HomeMy WebLinkAboutContract 53666 Date Received: Mar 17, 2020 City Secretary
Time Received: 3:38 P M Number: 53666
FUTURE IMPROVEMENTS AGREEMENT
FOR
INFRASTRUCTURE IMPROVEMENTS
NORTH QUARTER 35
WHEREAS, the City of Fort Worth ("City") has entered into that certain Community
Facilities Agreement(CFA19-0157)("CFA")with FW I-35 Logistics Center,LLC("Developer");
and
WHEREAS, the CFA includes Developer's proportionate share of the construction of
Paving and Storm Drain Improvements, a portion of which is within both Golden Triangle and =
I- 35W, as shown on Exhibit A; and
WHEREAS, in lieu of the Developer, pursuant to the CFA, constructing those certain
improvements for North Quarter 35 Paving and Storm Drain improvements within Golden
Triangle Blvd and I-35W,as shown on Exhibit B(the"Improvements"),City will instead construct
the Improvements as part of Future Improvement North Quarter 35 work ("Work"), with
Developer contributing to the City those funds it would have spent to construct the Improvements
and the City performing the Work at a later time; and
WHEREAS, Developer desires to provide to the City funds in the amount of $353,801.00
("Developer Funds") for the City to construct the Improvements as part of the Work; and
WHEREAS, the City agrees to accept the Developer Funds in full satisfaction of D
&veloper's obligation under the CFA to construct the Improvements, and the City agrees to
construct the Improvements subject to the terms of this Agreement; and
WHEREAS, the determination of the amount of Developer's Funds is not an assessment
pursuant to Chapter 313 of the Texas Transportation Code.
FR10AL RECORD
0TY SECRETARY
FT: WORTH,TX
Page 1 of 6
Developer Funding Agreement—North Quarter 35 CFA
NOW THEREFORE, in consideration of the above recitals, incorporated herein for all
purposes, City and Developer, acting by and through their duly authorized representatives, do
hereby agree as follows:
1.
The City may construct (or cause to be constructed) the Improvements at a time
convenient to the City provided that adequate public funds, including the Developer Funds, for
construction of the Improvement are secured.
2.
Concurrently herewith, Developer has paid to the City the amount of$353,801.00, and
Developer and City agree, that such Developer Funds are the entire amount of Developer's
contribution for the cost to construct the Improvements.
By accepting the Developer Funds and by execution of this Agreement, City agrees that
the Developer will have no further obligation to pay any amounts in addition to the Developer
Funds or take any further action with regard to the construction of the Improvements, even if(a)the
actual costs to construct the Improvements exceed the costs expected by the City as of the date of
this Agreement, (b) the specifications, composition, or other characteristics of the Improvements
hereafter change for any reason, (c) a mistake has been made (mutual or unilateral) in computing
the costs of the Improvements or otherwise, or(d) the costs or scope of the Improvements change
for any reason.
3.
This Agreement shall be binding upon and inure to the benefit of the City and Developer
and their respective successors and assigns. This Agreement, together with any exhibits attached
hereto,constitutes the entire agreement between the parties hereto,and may not be amended except
by a writing signed by all parties and dated subsequent to the date hereof.
4.
The City will use its best reasonable efforts to construct the Improvements without undue
delay,but City's construction will be subject to City securing the additional funding which may be
necessary to fully construct the Work.
Executed by each party's duly designated and authorized representative; effective as of the
date subscribed by the City's designated Assistant City Manager.
SIGNATURES APPEAR ON THE FOLLOWING PAGE
Page 2 of 6
Developer Funding Agreement—North Quarter 35 CFA
CITY OF FORT WORTH DEVELOPER:
FW I-35 Logistics Center LLC
By: M2G I-35 Logistics Center GP, LLC
Its Managing Member
Jesus J.Chapa(Mar 17,2020)
Jesus J. Chapa Susan Gruppi
Assistant City Manager Manager
City Manager's Office
Date: Mar 17, 2020 Date: Mal' 11, 2020
CONTRACT COMPLIANCE MANAGER:
By signing I acknowledge that I am the person
responsible for the monitoring and administration
of this contract, including ensuring all performance
and report requirements.
.1a`ue-aCIIIWL{-lywr44--Jr
Janie Scarlett Morales(Mar 11,2020)
Janie Scarlett Morales
Development Manager
Development Services Department
Date: Mar 11, 2020
C3� FO
ON
APPROVED AS TO FORM & LEGALITY: ATTEST: ` "`' "
D31ack(Mar 17,2020) Mary J.kayser(Mar 17, 20)
Douglas Black Mary Kayser/Ronald Got ."
\ pw,
Sr. Assistant City Attorney City Secretary/Asst. City Secretary "
City Attorney's Office City Secretary's Office
M&C No. Date: Mar 17, 2020
Form 1295:
Mar 17 2020
Date: OFFICIAL, RECOR01
CITY SECRETARY'
FT. WORTH, 7X
Page 3 of 6
Developer Funding Agreement—North Quarter 35 CFA
The following attachments are incorporated into this Agreement. To the extent a
conflict exists between the main body of this Agreement and the following attachments, the
language in the main body of this Agreement shall be controlling.
Included Attachment
❑X Exhibit A: Location Map
❑X Exhibit B: Improvements
(Reminder of Page Intentionally Left Blank)
Page 4 of 6
De-eloper Funding Agreement—North Quarter 35 CFA
EXHIBIT A: Location Map
Page 5of6
Developer Funding Agreement—North Quarter 35 CFA
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EXHIBIT B: Improvements
Page 6 of 6
Developer Funding Agreement—North Quarter 35 CFA
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