HomeMy WebLinkAboutContract 39885CITY SECRETARY i/P�
CONTRACTNO. �
TAX INCREMENT FINANCING
DEVELOPMENT AGREEMENT
South Adams Parallel Parking Design and Construction
This TAX INCREMENT FINANCING DEVELOPMENT AGREEMENT
("Agreement") is entered into by and between the BOARD OF DIRECTORS OF TAX
INCREMENT REINVESTMENT ZONE NUMBER FOUR, CITY OF FORT WORTH,
TEXAS (the "Board"), an administrative body appointed in accordance with Chapter 311 of the
Texas Tax Code (the "TIF Act") to oversee the administration of Tax Increment Reinvestment
Zone Number Four, City of Fort Worth, Texas, a reinvestment zone designated by ordinance of the
City of Fort Worth in accordance with the TIF Act, and the CITY OF FORT WORTH ("City"),
a home rule municipal corporation organized under the laws of the State of Texas.
The Board and City hereby agree that the following statements are true and correct and
constitute the basis upon which the Board and City have entered into this Agreement:
A. On November 25, 1997 the City Council adopted Ordinance No. 13259,
establishing Tax Increment Financing Reinvestment Zone Number Four, City of Fort Worth,
Texas (the "TIF District"), and establishing the tax increment fund of the TIF District (the "TIF
Fund").
B. On August 30, 1999 the Board adopted a project and financing plan for the TIF
District (the "TIF Project Plan") . The TIF Project Plan was approved by the City Council on
August 31, 1999 pursuant to Ordinance No. 13919.
C. As part of the City's overall plan for streetscape improvements in the TIF District
that provide for on -street parking and walkable tree -lined streets, in conjunction with a pavement
resurfacing project the City wishes to retrofit South Adams St. between Rosedale Street and
Magnolia Avenue to recess the current location of curbs to allow for parallel parking spaces on
either side of a two-lane roadway with a planting strip with street trees and sidewalks, generally in
accordance with the overall plan attached hereto as Exhibit "A", which is hereby made a part of
this Agreement for all purposes (the "Project"). In accordance with the City's powers set forth in
Section 311.008 of the TIF Act, and with the Board's consent, as authorized by the Board during
its meeting on January 29, 2009, the City wishes to use up to $185,000.00 of revenues in the TIF
Fund to pay for or reimburse the City for the costs of the Project. The Board and the City wish to
enter into this Agreement to memorialize the manner in which such funds will be transferred from
the TIF Fund to other appropriate funds or accounts of the City. Of the $185,000.00 that is
requested, $150,000.00 was approved for this Project by the Board on July 19, 2007.
D. The TIF Project Plan specifically authorizes the use of revenues in the TIF Fund to
pay for streetscape and boulevard projects in the TIF District. Accordingly, the costs of the Project
qualify as lawful "project costs", as that term is defined in Section 311.002(1) of the TIF Act
("Project Cost").
Page 1
Development Agreement for South Adams St. Parallel Parking Design and Construction
between Southside TIF and City of Fort Worth
OF rILIAL RECORD
CITY SECRETARY
FT. WORTH, TX
NOW, THEREFORE, the Board and the City, for and in consideration of the terms and
conditions set forth herein, do hereby contract, covenant and agree as follows:
1. CITY'S OBLIGATIONS.
The City will oversee and be responsible for all aspects of the Project. The Project will be
constructed m accordance with all Legal Requirements applicable to the City In satisfaction of
Section 311.0101 of the TIF Act, the Project shall be subject to the Crty's Minority and Women
Business Enterprises Pohcies and Disadvantaged Business Enterprise Policies, as set forth in
Section 20-366 et seq. of the City Code.
2. TIF FUND CONTRIBUTIONS: PRIORITY OF PAYMENT.
The Board hereby acknowledges and consents to the transfer from the TIF Fund of up to
$185,000.00, in whole or in part, to other funds or accounts of the City that have been identified
as the funding source for the Project, of which approximately $153,000.00 has already been
transferred. The City will notify the Director of Fort Worth South, Inc , the administrator for the
TIF District, in advance of any subsequent transfers. Notwithstanding anything to the contrary
herein, such transfers shall be subject and subordinate to the following existing contractual
obligations of the Board:
(i) Payments made pursuant to that certain Agreement by and among the City, the
Board, and the Central City Local Government Corporation dated to be effective
December 7, 2005 (Magnolia Green Parking Garage);
(ii) Payments made pursuant to that certain Loan Agreement dated to be effective
December 7, 2005 by JPMorgan Chase Bank, N.A. and Central City Local
Government Corporation and any documents executed pursuant to such Loan
Agreement (Magnolia Green Parking Garage);
(iii) Payments made pursuant to that certain Facade Lease Agreement between the
Board and Max Mehl Building, LLC, dated as of October 18, 2005;
(iv) Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and Larimar Development, L L C. executed by
Larimar Development, L L C on June 1, 2006;
(v) Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and Park Hill Real Estate Partners, L P. executed
by Park Hill Real Estate Partners, L P on May 30, 2006;
Page 2
Development Agreement for South Adams St. Parallel Parking Design and Construction
between Southside TIF and City of Fort Worth
(vi)
Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and Fort Worth Southside Development District,
Inc. approved by the Board on July 27, 2006;
Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and Fort Worth South, Inc. approved by the Board
on January 10, 2007;
(viii) Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and Fort Worth Southside Development District,
Inc. approved by the Board on July 19, 2007;
(x)
Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and Tarrant Academy of Medicine approved by the
Board on July 19, 2007;
Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and South Adams, L P approved by the Board on
May 15, 2008;
Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and Gate Lock, Ltd approved by the Board on
May 15, 2008;
Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and Sameer Dalal approved by the Board on May
15, 2008;
(xiii) Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and R.J. Frank & Co., Inc approved by the Board
on May 15, 2008;
(xiv)
(xv)
(xvi)
Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and 1208 West Magnolia, Ltd approved by the
Board on May 15, 2008;
Payment made pursuant to that certain Facade Lease Agreement between the
Board and 1208 West Magnolia, Ltd. approved by the Board on May 15, 2008;
Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and the City, approved by the Board on May 15,
2008 (James E Guinn Public Plaza) (City Secretary Contract No. 38242);
Page 3
Development Agreement for South Adams St. Parallel Parking Design and Construction
between Southside TIF and City of Fort Worth
(xvii) Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and Fort Worth South, Inc., approved by the Board
on May 15, 2008 (W. Leuda Park/St Louis Park Construction);
(xviii) Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and Fort Worth South Inc., approved by the Board
on May 15, 2008 (Magnolia Avenue Streetscape Repair and Maintenance, Phase
I);
(xix) Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and Ann Lesok, approved by the Board on October
15, 2008 (1220 7th Avenue);
(xx) Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and Cook Children's Home Health, approved by
the Board on October 15, 2008;
Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and Minimax International, L L C (1800 Mistletoe
Blvd. Medical Building), approved by the Board on October 15, 2008,
Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and the City (W. Rosedale retrofit), approved by
the Board on October 15, 2008;
Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and Fort Worth South, Inc , approved by the Board
on January 29, 2009 (Magnolia Avenue Streetscape Repair and Maintenance,
Phase II);
Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and the City (Hemphill St. Re -Striping Design and
Engineering) approved by the Board on January 29, 2009;
(xxv) Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and PES Management, LLC approved by the
Board on January 29, 2009 (321 Henderson St. Medical Office Building); and
(xxvi) Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and Manu Group, LP approved by the Board on
January 29, 2009 (914 Lipscomb Medical Office Building and Apartments); and
(xxvii) Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and Square One Development, LLC approved by
the Board on January 29, 2009 (Lofts of St. Mary s); and
Page 4
Development Agreement for South Adams St. Parallel Parking Design and Construction
between Southside TIF and City of Fort Worth
(xxviii)Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board, Fort Worth South, Inc and the City approved by
the Board on June 24, 2009 (Magnolia Streetscape Repair and Maintenance,
Phase III)
(xxix) Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and Fort Worth South, Inc. approved by the Board
on June 24, 2009 (Schematic Design for South Main Streetscape Improvements)
and
(xxx) Payment made pursuant to that certain Tax Increment Financing Development
Agreement between the Board and the City approved by the Board on June 24,
2009 (South Main Sustainable Development Grant Local Match).
3. TERM.
The term of this Agreement shall commence on the later date of execution by both the
Board and City and expire upon the earlier of (i) the complete performance of all obligations and
conditions precedent by the Board and City; (ii) termination by either the Board or City as
permitted by this Agreement; or (iii) termination of the TIF District in accordance with Section
311.017 of the TIF Act.
4. NOTICES.
All written notices called for or required by this Agreement shall be addressed to the
following, or such other party or address as either party designates in writing, by certified mail,
postage prepaid, or by hand delivery*
Board: City:
Board of Directors Director
Southside TIF Housing & Economic Development Dept.
Attn Paul F. Paine, Administrator 1000 Throckmorton
1606 Mistletoe Boulevard Fort Worth, TX 76102
Fort Worth, TX 76104
5. COMPLIANCE WITH LEGAL REOUIREMENTS.
This Agreement and the Project are subject to all applicable federal, state and local laws,
ordinances, rules and regulations, including, but not limited to, all provisions of the City' s
Charter and ordinances, as amended, and violation of same shall constitute a default under this
Page 5
Development Agreement for South Adams St. Parallel Parking Design and Construction
between Southside TIF and City of Fort Worth
Agreement. In undertaking any work on the Project, City, its officers, agents, servants,
employees, contractors and subcontractors shall comply with all federal, state and local laws and
all ordinances, rules and regulations of the City, as such laws, ordinances, rules and regulations
exist or may hereafter be amended or adopted (collectively, "Legal Requirements").
6. SEVERABILITY.
If any provision of this Agreement is held to be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected
or impaired.
7. COUNTERPARTS.
This Agreement may be executed in any number of counterparts, each of which shall be
deemed an original and constitute one and the same instrument.
8. CAPTIONS.
The captions to the various clauses of this Agreement are for informational purposes only
and shall not alter the substance of the terms and conditions of this Agreement.
9. ENTIRETY OF AGREEMENT.
This Agreement, including any exhibits attached hereto and any documents incorporated
herein by reference, contains the entire understanding and agreement between the Board and
City, their assigns and successors in interest, as to the matters contained herein. Any prior or
contemporaneous oral or written agreement is hereby declared null and void to the extent in
conflict with any provision of this Agreement This Agreement shall not be amended unless
executed in writing by both parties and approved by the Board in an open meeting held in
accordance with Chapter 551 of the Texas Government Code.
IN WITNESS WHEREOF, the undersigned have caused this Agreement to be
executed:
Page 6
Development Agreement for South Adams St. Parallel Parking Design and Construction
between Southside TIF and City of Fort Worth
CITY OF FORT WORTH:
By:
Tom Higgins
Assistant City Manager
APPROVED AS TO FORM AND LEGALITY:
By:
Peter Vaky
Assistant City Attorney
M&C: none required
Attested by.
Marty Hendrix, ty Secretary
BOARD OF DIRECTORS OF TAX
REINVESTMENT ZONE NUMBER
FOUR, CITY OF FORT WORTH,
TEXAS:
Joe Burns
Chairman
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Page 7
Development Agreement for South Adams St. Parallel Parking Design and Construction
between Southside TIF and City of Fort Worth
OFFICIAL RECORD
CITY SECRETARY
Te WORTH, TX
EXHIBIT "A"
GENERAL RENDERING OF PROJECT
Development Agreement for South Adams St. Parallel Parking Design and Construction
between Southside TIF and City of Fort Worth
SCALE: 1" = 20'
0 10 20 40
OWNER:
TEXANA TOWNHOMES, LLC
2242 FOREST PARK BOULEVARD
FORT WORTH. TEXAS 76110
817-923-7321
MCCLEL
SURVEYOR' OIL.
GRANT ENGINEERING COMPANY
3244 HEMPHILL STREET
FORT WORTH, TEXAS 76110
817-923-3131 VOICE
817-923-4141 FAX
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LOT
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LOT
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LOT
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LOT
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LOT
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ExtSRP.G SANITARY SEY1£R LINE 1-437'
BLOCK 1
LAN'S SUBDIVISION
63, PACE 47
LOT
8
STA. 12+50
INTERSECTION OF
CENTERUNE OF WEST
OLEANDER STREET AND
CENTERUNE OF SOUTH
ADAMS STREET
NOTE: STATIONING IS ALONG THE
CENTERLINE OF THE RIGHT OF WAY.
NOTE: DURING CONSTRUCTION, ISOLATE
WATER MAIN BY USING THE VALVE LOCATED
AT THE INTERSECTION OF' ROSEDALE ANO
SOUTH ADAMS STREET AND THE VALVE
LOCATED AT THE INTERSECTION OF MAGNOLIA
AND SOUTH ADAMS STREET.
WEST O L E A
NCRETe
EAST 76.00'
INSTALL BLUE REFLECTIVE FIRE HYDRANT LOCA ON
MARKER. APEX UNIVERSAL MODEL .921
STA. 12+22.00, 4.00 RICH-
LOT 1 A CUT & PLUG AND -MOVE
EXISTING WATER OMR
CONSTRUCT WATER METER
STA. 12+05.92. 22.50' LEFT
INSTALL 8' TAPPING SLEEVE WITH CORPORATION ST0 .. &
29.5 L.F. OF 1" SERVICE UNE WITH METER BOX
LOT 18
BLOCK 4
L 0 T 2A
CUT & PLUG AND i MOVE
EXISTING WATER II. TER
CONSTRUCT WATER METER
STA. 11 +60.25, 14.50' LEFT
INSTALL 8" TAPPING SLEEVE WITH CORPORATION FOP &
21.5 L.F. OF 1' SERVICE UNE WITH METER BOX
LOT 29
L0T 3A
CUT d: PLUG AND REMOVE
EXIS`'TING WATER METER
CONSTRUCT WATER METER
STA. 11+05.58, 22.50' LEFT
INSTALL 8" TAPPING SLEEVE WITH CORPORATION STOP &
29.5 L.F. OF 1' SERVICE UNE WITH METER BO
LOT 38
LOT 4A
CUT & PLUG AND REMOVE
EXISTING WATER METER
CONSTRUCT WATER METER
STA. 10+62.02, 22.50' LEFT
INSTALL 8' TAPPING SLEEVE WITH CORPORATION STOP &
29.5 LF. OF 1" SERVICE UNE WITH METER BOX
CUT & PLUG AND REMOVE
EXISTING WATER METER
LOT 48
PROPOSED ORNAMENTAL STREET UGHT
POLE (SEE STREET LIGHT PLAN)
WEST 96.00'
CONSTRUCT WATER METE".
(FOR IRRIGATION OF LOTS 1A, 10, 2A, 23, 3A, 38, 4A & 4B)
STA. 10+45, 14.50' LEFT
INSTALL e' TAPPING SLEEVE WITH CORPORATION STOP & 21.5
OF 1" SERVICE UNE WITH METER BOX
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LIGHT (4 TYP. AT INTERSECTION)
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EAST 78.
ONSTRUCT 8" X 6" TEE
;TA. 12+22.00. 7.00 R:CHT
CONSTRUCT 6' VALVE WITH CONCRETE COLLAR
STA. 12+22.00. 12.25 RIGHT
CONSTRUCT FIRE HYDRANT
A. 12+22.00. 18.50 RIGHT
CUT & PLUG AND REMOVE
EXISTING WATER METER
irT LI.Tro urrrn
STA. 12+07.17. 22.50' RIGHT
INSTALL 8" TAPPING SLEEVE *TM CORPORATION STOP
15.5 LF. OF 1" SERVICE LINE WITH METER BOX
CUT & PLUG AND REMOVE EXISTING FIRE HYDRANT.
, REMOVE VALVE CLOSEST TO FIRE HYDRANT. REMOVE
"TEE" AND A00 SLEEVE.
BLOCK 4
LOT 2A
UT & PLUG AND REMOVE
EXISTING WATER METER
NSTRUCT WATER METER
TA. 11 +60.00. 14.50' RIGHT
,ISTALL 6' TAPPING SLEEVE WITH CORPORATION STOP 1
.5 L.F. OF 1" SERVICE LINE WITH METER BOX
L U
"•--CUT & PLUG AND REMOVE
EXISTING WATER METER
CUT de PLUG ANO REMOVE
EXISTING WATER METER
CONSTRUCT WATER METER
STA. 11 + 11.93. 22.50' RIGHT
INSTALL 8" TAPPING SLEEVE WITH CORPORATION STOP d
15.5 LF. OF 1" SERVICE LINE WITH METER BOX
NOTE: THIS METER MOVED SUGHTLY AWAY FROM
COMMON LINE OF LOTS 4C AND 40 TO ALLOW STREET
UGHT TO MAINTAIN A 60 FEET SPACING)
WEST 98.50'
LOT 4A
LOT 48
LOT 4C
LOT 40
CONSTRUCT WATER METER
(FOR IRRIGATION OF LOTS 2A, 28, 4A, 4E1. 4C AND 4D)
STA. 10+88.75, 14.50' RIGHT
INSTALL 8' TAPPING SLEEVE WITH CORPORATION STOP 6
OF 1" SERVICE LINE WITH METER 80X
too co'
REMAINDER OF
LOT 1 - A - R
BLOCK 1
TRINITY OAKS
HOSPITAL ADDITION
VOL. 388- 1 58. P. 9
NOTE: DURING CONSTRUCTION, ISOLAT
WATER MAIN BY USING THE VALVE LOCA1
AT THE INTERSECTION OF ROSEDALE An
SOUTH ADAMS STREET AND THE VALVE
LOCATED AT THE INTERSECTION OF MAGNI
AND SOUTH ADAMS STREET.
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South Adams Street Parallel Parkina
• Existing on -street parking does not allow enough space for two
travel lanes.
60' ROW allows space for parking, street trees, and sidewalks
if curb is moved and parking spaces are recessed.
Texana and Oleander Place designs have allowed space for
recessed parking.
Existing planting strip would be
narrowed by a few feet to
accommodate the parking spaces.
•'s
t