The URL can be used to link to this page

Home My WebLink AboutContract 28974 Jaynes R.ToaE Co-Chairman GldeonTbal coN SECRETARY Y April 30, 2003 Mr. Tom Higgins Economic Development Department City of Fort Worth 900 Monroe, Suite 301 Fort Worth, TX 76102 Re: Implementation of Lancaster TIF- Phase II Dear Mr. Higgins: Thank you for asking Gideon Toal to submit a proposal to provide professional services to evaluate and possibly put in place a South Downtown / Lancaster Corridor TIF. 1 have summarized the proposed professional services for Phase 11 below: Phase 11: Expand and Update all Data to Make TIF Increment Projections Task 1I.1 Develop and work with the City to attain consensus on the TIF Boundary, provide database of existing TAD values for land and improvements, ownership data, and current land use information. This data base and maps, in essence, is the baseline data and potential TIF base. From this data, we are able to generate the TIF projections and expected increments. Key Products: TIF database and accompanying maps in spreadsheet, digital map, and PowerPoint summary formats. Task I1.2 For each block in the proposed zone, develop projections for future land uses, values, and timing/phasing of proposed developments. This task will be the basis for developing a spreadsheet model of potential TIF increments, given a reasonable range of development assumptions. Key Products: Spreadsheet model on a block by block basis with low and medium projections of the development potential of the proposed TIF. Task II.3 Based on land uses and projections from above, develop draft financing pro forma (and support spreadsheets) for a 20,30, and 40 year time period. This model will allow the City, consultants and others to test various scenarios and agree on the most likely scenario for the eventual financing plan. Key Products:This model will allow the City, consultants and others to test various scenarios and agree on the most likely sc nario eventual financing plan. ' Architecture • Engineering • Planning • Interiors • Landscape Architectur �% „ 500 West Seventh Street Suite 1400 Fort Worth, Texas 76102 Phone 817.335.499 8 i "V 7'rvp a;�g q GldeonTbal Mr. To Higgins April 30, 2003 Page 2 Task 11.4 Develop probable list of TIF eligible projects. This will be based on available project plans and projects deduced from the block by block analysis. Task ILS Work with City officials to determine how TIF can leverage selected short term public/private investments (such as the T&P Building Project). This effort will be in support of City Economic Development staff should time sensitive prospects arise within the next few weeks and months during the TIF formation period. Professional Fee for Phase 11: $17,640 with $1,000 allowance for direct reimbursable expenses Key Staff: James Toal, David Pettit, Laurie Fleiner, Mary Swofford This effort is estimated to take 126 professional hours over the next 6 months. Phase 11 will be finished in June with major products by May 20, 2003 if we are authorized to proceed this week. Thanks again for considering Gideon Toal. Our knowledge of Downtown, the Lancaster corridor and the process of TIF formation should make us very qualified for this effort. Sincerely, w N - vi,,wD AS'ffl FORM AND J s Toal 9-0- AGREED TO AND ACCEPTED BY: C`003 ...... .......... Tom Higgins' Date f Economic Development City of Fort Worth 7 AMU By cozitract Authorization /p 671 Date Lancaster/South Downtown TIF Analysis and Implementation Hours Fee 00 'Phase � N/ 5� O/c ��°✓ 'Phase 11-Expand and Update Proposed TIF Projections Develop and get Consensus on an expanded TIF Boundary and Update the MMMMM 11.1 Existing Values,Ownership,and Land Uses for the Expanded Area 24 $ 3,360 For each block in the proposed zone,develop projections for future land MMMMM 11.2 uses,values,and timing/phasing of proposed developments 48 $ 6,720 Based on land uses and projections from above,develop draft financing pro forma(and support spreadsheets) for a 20,30,and 40 year time period MMMMM MMMMM 11.3 (note:this becomes the basis for the required financing plan) 40 $ 5,600 11.4 Develop Preliminary List of Possible TIF Eligible Projects 8 $ 1,120 MMMMM MMMMM Work with City officials to determine how TIF can leverage selected short MMMMM MMMMM 11.5 term public/private investments(such as the T&P Building Project) 6 $ 840 Subtotal for Phase ll: 126 $ 17,640 Phase III-Complete the TIF Formation Process with City Officials Develop Preliminary Finance Plan,Project Plans,and Detailed Description of TIF Zone,and all other exhibits required for local government review and MMMMM MMMMM MMMMM 111.1 approval(except for legal documents) 162 $ 22,680 Provide support,attendance,phone call explanations,and PowerPoint presentations,for staff meetings,stakeholder meetings,public hearings, MMMMM MMMMM MMMMM 111.2 and local jurisdiction meetings required to implement the TIF 64 $ 8,960 Subtotal for Phase 111: 226 $ 31,640 Total Professional Fee: 352 $ 49,280 Reimbursable Expenses(charged at direct costs) R1 Phase II $ 1,000 R2 Phase III $ 3,000 Reimbursable Allowance $ 4,000 140