HomeMy WebLinkAboutResolution 3011A Resolution
NO ,3~1~
AUTHORIZING THE CITY MANAGER TO ENGAGE IN NEGOTIATIONS WITH
AUSTIN COMMERCIAL INCORPORATED AND OMNI HOTELS FOR THE
DEVELOPMENT OF A CONVENTION CENTER HOTEL
WHEREAS, on June 10 2003 after a comprehensive study of the issues related to
conventions and tourism in Fort Worth and after holding two public forums the Citizens
Committee for Fort Worth s Future found that Fort Worth has the amenities attractions and
services to attract mid-sized conventions and that a nee exists for a convention center hotel and
WHEREAS the City Council received the report of the Citizens Committee for Fort Worth s
Future and referred the report and the convention center hotel issue to the City Council Central
City Revitalization and Economic Development Committee for further review and direction and
WHEREAS, the City Council upon the recommendation of the Central City Revitalization
and Economic Development Committee and in order to gauge the interest of private developers
authorized the issuance of a Request for Proposals (RFP) for the Development of a Convention
Center Hotel of not less than 400 rooms and
WHEREAS the City received responses to the RFP on or before August 28 2003 from
nine development firms and
WHEREAS the Central City Revitalization and Economic Development Committee
evaluated the nine responses to the RFP based on the best value to the City the developers ability
to provide the required- equity and debt financing and project innovation and creativif;~ and the risk
to the City• and
WHEREAS on November 17 2003 the Central City Revitalization and Economic
Development Committee interviewed four of the nine interested firms and recommended to the City
Council that the City Manager engage in negotiations with two of the four firms for the development
of a Convention Center Hotel
NOW, THEREFORE, BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH TEXAS
1 That the City Manager is hereby authorized to engage in negotiations with Austin
Commercial Incorporated and Omni Hotels (each a `Developer") separately and individually to
develop a Memorandum of Understanding or other term. sheet which if accepted and approved by
the City Council, will serve as the basis for the negotiation of a formal agreement between the City
and Developer and
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2 That the formal agreement will outline the terms and conditions related to the
development of a convention center hotel adjacent to the convention center with the understanding
that the City Manager shall enter into an agreement with the firm whose terms are in the best
interests of the City and that these actual agreements will not be executed unless subsequently
and specifically authorized by the City Council and
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3 That if a Memorandum of Understanding or other term sheet is not agreed upon
within a period of ninety days from the date of this Resolution the City Manager shall report to the
Council the status of the negotiations and with additional City Council direction continue in
negotiations or may terminate negotiations and enter into negotiations with an alternative firm for
the development of a convention center hotel
AND IT IS SO RESOLVED
Adopted this ~'u~ day of December 2003
ATTEST
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Gloria Pearson -~. ~ ~i
City Secretary
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