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Home My WebLink About063394-R1 - General - Contract - Accelerate DFW Foundation, Inc.�� ....r �...�` CSC No. 63394-R1 February 2, 2026 Brian Harris Executive Director Accelerate DFW Foundation, Inc. 1150 South Freeway Suite #600 Fort Worth, TX 76104 Re: Renewal of Agreement between the City of Fort Worth ("City") and Accelerate DFW Faundation, Inc. formally known as the BAC Education Foundation, Inc. ("Foundation") for lease of Guinn Elementary School Building and Operation of Business Incubator (City Secretary Contract No. 63394) (the "Agreement") Dear Mr. Harris, We have received your request to exercise your option to renew the Agreement for space located at 600 East Rosedale Street, Fort Worth, Texas 76104 ("Premises"). Upon its execution, this letter will serve as confirmation that the Agreement's first renewal period will commence on April 1, 2026 and expire on March 31, 2027 and the second renewal period will commence on April 1, 2027 and expire on March 31, 2028. All terms and conditions of the Agreement shall continue to govern the parties during both of the renewal periods including, but not limited to, the reporting requirements contained within Sections 1.2, 3.1, 7.1.5, and 10.1. Please have this notice signed by the appropriate party and return via email to r��rii�n.��F��r�°s��Ca�f�rtworthtexa�.�ov fior execution by the City and the assignment of a contract number by the Office of the City Secretary. A fully executed copy will be returned to you for your files. The signatures below indicate each party's concurrence with these terms. [SIGNATURES APPEAR ON FOLLOWING PAGE) OFFICIAL RECORD CITY SECRETARY ��t wmrt� �� PROPERTY MANAGEMENT DEPARTMENT FT. WORTH, TX � � EI �! � REAL PROPERTY DIVISION �i [, <�. j��, THE CITY OF FORT WORTH * 2OO FORT WORTH T'RAII,, lO� FLOOR * FORT WORTFI, TEXAS 7610i � (Sl'� 392-7590 i�oa• a±,va, z�s� PnGE 1 oF 2 City: City of Fart Worth, a Texas home rule municipal corporation Valerie Washingtan��20, 2026 13�34:39 CST) Valerie Washington Assistant City Manager Foundation: Accelerate Fort Worth Foundation, Inc. a Texas non-pLofit corporation L� By: ^I �� Name: t'/t�t./�t�l ��5 Title: �i7�,�C.(,{,l1 ✓� t) � 1�''.�� Contract Compliance Manager: By signing I acknowledge that I am the person responsible for the monitoring and administration of this contract, including ensuring all performance and reporting requirements. �� Stuart Young, Property Management Assistant Director Approved as to form and legality: G�ir^� Z��S�,i� �,�------.� Thomas R. Hansen Sr. Assistant City Attorney 4 oaonpn � ao p � � FORT�� O �o Attest: o�°s o=c o�Q,� o0 00*� 0 �� h aaIl nezp544� Jannette S. Goodall City Secretary Contract Authorization: M&C: NA 25-0253 Date: NA 03/25/2025 �FFICIAL RECORD CITY SECRETARY �o�c wo�� s�mc,tc�ci;v ��;�' �i I i � 'v 19G3 � 1993 • 2012 FT. WORTH, TX PROPERTY MANAGEMENT DEPARTMENT REAL PROPERTY DIVISION THE CTl'Y OF FORT WORTH * 200 FORT WORTH 7RAIL� 10'$ FLOOR* FORT WORTH, TEXAS 76102 (81'n 342-7590 Page 2 of 2 ACITY COUNCIL AGEND Create New From This M&C DATE: CODE: 3/25/2025 REFERENCE NO.. L TYPE: �`�M&C 25- 0253 CONSENT LOG NAME: PUBLIC HEARING: F�1RT�'�'URTH -�� 17THIRD BAC LEASE & OPERATING AGREEMENT NO SUBJECT: (ALL) Authorize Execution of a One-Year Lease and Operating Agreement with Accelerate DFW Foundation, Inc., Formerly Known as the Fort Worth Business Assistance Center Education Foundation, Inc., for the Former Guinn Elementary School Building Located at 600 East Rosedale, Fort Worth, Texas, 76104 for $1.00 Per Year for Use as a Business Accelerator and Find that the Lease and Operating Agreement Serves a Public Purpose and that Adequate Controls are in Place to Ensure that the Public Purpose is Accomplished RECOMMENDATION: It is recommended that the City Council: 1. Authorize the execution of a one-year Lease and Operating Agreement with two, one-year renewal options with Accelerate DFW Foundation, Inc., formerly known as the Fort Worth Business Assistance Center Foundation, Inc., for the former Guinn Elementary School Building Located at 600 East Rosedale, Fort Worth, Texas, 76104 for $1.00 per year for use as a business accelerator; and 2. Find that the Lease and Operating Agreement serves the public purpose of promoting business within the City of Fort Worth and that the Lease and Operating Agreement includes adequate controls to ensure that the public purpose is accomplished. DISCUSSION: On March 24, 2020, through Mayor & Council Communication 20-0196, the City Council authorized the execution of the second Lease and Operating Agreement with Accelerate DFW Foundation, Inc., formerly known as the Fort Worth Business Assistance Center Education Foundation, Inc. (The Foundation), to operate a business accelerator at the former Guinn Elementary School Building located at 600 East Rosedale, Fort Worth, Texas, 76104. Business accelerators are programs that give developing companies access to mentorship, investors, and other support that can help them become stable and self-sufficient. In addition to mentorship and investment opportunities, a business accelerator gives growing companies access to logistical and technical resources, shared office space, and connection to a network of peers from whose experience they can learn, which, in turn, creates jobs and contributes to economic growth. The City's component of the Devoyd Jennings Business Assistance Center (BAC) is part of the Economic Development Department. The BAC is located in the former Guinn Elementary School Building, along with other business support organizations that provide business training, counseling, and financing. Additionally, The Foundation is a non-profit component of the BAC. The Foundation supports the mission of the BAC and its non-profit status allows it to seek and obtain corporate sponsorships. The Foundation represents a public/private partnership with the City, as reflected by its Board of Directors, which consists of corporate representatives and small business owners who possess a broad range of business expertise and experience. Because the Foundation already supports the mission of the BAC, provides business expertise and experience, has extensive history with supporting the mission of the BAC, and is able to seek private sector sponsorships and other funding sources, it is uniquely positioned to manage and operate the business accelerator. To assist the Foundation in fulfilling its role of managing and operating the accelerator, the City intends to lease the former Guinn Elementary School Building to the Foundation for $1.00 per year with two, one-year renewal options. The terms of the Lease and Operating Agreement between the Foundation and the City would be as follows: Begins immediately upon execution and continues for one-year, with two one-year renewal terms; The Foundation will use the building solely as a business accelerator and will sublease offices within the building to its clients to support their growth and development; The Foundation will retain all sublease revenue generated by its subtenants; The City will cover building utilities, maintenance, security, janitorial, insurance, and taxes, if any, imposed for the building under the existing Economic Development Department budget; Either party may terminate the lease for convenience with no less than three months' notice; The Foundation shall provide quarterly reports and an annual report to the City regarding accelerator operations and shall include all relevant information requested by the City (i.e. number of companies in the accelerator, terms and duration of subleases, basic client company information, entrance and exit criteria, training and support services provided or referred, number of companies graduated, jobs created, jobs retained, and financial information regarding operations); The Foundation shall be responsible for hiring appropriate personnel required to effectively manage and operate the accelerator; The City shall designate a primary liaison to the Foundation to serve as its primary point of contact and for communication and discussion of relevant matters; and The Foundation shall meet periodically or as needed with the City to discuss accelerator operations and other relevant matters. The operations of the Foundation are housed within the former Guinn Elementary School at 600 East Rosedale, located in COUNCIL DISTRICT 11, but will serve Fort Worth residents in ALL COUNCIL DISTRICTS. FISCAL INFORMATION/CERTIFICATION: The Director of Finance certifies that upon approval of the above recommendation and execution of the lease agreement, funds will be deposited into the General Fund. The Economic Development Department (and Financial Management Services) is responsible for the collection and deposit of funds due to the City. TO Fund Department Account Project ID ID FROM Fund Department � Account � Project i ID i i ID Program Activity Budget Reference # Amount , Year (Chartfield 2) Program Activity � Budget � Reference # i Year , (Chartfield 2) Submitted for City Manager's Office by_ Originating Department Head: Additional Information Contact: ATTACHMENTS Jesica McEachern (5804) Robert Sturns (2663) Robert Sturns (2663) Amount Accelerate Form 1295 Sianed.pdf (CFW Internal) F�RT��RTHo City Secretary's Office Contract Routing & Transmittal Slip Contractor's Name: Accelerate DFW Foundation, Inc. SUb� eCt Of tlle AgPee111el1t: Renewal of Agreement between the City of Fort Worth and Accelerate DFW Foundation Inc. M&C Approved by the Council? * Yes 0 No ❑ If �so, the M&C must be attached to the contract. Is this an Amendment to an Existing contract? Yes ❑ No ❑✓ renewal of contract 63394 If �so, provide the original contract number and the amendment number. Is the Contract "PermanenY'? *Yes ❑ No 0 If �unsure, see back page for permanent contract listing. Is this entire contract Confidential? *Yes ❑ No ❑✓ If only specific information is Confidential, please list what information is Confidential and the page it is located. EffeCtlVe Date: upon signature by Assistant City Manager Expiration Date: 3/31 /2028 If different from the approval date. If applicable. Is a 1295 Form required? * Yes ❑ No ❑✓ *If �so, please ensure it is attached to the approving M&C or attached to the contract. Proj ect Number: If applicable. n/a *Did you include a Text field on the contract to add the City Secretary Contract (CSC) number? Yes ❑✓ No ❑ Contracts need to be routed for CSO processin� in the followin� order: 1. Katherine Cenicola (Approver) 2. Jannette S. Goodall (Signer) 3. Allison Tidwell (Form Filler) *Indicates the information is required and if the information is not provided, the contract will be returned to the department.