HomeMy WebLinkAboutIR 25-0026INFORMAL REPORT TO CITY COUNCIL MEMBERS
No. 25-0026
To the Mayor and Members of the City Council February 4, 2025
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SUBJECT: FUNDING OF WILL ROGERS MEMORIAL CENTER COLISEUM
rrn RENOVATION PROJECT, PHASE 1
The purpose of this Informal Report is to provide the City Council with an overview of the City's
partnership with Event Facilities Fort Worth (EFFW) concerning the first phase of renovations to the Will
Rogers Memorial Center (WRMC) Coliseum.
The City and EFFW, a subsidiary of the Fort Worth Stock Show and Rodeo, have a long-standing
partnership as it pertains to the renovation of facilities at the 88-year-old Will Rogers Memorial Center.
Projects completed by this partnership include the renovation of Cattle Barns 3 and 4, the construction of
the Tower Promenade and the recent renovation of the Sheep and Swine Barns. This partnership
between the City and EFFW was strengthened last year with the execution of a Master Services
Agreement, which enables EFFW to directly execute capital projects on the City's behalf.
The City and EFFW have agreed to amend the Master Services Agreement for EFFW to manage the first
phase of renovations to the WRMC Coliseum. The scope of this $47M project includes, but is not limited
to the following:
• Restroom Renovations
• Concourse Renovations
• Air -Handler Replacement
• Back of House Facilities Renovation
• New Food and Beverage Facilities
The Coliseum will be closed in March of 2025, renovated, and re -opened in time for the 2026 Fort Worth
Stock Show & Rodeo. Coliseum customers have agreed to give up their contractual right to use the
facility in order for this renovation project to move forward.
The project will be funded from the 2023 and 2025 WRMC Capital Project debt sales, Culture and Tourism
Funds, and a $5M cash contribution from EFFW. Council will be asked to consider approving an M&C to
allocate full funding of this project in April of 2025. The funding sources are as follows:
• Culture and Tourism Funds Budgeted for WRMC Capital $10,520,000
• Additional Contribution from Culture and Tourism Funds 5,000,000
• Savings from Other WRMC Capital Projects 2,725,798
• 2023 WRMC Capital Debt 15,498,698
• 2025 WRMC Capital Debt 8,700,000
• Fort Worth Stock Show and Rodeo Contribution 5,000,000
Total: $47,444,496
If you have any questions or concerns related to this report, please contact Michael Crum, Director of
Public Events, at 817-392-2501.
Jesus "Jay" Chapa
City Manager
ISSUED BY THE CITY MANAGER
FORT WORTH, TEXAS