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HomeMy WebLinkAbout19690 ORD - 03/31/1987AN ORDINANCE AUTHORIZING THE EXECUTION OF A CONTRACT WITH LAVENTHOL & HORWATH FOR AN ECONOMIC IMPACT STUDY REGARDING THE RE -OPENING OF PACKERY CHANNEL; APPROPRIATING $45,000; AND DECLARING AN EMERGENCY. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. That the City Manager is hereby authorized to execute a contract with Laventhol & Horwath for an economic impact study regarding the re -opening of Packery Channel at a cost not to exceed $45,000, containing substantially the conditions attached as Exhibit A. SECTION 2.- That there is hereby appropriated $45,000 from the Economic Development Trust Fund for said purposes. SECTION 3. That upon written request of the Mayor or five Council members, copy attached, to find and declare an emergency due to the need of executing the abovementioned contract at the earliest practicable date, such finding of an emergency is made and declared requiring suspension of the Charter rule as to consideration and voting upon ordinances or resolutions at three regular meetings so that this ordinance is passed and shall take effect upon first re4ding as an ,em rgency measure this the Z5I day of nr.rN , 19 ATTEST: Ci y Secretary MAYOR APPROVED: 3I DAY OF /'a✓c , 19 $-7 HAL GEORGE, CITY ATTORNEY By As ant City Attq j ney 04P.058.01 THE CITY OF CORPUS CHRISTI, TEXAS 19620 MICROFILMED SCOPE OF SERVICES LAVENTHOL & HORWATH AN ECONOMIC IMPACT ANALYSIS OF THE RE -OPENING OF THE PACKERY CHANNEL FOR THE CITY OF CORPUS CHRISTI, TEXAS I. Scope of Services - Task Description Laventhol & Horwath will conduct the work program in three phases. Phase I will analyze on a preliminary basis the economic impact of the re -opening of the Packery Channel. Phases II and III will result in a detailed economic and fiscal impact study and documentation of our findings. Descriptions of each task follow. Phase I - Preliminary Economic Analysis Task I: Meet with City Staff/Orientation - introduce team, define the specific scope of work, scheduling, identify liaison staff and participant responsibilities. Task 2: Analyze Market Potential - determine current market area supply characteristics, evaluate proposed and/or potential projects, project future market demand for specific land uses. Task 3: Assess Physical Framework for Development - inventory existing physical conditions in the study area using existing data and additional surveys where required, perform visual analysis, and assess ability of area to accommodate new development. Task 4: Preliminary Economic Analysis of Packer Channel - analyze the economic impact of the channel re -opening on tourism and its stimulative effect on new development and/or redevelopment. These two base impacts are interrelated and will be the prerequisites for other economic impacts such as new employment and increased revenue to the city. We will meet with city staff to present the results of the preliminary economic analyses. Phase II - Economic and Fiscal Impact Study Task 1: Identify and Quantify Primary Costs/Revenues - based on the development strategy selected, analyze costs/revenues directly related to the re -opening of the Packery Channel in the study area. Task 2: Identify and Quantify Secondary Costs/Revenues - analyze costs/revenues indirectly related to the re -opening of the Packery Channel, i.e. outside the study area. 04P.058.01 Task 3: Prepare Economic and Fiscal Impact Analysis - we will conduct economic and fiscal impact analyses for the study area and for the city as a whole. This analysis will not include an environmental impact analysis. At the end of this phase we will meet with the city staff and present our findings to date. Phase III - Final Report and Presentation Task 1: Prepare Final Report and Present Findings - prepare a final written report containing a discussion of methodology, a summary of our findings, and the prospective economic and fiscal impact of the reopening of the Packery Channel on the City of Corpus Christi. Fifteen (15) copies of the final report will be prepared. We will also present our findings to the City. II. Project Management and Project Team Our project management approach is to clearly define roles and responsibilities for all project participants. Key features are: . The assignment of senior professionals with extensive market and financial analysis, planning, design and development skills. Our key project staff are based in Houston and Chicago and have working experience with the City of Corpus Christi. We recommend the establishment of a city review team to assure ongoing communications, review and input to the consulting team. The use of in-house computer applications to generate consistent portrayals of the financial performance of development alternatives. Regular reporting and scheduled progress—meetings as outlined in Phases I through III. The Project Team We have structured a multi -disciplinary team for the engagement. Laventhol & Horwath proposes to subcontract with Trkla, Pettigrew, Allen & Paine, a Chicago based development management and urban revitalization consulting firm with a broad base of public/private sector experience. They will participate in specific tasks which will be detailed in their subcontract agreement with us. We are enclosing resumes of the key L & H staff to be involved in this engagement. Our key management personnel are: - Mr. John Rossi will be responsible for the overall management and the direction of the project. He is Director of Real Estate Advisory Services in the Houston office of L & H. Mr. Rossi will be the Firm's point of contact in terms of management and resource allocation for the project. 04P.058.01 Ms. Rita J. Ellison will serve as project manager and will have responsibility for the day-to-day operational management for the project. Ms. Ellison is based in our Houston office. III. Fees and Timing We have structured our fees based on the time necessary the work as outlined. Our professional fees for the scope of work are estimated as follows: I - II - III - Phase Preliminary Economic Analysis Economic and Fiscal Impact Study Final Report and Presentation Fee Estimate $20,000 15,000 5,000 to complete as outlined Total Professional Fees $40,000 We estimate that the engagement can be completed within 16 weeks from your authorization to proceed. Travel, subsistence, telephone, computer processing, typing, graphics, report production and other out-of-pocket expenses are not included in this fee and will be billed separately. These expenses will not exceed $5,000. Our fee is subject to upward revision if problems are encountered that are unforeseeable at the commencement of the engagement or if the scope of work should be changed. If unusual matters come to our attention that warrant additional work in excess of the above amount, we will discuss the matter with you and will not exceed the stated fee without your prior approval. It is our standard policy to require an advance retainer of 60 percent of the estimated fees which is payable before we initiate work; however, we are proposing to waive this requirement. Fees and expenses will be billed every two weeks as the work progresses, and our invoices are payable upon presentation. If, at some point during the course of our study, our findings lead us to a conclusion that the project is not feasible, we will advise and meet with you to discuss this matter. If a decision is made to discontinue our study, our fees would be computed based on time and expenses expended to that date. IV. Other Conditions Our study will not ascertain the legal and applicable to the proposed project, including zoning government regulations, permits and licenses other than of work. No effort will be made to determine the proposed project of present or future federal, state or environmental or ecological matters. Our report will that effect. 04P.058.01 regulatory requirements , other state and local those stated in our scope possible effect on the local legislation or any contain a statement to The prospective financial analyses to be included in our report will be based on estimates, assumptions and other information developed from research of the market, knowledge of the industry and other factors, including certain information that you may provide. The sources of information and bases of significant estimates and assumptions will be stated in our report. Some assumptions inevitably will not materialize, and unanticipated events and circumstances may occur; therefore, actual results achieved during the period covered by our prospective financial analyses will vary from those described in our report, and the variations may be material. Our report will contain a statement to that effect. We will have no responsibility to update our report for events and circumstances occurring after our report date and will so state in our report. Our report and the prospective financial analyses included therein • will be intended solely for your information and for the City's continued use in planning for this project and should not be relied upon for any other purpose. Our report will contain a statement to that effect. Otherwise, neither our report nor its contents, nor any reference to our Firm, may be included or quoted in any offering circular or registration statement, prospectus, sales brochure, loan or other agreement or document without our prior written permission. Permission will be granted only upon meeting certain conditions. Should you decide to include our report, a summary thereof, or reference thereto, in an offering document, we will need to perform additional procedures and will require additional fees, computed at our standard hourly rates for these services, to enable us to permit such use. LAVENTHOL & HORWATH By r4 ATTEST:" CITY OF CORPUS CHRISTI By Armando Chapa, City Secretary Craig A. McDowell, City Manager APPROVED DAY OF , 19 HAL GEORGE, CITY ATTORNEY By Assistant City Attorney 04P.058.01 CITY OF CORPUS CHRISTI, TEAS ' CERTIFICATION OF FUNDS (City Charter Article IV Section 21), I certify to the City Council that $ 45,000 • , the amount required for the contract, agreement, obligation or expenditures contemplated in the above and foregoing ordinance is in the Treasut of the City of Corpus Christi to the credit of: Fund No. and Nacre Project No. Trust Fund for Economic Development ///- & 5'3..-54 Project Name Packery Channel Economic Impact Study fxan which it is proposed to be drawn, and such money is not appropriated for any other'pune 1 a 7 .sea oa . - 3.3o -g7 ,moi FIN 2-55 Revised 7/31/69 1947' Y Corpus Christi, Texas f- 51 day of )anL \ , 1981 TO THE MEMBERS OF THE CITY COUNCIL Corpus Christi, Texas For the reasons set forth in the emergency clause of the foregoing ordinance or resolution, an emergency exists requiring suspension of the Charter rule as to consideration and voting upon ordinances or resolutions at three regular meetings; I/we, therefore, request that you suspend said Charter rule and pass this ordinance or resolution finally on the date it is introduced, or at the present meeting of the City Council. Respectfully, Respectfully, Council Members MAYOR THE CITY OF CORPUS CHRISTI, TEXAS The above ordinance was passed by the following vote: Luther Jones Dr. Jack Best David Berlanga, Sr. Leo Guerrero Joe McComb Frank Mendez Bill Pruet Mary Pat Slavik Linda Strong 99.045.01 -4y} 1964©