R2019-092 2019-03-25 RESOLUTION NO. R2019-92
A Resolution of the City Council of the City of Pearland,Texas,authorizing the
City Manager or his designee to enter into a Reimbursement Agreement
between the City and the Pearland Economic Development Corporation, in
accordance with an existing Letter Finance Agreement with Pearland
Municipal Management District No. 1,associated with the Lower Kirby Master'
Drainage Plan Land Acquisition.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS:
Section 1. That certain Reimbursement Agreement by and between the City of Pearland
and the Pearland Economic Development Corporation, a copy of which is attached hereto as Exhibit
"A" and made a part hereof for all purposes, are hereby authorized and approved.
Section 2. That the City Manager or his designee is hereby authorized to execute and
the City Secretary to attest the Reimbursement Agreement.
PASSED, APPROVED and ADOPTED this the 25th day of March, A.D., 2019.
TOM REID
MAYOR
ATTEST:
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APPROVED AS TO FORM:
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DARRIN M. COKER
CITY ATTORNEY
REIMBURSEMENT AGREEMENT
LOWER KIRBY MASTER DRAINAGE PLAN
LAND ACQUISITION
This Agreement is entered into this Z5 th day of m,zaL , 2019, by and between the
CITY OF PEARLAND, TEXAS (hereinafter "City"), and the. Pearland Economic
Development Corporation (hereinafter"PEDC").
WHEREAS, the PEDC is a Type. B economic, development corporation, created
pursuant to Chapter 505 of the Texas Local Government Code, as amended; and
WHEREAS, the City and Lower Kirby Pearland Management District ("LKPMD") and
Pearland Municipal Management District No. 1 ("PMMD#1") have approved a Master
Drainage Plan ("Plan") for the area located within the boundaries of LKPMD and
PMMD#1.
WHEREAS, the LKPMD, PMMD#1, City and PEDC desire to make drainage
improvements to the Main Detention pond located at the end of Fruge Road and north of
Clear Creek in accordance with the Plan (hereinafter "Improvements"); and
WHEREAS, the Improvements represent an infrastructure project located within the
boundaries of the LKPMD; and
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WHEREAS, the City and PEDC desire to acquire the fee simple title interest in the
property in order to make the Improvements (hereinafter"Acquisition"); and .
WHEREAS, .the LKPMD will design and construct the Improvements on behalf of
PMMD#1; and
WHEREAS, Section 501.103 of the Texas Local Government Code (hereinafter"Code"),
in pertinentpart, defines the term "project" to mean "expenditures that are found by the
board of directors to be required or suitable for infrastructure necessary to promote or
develop new or expanded business enterprises, limited to: (1) streets and roads, rail
spurs, water and sewer utilities, electric utilities, or gas utilities, drainage, site
improvements, and related improvements; (2) telecommunications and Internet
improvements . . ."; and
WHEREAS, the PEDC desires to fund LKPMD's and PMMD#1's portions of the
Acquisition for the Improvements and related expenses; and
WHEREAS, the City is entitled to receive eligible reimbursements from PMMD#1 and
LKPMD for the costs associated with PMMD#1,'s portion of the Acquisition; and
WHEREAS, PEDC approved funding for the Acquisition for the Improvements at its
February 28, 2019 Board of Directors' meeting; and
WHEREAS, City and PEDC desire an agreement to set forth their respective
responsibilities with regard to the Acquisition and reimbursement of said costs.
WITNESSETH:
NOW THEREFORE, in consideration of the foregoing premises and other good and
valuable consideration the receipt and sufficiency of which is hereby acknowledged, it is
hereby agreed as follows:
1. The City shall contract for all professional services necessary to provide
documentation to acquire the fee interest in the Acquisition.
• 2. The City will acquire, on behalf of the LKPMD and PMMD#1, the parcel needed
for the Improvements as identified in Exhibit "A" attached hereto.
3. The total cost of the Acquisition is estimated to be $115,872, as shown in Exhibit
"B". LKPMD will be responsible for financing its 72.3% share of the Acquisition
expenses, estimated to be $83,775 ("LKPMD Portion"). The City's contribution is
estimated to be $32,097 ("City Portion") for PMMD#1's 27.7% share of the
Acquisition expenses. The PEDC agrees to fund the City Portion ("PEDC
Participation"), or the actual cost. The PEDC Participation amount shall be paid to
City in installments or a lump sum amount. The timing and amount of the payment
shall be determined at sole discretion of the City, but in no event shall the total
payments exceed the actual cost of the Acquisitions..
4. This Agreement shall be contingent upon the City entering into a Financing
Agreement with the LKPMD and PMMD#1 whereby City agrees to pre-finance the
Acquisition in return for LKPMD's and PMMD#1's agreement to reimburse the City
for the costs associated with the Acquisition ("Reimbursable Fund Payments").
Within 90 days following City's receipt of a Reimbursable Fund Payment from
LKPMD or PMMD#1 that is attributable to the Acquisition, City shall make payment
to PEDC, in an amount equal to the Reimbursable Fund .Payment, as
reimbursement for the PEDC Participation Amount.
5. The initial term of this Agreement shall be for a period of eighteen (18) months,
commencing on the 25 th day of N\Ar4h , 2019, and may be renewed as needed
until the Improvements are substantially complete.
6. This Agreement may only be amended, modified, or supplemented by written
agreement and signed by both parties.
8. No assignment by a party hereto of any rights under or interests in this agreement
will be binding on another party hereto without the written consent of the party
sought to be bound; and specifically but without limitation moneys that may
become due and moneys that are due may not be assigned without such consent
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(except to the extent that the effect of this restriction may be limited by law), and
unless specifically stated to the contrary in any written consent to an assignment
no assignment will release or discharge the assignor from any duty or responsibility
under this Agreement.
9. Nothing herein is intended to supersede or waive any City ordinance or regulation
pertaining to such construction.
10. Whenever possible, each provision of this Agreement shall be interpreted in such
manner as to be effective and valid under applicable law, but if any provision of
this Agreement is prohibitive or invalid under applicable law, such provision shall
be ineffective to the extent of such provision or invalidity, without invalidating the
remainder of such provision or the remaining provisions of this Agreement.
11. This Agreement shall be construed and enforced in accordance with and governed
by the laws of the State of Texas.
12. To accomplish execution of this Agreement, it may be executed in multiple
counterparts.
13. The Parties agree that any suit arising out of or related to this'Agreement shall be
filed in Brazoria County Texas.
14. All notices which are required or may be given pursuant to this Agreement shall be
in writing and shall be sufficient if delivered personally or by first class mail, postage
prepaid, return receipt requested, or by a nationally recognized courier, to the
parties and their attorneys at the addresses set out below or such other addresses
as the parties or their attorneys may hereafter notify one another:
If.to City: City of Pearland
Attn: Clay Pearson, City Manager
3519 Liberty Drive
Pearland; TX 77581
If to PEDC: Pearland Economic Development Corporation
Attn: Chairman
3519 Liberty Drive, Suite 300
Pearland, TX 77581
Notice delivered in accordance with the terms hereof shall be effective upon receipt.
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In witness whereof, the parties have hereunto set their hands and signatures on the date
first above mentioned.
PEARLAND ECONOMIC DEVELOPMENT
CORPORATION
a Texas non-profit corporation
By:
Brandon dansby
Chair
CITY OF PEARLAND,
a Texas nicipal corporation
By:
Clay 'ears.n
City Manage
ATTEST: ,`NQ R,Lg�N,
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EXHIBIT A
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EXHIBIT B
Project Budget
Lower Kirby MDP Acquisition
Estimated Budget
Total Cost PMMD#1 LKPMD
Share 27.7% Share 72.3%
Property Cost* $100,872 $27,942 $72,903
Appraisal $ 5,000 $ 1,385 $ 3,615
Other Professional Services $ 10,000 $ 2,770 $ 7,230
Total Estimated Budget $115,872 $32,097 $83,775
*Based on appraisal of similar property located in floodway.
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