All right, we are ready to go.

All right, I will call to order today's meeting of the research and innovation local government corporation.

First order of business is approval of the October 28th All those in favor?

Any opposed?

All right, motion carries.

Um Alan, I'm gonna make you stay longer just because it's your last time.

Take your time, Ori, as long as you'd like.

Just give the presentations slow and slow.

You hear me?

Um, so we have several action items today, but I think they've all been grouped in.

Oh, well, one, we have a briefing first, financial reports.

Um, do we have any questions?

Are you just gonna be quick?

Respectfully submitted.

If there are any questions, I'm here to answer them.

I know Roger's gonna kind of talk through some of the financial pieces in his presentation.

So any questions on the briefing on the written briefings?

Seeing none.

All right, Roger, you're up.

Now, the way we're gonna do this, there's several resolutions on your agenda.

Roger is going to um give us a presentation that relate to all of those action items.

So if you have any questions, um please ask him while he's giving this presentation because at the end we'll be taking those votes.

Okay.

Well, good afternoon, everybody.

I'll be brief about this.

So there are three items.

The first three items that you're gonna see here is as the LGC is starting to transition out of the uh Texas AM Fort Worth project in the downtown.

There are some documents that need to be cleaned up in the process.

Most of those have to do between the developer and the LGC, and the other one between the university and the LGC.

So the first item you're gonna see is uh action item A is a resolution really to execute a fourth amendment to a pre-development agreement that was executed initially for the project just to develop a concept, if you will, for the downtown campus.

Uh that was cash funded actually by the university, so they gave the LGC 1.9 million dollars.

We contracted with the developer chosen for that project.

Uh we ended up not needing all 1.9 million dollars.

So what we've done is we've reduced that pre-development agreement contract.

Uh at the same time, we've made the final payment to the developer, and this agreement will also terminate that pre-development agreement.

So any balance that's remaining would go back to the university.

So action item B is the first amendment to the design and pre-construction services agreement.

This was the bigger agreement, if you will, with the developer to develop the design documents, construction documents, really set the table to start construction of the research and innovation building.

Well, as the universities that are elected now to move forward on their own uh through their procurement process and construction.

Um we didn't need all of the 19.6 million dollars that was the contracted amount with the developer.

So that has been reduced down to 12.7 million dollars.

Most of that reduction comes in the forms that you don't need uh insurance anymore, bond insurance.

Everything was being set up for construction, right?

No more contingencies were not needed anymore.

There was some infrastructure, kind of pre-early uh uh orders with encore for some of the electrical infrastructure needed for the project.

None of that was needed anymore.

So the developer and us, and as well as the university agreed let's lower the contract amount, recognize the final payment that's been made to uh to the developer, and then formally terminate this agreement.

So action item C is an amended and restated interlocal agreement with the university and the LGC.

We had previously approved or this board had approved uh interlocal agreements for both pre-development agreement as well as the design of pre-construction services agreement.

This kind of recognizes those agreements into one document, amends and restates those all those obligations under those agreements at the same time.

Uh it's returning back to the university any unspent amount that they cash it funded for the project.

Um it recognizes the assignment of the all the design and construction documents to the university, and then of course acknowledges TAMIS repayment of the debt issued by the LGC to fund the pre design of pre-construction services work.

So those are your first three items that you have.

Those first three resolutions are related to the AM project.

Does anybody have any questions?

Seeing none, we'll have to take each resolution individually.

So first is the resolution authorizing the execution of the fourth amendment to the pre-development agreement between the corporation AFWP.

All those in favor?

Any opposed all right next up a resolution authorizing the execution of the first amendment to this design and pre-construction services agreement.

All those in favor any opposed okay moving on C resolution authorizing the execution of an amendment and uh restated interlocal agreement between TAMU and the city.

All those in favor any opposed all right seeing none motion carries next up is our final action item and it is a resolution authorizing the City of Fort Worth assistant city manager Dana Bergdoff as a signatory on the corporation's bond.

All those in favor?

Aye.

Any opposed all right seeing none motion passes do we have a request for future agenda items no meeting adjourned