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HomeMy WebLinkAboutResolution 2600A Resolution Adopted Res~lutr~n i~o ~o.© Approving the Architects' Schematic Design and Source of Funding for the Fort Worth Convention Center Expansion Project WHEREAS a feasibility study was completed in 1996 that identified the need for the expansion and renovation of the Fort Worth Convention as an immediate priority in order to relieve the competitive disadvantage and provide added economic impact; and WHEREAS, General Obligation Bonds in the amount of $19 million were approved in 1998 for the expansion and .renovation of the Fort Worth Convention Center and WHEREAS, a Two (2%) Percent Increase in Hotel/Motel Occupancy-Use Tax" was allocated for the Fort Worth Convention Center Expansion Project and is estimated to generate revenue in the amount of $21 million and WHEREAS, a special sales tax on rental cars has been approved by the City of Euless for the DFW Airport Rental Car Terminal as a result of an election held in November 1999 and such revenue is to be shared among Euless Fort Worth and Dallas and WHEREAS, tax revenues from the rental car fees would provide the additional funds for the Fort Worth Convention Center expansion project; and WHEREAS a Project Team comprised of a Project Manager Engineers Architects Representatives from the Fort Worth Convention and Visitors Bureau and City of Fort Worth Representatives have presented to the Fort Worth City Council a comprehensive Schematic Design for the proposed expansion and CITY OF FORT WORTH WHEREAS, the City Council reviewed the comprehensive Schematic Design for the Fort Worth Convention Center Expansion at the Special Meeting of the City Council on December 14 1999 and WHEREAS the various phases for the expansion includes new construction on the south end of the facility and extend west to Houston Street resulting in an expanded exhibit hall additional meeting rooms and a Ballroom at an estimated cost of $40 million and WHEREAS it is the desire of the Fort Worth. City Council to include a Grand South Entry to assure that the Fort Worth Water Gardens become an integral focal point for Convention Center activities at an estimated additional cost of $4 million and WHEREAS, the second phases of the Expansion Project will extend from the existing exhibit hall west and south to Houston Street and north to the southern most portion of the arena and wi{I result in additional exhibit hall space and meeting space at an estimated cost of $26 million NOW, THEREFORE, BE !T RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH 1) That the comprehensive Schematic Design Presented at the Special Meeting of the City Council on December 14 1999 be endorsed and approved 2) That the estimated cost of construction for Phase I Grand South Entry and Phase II and Phase II Additional be endorsed and approved CITY OF FORT WORTH 3) That revenues generated from the rental car fees at the DFW Airport Rental Car Terminal be utilized for the expansion and renovation of the Fort Worth Convention Center as anticipated in the Schematic Design as the first priority for the use of said revenues 4) That the City Manager pursue necessary and appropriate funding for the expansion phases as identified in this resolution This resolution is adopted this~~ day of December 1999 ~~. ~ ~~ Kenneth Barr Mayor of the City of Fort Worth ~^~. ~ f ~ "~' ~ y/ -~ ~ ~- ~. ~r > ~ ~ ~~ k-~ ~; ~~ Y=City Seccetary~ ;~.~~ >' .re~ ,~ APPROVED AS TO FORM AND LEGALITY ~j ~~' Assistant City Attorney CITY OF FORT WORTH ~_ • •