Loading...
CC Resolution No. 2,706RESOLUTION NO. 2,706 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS, REPEALING RESOLUTION NO. 2648, WHICH APPROVED A BUDGET FOR THE BAYTOWN CONVENTION CENTER PROJECT; APPROVING A REVISED BUDGET FOR THE BAYTOWN CONVENTION CENTER PROJECT; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. ****************************************************************************** BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS: Section 1: That the City Council of the City of Baytown, Texas, hereby repeals Resolution No. 2648, which approved a budget for the Baytown Convention Center Project in accordance with the Development Management Agreement and was adopted on April 9, 2020. Section 2: That the City Council of the City of Baytown, Texas, hereby approves a revised budget for the Baytown Convention Center Project in accordance with the Development Management Agreement, which is attached hereto as Exhibit "A" and incorporated herein for all intents and purposes. Section 3: This resolution shall take effect immediately from and after its passage by the City Council of the City of Baytown. INTRODUCED, READ and PASSED by the affirmative vote of the City Council of the City of Baytown this the 41h day of March, 2021( n 12. NDON CAPETILT5,1tayor ATTEST: APPROVED AS TO FORM: �1JLJ_ KAREN L. HORNER, City Attorney �epYTOyVj,�i�'`'� , • 2 e F0F 1e- RAKaren Homer\Documents\FiteslCity Counc&ResolutionO021'•.March 4Wpprovebudget4BaytownConventionCenterProject.doc Exhibit "A" Design Build Contractor- Hotel/Convention Project $ 28,847,476 $ 14,898,065 $ 43,745,541 Lift Station $ 2,400,000 $ 2,400,000 Utilities $ 600,000 $ 600,000 Contingency $ 298,000 $ 298,000 Owner's Construction Contingency (hold for construction) $ 672,444 $0 $ 672,444 FF&E/OS&E/IT/Equipment Furniture Fixtures & Equipment $ 4,199,118 $ 1,660,216 $ 5,859,334 Operating Supplies &Equipment $ 1,470,230 $ 1,082,202 $ 2,552,432 IT Equipment $ 956,696 $ 454,864 $ 1,411,560 Kitchen/Laundry Equipment $ 1,100,492 $ 307,607 $ 1,408,099 Soft Costsof • and Working Capital Site Land $ 1 $ - $ 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 $ 2,454,527 $ 1,108,897 $ 3,563,424 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 $ 1,594,491 $ 1,010,392 $ 102,000 $ 2,706,883 Cedar Trinity $ 32,400 $ 21,600 $ 54,000 GPP accrued reimbursable expenses / ongoing developer travel $ 21,090 $ 11,861 $ 32,951 Construction Manager $ 263,517 $ 146,668 $ 410,185 Developer's Insurance $ 71,928 $ 1,072 $ 73,000 Project Contingency (owners) $ 977,374 $0 $ 977,374 Total Soft Costs $ 7,367,981 $ 3,659,406 $ 102,000 $ 11,129,387 Subtotal Net of Financing & Working Capital $ 44,614,437 $ 22,062,360 $ 3,400,000 $ 70,076,797 revision date 02-26-202