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Home My WebLink AboutResolution - 2020-R0229 - Downtown Facade Grant, Metro Towers Housing Partners, LPResolution No. 2020-RO229 Item No. 7.5 July 28, 2020 RESOLUTION WHEREAS, pursuant to Article IV, Section 5 of the Amended and Restated Bylaws of the Market Lubbock Economic Development Corporation (the "Corporation"), the City Council of the City of Lubbock (the "City Council"), as the Corporation's authorizing unit, has the authority to approve all programs and expenditures of the Corporation; and WHEREAS, the City Council finds that it is in the best interest of the public to approve the program or expenditure, as proposed to the City Council by the Corporation, as set forth in Exhibit "A" attached hereto and incorporated herein by reference; NOW THEREFORE: BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the Downtown Fagade Grant program or expenditure of the Corporation, in the amount set forth in Exhibit "A" attached hereto and incorporated herein by reference, to be provided to the Metro Towers Housing Partners, LP, is hereby approved pursuant to Section 5 of the Amended and Restated Bylaws of the Corporation. Passed by the City Council on Jules, 2020 "lar - DANIEL M. POPE, MAYOR ATTEST: <QdAt't, - Re ca Garza, City S re ry APP VED AS TO CONTE I Brianna Gerardi, Business F evelop ent Director APPROVED AS TO FORM: K lli Leisure, Assistant City Attorney �ccdocs/REs Market Lubbock DT Facade Expenditure — Metro Towers 706.20 Resolution No. 2020-RO229 RE 20-28 RESOLUTION APPROVING METRO TOWER HOUSING PARTNERS, LP AT 1220 BROADWAY DOWNTOWN FACADE & PERMITTABLE GRANT THE STATE OF TEXAS COUNTY OF LUBBOCK At a regular meeting of the Board of Directors of MARKET LUBBOCK ECONOMIC DEVELOPMENT CORPORATION, INC., a Texas nonprofit corporation (MLI), on Wednesday, June 24, 2020, held in conformity with the bylaws, after due notice as therein provided, a quorum being present and acting, the following resolution was unanimously adopted: WHEREAS, MLI presented to members of the Board the proposal of a possible Economic Development Grant and Contract to Metro Housing Partners, LP, who are renovating the NTS building at 1220 Broadway, located within the Downtown TIF. This project is an adaptive reuse of the existing 20-story NTS office tower in downtown Lubbock to a mixed -use building of commercial, residential and hotel. The current owner, NTS, will continue to keep its offices on the 20d and 31 floors of the building and will lease the space from the Limited Partnerhsip. Floors 4 though 18 will be developed as apartments along with a portion of the ls' floor for common amenity space. Units proposed on floors 4 through 8 will be efficiencies, with one -and two -bedroom units, with 75 of the 89 units reserved for households with income at or below 60•/o of the Median Income with 15 units being at market rate apartments. The top 2 floors will be converted to a pocket hotel. To retain the historic integrity and quality for historic tax credits, no new walls may intersect with the window glazing. The scope of fairade work for this project includes new fencing and signage totaling $55,600 in facade expenses. The permittable work includes demolition work on all 20 floors and the renovation of each floor totaling $14,651,825 in permittable expenses for a total of $14,707,425. The terms and conditions of such Economic Development Grant and Contract, other than the normal terms and conditions applicable to all such Economic Development Grant and Contracts by the Corporation, are described generally as follows, to wit: Grant for Metro Housing Partners, LP , a Downtown Facade Grant for Metro Tower Housing Partners, LP totaling $25,000 and a Downtown Permittable Grant totaling $100,000 at 1220 Broadway, which is located within the Downtown TIF, once proof of payment has been submitted. WHEREAS, The Board of Directors of MLI finds that an Economic Development Grant and Contract offering the incentive for providing assistance to renovate their facility, meet and comply with the qualifications and purposes of the Corporation for the granting of such Economic Development Grants and Contracts. Upon Motion by Director, Mr. Calvin Davis and Seconded by Director, Ms. SuzAnn Kirby, IT WAS RESOLVED that MLI offer and, if accepted by Recipient, enter into an Economic Grant and Contract with Metro Tower Housing Partners, LP. for the improvements for the NTS building at 1220 Broadway, Lubbock, Texas. This Economic Development Grant and Contract will be on the normal terns and conditions of such Downtown Grant Program and Contract offered by MLI to existing businesses and business prospects and authorize the CEO to enter into and execute all documents related to the Economic Grant and Contract. John Osborne, President & CEO �0 Linda Davis, Secretary MARKET LUBBOCK, INC. — DOWNTOWN GRANT PROGRAM 1220 Broadway (Metro Tower Housing Partners, LP) TOTAL COMBINED SCOPE OF WORK = $14,707,425 COMBINED GRANT = $125,000 TOTAL FACADE SCOPE OF WORK = $55,600 FA9ADE GRANT = $25,000 TOTAL PERMITTABLE SCOPE OF WORK = $14,651,825 PERMITTABLE GRANT = $100,000 M A R K E T LUBB(SOCK. Downtown Grant Program Presented to MLl Board June 24, 2020 Project 1220 Broadway (Facade and Permittable) Metro Tower Housing Partners, LP is renovating the NTS building at 1220 Broadway and located within the Downtown TIF. This project is an adaptive reuse of the existing 20story NTS office tower in downtown Lubbock to a mixed -use building of commercial, residential, and hotel. The current owner, NTS, will continue to keep its offices in floors 2 through 3 of the building and will lease the space from the Limited Partnership. Floors 4 through 18 will be developed as apartments along with a portion of the first floor for common amenity space. Units proposed In floors 4 through 18 will be efficiencies, one and two bedroom units. Seventy-five of the 89 units are reserved for households with income at or below 60% of the Median Income. Fifteen will be market rate apartments. The top two floors will be a pocket hotel. To retain the historic integrity and qualify for historic tax credits no new walls may intersect with the window glazing. This creative solution by the architects is an open floor plan with open efficiency floor plans. The scope of fagade work includes new fencing and signage totaling $55,600 in facade expenses. The scope of permittable work Includes demolition work on all 20 floors and the renovation of each floor totaling $14,651,825 in permittable expenses for a total expense of $14,707,425. The MLI Board is being asked to consider a Downtown Facade Grant for Metro Tower Housing Partners, LP totaling $25,000 and a Downtown Permittable Grant totaling $100,000 at 1220 Broadway. M A R K E T LUBB(*1%1JK. Downtown Grant - Application The information requested on this tone will be used by Market Lubbock, Inc. for analysis of your project, MU CONTART INFORMATION Jorge Quirino - Special Projects Market Lubbock, Inc. 1500 Broadway, Sixth Floor, Lubbock, TX 79401 Phone: 806.749.4500 Email: lorge0markeOubbock.orn *Applications must be received by MU prior to pulling a City permit or starting construction 'Scope of work must be approved by the City of Lubbock (more detail on page 3) Project Property Address 11220 BroadwaX Lubbock, TX 79401 GENE TION ABOUT THE COMPANY Company Name Street Address City, State, Zip Federal Tax ID # Name Title Phone Number Email Metro Tower Housing Partners, LP 1077713arkle Street, Suite 140 Overland Park, KS 66211 Included in Original 11.8.19 application and transferred to OneNote on 10.17.19 JO Date Submitted 10/11/19 COMPANY BACKGROUND List any person or entity that has at least 5% ownership in the Applicant Company - Name Percent Nama Dare+nnt JCM Ventures, LLC 70% Jacob Mooney 100% Diva Imaging LLC 30% 1 Sallie Burchett 100% salhe@structuratexas.com 512.473.2527 Is the firm registered with the Secretary of State's Office to do business in Texas? Yes !� Are you in good standing with the State of Texas? Yes [] If you answered "No" to either of the above two questions, please explain Is the firm and/or principals delinquent on any federal, state or local tax obligations? No Ili Has the company or principals of the company had prior bankruptcies or lawsuits? No ; i If you answered "Yes" to either of the above two questions, please explain i MLI 1/3119 INFORMATION ABOUT THE PROJECT Project Name (MLI Use) Property LCAD R# Property Ownership: Grant Type (Check One): Metro Tower Lofts R 107746 Own estimated 12-31-19) Permittable Lease Owner Approved Facade uetaiiea Project bummary and Descri tion of Work: Metro Tower Lofts is an adaptive reuse of the existing 20 story NTS office tower in downtown Lubbock to a mixed use building of commerical, residential, and hotel. The current owner, NTS, will continue to keep its offices in floors 2 through 3 of the buildling and will lease the space from the Limited Partnership, Floors 4 through 18 will be developed as apartments along with a portion of the first floor for common amenity space. Units proposed in floors 4 through 18 will be efficiencies, one and two bedroom units. Seventy-five of the 89 units are reserved for households with income at or below 60% of the Median Income. Fifteen will be market rate apartments. The top two floors will be a pocket hotel. To retain the historic integrity and qualify for historic tax credits no new walls may Interesect with the window glazing. This creative solution by the architects is an open floor plan with open ProjecVs NAICS Code (North American Industry Classification System) 1631110 NAICS Description Lesson; of Residential Buildings and Dwellings. Definition of NAILS Code 531110: This City Permit Total Amount (if applicable) Summary of Expenses(Schedule of Values attached)MLI Projected ApprovedMLI Reimbursement USE Fa ade $55,600 $25,000 Permittable $14.651,825 $100,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 0 A$14,707.42S $125,000 rrnai alas will ne usea co calculate the project cost and grant amount. MLI 1/3/19 Scope of work must be approved by the City of Lubbock The link below includes the City documents used to determine compliance: htts;fl i,l bb k side artments/ lannin uldellnes The property owner or lessee Is responsible for communicating directly with the City of Lubbock to determine if any aspects of the scope of work require permits or public improvements. Public Improvements may be required If the project meets all four of the following criteda. 1) Lbcated within the CBD TIF area; 2) Valuation of $100,000 or more; 3) Scope of work affects the facade/exterior of the building and surrounding area 4) R building permit is required. CITY CONTACT Director of Business Development Office 806.776.3082 DOCUMENTS REQUIRED FROM THE APPLICANT At the time of application: Application (must be received prior to construction started or permits pulled) Written City Approval of: Permit Needs Public Improvement Needs Detailed/itemized Construction Bids or Schedule of Values Before Picture (prior to construction beginning) Architectural Plans (if applicable) Architectural Renderings (if applicable) After completion of construction: Applicant Signature; Date: Certificate of Occupancy or Similar City Document (Permit) City Written Verification of Guideline Compliance (Non -Permit) Proof of Payment: PAID Invoices Processed Checks, Bank or Credit Card Statements matching PAID Invoices MLI 1/3/19 'hk rl�l I 2 f� z f7•-L�, a tol. Ci ofCITY of LUBBOCK Kuboex TEXAS PERMIT RECEIPT Page I of I APN: 6670000011700008000 DATE ISSUED: 02-Mar-2020 PERMIT: COMM-088705-2020 SCOPE: Commercial Building Alterations SITE ADDRESS: 1220 Broadway SUBDIVISION: ORIGINAL TOWN LUBB( CITY. Lubbock Contact ADMIRE LP Comnany Eastland Properties, I.P Date Fee Name Fee Notes 06-Jan-2020 Advanced Building Permit Plan Review Fee (50.00) 06-Jon-2020 Comm - AlterauonlRemodehng 21-Feb-2020 Building Pcrmit Plan Review Fee 251�o of Pcrmit Ices PARCEL OWNER: N T S MANAGEMENT CC ADDRESS: 122013R0AD WAY CITY/STATE /ZIP: LUBBOCK, TX 79401-320 Role Applicant Paid To Date $50.00 55,377.50 S1,294.38 Biline Contact Yes Balance Due $0.00 $0.00 50.00 Total 50.00 Pant Number Payment Date Payment Type Payment, Note TransactionTvne RillinP-Contact Payment Amount TRC-110469-06-01-2020 01AM020 Check 12518 Fee Payment MIKE KLEFFNE $50 00 Fee Name CREDIT DEBIT ARIOUNT ACCOUNT ACCOUNT PAID Advanced Building Permit Plan 1006222 1001003 $50 00 Review Fee (50 00) Payment Number Payment Datc Pa_vment _7y-Pc Payment Note Transaction Tyne BillingContact Payment Amount TRC-114862-02-03-2020 03/02/2020 Check 14030 Fee Payment ADMIRE LP $6.671 gg Fee Name CREDIT DEBIT AMOUNT ACCOUNT ACCOUNT PAID Bui'ding Permit Plan Review Fee 100.6222 1001003 51,294 38 Comm - AlterahanlRemodeiing 100.6222 1001003 $5,377 50 1 City of F46 CITY OF LUBBOCK Lubbock ALTERATIONS COMMERCIAL BUILDING TEXAS Monday, March 2, 2020 2.29PM Page 1 of 2 Date Entered Date Expires Permit —Typ umber Project Numbe 02-Mar-2020 3 l -Aug-2020 COMM-088705-2020 .a,tM1imk�R'.Nl1FY�r'!r•+.�a. ��ia,t MF! Parcel PIN: 41249 Address: 1220 BROADWAY Zip. 79401 Units: 95 Subdivision: ORIGINAL TOWN LUBBOCK legal Detail: OR]G I LUBBOCK BLK 117 L 1 & 2 & 6 THRU 9 Zone Type of Construction Occupancy ]-A R-2 1.wnavn..w h.�ti.•.s.rwrr•4 W�.Yw. .w.wir sr.a��h +�..�..-3.��•iww�.�. w�[a.� Proposed Development 437 -COMMERCIAL ADDITIONS !ALTERATIONS MIN. FINISHED FLOOR ELEV. Not Determined PER TABLE 403 1 7,3, 2009 IRC AMENDMENTS. FLOOD PLAIN? ORIG T LUBBOCK BLK 117 L I& 2& 6 TI DESCRIPTION COMMENTS - COMMENTS; DESCRIPTION CORRECTIVEACTION COMMENTS RECOMMENDATION TO REQUEST INSPECTIONS CALL (806)775-3159 OR (806)77S-3174 FOR BUILDING INSPECTION AND (806)775-2589 FOR WATER UTILITIES. Revised 41h floor plan will have to be submitted to building safety for approval as per GQ - 2/29. 2020 Valuation square Footage C of O Required $2,390.000.00 167,739.00 YES City of CITY OF LUBBOCK Lubbock ALTERATIONS COMMERCIAL BUILDING TEXAS Monday, March 2, 2020 2.29PM Page 2 of 2 Date Entered Date Ex fires Permit _T R� _ umber ProjlectNumber 02-Mar-2020 31-Aug-2020 COMNI-088705-2020 Professional .fir. -. - State License: ACTIVE Professional License: Kequired Inspections Fire Final Building Final Zoning Final Slab Building Framing Footing Notice/Signature I hereby certify that the above statements are true facts concerning the construction of the building or other work forwhich this application is made. I also understand that the issuance ofthis permit does not relieve the permit holder from the responsibility of complyingwithallapplicableCityof[.ubbockregulations,codesandordinancesandthat failuretocomplymaysubjectthepermit holder to criminal and/or civil liability. Issuance ofthis city permit does not insure compliance with state or federal regulations, rules or laws. I understand that it is the respons ib ilityofthepermitholderorhis agcntstomeetapplicablestate and federairequirements.Thescrequirementsmayinclude, butarenotlimitedto, those imposedbytheAmericanswithDisabilities Act,theU 5 Environmental ProtectionAgency,thcTexas Architectural Barriers Act, the Texas Department of Licensing and Regulation, the Texas Department of health and the Texas Commission of Environmental Quality This list is not all-inclusive and other federal or state requirements may be applica Customer Signature:_ tth Permit Issued By: 170303 CONSTRUCTION BUDGET (NRA) Living SF 81.029 Common SF/Floor #,922 C unman 5F 41h through 18th Boors 28,030 Basement On Find Floor 01325 TOTAL Under Roof 5F DIV Sl5F ((dross) S1SF (NRA) Cast 1 Cleaning 15 604 50 $0.12 $0.19 1 4 2 Abatement Asbestos remedadon 376 651.69 Management let 225 00 6S 3 AsphaR Parking AsphaEt parking lots E paving repair 195 614.00 Exterior street and parkleg lighting 105 701.18 SntpUq 10 969.50 Fences 110,621.45 Curb gutter and concrete 29.741.25 Landscape 34 683.71 53.01 $4.78 307,23, 4 Demolition Rough Demolhan 936.557.50 Construction Clean Up 46,473.60 Construetlon Debris Container 83,739.00 1 19 1, 5 Concrete 6 Masonry Saw Cut and Floor Prop 25,833 56 Slatmoll hoe prop 67.316 42 Basement Floor Repair 26,651.25 Floor Patch and grind 108 34313 Fire escape stair roaders 6 513 72 93 Masonry Restoration 405.709 07 Plaster Restoration S4 075 00 ." , 7 Metals Intemal stairrve9 162.225.00 Stairs hand red 73 387.50 Hat Channel 40 448.10 Metal Framing 345151.46 Fire escape stairs 104.287.60 Roof guard rag and ladder cage 12.553.13 $6.74 11 8,062.68 8 Rough Carpentry (Wood Backing) 20,968.75 f0.23 36 2 , 9 Finish Carpentry Interior Doors 45.156.49 Interior Trim 5.407.60 Trim and Door Labor 81,396.33 1 63 , 10 Insulation 116.986 00 30.93 $1.47 118.26LOa 11 Roofing (TPO) 34,43204 0.27 $0.42 12 Doers and Hardware Unit Entry 23 S06 09 Stahvre0 31 SIBO0 Ramcto Storage 6 327 55 Chase and Closet 7.49335 Oeter Gammon Area 3360379 Sloretront 29.526 81 Common Area Hardware 29.16t.88 1371 163,139.33 13 windows Refurbishment and Restoration Z70.368 29 Interior Clean and Sea) 74,160 00 25 mtfinm 14 Suspended Ceiling 12,80226 solo $0.1612,602 2 15 Drywall Drywall 340.877.21 Tape texture 170.600 67 3.90 i6 31 511,657.88 16 Floor Palish and Seal 216.686.25 i1.69 , 17 Carpel Carpel We In Corridors 57,277.01 \rmyl Base 75 094.73 $1.03 $1.63132,371.7 18 Painting 261.436.52 3.23 2611.436AF 19 Terrazzo Restoration 6.100.00 $0.05 50.611 6,18OW 20 Cabinets Cabinets 165,337.78 Tops 20,495.15 Install Iabor 50.058.00 1.84 $2.91 236,890.93 21 Slgnaga 6,608,74 8 6.08.74 22 Bathroom and Closet Accessorlas Unit Hardware 28,976,62 114ire Shelving 48,21139 $0.60 $0.95 77,TaTr 23 FireExtingulshetv 9.05004 $011 , 24 Appliances 273.375 54 $2.13 $3.37 273,376 25 Wridow Coverings 69.270.08 0 26 Fire Alarm System Alarm 99.356 63 Access Control 59.991 58 1.24 Sl 97 169,349.2r 27 Elevators $60 062 50 .91 , 28 Plumbing 1.143.300 00 $8.90 1114.1111 1, a 29 Fie sprinkler 384 86143 30 HVAC 1646 000 00 $1202 $19.07 1, ,0 .00 31 Electrical 1 335 147 65 10.41 $16.51 1.336,147FW. 32 Special Equipment mel boxes MRS 30 Amazon HUB 15.450 00 WFI equipment 3071847 Chain 9nk Landry 38 470.50 $0.5o 1. ConiftetianSubLDW 647,24 i139 63 11.314.460.60 equirements isl 3-417—SAW Subtotal1 1, 6% OW07'sOverbead Suldefs Profs 35.23 i8 38 S7S,667.04 TGtMj GenstrWUMN Contimpricy 1"JI 67 1,111111,MUr Tool one c. Clancy i 1 Sl ,4 Construction CosWNt $143.697 Construction COMM W contingency) 41U.M2 LEf�p EDI V7i #1IL %I f1WL !. DE.NEOLIMN 1ST FLOOR PLAN �I..�w..., w I 4 m{ 0 1 � . -, L- Z+,� i r--r..r^tip..'�-r=c•_:-'c��Sjr-r_r-:--:=»�1--r-r-r-j1-,�.r--T--.--i--.-r-e-,�j � ttt ,� ■ frA ' e $ o a s I - IKhgltftl!!%l:r1lELuuRM.A.� rt Ntti! 1111■,1! �i P, If 11 ff-=1 ---]' L IST FLOOR It"VATION PLM C: ft J. A_j I�MS11FL1 LS I .fit L A T i 9Q1 � 11 r 1 ' +�a•i�. 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