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2001-427 O INANCENO t/ 7 AGREEMENT WITH THE BUXTON COMPANY AND THE ~u~ GROUP TO PROV1DEiCONSULTING SERVICES, IDENTIFICATION OF POTENTIAL RETAIL ZONES, DEVELOPMENT OF COMMUNITY DEMOGRAPHIC AND PSYCHOGRAPHICS PROFILE AND RETAIL MARKETING MATERIALS, RATIFYING THE CITY MANAGER'S APPROVAL OF PHASE I OF THE PROJECT, PROVIDING AN EFFECTIVE DATE (PSA FILE 2761 - THE BUXTON COMPANY/THE CORNERSTONE GROUP FOR A TOTAL AMOUNT OF $75,000) THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS WHEREAS, The professional services provider (the "Provider) mentioned in this ordinance is being selected as the most highly qualified on the basis of its demonstrated competence and qualifications to perform the proposed professional services, and WHEREAS, The fees under the proposed contract are fair and reasonable and are consistent with and ~not fugher than the recommended practices and fees published by the professional assoemtlons apphcable to the Promder's profession and such fees do not exceed the maximum provided by law, NOW, THEREFORE, ~ The City Manager, or his designee, is hereby authorized to enter into a professional service contract wah The Buxton Company/The Comerstone Group to provide professional services for retail, trade assessment, site selection, tenant analysis and a recruitment package as per the contract, a copy of which is attached hereto and incorporated by reference herein (the "Co~tract") The City Manager, or his designee, is authorized to exercise the City's rights, responslbflmes and duties under the Contract SECTION 2 The City Manager, or his designee, is authorized to expend funds as required by the Contract The prior actions ofthe City Manager m authorizing the Phase I servmes under the Contract are hereby ratified ECT~ The findings in the preamble of this ordinance are incorporated herein by reference ~ This ordinance shall become effective lmme&ately upon its passage and approval 0 ~ ~'ptt~, 2001 PASSED AND APPROVED this the day of EULINE BROCK, MAYOR ATTEST JENNIFER WALTERS, CITY SECRETARY APPROVED AS TO LEGAL FORM PSA2761 - CONTRACT FOR PROFESSIONAL SERVICES ORDINANCE PROFESSIONAL SERVICES AGREEMENT FOR RETAIL TRADE AND SITE ASSESSMENT STATE OF TEXAS § COUNTY OF DENTON § THIS AGREEMENT is made and entered into as of the 1st day of November, 2001, by and between the City of Denton, Texas, a Texas municipal corporation, with its pnnmpal office at 215 East McKlnney Street, Denton, Denton County, Texas 76201, hereinafter called "OWNER" and The Buxton Company, a Texas Corporation, and The Cornerstone Group, a Texas Corporation, hereinafter, whether one or more, called "CONSULTANT," acting herein, by and through their duly authorized representatives WITNESSETH, that in consideration of the covenants and agreements herein contmned, the parties hereto do mutually agree as follows ARTICLE I EMPLOYMENT OF CONSULTANT The OWNER hereby contracts with the CONSULTANT, as an independent contractor, and the CONSULTANT hereby agrees to perform the services herein in connectmn with the Project as stated below, with diligence and in accordance with the highest professional standards customarily obtained for such services in the State of Texas The professional services set out hereto are in connection with the following described project The ProJect shall include, without limitation those services described in the proposal attached hereto and made a part hereof as Exhibit "A" (the "Proposal") ARTICLE II SCOPE OF SERVICES The CONSULTANT shall perform the services set forth in the Proposal in a professional manner If there is any conflict between the terms of this Agreement and the Proposal, the terms and conditions of this Agreement will control over the terms and conditions of the Proposal ARTICLE III PERIOD OF SERVICE This Agreement shall become effective upon execution of this Agreement by the OWNER and the CONSULTANT and upon issuance of a notice to proceed by the OWNER, and shall remain in force for the period wluch may reasonably be required for the completion of the Project and any reqmred extensions approved by the OWNER This Agreement may be sooner terminated in accordance with the provisions hereof Time is of the essence in this Agreement The CONSULTANT shall make all reasonable efforts to complete the serwces set forth herein as expeditiously as possible and to meet the schedule established by the OWNER, acting through its City Manager or his designee X ~Proposals~Proposals for 2001\C~y of Denton Denton's Contract Form doc ARTICLE IV COMPENSATION COMPENSATION TERMS A CONSULTANT shall be compensated in accordance with the Fee Schedule stated on page nine of the Proposal, except that the 50% payments for Phase I and II will not be pa~d at time of execution of this agreement but upon completion of a portion of the services as of November 12, 2001 The remainder of contract payments to the CONSULTANT will be made on the basis of completion of the Exhibit "A" services, approved by the OWNER through its City Manager or Ins designee In the event of an early termination as provided for in Article XI, CONSULTANT will be compensated for services satisfuctonly completed to date of termination at the rate of $100 00 per hour, not to exceed the lump sum amounts set forth at page nine of the Proposal Nothing contained in this Article shall require the OWNER to pay for any work which is unsatisfactory, as reasonably determined by the City Manager or Ins designee, or which is not submatted in comphance with the terms of this Agreement The OWNER shall not be required to make any payments to the CONSULTANT when the CONSULTANT is in default under this Agreement It is specifically understood and agreed that the CONSULTANT shall not be anthonzed to undertake any work pursuant to tins Agreement which would require ad&tlonal payments by the OWNER for any charge, expense, or reimbursement above the maximum not to exceed fee as stated, without first having obtained written authorization from the OWNER The CONSULTANT shall not proceed to perform the services listed in Article III "Addmonal Services," without obtmnmg prior written authorization from the OWNER B PAYMENT If the OWNER fails to make payments due the CONSULTANT for services and expenses within sixty (60) days after receipt of the CONSULTANT's unchsputed statement thereof, the amounts due the CONSULTANT will be increased by the rate of one percent (1%) per month from the said sixtieth (60th) day, and, in addition, the CONSULTANT may, after giving seven (7) days' written notice to the OWNER, suspend services under this Agreement until the CONSULTANT has been paid in full all amounts due for services, expenses, and charges, provided, however, notinng herein shall require the OWNER to pay the late charge of one percent (1%) set forth herein if the OWNER reasonably determines that the work is unsatisfactory, in accordance with this Article IV, "Compensation" ARTICLE V OBSERVATION AND REVIEW OF THE WORK The CONSULTANT will exemise reasonable care and due diligence in dlscovenng and promptly reporting to the OWNER any defects or defimencles in the work of the CONSULTANT or any subcontractors or subconsultants Page 2 ARTICLE VI OWNERSHIP OF DOCUMENTS All documents prepared or furnished by the CONSULTANT (and CONSULTANT's subcontractors or subconsultants) pursuant to th~s Agreement are mstmments of service, and shall become the property of the OWNER upon the termmatmn of th~s Agreement The CONSULTANT ~s entttled to retain cop~es of all such documents The documents prepared and furmshed by the CONSULTANT are mtended only to be apphcable to th~s ProJect, and OWNER's use of these documents m other projects shall be at OWNER's sole risk and expense In the event the OWNER uses any of the mformat~on or materials developed pursuant to this Agreement m another project or for other purposes than spemfied here~n, CONSULTANT ~s released from any and all habthty relating to their use ~n that project ARTICLE VII INDEPENDENT CONTRACTOR CONSULTANT shall prowde serwees to OWNER as an ~ndependent contractor, not as an employee of the OWNER CONSULTANT shall not have or clmm any right arising from employee status ARTICLE VIII INDEMNITY AGREEMENT The CONSULTANT shall mdenmffy and save and hold harmless the OWNER and ~ts officers, agents, and employees from and agmnst any and all hab~hty, clmms, demands, damages, losses, and expenses, ~ncluchng, but not hm~ted to court costs and reasonable attorney fees ~ncurred by the OWNER, and ~ncludmg, w~thout bm~tatlon, damages for boddy and personal ~njury, death and property damage, resulttng from the negbgent acts or omissions of the CONSULTANT or its officers, shareholders, agents, or employees ~n the executmn, operation, or performance of th~s Agreement Nothing m th~s Agreement shall be construed to create a habthty to any person who ~s not a party to th~s Agreement, and nothing here~n shall wmve any of the pames' defenses, both at law or eqmty, to any claim, cause of action, or ht~gatlon filed by anyone not a party to th~s Agreement, ~ncluthng the defense of governmental ~mmumty, winch defenses are hereby expressly reserved ARTICLE IX. INSURANCE Dunng the performance of the serwces under th~s Agreement, CONSULTANT shall mmntmn the following ~nsurance with an insurance company bcensed to do business ~n the State of Texas by the State Insurance Commission or any successor agency that has a rating w~th Best Rate Carriers of at least an A- or above A Comprehensive General Lmbthty Insurance w~th bodily mjury hm~ts of not less than $500,000 for each occurrence and not less than $500,000 ~n the aggregate, and w~th Page 3 property damage limits of not less than $100,000 for each occurrence and not less than $100,000 m the aggregate B Automobile Llabd~ty Insurance w~th bodily injury limits of not less than $500,000 for each person and not less than $500,000 for each accident, and with property damage hm~ts of not less than $100,000 for each accident C Worker's Compensation Insurance in accordance with statutory requirements, and Employers' Liability Insurance w~th limits of not less than $100,000 for each accident D The CONSULTANT shall furnish insurance certificates or insurance policies at the OWNER's request to evidence such coverages The insurance policies shall name the OWNER as an adcht~onal insured on all such pohmes, and shall contain a prowslon that such insurance shall not be canceled or modified without thirty (30) days prior written not, ce to OWNER and CONSULTANT In such event, the CONSULTANT shall, prior to the effective date of the change or cancellation, serve substitute policies furnishing the same coverage ARTICLE X ARBITRATION AND ALTERNATE DISPUTE RESOLUTION The part~es may agree to settle any disputes under this Agreement by submitting the dmpute to arbitration or other means of alternate dispute resolution, such as mediation No arbitration or alternate d~spute resolution arising out of or relating to this Agreement, involving one party's d~sagreement, may include the other party to the disagreement without the other's approval ARTICLE XI TERMINATION OF AGREEMENT A Notwithstanding anY other provlsmn of this Agreement, either party may terminate by g~vlng tturty (30) days' advance written notice to the other party B This Agreement may be terminated in whole or in part in the event of either party substantmlly failing to fulfill its obhgat~ons under this Agreement No such termlnatmn will be affected unless the other party is given (1) written notme (delivered by certified mml, return receipt requested) of intent to terminate and setting forth the reasons specifying the non-performance, and not less than thirty (30) calendar days to cure the failure, and (2) an opportunity for consultation with the terminating party prior to termination C If the Agreement ~s terminated prior to completion of the services to be provided hereunder, CONSULTANT shall immediately cease all services and shall render a final bill for services to the OWNER wlttun thirty (30) days after the date of termination The OWNER shall pay CONSULTANT for all services properly rendered and satisfactorily performed and for reimbursable expenses to termination ~ncurred prior to the date of term~nation, in accordance w~th Article IV "Compensation" Should the OWNER subsequently contract with a new consultant for the continuation of services on the Project, CONSULTANT shall cooperate in providing ~nformatlon The CONSULTANT Page 4 shall mm over all documents prepared or furnished by CONSULTANT pursuant to this Agreement to the OWNER on or before the date of termination, but may maintain copies of such documents for its use ARTICLE XII RESPONSIBILITY FOR CLAIMS AND LIABILITIES Approval by the OWNER shall not constitute, nor be deemed a release of the responslblhty and liability of the CONSULTANT, its employees, associates, agents, subcontractors, and subconsultants for the accuracy and competency of their designs or other work, nor shall such approval be deemed to be an assumption of such responsibility by the OWNER for any defect m the design or other work prepared by the CONSULTANT, its employees, subcontractors, agents, and consultants ARTICLE XIII NOTICES All notices, communications, and reports required or permitted under this Agreement shall be personally delivered or mailed to the respective parties by depositing same in the United States mall to the address shown below, certified mall, return receipt requested, unless otherwise specified herein Mailed notices shall be deemed communicated as of three (3) days after mmllng To CONSULTANT To OWNER The Cornerstone Group City of Denton 401 Fort Worth Club Building Michael Conduff, City Manager 301 West 7th Street 215 East McKlrmey Fort Worth, TX 76102 Denton, Texas 76201 All notices shall be deemed effective upon receipt by the party to whom such notice is given, or within three (3) days after mmhng ARTICLE XIV ENTIRE AGREEMENT This Agreement and attached exhibits, constitutes the complete and final expression of the agreement of the parties, and is intended as a complete and exclusive statement of the terms of their agreements, and supersedes all prior or contemporaneous offers, promises, representations, negotiations, discussions, communications, and agreements which may have been made in connection with the subject matter hereof ARTICLE XV SEVERABILITY If any provision of this Agreement is found or deemed by a court of competent junsdmtion to be invalid or unenforceable, it shall be considered severable from the remainder of tins Agreement and shall not cause the remainder to be invalid or unenforceable In such event, the parties shall reform this Agreement to replace such stricken provision with a valid and Page 5 enforceable provision which comes as close as possible to expressing the intention of the stricken provision ARTICLE XVI COMPLIANCE WITIt LAWS The CONSULTANT shall comply w~th all federal, state, and local laws, rules, regulations, and ordinances apphcable to the work covered hereunder as they may now read or hereinafter be amended ARTICLE XVII DISCRIMINATION PROItIBITED In performing the services required hereunder, the CONSULTANT shall not discriminate agmnst any person on the basis of race, color, religion, sex, national ong~n or ancestry, age, or physical handmap ARTICLE XVIII PERSONNEL A The CONSULTANT represents that ~t has or w~ll secure, at its own expense, all personnel reqmred to perform all the services reqmred under th~s Agreement Such personnel shall not be employees or officers of, or have any contractual relations with the OWNER CONSULTANT shall inform the OWNER of any conflict of ~nterest or potential conflict of interest that may arise dunng the term of this Agreement B All services reqmred hereunder w~ll be performed by the CONSULTANT or under its superwmon All personnel engaged m work shall be qualified, and shall be authonzed and permitted under state and local laws to perform such services ARTICLE XIX ASSIGNABILITY The CONSULTANT shall not assign any ~nterest ~n th~s Agreement, and shall not transfer any interest m thru Agreement (whether by assignment, novation, or otherwise) without the prior written consent of the OWNER ARTICLE XX MODIFICATION No wmver or modification of thru Agreement or of any covenant, condition, or hm~tation herein contmned shall be valid unless in writing and duly executed by the party to be charged therewith, and no evidence of any waiver or modfficat~on shall be offered or received in evidence ~n any proceeding arising between the parties hereto out of or affecting this Agreement, or the rights or obligations of the part,es hereunder, and unless such wtuver or modfficat~on is ~n writing and duly executed, and the partses further agree that the provisions of this section will not be waived unless as set forth herein ARTICLE XXII Page 6 MISCELLANEOUS A CONSULTANT agrees that OWNER shall, until the exp~ratmn of three (3) years after the final payment under thts Agreement, have access to and the right to examine any d~rectly pertinent books, documents, papers, and records of the CONSULTANT ~nvolwng transactmns relating to th~s Agreement CONSULTANT agrees that OWNER shall have access dunng normal working hours to all necessary CONSULTANT facdmes and shall be promded adequate and appropriate working space m order to conduct and~ts ~n eomphanee w~th th~s secUun OWNER shall g~ve CONSULTANT reasonable advance not~ce of ~ntended audits B Venue of any stat or cause of actmn under this Agreement shall he exclusively ~n Denton County, Texas Th~s Agreement shall be construed ~n accordance w~th the laws of the State of Texas C For the purpose of thru Agreement, the key persons who will perform most of the work hereunder shall be B~ll R Shelton and Thomas J Buxton However, nothmg herem shall hmlt CONSULTANT from using other quahfied and competent members of ~ts firm to perform the servmes reqmred hereto D CONSULTANT shall commence, carry on, and complete any and all projects w~th all appheable dispatch, ~n a sound, econommal, and efficmnt manner and m accordance with the provisions hereof In accomphsh~ng the projects, CONSULTANT shall take such steps as are appropriate to ensure that the work tnvolved ~s properly coordinated wtth related work being canned on by the OWNER E The OWNER shall assist the CONSULTANT by placing at the CONSULTANT's d~sposal all available ~nformat~on pertinent to the Project, ~nclud~ng prewous reports, any other data relaUve to the Project, and arranging for the access thereto, and make all proms~ons for the CONSULTANT to enter m or upon public and private property as reqmred for the CONSULTANT to perform servmes under th~s Agreement F The captions of this Agreement are for ~nformatmnal purposes only, and shall not ~n any way affect the substantive terms or conditions of this Agreement IN WITNESS HEREOF, the C~ty of Denton, Texas has caused th~s Agreement to be executed by ~ts duly anthonzed C~ty Manager, and Ct~sNtShUe ~h~Sa e~7~d~~ent' through ~ts duly authorized undersigned officer on /.//, Y CITY OF DENTON, TEXAS ,..~ ~AEL~/A~MANAGER ATTEST Page 7 JENNIFER WALTERS, CITY SECRETARY APPrOvED A~O LEGAL FORM HERBERT L PROUTY, CITY ATTORNEY THE CORNERSTONE GROUP Bill R Shelton, Managing D~rector THE B~~ Page 8 Exhibit "A" The Buxton company and The Cornerstone Group Community/DsM Proposal presented to: City of Denton October 24, 2001 Prepared by Ball Shelton and Tom Buxton Expiration Date November 30, 2001 Biixton c o m p a nfi T~LE OF CONTENTS Executive Overview 3 Scope of Serwces Phase I Retail Trade Assessment 4 Phase II Retail Site Selechon and Tenant Analys~s 6 Retail Recruitment Package 8 Fee and DeWery Schedule 9 Sponsor Requirements 10 S~gnature Page Phase I 11 S~gnature Page Phase II 12 Btixton c o mpa ny EXECUTIVE OVERVIEW The Cornerstone Group and the Buxton company are pleased to present this proposal to the City of Denton The obJeCtive of this proposal is to outline the scope of the research that will produce critical-fact based information and marketing packages that can be used by the City of Denton to proceed with the attraction and expansion of the retail sector In tins proposal, the term "retail" also includes restaurants In Phase I, we will complete an assessment of the retail trade ~n the City of Denton This assessment will identify distinct geographic zones of customers and retail potential An analysis of the existing retail trade and demographic and psychographlc analyses of the households in the commumty will determme the opportumtles for adthtlonal retail trade In Phase II, based on the lmtlal analysis that identified up to three potential zones, the City of Denton will select one zone and provide up to three available sites within th~s zone for further analys~s Drive time trade areas will be developed from these sites and the households within these areas will be profiled These profiles will be compared with retailers' customer profiles A score sheet will be developed ranking potential retail tenants based on these profiles, household density, competition and canmbahzatlon to existing retml Tins research will be used to create retml recruitment packages to be used to attract potential retail tenants The marketing package will show the retailer that the households in the trade area match their preferred customer profile The marketing package will also include comparisons to existing retail centers w~th household profiles similar to the new center, reinforcing the new center as an opportunity for opemng a successful umt These materials address specffic retailers and may also be used to attract developers to this project We understand that the City of Denton is considering a new retail center along S Loop 288 at Bnnker Road and would hke a study conducted on an urgent basis A complete analysis of this 50-acre site will be added to the CommunitylD project w~th completion of this site expedited to meet the reqmrements of the Ctty of Denton Also, at the request of the City of Denton management, representatives from the Buxton company and the Cornerstone Group will accompany city management in negotmtion meetings with the developers of this proposed retail center The Cornerstone Group and the Buxton company provide market research services and economic development consultation and do not promde engmeenng services to determine the suitability of the environment, topography or ~nfrastmcture requirements We are pleased to present the following outline of the scope of this project for your consideration We look forward to your response B6xton c o m-p a n y SCOPE Of SERVICES PHASE I - RETAIL TRADE ASSESSMENT A Analys~s ofpotentml retad zones to arclude · Identification of potential retad zones w~th~n the commumty · Analys~s of the wabfilty for commercial fermi at each tdent~fied zone During the process of ~dentffyarg these zones, the C~ty of Denton w~ll be consulted prior to extensive research so that the c~ty will be able to determine ffthe zone ~s compatible w~th the c~ty's long range city planmng B Analys~s of households · Geocode all households ~n the zones ~dent~fied above · Determine and analyze demographics of these households · Determine and analyze psychograph~cs of these households · Segment and profile all households m each of the zones ~dent~fied The City of Denton will be consulted regarding growth data of the c~ty since some anUc~pated growth known or planned by the city may not appear on available data C identlficatxon of retmlers interested m these customers · Research data to find retailers whose preferred core customers most closely resemble household profiles for each of these zones 4 SCOPE OF SERVICES PHASE I - RETAIL TRADE ASSESSMENT - continued D Analysis of the 50-Acre s~te along S Loop 288 at Brxnker Road ~dent~fied by the C~ty of Denton In addition to the three zones referenced above, an additional analys~s w~ll be conducted for this site and w~ll include · Identification of the Drive T~me Trade Area · Profile of households w~thm this area · Identification of prospective tenants w~th customer profiles s~mllar to the households ~n the trade area · An estimated sales performance range for each of these retailers at th~s s~te E Deliverables · Research Report including · Map ofpotem~al retml zones wxth household density · Graph of household profiles of each zone identified · L~st of potential retmlers w~th graphical representation of their core customers compared to community's household profile Bi xton c o m p a n y SCOPE OF SERVICES PHASE II - RETAIL SITE SELECTION AND TENANT ANALYSIS A Identification of potential retail center sites within one of the zones analyzed dunng the Retail Trade Assessment, to consist of the following · Demograpinc and psychographlc profile of households around each of these s~tes · Identfficat~on of core customers · Population density of these core prospective customers Key issue In conjunction w~th the Cornerstone Group and the Buxton company, the C~ty of Denton will select up to 3 sites for analysis B Drive Time Trade Area · Develop comprehensive Drive Time Trade Area around each potential s~te C Tenant select,on and analysis · Identification of retailers with customer profiles similar to the household profiles within the Drive T~me Trade area determined in section B above · Analyze the effect of sales transfer (cannibalization) by stores of the same retmler m nearby communities, if applicable · Analyze the effects of competition within the Drive Time Trade Area, if apphcable · Develop a Retailer Score Sheet mthcat~ng the sites' attractiveness measuring profiles, population density and distance to competitors and tm~ts of the same retailer SCOPE OF SERVICES PHASE Il - RETAIL SITE SELECTION AND TENANT ANALYSIS - continued D Analysis of ex~stmg similar retail centers These retail centers may or may not be m neighboring communities and will be selected based on the similarity of the households surrounding these centers as compared to the households profiled surrotmdmg the proposed site This will better identify retailers that can be successful at this site and will supplement the profile mformat~on when marketing to these retailers E Deliverables · Research report to include · Trade Area Polygons overlayed on map · Household Profile by Trade Area (s) · Retailer Score Sheet · Complete analysis of the 50-acre site Bi ixton GROUP c o m p a n y SCOPE OF SERVICES PHASE II - RETAIL RECRUITMENT PACKAGE A Marketing Binder We will prepare a Marketing Binder that can be used to market to potential tenants Th~s binder will indicate the retail potential that is determined m the analysis Marketing Binders are intended to ~dentlfy the best tenant mix for the proposed retail center based on the population contmned m the estabhshed Trade Area The binder will ~dentlfy the top retml businesses and will include mformat~on to enable the retmler to determine the suitability of th~s retail center for their retail concept The Marketing Binder to include · Property Descnptmn and Trade Area map · Trade Area detailed reformation · Overall maps with Trade Area and competition · Demographic summaries and graphs illustrating the Trade Area · Household segmentation summaries · Demographic maps · Recommended retailers with operating names, addresses, telephone numbers, key executives to contact and retail classfficatlon B Retailer Specffic Marketing Package These packages will be used to market the community to the prospective retail and restaurant tenant and will include items from the Marketing Binder m above A Each package will address a specific mtmler and set forth the research results illustrating to the retailer the opportumty for opening a successful outlet at this site C Dehverables · One (1) copy of the Marketing Binder · Additional binders ~ $200 each · One (1) copy of a retailer specffic marketing package for each targeted retail tenant, up to 25 tenants, and an additional set of packages for the 50-acre site · Addit~onal retail tenant binders @ $100 each FEE SCHEDULE FEE FOR SERVICES In cons~deraUon for servmes rendered by the Cornerstone Group and the Buxton company, the Ctty of Denton agrees to pay the Cornerstone Group the actual cost of travel and related out-of-pocket expenses not to exceed $500 recurred tn connectton wtth servtces performed under thts agreement m net ten (10) days Fees assoctated w~th the Commumtyl/Y" program and tts related processes ts as below Phase I - Retml Trade Assessment of the C~ty of Denton, to tnclude an addmonal Trade Assessment and Tenant Analys~s for the 50-acre s~te now under constderatton for a new retail center along S Loop 288 at Bnnker Road $20,000 Phase II - Retail Stte Selectton wtth Drtve Trines and Trade Area Household Profiles for each of three sttes selected and Retail Tenant Analysts and Retad Recmttment Packages for each Retmler ~denttfied $55,000 Phase I of this project wdl be tntuated upon executton of thts agreement and not~ce to proceed by the Ctty Manager Phase II of thts project wall be tmt~ated upon approval by the Denton Ctty Council and not~ce to proceed by the Ctty Manager A paymem equal to 50% of the fee for Phase I ts due upon executton ofth~s Agreement The balance of the fee for Phase I wdl be due upon dehvery of Phase I dehverables A payment equal to 50% of the fee for Phase II ts due upon the approval of the Denton Ctty Councd and nottce to proceed wtth Phase II ts gtven by the Ctty Manager The balance of the fee for Phase II will be due upon dehvery of Phase II dehverables Esttmated time of completton 60 to 90 bustness days from the execution of thts agreement However, the analysts and marketmg package for the 50-acre stte currently under negottattons by the Ctty of Denton wtth a developer wdl be completed tn two weeks from the date thts contract ts executed 9 ' Bilxt on GROUP c o mpa ny SPONSOR REQUIREMENTS PROJECT REQUIREMENTS FOR SPONSOR In order to complete the CommunitylD project m the time schedule presented, the following must be provided by the City of Denton A Project Llaason · Designate a local Project Manager who will interface with the Cornerstone Group during the course of the study B Provide the following materials or reports (all materials will be returned at the completion of the project) · Economic planmng analys~s, community mslonmg or future studies · Current zoning map · Maps or plans for any major Inghway or roadway upgrade or construction planned in the next five years · Last and locate on map, up to three sites or areas to be analyzed for desarainhty for retail or shoppmg center development or redevelopment · Last and locate on map all shopping centers or malls m the city or ETJ · List and locate on map all major national retailers m the city i or ETJ · List of any shopping center or national retailers that have purchased property, but not opened Indicate if project is under construction · Economac development marketing materials currently used by the commumty · Ownership of potential retail or shopping center locations may be reqmred Do not provide unless specifically requested C Meeting room to accommodate final report session The sponsor is responsible for extending ~nvitat~ons to part~mpants The Cornerstone Group and the Buxton company will provide all brtefing/presentatlon materials I0 Btixt t a msama on GROUP c o m p a n y SIGNATURE PAGE - PHASE I This agreement is between the C~ty of Denton, the Cornerstone Group and the Buxton company ("the Parties") for the performance of services described in Phase I of this proposal The Parties further agree that an ~ndependent contractor/employer relationship is created as a result of this agreement The Cornerstone Group and the Buxton company will not be considered an agent or employee of the City of Denton for any purpose The term of this agreement is one (1) year This agreement may be terminated by either party at any time upon written notice of 30 days If this agreement is terminated, the Cornerstone Group and the Buxton company wall be paid for services performed up to the date the written not,ce is received This agreement shall be administered and interpreted under the laws of the State of Texas In order to avoid paying State of Texas Sales and Use Tax, the C~ty of Denton may be reqmred to provide the Cornerstone Group with a certificate from the State Co~troller indicating that it is a non-profit corporation and not subjec~o State of Texas Sales and Use Tax gnature) Name David M Hill Title Acting City Manager The C~ty of Denton Agreed and accepted this day of _ ~ ,f2,001 Bill R Shelton ' Th~{I~as J Bux/~n' k Managing D~rector President & CEO The Cornerstone Group the Buxton company 1! SIGNATURE PAGE - PHASE II This agreement is between the City of Denton, the Cornerstone Group and the Buxton company ("the Parties") for the performance of services described in Phase II of this proposal The Parties further agree that an independent contractor/employer relationship is created as a result of this agreement The Cornerstone Group and the Buxton company will not be considered an agent or employee of the City of Denton for any purpose The term of this agreement is one (1) year This agreement may be terminated by either party at any time upon written notice of 30 days If tins agreement is terminated, the Cornerstone Group and the Buxton company will be paid for servlcas performed up to the date the written notice is received This agreement shall be administered and interpreted under the laws of the State of Texas In order to avoid paying State of Texas Sales and Use Tax, the City of Denton may be reqmred to provide the Cornerstone Group with a certfficate from the State Comptroller indicating that it is a non-profit corporation and not subject to State of Texas Sales and Use Tax (S~gnature) Name M~chael A Conduff Title City Manager The City of Denton Agreed and accepted this day~~ ~~.. Bill R Shelton ThXcn~s ] Bux ~ ~ M~aglng D~rector President & C[ The Cornerstone Group the Buxton company 12