M&C Review


COUNCIL ACTION:  Approved on 3/21/2017 

DATE: 3/21/2017 REFERENCE NO.: **C-28149 LOG NAME: 17WATERSIDEAMEND2
CODE: C TYPE: CONSENT PUBLIC HEARING: NO
SUBJECT:   Authorize Execution of Amendment to City Secretary Contract No. 45725, Economic Development Program Agreement with FW Waterside Partners LLC, to Extend the Completion Deadline for the First Phase of a Mixed-Use Development to be Located in the Vicinity of Bryant Irvin Road and Arborlawn Drive (COUNCIL DISTRICT 3)

RECOMMENDATION:

It is recommended that the City Council authorize the City Manager to execute an amendment to the Economic Development Program Agreement with FW Waterside Partners LLC, City Secretary Contract No. 45725, to extend the completion deadline for the first phase of a mixed-use development to be located in the vicinity of Bryant Irvin Road and Arborlawn Drive from March 19, 2017 to August 1, 2017 on account of construction delays caused by inclement weather and other unforeseen circumstances.

 
DISCUSSION:

On March 4, 2014, (M&C C-26698) the City Council authorized execution of an Economic Development Program Agreement (City Secretary Contract (CSC) No. 45725) (Agreement) with with Trademark Property Company or an affiliate (Trademark) related to a mixed-use project to be constructed on the west side of Bryant Irvin Road at Arborlawn Drive at the former site of the Lockheed Martin Recreation Area in southwest Fort Worth.  The planned development was to be constructed in two phases, with the first phase to be completed by December 31, 2016. In return, the City agreed to pay Trademark certain annual economic development grants, as authorized by Chapter 380, Texas Local Government Code.

The Agreement provides that deadlines established by the Agreement may be extended on account of events that cause delays and that are not the fault of the performing party (identified in the Agreement as events of force majeure).  On June 21, 2016, (M&C C-27774) the City Council approved an amendment to change the completion deadline for the first phase of the development from December 31, 2016 to March 19, 2017 as a result of inclement weather delays occurring between October 1, 2014 and January 31, 2016.

On February 2, 2017, the developer notified the City by letter that various events of inclement weather, as well as other unforeseen circumstances, occurring between February 1, 2016 and February 2, 2017 constituted events of force majeure under the Agreement.  The developer provided Staff with documentation to substantiate a total of a 141 day delay during that period.  In order to provide clarity to the rights of both the City and the developer, Staff recommends that the Agreement be amended to change the completion deadline for the first phase of the development from March 19, 2017 to August 1, 2017.

This project is located in COUNCIL DISTRICT 3.

 
FISCAL INFORMATION/CERTIFICATION:

The Director of Finance certifies that this action will have no material effect on the Fiscal Year 2016 Budget.  While no current year impact is anticipated from this action, any effect on expenditures and revenues will be budgeted in future fiscal years and will be included in the long-term financial forecast.

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Submitted for City Manager's Office by:
Jay Chapa (5804)
Originating Department Head:
Robert Sturns (212-2663)
Additional Information Contact:
Brenda Hicks-Sorensen (870-0154)

 
 
ATTACHMENTS
  170213_Waterside 1295 Certificate 100176560 Executed.pdf