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HomeMy WebLinkAbout(0039) CFAFuture Improvement North Quarter 35 (part1)Date Received: Mar 17, 2020 City Secretary Time Received: 3:38 PM 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 (CFA 19-0157) ("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"), Citywill 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. Page 1 of 6 Developer Funding Agreement — North Quarter 35 CFA CITY OF FORT WORTH Jesus T. ChdpA Jesus J. Chapa (Mar 17, 2020) Jesus J. Chapa Assistant City Manager City Manager's Office Date: M a r 17, 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. -ague-scarcet-Mara4k Janie Scarlett Morales (Mar 11, 2020) Janie Scarlett Morales Development Manager Development Services Department Date: Mar 11, 2020 APPROVED AS TO FORM & LEGALITY: faerf— DBlack (Mar 17, 2020) Douglas Black Sr. Assistant City Attorney City Attorney's Office M&C No. Form 1295: Date: M a r 17, 2020 DEVELOPER: FW I-35 Logistics Center LLC By: M2G I-35 Logistics Center GP, LLC Its Managing Member Susan Gruppi Manager Date: Mar 11, 2020 ATTEST: Ma�ser(Mar� 20)G Mary Kayser/Ronald Gonzales City Secretary/Asst, City Secretary City Secretary's Office Date: Mar 17, 2020 Page 3 of 6 Developer Funding Agreement —North Quarter 35 CFA EXHIBIT A: Location Map Page 5 of 6 Developer Funding Agreement —North Quarter 35CFA EXHIBIT B: Improvements Page 6 of 6 Developer Funding Agreement — North Quarter 35 CFA Date Received: Mar 17, 2020 Time Received: 3:38 PM City Secretary 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 (CFA 19-0157) ("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"), Citywill 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. 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. 0 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 Jesus J. CHcgpd Jesus J.Chapa(Mar 17,2020) Jesus J. Chapa Assistant City Manager City Manager's Office Date: M a r 17, 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. „ �iucie-Sca.��ttMa�ale� Janie Scarlett Morales (Mar11, 2020) Janie Scarlett Morales Development Manager Development Services Department Date: Mar 11, 2020 APPROVED AS TO FORM & LEGALITY: fam— DBlack(Mar 17,2020) Douglas Black Sr. Assistant City Attorney City Attorney's Office M&C No. Form 1295: Date: M a r 17, 2020 DEVELOPER: FW I-35 Logistics Center LLC By: M2G I-35 Logistics Center GP, LLC Its Managing Member �-4 �t' Susan Gruppi Manager Date: Mar 11, 2020 ATTEST: �gl, fal-, Mary J. kayser (Mar 17, 20) Mary Kayser/Ronald Gonzales City Secretary/Asst. City Secretary City Secretary's Office Date: Mar 17, 2020 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 © Exhibit A: Location Map DX Exhibit B: Improvements (Reminder of Page Intentionally Left Blank) Page 4 of 6 Developer Funding Agreement— North Quarter 35 CFA EXHIBIT A: Location Map Page 5 of 6 Developer Funding Agreement —North Quarter 35CFA co rn 0 o LL. Z O c coop R co c0 to N PANc rn L K M Y N M Cc r~ h x C 0 H 7ff-N � U 3: r r o w 0LLa� U) H Z W J 0 U CD z o cd LLI ~ �ti H H O F- to a.a w C, O a JU) (DN 8�L2 NOMVH O o. cn o � =) r` z U) (� � �= �p 1 - 00 C9 UaZ CO LO W LizCDCQ / G O C �z N OOn.W a V O Nco Z W C) J O C� V � >z 3W V8 (M `m W aa) 0 Q COp m x cH _ m ~ o O o a Z U Il wdbZ:C fiLOZ/AZ/OL :Sabowl fLlna(ol1 6mP'Allup!A 1!Q!Llx3—Vd0\Vd0\S1aa9Suold\Poo\Xd puoig 9ZW --ails mp'I—LLS9x :S1ajx — ro(M 490\00 NaA:>j :al!d EXHIBIT B: Improvements Page 6 of 6 Developer Funding Agreement — North Quarter 35 CFA VmI(((Iwr 5E L1318VnD Hi8O 1 1N3W3AOVdWI i i� 1 1 i I -.��u.���.�r,�.�—�-y--l�.�,._�� ..`� �<.��ey++-a�+•�e•�I�.�i—r1--.+•art �s�4-..,�i—�4 ��-.