HomeMy WebLinkAboutContract 54734 CSCO No. 54734
TRANSPORTATION IMPACT FEE CREDIT AGREEMENT
THIS TRANSPORTATION IMPACT FEE CREDIT AGREEMENT (the
"Agreement") is made and entered into effective as of the Effective Date (as defined
below),by and among THE CITY OF FORT WORTH,TEXAS (the"City"),a Texas home
rule municipal corporation, and JRC Haslet Springs, LLC, a Texas limited liability
company authorized to do business in Texas (the "Owner") (the City and the Owner a
"Party", and collectively, the"Parties").
RECITALS
WHEREAS,the Owner is the owner of approximately 2_5 acres in Tarrant County,
Texas, as described by metes and bounds in Exhibit"A" (the "Property") located within
the corporate boundaries of the City. A map of the Property showing its location is
attached hereto as Exhibit"B"; and
WHEREAS, the Owner desires to proceed with development of the Property as
described or illustrated on the Development Plan, attached hereto as Exhibit"C",which
identifies the on-site and/or off-site transportation facilities necessary for serving full
development of the Property; and
WHEREAS,the City has adopted a Transportation Impact Fee program pursuant
to Texas Local Government Code Chapter 395, codified in City Code Chapter 30, Article
VIII,et seq.,as amended, under which impact fees are imposed on new development for
impacts to the City's transportation facilities as a result of said development; and
WHEREAS,transportation impact fees are collected and must be spent by the City
on impact fee eligible transportation facilities identified within the City's adopted
Transportation Improvements Plan ("TIP"), as amended, within the service area(s) in
which the new development is located; and
WHEREAS, the Impact Fee Program provides for credits against impact fees for
dedication of right-of-way and/or construction of transportation improvements
identified as impact fee eligible on the adopted TIP; and
WHEREAS,the Property is located within service area B; and
WHEREAS, the City has determined the maximum transportation impact fees to
be assessed against new development within service area B to be $3,316 per service unit
(vehicle-miles of demand); and OFFICIAL RECORD
CITY SECRETARY
FT.WORTH, TX
Transportation Impact Fee Credit Agreement-CA-20-008 Page 1 of 12
JRC Haslet Springs Updated 2/15/19
WHEREAS,certain transportation facilities depicted on Exhibit"D"are identified
as impact fee eligible within the City's adopted TIP and therefore eligible for impact fee
credit; and
WHEREAS, Owner has agreed to dedicate the right-of-way and/or constructed
the transportation improvements shown on Exhibit "D" for which credits against
transportation impact fees shall be granted; and
[DEVELOPER: include in recitals any facts relating to improvements that have
already been approved/accepted by the City,and to existing phases of the development
which are served by the improvements. For example:
WHEREAS, the Owner has received the following preliminary plat (or concept
plan) approval:
JRC Haslet Springs Addition, PP-19-050; and
WHEREAS, the Owner has dedicated 12,015 square feet of right-of-way for
eligible arterial,Willow Springs Rd:
Recorded as Instrument D220054470, recorded March 6, 2020.
NOW, THEREFORE, for and in consideration of the mutual agreements,
covenants, and conditions contained herein, and other good and valuable consideration,
the City and the Owner hereby covenant and agree as follows:
1. Recitals. The recitals contained in this Agreement are true and correct as of
the Effective Date and form the basis upon which the Parties negotiated and entered into
this Agreement.
2. Transportation Improvements. Owner agrees to dedicate the rights-of-way
for and/or construct the system facilities identified in Exhibit "D". For any
transportation improvement which has been previously dedicated or constructed by
Owner on the Property and accepted by the City prior to execution of this Agreement,
the improvement shall be identified as completed on Exhibit"D".
3. Credits. The Parties agree that the estimated value of the credits for each
transportation improvement, expressed in current dollars, shall be as set forth in
Exhibit"E". The value of credits associated with the improvements first shall be reduced
by the Schedule 2 impact fee associated with any lot for which a building permit has
previously been issued, and the net value of credits shown on Exhibit "E" shall be
considered as exact.
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4. Phasing. The Parties acknowledge that, where it is anticipated that the
project will be developed in phases, the anticipated construction of improvements by
phase shall be as depicted in Exhibit "D", which is attached hereto and incorporated
herein by reference.
5. Allocation of Credits by Phase. The general allocation of credits to each
phase of the development shall be as shown on Exhibit"F",which is attached hereto and
incorporated herein by reference. The Parties agree that the credits identified in this
Agreement shall not be deemed to have been created until the system facility for which
credit is to be granted has been dedicated and accepted (in the case of right-of-way) or
constructed through an executed Community Facilities Agreement and final acceptance
by the City has been obtained. The Parties further agree that, prior to the application of
a credit against transportation impact fees otherwise due for any unit of development;
the following events shall take place:
(a) The number of credits resulting from such improvement has been
valued; and
(b) Concurrent with final plat approval, a credit allocation shall be
provided by the developer for the phase of development to which the credit is to be
applied,which allocation may either assign the credit,expressed in dollars,to each finally
platted lot or may create a credit-pool to be utilized by that phase of development.
6. Term and Effective Date. The term of this Agreement shall be ten(10)years
from its Effective Date.
7. Agreement to Run with the Land. Owner shall have the right to assign
this Agreement to any person or entity ("Owner's Assignee") with the written consent of
the City, provided: (a) the assignment is in writing executed by the Owner and its
assignee;and (b) the assignment incorporates this Agreement by reference and binds the
Owner's Assignee to perform (to the extent of the obligations assigned) in accordance
with this Agreement. Each Owner's Assignee shall become a Party to this Agreement
upon the execution of such assignment. In no event may this Agreement be construed
to authorize assignment of any credits attributable to a system facility to be dedicated or
constructed hereunder for use outside the boundaries of the Property.
8. Amendment. This Agreement shall not be modified or amended except as
follows:
(a) Any amendment or modification to this Agreement or any Exhibit or
schedule hereto shall be in writing and signed by the Parties.
Transportation Impact Fee Credit Agreement-CA-20-008 Page 3 of 12
JRC Haslet Springs Updated 2/15/19
(b) Any revision, amendment, or modification to this Agreement, the
Development Plan, or any Exhibit or schedule thereto, shall become
effective on the date executed by the Parties or,as applicable,upon the date
of approval by the City Council or designated city official.
9. Exhibits. The exhibits attached to this Agreement are incorporated as part
of this Agreement for all purposes as if set forth in full in the body of this Agreement.
(Remainder of Page Intentionally Left Blank)
Transportation Impact Fee Credit Agreement-CA-20-008 Page 4 of 12
JRC Haslet Springs Updated 2/15/19
IN WITNESS WHEREOF, the undersigned parties have executed this Agreement to be
effective as of the date subscribed by the City's Assistant City Manager.
CITY OF FORT WORTH, TEXAS OWNER
JRC Haslet Springs LLC
a Limited Liability Corporation
7544u?,gu"A&(6
Dana Burghdoff(Oft 23,20 18:22 CDT)
Dana Burghdoff
Assistant City Manager Teremy cat"ail
Jeremy Cutsail(Oct 19,2020 09:21 CDT)
Date: OCt 23� 2�2� Jeremy Cutsail
Owner
Recommended By:
✓��7h`&Ip2lyl
DJ Harrell(Oct 22,202013:51 CDT)
D.J. Harrell
Director,Development Services
Approved as to Form and Legality:
DBlack(Oct 22,2020 17:58 CDT)
Douglas Black City Contract Compliance Manager:
Senior Assistant City Attorney
M&C: None required By signing, I acknowledge that I am the
Form 1295:None required pd4�onu� person responsible for the monitoring and
p� F°Rroodd administration of this contract, including
o�o 10� ensuring all performance and reporting
ATTEST: o° o*_° requirements.
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r Ronald P.Gonzales(Oct3,202018: Dl�
) Leonard Mantey(Oct 16,2020 17:54 CDT)
Mary J.Kayser Leonard Mantey
City Secretary Planning Manager
OFFICIAL RECORD
CITY SECRETARY
FT.WORTH, TX
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JRC Haslet Springs Updated 2/15/19
EXHIBIT LIST
"A" Description of the Property
"B" Map of Property
"C" Development Plan
"D" Eligible Transportation Improvements
"E" Credits Against Transportation Impact Fees
"F" Allocation of Credits
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EXHIBIT A
Description of Property
REGINNING at the Southeast corner of the tract being described herein at a PK Nail found in Willow
Springs (load for the Southeast corner of said 2.50 acre tract of land;
THENCE South 89" 52' 44" West, with the South line of said 2.SO acre tract of land, passing the
Northeast corner of Lot 2, Clock 1, 'Willow Springs Addition, according to the plat thereof recorded in
Instrument No. 0215176037, Plat Records, Tarrant County, Texas, continuing on sold course with the
South line of said 2.SO acre tract of land and the Norih line of said Lot 2 for distance of 398.91 fleet to cs
capped iron rod set for the Southwest corner of said 2.50 acre tract of land, from which a capped iron rod
stamped "ARS" found for reference bears North 79'41'34" Westr o distance of 5.69 feet and a capped
iron rod found for the Southwest corner of that certain called 20.881 acre tract of land described in the
deed to Haslet Springs, LP, recorded in Instrument No. D216050184, Official Public Records, Turruni
County,Texas bears South 89`52'44"West, a distance of 509..15 feet;
THENCE North 00' 31' 26" West, with the West line of said 2,50 acre tract of land, a distance of 273,92
feet to a.copped iron rod stamped"KAI"found for the Northwest corner thereof;
THENCE South 990 59' 27" East, with the North line of said 2.50 acre tract of land,.a distance of 398.92
foot to a Mug Nail found in said Willow Springs Road for the Northeast corner thereof;
THENCE South 00"31'26" East, along said Willow Springs Road and with the East lint of said 2.50 acre
tract of hand,a distowo of 273.01 feet to the POINT Of BEGINNING and containing 2.504 acres of land,
more or less.
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JRC Haslet Springs Updated 2/15/19
EXHIBIT B
Map of Property
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JRC Haslet Springs Updated 2/15/19
EXHIBIT C
Development Plan
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JRC Haslet Springs Updated 2/15/19
EXHIBIT D
Transportation Improvements
JRC Haslet Springs
*Eligiblefor GreditAgainst
Transportation Impart Fees
Right-of-Way dedication -44
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Instrument
Eligible Arterial Eligiblelrnprovernents t
Number
d22005447f) Willow5pringsRd ROW dedication of Willow5pringsfor -
273 ft al ong pro perty frontage
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JRC Haslet Springs Updated 2/15/19
EXHIBIT E
Credits Against Transportation Impact Fees
Right-of-Way Value Estimate for JRC Haslet Springs, FS-18-181
ROW Valuation Based on Adopted Transportation Improvements Plan
Eligible arterial Willow Sprin`,s
2017 Transportation Improvements Plan Project B-17
Number
Estimated Construction Costs from 2017 $.3,527,000
Transportation Improvements Plan
Value of Total Project Right-of-Way (20% of $705,400
Construction Cost)
Total Project Length (LF) 2,480
Arterial Cross-Section Width (LF) 110
Additional ROW needed for Roundabout (SF) 0
Total Project Right-of-Way (SF) 272,800
Right-of-Way Value Per Square Foot $2.59
TAD Value as of 7/31/20
TAD Account 42.339772
Total Area (SF) 108,900
Appraised Land Value $140,000.00
Value per Square Foot $1.29
Right-of-Way Dedication
Willow Springs
Final Plat Case Number FS-18-181
Recording Instrument Number D220054470
Total area of ROW dedicated 12,015 sq ft
Value per SF (Maximum of highlighted cells) $2.59
Total Credit Available $31,118.85
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EXHIBIT F
Allocation of Credits
Credit will be allocated on a first come,first serve basis within the boundary of the
recorded plat FS-18-181
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JRC Haslet Springs Updated 2/15/19