04-28-2025 Agenda Packet - Laserfiche WebLink

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COST SHARING AGREEMENT Between the City of Paris, Texas and Fikes Wholesale, LLC Re: Repair of 7th St. SW This Cost Sharing Agreement (the "Agreement") is entered into by and between the City of Paris, Texas, a Texas Home Rule Municipal Corporation ("City") and Fikes Wholesale, LLC., a Texas limited liability company, for the repair of a portion of 7th St. Southwest in the City (the "Project"). (Fikes and the City shall each be referred to as a "Party" and collectives referred to as the "Parties".) WITNESSETH: I. Effective Date 1.1 This Agreement shall take effect on April 28, 2025. 11. Recitals 2.1 The Recitals set forth herein are a part of the terms of this Agreement for all purposes. 2.2 Fikes is the owner and operator of a CEFCO gas station and convenience store (CEFCO #1100) located at 2900 South Church Street which caters to both general automotive and heavy truck traffic. The property is bounded to the west by 7th St. SW, a City street, which is regularly used by heavy truck traffic to access the station. 2.3 Over time, the heavy truck traffic has cause significant damage to parts of the Repair Area. The Repair Area is shown on the Map attached hereto as Exhibit A. 2.4 The parties hereto have agreed that it is to their mutual benefit for the City to repair the Repair Area via a full depth replacement with concrete overlay to better accommodate the heavy truck traffic and to make the street safer and more accommodating to general automotive traffic (hereinafter referred to as the "Project.") 2.5 To that end, Fikes and the City have agreed to a cost -share arrangement for the funding of the repair of that portion of 7th St. SW whereby each party is responsible for fifty percent (50%) of the Total Cost of the Project. 2.6 The City Council of the City of Paris has found that this Agreement serves a public purpose in that it allows for the repair of a damaged section of City street at a significantly reduced cost for the Project.