HomeMy WebLinkAboutResolution - 2018-R0413 - Downtown Convention Hotel Developer Approval - 11/15/2018Resolution No. 2018-RO413
Item No. 6.20
i November 15, 2018
RESOLUTION
WHEREAS, on December 3, 2001, the City Council of the City of Lubbock (the `'City
Council") authorized and established the Central Business District Tax Increment
Financing Reinvestment Zone Board (the "TIF Board") in order to, among other things,
generate funds for Downtown Lubbock public improvements that benefit the City of
Lubbock (the "City"), its residents, and property owners; and
WHEREAS, at its meeting on February 28, 2018, the TIF Board heard a briefing from City
Staff regarding the City Council's desire that the TIF Board exercise oversight of a project
to bring a Civic Center Headquarters Hotel to Downtown Lubbock, and
WHEREAS, on March 8, 2018, through Resolution 2018-R0098, the City Council directed
the TIF Board, in partnership with City Staff and Management, to exercise oversight on a
project to bring a Civic Center Headquarters Hotel to Downtown Lubbock, with such
oversight including, but not being limited to, conducting competitive procurement
processes, negotiating various documents related to the project, reviewing the status of the
project, presenting recommendations to the City Council for consideration, and updating
the public, City Staff, and City Council on the progress of the project; and
WHEREAS, in response to the City Council's direction, the TIF Board Chair created a
subcommittee of four members of the TIF Board to oversee a process to receive Requests
for Proposals from certain qualified teams interested in developing a Civic Center
Headquarters Hotel in Downtown Lubbock; and
WHEREAS, the TIF Board subcommittee reviewed proposals, heard presentations, and
received clarification memoranda from responsive, qualified teams interested in developing
a Civic Center Headquarters Hotel in Downtown Lubbock, and chose the top-ranking team
to present to the TIF Board; and
WHEREAS, the TIF Board, at its meeting on October 24, 2018, heard from the
subcommittee's selected team, and the TIF Board unanimously approved a motion to
recommend that the team be presented to the City Council by the TIF Board as the potential
developer of a Civic Center Headquarters Hotel in Downtown Lubbock; and
WHEREAS, the City Council has heard from the TIF Board's recommended team, and the
City Council desires that the TIF Board begin negotiating the terms of a Development
Agreement with the TIF Board's recommended team, with such Development Agreement
providing the terms under which a Civic Center Headquarters Hotel will be developed in
Downtown Lubbock; and NOW THEREFORE:
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
1. THAT the City Council affirms the Central Business District Tax Increment Financing
Reinvestment Zone Board's recommendation that the development team led by Taj
Hospitality Management, LLC and GRACO Real Estate Development, Inc. be a partner
with the City of Lubbock in the potential development of a Civic Center Headquarters
Hotel to be developed in Downtown Lubbock.
2. THAT the City Council hereby directs the Central Business District Tax Increment
Financing Reinvestment Zone Board, with assistance by City Staff, and under the direction
of the City Manager, to begin negotiating the terms of a Development Agreement with the
team led by Taj Hospitality Management, LLC and GRACO Real Estate Development.
Inc., for the development of a Civic Center Headquarters Hotel in Downtown Lubbock.
Passed by the City Council on November 15, 2018
DANIEL M. POPE, MAYOR
ATTEST:
Rebec a Garza, City Secre
APPROVED AS TO CONTENT:
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tin P uitt, BusiArss Development Director
APPROVED AS TO FORM:
K lli Leisure. Assistant City Attorney
ccdocs RES. Adoptiun C131 TII Recommendation Convention Hotel Divclopers Taj Hospitality & GRACO Real Estate
October 31. 2018