Title
Approving an amendment to an agreement with Winstead PC to engage in special legal services for the Downtown East Project, and authorizing the City Manager to execute the same.
Summary
The City has been working with Winstead on the transactional documents necessary to fulfill the Public Private Partnership (P3) the City has entered into with Griffin/Swinnerton for the Downtown East project. The next step in the agreement with Griffin/Swinnerton is to create real estate documents necessary to transact the commercial spaces within the Downtown East. The additional scope of work will not only provide documents necessary for the transaction of the commercial space within The Monarch but also establish the framework for the development of the tracts within Phase 2 of the Downtown East development. As part of partnership established with Griffin/Swinnerton, Griffin/Swinnerton will be responsible for approximately 30 percent of the cost of this scope of work.
Winstead has been instrumental in the creation of the documents executed by the City to date for the Downtown East project. Staff recommends continuation of the engagement of special legal services with the firm of Winstead PC for this additional legal effort. Winstead PC is a nationwide firm specializing in P3 developments and have offices in Austin. They have advised on several P3 projects in the central Texas region including the Travis County Courthouse Complex and mixed use development and the University of Texas multi-purpose arena.
This item meets all four of the Council’s Strategic Goals, as well as Goal 2.2 of the Aspire 2040 Comprehensive Plan to pursue a mixed-use project with municipal facilities through a master developer arrangement.
Downtown East History
The Downtown East project is located on +/-29 acres located at the northwest corner of Pecan Street and FM 685. Discussions for Downtown East have included aspirations to leverage the central Pflugerville location to become a mix...
Click here for full text