Tourism Fund to the Specially Funded
Capital Projects Fund
3 Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Specially Funded Capital Projects Fund by $1 325 000 from available funds
4 Adopt the attached reimbursement resolution noting that the City expects to issue bonds for the
purpose of paying the costs of the project; and
5 Authorize a consultant agreement with Jacobs Facilities Inc. in the amount of $1,232,250 for the
design and construction administration of a new downtown parking garage
DISCUSSION
On July 14 2005 a Request for Qualifications was issued soliciting consultant services for the design of a
new downtown parking garage On August 11 2005 eight design firms/joint ventures submitted
qualifications packages The staff consultant selection committee ranked the eight firms/joint ventures and
subsequently interviewed the top four candidate firms/joint ventures Jacobs Facilities Inc. emerged from
the selection process as the top ranked candidate
A fee proposal was requested from Jacobs Facilities Inc. and negotiations resulted in a fee agreement of
$1,232,250 In addition to the cost of the architectural agreement, $92 750 is included in the appropriations
recommended by this M&C to cover other design related expenses (e g city staff project management
charges and geo-technical engineering)
Jacob's Facilities Inc. is in compliance with the City's M/WBE ordinance by committing to 26% M/WBE
participation The City's M/WBE goal for this agreement is 25%
The reimbursement resolution is required under tax law to allow the City to reimburse itself from bond
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proceeds at some future date for all costs incurred on the project prior to the issuance of tax-exempt bonds
The new garage will be physically located in COUNCIL DISTRICT 9 but will serve Fort Worth residents in
all Council Districts
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that upon approval of the above recommendations and adoption of the
appropriation ordinances funds will be available in the current capital budget, as appropriated of the
Specially Funded Capital Projects Fund The unreserved designated fund balance of the Culture and
Tourism Fund will be $16 788 251 63 after this appropriation
TO Fund/Account/Centers
1.) GG04 538070 0240400 $1 325,000.00
3.) C291 472004 301070013630 $1,325.000.00
3.) C291 511060 301070013630 $40.000.00
3.) C291 531060 301070013630 $52.750.00
Logname 20JACOBS
FROM Fund/Account/Centers
GG04 538070 0240400
C291 531200 301070013630
$1,325,000.00
$1,232.250.00
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