HomeMy WebLinkAboutContract 33840-A1 STATE OF TEXAS § CITY SECRETARY
CONTRACT N0.,.� 3 qO ' al
COUNTY OF TARRANT §
AMENDMENT NO. 1 TO CITY SECRETARY CONTRACT NO. 33840
TAX ABATEMENT AGREEMENT BETWEEN
CITY OF FORT WORTH; CENTREPORT PROPERTIES, INC.;
AND CUNA MUTUAL INSURANCE SOCIETY
This AMENDMENT NO. 1 TO CITY SECRETARY CONTRACT NO.
33840 ("Amendment") is entered into by and between the CITY OF FORT WORTH
(the "City"), a home rule municipality organized under the laws of the State of Texas;
CENTREPORT PROPERTIES, INC. ("Centreport"), a Texas corporation; and
CUNA MUTUAL INSURANCE SOCIETY ("CUNA"), a mutual insurance company.
The City, Centreport and CUNA hereby agree that the following statements are
true and correct and constitute the basis upon which the City, Centreport and CUNA have
entered into this Amendment:
A. The City, Centreport and CUNA previously entered into that certain Tax
Abatement Agreement on file in the City Secretary's Office as City Secretary Contract
No. 33840 (the "Agreement"). The Agreement required Centreport to expend or cause
to be expended at least $10 million in Construction Costs to construct an approximately
108,000 square foot financial services office and call center (the "Required
Improvements") on the Land subject to Abatement, which is owned by Centreport and
leased to CUNA, and to install at least $2 million in taxable new tangible personal
property on the Land, as more specifically set forth in the Agreement. In return,
Centreport is eligible to receive a ten (10)-year, maximum seventy-five percent (75%)
Abatement on the increase in the Land and any improvements located thereon, including
the Required Improvements, but excluding any leasehold interest in the Land or
improvements owned by CUNA.
B. Under the Agreement, the percentage of Abatement that Centreport is
entitled to receive in a given year of the Abatement Term is dependent on whether, and in
some cases, the extent to which CUNA meets certain annual employment and supply and
service spending commitments. The parties have discovered a typographical error in one
of those provisions and wish to amend the Agreement in order to correct that error.
C. This Amendment is authorized under § 312.208 of the Texas Tax Code
because (i) the provisions of this Amendment could have been included in the original
Agreement and (ii) this Amendment has been entered int f6flowing4he same procedure
in which the Agreement was approved and executed. OFFICIAL RECORD
CITY SECRETARY
Page 1 of 5 ';T,
Amendment No. 1 to CSC No.33840
Tax Abatement Agreement between City of Fort Worth.Centreport Properties,
and CUNA Mutual Insurance Society
NOW, THEREFORE, the City, Centreport and CUNA, for and in consideration
of the terms and conditions set forth herein, do hereby contract, covenant and agree as
follows:
1. The last two (2) sentences of Section 2.1.6.2 of the Agreement (Abatement Based
on Number of Full-time Jobs with Central City Residents/Subsequent Years of
Abatement Term) are hereby amended to read as follows:
If CUNA fails to meet the Central City Employment Commitment in a
given year, and such failure is by less than ten (10) Full-time Jobs, then
Centreport shall receive an Abatement in the following year equal to ten
percent (10%) minus one percent (1%) for each Full-time Job by which
the Central City Employment Commitment was not met. If CUNA fails to
meet the Central City Employment Commitment in a given year, and such
failure is by ten (10) Full-time Jobs or more, then Centreport shall not be
eligible to receive any portion of the ten percent (10%) Abatement
available under this Section 2.1.6.2.
2. Capitalized terms used but not identified in this Amendment shall have the same
meanings assigned to them in the Agreement.
3. Except as otherwise specifically amended in this Amendment, the Agreement shall
remain in full force and effect.
4. This Amendment contains the final written expression of the City and CUNA
with respect to the subject matter hereof. This Amendment may be executed in multiple
counterparts, each of which shall be considered an original, but all of which shall
constitute one instrument.
EXECUTED as of the last date indicated below:
[SIGNATURES IMMEDIATELY FOLLOW ON NEXT THREE (3)PAGES]
Page 2 of 5
Amendment No. I to CSC No.33840
Tax Abatement Agreement between City of Fort Worth,Centreport Properties,Inc.
and CUNA Mutual Insurance Society
CITY OF FORT WORTH: APPROVED AS TO FORM AND
LEGALITY:
By: NBy:
Sus A s Peter Vaky
is ant City Manager Deputy City Attorney
Date:�15 << M& C: C-21507 6-13-06
(no add'1 M&C required)
ATTEST: .o-Q*.�QR T'
�o„ 00 J
\ U o (�
By: )
O O
� } o �
City Secretary r3
Q * 0°00°0°°° .cr
STATE OF TEXAS § 44""
COUNTY OF TARRANT §
BEFORE ME, the undersigned authority, on this day personally appeared Susan
Alanis, Assistant City Manager of the CITY OF FORT WORTH, a municipal
corporation organized under the laws of the State of Texas, known to me to be the person
and officer whose name is subscribed to the foregoing instrument,and acknowledged to me
that the same was the act of the CITY OF FORT WORTH, that she was duly authorized
to perform the same by appropriate resolution of the City Council of the City of Fort Worth
and that she executed the same as the act of the CITY OF FORT WORTH for the
purposes and consideration therein expressed and in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this ? day of
2011.
{ I`
Notary Public in and for ���n' '� LINDA M.HIRRUNGER�v coMMissloN EXPIRES
the tate o Texas ;`` • IONWJY 9.EXP
Il1'l��t rr t tv/
14
Notary's Printed Name
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH. TX
Page 3 of 5
Amendment No. 1 to CSC No.33840
Tax Abatement Agreement between City of Fort Worth,Centreport Properties,Inc.
and CUNA Mutual Insurance Society
CENTREPORT PROPERTIES, INC.,
a Texas corporation:
By:
Name: aniel J. Bradley
Title: Authorized Signatory
Date:
ATTEST:
By:
STATE
COUNTY O §
BEF"RE ME,the undersigned authority, on this day personally appeared
,_of CENTREPORT
PROPERT S, INC., knwAo to me to be the person whose name is subscribed to the
foregoing instrument, and acknowledged to me that s/he executed the same for the
purposes and consideration therein expressed, in the capacity therein stated and as the act
and deed of CENTREPORT PROPERTIES,INC.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this
�. pday of�� ,2011.
ary Public in and for
the State of
=OfCOMMONWEALTH
PRISCO
( l Public
P MASSACHUSETTSsion Exprtes
Notary's Printed Name 18,2013
OFFICIAL RECORD MoVet JOw130
wj!dxuoissiwwoo AVily
CITY SECRETARY nHoVSSVW i0 HIIV3MNONDYoO N Y
oggnd MON +L
FT.WORTH,TX E03slud-w d
Page 4 of 5
Amendment No. 1 to CSC No.33840
Tax Abatement Agreement between City of Fort Worth,Centreport Properties,Inc.
and CLJNA Mutual Insurance Society
CUNA MUTUAL INSURANCE SOCIF,TV:
By:
ame: Charles D. 14amilton
Title: SVP, Business Finance
Date: April 25, 2011
ATTEST:
By: 9---- ,< -
Name: Brian K. Olson
Title: Sr. Manager—Facilities Administration
STATE OF WISCONSIN §
COUNTY OF DANE §
BEFORE ME, the undersigned authority, on this day personally appeared Charles
D. Hamilton, SVP, Business Finance of CUNA MUTUAL INSURANCE SOCIETY,
known to me to be the person whose name is subscribed to the foregoing instrument, and
acknowledged to me that s/he executed the same for the purposes and consideration therein
expressed, in the capacity therein stated and as the act and deed of CUNA MUTUAL
INSURANCE SOCIETY.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this
S ]on day of qt ,2011.
Notary Public in and for the S e of Wisconsin
Th�i,.,-er:,C,
Notary's Printed Name OFFICIAL RECORD
CITY SECRETARY
FT.WORTH,TX
Page 5 of 5
Amendment No. i to CSC No.33840
Tax Abatement Agreement between City of Fort worth,Centreport Properties,Inc.
and CLJNA Mutual Insurance Society