Board of Directors Regular Meeting Agenda


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Meeting Date: 04/27/2016  

SUBJECT MATTER:
Receive, consider and act upon the conveyance of Waterway Bridge from The Woodlands Land Development Company, L. P.;
FISCAL IMPACT:
The construction of  the Waterway Bridge was part of the overall Bridge and Stage Project Development Agreement which totaled $5,900,000. The project costs were allocated between the Township and TWLDC per the terms of the Comprehensive Community Services Agreement and the Project Development Agreement.  The component costs of the project were:
  • Custom Bridge with parabolic profile/exterior cladding/ LED lighting = $2,800,000
  • Elevator towers/stairs/ramp/ landscape planters = $900,000
  • Performance stage/band shell with AV equipment /electrical/lighting, cantilevered structural steel with tensile fabric system = $1,600,000
  • Consultants, design, testing and other professional fees and services = $600,000
The total cost to the Township for the public project developed at Waterway Square was $3,775,000.
 
BACKGROUND:
The Woodlands Township Board of Directors approved a Project Development Agreement with The Woodlands Land Development Company L.P. in August 2014 (Attachment A).  The agreement provided the terms and conditions for constructing a pedestrian bridge, elevators and stage at Waterway Square.   The project has now been completed including punch list items and as the bridge tract lies outside the Township's tract, the bridge tract is presented for conveyance to the Township (Attachment B).

The conveyance includes an Aerial Easement Agreement, a Landscaping Easement, Special Warranty Deed, Notices to Purchasers and a Partial Assignment of Construction Management Agreement.

Township Attorney has reviewed the documents and finds them to be proper and suitable for approval.

 
RECOMMENDATION:
Accept the conveyance of the Waterway Bridge and authorize the President/General Manager to execute the necessary agreements, easements, deeds and other instruments as required and approved to form by Township Attorney.

    

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