BHPFC Resolution No. 8RESOLUTION NO. 8
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN
HOSPITALITY PUBLIC FACILITIES CORPORATION APPROVING A 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 HOSPITALITY
PUBLIC FACILITIES CORPORATION:
Section 1: That the Board of Directors of the Baytown Hospitality Public Facilities
Corporation hereby approving a 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 Hospitality Public Facilities Corporation.
INTRODUCED, READ and PASSED by the affirmative vote of the Board of Directors of the
Baytown Hospitality Public Facilities Corporation, this the 9"' day of April, 2020. �
BRA ON CAPETILLO, PAsident
A ST:
ETICIA BRYSCH, istant Secretary
APPROVED AS TO FORM:
fJGNACIO RAMIREZ, SR., Gene al .ounsel
llcobfs011legallKarenTileslCity Council\PFC Resolution\2020\April %Approving HoteICC Budget.doc
Exhibit "A"
Design Build Contractor
Owner's Construction Contingency (hold for construction)
3/3/2020
$ 27,629,021 $ 14,294,229 $ 41,923,250
S 672,444 $0 $ 672,444
FF&E/OS&E/IT/Equipment
FF&E
$
4,128,577
$
1,625,257
$
5,753,834
OS&E
$
1,395,342
$
1,045,090
$
2,440,432
IT
$
861,616
$
407,744
$
1,269,360
Kitchen/Laundry Equipment
$
877,073
$
196,888
$
1,073,961
Soft Costs (Net of Financing and Working Capital
Site
Land
$
1
$
0
$
1
Due Diligence / Market studies
$
51,000
$
-
$
51,000
Survey, Geotech,etc
$
24,960
$
14,040
$
39,000
Title Policy
$
-
$
-
$
-
Design Fees
Architectural and Engineering Fees
$
2,331,163
$
1,047,761
$
3,378,924
DPR Design Team management fee (1.2%)
$
28,009
$
13,339
$
41,348
KPFF (tower structure design)
$
65,000
$
65,000
Fee Contingency
$
95,979
$0
$
95,979
Inspections
3rd Party Testing & Inspection
$
136,600
$
84,400
$
221,000
3rd party fire life safety and commisioning
$
108,000
$
72,000
$
180,000
Other Soft Costs
Brand, Technical Service and Construction Services Fees
$
150,000
$
100,000
$
250,000
Brand Application Fee
$
87,400
$
-
$
87,400
Pre -Opening Budget
$
898,622
$
888,748
$
1,787,370
Legal Fees
$
176,000
$
99,000
$
275,000
Property Taxes during Construction
$
-
$
-
$
-
City Permit, Impact and Tap Fees
$
131,083
$
87,389
$
218,472
GPP Developer Fees
$
1,448,211
$
964,660
$
2,412,871
Cedar Trinity (come out of the addl $235,400 Dev. Fee)
$
32,400
$
21,600
$
54,000
GPP accrued reimbursable expenses / ongoing developer travel
$
21,090
$
11,861
$
32,951
Construction Manager
$
219,638
$
124,922
$
344,560
Developer's Insurance
$
71,928
$
1,072
$
73,000
Project Contingency (owner's)
$
935,640
$0
$
935,640
Total Soft Costs
$
7,012,724
$
3,530,792
$
10,543,516
Subtotal Net of Financing & Working Capital
$
42,576,796
$
21,100,000
$
63,676,797