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HomeMy WebLinkAbout85-00 RESOLUTIONRESOLUTION NO. 85-00 • MICROFILMED A RESOLUTION AUTHORIZING PAYMENT OF LOST PARKING SPACE REVENUE, THROUGH JUNE 2000, IN CONJUNCTION WITH THE TOWN CENTER TO BEKKA DEVELOPMENT IN THE AMOUNT OF $6,135. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSA S. Section 1. That the City Council hereby authorizes payment of lost parking space revenue, through June 2000, in conjunction with the Town Center to Bekka Development in the amount of $6,135. A copy of the Invoice is attached hereto marked Exhibit "A" and made a part hereof. guat`AND APPROVED this 201h day of June , 2000. - \. ATTEST: By: /— A},,,,, e eather Woodruff, City Cler APPROVED By: ed Hanna, Mayor NAME OF FILE: CROSS REFERENCE: Sae 4 8,5- Dd Date Contents of File Initials g-ll.&ST „A'' (Co/0y of -ZAi0nsc0 &g. co i/C .,ori _ J, Ki7/�/mif/X�7 �-� ' 4 -e -y. . iY� l-oo �/i, ./ A' .- ,. 4/ea,. ,X ,.n ,a / p C') /r2 -oz _ 1�i�,� j r1 7 lJ BEKKA DEVELOP NT CO. One West Mountain Street Fayetteville, AR 72701 BILL TO City of Fayetteville 113 W Mountain Fayetteville, AR 72701 EXHIBIIPA Invoice DATE INVOICE NO. 5/25/2000 2561 P.O. NO. TERMS MONTH Net on receipt DESCRIPTION AMOUNT Legal Costs-Davis,Cox & Wright 8/99-4/00 Parking Costs 8/99-6/00 8,410.35 6,135.00 Total $14,545.35 EU{ suu m X 2 w "' FAYETTE S LLE THE CITY OF FAYETTEVILLE, ARKANSAS • To: City Council From: Mayor Fred Hanna Date: June 8, 2000 Subject: Settlement with Bekka Development Co. Bekka Development Co. is requesting reimbursement of legal expenses incurred in conjunction with the Town Center construction and for revenue shortfall on their rental parking spaces. Their invoice number 2561, dated May 25, sets out the costs as follows: Legal Costs - Davis, Cox & Wright 8/99 thru 4/00 Parking Costs - 8/99 thru 6/00 Total Cost to the City $ 8,410.35 $ 6,135.00 $14,545.35 Based on their interpretation of the lease signed between Bekka Development Co. and the City on October 22, 1998, they are requesting consideration of the above claim. 113 WEST MOUNTAIN 72701 501-521-7700 FAX 501-575-8257 • Davis, Cox & Wright PLC Customer Balance Detail Type Date Num Bekka Corp. Williams, et al v city of Fayettv & Bekka Invoice Invoice Invoice Invoice Invoice Invoice Invoice Invoice Invoice 8/31/99 9/30/99 10/26/99 11/29/99 12/30/99 1/31/00 2/29/00 3/30/00 4/27/00 1474 1655 1813 1998 2212 2361 2525 2722 2892 Account Class 2021 -A/R 2021 -A/R 2021 -A/R 2021 -A/R 2021 -A/R 2021 -A/R 2021 -A/R 2021 -A/R 2021 -A/R WJB WJB WJB WJB WJB WJB WJE WJB WJB Amount 811.50 836.00 1,012.40 480.00 2,670.25 1,220.20 450.00 345.00 585.00 8 410.35 FA .7E T TE VA L E LEGAL DEPARTMENT CITY ATTORNEY DIVISION LAGAYLE D.MCCART Y, ASST. Cm ATTORNEY DEPARTMENTAL CORRESPONDENCE JERRY E. ROSE, CITY ATTORNEY To: Fred Hanna, Mayor Fayetteville City Council From: Jerry E Rose, City Attorney Date: June 9, 2000 Re: Bekka claims for legal expenses and lost parking John Bradberry's letter dated May 25, 2000 asks for the City to pay attorney fees and lost parking revenue under the terms of Bekka's lease dated October 22, 1998 which is attached as part of the agenda packet. I thought these comments may be of some assistance to you in your decision. 1. Attorney fees: Since the filing of what is commonly referred to as the Town Center lawsuit in mid -1999, I have been asked by Bekka on a number of occasions as to what my position was on paying Bekka's attorney fees incurred as a result of their being named a party to the suit. I can recall two conversations with Dianne Boyd and one with Jack Butt. On every occasion I expressed my belief that the City was not legally obligated under the terms of the lease to pay Bekka's attorney fees, but that I thought that the City Council may well feel that in faimess they should pay some or all of those fees and I encouraged them to make a claim. I do not believe that attorney fees for Bekka's defense of the Town Center suit are covered under the lease agreement. Bekka is accused in the suit of entering into an illegal contract with the City and the suit seeks to void Bekkas lease and requests Bekka refund the money paid under the terms of the lease. I don't think that fits under the lease provisions which are cited by Bekka because I don't bJieve the defense of the suit is directly or indirectly associated with the leased premises. Instead I believe it is associated with the money Bekka received for the lease which has no relationship whatever with the leased premises. For what it's worth, I readily concede that reasonable legal minds may differ. I also readily concede that Bekka's defense assisted the City in its position and that Jack Butt's able and highly competent legal skills were welcomed by all who supported the City's position. Accordingly, I would have no objections to the City resolving this matter by paying this claim. I just want you to know want you to know that I don't believe you are legally obligated to. Remember that this case is likely to be appealed and I assume more attomey fees may be incurred by Bekka as a result. Page 2 Mayor/City Council June 9, 2000 • • 2. Lost Parking Revenues: I recall talking to Dianne Boyd and John Bradberry about the City providing alternate parking to Bekka without any additional clause in the lease. I also recall that we were not sure we could find such alternate parking and told Bekka that if they could find alternate parking that the City may compensate them for that cost. I have no memory of nor do I believe there was a discussion of any compensation that was to be made to Bekka under any circumstances for loss of parking revenue. Section 14A of the lease provides that the City pay for relocating and providing parking. We've done that by providing Bekka altemate parking. The lease does not say nor was it intended to say that if Bekka couldn't convince its tenants that they should pay for the use of the alternate parking that the City would compensate Bekka for a loss of revenue Again, if you wish to settle this claim you're more than welcome to but I can't think of any legal obligation to do so on this one. /cbp If I can provide anything further, just let me know. • BDC BEKKA DEVELOPMENT FEC` -. MAY 3 1 2i:c;; C O. CITY OF FAYET MAYOR'S OFr.c EXECUTIVE SQUARE, ONE WEST MOUNTAIN, FAYE I IEVILLE, AR 72701 (501) 442-7672 FAX (501) 442-4580 May 25, 2000 City of Fayetteville Attn: Hon. Fred Hanna, Mayor 113 W. Mountain Fayetteville, AR 72701 Dear Sir: Thank you for the opportunity to meet with you on Monday, May 8, 2000. I believe that we were able to clarify some issues concerning our Lease to the city of the Town Center Plaza site. These issues are of great concern to us and I appreciate your willingness to discuss them with candor. It may help to refresh our memories as to how we got to this point. You will recall that under threat of condemnation and our desire to help the City of Fayetteville by cooperating to the extent we reasonably could, we signed a Lease Agreement on October 22, 1998. It was always our intention that once the Lease was signed (a perpetual lease), the city would assume all costs and expenses associated with the Lease Premises thereafter. This part was discussed and agreed upon several times during the negotiations. I call your attention to the following lease provisions: "Whereas, Bekka Development Company recognizes that its property is much more valuable than indicated by the terms of this lease agreement;... (3'4 "Whereas" clause page 1) "All costs,....and liability of and for the plaza...shall be borne by the lessee." (paragraph 6 page 2) "Lessee shall bear all costs and expenses, directly or indirectly associated with the leased premises...and shall defend, indemnity and hold lesser harmless therefore." (paragraph 13 page 3) "Lessee shall pay anv and all costs and expenses associated with, directly or indirectly,...to or for the leased premises." (paragraph 14.D. page 3) "All risk and loss to the Leased Premises during the term or any extended terms hereof shall be borne by the Lessee." (paragraph 14.D. page 3) I hope that upon reflection as to how we got to this point and review of the above provisions of the Lease, you will agree that it was never the intent of either the Lessor or Lessee that the Lessee would lease the premises on a perpetual basis for less that its market value and retain any liability for costs or expenses associated • therewith. We are submitting to you the Davis, Cox & Wright PLC legal costs incurred to date associated with the Lease Premises. We would appreciate the City reimbursing us promptly for these costs. As you know the suit against us has been dismissed and we are petitioning the court for reimbursement by the Plaintiffs. We of course, would reimburse the City if this ruling should be favorable. The City's attomey, Mr. Rose, has expressed to us that it is his belief that these legal fees are not "costs and expenses associated with the lease premises." We strongly disagree with this position. We understand however, that both Mayor Hanna and the City Attorney believe that the original intent of the Agreement was for the City to bear all costs connected with this Lease and will support reimbursement to BEKKA based on that intent. With regard to parking relocation losses suffered by Bekka, I have submitted a second schedule. These losses were anticipated and discussed in great detail prior to the execution of the Lease Document. Mr. Rose assured us at that time that a special clause was unnecessary and that parking costs could be aggregated with other potential cost items in section 14A of the lease. (A copy of the lease is attached for your convenience). We anticipated that BEKKA would suffer damage from lost parking of approximately $20,000 depending on the length of time we were deprived of parking. At the time the lease was negotiated the City could not guarantee us any alternate parking however, we agreed to use any such arrangement to offset our damage and have done so with the off -square parking the city provided. Accordingly, the schedule outlines actual damages to date and future estimates. It was our understanding at this meeting that these costs should also be submitted to the City with the positive support of Mayor Hanna and Mr. Rose. As we discussed and as is outlined in my letter to Mr. Richard Alderman dated January 13, 2000, we feel that Mr. Alderman is responsible for the City violating their contractual agreement with us concerning construction of the Town Center Plaza by designing and constructing the Plaza in a manner that was not approved by us. We await the completion of the Center to determine damages, if any, from this breach. Your prompt attention to the attached invoice is appreciated. Again, thank you for your help in this matter and in future matters of equity and fairness regarding our long-term lease. Yours truly, John Bradberry Vice President-Bekka Development Co. cc: Mr. Jerry Rose, City Attomey Mr E G Bradberry, President Bekka Development Co. Mrs. Dianne Boyd, Secretary Bekka Development Co. • • a 50.2-Oi,WL 0 O 31 �, N fD ..' OI p. 7R. cSo O0 m.• 0 7 m .w'-iam 0 ��* 0 p fD .•► c F S •n o s_.afD 0 o I<m w �w C . aD < tD tD fA 3 p 1 0 M. 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City of Fayetteville, Arkansas Budget Adjustment Form =Budget Year 2000 Department: Division: Program: Town Center Date Requested 06/08/00 Adjustment # Project or Item Requested: Funding of $14,546 for the settlement with Bekka Development for legal fee reimbursement and for parking space lost revenue. Project or Item Deleted: None. Recognition of interest income. Justification of this Increase: Claim submitted by Bekka Development. Justification of this Decrease: Sufficient cash and investments exist to fund the request. Increase Expense (Decrease Revenue) Account Name Amount Account Number Project Number Legal Services 8,411 5600 9600 5314 01 Rent 6,135 5600 9600 5308 00 Decrease Expense (Increase Revenue) Account Name Amount Account Number Project Number Int. -CMT -A&P Transfer 15,546 5600 0960 6708 98 Approval Signatures Requested By Bddget M9nager Departm t Dire . tor 414.41. AVSALsLai ter.IP /men VSL../' '-cR— Date 4O $ I-coo D.te Budget Office Use Only Type: A B C Date of Approval Posted to General Ledger Posted to Project Accounting Entered in Category Log Blue Copy: Budget & Research / Yellow Copy: Requester H:\BUDGET\PROJECTS\TOW NCNTBA_BEKKA. W K4 E 1 LEASE AGREEMENT Agreement made this ZL day of , 1998, by and between BEKKA Development Company, an Arkansas Corporation, with offices at One West Mountain Street, Fayetteville, Arkansas 72701, (hereinafter called "Lessor"), and the City of Fayetteville, Arkansas, a municipal corporation, with offices at 113 West Mountain Street, Fayetteville, Arkansas 72701, (hereinafter called "Lessee"). WHEREAS, the City of Fayetteville desires to revitalize its Downtown by building a Town Center with a Plaza connected to the Fayetteville Square; and, WHEREAS, BEKKA Development Company is also interested in revitalizing Downtown Fayetteville; and, WHEREAS, BEKKA Development Company recognizes that its property is much more valuable than indicated by the terms of this Lease Agreement; nevertheless, is willing to lease the hereinafter described property, under the terms and conditions specified herein; and, WHEREAS, the plans contemplate the conversion of an entire tract of Lessor's property to use as an entrance plaza to the Town Center, which may materially and adversely impact Lessor's adjacent developed lots to the east and west of the intended plaza, and will preclude integrated development of Lessor's combined tracts fronting the Fayetteville Square; and, WHEREAS, while the City could exercise its power of eminent domain to acquire Lessor's property, both parties wish to avoid the uncertainties and potential expense of condemnation proceedings, as well as the threat such proceedings could hold for either the project itself or the value to Lessor of this and its adjacent lots. NOW, THEREFORE, IN CONSIDERATION of the rents, promises, recitals and mutual covenants contained herein, the Lessor and Lessee hereby agree as follows: 1. LEASED PREMISES. Lessor hereby lets, leases and demises unto Lessee, without representations as to physical condition or suitability, subject to the terms and conditions contained herein, the following described property situated in Washington County, Arkansas: Lots Two (2) and Three (3) in Block Thirty (30) in the Original Plat of the Town (now City) of Fayetteville, Arkansas, and part of Lot 4 West of Lot 3 to the existing walkway edge, a distance of approximately 15'. To have and hold said premises unto the said Lessee for and during the term herein stated, subject to the covenants, terms and conditions contained herein. 2. TERM. This lease shall commence upon the effective date hereof and shall extend for a term of twenty-five (25) years. Lessee shall have the option to extend said lease in five (5) year increments, on an Evergreen basis, rent to continue as set forth in paragraph 7, if Lessee is not in default. It is the specific intent of the parties that this lease be one of perpetual renewal at the option of the Lessee so long as Lessee is not in default. Mr • 3. DESIGN. Lessor agrees to allow Lessee to construct a Town Plaza in substantially the same design as shown in the architectural drawing attached hereto as Exhibit "A". Before and after initial construction, any substantial changes to the design as shown in Exhibit "A", must be approved by the Lessor in writing prior to construction Lessor shall not unreasonably withhold such approval. 4. ASSIGNMENT. Lessee shall not assign this lease or sublet the leased premises or any part thereof without prior written consent of the Lessor. 5. POSSESSION. Lessee may take possession of the leased premises when Lessor has given•final approval of Lessee's plans for the improvements to be made to the Leased Premises as set forth in paragraph 3 above and, when a construction contract for the Town Center Project, which will be located south of the Leased Premises, has been entered into. 6. COSTS, UTILITIES AND LIABILITY. All costs, utilities, and liability of and for the plaza and connecting areas, steps, and tie ins shall be borne by the Lessee. 7. RENT. As partial consideration, in addition to the terms, conditions and covenants hereof, Lessee agrees to pay Lessor the sum of one hundred twenty thousand dollars ($120,000.00) upon possession and one dollar ($1.00) per year during the term or any extended terms, hereof. 8. TAXES. Lessee shall pay any and all ad valorem taxes, fees and assessments levied against said premises during the term of this lease; including, but not limited to, real estate taxes, personal property taxes, sales taxes and off-street parking district taxes. 9. PARKING Lessee shall at no cost to the Lessor provide and maintain a paved area adjacent to the Executive Square Office Building, underneath the Town Plaza, sufficient to accommodate 32 parking spaces. Said area shall be for the exclusive use of the Lessor and/or Lessor's Tenants and guests; however, when not in use by Lessor, said spaces may be utilized by the Lessee for public purposes. Lessee shall provide and maintain reasonable access which is satisfactory to the Lessor from the parking area provided to Lessor hereunder, to the premises to the east and west of the Leased Premises; and shall provide and maintain lighting, ventilation and upkeep of said parking area in a manner which is satisfactory to Lessor. 10. USE. Lessee shall use the Leased Premises for the purpose of building and operating a Town Plaza, which shall be the entrance from the south side of the Fayetteville Square to the Town Center, and for no other purpose or purposes without the written consent of Lessor. 11. DEFAULT. Lessor may declare a default by Lessee upon the following: A. Lessee failing to pay any installment of rent and the failure continues for a period of 60 days after written notice to the Lessee. B. Failure to comply with any other terms of this Lease Agreement, and not curing such failure within 60 days after written notice to the Lessee. 12. REMEDIES. Upon the occurrence of any default by the Lessee, which is not timely cured after written notice, Lessor may terminate this Lease Agreement and immediately enter upon • and take possession of the leased premises. Pursuit of said remedy shall not preclude pursuit of any other remedies herein provided, or provided by law. No waiver by Lessor or any violation or breach of any portion hereof shall be deemed or construed to constitute a waiver of any other violation or breach of the same or otherwise. Lessee shall pay any and all costs and expenses resulting from an event of default hereunder or incurred in the collection of any past due balances hereunder, including reasonable attorney fees, whether said attorney is in-house or not, and whether or not suit is brought. 13. CONTINUING OBLIGATIONS. Lessee shall bear all cost and expenses, directly or indirectly associated with the Leased Premises, including, but not limited to, any and all improvements, maintenance, up -keep, lighting, utilities, insurance, accidents, taxes, fees, assessments, cleaning, snow removal and trash removal, and shall defend, indemnify and hold Lessor harmless therefore. Lessee shall maintain the Leased Premises in a clean, attractive, healthful condition, and in accordance with all laws and ordinances. Lessee's obligations under this agreement shall continue and shall survive the expiration or termination hereof, until all obligations of the Lessee incurred hereunder have been met. Nothing herein is to be interpreted or intended as a waiver of the tort immunity granted Lessee under the law of the State of Arkansas. 14. MISCELLANEOUS PROVISIONS. A. Lessee shall pay any and all costs and expenses associated with, directly or indirectly, the removing, relocating, replacing, providing, etc., any and all utilities, electrical service, heating and air-conditioning, water, sewer, steps, entrances, driveways, parking, etc., to or for the Leased Premises. Said removal, relocations, etc., shall be subject to Lessor's pnor approval and shall be done with minimum disruption of services. B. Lessee shall provide and maintain reasonable access from the Leased Premises (plaza and parking) to the premises east and west of the Leased Premises, to Lessor's satisfaction, including at least three (3) walkways from the plaza to the premises located to the west of the Leased Premises. C. The rent provided in this lease shall not be used directly or indirectly in determining fair market value in any subsequent condemnation action regarding this property. D. All risk and loss to the Leased Premises during the term or any extended terms hereof shall be borne by Lessee. E Upon termination of the lease, Lessee shall continue to provide Lessor reasonable ingress and egress to and from the Leased Premises across Lessee's property lying south of the Leased Premises. Said access is currently being afforded by a driveway/alley along the south edge of the Leased Premises from both East and Block Streets. F. Lessee shall provide, at no cost to Lessor, during the term and any extended term hereof, reasonable space for trash/garbage disposal and pickup for use by Lessor and the occupants of the premises lying east and west of the Leased Premises. 15. SUCCESSION. This lease agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, successors and permitted assigns. • 16. SEVERABILITY. Each provision of this lease agreement is severable from all other provisions. In the event any court of competent jurisdiction determines that any provision is invalid or unenforceable for any reason, all remaining provisions shall remain in full force and effect and shall be construed to best effectuate the intent of the parties. 17. INTERPRETATION. This Lease Agreement shall be deemed to have been made under and shall be governed by the laws of the State of Arkansas in all respects, including without limitation, matters of construction, validity, performance and venue. Venue of any legal actions shall be in Washington County, Arkansas and the parties specifically waive any and all other. 18. AUTHORIZATION. The persons executing this agreement covenant and represent that they are duly authorized and empowered to do so on behalf of the party they purport to represent. 19. LIABILITY. Lessor shall not be liable to Lessee or any other party, person, or entity for damage, injury or loss of any kind arising from or associated with the Leased Premises, directly or indirectly, and Lessee shall defend, indemnify and hold Lessor and its officers, agents, employees, directors, and shareholders harmless therefrom. The Lessee shall be liable for any and all damages from their construction, development, and use of the Leased Premises. Nothing herein is to be interpreted or intended as a waiver of the tort immunity granted Lessee under the Law of the State of Arkansas. • 20. TIME OF ESSENCE. Time shall be of the essence in this Lease Agreement. 21. ALL RIGHTS NOT SPECIFIED. All rights not specifically granted under this Lease shall remain with the Lessor. 22. ENTIRE AGREEMENT. This Lease Agreement including Exhibit "A" contains the entire agreement of both parties hereto, and no other oral or wntten agreement shall be binding on the parties hereto. This Lease Agreement supersedes all pnor agreements, contracts, and understanding of any kind between the parties relating to the subject matter hereof. IN ITNESS W 'EREOF, the parties hereto have hereunto set their hands and seals on day of �/l ,s,�'L� , 1998. this LESSOR: LESSEE: CITY OF FAYETTEVILLE, ARKANSAS A Municipal Corporation By. 7 Fred Hanna, Mayor A ' 'EST: ATTEST: »O444t 12B1 By . Z4 ecretary (1 H Cher Woodruff, City Clerk • Page 5 Bekka Development/ City of Fayetteville Lease ACKNOWLEDGMENT STATE OF ARKANSAS ) )ss: COUNTY OF WASHINGTON ) Before me, a Notary Public duly commissioned, qualified and acting within and for the County and State aforesaid, appeared in person the within named, Fred Hanna and Heather Woodruff, Mayor and City Clerk, respectively, for the City of Fayetteville, Arkansas, a municipal corporation, to me personally known, who stated that they were duly authorized in their respective capacities to execute the foregoing instrument for and in the name and behalf of the municipal corporation, and further stated and acknowledged that they had so signed, executed and delivered the foregoing instrument for the consideration, uses and purposes therein mentioned and set forth. IN ESTI HEREOF, I have hereunto set my hand and official seal on thise 2. day of ONY 'WHEREOF, , 1998. My Cqmmission Expires: -/-21J,' Notary Public ACKNOWLEDGMENT STATE OF ARKANSAS ) )ss: COUNTY OF WASHINGTON ) On this day before me, a Notary Public, duly commissioned, qualified and acting within and for the State and County aforesaid, appeared E G Bradberry, known to me to be the person and officer whose name is subscribed to the foregoing instrument for and in the name and on behalf of BEKKA Development Company, and further stated that he had so signed, executed and delivered said instrument for the consideration, uses and purposes therein mentioned and set forth. IN STIMONY WHEREOF, I have hereunto set my hand and official seal, this .7.7 day of t� bOiL 1 , 1998. ' N. tary Public My Commission Expires. -aDDP `AB y�:' Nor•io, •-.0"; _•:rn= =z'•s. : p :Qa "�', vBLIC ./_ • XX AGENDA REQUEST CONTRACT REVIEW GRANT REVIEW STAFF REVIEW FORM For the Fayetteville City Council meeting of June 20, 2000 FROM: Manor Hanna Mayor Name Executive Division Department ACTION REQUIRED: Consideration of a claim by Bekka Development for legal expenses and lost parking space revenue in conjunction with the Town Center. If the claim is approved, approval of a budget adjustment to fund the approved claim is also requested. COST TO CITY: $14,545.35 Cost of this Request 5600-9600-5314-01 5600-9600-5308-00 Account Number Project Number 10,627.00 Services & Charges Category/Project Budget Category/Project Name 10,500.00 Funds Used To Date Program Name 127.00 Town Center Remaining Balance Fund BUDGET REVIEW: Budge Manager Budgeted Item X Budget Adjustment Attached Administrative Services Director CONTRACT/GRANT/LEASE REVIEW: GRANTING AGENCY: A Attorney Purchasing Officer L -81)o Da1-4N4-0-411) e n Internal Auditor bate ADA Coordinator (o -la -do Date Date Date STAFF RECOMMENDATION: Division Head Date Cross Reference New Item: Yes No Prey Ord/Res #: Orig Contract Date: Orig Contract Number: FAYETTEV,LLE THE CITY OF FAYETTEVILLE, ARKANSAS DEPARTMENTAL CORRESPONDENCE J. To: John Maguire, Administrative Services Director From: Heather Woodruff, City Clerk Date: July 12, 2000 Attached is a copy of Resolution 85-00 approving a budget adjustment for payment of lost parking space revenue, through June 2000, in conjunction with the Town Center to Bekka Development. The budget adjustment has been forwarded to the Budget and Research Division. cc: Steve Davis, Budget & Research Nancy Smith, Internal Auditor Marilyn Cramer, Accounting • RESOLUTION NO. 85-00 A RESOLUTION AUTHORIZING PAYMENT OF LOST PARKING SPACE REVENUE, THROUGH JUNE 2000, IN CONJUNCTION WITH THE TOWN CENTER TO BEKKA DEVELOPMENT IN THE AMOUNT OF $6,135. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS• Section 1. That the City Council hereby authorizes payment of lost parking space revenue, through June 2000, in conjunction with the Town Center to Bekka Development in the amount of $6,135. A copy of the invoice is attached hereto marked Exhibit "A" and made a part hereof. •0i,p•AND APPROVED this 20th day of June , 2000. • APPROVE I / By: / Pied Hanna, Mayor ATTEST: By: arezere eather Woodruff, City Cle