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HomeMy WebLinkAboutRES 2001-029 RESOLUTION NO. 2001-29 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS ESTABLISHING COMPREHENSIVE POLICY STATEMENTS ON LOCAL ECONOMIC DEVELOPMENT AND BUSINESS INCENTIVES AND PROVIDING AN EFFECTIVE DATE WHEREAS, Texas Local Government Code, Chapter 380 provides that a governing body of a municipality may establish and provide for the administration of one or more programs, including programs for the making of loans and grants of public money and providing personnel and services of the municipality, to promote state or local economic development and to stimulate business and commercial activity in the municipality; and WHEREAS, the Grapevine City Council wishes to establish an incentive program under Texas Local Government Code, Chapter 380 to provide a program that will encourage a company to locate within the City and construct a "Destination Hotel and Convention Center"; and WHEREAS, guidelines for the new business incentives are outlined in Exhibit "A" attached; and WHEREAS, the incentives provide a procedure and method by which public improvements can be built utilizing expedited and concurrent bidding and construction procedures concurrently and simultaneously with construction of a "Destination Hotel and Convention Center". NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS: Section 1. That all matters stated in the preamble are found to be true and correct and are herein incorporated into the body of this resolution as if copied in their entirety. Section 2. That the City Council hereby approves the Policy Statement on local economic development and business incentives attached hereto and labeled Exhibit "A". Section 3. That this resolution shall become effective immediately from and after its passage and approval by the City Council. PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAPEVINE, TEXAS on this the 5th day of June, 2001. APPROVED: William D. Tate Mayor ATTEST: 41# ••, C. Brown istant City Secretary APPROVED AS TO FORM: John F. Boyle, Jr. City Attorney RES. NO, 2001-29 2 EXHIBIT. . TO 4 - y EXHIBIT A Page ---L— of / Chapter 380, Texas Local Government Code CITY OF GRAPEVINE POLICY STATEMENT ON LOCAL ECONOMIC DEVELOPMENT AND BUSINESS INCENTIVES FOR EXPEDITED AND CONCURRENT BIDDING AND CONSTRUCTION PROCEDURES GENERAL PURPOSE The City of Grapevine is committed to the promotion of quality development and expansion of its existing business base. The City Council wishes to create an economic development policy program by creating incentives to remain competitive in the marketplace, as well as retain or increase high value inventories and acquire and install new equipment and other personal property in the City. Pursuant to this facet of the City's incentive package, the City of Grapevine will, on a case by case basis, give consideration to providing economic incentives to those corporate citizens meeting the guidelines contained in this document. It is the policy of the City of Grapevine that said consideration will be provided in accordance with the guidelines, criteria, and procedures outlined in this document. Nothing herein shall imply that the City is under any obligation to provide economic incentives to any requestor. Nothing herein shall prohibit the City Council from waiving or modifying the criteria to further the objectives of this policy. A. Threshold Requirements To Be Eligible for Expedited and Concurrent Bidding and Construction Procedures 1. Conditions and Requirements a) Any request for Expedited and Concurrent Bidding and Construction Procedure shall be reviewed by the City Council. All requests will be analyzed to determine the total revenue stream generated by the company, job creation, projected tourism, ad valorem, sales, liquor, franchise, and hotel taxes and cost of providing municipal services to the company's business. b) The threshold for consideration of granting Expedited and Concurrent Bidding and Construction Procedure is an agreement to construct a 1,500 room major project hotel and a convention center containing at least 350,000 square feet.(the Project, including both Public and Private improvements.) EXHIBIT, A , TO Page __al_ of , c) The Applicant shall own the Project or have a new or renewable lease for a minimum of twenty (20) year term for a Project located in Grapevine. B. Basic Principles of Expedited and Concurrent Bidding and Construction Procedures In the event the applicant meets the threshold requirements and the City Council, solely at its discretion, approves the Project, the program, which shall be incorporated into an Agreement between Applicant and the City, shall include the following minimum requirements. 1. City shall review and approve all construction plans, public and private, for compliance with appropriate City, State and Federal ordinances, resolutions, laws, and rules. 2. Applicant shall provide a construction schedule indicating the commencement and completion of the Project. 3. All contract documents between Applicant and its General Contractor for proposed Public Improvements shall be reviewed and approved by the City. 4. City shall review and be satisfied with insurance requirements which name City as additional insured and indemnities received from both the applicant and the general contractor. 5. City shall review and approve amount of the bid for Public Improvements and the contract or contracts for the Public Improvements.. 6. City shall review and approve all bonding requirements, including performance, payment, and maintenance bonds or any proposed alternatives. City Attorney for City may request and receive a legal opinion from acceptable Texas counsel that the alternative form of insurance is customary and acceptable in the trade; that any alternative form of insurance in lieu of statutory Bonds are valid and provide at least the same protection for the City as the statutory performance, payment and maintenance bonds. 7. Both the City's regular Building Inspector and the City's special hotel/convention center Inspector shall review and approve all phases and aspects of construction of the Public Improvements. 2 EXHIBIT. A To -/), a40/-,)/ Pao of —J.-- 8. All requests for payment from the tax increment financing fund (TIF Funds) of the City and change orders shall be reviewed and approved by the City. 9. City shall be satisfied with the requirements for as-builts, plans, lien releases and certifications as to payment of all subcontractors and materialmen as a condition for final payment for the Public Improvements. 10. City shall review the Project and be satisfied that all requirements of the contract documents have been satisfied as a condition for final payment and acceptance of the Project. 11. Applicant's general contractor and City shall meet on site on a regular basis to review construction status of Project. 12. The parties shall develop an acceptable written procedure for communicating with Corps of Engineers. 13. City management, finance director and director of public works may impose additional reasonable requirements to be included within the Agreement to insure timely completion within the date of scheduled completion and within the budget. 3