HomeMy WebLinkAbout2024/09/24-Minutes-Research and Innovation Local Government Corporation (RILGC)CITY OF FORT WORTH, TEXAS
FORT WORTH RESEARCH AND INNOVATION LOCAL GOVERNMENT
CORPORATION REGULAR SESSION MINUTES
TUESDAY, SEPTEMBER 24, 2024
Present:
President Elizabeth Beck
Director Mattie Parker
Director Carlos Flores
Director Charlie Lauersdorf
Director Jared Williams
Director Macy Hill
Director Chris Nettles
Director Alan Blaylock
Director Jeanette Martinez
Absent:
Vice President Michael D. Crain
Director Gyna M. Bivens
Cily Staff.
William Johnson, Assistant City Manager
Robert Sturns, Economic Development Director
Taylor Paris, Assistant City Attorney
Reginald Zeno, Treasurer
Katherine Cenicola, Administrative Services Manager
I. Call to Order
With a quorum of the Board Members present, President Beck called the meeting to order for
the Board of Directors of the Fort Worth Research and Innovation Local Government
Corporation at 10:29 a.m. on Tuesday, September 24, 2024, in the City Council Conference
Room, Room 2020 of the Fort Worth Municipal Building, 200 Texas Street, Fort Worth,
Texas.
II. Approval of May 21, 2024, Minutes
President Back announced consideration of the minutes would be taken at the next meeting.
III. Briefings
a. Financial Report for the period of October 2023 through August 2024
No discussion occurred on the Financial Report. It was for informational purposes only.
IV. Action Items
Roger Venables, Aviation System Director, provided a staff report on Agenda Items IV a
through c.
CITY OF FORT WORTH, TEXAS
FORT WORTH RESEARCH AND INNOVATION GOVERNMENT CORPORATION
TUESDAY, SEPTEMBER 24, 2024
PAGE 2 of 3
a. Consider a Resolution Authorizing execution of an Interlocal Agreement (ILA) with
Texas A&M University System to detail the collaboration between both parties in the
development of pre -construction design and cost estimates (collectively, the "Plan") for
the Texas A&M Fort Worth Research and Innovation Building in an amount not to
exceed $18,000,000 (Roger Venables, Aviation Director)
Motion was made by Director Lauersdorf and seconded by Director Hill, to approve Resolution
No. RILGC-2024-05, authorizing execution of an Interlocal Agreement (ILA) with Texas A&M
University System to detail the collaboration between both parties in the development of pre -
construction design and cost estimates (collectively, the "Plan") for the Texas A&M Fort Worth
Research and Innovation Building in an amount not to exceed $18,000,000. The motion passed
on an 9-0 vote. Vice President Crain and Director Bivens absent.
b. Consider a Resolution Authorizing the execution of a Design and Pre -construction
Agreement (DPCA) with AFWP, LLC, ("Developer") in an amount not to exceed
$19,700,000 to develop the Plan, which includes proceeds from the sale of debt plus the
RILGC funds in the amount of $2,353,725 (Roger Venables, Aviation Director)
Motion was made by Director Lauersdorf and seconded by Director Flores, to approve
Resolution No. RILGC-2024-06, authorizing the execution of a Design and Pre -construction
Agreement (DPCA) with AFWP, LLC, ("Developer") in an amount not to exceed $19,700,000 to
develop the Plan, which includes proceeds from the sale of debt plus the RILGC funds in the
amount of $2,353,725. The motion passed on an 9-0 vote. Vice President Crain and Director
Bivens absent.
c. Consider a Resolution Authorizing the Issuance and Sale of Research and Innovation
Local Government Corporation Contract Revenue Bond, Series 2024 [in an amount not
to exceed $18,000,000]; Providing for the Security for and Payment of said Bond;
Approving a Purchase and Investment Letter; and Enacting other Provisions Relating
Thereto [to pay for the Development of Construction Plans and Cost Estimates for the
Texas A&M Fort Worth Research and Innovation Building] (Roger Venables, Aviation
Director)
Motion was made by Director Blaylock and seconded by Director Martinez, to approve
Resolution No. RILGC-2024-07, for conditional approval to allow A&M, which will be making
contract payments to support these bonds, to complete its final analysis and decide between two
of the submitted bids; to approve with an award to Truist Bank (Truist Commercial Equity, Inc.)
under the bid designated [Option A — Fixed Rate with Make -Whole Call] and an interest cost of
3.21 % or, in the alternative, to approve with an award to Truist Bank (Truist Commercial Equity,
Inc.) under the bid designated [Option C — Fixed Rate with Short Par Call] and an interest cost of
3.49%. The motion passed on an 9-0 vote. Vice President Crain and Director Bivens absent.
V. Executive Session
There was no Executive Session convened.
VI. Request for Future Agenda Items
CITY OF FORT WORTH, TEXAS
FORT WORTH RESEARCH AND INNOVATION GOVERNMENT CORPORATION
TUESDAY, SEPTEMBER 24, 2024
PAGE 3 of 3
There were no requests for future agenda items.
VII. Adjourn
With no further business before the Board, President Beck adjourned the regular session of the
Research and Innovation Local Government Corporation at 10:40 a.m. on Tuesday, September
24, 2024.
These minutes approved by the Research and Innovation Local Government Corporation on the
29 day of October, 2024.
kw'&4� APPROVED:
Elizabeth Beck
President
ATTEST:
Jannette S. Goodall
Secretary