HomeMy WebLinkAboutContract 51838-A1 CSC No. 51838-A1
AMENDMENT NO. 1 TO
CITY SECRETARY CONTRACT NO. 51838
ECONOMIC DEVELOPMENT PROGRAM AGREEMENT
WITH NT WINDOW,INC.
This AMENDMENT NO. 1 TO CITY SECRETARY CONTRACT NO. 51838
("First Amendment") is made and entered into by and between the CITY OF FORT
WORTH ("City"), a home-rule municipality organized under the laws of the State of
Texas, and NT WINDOW,INC.,a Texas corporation ("Company").
RECITALS
The City and Company hereby agree that the following statements are true and
correct and constitute the basis upon which the parties have entered into this First
Amendment:
A. The City and Company previously entered into that certain Economic
Development Program Agreement,a public document on file in the City Secretary's Office
as City Secretary Contract("CSC")No. 51838 ("Agreement").
B. The Agreement requires, among other things, Company to place at least
$3,800,000.00 in New Taxable Tangible Personal Property on the Development Site by
January 1, 2020.
C. Delays in construction and availability of materials hindered the Company's
purchase and installation of certain New Taxable Tangible Personal Property by the
January 1, 2020 deadline.
D. Company desires to revise the deadline associated with the Personal
Property Commitment into three phases as set forth below.
E. In exchange for the revised Personal Property Commitment deadline,
Company has agreed to increase its Personal Property Commitment from$3,800,000.00 to
$4,100,000.00.
NOW, THEREFORE, in consideration of the mutual benefits and promises
contained in the Agreement and this Amendment and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the City and
Company agree as follows:
AGREEMENT
Page 1
Amendment No. 1 to CSC No.51838
Economic Development Program Agreement between OFFICIAL RECORD
City of Fort Worth and NT Window,Inc.
CITY SECRETARY
FT.WORTH, TX
I. Section 4.3 (Personal Property Improvements) is hereby amended in its
entirety to read as follows:
"4.3 Personal Property Improvements.
4.3.1 Company covenants and agrees that New Taxable Tangible
Personal Property having a value of at least Four Million, One Hundred
Thousand Dollars and Zero Cents ($4,100,000.00) must be in place on the
Development Site as set forth below (collectively, "Personal Property
Commitment"):
4.3.1.1 $2,400,000.00 by January 1, 2020
4.3.1.2 An additional $500,000.00 by January 1, 2021
(for a total of$2,900,000.00)
4.3.1.3 An additional $1,200,000.00 by January 1, 2022
(for a total of$4,100,000.00)
4.3.2 To meet the Personal Property Commitment,the full amount
of the Personal Property Commitment must be in place on the
Development by January 1, 2022.
4.3.3 The amount of any New Taxable Tangible Personal Property
will be determined solely by the appraisal district having jurisdiction
over the Development site at that time."
2. All capitalized terms used but not defined in this First Amendment have the
meanings ascribed to them in the Agreement.
3. This First Amendment contains the entire agreement between the parties
with respect to the matters set forth herein.
4. All provisions of the Agreement that are not specifically amended by this
First Amendment shall remain in full force and effect.
[SIGNATURES ON THE FOLLOWING PAGE]
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Amendment No. 1 to CSC No.51838
Economic Development Program Agreement between
City of Fort Worth and NT Window,Inc.
EXECUTED to be effective as of the later date below:
CITY OF FORT WORTH:
CONTRACT COMPLIANCE
MANAGER:
Jesus J. Chapa Date:2 a'8m'��SOS'Chaps
6TO' By signing I acknowledge that I am the
Dade:a721.01.191 Jesus J-0e'UP
By: person responsible for the monitoring and
Name: Jesus Chapa administration of this contract, including
Title: Deputy City Manager ensuring all performance and reporting
Date: Jan 19,2021 �20 Jan 19,2021 requirements.
APPROVAL RECOMMENDED:
By: 7e�c� D6"4w�
�+}
Digitally signed by RobertStums Name: Martha Obermiller
Robert SturnS Date:2021.01.1913:51:03
By; -05.09 Title: Economic Development Specialist
Name: Robert Sturns
Title: Director,Economic Development APPROVED AS TO FORM AND
LEGALITY:
ATTEST:
q,044U�n��
�Ot o00000% a Di dal signed Tyler Wallach
XY so 00 Tyler Wallach Date:2021..01.181 02:54-WOO
�-I a 9A,00
� -+, By:
By; U �vo s=d Name: Tyler F. Wallach
0
Name: Mary J. Kayser 0� *� Title: Assistant City Attorney
Title: City Secretary �Btt nExASaap
CONTRACT AUTHORIZATION:
M&C: C-25685 (Jan. 30, 2018); 20-0871
(December 1,2020)
NT WINDOW, INC
a Texas Corporation
By:
Ryon Ray
President and CEO
Date: 7—Z , 20
20
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Amendment No. 1 to CSC No.51838
Economic Development Program Agreement between OFFICIAL RECORD
City of Fort Worth and NT Window,Inc. CITY SECRETARY
FT.WORTH, TX
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Amendment No. 1 to CSC No.51838
Economic Development Program Agreement between
City of Fort Worth and NT Window,Inc.