HomeMy WebLinkAboutContract 54520 CITY SECRETARY✓ED CONTRACT NO. 5459q U
CITY OF FORT WORM TAX INCREMENT FINANCING
CITYSECRETARY FUNDING AGREEMENT
Sidewalk Repairs
This TAX INCREMENT FINANCING FUNDING AGREEMENT ("Agreement") is
entered into by and between the BOARD OF DIRECTORS OF TAX INCREMENT
REINVESTMENT ZONE NUMBER THIRTEEN, CITY OF FORT WORTH, TEXAS
("Board"), an administrative body appointed in accordance with Chapter 311 of the Texas Tax
Code ("TIF Act") to oversee the administration of Tax Increment Reinvestment Zone Number
Thirteen, City of Fort Worth, Texas, a reinvestment zone designated by ordinance of the City of
Fort Worth ("City") in accordance with the TIF Act, and the CITY OF FORT WORTH
("City"), a Texas home-rule municipality.
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 27, 2007,the City Council adopted Ordinance No. 17889-11-2007,
establishing Tax Increment Reinvestment Zone Number Thirteen, City of Fort Worth, Texas
(the "TIF District"), and establishing the tax increment fund of the TIF District (the "TIF
Fund").
B. On May 29, 2008, 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
June 27, 2008, pursuant to Ordinance No. 18146-06-2008, and amended on October 20, 2015,
pursuant to Ordinance No. 21949-10-2015.
C. The TIF Project Plan identifies public improvements that benefit the general public
and facilitate the development of the TIF District,especially gateway enhancements,as an eligible
expense;
D. City has proposed to the sidewalks at Woodhaven Boulevard and Bridge Street, as
well as at Bridge Street and Boca Raton Boulevard, which is more specifically set forth and
depicted in Exhibit A attached hereto ("Project").
E. The Project is located entirely within the TIF District or otherwise directly benefits
the TIF District. City has requested that the Board reimburse it for the costs of the Project.
F. The TIF Project Plan specifically authorizes the Board to enter into agreements
dedicating revenue from the TIF fund for public improvements within 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"). Accordingly,the Board is willing
to reimburse City for the Project Costs solely in accordance with and pursuant to this Agreement.
C9FK-3TAL REC30 RD
Agreement for Street Pole Painting r' " a����TIF Funding Agreement Orl, 21WRI.,r 711 r�. J
between TIF District Woodhaven TIF and City of Fort Worth - �l
Page I of
NOW,THEREFORE,the Board and Developer,for and in consideration of the terms and
conditions set forth herein, do hereby contract, covenant and agree as follows:
1. CITY'S OBLIGATIONS.
1.1 City will oversee and be responsible for all aspects of the Project in accordance
with this Agreement,the Plans, and all Legal Requirements.
1.2 City must complete the Project on or before April 30, 2021.
2. FUNDING BY THE BOARD
2.1 Amount of Funding.
Provided that the City pursues the Project, and the City has complied with all terms and
conditions of this Agreement, the Board will provide funding for the Project in an amount up to
Eight Hundred Sixty-Four Thousand, Five Hundred Thirty-One Dollars and No Cents
($864,531.00) ("Funds") in accordance with this Agreement;provided,however,that if there are
not sufficient revenues in the TIF Fund at such time,the financial obligations of the Board to City
under this Agreement will be carried forward without interest to the next fiscal year of the TIF
District in which there are sufficient revenues in the TIF Fund to satisfy such obligations. In no
event will the Board pay City any portion of the Funding in excess of Funds.
2.2 Payment.
The Board will provide the full amount of the Funds to the City prior to the start of the
project, as there are no budgeted funds within the City to complete this particular project. Upon
completion of each sidewalk project,the City will provide the Board with the following completion
documents, detailing the work completed and the amount spent: (1) green sheet and (2) project
expense report. To the extent there are any unused Funds,the City will reimburse the Board within
45 calendar days after the Board submits written a written request to the City for such Funds.
2.3 TIF Fund Contributions.
The Board acknowledges and consents to the transfer from the TIF Fund of up to the total
amount of the Funds, in whole or in part, to the funds or accounts of the City that will be used to
pay for the costs of the Project.
2.4 Limited to Available TIF Funds.
Notwithstanding anything to the contrary herein, City understands and agrees that the
Board will be required to pay the Funds only from available revenues in the TIF Fund that are
attributable solely to tax increment (as defined in Section 311.012 of the Texas Tax Code)
Agreement for Street Pole Painting
TIF Funding Agreement
between TIF District Woodhaven TIF and City of Fort Worth
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generated annually from property located in the TIF District and deposited into the TIF Fund in
accordance with the TIF Act.
2.5 Priority of Payment.
Notwithstanding anything to the contrary herein, City understands and agrees that any
obligation of the Board to pay all or any portion of the Reimbursement Amount is subject and
subordinate to the Board's right to retain reserves in the TIF Fund in any fiscal year to meet all
existing contractual obligations of the Board. Specifically and without limiting the generality of
the foregoing, the following payments, as obligated by the following existing contractual
obligations, shall have priority over payment by the Board of all or any portion of the Funds:
I. Payment made pursuant to that certain Tax Increment Financing
Development Agreement between the Board and Texas Blossoms, Inc.
approved by the Board on October 16, 2019 (Tree Planting Improvements)
and
II. Payment made pursuant to that certain Tax Increment Financing
Development Agreement between the Board and the City of Fort Worth for
street light pole paining on October 16, 2019.
3. TERM.
The term of this Agreement is effective as of October 16, 2019 ("Effective Date") and
expires upon the earlier of(i)the complete performance of all obligations and conditions precedent
by the Board and City; or (ii) termination by either the Board or City as permitted by this
Agreement.
4. SUCCESSORS AND ASSIGNS.
City may not assign its rights or obligations under this Agreement to any other party
without the advance written approval of the Board, which may be withheld at the Board's
discretion. This Agreement is binding on and inures to the benefit of the parties, their respective
successors and assigns.
5. 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:
City of Fort Worth
Attn: Director, Economic Development Attn:Assistant City Manager
Agreement for Street Pole Painting
TIF Funding Agreement
between TIF District Woodhaven TIF and City of Fort Worth
Page 3 of 9 v20150617
1150 South Freeway 200 Texas Street
Fort Worth,Texas 76104 Fort Worth, TX 76102
6. VENUE AND CHOICE OF LAW.
This Agreement will be construed in accordance with the laws of the State of Texas and
applicable ordinances, rules, regulations or policies of the City. Venue for any action under this
Agreement lies in the State District Court of Tarrant County, Texas or the United States District
Court for the Northern District of Texas,Fort Worth Division. This Agreement is performable in
Tarrant County, Texas.
7. COMPLLANCE WITH LEGAL REQUIREMENTS.
This Agreement is 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 the same shall constitute a default under this Agreement. In
undertaking any work in accordance with this Agreement, 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").
8. 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.
9. 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.
10. 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.
11. NO WAIVER.
The failure of either party to insist upon the performance of any term or provision of this
Agreement or to exercise any right granted hereunder shall not constitute a waiver of that party's
right to insist upon appropriate performance or to assert any such right on any future occasion.
12. GOVERNMENTAL POWERS.
Agreement for Street Pole Painting
TIF Funding Agreement
between TIF District Woodhaven TIF and City of Fort Worth
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It is understood that by execution of this Agreement,neither the Board nor the City waives
or surrenders any of their governmental powers or immunities.
13. FORCE MAJEURE.
It is expressly understood and agreed by the parties to this Agreement that if the
performance of any obligations hereunder is delayed by reason of war, civil commotion, acts of
God, inclement weather, governmental restrictions, regulations, or interferences, unreasonable
delays by the City in issuing any permits or certificates of occupancy or conducting any inspections
of or with respect to the Project(based on the amount of time that the City customarily requires in
undertaking such activities and based on the then-current workload of the City department(s)
responsible for undertaking such activities), or delays caused by unforeseen construction or site
issues, fire or other casualty, court injunction, necessary condemnation proceedings, acts of the
other parry, its affiliates/related entities and/or their contractors,or any actions or inactions of third
parties or other circumstances which are reasonably beyond the control of the party obligated or
permitted under the terms of this Agreement to do or perform the same,regardless of whether any
such circumstance is similar to any of those enumerated or not,the party so obligated or permitted
shall be excused from doing or performing the same during such period of delay, so that the time
period applicable to such design or construction requirement shall be extended for a period of time
equal to the period such party was delayed.
14. BOARD REPRESENTATIVE.
City understands and agrees that the Board, in its sole discretion,may also appoint certain
City staff members, a City department or another entity to serve as its representative in carrying
out any or all of the responsibilities of the Board hereunder, and that references to "the Board" in
this Agreement mean the Board in its entirety or any such designated representative.
15. NO THIRD PARTY RIGHTS.
This Agreement is solely for the benefit of the parties hereto and is not intended to create
or grant any rights, contractual or otherwise, to any other person or entity.
16. 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 the
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.
Agreement for Street Pole Painting
TIF Funding Agreement
between TIF District Woodhaven TIF and City of Fort Worth
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IN WITNESS WHEREOF,the undersigned have caused this Agreement to be executed effective
as of the Effective Date:
BOARD OF DIRECTORS OF TAX CITY OF FORT WORTH
INCREMENT REINVESTMENT
ZONE NUMBER TIF THIRTEEN,
CITY OF FORT WORTH, TEXAS:
By: y F1 By:
Cary Moon Jay Chapa
Chairman Deputy City Manager
APPROVED AS TO FORM ATTEST:
AND LEGALITY:
By:_Is/Tyler Wallach By: v
Tyler Wallach M K ser
Assistant City Attorney C Secretary
t f 6.
Resolution No. 13-2019-6 (October 19, 2019) Q< ':
M&C 20-0593 (August 25,2020) '
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 reporting requirements.
Name: T/2iC� ��ezh�li
Title: Revitalization Coordinator
F�-
Agreement for Street Pole Painting
TIT Funding Agreement
between TIF District Woodhaven TIF and City of Fort Worth
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Exhibit A
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Agreement for Street Pole Painting
TIF Funding Agreement
between TIF District Woodhaven TIF and City of Fort Worth
Page 7 of 9 v20150617
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Agreement for Street Pole Painting
TIF Funding Agreement
between TIF District Woodhaven TIF and City of Fort Worth
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