R-09-07-09-9C1 - 7/9/2009RESOLUTION NO. R -09-07-09-9C1
WHEREAS, the City of Round Rock ("City") has previously entered
into a Developer Commitment Agreement with Avery Center Devco, Inc.
("Agreement") regarding the expansion of North A.W. Grimes Boulevard
(FM 1460), and
WHEREAS, the City Council now wishes to enter into a First
Amendment to the Agreement to modify certain terms and conditions,
Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS,
That the Mayor is hereby authorized and directed to execute on
behalf of the City, a First Amendment to the Developer Commitment
Agreement with Avery Centre Devco, Inc., a copy being attached
hereto as Exhibit "A" and incorporated herein for all purposes.
The City Council hereby finds and declares that written notice
of the date, hour, place and subject of the meeting at which this
Resolution was adopted was posted and that such meeting was open to
the public as required by law at all times during which this
Resolution and the subject matter hereof were discussed, considered
and formally acted upon, all as required by the Open Meetings Act,
Chapter 551, Texas Government Code, as amended.
RESOLVED this 9th day of July, 2009.
ALAN MCGRAW, Mayor
City of Round Rock, Texas
SARA L. WHITE, City Secretary
0:\wdox\SCC1nts\0112\0905\MUNICIPAL\R90709C1.DOC/rmo
FIRST AMENDMENT TO
DEVELOPER COMMITMENT AGREEMENT
EXHIBIT
"An
This First Amendment to DEVELOPER COMMITMENT AGREEMENT ("First
Amendment") is made by and between AVERY CENTER DEVCO, INC., a Texas corporation
(hereinafter called the "Developer"), and the CITY OF ROUND ROCK, TEXAS, (hereinafter called
"City"), both acting by and through their duly authorized officials.
WITNES SETH:
WHEREAS, the City and Developer entered into a Developer Commitment Agreement (the
"Agreement") effective May 28, 2009, setting forth various agreements and understandings with
respect to certain cost obligations regarding the construction of the widening of FM 1460 from a
two-lane roadway to a four -lane roadway (the "Project), and
WHEREAS, the Agreement required the Developer to contribute fifty percent of Project Costs (the
"Developer Participation"), as defined therein, up to $5,000,000, and
WHEREAS, the Agreement specified that Developer was to pay $3,000,000 of the Developer
Participation at least 70 days prior to the date set by TxDOT for receipt of construction bids for the
Project, with the balance of the Developer Participation due within 10 days following the award of
the contract by TxDOT, and
WHEREAS, the Developer has remitted $2.3 million of the Developer Participation to the City, and
WHEREAS, the Developer has requested that the balance of the Developer Participation shall be due
upon award of the construction contract for the Project,
NOW, THEREFORE, in consideration of the premises set forth above and of the mutual covenants
and agreements of the parties hereto, to be by them respectively kept and performed as hereinafter set
forth, Developer and the City do agree as follows:
AGREEMENT
Article 1. Amendment
That Article 2 of the Agreement shall be amended to read as follows:
Developer Participation.
Developer agrees to pay to the City the Developer Participation as provided below.
The Developer has remitted Two Million Three Hundred Thousand Dollars ($2,300,000) to
the City. Within ten (10) days following the award of the contract by TxDOT, the Developer shall
remit to the City the balance of the Developer Participation.
00165012 Page 1 of 2
Article 2. Agreement Remains in Full Force and Effect.
The Agreement shall remain in full force and effect in accordance with its original terms and
provisions, which shall be deemed to be confirmed ratifies and approved.
IN WITNESS WHEREOF, DEVELOPER AND THE CITY have executed duplicate counterparts to
effectuate this Agreement.
AVERY CENTER DEVCO, INC.
By:
By:
THE CITY OF ROUND ROCK, TEXAS
By:
Date:
00165012 Page 2 of 2
DATE: July 1, 2009
SUBJECT: City Council Meeting —July 9, 2009
ITEM: 9C1. Consider a resolution authorizing the Mayor to execute a First Amendment to
the Developer Commitment Agreement with Avery Center Devco, Inc. for the
expansion of north A.W. Grimes Boulevard (FM 1460).
Department:
Staff Person:
Justification:
Transportation Services
Tom Word, Chief of Public Works
On May 28, 2009, the City of Round Rock entered into an agreement with Avery Center Devco, Inc.
regarding the construction of the widening of north A.W. Grimes Boulevard (FM 1460). The agreement
required that the Developer to contribute 500 of the project costs and defined that as $5,000,000.
The developer was to pay the City of Round Rock $3,000,000 up front with the balance due within 10
days after the award of the construction contract by TxDOT.
This amendment changes the deposit amount to $2,300,000 with the balance due within 10 days after
the award of the construction contract by TxDOT. The developer has already remitted the $2,300,000 to
the City.
Funding:
Cost: N/A
Source of funds: N/A
Outside Resources: N/A
Background Information: N/A
Public Comment: N/A
EXECUTED
DOCUMENT
FOLLOWS
FIRST AMENDMENT TO
DEVELOPER COMMITMENT AGREEMENT
This First Amendment to DEVELOPER COMMITMENT AGREEMENT ("First
Amendment") is made by and between AVERY CENTER DEVCO, INC., a Texas corporation
(hereinafter called the "Developer"), and the CITY OF ROUND ROCK, TEXAS, (hereinafter called
"City"), both acting by and through their duly authorized officials.
WITNESSETH:
WHEREAS, the City and Developer entered into a Developer Commitment Agreement (the
"Agreement") effective May 28, 2009, setting forth various agreements and understandings with
respect to certain cost obligations regarding the construction of the widening of FM 1460 from a
two-lane roadway to a four -lane roadway (the "Project), and
WHEREAS, the Agreement required the Developer to contribute fifty percent of Project Costs (the
"Developer Participation"), as defined therein, up to $5,000,000, and
WHEREAS, the Agreement specified that Developer was to pay $3,000,000 of the Developer
Participation at least 70 days prior to the date set by TxDOT for receipt of construction bids for the
Project, with the balance of the Developer Participation due within 10 days following the award of
the contract by TxDOT, and
WHEREAS, the Developer has remitted $2.3 million of the Developer Participation to the City, and
WHEREAS, the Developer has requested that the balance of the Developer Participation shall be due
upon award of the construction contract for the Project,
NOW, THEREFORE, in consideration of the premises set forth above and of the mutual covenants
and agreements of the parties hereto, to be by them respectively kept and performed as hereinafter set
forth, Developer and the City do agree as follows:
AGREEMENT
Article 1. Amendment
That Article 2 of the Agreement shall be amended to read as follows:
Developer Participation.
Developer agrees to pay to the City the Developer Participation as provided below.
The Developer has remitted Two Million Three Hundred Thousand Dollars ($2,300,000) to
the City. Within ten (10) days following the award of the contract by TxDOT, the Developer shall
remit to the City the balance of the Developer Participation.
CL First Amendment Developer Agreement for 1460 (00165012).DOC Page 1 of 2
ti'c o1 (Pt - q(1
Article 2. Agreement Remains in Full Force and Effect.
The Agreement shall remain in full force and effect in accordance with its original terms and
provisions, which shall be deemed to be confirmed ratifies and approved.
IN WITNESS WHEREOF, DEVELOPER AND THE CITY have executed duplicate counterparts to
effectuate this Agreement.
AVERY CENTER DEVCO, INC.
*Ze"
By:
By:
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THE
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THE CITY OF ROUND ROCK, TEXAS
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CL First Amendment Developer Agreement for 1460 (00165012).DOC
Page 2 of 2