HomeMy WebLinkAboutOrdinance 27541-03-2025Ordinance No. 27541-03-2025
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE CULTURE AND TOURISM FUND, IN THE
AMOUNT OF $290,000.00 FROM AVAILABLE FUND BALANCE, FOR THE
PURPOSE OF HIRING A CONSULTANT TO ASSIST THE CITY IN THE
SELECTION OF A MASTER DEVELOPER FOR THE SITE ON COMMERCE
STREET CREATED BY PHASE 1 OF THE FORT WORTH CONVENTION
CENTER EXPANSION AND RENOVATION PROJECT; PROVIDING FOR A
SEVERABILITY CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF
PRIOR ORDINANCES; REPEALING ALL ORDINANCES IN CONFLICT
HEREWITH; AND PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS:
SECTION 1.
That in addition to those amounts allocated to the various City departments for Fiscal Year 2024-2025 in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the Culture
and Tourism Fund, in the amount of $290,000.00 from available fund balance, for the purpose of hiring a
consultant to assist the City in the selection of a Master Developer for the site on Commerce Street created by
Phase 1 of the Fort Worth Convention Center Expansion and Renovation Project.
SECTION 2.
That should any portion, section or part of a section of this ordinance be declared invalid, inoperative or void
for any reason by a court of competent jurisdiction, such decision, opinion or judgment shall in no way impair
the remaining portions, sections, or parts of sections of this ordinance, which said remaining provisions shall
be and remain in full force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance 27107-09-2024 and all other ordinances and
appropriations amending the same except in those instances where the provisions of this ordinance are in
direct conflict with such other ordinances and appropriations, in which instance said conflicting provisions of
said prior ordinances and appropriations are hereby expressly repealed.
SECTION 4.
This ordinance shall take effect upon adoption.
APPROVED AS TO FORM AND LEGALITY: CITY SECRETARY
Jannette S. Goodall
Assistant City Attorney City Secretary
ADOPTED AND EFFECTIVE: March 11, 2025
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 03/11/25 M&C FILE NUMBER: M&C 25-0221
LOG NAME: 25CONSULTANT TO SELECT MASTER DEVELOPER FOR COMMERCE ST SITE
SUBJECT
(CD 9) Authorize Execution of a Professional Services Agreement with Con -Real Support Group, Inc. in the Amount Up to $290,000.00 to Assist
the City in the Selection of a Developer for the Site on Commerce Street Created by Phase 1 of the Fort Worth Convention Center Expansion and
Renovation Project, and Adopt Appropriation Ordinance.
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize execution of a Professional Services Agreement with Con -Real Support Group, Inc. in the amount up to $290,000.00 to advise the
City on the selection of a developer for the development of the site on Commerce Street created by Phase 1 of the Fort Worth Convention
Center Expansion and Renovation project; and
2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Culture and Tourism Fund, in the
amount of $290,000.00, from available fund balance, for the purpose of hiring a consultant to assist the City in the selection of a developer
for the site on Commerce Street created by the Phase 1 of the Fort Worth Convention Center Expansion and Renovation project.
DISCUSSION:
Phase 1 of the Fort Worth Convention Center (FWCC) Expansion and Renovation project includes the straightening of Commerce Street. The
straightening of Commerce Street creates a new City -owned parcel that can be developed to support the Convention Center, Texas A&M
Campus, and other development occurring in the Southeast quadrant of Downtown.
To fulfill the development recommendations described in the Convention District Development Study and accommodate needs of ongoing
development downtown, the Commerce Street property should include a 600-1,000-room hotel, parking to support the Convention Center, Texas
A&M and hotel, and retail opportunities designed to cater to visitors to the FWCC and Texas A&M. The staffs recommendation is that this
development be managed by a single developer.
The City intends to maximize the value of its investment through the selection of the developer. To ensure this return on investment goal is attained,
the City will hire a consultant to assist in the selection of this development partner. The preferred consulting team will be familiar with publio-private
partnerships, local development market conditions and have prior experience in similar projects.
The staffs recommendation is to engage Arlington -based Con -Real Support Group for this purpose. Con -Real Support Group offers a unique
combination of all of the aforementioned expertise that cannot be found in other consulting firms. The Con -Real consulting team is a combination
of public, private, and semi-public officials who are familiar with public -private partnerships in a public setting:
The frm's experience includes the development of the Tarrant County Entertainment District in Arlington, featuring two Loews hotels, Arlington
Convention Center, and the Texas Live entertainment facility. Con -Real team members have also been involved in multiple hotel and mixed -use
developments in the DFW Metroplex, AT&T Stadium, convention center renovations in Dallas and Irving, and renovation of State Farm Arena in
Atlanta (adjacent to CNN Center and Mercedes Benz Stadium). A registered Business Equity firm in the Metroplex, Con -Real is uniquely
positioned to assist the City of Fort Worth in the selection of a developer for the Commerce Street property. Con-Real's engagement will begin
after Council approval of the agreement and conclude with the negotiation of an agreement with the developer of choice.
Con-Real's base fee for this work is $190,000.00, which provides for the firm to advise the City through the selection of a developer. If the firm
advises the City on contract negotiations with the selected developer, those services are provided on a time and materials basis, capped
at $100.000.00.
FISCAL INFORMATION 1 CER F CAT ON:
The Director of Finance certifies that funds are currently available in fund balance within the Culture and Tourism Fund and upon approval of the
above recommendations and adoption of the attached appropriation ordinance, funds will be available in the Culture and Tourism Fund. Priorto
an expenditure being incurred, the Public Events Department has the responsibility to validate the availability of funds.
Submitted for City Manager's Qfficg by: Jesica McEachem 5804
Originating Business Unix Head: Michael Crum 2501