MDD Resolution No. 359RESOLUTION NO. 359
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN
MUNICIPAL DEVELOPMENT DISTRICT APPROVING THE BUDGET FOR
THE BAYTOWN HOTEL CONVENTION CENTER PROJECT; AND
PROVIDING FOR THE EFFECTIVE DATE THEREOF.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE BAYTOWN
MUNICIPAL DEVELOPMENT DISTRICT:
Section 1: That the Board of Directors of the Baytown Municipal Development
District hereby approves the budget for the Baytown Hotel Convention Center Project. A copy
of said budget is attached hereto as Exhibit "A," and incorporated herein for all intents and
purposes.
Section 2: This resolution shall take effect immediately from and after its passage by
the Board of Directors of the Baytown Municipal Development District,,f
INTRODUCED, READ and PASSED by the affirmative a of the Board of Directors
of the Baytown Municipal Development District, this the IP da0f September, 2018.
ST PHEN-i.DOr
ATT T:
L TICIA BRYSCH, Assis t Secretary
APPROVED AS TO FORM:
40NACIO RAMIREZ, SRO&neiral Counsel
CARLOS,
'• cobfs0I IegeNmren files city councihmunicipal development district\resolutions120181september mild resolution for budget for the baytown hotel convention center project. doc
Change Order Reserve (for IGMP)
Exhibit "A"
456,937
$
500,993
$
957,930
Construction Contingency (hold of construction)
$
336,888
$
335,556
$
672,444
Baytown Hotel and Conference
Center
Conceptual
Development
165,139
Budget
326,953
FF&E/OS&E/IT/Equipment
$
23,400
$
15,600
9/7/2018
39,000
FF&E
,Total
•
3,228,577
..�
1,775,257
$
5,003,834
OS&E
$
1,185,342
Construction -General Contractor
$
19,875:366
$
11,365.948
$
31,241,314
Site Work & Landscaping
$
569,352
$
854,028
$
1,423,380
Parking
$
-
$
1.467,934
$
1,467,934
Contractor Contingency
$
609,181
$
395.469
$
1,004,650
CGL Insurance & Builders Risk
$
548,263
$
355,922
$
904,185
Hazardous Material Insurance
$
102,000
$
68,000
$
170,000
Payment & Performance Bond
$
140,000
$
131,700
$
271,700
$
$
21,844,162
$
14,639,000
$
36,483,162
Signage (Interior)
$
90,000
$
60,000
$
150,000
Change Order Reserve (for IGMP)
$
456,937
$
500,993
$
957,930
Construction Contingency (hold of construction)
$
336,888
$
335,556
$
672,444
Contract Escalation (for IGMP)
$
161,814
$
165,139
$
326,953
FF&E/OS&E/IT/Equipment
$
23,400
$
15,600
$
39,000
FF&E
$
3,228,577
$
1,775,257
$
5,003,834
OS&E
$
1,185,342
$
1,045,090
$
2,230,432
IT
$
551,616
$
367,744
$
919,360
Kitchen/Laundry Equipment
$
477,073
$
396,888
$
873,961
Fee Contingency
$
91,187
$
60,792
$
151,979
Site
Land
$
1
$
0
$
1
Due Diligence / Market studies
$
51,000
$
-
$
51,000
Survey, Geotech,etc
$
23,400
$
15,600
$
39,000
Title Policy
$
-
$
-
$
-
Design Fees
$
395,622
$
388,748
$
784,370
Architectural and Engineering Fees
$
1,652,150
$
1,101,433
$
2,753,583
KPFF (tower structure design)
$
65,000
$
-
$
65,000
Fee Contingency
$
91,187
$
60,792
$
151,979
Inspections
3rd Party Testing & Inspection
$
126,600
$
84,400
$
211,000
Other Soft Costs
Brand, Technical Service and Construction Services Fees
$
306,137
$
204,091
$
510,228
Brand Application Fee
$
87,400
$
-
$
87,400
Pre -Opening Budget
$
395,622
$
388,748
$
784,370
Legal Fees
$
165,000
$
110,000
$
275,000
Property Taxes during Construction
$
-
$
-
$
-
City Permit, Impact and Tap Fees
$
125,083
$
83,389
$
208,472
GPP Developer Fees
$
1,339,371
$
892,100
$
2,231,471
GPP accrued reimbursable expenses / ongoing developer travel
$
32,951
$0
$
32,951
Construction Manager
$
193,536
$
129,024
$
322,560
Developer's Insurance
$
43,800
$
29,200
$
73,000
Project Contingency (owner's)
$
596,621
$
397,748
$
994,369
Total Soft Costs
$
5,294,858
$
3,496,525
$
8,791,384
Subtotal Net of Financing & Working Capital
$
33,627,267
$
22,782,193
$
56,409,460