HomeMy WebLinkAboutContract 45858-A1 CITY SECRETARY
"PA CT NO. -AI_.
CITY OF FORT WORTH
FIRST AMENDMENT OF AGREEMENT
This FIRST AMENDMENT of AGREEMENT between the City of Fort Worth,("City")and
Fort Worth South, Inc., ("FWSI")amends the ORIGINAL AGREEMENT (City Secretary#45858),
for the Near Southside Medical District Street Repair and Reconstruction Program("Program").
WHEREAS,the ORIGINAL AGREEMENT was authorized by M&C C-26906,August 5,
2014;and
WHEREAS, it has become necessary to amend the ORIGINAL AGREEMENT to
increase the funding,under the shared funding model,by an additional$3,000,000 in order to
complete the Program and, if sufficient funds are remaining to add additional streets;and
WHEREAS,the Tax Increment Reinvestment Zone No.4("Southside TIF")will
contribute up to$1,500,000;and
WHEREAS,the City will contribute up to$1,500,000 from legacy residuals from the
Street Rehabilitation Fund;
NOW,THEREFORE,it is agreed by the CITY and FWSI as follows:
Article I
The ORIGINAL AGREEMENT, is hereby amended to add up to $3,000,000 in additional
funds,sourced as described above,for the completion of the Program and for additional streets as those
funds may allow.
Article II
There are no other changes to the ORIGINAL AGREEMENT.
REMAINDER OF PAGE INTENTIONALLY BLANK
SIGNATURE PAGE TO FOLLOW
�lSCq qqY OFFICIAL RECORD
CITY
'�S(ECRETARY
First Amendment of Agreement CS#45858 FT. "raQ ge ��I�TX
Fort Worth South,Inc.
EXECUTED and EFFECTIVE as of the date subscribed ty the City's designated Assistant City
Manager.
City of Fort Worth Fort Worth South,Inc.
Dana Bur off Mike Brennan,President
Interim Assistant City Manager
DATE: 116(7-02-C) DATE: 2
AP OVAL RECOMMENDED:
Willi Jo on,Director
Transpo _tion/Public Works Department
Contract Compliance Manager:
By signing,I acknowledge that I am the person responsible for the monitoring and administration
Of this contr ct,including ensuring all perl'o mance and reporting requirements.
Mary H
Sr a ngineer
APPROVED AS TO FORM AND LEGALITY:
M&C: 19-0347
Date: 12/03/2019
hib Iag5 516143-4
Douglas W.Black
Sr.Assistant City Attorney . .
ATTES
Mary J.Kayser = t
City Secretary r'
* ` OFFICIAL RECORD
� . CITY SECRETARY
FT. WORTH,TX
First Amendment of Agreement CS#45858 Page 2 of 2
Fort Worth South,Inc.
M&C Review Page 1 of 2
Official site of the City of Fort Worth,Texas
CITY COUNCIL AGENDA FaRrIr—
i
REFERENCE **M&C 19- 20CD9 STREET REPAIR AND
DATE: 12/3/2019 NO.: 0347 LOG NAME: RECONSTRUCTION
AMENDMENT
CODE: C TYPE: CONSENT PUBLIC NO
HEARING:
SUBJECT: Adopt a Resolution Authorizing the Execution of Amendment No. 1 to City Secretary No.
45858, the Funding Agreement with Fort Worth South, Inc. in the Amount of
$3,000,000.00 for the Near Southside Medical District Street Repair and Reconstruction
Program for a Revised Amount of$13,000,000.00; Authorize the Acceptance of Funds in
an Amount Up to $1,500,000.00 from Tax Increment Reinvestment Zone No. 4 and Adopt
Appropriation Ordinances; and Amend the FY 2020-2024 CIP (COUNCIL DISTRICT 9)
RECOMMENDATION:
It is recommended that the City Council:
,,A. Adopt the attached Resolution authorizing the execution of Amendment No. 1 to City Secretary
No. 45858, the Funding Agreement with Fort Worth South, Inc., in the amount of$3,000,000 for the
Near Southside Medical District Street Repair and Reconstruction Program for a revised amount of
$13,000,000.00;
2. Authorize the acceptance of funding in the amount up to $1,500,000.00 from Tax Increment
Reinvestment Zone No. 4;
3. Adopt the attached appropriation ordinance increasing appropriations in the TIRZ#4 -Southside
Med Dist Fund in the amount up to $1,500,000.00 for the purpose of transfering to the TIRZ-General
Capital fund;
4. Adopt the attached appropriation ordinance increasing the estimated receipts and appropriations
in the TIRZ-General Capital Fund in the amount up to $1,500,000.00, upon receipt of funds, for the
Council District 9 Street Repair and Reconstruction Program;
5. Adopt the attached appropriation ordinance increasing the appropriations in the Street
Rehabilitation Fund from available funds in the amount up to $1,500,000.00, upon receipt of funds,
for the Council District 9 Street Repair and Reconstruction Program; and
6. Amend the FY 2020-2024 CIP by increasing funding in the Near Southside Medical District Street
Repair and Reconstruction Program by$3,000,000.
DISCUSSION:
On August 5, 2014, (M&C C-26906) the City Council adopted Resolution No. 4342-08-2014
authorizing a Funding Agreement with Fort Worth South, Inc., in the amount of$10,000,000.00 for
Council District 9 Near Southside Medical District Street Repair and Reconstruction Program (City
Secretary No. 45858). The Program leveraged funding in an amount up to$5,000,000.00 from the Tax
Increment Reinvestment Zone No. 4 (Southside TIF) over four years. The City of Fort Worth matched
the funds in an amount up to $5,000,000.00 using 2014 Bond Program-Grant Matches Funds. The
program included 50 street segments to be constructed in four sequential projects.
As delivery of the projects has progressed, it has become clear that the remaining funding is
insufficient to complete the original scope. The revised estimate, based on recent pricing,to complete
the remaining work requires approximately$3,000,000.00 in additional funding. The revised Funding
http://apps.cfwnet.org/council_packet/mc_review.asp?1D=27494&councildate=12/3/2019 12/6/2019
M&C Review Page 2 of 2
Agreement increases the total commitment by$3,000,000.00 for which the costs will be split 50/50
between the City and the Tax Increment Reinvestment Zone No. 4 (Southside TIF). The City
participation will be matched with legacy residuals from the Street Rehabilitation Fund.
Funding for this project was not included in the FY2020-2024 Capital Improvement Plan due to
insufficient funding to complete the original scope. The action in this M&C will amend the FY2020-
2024 Capital Improvement Plan.
This program is located in COUNCIL DISTRICT 9.
FISCAL INFORMATION/CERTIFICATION:
The Director of Finance certifies upon approval of the above recommendations and adoption of the
attached appropriation ordinances, funds will be available in the TIRZ#4 -Southside Med Dist Fund,
the TIRZ-General Capital Fund, and the Street Rehabiliation Fund. Prior to an expenditure being
incurred, the Transportation & Public Works Department has the responsibility of verifying the
availability of funds.
TO
Fund Department Account Project Program Activity Budget Reference# Amount
ID ID Year Chartfield 2
FROM
Fund Department Account Project Program Activity Budget Reference# Amount
ID ID Year Chartfield 2
Submitted for City Manager's Office by: Dana Burghdoff(8018)
Originating Department Head: William Johnson (7801)
Additional Information Contact: Lane Zarate (7802)
ATTACHMENTS
20CD9 STREET REPAIR AND RECONSTRUCTION AMENDMENT MAP.pdf
20CD9 STREET REPAIR AND RECONSTRUCTION AMENDMENT 28604 A020r.docx
20CD9 STREET REPAIR AND RECONSTRUCTION AMENDMENT 30286 A020r.docx
20CD9 STREET REPAIR AND RECONSTRUCTION AMENDMENT 39408 A020r.docx
20CD9 STREET REPAIR AND RECONSTRUCTION AMENDMENT RESOLUTION
(10.16.19)(Rev 11.14.19).docx
http://apps.cfwnet.org/council_packet/mc_review.asp?ID=27494&councildate=12/3/2019 12/6/2019