HomeMy WebLinkAboutC2006-037 - 1/31/2006 - Approved
MEMORANDUM OF UNDERSTANDING
THE STATE OF TEXAS
COUNTY OF NUECES
The City of Corpus Christi, Texas ("City"), a home-rule municipality, and TRT
Development Company, ("TRT"), a foreign Delaware corporation authorized to do
busmess in Texas; desire to engage in negotiations to establish an agreement for the
redevelopment of the \1emorial Coliseum site in Corpus Christi, Texas. The City and
TRT are the parties ("parties") to this memorandum of understanding.
The terms of this memorandum of understanding are not binding upon the parties but are
intended to establish the basic tenants for the anticipated agreement for the
redevelopment and reuse of the Memorial Coliseum site.
The basIc tenants are as follows:
1.
The parties will endeavor to negotiate mutually agreeable and beneficial terms
for a lease agreement and a development agreement relating to the future use
of the Memorial Coliseum site.
)
The parties will negotiate toward a consensus for the final project scope and
design to be included in the lease and redevelopment agreement.
3.
The parties will endeavor to avoid any limitation or adverse affects on any
currently planned development in the vicinity of the Memorial Coliseum site.
4.
The parties will consider throughout the negotiation process public input,
provided to the City, relevant to the objectives set forth in the Request for
Proposals.
.;;
The parties agree to strive to complete the negotiations for the lease agreement
and the redevelopment agreement within 90 days from the date of this
memorandum of understanding.
6.
The parties will establish a schedule of meetings and each commits to having
appropriate parties in attendance for meaningful negotiations. All negotiation
meetings w! 11 be held within Corpus Christi, Texas.
7
The parties agree to establish a construction time-line that conforms to each
party's respective interests.
This Memorandum of Understanding will continue in effect until modified by mutual
agreement of the parties.
2006-037
01/31 lOt.
!\12006-029
TRT Development ('ompany
All notices required or permitted hereunder shall be in writing and shall be deemed
delivered when actually received or, if earlier, on the third day following deposit in a
United States Postal Service post office or receptacle with proper postage affixed
(certified mail, return receipt requested) addressed to the respective other party at the
address described below or at such other address as the receiving party may have
theretofore prescribed by notice to the sending party:
"City"
City of Corpus Christi, Texas
City Manager
P. O. Box 9277
1201 Leopard Drive
Corpus Christi, Texas 78469
"TRT'
TRT Development Company
420 Decker Drive, Suite 200
Irving, Texas 75062
The relationship of "TRT" to "City" shall be that of an independent contractor. "City"
shall have no authority to direct the day-to-day activities of any of "TRT's" personnel
decisions, and shall have no other rights to internal working papers or other information
or data than "TR T" would have to any other independent contractor providing specific
servIces (e.g. museum services, weed cutting, legal services, auditors).
Without in any way limiting the generality of the foregoing, it is specifically
ackno\',:\edged and agreed that "TR T" has bargained for the confidentiality of all internal
information and data that it generates, other than that required to be submitted to "City"
pursuant to this Memorandum of Understanding, in order to foster and promote
competition, to assure the integrity of the competitive process, and to protect proprietary
or innovative business strategies and concepts.
This Memorandum of Understanding shall not bestow any rights upon any third parties.
IN WJTNESS WHEREOF. the parties have made and executed this Memorandum of
Understanding in multiple copies, each of which shall be an original, on this the ~ day
of _~___, 200h.
City of Corpus Christi, Texas
d, L,X.__--
----,.../..-.---- ---._._--------
Geot"ge K. Noe, City Manager
ATTEST:
\
, (, ...) ( .
, . '..' -- \.'- ',<, I "u' I'&UKw..
, ____~.....,"''''_...._... H
~" f)....~f~ ._,
I(-ll!ce
1......._
_._-J~
,*rtnllPV i'v'/
Armando Chapa, City Secretary
TRT Development Company
/ /.' . /" ,/ '.1. ij
l ~/;_ a~J
Fo. Caldwell, President
ATTEST:
~-"-"'.----'
David G. Adams, Secretary