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HomeMy WebLinkAboutContract 51715-A1 04/01/19 CQ C�X51-1 15 2:59 PM FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 51715 A COMMUNITY FACILITIES AGREEMENT BETWEEN THE CITY OF FORT WORTH AND ROSEDALE ACQUISITION,LP This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 51715 ("First Amendment") is made and entered into by and between The City of Fort Worth, a home- rule municipal corporation of the State of Texas("City"),acting by and through its duly authorized Assistant City Manager, and Rosedale Acquisition LP, a Texas limited partnership ("Developer"), acting by and through its duly authorized representative. WHEREAS, the City and Developer entered into a Community Facilities Agreement, City Secretary Contract No. 51715("Agreement"or"CFA"),wherein Developer is to make certain public improvements related to a project generally described as Rosedale Multifamily, City Project Number 101546 ("Project"); and WHEREAS, Developer provided with a cash escrow in the amount of$794,328.45 as the financial guarantee for the Agreement in the amount of one hundred twenty-five percent of the construction costs as required by the City's Policy for the Installation of Community Facilities ("CFA Policy"); and WHEREAS, the Developer has not proceeded to construction on the Project and desires to replace the cash escrow with a development bond in the amount of one hundred percent of the construction costs as the financial guarantee for the CFA; NOW THEREFORE, City and Developer, acting herein by and through their duly authorized representatives, enter into the following agreement, which amends the City Secretary Contract No. 51715: 1. The Cost Summary Table of the CFA is amended to be and read: AMENDMENT NO.1 TO CITY SECRETARY CONTRACT NO.51715 O ff Q#LfRECORD A COMMUNITY FACILITIES AGREEMENT BETWEEN CITY SECRETARY THE CITY OF FORT WORTH AND ROSEDALE ACQUISITION,LP FT. WORTH, TX Items Developer's Cost A. Water and Sewer Construction 1. Water Construction $ 109,186.00 2.Sewer Construction $ 39,685.00 Water and Sewer Construction Total $ 148,871.00 B. TPW Construction 1.Street $ 339,044.26 2.Storm Drain $ 31,210.00 3.Street Lights Installed by Developer $ 116,337.50 4. Signals $ TPW Construction Cost Total $ 486,591.76 Total Construction Cost(excluding the fees): $ 635,462.76 Construction Fees: C. Water/Sewer Inspection Fee(2%) $ 2,977.42 D. Water/Sewer Material Testing Fee(2%) $ 2,977.42 Sub-Total for Water Construction Fees $ 5,954.84 E. TPW Inspection Fee(4%) $ 14,810.17 F. TPW Material Testing(2%) $ 7,4051.09 G. Street Light Inspsection Cost $ 4,653.50 H. Signals Inspection Cost $ H. Street Signs Installation Cost $ _ Sub-Total for TPW Construction Fees $ 26,868 76 Total Construction Fees: $ 32,823.60 Choice Financial Guarantee Options,choose one Amount (Mark one) Bond=100% $ 635,462.76 x Completion Agreement=100%/Holds Plat $ 635,462.76 Cash Escrow Water/Sanitary Sewer=125% $ 186,088.75 Cash Escrow Paving/Storm Drain=125% $ 608,239.70 Letter of Credit=125%wl2 r expiration period $ 794,328,45 2. The City agrees that upon execution of this First Amendment and delivery of a development bond in the amount of six hundred thirty-five thousand, four hundred sixty-two dollars and seventy-six cents ($635,462.76), the City will begin processing the refund of Developer's cash escrow in the amount of seven hundred ninety-four thousand, three hundred twenty-eight dollars and forty-five cents($794,328.45). AMENDMENT NO.1 TO CITY SECRETARY CONTRACT NO.51715 Page 2 of 4 A COMMUNITY FACILITIES AGREEMENT BETWEEN THE CITY OF FORT WORTH AND ROSEDALE ACQUISITION,LP 3. Developer agrees that construction of the Project shall not commence until Developer provides the City with the development bond in the amount of six hundred thirty-five thousand, four hundred sixty-two dollars and seventy-six cents ($635,462.76). 4. (a) All terms in this First Amendment that are capitalized, but not defined, shall have the meanings ascribed to them in the CFA. (b) All other provisions of the CFA,which are not expressly amended herein, shall remain in full force and effect. [SIGNATURES ON FOLLOWING PAGE] AMENDMENT NO. 1 TO CITY SECRETARY CONTRACT NO.51715 Page 3 of 4 A COMMUNITY FACILITIES AGREEMENT BETWEEN THE CITY OF FORT WORTH AND ROSEDALE ACQUISITION,LP IN TESTIMONY WHEREOF, the City and Developer'have executed this instrument to be effective on the date signed by the City's Assistant City Man ger. CITY OF FORT WORTH DEVELOPER Rosedale Acquisition LP s J.Chapa(Mar 019) By: Rosedale Ft Worth Gen Par LP Jesus J. Chapa It's General Partner Assistant City Manager Mar 29,2019 By: HAD -Rosedale Gen Par LLC Date: It's Manager Recommended by: Z 41f p W Brian Crowell(Mar 28,2019) Name: Brian Crowell Evelyn Robe (Mar 28,2019) Title: Manager Evelyn Roberts/Jennifer Ezemack Mar 28,2019 Project Assistant Date: Planning and Development Department Approved as to Form &Legality Kichard A.MccracKBn Richard 0.McCracken:?.1,29,2019( Richard A. McCracken Assistant City Attorney M&C No. N/A Contract Compliance Manager: Date: ©RT By signing; I acknowledge that I am the Form 1295: • 0 person responsible for the monitoring and administration of this contract, including all ATTEST: j :_ performance and reporting requirements. /YIK//.� 7 l�R1�121" Janie�tt W— ., Mary J. y r(A—pr1 1T 1) Name: Janif° Morales Mary J. Kayser/Ronald Gonzales Title: Development Manager City Secretary/Assistant City Secretary OFFICIAL RECORD CITY SECRETARY AMENDMENT NO.1 TO CITY SECRETARY CONTRACT NO.5171$ ?fFW0VTHTX A COMMUNITY FACILITIES AGREEMENT BETWEEN THE CITY OF FORT WORTH AND ROSEDALE ACQUISITION,LPI