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HomeMy WebLinkAbout(0114) M&C 22-0050City of Fort Worth, Texas Mayor and Council Communication DATE: 01/11/22 M&C FILE NUMBER: M&C 22-0050 LOG NAME: 80FWZA ELEPHANT SPRINGS EXHIBIT SUBJECT (ALL) Authorize Acceptance and Recording of a Gift Deed from the Fort Worth Zoological Association for the Elephant Springs Exhibit at the Fort Worth Zoo RECOMMENDATION: It is recommended that the City Council authorize acceptance and recording of a Gift Deed from the Fort Worth Zoological Association for the Elephant Springs Exhibit at the Fort Worth Zoo. DISCUSSION: The purpose of this Mayor and Council Communication (M&C) is to accept the conveyance of the Elephant Springs Exhibit as a gift to the City. On May 4, 2010, (M&C C-24194) the City Council authorized a Management Agreement (City Secretary Contract No. 40564 "The Agreement") with the Fort Worth Zoological Association (Association) for the management, operation, and development of the Fort Worth Zoo. Section 3.06 of the Agreement provides that the Association shall take all steps necessary to vest title to new zoo improvements in the City, including, without limitation, the delivery of an instrument of donation to the City. In addition, Section 3.07 stipulates that the Association is to provide a maintenance endowment equal to five percent (5%) of the required construction costs for any major animal exhibit constructed at the Zoo. The Association has tendered a gift deed for the constructed improvements located at the Fort Worth Zoo known as the Elephant Springs Exhibit, which includes major animal exhibits, as well as an elephant barn, exhibit pool, elephant and rhino habitat, life support system, and restroom buildings. This gift deed is accepted subject to all legal requirements of the Agreement. The Elephant Springs Exhibit was constructed at a value of $8,961,172.00 for the major animal exhibit and $10,655,983.00 for the associated structures for a total of $19,617,155.00. The Association has deposited $448,059.00 for the major animal exhibit improvements of the Elephant Springs Exhibit in the Maintenance Endowment Account as required by Section 3.07 of the Agreement. The Fort Worth Zoo is located in COUNCIL DISTRICT 9 and is classified as a Special -Use Facility that serves a City-wide and regional basis. A Form 1295 is not required because: This M&C does not request approval of a contract with a business entity. FISCAL INFORMATION / CERTIFICATION: The Director of Finance certifies that approval of these recommendations will have no material effect on City funds. Any assets recorded on the City's financial statements associated with the Elephant Springs Exhibit, elephant barn, LSS, and restroom building will be adjusted upon approval. Submitted for City Manager's Office by. Valerie Washington 6192 Originating Business Unit Head: Richard Zavala 5704 Additional Information Contact: Richard Zavala 5704