Res 080-2017 6/6/2017Resolution No. 80-2017
Resolution approving the programs and expenditures of the Wichita
Falls Economic Development Corporation (WFEDC) and amending
the budget to include up to $497,500 for partial costs associated with
parking lot additions on the MPEC grounds as part of the
Hotel/Conference Center Project
WHEREAS, Texas Local Gov't. Code § 501.073(a) provides "The corporation's
authorizing unit will approve all programs and expenditures of a corporation and
annually review any financial statements of the corporation"; and,
WHEREAS, on May 18, 2017, the WFEDC approved the Project listed below
and as stated in its agenda.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
1. The Wichita Falls Economic Development Corporation's approval and funding
of the following programs and expenditures as described below and in said
corporation's agenda, are approved:
Funding up to $497,500 for partial costs associated with parking lot
additions on the grounds of the Multi -Purpose Events Center as part
of the Hotel/Conference Center Project.
2. The current fiscal year budget of the WFEDC is amended to provide for the
aforementioned expenditures and changes thereto.
PASSED AND APPROVED this the 6th day of June, 2017.
ATTEST:
City bl6rk
Not to Scale
WICHITA FALLS ECONOMIC DEVELOPMENT
CORPORATION AGENDA
18 May 2017
ITEM/SUBJECT: Downtown Conference Center Parking Lot Funding
INITIATED BY: Jim Dockery
ATTACHED:
COMMENTARY: The City isasking4A to finance 50% of the estimated cost to construct the
additional parking needs for the hotel/conference center. 4B has already agreed to fund the
$85,000 for the design and that work is underway. It is anticipated project construction will be
$995,000, but this does have $200,000 of contingency, so the actual cost may end up being less
than the budget request of $497,500. Please keep in mind even though this is just a parking lot,
it is necessary for the entire project which involves approximately $20 million of private
investment, and an estimated economic impact of $74 million over the next 10 years. Much of
that impact will be felt in the way of primary construction jobs over the first 16 months after
construction begins.
From Biggs; and Mathews:
Russell As per your request, please find the following information & budget estimates for the
two design/construction options for the proposed additions to the MPEC parking facility:-
Proposed Parking Facility (DesiLyn/Construction Option-1)
General, Project Description Design/construct; two new parking facilities with
approximately 175-185 total parking spaces. The first parking facility (approximately 135
140 parking spaces) will be located along the west side of North Burnett Street, between
3rd Street and O Street. In additional, this parking facility shall be designed to accommodate
future expansion (approximately 150-155 future parking spaces). The second parking facility
(approximately 40-45 parking spaces) will be located near the intersection of Lamar Street
and 2 dStreet.
• Mobilization, Insurance, & Bonding'= $40,000.00
• General Site Preparation/Demolition= $25,000.00`
• New 6" Reinforced Concrete Pavement (No. 4 Bars @ 18" OCEW or No.3 Bars @ 12"`
OCEW) $555,000.00
o Note; Each parking facility shall be designed to surface drain to existing;
drainage facilitiesand/or adjacent streets (public ROW). No Detention will
be required by the CWF.
• Typical Site Lighting, Irrigation, &Landscaping = $90,000.00,
o Note: The proposed site lighting, irrigation, & landscaping for each of
parking facility shall be similar to that of existing MPEC+parking sfacilities.
• 3rd Street Paving &'Curb/Gutter Improvements =$20,000.00
• 4 h Street Paving & Curb/Gutter Improvements $50,000.00
• Burnett Street Paving & Curb/Gutter Improvements S15,000.00
Total Estimated Construction Cost= $795,000.00
Contingencies = 5200,000.00
Engineering Fee = $85, 000.00
Total Budget Estimate= $1,080,000.00
CONCLUSION: The Downtown Conference Center is the cornerstone of a renewed downtown
revitalization effort and will allow for new and larger conferences to come to Wichita Falls. The
funding of the additional parking facilities by the 4a and 4b Boards is imperative if this project is
to move forward.