Loading...
HomeMy WebLinkAboutContract 57063 CSC No.57063 DEVELOPER FUNDING AGREEMENT FOR COST OF BURYING UTILITIES ON TRINITY BOULEVARD THIS AGREEMENT is by and between Trinity Lakes Partners, LLC hereinafter referred to as "Developer", and the City of Fort Worth,hereinafter referred to as"City". WHEREAS,Developer,is the owner of land adjacent to Trinity Boulevard within the City of Fort Worth,Tarrant County Texas,more fully depicted on Exhibit"A" attached hereto (the "Property");and WHEREAS,in order to better serve the Property,Developer is requesting that the utilities along Trinity Boulevard fronting the Property be buried, as depicted on Exhibit "B" attached hereto; and WHEREAS,Trinity Boulevard is being reconstructed by the City under Project No. 102101 (the "Prof ect"); and WHEREAS, to accommodate Developer's request and for expediency of the Project, the City has agreed to engage Oncor Electric Delivery Company, LLC ("Oncor"),the only franchise utility with aerial facilities, to bury the electric lines and remove the support poles in advance of the Project at an estimated cost of$520,000 (M&C 21-0671 (9-14-21), CS 56446); and WHEREAS, Developer will pay to City a contribution in the amount of $260,000 (the "Contribution"), for its share of the costs to bury the electric lines; and WHEREAS, after final accounting by Oncor of the cost to bury the lines, if any additional amount is owed for the construction, Developer shall remit same to the City or if any credit or refund is owed to Developer, City shall remit same to Developer. NOW THEREFORE, in consideration of the above recitals and the promises and covenants herein, City and Developer do hereby agree as follows: 1. Developer will provide to City the Contribution amount of$260,000 for its share of the costs to bury the electric lines concurrent with Developer's execution and return of this Agreement. 2. Developer's Contribution to the City is an estimate of Developer's obligation for its costs related to the improvements described herein.If any cost overages are due Oncor for the construction,Developer shall remit same to City within 30 days of receipt of a request for same; likewise, if any credit or refund is due City at the completion and final accounting of the Oncor improvements,the proportionate share shall be refunded by City to Developer. 3. City will use its best reasonable efforts to perform this Agreement without undue delay. 4. OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX 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. If Developer or any subsequent owner transfers the Property or any portion thereof prior to the performance of all obligations of the Developer or City hereunder, Developer or such transferring owner shall obtain an agreement from the transferee assuming the obligations of the transferring owner under this Agreement performable from and after the date of transfer. From and after the date of such transfer, the transferee shall be solely obligated under this Agreement, and the transferring owner shall have no further obligations under this Agreement,with respect to the Property or portion thereof transferred. 5. Notices required pursuant to the provisions of this Agreement shall be conclusively determined to have been delivered when(1)hand-delivered to the other Parry, its agents, employees, servants or representatives,(2)delivered by electronic means with confirmation of the transmission,or(3)received by the other Parry by United States Mail, registered, return, receipt requested, addressed as follows: City of Fort Worth Trinity Lakes Partners, LLC Attn: Dana Burghdoff, Assistant City Manager Attn: Ken Newell 200 Texas Street 3001 Knox Street, Suite 405 Fort Worth, TX 76102-6311 Dallas, TX 75205 Email: dana.bur h_h_ d�offkfortworthtexas.g_ov Email: With Copy to the City Attorney. Executed by each party's duly designated and authorized representative;effective as ofthe date subscribed by the City's designated Assistant City Manager. CITY OF FORT WORTH, TEXAS: TRINITY LA PARTNERS,LLC: Dana Bu(cihd%ff By Dana Burghdoff(reb 1,2022 09:19 CST) B Dana Burghdoff en Newell Assistant City Manager Executive Vice President Date: Feb 1,2022 Date: APPROVAL RECOMMENDED: By:WJ(Jan 28.20 15:08 CST) William M. Johnson, Director Transportation and Public Works OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX APPROVED AS TO FORM AND LEGALITY: By:Mack(Feb 1,2022 07:27 CST) .7 Douglas W. Black Senior Assistant City Attorney CONTRACT AUTHORIZATION M&C: 21-0878 Date Approved: 11/9/2021 as FORTa ATTEST: �p�°°° °°�LOd� .7�`I`IG��G c1 GDOG��GG p0 BV:Jannette S.Goodall(Feb 1,202213:03 CST) -0 °O�^� .77 Jannette Goodall /VV\o o=d ° d City Secretary ���0 °o i�,d a °O00°0o° a ��nEXASoAp 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. By:Mitch Aiton(Jan 27,2022 10:54 CST) By Mitch Aiton, P.E. Senior Professional Engineer OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX .-------- —s l = ; e s v � OC1 �►�`+a,g DI _ v _ € I N Aol �• ! ri 1 � � �a-2 ii F /r' ' L Iz a- !, pF�. t f � t , F J + 4L c } � � d 0 � s � � 5 O C oar CL r`3� co CO = t- n _ �} cn CM . C r N Q Ul dCD o CD -_ IL � E Q d Q W o. V C¢ter jn n o o 1 J u 5 W O ! ¢ oa$A G o M C NCD a m e4 Z't. e� � n�n J V e.r`og x� a T.Q- cn 7 N 8O2% •� J O =psc LL 4 g o M N •L ei H j �a� �] •ass • 5 '� � � � o v` � ''-_� u -p -2 p \ •d w4 p a d o did" u 44, a _ m a� �aa 4t '` II ji CD I m =ZZ N rl \ 'Cc oo,2n ^� 0 V paW av NqD 2 ;y o CD W •� c rn YS Ln S oS g E O Q� Kr Q tW O� O ti W V O c � �••� tw in Z u O a n o a_ M W e+n o S \ v v £ m � Ln in '� a, a � o 0 a E § _ \ - o a coy! $ E ) : r 0) \ 0 IL % \ \®� 2 a g -_ j co \\ c I < L = - ; n /\\ > o ,6_} .g I = % § - « § )�)\ U2- a c « z ! ! }\ § _ - \/ �2 0 0 § } \ « a U % $ « a ■ � 2 q70 - z \ § � \\ m 2( \m }\//\ \ 0 � ` \\ \ f f \ (\\) 2 -\\2 - > , & 7 U. - « _ a 04 U o § _ }�\} O04 -a. » »\2 o Ln 0 \ -r u . ±�G u © le2t _ aa» � )E § � V § �®�}� + a .j} LU _ W 0 \\ LLI � ° % / \\ a. L • z W M M 0 § % Q E \ % - § 0 nu a E S 0 co o 0 \ 2 o r E ) $ r 0) \\\ co G / a \E § 0) o - o § coe j\ = E cu to I = )L )/\ \ \\o G ;a2 5\ \)! !�§ E , — \\{( } t`2 / 2 { a j U� / \ 0 § \\ a 7 _ u = - — - - \ L 7 C-4 _) : - < 2IS \ z � \# 8 z - g « 7 ƒ }:\! a�� w \ y& Z / / ƒ\\ 2 a / $&±[ \ u (\\! � ^ � } Z fs- B § » 00 _ -- \ � _ co 7-@ 2 0 @ /_ 2 ■ 2 \°�\ m ( � . m - § a\: W � '� z / \\) O .cc",) -[;> a $ }) § Ln Cl LU }i LLI R* o w 2 \\ W M ID cu` \ / { ƒ j 0 inLn aj / a co co _ (� 79023 ` `r E _36637 �O N O c O "' N Qz zzz3 W co a0a000 Ell C O N a. co O C �"� m �_ LO m N o �+ X Q� Imo ' 0) c a L a p 00 co 0 E >> L O c CO o«m �N 0� a �-�- 0 N N Om Q co LL .3 w w a U w M » (n N ��3= CLnot= 7 v - p -�oa O � 7 warn —_ J oLf�o� +� M O c9� ' %oQm iA y U Y N N �! !7 O V p'^m v m ry rZO LU uo 3£ b000Li �A a- m� Oro w UCD� ^W^ a CL =a a b a 000m X F H 70 a m z Z E I O �S Q Q u0 vov� moo � 3v Q LO vor o ay a o3yo� W vavv o V a `° N LL = N I I n m o>t o X O con,?n LL W 0- ate+ aJ U a o�- M � O Y p W iz O v . tqU� u lD `c j ccM V � � Ea�o w Ln a m o o 8— V JR* ° m son W M Il% c u \ +-; N aj aj a) Ito aj c 2 E s on u z aj N CC 0 in 0 � mrn co E ^m m o o 00m o /�/� L M O W o �N CD c CL m co O �80 cDZ61709£ {G rn a LL� m co 866f�6 m m y Co c a ,yy���`O L LO ° 0) _«vi d ctctctctco C� L — co L co v o— i mry o a C.)C� vo« A 6 30 o E co �n lo Q W CO «4 ao N m ov3N �� c�a Z£6b09£ a o £06858£ -ooa > o�,) v Louu� M O W p o a V W e au m m T K x K c o v a N L 00, o OO co a 000� ry ry _ ai m n •� W m�m a oo m �03£ OMm x J £2a4. o a m Q° 0 0 2 N a p V 30 a - c Z za a _ oo N oo °o `~ �m N a _- n n w as m m N o> 00o mom ~ J I Z co Q w F H —2EL. Y Z Z v3v« 0 C M (` oo c t �o N �� r ion .. .. .. .. Yvao aj o- � �0 '�( Q Jy�ba N C?v � N m m c-o 000� z � E � +°- $o a5 z LL oo Q sst KK Y N 0 00 J m^,� mm Z Q O wo Fco Q v`� ty N LL N v m£y� coO' M a woR pw °° m ¢�zz � 3v N d d s N B 1 m oo O vLr M a a oo 7 36f 58�08 -1 ' a mooV _ v v�98608 `m° o °ma M -° m t C e"couw m m U G .. .. .. - oo m oo > Y;. ao�� Qawa.0 W Ln M XU�O : Q P°'� KKKK CD z 4`Z °ova � oYt Y coV 3 w3ov�° co W �� fl� li Q �o�o£ �� oo� V V N a V / V o v�''s J � ° m F uoa o. W M t,0 c u \ • m m aj cn + C Ln a1 U N o in o co d 1/27/22, 10:15 AM M&C Review Official site of the Cr',,of Fort Worth,Texas CITY COUNCIL AGENDA FoRTW ORT11 Create New From This M&C DATE: 11/9/2021 REFERENCE **M&C 21- LOG NAME: 20TRINITY BLVD PHASE 1 NO.: 0878 CONSTRUCTION CODE: C TYPE: CONSENT PUBLIC NO HEARING: SUBJECT. (CD 5)?Reject Bid of Texas Sterling Construction, Co.;Authorize Execution of a Construction Contract?with S.J. Louis Construction of Texas, Ltd.?in the Amount of $22,010,616.02 for?Street Reconstruction of Trinity Boulevard Phase 1 from Interstate Highway 820 to Salado Trail;Authorize Execution of a Developer Funding Agreement in the Amount of$260,000.00;Adopt Attached Resolution Expressing Official Intent to Reimburse Expenditures with Proceeds of Future Debt and Adopt Attached Appropriation Ordinances RECOMMENDATION: It is recommended that the City Council: 1. ?Reject the bid submitted by Texas Sterling Construction, Co.; 2. Authorize execution of a contract?with S.J. Louis Construction of Texas, Ltd.?in the amount of $22,010,616.02 for?Street Reconstruction of Trinity Boulevard Phase 1 from Interstate Highway 820 to Salado Trail; 3. Authorize execution of a Developer Funding Agreement in the amount of $260,000.00 with Trinity Lakes Partners, LLC for relocation of overhead utilities and the installation of underground utilities along Trinity Boulevard from Interstate Highway 820 to Riverlakes Drive; 4. Adopt the attached resolution expressing official intent to reimburse expenditures with proceeds from future debt for the Trinity Boulevard Phase I, from Interstate Highway 820 to Salado Trail project; 5. Adopt attached appropriation ordinance adjusting appropriations in the Water and Sewer Commercial Paper Fund by increasing appropriations in the Trinity Boulevard Phase I, from Interstate Highway 820 to Salado Trail project (City Project No. 102101) in the amount of $5,725,458.00, and decreasing appropriations in the Unspecified project (City Project No. UNSPEC) by the same amount; and 6. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Developer Contribution Fund, in the amount of $260,000.00, from available funds, for the purpose of funding the Trinity Boulevard Phase I, from Interstate Highway 820 to Salado Trail (City Project No. 102101). DISCUSSION: The purpose of this Mayor and Council Communication (M&C) is to, by authority of the City Charter, reject the bid of Texas Sterling Construction Co. and authorize execution of a contract?with S.J. Louis Construction of Texas, Ltd.?in the amount of$22,010,616.02 for?Street Reconstruction of Trinity Boulevard from Interstate Highway(IH) 820 to Salado Trail. Trinity Boulevard is a major corridor with proposed mixed use and commercial development which will provide access to the proposed Trinity Metro rail station. The project includes the reconstruction of the existing asphalt 4-lane road to concrete with curb and gutter, underground drainage, landscaped medians, street lights and shared use paths. This M&C will also authorize a developer funding agreement in the amount of$260,000.00 with Trinity Lakes Partners, LLC for the relocation of overhead utilities and the installation of underground utilities along Trinity Boulevard from IH 820 to Riverlakes Drive.?(M&C 21-0671) ?(City Project No. 102101) apps.cfwnet.org/council_packet/mc_review.asp?I D=29426&councildate=11/9/2021 1/3 1/27/22, 10:15 AM M&C Review On January 31, 2013, the Board of Tax Increment Reinvestment Zone Number Fourteen (Trinity Lakes TIF) adopted a project and financing plan for the Trinity Lakes TIF, which was approved by the City Council by Ordinance No. 20606-02-2013 and in accordance with Section 311.011 of the Texas Tax Code. Included in the project and financing plan were certain proposed infrastructure improvements to Trinity Boulevard intended to mitigate flooding, enhance walkability, and support the development of surrounding properties. (M&C 20-0939) The following table demonstrates the funding history for the project r Fund Existing Additional F Project Total Appropriations Appropriations General Capital Projects - Fund $290,000.00 $0.00 $290,000.00 30100 I TIRZ— General Capital — Fund 30286 'F—$1,000,000.00 $0.00 $1,000,000.00 F—Trinity Lakes CO 2021 — Fund 34025 $18,500,000.00 $0.00 $18,500,000.00 W&S Rev Bonds Series 2021 — $381,755.00 $0.00 $381,755.00 Fund 56019 Water& Sewer Commercial Paper- Fund 56020 $0.00 $5,725,458.00 $5,725,458.00 Developer Contribution - Fund $0.00 $260,000.00 $260,000.00 30104 Project Total 1 $20,171,755.00 1 $5,985,458.00 1 $26,157,213.00 The project was advertised for bid on September 15, 2021 and September 23, 2021 in the Fort Worth Star-Telegram. On September 30, 2021, the following bids were received: Bidders F Amount Texas Sterling Construction, Co. Ft-2O,-311,012.65 F—si Louis Construction of Texas, Ltd. —I r$22,010,616.02 Mario Sinacola & Sons Excavating, Inc. $23,165,055.55 Ragle, Inc. F$23,680,615.77 Brasfield & Gorrie, LLC 1 $23,949,467.32 The Transportation & Public Works Department's share on this contract is $16,947,512.80. The Water Department's share on this contract is $5,063,103.22. The funds will be available in the Water& Sewer Commercial Paper Fund for the project (City Project No. 102101). In addition to the contract amount, $2,281,098.00 (Water: $510,461.00, Paving: $1,770,637.00) is required for project management, material testing and inspection and $661,128.00 (Water: $151,893.00; Paving: $509,235.00) is provided for project contingencies. This project will have no impact on the Transportation & Public Works' or on the Water Department's operating budgets when completed. This project is anticipated to be included in a future revenue bond issue for the Water and Sewer Fund. Available cash within the Water and Sewer portfolio and the City's portfolio along with the appropriation authority authorized under the Callable Commercial Paper Program (CP)will be used to provide interim financing for this project until debt is issued. Once debt associated with the project is sold, bond proceeds will be used to reimburse the Water and Sewer portfolio and the City's portfolio in accordance with the attached reimbursement resolution. Under federal law, debt must be issued within approximately three years in order for these expenses to be reimbursable. Adoption of the attached resolution does not obligate the City to sell bonds, but preserves the ability of the City to reimburse itself from tax-exempt bond proceeds. apps.cfwnet.org/council_packet/mc_review.asp?I D=29426&councildate=11/9/2021 2/3 1/27/22, 10:15 AM M&C Review Construction of Trinity Boulevard is anticipated to begin in Spring 2022. Funding for this project is being provided from Tax Increment Reinvestment Zone Number 14, Trinity Lakes TIF Program. S.J. Louis Construction of Texas, Ltd has agreed to comply with the City's Business Equity Ordinance. The City's goal on this project is 22\%. The Project is located in COUNCIL DISTRICT 5. FISCAL INFORMATION/CERTIFICATION: The Director of Finance certifies that funds are currently available in the Unspecified-All Funds project within the W&S Commercial Paper Fund and upon approval of the above recommendations and adoption of the attached appropriation ordinances, funds will be available in the W&S Commercial Paper Fund and the Developer Contribution Fund for the Trinity Blvd. - 820-Salado Ph1 project to support the approval of the above recommendation and execution of the contract. Prior to an expenditure being incurred, Transportation & Public Works and Water Departments have the responsibility of verifying the availability of funds. TO Fund Department Account Project Program Activity Budget Reference# Amount ID ID Year Chartfield 2 FROM Fund Department Account Project Program Activity Budget Reference# Amount ID ID Year (Chartfield 2) , Submitted for City Manager's Office by_ Dana Burghdoff(8018) Originating Department Head: William Johnson (7801) Additional Information Contact: William Johnson (7801) ATTACHMENTS 102101C Trinity Boulevard Phase 1 Compliance Memo 11032021.pdf (CFW Internal) 20TRINITY BLVD PHASE 1 CONSTRUCTION funds availability.docx (CFW Internal) 20TRINITY BLVD PHASE 1 CONSTRUCTION 56020 A022 r(5).docx (Public) 20TRINITY BLVD PHASE 1 Reimb Resolution.docx (Public) 20TRINITY BLVD PHASE 1 CONSTRUCTION Updated FID table.xlsx (CFW Internal) 20TRINITY BLVD PHASE 1 CONSTRUCTION 30104 A022(r6)r.docx (Public) Form 1295 Certificate 100838952 Signed.pgf (CFW Internal) TRINITY LAKES TIF IMPROVEMENTS MAP.PDF.pdf (Public) apps.cfwnet.org/council_packet/mc_review.asp?I D=29426&councildate=11/9/2021 3/3