HomeMy WebLinkAbout28222-01-2026 - City Council - OrdinanceOrdinance No.28222-01-2026
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE
PUBLIC EVENTS CAPITAL FUND, IN THE AMOUNT OF $828,738.00, FROM AVAILABLE
COMMERCIAL EXHIBIT BUILDING LEASE FUNDS IN UNSPECIFIED-COWTOWN COLISEUM
PROJECT (CITY PROJECT NO. UNSPCC), RESULTING FROM MANAGEMENT AND
OPERATIONS PROFITS AT THE COWTOWN COLISEUM, FOR
THE PURPOSE OF FUNDING THE FY24 COWTOWN STRUCTURAL REPAIR PROJECT
(CITY PROJECT NO. 106682) TO REIMBURSE STOCKYARDS COLISEUM LLC FOR ROOFING
AND EXTERIOR BUILDING IMPROVEMENTS AT THE COWTOWN COLISEUM; 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 2025-2026 in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the Public
Events Capital Fund, in the amount of $828,738.00, from available Commercial Exhibit Building Lease
funds in UNSPECIFIED-COWTOWN COLISEUM project (City Project No. UNSPCC), resulting from
management and operations profits at the Cowtown Coliseum, for the purpose of funding the FY24 Cowtown
Structural Repair project (City Project No. 106682) to reimburse Stockyards Coliseum LLC for roofing and
exterior building improvements at the Cowtown Coliseum.
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 orjudgment 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 27979-09-2025 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said prior ordinances and appropriations are hereby expressly repealed.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:
Assistant City Attorney
ADOPTED AND EFFECTIVE: January 13, 2026
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Jannette S. Goodall
City Secretar
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City of Fort Worth, Texas
Mayor and Council Communication
DATE: 01/13/26 M&C FILE NUMBER: M&C 26-0052
LOG NAME: 21COWTOWN COLISEUM ROOF REPAIRS
SUBJECT
(CD 2) Adopt Appropriation Ordinance in the Public Events Capital Fund in the Amount of $828,738.00, from Available Commercial Exhibit
Building Lease Funds Resulting from Management and Operations Profits at the Cowtown Coliseum, for the Purpose of Reimbursing Stockyards
Coliseum LLC for Roofing and Exterior Building Improvements at the Cowtown Coliseum, and Amend the Fiscal Years 2026-2030 Capital
Improvement Program
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Public Events Capital Fund, in the
amount of $828,738.00 from available Commercial Exhibit Building Lease funds UNSPECIFIED-COWTOWN COLISEUM project (City
Project No. UNSPCC), resulting from management and operations profits at the Cowtown Coliseum, for the purpose of funding the FY24
Cowtown Structural Repair project (City Project No. 106682) to reimburse Stockyards Coliseum LLC for roofing and exterior building
improvements at the Cowtown Coliseum; and
2. Amend the Fiscal Years 2026-2030 Capital Improvement Program.
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to appropriate funding in the Public Events Capital Fund from available
Commercial Exhibit Building Lease proceeds from profits related to the management of the Cowtown Coliseum currently operated by Stockyards
Coliseum LLC (Operator) for the purpose of reimbursing the Operator for roofing and exterior building improvements.
On February 12, 2002, City Council authorized the execution of a License Agreement with Rodeo Plaza, Inc. for the management and operation of
Cowtown Coliseum, located at 122-133 East Exchange Avenue, Fort Worth, Texas 76164 (M&C C-18960).
On December 17, 2019, City Council authorized the execution of an amended and restated License Agreement for the management and
operation of the Cowtown Coliseum (M&C 19-0401) (License Agreement) that was later assigned to Stockyards Coliseum, LLC (Stockyards
Coliseum). As part of the agreement, Stockyards Coliseum agreed to pay the City of Fort Worth (City), in arrears, an annual payment equal to 20%
of the net profits generated from the operation of the Cowtown Coliseum.
On August 7, 2024, City Council authorized an amendment to the License Agreement (M&C 24-0755) with Stockyards Coliseum, LLC to reduce
the City's percentage of net profits from 20% to 12% in exchange for terms allowing net profits to be used for debt coverage and additional funding
to developers for promotion of the stockyards area.
Per section 4.1 of the License Agreement, the "City shall perform, at its sole cost and expense, all maintenance, repair and replacement for (i) the
roof and exterior walls of the Cowtown Coliseum." The Operator submitted a reimbursement request in accordance with section 4.1 of the License
Agreement for roofing and other exterior repairs performed at the Cowtown Coliseum. The renovations total $828,738.00.
Funding for this project was not included in the FY2026-2030 Capital Improvement Program due to the building improvements not being
completed in time to be incorporated into the Capital Improvement Program at the time of adoption. The action in this M&C will amend the
FY2026-2030 Capital Improvement Program as approved in connection with Ordinance 27979-09-2025.
Funding is budgeted in the Public Events Capital Fund for the Public Events Department for the purpose of funding the FY24 Cowtown Structural
Repair project.
This property is located in Council District 2.
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 funds are currently available in the UNSPECIFIED-COWTOWN COLISEUM project within the Public Events
Capital Fund and upon approval of the above recommendations and adoption of the attached appropriation ordinance, funds will be available in
the Public Events Capital Fund for the FY24 Cowtown Structural Repair project. Prior to any expenditure being incurred, the Public Events
Department has the responsibility of verifying the availability of funds.
Submitted for Citv Manaaer's Office bv: Valerie Washington 6199
Oriainatina Business Unit Head: Marilyn Marvin 7708
Additional Information Contact: Eliana Guevara 5199