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HomeMy WebLinkAboutRivery_Park_TIRZ_Board_Agenda_12_2_2014_961Notice of Meeting for the Rivery Park TIRZ Board of the City of Georgetown December 2, 2014 at 11:00 AM at Georgetown Municipal Complex Williamson Room, located at 300-1 Industrial Avenue, Georgetown, TX The City of Georgetown is committed to compliance with the Americans with Disabilities Act (ADA). If you require assistance in participating at a public meeting due to a disability, as defined under the ADA, reasonable assistance, adaptations, or accommodations will be provided upon request. Please contact the City at least four (4) days prior to the scheduled meeting date, at (512) 930-3652 or City Hall at 113 East 8th Street for additional information; TTY users route through Relay Texas at 711. Legislative Regular Agenda A Review, discussion and possible action on the Summit at Rivery Park project, including the Sheraton Georgetown Texas Hotel and Conference Center - Laurie Brewer, Assistant City Manager CERTIFICATE OF POSTING I, Jessica Brettle, City Secretary for the City of Georgetown, Texas, do hereby certify that this Notice of Meeting was posted at City Hall, 113 E. 8th Street, a place readily accessible to the general public at all times, on the ______ day of __________________, 2014, at __________, and remained so posted for at least 72 continuous hours preceding the scheduled time of said meeting. ____________________________________ Jessica Brettle, City Secretary City of Georgetown, Texas SUBJECT: Review, discussion and possible action on the Summit at Rivery Park project, including the Sheraton Georgetown Texas Hotel and Conference Center - Laurie Brewer, Assistant City Manager ITEM SUMMARY: This item will provide an update of the status of the Rivery Project, as well as the Tax Increment Financing Agreement between the City and Williamson County. The Rivery Park improvements are substantially complete. Tee-boxes for the disc golf course have been installed, parking lot improvements made and the pond constructed. A signage plan has been approved by Kimberly Garrett, Parks and Recreation director. She has requested that the 2 aeration fountains for the first pond not be installed, as the fauna, wildlife and wetland pond are all in a desirable state currently and do not require more aeration. The County considered and approved the Third Amended Tax Increment Financing Agreement in June. This agreement extended the date of completion of construction of the hotel, convention center and parking garage from December 31, 2015 to June 30, 2016. The City Council will consider this agreement, along with other related agreements, on December 9, 2014. The financing agreements through the Georgetown Transportation Enhancement Corporation, Georgetown Economic Development Corporation and the City will reflect adjusted timing on the proposed bond issuance and developer reimbursements, based upon the new construction dates. FINANCIAL IMPACT: N/A SUBMITTED BY: Laurie Brewer, Assistant City Manager ATTACHMENTS: Description Type City/County Third Amended Agreement Cover Memo Project Deliverables Report Cover Memo Rivery Project Deliverables Printed on Nov. 26, 14 Page 1 of 3 Requirement Status Contact/Point Notes 1 Total City cost - $5,890,388.50 (Rivery Park + Public Improvements + Parking Garage) 2 Develop TIRZ (expires 12/31/2041 or at $25M) 3 Hotel Site Plan - Complete Building Permit - In Review Construction - Pending Site Plan - Approved Nov 17th Building Permit - Comments issued on Nov 12th. Pending submittal of revised plans – Andreina to follow up with them on status. 3A o Four star Sheraton is 4 Star 3B o 221 guest rooms Included in plans Tamera/Dave Site Plan states 221 rooms. Building Permit plans state 222 rooms; 3C o Restaurant Included in plans Tamera/Dave (Conference) Dining area; Hines states full restaurant and lobby bar area 3D o Rec. amenities Included in plans Tamera/Dave Building Permit plans state: meeting rooms, meeting suites, lobby lounge, fitness room and outdoor pool 3E o On-site/off-site parking Included in plans Tamera/Dave 345 total spaces provided on-site (includes 339 spaces in garage and 6 spaces in front of hotel). 3F o CVB Kiosk Included in JUOA; agreement between Sheraton and Hines does not include; may need to address with operations team after construction 4 b. Conference Center (Complete by 9/30/2015 – minimum cost $12.5M) Site Plan - Complete Building Permit - In Review Construction - Pending TB/DH Site Plan - Approved Nov 17th Building Permit - Comments issued on Nov 12th. Pending submittal of revised plans. 4A o City retains naming rights Hotel Name is “Sheraton Georgetown, Texas Hotel and Conference Center” 4B o Ballroom (16,000 sqft.) Included in plans 4C o Can accommodate small scale events 4D o Open to public and business community of City and Wilco 4E o City has right to ballroom three times per year Included in JUOA and Operating agreement Rivery Project Deliverables Printed on Nov. 26, 14 Page 2 of 3 between Hines and Sheraton 4F o Off-site parking and shuttle service 5 c. City owned public parking garage Site Plan - Complete Building Permit - In Review Construction - Pending TB/DH Site Plan - Approved Nov 17th Building Permit - Plans were sent to ICC on Nov 14th and are currently under review. Staff anticipates receiving a response within 15 days of submittal date. 5A o 336 spaces Included in plans Plan states 339 parking spaces in garage. Includes 8 HC, 18 carpool/vanpool, 18 LEV, and what appear to be 14 compact spaces. 5B o Lessee pays rent JUOLA – rent = maintenance costs 5C o Cost not to exceed $5.7M Paid using LTNs 5D o Complete by 9/30/2015 Date to be adjusted to 06/30/2016 5E o Developer will provide maintenance bond – 25% of cost 6 d. Rivery Parkland Improvements 6A o $390,388.50 6B o Detention Pond Complete 6C o Wetland plantings Complete 6D o 2 aeration fountains Kimberly G. asked that they not install aeration due to current working condition of pond – more aeration may kill the plants/animals 6E o 8 Parking spots in Rivery Park Complete 6F o Rre-route hole #17 with new hole signs and tee boxes for all 18 holes Concrete Tee completed; signage has been approved by KG and ordered; will be installed by 12/31 6G o Trail and board walk with shade structures Complete 6H o Maintenance access road re-routed Complete 7 Other Components of Project 7A o Brownstones In Progress be completed in phases (market driven). 7B o Apartments In Progress Under construction 7C o Retail/commercials development Pending VK Pending submittal of required applications. Rivery Project Deliverables Printed on Nov. 26, 14 Page 3 of 3 7D o Amenity areas In Progress To be completed with each specific project. 8 Public Improvements In progress 8A o Easements as project progresses 8B o City reimburses eligible on-site improvements (not to exceed $2M – paid using LTN) Paid upon completion 8C o TIF reimburses eligible public infrastructure (not to exceed $3.5M, issued after TIF reimburses City, GTEC, and GEDCO for issuance costs) Paid upon completion 9 9 Developer reimburses attorney’s fees. As needed 10 Master Sign Plan Pending TB/DH Pending submittal of sign permit application 10A o Max 6 monument signs 10B o NO electronic or neon signs visible from ROW 11 Schedule 11A o Contractor will provide monthly update to project rep. 11B o As-built – provided to City engineer 12 Developer provides 5-years of fiscal surety 13 Revised Tree Preservation Plan In Review VK Scheduled for CC consideration on Dec 9th.