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HomeMy WebLinkAboutResolution 4517-09-2015 A Resolution NO. 4517-09-2015 STATEMENT EXPRESSING OFFICIAL INTENT TO REIMBURSE EXPENDITURES WITH PROCEEDS OF FUTURE DEBT FOR THE NORTH TARRANT EXPRESS SEGMENT 3A, IH-35W FROM IH-820 TO IH-30 PROJECT WHEREAS, the City of Fort Worth, Texas (the "City") is a home-rule municipality and political subdivision of the State of Texas; and WHEREAS, the City expects to pay expenditures in connection with the design, planning, acquisition and construction for the North Tarrant Express Segment 3A, IH-35W from IH-820 to IH-30 project as shown on the attached map (the "Project") prior to the issuance of obligations by the City in connection with the financing of the Project from available funds; and WHEREAS, the City finds, considers, and declares that the reimbursement of the City for the payment of such expenditures will be appropriate and consistent with the lawful objectives of the City and, as such, chooses to declare its intention, in accordance with the provisions of Section 1.150-2 of the Treasury Regulations, to reimburse itself for such payments at such time as it issues obligations to finance the Project; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: Section 1. The City reasonably expects debt, as one or more series of obligations, may be issued or incurred by the City with an aggregate maximum principal amount not to exceed $500,000.00 for the purpose of paying the aggregate costs of the Project. Section 2. All costs to be reimbursed pursuant hereto will be capital expenditures. No obligations will be issued by the City in furtherance of this Statement after a date which is later than 18 months after the later of (1) the date the expenditures are paid or (2) the date on which the property, with respect to which such expenditures were made, is placed in service. Section 3. The foregoing notwithstanding, no obligation will be issued pursuant to this Statement more than three years after the date any expenditure which is to be reimbursed is paid. Adopted this 29th day of September, 2015. ©®� ATTEST:_ Mary KaYr, City Secretary 'P ORT'WORT MAYOR AND COUNCIL COMMUNICATION MAP 60NTESEG3A-A3-KHA v drrdi a MFr r p ✓` r,I T �1 �;N1r9 `'+ [ 1 At 'f+'wr rrA $ rr r Ijbl0yf l, ?7 f,.pu,1 av„i r r wire �2r 6 a y d " r wd �kl „ 1 d'�' . , b y J +d rr or a-'nS¢Y f7 y/i �4 li r i/f ftf .- x P Y ,a,,, ti•r m r,£, 4A,. �a ra, � ! 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(JP niclrlpr fsC Ut V odic 156 ������ti��t ����✓�m +i/Cyst rE7��u OUr Lail y of a Meacham International Airport ;, Guadalupe Church il Rd ProBulldQ 07" Hadiorshack Packaging(.0 u NE.38th St w� r Vintage Flying Museum( NW 38th St �o NE a7u w Buck Sanaorn lark r ?J 4,i +Srxp � ,.~•;, . . ..ty »' l � # ✓� NVI 361111'i �„�r � ry r NE 3 th;t _u 9U� NW 35h St NW 350)`it Z A� p!F, ...... m rar ' ua tJ5 ? vs t+JL Nth SC n Marine Creek Linear flank 8�,� �., W Long Ave W hoar Ave 11,1 _114 n Long Ave Grl, �r � NL tGntN.7t yr c NW 32nrti,aC 11, City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved on 9/29/2015 Resolution No. 4517-09-2015 DATE: Tuesday, September 29, 2015 REFERENCE NO.: **C-27487 LOG NAME: 60NTESEG3AA3 - KHA SUBJECT: Authorize Execution of Amendment No. 3 to City Secretary Contract No. 43959, an Engineering Agreement, with Kimley-Horn and Associates, Inc., in the Amount of$400,000.00 for a Revised Contract in the Amount of$1,148,400.00 for Design Oversight and Project Management Services on North Tarrant Express Segment 3A, IH-35W from IH-820 to IH-30 and Adopt Reimbursement Resolution (COUNCIL DISTRICTS 2, 8 and 9) RECOMMENDATION: It is recommended that the City Council: 1. Authorize the execution of Amendment No. 3 in the amount of $400,000.00 to City Secretary Contract No. 43959, an Engineering Agreement with Kimley-Horn and Associates, Inc., for Design Oversight and Project Management Services on North Tarrant Express Segment 3A IH-35W from IH-20 to IH-30 for a revised contract total of$1,148,400.00; and 2. Adopt the attached Resolution expressing official intent to reimburse expenditures with proceeds of future debt for Amendment No. 3 to City Secretary No. 43959 for Design Oversight and Project Management Services on North Tarrant Express Segment 3A IH-35W from IH-820 to IH-30. DISCUSSION: On June 23, 2009, Texas Department of Transportation (TXDOT) entered into a 10-year Agreement with North Tarrant Express Mobility Partners (NTEMP) to identify and construct highway improvements in northeastern part of Tarrant County including portions of the IH-35W, IH-820 and IH-183 corridors within the City. On October 23, 2012 (M&C C-25942) the City Council authorized an Engineering Agreement with Kimley-Horn and Associates, Inc. (Kimley-Horn), in the amount of $698,700.00 for design oversight and project management services on North Tarrant Express Segment 3A on IH-35W from IH-820 to IH-30 (City Secretary Contract No. 43959). On September 18, 2013, the Agreement was amended to provide for revised scope at no additional cost. On July 28, 2014, the Agreement was administratively amended to provide for additional scope and fee in the amount of$49,700.00. As NTEMP continues to expand the highway project, it is necessary to execute Amendment No. 3 to provide for following additional services on the project: Project management. Plan reviews of drawings provided by the contractor or other engineers. Construction support services including attend preconstruction meetings, on-site observations, construction progress meetings and shop drawing reviews. Project meetings with the City, stakeholders, contractors, other consultants and citizens. Conflict Analysis along [H-35W. T.nuname- 60NTF,SFG3AA3 - KHA Page 1 of 4 Subject to approval of this M&C, appropriations for Amendment No. 3 will consist of the following: Water Isewer ITotals lAuthorization Original Contract $349,350.00 $349,350.00 $ 698,700.00[C-25942 Amount r _ Amendment �$ 0.00 $ 0.00�$ 0.00[Administrative Amendment _ $ 24,850.00 24,850.00�$ 49,700.00 Administrative INo. 2 Amount of _ Proposed $200,000.00 $200,000.00 $ 400,000.00 This M&C Amendment Revised Contract [$574,2100.00 $574,200.00 $1,148,400.00 Amount Upon approval of this Mayor and Council Communication, appropriations will consist of the following: Engineering Agreement $1,148,400.00-1-11111-11r Utility Betterment (M&C C-26908) $1,500,000.00 Project Management, Inspection and as- $ 83,300.00 Built Serves Project Appropriations $2,741,700.00 Total chart below depicts the total project funding by source: [Fund Existing Additional Revised Encumbrances/ Expenditures Remaining Appropriations Appropriations Appropriations Balance � Water Capital Projects$ 30,000.00$ 0.00 $ 30,000.00 13,680.42 16,319.58 Fund (P253) Sewer �� Capital Projects$ 10,000.00$ 0.00 $ 10,000.00 8,472.89 1,527.11 Fund (P258) Water Capital Projects$ 1,900,850.00$ 0.00 $ 1,900,850.00 377,240.72 $1,523,609.28 Fund (P265) Sewer Capital Lo name: 6ONTESEG3AA3 - KHA Paiae 2 of 4 Projects Fund $ 400,850.00$ 0.00 $ 400,850.00 $ 368,677.83 32,172.17 (P275) 2017 Water and Sewer Revenue$ 0.00 $ 400,000.00$ 400,000.00$ 0.00 $ 400,000.00 Bonds Capital Project Fund (P266) T ct �2,341,700.00I$ 400,000.001$ 768,071.86 768,071.861$1,973,628.14 This project is anticipated to be included in a future revenue bond issue for the Water and Sewer Fund. Available cash within the Water and Sewer portfolio and the City's portfolio along with the appropriation authority authorized under the Direct Purchase Note Program will be used to provide interim financing for this project until debt is issued. To the extent resources other than the Water and Sewer portfolio are used to provide interim financing, the Water and Sewer Fund will be charged interest that is equivalent to the overall rate of return being earned by the City portfolio (currently approximately one- percent annually). Should the City's portfolio not support the liquidity needed to provide an interim short- term financing source, another funding source will be required, which could mean issuance of securities under the Direct Purchase Note Program or earlier issuance of Water and Sewer revenue bonds than is currently planned. Once debt associated with this project is sold, bond proceeds will be used to reimburse the Water and Sewer portfolio and the City's portfolio in accordance with the attached Reimbursement Resolution. In accordance with the provisions of the Financial Management Policy Statements, Staff anticipates presenting revenue-supported debt issuances to the City Council for consideration within the next three years. The Financial Management Services Department is currently working with all departments to ensure that multi-year capital improvements plans are in place. Newly developed and already existing plans, such as the Water Department's current multi-year capital improvement plan, will be presented to City Council for review and adoption. If the City Council-adopted plan does not include issuance of debt for this specific project, the project will be funded by other financing sources. If the council-adopted plan calls for debt issuance, that debt must be issued within approximately three years to provide reimbursement for these expenses. If that does not occur, the costs will no longer be reimbursable by issuing tax-exempt debt and the funding source will have to be made whole through other budgetary methods. Adoption of this resolution does not obligate the City to sell bonds, but preserves the ability to reimburse the City from tax-exempt bond proceeds. Of the original contract amount of $698,700.00, NTEMP (as of March 2015) has reimbursed the City $233,702.22. Kimley-Horn proposes to perform the additional tasks for a lump sum fee in the amount of $400,000.00 Staff considers this fee to be fair and reasonable for the scope of services proposed. M/WBE OFFICE - Kimley-Horn agrees to maintain its initial M/WBE commitment of 11 percent that it made on the original Agreement and extend and maintain that same M/WBE commitment of 11 percent to all prior amendments up to and inclusive of the Amendment No. 3. Therefore, Kimley-Horn remains in compliance with the City's M/WBE Ordinance and attests to its commitment by its signature on the Loi2name: 60NTESEG3AA3 - KHA Pate 3 of 4 Acceptance of Previous M/WBE Commitment Form executed by and an authorized representative of its company. This project is located in COUNCIL DISTRICTS 2, 8 and 9, Mapsco 49F, 49L, 49Q, 49X, 638, 63F, 63P, 63T and 63X. FISCAL INFORMATION / CERTIFICATION: The Financial Management Services Director certifies that funds are available in the 2017 Water and Sewer Revenue Bonds Capital Project Fund for this contract. Currently available revenue in the 2017 Water and Sewer Revenue Bonds Capital Project Fund is $40,956,639.97. Upon approval of the recommendation, revenue will be appropriated for use in the project, as follows: Fund Available Projnected Balance Appropriation Amount Expeditures 2017 Water and Sewer Revenue Bonds Capital $ 40,956,639.97 $ 400,000.00 $40,556,639.97 Project Fund FUND CENTERS: TO Fund/Account/Centers FROM Fund/Account/Centers P266 531200 602170201131 $60,000.00 P266 531200 602170201132 $120,000.00 P266 531200 602170201133 $20,000.00 P266 531200 702170201131 $60,000.00 P266 531200 702170201132 $120,000.00 P266 531200 702170201133 $20,000.00 CERTIFICATIONS: Submitted for City Manager's Office by: Jay Chapa (6122) Originating Department Head: John Carman (8246) Additional Information Contact: John Kasavich (8480) Lo,aname: 60NTESEG3AA3 - KHA Paae 4 of 4