Loading...
HomeMy WebLinkAbout17139ORDINANCE NO. 17,139 AN ORDINANCE APPROVING AND ADOPTING INTERLOCAL AGREEMENT FOR FUNDING AND EXPANSION OF STATEHOUSE CONVENTION CENTER (the, " INTERLOCAL AGREEMENT ") BY AND BETWEEN THE CITY OF LITTLE ROCK (the, "CITY ") AND THE COUNTY OF PULASKI (the, "COUNTY "); AUTHORIZING THE EXECUTION OF AND PERFORMANCE BY THE CITY OF THE INTERLOCAL AGREEMENT; PRESCRIBING OTHER MATTERS PERTAINING THERETO AND DECLARING AN EMERGENCY. WHEREAS, the City is the owner of the lands and buildings comprising the Statehouse Convention Center, a municipal convention facility, presently situated on Block 79 and Block 80, Original City of Little Rock (hereinafter referred to as the "Existing Statehouse Convention Center "); and, WHEREAS, the City is the owner of the lands situated in Blocks 1 and 79, Original City of Little Rock over which the southbound lane of the Main Street Bridge is situated and is the owner of the remaining portion of Block 1, Original City of Little Rock, which lands are hereinafter collectively referred as the "Expansion Lands "; and, WHEREAS, pursuant to Act 380 of 1971, the City and the County believe that the development, construction, erection, equipping, furnishing, operation, maintenance and development of an expansion of and to the Existing Statehouse Convention Center on and appurtenant to the Expansion Lands, including but not limited, the construction, erection, equipping, furnishing, operation, maintenance and development of parking decks and other related facilities on lands adjacent to the Existing Statehouse Convention Center and the Expansion Lands, the development, repair, maintenance, renovation, re- equipping, re- -1- HXPAU OMMI.,&EXPA. ORDINANCE furnishing, re- erection and operation of the Existing Statehouse Convention Center and the development, operation and maintenance of the Existing Statehouse Convention Center, as expanded, will secure and develop tourism in and within the County and the City and will thereby stimulate and enhance the economic growth and well -being of the City, the County and all the citizens therein (such undertakings being hereinafter collectively referred to as the "Statehouse Convention Center, Parking Deck and Related Facilities Tourism Project "; and, WHEREAS, in furtherance of the aforesaid belief and desire, the City and the County presented to their citizens at an election held on the 1st day of August, 1995 the opportunity to vote "for" or "against" a county -wide sales tax (the, "tax "), the proceeds of which would be used, among other things, to partially fund and pay for the Statehouse Convention Center, Parking Deck and Related Facilities Tourism Project; and, WHEREAS, the electors of the County and the City overwhelmingly voted in favor of the said tax, which tax the County began collecting on or about the 1st day of October, 1995; and, WHEREAS, it is expected that the tax will generate approximately Forty -five Million Dollars in tax revenues of which sum Twenty Million Dollars has been earmarked to partially fund the accomplishment of the Statehouse Convention Center, Parking Deck and Related Facilities Tourism Project; and, WHEREAS, it is thought that were the County to undertake the construction and operation of a new convention center and related facilities on its own with only Twenty Million Dollars, the result would be both redundant and inadequate because the County would have to acquire land upon which to construct the improvements at current market rates, resulting at less money being available to construct the improvements and, at best, -2- HJKPAUPCOMMb,dEXP.d. m • • 200 ORDINANCE such new facilities would simply compete for existing business with existing convention centers in the county without generating or stimulating any real new economic impact; and, WHEREAS, the City with its trained and experienced management, promotional and operations staff has under its current ownership and operation lands and existing facilities, which if developed and expanded, would greatly enhance the local economy by attracting a new market of conventioneers; and, WHEREAS, coupling the City's existing capital investment and its experienced personnel with the County's Twenty Million Dollars in tax revenues to accomplish the Statehouse Convention Center, Parking Deck and Related Facilities Tourism Project will result in maximizing the economic advantages sought by both the County and the City because it will enable development, marketing and operation of facilities capable of accommodating larger events not otherwise attainable in this area; and, WHEREAS, in furtherance of the foregoing, the City and the County have negotiated the terms and provisions of an Interlocal Agreement for Funding and Expansion of the Statehouse Convention Center, the performance of which will enable the City and County to attain their mutually beneficial objective. NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS. SECTION 1. That, pursuant to Act 380 of 1971, the County has determined and the Board of Directors of the City does hereby find, conclude and determine that the development, construction, erection, equipping, furnishing, operation, maintenance and development of an expansion of and to the Existing Statehouse Convention Center on and appurtenant to the Expansion Lands, including but not limited, -3- HJUAU OMMbrdEP ORDINANCE the construction, erection, equipping, furnishing, operation, maintenance and development of parking decks and other related facilities on lands adjacent to the Existing Statehouse Convention Center and the Expansion Lands, the development, repair, maintenance, renovation, re- equipping, re- furnishing, re- erection and operation of the Existing Statehouse Convention Center and the development, operation and maintenance of the Existing Statehouse Convention Center, as expanded, will secure and develop tourism in and within the County and the City and will thereby stimulate and enhance the economic growth and well -being of the City, the County and all the citizens therein. SECTION 2. That, in furtherance of the foregoing, the terms, provisions, obligations and covenants set forth in that certain Interlocal Agreement for Funding and Expansion of the Statehouse Convention Center (the, "Interlocal Agreement'), a true and correct copy of which is attached hereto marked as Exhibit "A" and by this reference is fully incorporated herein, be and hereby are approved and that the Mayor and City Clerk be and hereby are authorized and directed to make and execute the Interlocal Agreement and to take any and all other steps and actions necessary, required or desirable to fully implement the said Interlocal Agreement. SECTION 3. The provisions of this Ordinance are hereby declared to be severable. If any provision of this Ordinance shall be held to be invalid or to be inapplicable to any persons or circumstances, such invalidity or inapplicability shall not affect the remainder of the provisions of this Ordinance. SECTION 4. It has been found, and it is hereby declared, that the City badly needs the ability to use and spend the funds to be derived from the Interlocal Agreement in accordance with the purposes prescribed herein to continue the development of the City and for the welfare of the inhabitants thereof. This Ordinance, therefore, being -4- HJUA OMMb Ma A. • • 202 ORDINANCE #17,139 necessary for the preservation of the public peace, health and safety, an emergency is declared to exist, and this Ordinance shall be in effect from and after its passage and approval. PASSED: 'March 5, 1996 ATTESTS j fij. D- _�C�APPROVED: �� fia�—" City Clerk Robbie Hancock yor Jim Dailey -5- HJUAUPCOMMbtdEX .d • • TU EXHIBIT "A" INTERLOCAL AGREEMENT FOR FUNDING AND EXPANSION OF STATEHOUSE CONVENTION CENTER This Interlocal Agreement is made and entered into by and between the County of Pulaski, acting by and through its duly elected and empowered Quorum Court Members and County Judge, hereinafter referred to as the "County ", and the City of Little Rock, acting by and through its duly elected directors and Mayor, its duly empowered officers and on behalf of its duly appointed and empowered agent, the City Advertising and Promotion Commission, hereinafter collectively referred to as the "City ". WHEREAS, the City is the owner of the lands and buildings comprising the Statehouse Convention Center, a municipal convention facility, presently situated on Block 79 and Block 80, Original 'City of Little Rock (hereinafter referred to as the "Existing Statehouse Convention Center "); and, WHEREAS, the City is the owner of the lands situated in Blocks 1 and 79, Original City of Little Rock over which the southbound lane of the Main Street Bridge is situated and is the owner of the remaining portion of Block 1, Original City of Little Rock, which lands are hereinafter collectively referred as the "Expansion Lands "; and, WHEREAS, pursuant to Act 380 of 1971, the City and the County have determined that the development, construction, erection, equipping, furnishing, operation, maintenance and development of an expansion of and to the Existing Statehouse Convention Center on and appurtenant to the Expansion Lands, including but not limited, the construction, erection, equipping, furnishing, operation, maintenance and development of parking decks and other related facilities on lands adjacent to the Existing Statehouse Convention Center and the Expansion Lands, the development, repair, maintenance, renovation, re- equipping, re- furnishing, re- erection and operation of the Existing Statehouse Convention Center and the development, operation and maintenance of the Existing Statehouse Convention Center, as expanded, will secure and develop tourism in and within the County and the City and will thereby stimulate and enhance the economic -I- 0 1n2/%hj4a*comm\fundaVt.dm • • 204 INTERLOCAL AGREEMENT FOR FUNDING AND EXPANSION OF STATEHOUSE CONVENTION CENTER: growth and well -being of the City, the County and all the citizens therein (such undertakings being hereinafter collectively referred to as the "Statehouse Convention Center, Parking Deck and Related Facilities Tourism Project "; and, WHEREAS, in furtherance of the aforesaid determination and desire, the City and the County presented to their citizens at an election held on the 1 st day of August, 1995 the opportunity to vote "for" or "against" a county-wide sales tax (the, "tax "), the proceeds of which would be used, among other things, to partially fund and pay for the Statehouse Convention Center, Parking Deck and Related Facilities Tourism Project; and, WHEREAS, the electors of the County and the City overwhelmingly voted in favor of the said tax, which tax the County began collecting on or about the 1st day of October, 1995; and, WHEREAS, it is expected that the tax will generate approximately Forty -five Million Dollars in tax revenues of which sum Twenty Million Dollars has been earmarked to partially fund the accomplishment of the Statehouse Convention Center, Parking Deck and Related Facilities Tourism Project; and, WHEREAS, were the County to undertake the construction and operation of a new convention center and related facilities on its own with only Twenty Million Dollars, the result would be both redundant and inadequate because the County would have to acquire land upon which to construct the improvements at current market rates, resulting at less money being available to construct the improvements and, at best, such new facilities would simply compete for existing business with existing convention centers in the county without generating or stimulating any real new economic impact; and, WHEREAS, the City with its trained and experienced management, promotional and operations staff has under its current ownership and operation lands and existing facilities, which if developed and expanded, would greatly enhance the local economy by attracting a new market of conventioneers; and, WHEREAS, coupling the City's existing capital investment and its experienced personnel with the County's Twenty Million Dollars in tax revenues to accomplish the Statehouse Convention Center, Parking Deck and Related Facilities Tourism Project will result in maximizing the economic advantages sought by both the County and the City -2- 0 1 f129%kpe\epeo V=dwt.d. • • ,20b INTERLOCAL AGREEMENT FOR FUNDING AND EXPANSION OF STATEHOUSE CONVENTION CENTER: because it will enable development, marketing and operation of facilities capable of accommodating larger events not otherwise attainable in this area. NOW, THEREFORE, WITNESSETH: That for and in consideration of the mutual promises, covenants and agreements herein contained, to be fully performed and observed by the parties hereto, the sufficiency of which the Parties hereto acknowledge to be mutual obligations and mutually beneficial, the City and the County, subject to the terms and provisions hereof, covenant and agree as hereinafter set forth: SECTION 1. The City and the County covenant and agree that the accomplishment and completion of the Statehouse Convention Center, Parking Deck and Related Facilities Tourism Project will secure and develop tourism and thereby stimulate and enhance the economic growth and well -being of the City, the County and the citizens thereof, thus the Statehouse Convention Center, Parking Deck and Related Facilities Tourism Project is hereby declared to be a public purpose. SECTION 2. In order to carry out the objectives stated in the Recitals hereinabove set forth, the City covenants and agrees with the County that the City will do, take, cause and perform any and all steps and actions, necessary, required and desirable, to plan, develop, design, implement, construct, erect, install, own, operate, repair, renovation, equip, furnish, maintain, re- erect, re- construct, re -equip and re- furnish the Statehouse Convention Center, Parking Deck and Related Facilities Tourism Project. SECTION 3. In order to carry out the objectives stated in the Recitals hereinabove set forth, the County covenants and agrees with the City that the County will levy the tax and deposit 20 /45ths of each dollar of tax so collected and received by it, as and when received, in an account (hereinafter referred to as the "Project Account ") for the use and benefit of the City until such time as the County has deposited in said account Twenty Million Dollars of tax. The County further covenants and agrees that it will at all times invest the monies deposited by it in the Project Account in such income producing investments as are authorized by law and will attempt to earn and accrue to the Project Account the highest possible income allowed by law. The Parties hereto agree that the -3- 01n2/%nik1.\ap \f=dWtda • • 266 INTERLOCAL AGREEMENT FOR FUNDING AND EXPANSION OF STATEHOUSE CONVENTION CENTER: Twenty Million Dollars deposited as aforesaid, together with all interest and income earned thereon, shall only be used by, and inure to the benefit of, the City to be expended for the accomplishment of the Statehouse Convention Center, Parking Deck and Related Facilities Tourism Project and for no other purpose. The Twenty Million Dollars deposited as aforesaid, together with all interest and income earned thereon, being hereinafter collectively referred to as the "Statehouse Project Fund ". SECTION 4. The County covenants and agrees that it will irrevocably hold the Statehouse Project Fund available for the payment of, and will pay, the City's drafts drawn at sight on the County upon the presentation of said drafts consistent with the budget approved by the County Quorum Court to the County Comptroller accompanied, in the case of each draft, by a written statement signed by the Executive Director of the City Advertising and Promotion Commission addressed to the County Judge stating that the amount represented by the draft accompanying each statement is the amount required to be paid to the City in order that the City may pay for the labor, service, materials, supplies, equipment, fees, work, expenses and any and all other costs described thereon to be incurred by the City in connection with the accomplishment of the Statehouse Convention Center, Parking Deck and Related Facilities Tourism Project. The County, acting by and through the County Judge, covenants and agrees to honor and pay each draft drawn under and in compliance with the budget approved by the Quorum Court and the terms and provisions hereof when presented to the County Comptroller. SECTION 5. The City covenants and agrees with the County that the City will use, expend and disburse the Statehouse Project Fund to accomplish and pay for the completion of the Statehouse Convention Center, Parking Deck and Related Facilities Tourism Project and expects to complete same within three (3) years. SECTION 6. The Parties further agree that ownership and title to the Statehouse Convention Center and the facilities and equipment constructed and acquired as part of the Statehouse Convention Center, Parking Deck and Related Facilities Tourism Project shall at all times remain and be in the City and the City covenants and agrees with the County that the City will own, operate, manage, maintain, staff, re- equip, market, and repair same in order to secure and develop tourism and thereby stimulate and enhance the economic growth and well -being of the City, the County and the citizens thereof. Accordingly the Parties hereto agree that the County will have no liability for the cost to construct, operate, manage, maintain, staff, re- equip, market, and repair the Statehouse Convention ME 0 1 av9jkpa* �v =d.Vca. INTERLOCAL AGREEMENT FOR FUNDING AND EXPANSION OF STATEHOUSE CONVENTION CENTER: Center, Parking Deck and Related Facilities Tourism Project beyond the amount the County is required hereby to deposit in the Statehouse Project Fund and pay out to the City in accordance with the terms and provisions hereof. SECTION 7: The Parties hereto further covenant and agree as follows: (a) This Agreement contains all the terms and conditions agreed upon by the parties hereto with respect to the transactions contemplated hereby, and shall not be amended or modified except by written instrument signed by all of the parties. (b) This Agreement shall be binding upon and inure to the benefit of the representatives, heirs, estates, successors and assigns to the parties hereto. (c) Nothing expressed or implied in this Agreement is intended, or shall be construed, to confer upon or give any person, firm or corporation, other than the parties hereto, their successors and assigns, any benefits, rights or remedies under or by reason of this Agreement. (d) This Agreement shall be governed by and construed under the laws of the State of Arkansas. (e) The obligations and undertakings of the Parties hereto shall be performed within the time specified therefor, time being of the essence of this Agreement, and the failure to perform within such time shall constituted a breach of and default under this Agreement on the part of the Party who fails to perform. (f) Wherever in this Agreement it is provided that any party shall or will make any payment or perform or refrain from performing any act or obligation, each such provision shall, even though not so expressed, be construed as an express agreement to make such payment or to perform or not to perform, as the case may be, such act or obligation. (g) Each party hereto and counsel for each party have reviewed this Agreement and, accordingly, the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this -5- 0 1 n2/96hi1q.\.p..vw,dag .d« 0 INTERLOCAL AGREEMENT FOR FUNDING AND EXPANSION OF STATEHOUSE CONVENTION CENTER: Agreement. No inferences shall be drawn from the fact that changes have been agreed to herein from any prior Agreements. (h) In the event one or more of the provisions (or portions thereof) of this Agreement is determined to be illegal or unenforceable, the remainder of this Agreement shall not be affected thereby and each remaining provision or portion thereof shall continue to be valid and effective and shall be enforceable to the fullest extent permitted by law. (k) The waiver of any breach or condition of this Agreement by any party hereto shall not constitute a precedent for any subsequent waiver or breach of any condition and the Parties further agree that this Agreement terminates and renders inoperative and unenforceable all verbal agreements between the Parties hereto. (1) Any word used herein stated in the singular shall include the plural, and vice versa. All titles and articles are for convenience only, and neither limit nor amplify the provisions of this Agreement. EXECUTED THIS 01=96hjkpa*pc \fwdege.d« DAY OF , 1996. County of Pulaski 6", City of Little Rock II IM 203