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HomeMy WebLinkAboutResolution - 6424 - Agreement - MDM Investments Inc. - 07_27_199911 a Resolution No. 6424 July 27, 1999 Item No. 5 RESOLUTION BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the Mayor of the City of Lubbock BE and is hereby authorized and directed to execute for and on behalf of the City of Lubbock an Agreement and all related documents by and between the City of Lubbock and M.D.M. Investments, Inc., attached hereto and which shall be spread upon the minutes of the council and as spread upon the minutes of this Council shall constitute and be a part of this Resolution as if fully copied herein in detail. Passed by the City Council this 27th day of July 1999. ATTEST: . 'L Kat Darnell, City Secretary ►fficer APPROVED AS TO FORM: n Doh Vandiver First Assistant City Attorney 1 i 1, 1 !! , IF Resolution No. 6424 July 27. 1999 Item Ho. 5 STATE OF TEXAS § COUNTY OF LUBBOCK § This Agreement made this 27th day of July , 1999, by and between the City of Lubbock, Texas, a home rule municipality of the State of Texas (hereinafter called "City") and M. D. M. Investments, Inc. (hereinafter called "Company"); WITNESSETH: WHEREAS, City did receive from Company on the 12th day of May, 1999, an application for commercial tax abatement for the renovation and modernization of Company's facilities located at 1206 14'b Street which is further described as Lots 1-5 and 16-20 Block 163 and Lots 11-20 Block 147 of the Original Town of Lubbock, Lubbock County, Texas. WHEREAS, upon review of the above application, it was determined that facilities would be located in the North Enterprise Zone designated by City in its Ordinance No. 9591; and WHEREAS, the Guidelines and Criteria Governing Tax Abatement for Commercial Projects in Designated Enterprise Zones in the City of Lubbock was heretofore adopted by Resolution No. 5680 of the City Council of the City of Lubbock; and WHEREAS, the City did comply with all the requirements set forth in V.T.C.A., Tax Code, Section 312.2011; and WHEREAS, the City did comply with all of the criteria and guidelines for creation of an enterprise zone as set forth in Chapter 2303, Subchapter C of the Texas Enterprise Zone Act, Texas Government Code, having adopted Ordinance No. 9591 of the City on February 18, 1993, which ordinance includes 1206 14' Street. II 6 !, i. I,. ■ WHEREAS, V.A.T.C., Tax Code, Sec. 312.2011 provides designation as an enterprise zone constitutes designation as a reinvestment zone without further action; and WHEREAS, the application received by City from Company is an application for the renovation and modernization of an existing facility; and WHEREAS, V.A.T.C., Tax Code, Sec. 312.002 specifically states that such a purpose is to be included in the guidelines for tax abatement and to be eligible for such treatment; and WHEREAS, Section IV of the Guidelines and Criteria Governing Tax Abatement for Commercial Projects in Designated Enterprise Zones adopted by the City Council by Resolution No. 5680 does recognize renovation and modernization of existing facilities as being eligible for commercial tax abatement status; and WHEREAS, the City Council does hereby find that all of the Guidelines and Cri- teria established for Commercial Tax Abatement within the Enterprise Zones of the City of Lubbock, as adopted by Resolution No. 5680, have been met by Company; and WHEREAS, Company does intend to renovate and modernize the existing facility; and WHEREAS, the location of the existing facility and surrounding real property, which are to be the subject matter of the Agreement, are attached hereto as Exhibit "A", and made a part of this Agreement for all purposes; and WHEREAS, the City Council finds that entering into this Agreement to abate taxes on the property described in Exhibit "A" will promote high quality commercial development in the City, and enhance economic development within the designated Enterprise Zone; NOW THEREFORE, for and in consideration of the premises, and of the mutual terms, covenants and conditions herein contained, the City and Company do hereby agree as follows: AGREEMENT — M.D.M. INVESTMENTS, INC. Page 2 SECTION 1. Term. This Agreement shall remain in force and effect for a period of five (5) years from the date of its execution, and shall expire and be of no further force and effect after said date. SECTION 2. Base Year. The base year applicable to real property, which is the subject of the Agreement, shall be 1999, and the assessed value of the real property shall be the assessed value applicable to such property for said year. SECTION 3. Base Year Taxes. The taxes upon the real property shall be paid in accordance with the assessed value of such property for the base year. Base year taxes upon the real property are thus not abated. SECTION 4. Abatement of Increase in Base Year Tax. In accordance with V.A.T.C., Tax Code, Section 312.204, real property taxes applicable to the real property subject to this Agreement shall be abated only to the extent said value for any given year within the term of this Agreement exceeds the base year taxes hereinabove set forth. SECTION 5. Propuly Ineligible for Tax Abatement. The property described and set forth in Section IV(6) of the Guidelines and Criteria Governing Tax Abatement for Commercial Projects in Designated Enterprise Zones, and heretofore adopted by the City Council by Resolution No. 5680, and incorporated by reference herein as if fully set out in this Agreement is property ineligible for tax abatement. SECTION 6. Exemption from Tax. The City covenants and agrees to exempt from taxation, in accordance with Section 4 above, the following properties: (a) All proposed new improvements to be placed upon the existing facility located at 1206 141h Street which is further described as Lots 1-5 and 16-20 Block 163 and Lots 11-20 Block 147 of the Original Town of Lubbock, Lubbock County, Texas. (b) ©U eligible tangible personal property placed in or upon the property set forth in Exhibit "A", which does not include any equipment and personal property owned by the company and already located in the existing facility. AGREEMENT — M.D.M. INVESTMENTS, INC. Page 3 (c) It is further understood that aU items affixed to the improvements placed upon the real property identified in Exhibit "A" including machinery and equipment shall be considered part of the real property improvement, and taxes thereon shall be abated in accordance with the provisions of sub- paragraph (a) above set forth. SECTION 7. Economic Qualification. It is hereby found by the City that Company will expend funds necessary to qualify for tax abatement by renovating and modernizing an existing facility, all as set forth in Section IV(10)(a) of the Guidelines and Criteria Governing Tax Abatement for Commercial Projects in Designated Enterprise Zones in the City of Lubbock adopted by the City through Resolution No. 5680. SECTION 8. Value of Improvements. Company intends to expend approximately four million two hundred and seventy thousand dollars ($4,270,000) in building related structural improvements and equipment to be located within the Enterprise Zone created by Ordinance No. 9591. SECTION 9. Ci]3� Access to Property. Company covenants and agrees that City shall have access to the property, which is the subject matter of this Agreement, during normal business hours, and that municipal employees shall be able to inspect the property to insure that the improvements are being made in accordance with the terms and conditions of Company's application for commercial tax abatement, attached as Exhibit "A", and this Agreement. SECTION 10. Portion of Tax Abated. City agrees, during the term of this Agreement, to abate taxes on eligible property according to the following schedule: Year 1: 100% Year 2: 80% Year 3: 60% Year 4: 40% Year 5: 20% AGREEMENT — M.D.M. INVESTMENTS, INC. Page 4 SECTION 11. Commencement Date. This Agreement shall commence upon the date of its execution, which date is hereinafter set forth, and shall expire five (5) years after such date. SECTION 12. Tvpe of Improvements. The Company proposes to renovate and modernize an existing building as described in Exhibit "A". The Company further states that the proposed improvements to the property above mentioned shall commence on the 1M day of My, 1999, and shall be completed within approximately 12 months from said date. The Company may request an extension of the above date from City in the event circumstances beyond the control of Company necessitates additional time for completion of such improvements, and such consent shall not unreasonably be withheld. SECTION 13. Drawings of In1grovements. Company shall furnish City with one set of as -built plans and drawings of the improvements to be made pursuant to the terms of this Agreement. SECTION 14. Limitation on Use. Company agrees to limit the use of the property set forth in Exhibit "A" to commercial uses as those terms are defined in the zoning ordinances of the City of Lubbock, and to limit the uses of the property to uses consistent with the general purpose of encouraging development of the designated Enterprise Zone during the term of this Agreement. SECTION 15. Recapture. The Company agrees to be bound by and comply with all the terms and provisions for recapture of abated taxes in the event of default by Company pursuant to law and as set forth in Section VII of the Guidelines and Criteria Governing Tax Abatement for Commercial Projects in Designated Enterprise Zones adopted by Resolution No. 5680 of the City Council of the City of Lubbock. SECTION 16. Certification, The Company agrees to certify annually to the governing body of each taxing unit that the owner is in compliance with the terms of the Agreement. SECTION 17. Compliance. The City may cancel or modify this Agreement if the Company fails to comply with the Agreement. AGREEMENT — M.D.M. INVESTMENTS, INC. Page 5 SECTION 18. Notices. Notices required to be given by this Agreement shall be mailed, certified mail return receipt requested, to the following addresses: CITY OF LUBBOCK City Manager P.O. Box 2000 Lubbock, TX 79457 M.D.M. Investments, Inc. Dolores Milhous 3506 34" Street Lubbock, TX 79410 AGREEMENT — M.D.M. INVESTMENTS, INC. Page 6 SECTION 19. Effective. Date. Notwithstanding anything contained herein to the contrary, this Agreement shall not be effective until such time as it shall be finally passed and approved. EXECUTED this 27th day of July , 199 9 . M.D.M vestme , Inc. olores Milhous ATTEST: Secretary CAB/G:/Tax Abatement/MDM Contract — June 4, 1999 AIFITEST: I �JL a Darnell, City cretary CONTENT: Kevin G. Vialker Business Lia on Officer APPROVED AS TO FO cm ald G. Vandiver First Assistant City Attorney AGREEMENT— M.D.M. INVESTMENTS, INC. Page 7 EXMIT "A!' APPLICATION FOR COMMERCIAL TAX ABATEMENT IN LUBIi_OC-TTE^ S FiUNG::INSTRUCTIONS - This-:opplication must be filed prior to the anticipated commencement: of const yctlon zf Imorovernents :or the Installation of equipment. This filing acknowledges familiarity. and assumed.conformance with "GUIDELINES AND CRITERIA GOVERNING COMMERCIAL TAX ABATEMENT' (Copy:attached). This:application will become.a part of -any later agreement or contract, and knowingly false representations* thereon will be grounds for the voiding of any later agreement:or contract. ORIGINAL COPY OF THIS APPLICATION AND ATTACHMENTS SHOULD BE SUBMITTED TO: City of Lubbock Business Development Department P.O. Box 2000 162513' Street Lubbock, TX 79457 (806) 775-2980 II Section 1 — APPLICANT INFORMATION II Date of Application: 5 ! _/ 99 Applicant Name: Dolores M i l h o u s Company Name: M.D.M. Investments, Inc. Address: 3506 34th, Lubbock, TX 79410 Phone: (806) 799-1365 Fax: (806) 799-1360 Applicants Representative on this project: Hallmark & Associates, Inc. Name: Wes Hallmark Address: 8207 Hudson Ave., Suite C, Lubbock, TX 79423 Phone: (806) 797-2190 Type of Ownership: r ] Corporation Total Current Number Employees: Fax: (806) 797-4160 M [ ] Partnership [ ] Proprietorship Corporate Annual Sales Per Year. N/A M.D.M. Investments, Inc. is a corporate investment lding company. ED Section 11 - FACILITY INFORMATION (a) This application is fora: [ ] New Facility [ ] Expansion Y X Modernization (b) Type of Commercial Facility for which abatement is requested: Office Building (c) Minimum economic qualification for tax abatement - place a check beside the statements that apply to your project: [X] Minimum investment at least $250,000 [ ] Creation of at least 10 new permanent jobs 1[ ] At least 30% of the new employees to be hired by the business will be residents of any enterprise zone within the governing body's jurisdiction 1 (d) [X] The existing facility to be modernized or expanded or the property where the new facility is to be built is located ins designated Enterprise Zone. (e) Address of proposed facility: 1206 14 t h Street, Lubbock, TX II(f) Legal description of proposed facility: S e e a t t a c h e d (g) Describe product or service to be provided: Section Ili FACILITY DESCRIPTION Please attach the following: II Attachment 1 (a) A general description of the improvements to be undertaken (example: build new retail store at 4501 Peach Street and install new furniture and fixtures). (b) A descriptive list of the improvements for which tax abatement is requested, including: (1) cost and description of construction and location of all proposed Improvements of the Real Property or Existing Facility, and; (2) list of new equipment and cost of the equipment. (c) A list of any and all Tangible Personal Property presently existing on the Real Property or located in an existing facility. (d) A proposed time schedule for undertaking and completing the proposed improvements. Appficationfor Commercial Tax Abatement In Lubbock, Texas - Page 2 I Attachment 2 I (a) A site map Indicating the approximate location of improvements on the Real Property Facility or Existing Facility together with the location of any or all Existing Facilities located on the Real Property or Facility. Attachment 3 (a) A statement of the additional value to the Real Property or Facility as a result of the proposed improvements. (b) A statement of the assessed value of the Real Property, Facility or Existing Facility for the base year (attach tax assessment for property from the Lubbock Central Appraisal District). (c) Information concerning the number of new jobs that will be created or the number of existing jobs to be retained as I a result of the improvements undertaken. II.Section IV ECONOMIC11VIPACT INFORMATION Part A — Current Investment in Existing Improvements: Part B — Permanent Employment Estimates: _$1.000.000 (1) If existing facility, what is the current plant employment: o n e * ( B u i 1 d i n g Engineer) (2) Estimated number of new jobs to be created and time frame for creation of jobs: New Jobs 4 * (Security, Valet Time Frame 18 months etaries) (3) Estimated number of retained jobs: Five (4) Opening of Improvements: (Monthf S e 0 c t . of (Year) 19 9 9 * Current & future employees are and be employees of the property management company who has the building under management contract. Part C — Permanent Payroll Estimates: (1) (2) (3) If existing facility, what is the current plant payroll: $1 , 7 0 0.0 0 m o . Estimated amount of new payroll: $ 6 , 0 0 0.0 0 m o . Estimated amount of retained payroll: $ 7 , 7 0 0.0 0 m o . Part D — Construction and Employment Estimates: (1) Construction start: Month MMay. _ Year 19 9 9 (2) Number of construction jobs: At Start 6 0 Peak 2 0 0 Finish 6 0 (3) Number of man-years: Total project is estimated to employ 175-200 worker 1/3 of which would be on site at a time and working an average of 6 hours pe day over 9-12 mo. period. Total estimated man hours is 95,000. Appfication.for Commercial Tax Abatement in Lubbock, Texas - Page 3 Part E — School District Impact Estimates: Give Estimated number of Children added to ISO's N / A Part F — City Impact Estimates: (1) Volume of treated water required from City 12, 433.33* gallons per day. (2) Volume of effluent to be treated by City � gallons per day. * Current estimated consumption. Part G — Estimated Appraised Value on Site: Value of Existing Facility Before New Construction (From Central Appraisal District) II Value of New Improvements LAND 168,300 ME PERSONAL PROPERTY N/A N/A Estimated Total Value After 168,300 ' ' N / A Improvements Part H — Variance: (a) Is a variance being sought under Section IV 9(d) of the'Guidelines"? (b) If "Yes", attach any supplementary information required. IMPROVEMENTS 796,183 4,270,000 5,066,183 [ ] Yes [X] No Sewn V • :DECLARATION 141 To the best of my knowledge, the above information is an accurate desoAon o 1ft" ject detqfii Company Official Signature Dolores Mi l hous Printed Name of Company Official President Title of Company Official Application for Commercial Tex Abatement In Lubbock, Texas - Page 4 Exhi�" Tract Z• r Lots One (1), Two (2), and Three (3), Sixteen (16), Seventeen (17), Eighteen (18), Nineteen (19), and Twenty (20), Block One Hundred Sixty- three (163), of the Original Town of Lubbock, Lubbock County, Texas, according to the Map, Plat, and/or Dedication Deed thereof, recorded in Volume 5, Page 384, Deed Records of Lubbock County, Texas. Tract 11: • An underground easement described by metes and bounds as follows: BEGINNING at a point which is 2 feet East of the back of the curb along the East side of Avenue L, said point also being 8 feet more or less West of the Southwest corner of Lot 5, Block 163, Original Town of Lubock, Lubbock County, Texas; THENCE North a distance of 130 feet to a point; THENCE around a curve to the right having a radius of 8 feet to a point 2 feet South of the curb along the South side of 14th Street, said point being approximately 8 feet North of the Northwest corner of Lot 1, said Block 163; THENCE Easterly parallel to the South curb of 14th Street to a point approximately 8 feet North the Northeast corner of Lot 20, said Block 163; THENCE around a curb having a radius of approximately 8 feet to a point 2 feet West of the West curve of Avenue K and said point being approximately 8 feet East of the Northeast corner of Lot 20, said Block 163; THENCE South a distance of 130 feet, more or less to a point 2 feet West of the West curb of Avenue K, said point being approximately 8 feet East of the Southeast corner of Lot 16, said Block 163; THENCE West a distance of 8 feet more or less to the Southeast corner of Lot 16, Block 163; THENCE North a distance of 130 feet more or less to the Northeast corner of Lot 20, said Block 163; THENCE West a distance of 125 feet to the Northwest corner of Lot 20; THENCE South a distance of 130 feet more or less to the Southwest corner of Lot 16 of said Block 163; THENCE West a distance of 20 feet to the Southeast corner of Lot 5, of said Block 163; THENCE North a distance of 130 feet more or less to the Northeast corner of Lot 1, said Block 163; THENCE West a distance of 125 feet to the Northwest corner of said Lot 1; THENCE South a distance of 130 feet more or less to the Southwest corner of Lot 5, of said Block 163; AND THENCE West a distance of 8 feet more or less to the POINT OF BEGINNING; An aerial easement described by metes and bounds as follows: BEGINNING at a point which is in the Southeast corner of Lot 5, Block 163, Original Town of Lubbock, Lubbock County, Texas; THENCE North a distance of 130 feet, more or less to a point which is the Northeast corner of Lot 1, said Block 163; THENCE West a distanceof125 feet, more or less to a point which is the Northwest corner of said Lot 1; THENCE North a distance of 8 feet, more or less to a point which is 2 feet South of the South curb of 14th Streets THENCE East parallel to the. South curb of 14th Street a distance of 270 feet, more or less to a point that is 8 feet more or less North of the Northeast corner of Lot 20, said Block 163; THENCE South a distance of 8 feet, more or less to the Northeast corner of said Lot 20; THENCE west a distance of 125 feet more or less to the Northwest corner of said Lot 20; THENCE South a distance of 130 feet more or less to the Southwest corner of Lot 16, said Block 163; THENCE West a distance of 20 feet more or less to the POINT OF BEGINNING. TRACT III. Lots Four (4) and Five(5), Block one Hundred Sixty-three (163), Original Town of Lubbock, Lubbock County,Texas according to the Map, Plat and/or Dedication Deed thereof, recorded in Volume 5, Page 384, Deed Records of Lubbock County, Texas. TRACT IV: Lots Eleven (11), Twelve (12), Thirteen (13), Fourteen (14), Fifteen (15), Sixteen (16), Seventeen (17), Eighteen (18), Nineteen (19), and Twenty (20), Block One Hundred Forty -Seven (147), Original Town of Lubbock, Lubbock County, Texas according to the Map, Plat, and/or Dedication Deed thereof, recorded in Volume 5, Page 384, Deed Records of Lubbock County, Texas. ATTACHMENT NO. 1 Omni Office Centre (Formerly Citizens Tower of Lubbock) 14" & Ave. K Lubbock, Tx A. GENERAL DESCRIPTION OF IMPROVEMENTS TO BE DONE. M.D.M. Investments, Inc. has undertaken the redevelopment of the Citizens Tower of Lubbock to bring the building up to a Class A multi tenant office building. The building Is located on the east one half of the city block between 13"' and 14"' Streets and between Avenue K and Avenue L. The property Is an 11 story office tower and Includes a full basement a two story annex to the north of the tower and a five level parking garage across 141' Street connected to the building by a tunnel. The two story portion of the property was originally constructed In 1957 and 1958. The 11 story office tower was added In 1963 and 1964. Norwest Bank, as a tenant, occupies the basement,10floor and 2nd floor of the north annex, the first floor of the tower and one half of the third floor. Total square footage of the building Is approximately 120,000 square feet. The building name has been changed to Omnl Office Centre to reflect the new Image. B. COST AND DESCRIPTION OF IMPROVEMENTS The current estimated Improvement costs are $4.27 million and Improvements will Include the following: 1. Life Safety and Code Compliance. The entire facility will be brought up to current fire codes for high rise buildings Including Installation of a fire sprinkler system, smoke detectors, fire dampers In air conditioning ducts, emergency / exit lighting, creation of areas of refuge around elevator lobbies, Installation of fire rated doors, fire sealing openings In fire rated structures, and addition of a second means of egress on all floors. This work will be done on a per floor basis as the project Is leased up but In no event longer than over a five year period due to current tenant leases. All elevators will be brought up to current state codes and made ADA accessible. All restrooms will be remodeled on a per floor basis to bring them up to ADA compliance. When all Improvements are completed this will be the only high rise building In Lubbock that meets all of the new building code requirements for high rise office buildings. 2. Exterior Work. Architectural design elements will be added to the building to change the exterior elevation. The turquoise colored spandrels will be painted to match the color of the smoked glass windows to give the appearance of a glass and white marble building. The panels that make up the walls of the parking garage will be painted with a faux finish to match the white marble elements of the structure. Other exterior work will Include extensive landscaping, site lighting, new sidewalk treatments, and the addition of new building entry canopies. 3. Interior Work. The primary building entrance Is being relocated to the south side of the building and expanded for better access from the parking garage and to the tower elevators. The first floor lobby will be completely remodeled. Elevator lobbies and common halls on other floors will be remodeled on a per floor basis as lease up Is accomplished. Tenant Interiors will be remodeled to a building standard throughout. Other Interior Improvements include upgrades to the building's heating and air systems, Installation of a building energy management system, Installation of a building security system (surveillance cameras and secured building access after Omni Office Tower - Rehab Costs & Proforma Item No_ Description 1 Fire Sprinkler Main Riser SLS Estimate of Costs $150,000 2,4,5 Elev. Lobbies, area of refuge, sprinkler sys.for those areas $216,000 3 Elevator cabs - life safety $10,000 6 Install fire alarm system $150,000 7 Smoke detectors / fire dampers . FL i ; 1; ; $125,000 8 Upgrade emergency / exit lighting $70,000 9 ADA restrooms - 2 floors ( Ft 2 56, $30,000 10 Upgrade / remodel floors 2 & 6 $320,000 11 Fire Seal openings in fire rated structures $40,000 12 2nd means of egress floors 2 -11 $20,000 13 Upgrade doors, frames, etc. egress areas $100,000 14 Tunnel corridor upgrades Total Life Safety Remodel Costs $1,271,000 Landscaping, new entrances, site lighting, architectural changes, painting spandrels. 608,500 Total Estimated SLS Contract $1,879,500 Parking Garage - remove panels & retrofit 60,000 Parking Garage lighting 20,000 Life safety (sprinklers, fire dampers, a&d, fire doors, corridor walls, etc.) floors 3,4,5,7,8,9,10,11 @$80,000 per floor 640,000 Restroom remodeling - non ADA floors @ $15,000 floor 120,000 Tenant space remodeling: Floors 3,4,5,7.8,9.10,11 Carpet, paint, finishes @ $5 psf Electrical & Lighting @ $10 psf - complete replacement Mechanical - duct work @ $10 psf Ceilings @ $1.25 psf Total estimated tenant interiors = $21.25 psf (assuming 1/2 of electrical & lighting per floor can be reused & 7670 usable sf per floor) = $167,237 fl x 7.5 floors 1,254,281 Elevators - ADA & codes compliance 80,000 HVAC improvements: Coils 50,000 Building Management / Energy Management System 40,000 Plus lease up & marketing costs 125,000 Total Estimated Additional Cost $2,389,281 Plus Original Acquistion Costs $1,000,000 TOTAL ESTIMATED PROJECT COSTS $5,266,781 OMM OFFICE CENTRE nM"dinW Projected Fmtdfn Timellee 1999 � 2oeo l NX dtsnm J* August September letcbet Movembsc Deeemhnc dantraty February lllartb_ ARM Jane J* Atrgttst Sept-embec Total mm WvdLnncdptbm I HVAC Coils $61,000 (Funds on hand, not Included In draw request) 2 Elevator Upgrade S60,000 $20,000 3 Fite Pump Installation; $30,000 $60,000 $60,000 Asbestos Abattement - retated to the phase; Chiller Imuhaim (3150,0m)-est. total 4 6th Floor Renovation Life Safety; Pmfing Manage; Building Faeede dt Llo tg; Paint Tower (5950,000) 5 Tower Exterior Facade; Sfte work at Laadseap* New Entries; lot Floor Elevator Lobby (S650,000) 6 2nd Floor Renovation (S300.000) S75,000 S75,OW S100,000 S100,000 $200,000 S200,000 S100,000 S100,000 $200,OM S10o,00o $100,000 $100,000 $50,000 $50,000 S75,000 $100,000 $125,000 $80,000 $150,000 S950,000 $600,000 S300,000 TOM $60,000 $50,000 $60,000 S135,000 $150,000 $400,000 $325,000 $300,000 S300,000 $150,000 S130PO SO SO SO SO So SO S2,OSO,000 • Above mounts do not hxhade any work an tenant floors other than floor 2 dt 6, nor asbestos abatement as raptked for other floor. These will be done on a'Lesse-p• basis. ix'2 armuntent irry nveTnr.1 - 1 .1 .. ATTACHMENT 3 W, A [j* Ob 1181 I ' i "I'M 0 M INVESTMENTS INC 3506 34TH ST "'LUBBO]CKi TX 79419 1PAYERSM D M INVESTMENTS *CmomLux 0=JPEMLTYfflff A11OMMME101HP TAXABLE AMT PAIIJ U04. be- 27 18MAI R 0.010 ii-L1110.60 0.00 11 0. 00 0.00 724o 935 724,935 ha: b 718.7 5 60. 53 t". 1. 100 100.00 e -' e 0 0:00 724,935 .724,935 11345:0 60.1 DUE Fox "L"ID M-ma R112932 (188864) 12 /;1 �;5/ �98 00 ;1;77r:111 7. P. CRIS T LUBBOCK ELK 147 L 11-M CZM443 OpEluum _;-I spar„ LDT 12159BLID 121598L LUBBOCK CENTRAL APPRAISAL DISTRICT 1715 26TH ST - PO BOX 10568 498-3568 OF- PrI41,6072XT 500 TAX RECEIPT i1998 1936758 ENTITY RatNTATE4ENTIA. ORONXTAX - DWJPENALTYAW MIMMYMSOT-M TAXABLE AMT PAII L;A;v OF Bom:i WBBOCK WT;6PITAL VOCK 19D IBPIILAINS WATER DIST. W: iacww as to 11. IV7 186 11 0 991 44" 861 I 11.5650 -:�' ' '16615 0.00835 -16615 sa em: 129. 1 U46 05 10:92 O.-Im 0.00 0.00 .1-0 00 0:00 0.0 - 1:0 so 0.00 0.00 a 0,738 13 30,738 130,738 130,738 . E32. 1290 E046.0 110.9 I CITIZENS TOWER OF LUBBOCK #1 LTD 1406 14TH ST #602 LUBBOI TX 79401 R115519 (178986) CRIS T LUBBOCK ELK 163 L 1-3 & 16-20 00378424 DATE Pw TIM Lpm 12/15/98 3177.11 opfpaw "TCH LDT 12159OLV PAYER:N D IN INVESTMENTS ''LUBBOCK CENTRAL APPRAISAL DISTRICT 11"1715 26TH ST - PC BOX 10568 TAX RECEIPT jjq568 110,962-4607XT408i 119981 1936763 ENTRY Rat #TATEMENT ILD. ORIG NAL TAX V=JPEN4TY/JNr A711"Of"Kso"A TAXABLE AMT PAIBQCFiI r6HHIOSOIT ,a.* so �V6TERDiSi. 71 4 ,Rf'P336654;'*'-,'-A ;fN52336 I 111J3 6 W410 0V.01000 - .--0.00 olopts,'salaew 00 19 R37733 1188864) MM D 9 INVESTMENTS INC CRIS T LUBBOCK ELK 163 L 506 34TH ST 4 9 5 30198056 LUI TX 79410 OMPAW 10TAL Pom 12/15/98 2644.39 OP&PAWN *no" LDT 121599ul LA 1 04 FAYERM V K INVESTMENTS Citizens Tower Property Taxes (Omni Office Centre) Property tax ID R 112932 Land 95,175 Block 147 Imp. 629,760 Lot 11-20 R 115518 Land 58,500 Block 163 Imp. 72,238 Lot 1-3, & 16-20 R 37733 Land 149625 Block 163 Imp. 94,185 Lot 4 & 5 $964,483 Total Land $168,300 Total Improvements 7969183