HomeMy WebLinkAboutItem 07 - Grapevine Main Station MEMO TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: BRUNO RUMBELOW, CITY MANAGER --
MEETING DATE: NOVEMBER 21, 2017
SUBJECT: CONSIDER A REIMBURSEMENT RESOLUTION AND AN
ORDINANCE APPROPRIATING FUNDS TO THE CAPITAL
PROJECTS GENERAL FACILITY FUND
RECOMMENDATION:
City Council to consider:
1. Adopting a resolution to reimburse for costs associated with the design and
construction of the Grapevine Main Station and garage from proceeds of
obligations to be issued subsequent to the date hereof estimated at $38,045,000.
2. Adopting an appropriation ordinance to:
Appropriate $12,000,000 from the undesignated CVB Fund balance and transfer
funds to the Capital Projects General Facility Fund;
Appropriate $10,000,000 from the undesignated Economic Development Capital
Fund balance and transfer funds to the Capital Projects General Facility Fund.
The FY17 adopted budget included $7,000,000 for the project;
Increase estimated receipts in the Capital Projects General Facility Fund in the
amount of $15,000,000 from TexRail for its $20,000,000 contractual funding
obligation;
Increase estimated receipts in the amount of $33,045,000 from the
reimbursement resolution; and
Appropriate $77,045,000 in the Capital Projects General Facility Fund for the
purpose of funding the Grapevine Main Station and garage.
FUNDING:
Upon approval of the attached appropriation ordinance, funds will be available in the
Capital Projects General Facility Fund in the amount of $77,045,000.
BACKGROUND:
In 2006, the citizens of Grapevine overwhelmingly voted to approve the creation of an
Economic Development 4B fund for the primary purpose of providing passenger rail
service. Since that time, the City has worked closely with TexRail to achieve this goal.
The future station, located at the corner of Dallas Road and Main Street, will consist of
an observation tower, public plaza, parking garage, public meeting spaces, market hall,
and retail spaces.
Approval of this memo will provide for full project funding. Contract authorization to
begin construction on the parking facility and begin site-work will be on the December 5,
2017 agenda. Staff will return at a later date for contract approval for the remainder of
the project development including the station, observation tower, public plaza, and public
meeting spaces.
The parking structure will be completed by the end of December 2018, and it is
anticipated the remainder of the project will be completed by summer 2019.
Staff recommends approval.
GJ/JB
RESOLUTION NO. 2017-091
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS EXPRESSING INTENT TO FINANCE
EXPENDITURES TO BE INCURRED AND PROVIDING AN
EFFECTIVE DATE
WHEREAS, the City of Grapevine, Texas (the"City") is a political subdivision of the
State of Texas authorized to finance its activities by issuing obligations; and
WHEREAS, the City has awarded a contract to Coury Hospitality for the design and
construction of the Grapevine Main Station; and
WHEREAS, the City has concluded that it does not currently desire to issue
obligations to finance the costs associated with the contract; and
WHEREAS, the City desires to reimburse itself for the costs associated with the
contract from the proceeds of obligations to be issued subsequently to the date hereof; and
WHEREAS, the City reasonably expects to issue obligations to reimburse itself for
the costs associated with the contracts; and
WHEREAS, all constitutional and statutory prerequisites for the approval of this
resolution have been met, including but not limited to the Open Meetings Act; and
WHEREAS, the City Council deems the adoption of this resolution to be in the best
interests of the health, safety, and welfare of the public.
NOW,THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS:
Section 1. That all matters stated hereinabove are found to be true and correct
and are incorporated herein by reference as if copied in their entirety.
Section 2. That the City reasonably expects to reimburse itself for the costs that
have been or will be paid subsequent to the date that is 60 days prior to the date hereof
and that are to be paid in connection with the design and construction of the Grapevine
Main Station from the proceeds of obligations to be issued subsequent to the date hereof.
Section 3. That the City reasonably expects that the maximum principal amount
of obligations, issuance costs and the costs incurred to reimburse the City for contracts is
estimated to be $38,045,000.00.
Section 4. That this resolution shall take effect from and after the date of its
passage.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 21st day of November, 2017.
APPROVED:
William D. Tate
Mayor
ATTEST:
Tara Brooks
City Secretary
APPROVED AS TO FORM:
John F. Boyle, Jr.
City Attorney
Ordinance No. 2017-091 2
ORDINANCE NO. 2017-079
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS;APPROPRIATING$12,000,000 IN THE
CVB FUND AND TRANSFERING FUNDS TO THE 177
CAPITAL PROJECTS GENERAL FACILITY FUND;
APPROPRIATING $10,000,000 IN THE ECONOMIC
DEVELOMENT CAPITAL FUND AND TRANSFERING FUNDS
TO THE 177 CAPITAL PROJECTS GENERAL FACILITY
FUND; APPROPRAITING$77,045,000 IN THE 177 CAPITAL
PROJECTS GENERAL FACILITY FUND FOR THE
GRAPEVINE MAIN STATION DESIGN AND
CONSTRUCTION; DECLARING AN EMERGENCY AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council of the City of Grapevine desires to design and
construct the Grapevine Main Station; and
WHEREAS, funding of$12,000,000 is available in the CVB Fund undesignated fund
balance; and
WHEREAS, funding of $10,000,000 is available in the Economic Development
Capital Fund undesignated fund balance; and
WHEREAS, funding of$7,000,000 was appropriated in the FY17 Adopted Budget
for the purpose of funding the Grapevine Main Station; and
WHEREAS, TEXRaiI has committed to contributing $20,000,000 to the project; and
WHEREAS, the City intends to issue $33,045,000 in obligations to provide project
financing; and
WHEREAS, constitutional and statutory prerequisites for the approval of this
ordinance have been met, including but not limited to the Open Meetings Act; and
WHEREAS, the City Council deems the adoption of this ordinance is in the best
interests of the health, safety, and welfare of the public.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS:
Section 1. That all matters stated hereinabove are found to be true and correct
and are incorporated herein by reference as if copied in their entirety.
Section 2. That the City Council hereby appropriates $12,000,000 in the CVB
Fund and transfers the amount from the CVB Fund to the Capital Projects General Facility
Fund.
Section 3. That the City Council hereby appropriates $10,000,000 in the
Economic Development Capital Fund and transfers the amount from the Economic
Development Capital Fund to the Capital Projects General Facility Fund.
Section 4. That the City Council hereby appropriates $77,045,000 in the 177
Capital Projects General Facility Fund.
Section 5. That the terms and provisions of this ordinance shall be deemed to be
severable, and that if the validity of any section, subsection,word, sentence or phrase shall
be held to be invalid, it shall not affect the remaining part of this ordinance.
Section 6. That the fact that the present ordinances and regulations of the City of
Grapevine, Texas are inadequate to properly safeguard the health, safety, morals, peace
and general welfare of the inhabitants of the City of Grapevine, Texas, creates an
emergency for the immediate preservation of the public business, property, health, safety,
and general welfare which requires that this ordinance shall take effect immediately from
and after its passage and it is accordingly so ordained.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 21st day of November 2017.
APPROVED:
William D. Tate
Mayor
ATTEST:
Tara Brooks
City Secretary
APPROVED AS TO FORM:
John F. Boyle, Jr.
City Attorney
Ordinance No. 2017-079 2