BHPFC Resolution No. 11RESOLUTION NO. 11
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN
HOSPITALITY PUBLIC FACILITIES CORPORATION REPEALING RESOLUTION
NO. 8, WHICH APPROVED A BUDGET FOR THE BAYTOWN HOTEL AND
CONVENTION CENTER PROJECT; APPROVING A REVISED BUDGET FOR THE
BAYTOWN HOTEL AND CONVENTION CENTER PROJECT IN ACCORDANCE
WITH THE DEVELOPMENT MANAGEMENT AGREEMENT; 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 repeals Resolution No. 8, which approved a budget for the Baytown Hotel and
Convention Center Project and was adopted on April 9, 2020.
Section 2: That the Board of Directors of the Baytown Hospitality Public Facilities
Corporation hereby approves a revised budget for the Baytown Hotel and Convention Center Project in
accordance with the Development Management Agreement. A copy of said budget 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
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 4th day of March, 2021.
B DON CAPETILLO, Pres ent
AT ST:
LETICIA BRYSCH, Assist nt ecretary
APPROVED AS TO FORM:
r
r
rr
KAREN L. HORNER, General Counsel
RAKaren Homer\Documents\Files\City CouncitTFC\Resolution\202 RMarch 4Wpproving HoteICC Budget.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
F F&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
-Working
Soft Costs (Net of Financing and 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 (owner's)
$
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