HomeMy WebLinkAboutIR 9128 INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 9128
To the Mayor and Members of the City Council October 1 , 2009
Page 1 of 3
ex SUBJECT: Request from the Tarrant County Black Historical and Genealogical
, Society, Inc for City Funding in the Amount of$125,000.00 for the Completion
of the Lenora Rolla Heritage Museum.
The purpose of this Informal Report is to provide City Council with information regarding the
funding request of $125,000 from the Tarrant County Black Historical and Genealogical Society,
Inc (TCBHGS) for the completion of the Lenora Rolla Heritage Museum. The request would be
funded from the City's Hyatt Regency Parking Garage project.
The Lenora Rolla Heritage Museum will provide a place to learn about Fort Worth's black history
and culture. The museum will house various collections and provide lectures and workshops to
the citizens of Fort Worth. The museum is located in southeast Fort Worth a few blocks east of
the Evans and Rosedale Urban Village area. The address is 1020 East Humbolt Street. (See
Attached Project Map)
On, December 12, 2006, the City Council approved $245,000 for renovation of the historic Boone
House (M&C C-21872). Additionally, TCBHGS raised approximately $100,000 from other sources
and used the majority of these funds to supplement the City funding associated with the original
remodeling project. The amount in total was not sufficient to complete the project. Therefore,
TCBHGS is requesting additional funds to complete the project.
The amounts requested and associated construction items are as follows:
• Roofing $ 25,675
• Parking Lot $ 33,621
• HVAC Unit & Installation $ 16,456
• Plumbing $ 5,100
• Interior finish out $ 27,500
• Contingency 16,648
Sub-total $125,000
Staff recommends providing the TCBHGS a forgivable loan of $125,000 to protect the City's
original investment and to complete this important projects The funding source would be the
Radisson Parking Garage Development Funds, which is comprised of the City's portion of
revenues received from parking fees associated with the now Hilton parking garage. The Hyatt
Regency Parking Garage project has a balance of $669.694. These funds must be utilized
specifically for activities that meet the requirements of the urban redevelopment grant originally
used to build the now Hilton parking garage.
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INFORMAL REPORT TO CITY COUNCIL MEMBERS No. 9128
To the Mayer and Members of the City Council October 13, 2009
Page 2 of 3
SUBJECT: Request from the Tarrant County Black Historical and Genealogical
Society, Inc for City Funding in the Amount of$125,000.00 for the Completion
of the Lenora Rolla Heritage Museum.
The terms for the loan include making it forgivable after 5 years, if:
1. a certificate of occupancy is obtained within 2 years of the loan documents being signed;
2. the museum must be in operation continuously from the date of the issuance of the
certificate of occupancy until at least 5-years after the signing of the loan documents;
3. the City would put a lien on the property and building for the duration of the loan for the
$374,044, the full amount invested by the City.
Staff recommends approval of the M&C scheduled on the October 20, 2049, City Council agenda
for council consideration. If you should have any questions regarding this information please
contact Jay Chapa, Director, Housing and Economic Development Department at 817-392-5804.
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Dale A. Fisseler, P.E.
City Manager
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