HomeMy WebLinkAboutContract 55209 CSCO No. 55209
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 Old Golden Oaks, LLC,a California 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 67.100 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 oftransportation improvements identified as impact
fee eligible on the adopted TIP; and
WHEREAS, the Property is located within service area G; and
WHEREAS, the City has determined the maximum transportation impact fees to be
assessed against new development within service area G to be $1,799 per service unit (vehicle-
miles of demand); and
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
OFFICIAL RECORD
CITY SECRETARY
FT.WORTH, TX
WHEREAS, Owner has agreed to dedicate the right-of-way and constructed the
transportation improvements shown on Exhibit "D" for which credits against transportation
impact fees shall be granted; and
WHEREAS, Owner received approval for the Westside Heights preliminary plat, PP-19-
006; and:
WHEREAS, the Owner dedicated 114,427 square feet of right-of-way for Marine Creek
Parkway, an eligible arterial recorded as Instrument D220332858 on December 17, 2020; and
WHEREAS, the Owner received approval for construction plans (IPRC 19-0184) and
executed the Community Facilities Agreement(CFA-19-0122)with the City for Westside Heights,
City Project No. 102269, City Secretary Number 54380.
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 construct the system facilities
identified in Exhibit"D". For transportation improvements 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.
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:
Transportation Impact Fee Credit Agreement—CA-21-001 Page 2 of 14
Westside Heights Updated 2/15/19
(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.
(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-21-001 Page 3 of 14
Westside Heights 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
Old Golden Oaks,LLC
a California limited liability company
T�Gd/ZCL �G��l�✓
Dana Burghdoff(Jan 27,20 14:37 CST
Dana Burghdoff By:
Assistant City Manager
Jan 27 2021 C&Lalf V°l-heej
Date: C Ryan oorhees(Jan 25,202114:36 CST)
C. Ryan Voorhees
Manager
Recommended By:
c--�
DJ Ha�25,2021 14:50 CST)
D J Harrell
Director,Development Services Department
Approved as
to Form and Legality:
Ove�wl
Mack(Jan 27,202110:58 CST)
Douglas Black City Contract Compliance Manager:
Assistant City Attorney
M&C: None required By signing, I acknowledge that I am the
Form 1295:None required person responsible for the monitoring and
administration of this contract, including
ensuring all performance and reporting
ATTEST: ��FORr��
o °°
requirements.
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" 144
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PO�o
*o o* d Leonard Mantey(Jan 25,202114:24 CST)
°° o
Mary J.Kayser �a� TEXpS ap Leonard Mantey
City Secretary nna44� Planning Manager, Strategic Operations
Development Services Department
OFFICIAL RECORD
CITY SECRETARY
Transportation Impact Fee Credit Agreement—CA-21-001 FT.WORTH, TX
Westside Heights Updated
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
Transportation Impact Fee Credit Agreement—CA-21-001 Page 5 of 14
Westside Heights Updated 2/15/19
EXHIBIT A
Description of Property
STATE OF TEXAS
COUNTY OF TARRANT
BEING A 67.10O ACRE5 TRACT OF LAND OUT OF THE 1 BOWMAN 5URVEY.AB5TRACT N4_.9t THE 1 BON HAM SURVEY.
A BS TRACT Na_9'l A N D TH E GA R CIA MONTE Z& DU RA N SURVEY. AB 5TRACT No.627_TAR RANT COU NTY. TE XA5_B E ING AL L
T FAT CERTAJN TRACT ASCONV EYE DTO AZ LE AVE APT 5,LLC_ IN DOC_NcLDZ'If01842S Off ICIAL PUBLIC RECORD5,TARRANT
COUNTY.TEXA5, BEINC FURTHER DE5CRIBED BY METE5AND$OUNDSASFOLLOWS:
HEGINNIING AT A SET V2'CAPPED IRON ROD�TEXA5 SURVEYING. INC.}IN THE NORTH LINE OF FARM TO MAR1fET ROAD N4. 1220
(AA(A - A2LE AVENUE}_BEING THE SOUTH RNM05T 50UTHVA5TERLV CORNER OF THAT CERTAIN TRACT AS RECORDED IN
D21SZ85311 ORT_C_T_FOR THE SOUTHEAST AND BEGINNING CORNER OF TH15 TRACT.
TKNCE N 72'OnZ'W 172S.40FEET ALONG THE NORTH LINE OF SAID AZLE AVENUE.TO A FOUND CONCRETE MONUMENT. FOR
A CORNER OF THIS TRACT_
THENCE N 72 T%-'W 283_02FEET ALONC THE NORTH LINE OF 5AID AZ LE AVENUE. TO A FOUND V2'CAPPED IRON ROD.AT
THE 5OUTH 'END OF A CORNER CLIP. :BEING THE INTERSECTION OF THE NORTH LINE OF SAIDAZLE AVENUE AND THE EAST LIME
OF 5ANTOS DRIVE A SHOWN ON THE VIL LACE 5 OF MARINE CREEX PLAT RECORDED IN CABINET A_SLIDE 1034k PLAT
RECORDS_TAR RANTCOUNTY.TEXA5, FORA CORN EROFTHISTRACT
THENCE ALONG THE EAST LINE OF 5AJD SANTO5 DRIVE THE FOLLOWING COURSES AND DISTANCES_
N 27:11Z6° W 14-14 FE ET TO A FOUNDV2' CAPPED IRON ROD-ATTHI NORTH END OF SA ID CORNER CLIP. FOR A CORNER OF
T Fill TRACT_
N 17'46'40;' E 4.5.M FE ET TO A SET V 2' CAP PE D IRO N ROD ATE YAS SU RVEY ING_II'IC_}AT TH E B EGINNING OF A C URVE TO THE
RIGHT. HAVING RADIU5OF420.00 FEET. FOR A CORNER OF THIS TRACT_
AJ_ONG THE ARC OF 5AID CURVE TO THE RIGHT AN ARC LENGTH OF 99.39 FEET_AND WHOSE CMRD BEAR5 N 242554' E 99.17
FEET. TO A SET VF CAPPED IRON ROD�TEXA5 SURVEYING INC.}FOR A CORNER OF THIS TRACT_
N WO` l5' E2358 FEETTOA 5ETV2' CAPPED IRON ROD�TEXASSIRVEYING_JNC_}AT THE BECINNINGOFA CLANETOTHE
LEFT. HAVING RADIU5OF49"O FEET. FORA-CO RNER0F THIS TRACT.
ALONG THE ARC OF SAID CURVE TO THE LEFT.AN ARC LENGTH OF 17150 FEET-AND WHO5E CHORD MAR N 20'54'39' E
172.59 FEET.TO A SET V27'CAPPED IRON ROD{TIXA5 SURVEYING_INC_}FOR A CORNER OF TH15 TRACT_
N 10'4b'02' E M3.8 5 FEET TO A FOUND Vk'CAP PE D IRO N ROD AT THE SCNJTH EN D 0 F A COR N E R C U P. BE ING TH E
INTERSECTION OF THE EAST LIFE OF SAI)SANT05 DRIVE AND THE 50UTH LINE OF E5TRELLA STREET FOR A CORNER OF THIS
TRACT_
THENCE N 53'26-4S' E 14.75 FEET TO A FOUND 1;2'CAPPED IRON ROD AT THE NORTH END OF SAID CORNER CLIP_FOR A
CORNER OF TH15 TRACT_
THENCE583'52'16' E 100.23 FEET ALONG THE SOUTH LINE OF SAID ETRELLA STREET TOA FOUNDV2' CAPPED IRON ROD AS
THE WESTERNMOST SOUTHWEST CORNER OF SAID D2152.9531t FOR A CORNER OF TH5 TRACT.
T HE NC E 5 t'4G'4U' E 10 27.54 FEET TO A FOU N D V F IRON ROD IN TH E SOUTH L IN E OF SAID DZ15MS311 FOR A CO RN E R 0 F THIS
TRACT_
THENCE572TT34:' E1010.00 FEETTOA FOUNDV2' IRON RODATANINTERIOR ELL CORNEROFSAIDD2152.95311 FOR THE
NORTHEAST CORNER OF THIS TRACT_
THENCE 518'0n8'W ISM-27 FEET TO THE POINT OF BE-GIN NIN�
Transportation Impact Fee Credit Agreement—CA-21-001 Page 6 of 14
Westside Heights Updated 2/15/19
EXHIBIT B
Map of Property
I .T.S.
SITE
Transportation Impact Fee Credit Agreement—CA-21-001 Page 7 of 14
Westside Heights Updated 2/15/19
EXHIBIT C
Development Plan
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Transportation Impact Fee Credit Agreement—CA-21-001 Page 8 of 14
Westside Heights Updated 2/15/19
EXHIBIT D
Transportation Improvements
11tfestside H-eights
'Elqpolefar credrtW 75-
ransport;rWn lmpxk Fcr�
rJEW Rghk•af W�by 6ediosic-
�, ar+d Wnstruction
4 Lam' i �j•F.k.
_ 2
�I
:L!, Ihlc I m.proumments U miis
Wrine CreciParkway W&M af-waw uedimtan
tanstructIcm ofIvwatares arlthatmm-waf
?Jhrine arse k Parkway turn lane I In progrcsl
Transportation Impact Fee Credit Agreement—CA-21-001 Page 9 of 14
Westside Heights Updated 2/15/19
EXHIBIT E
Credits Against Transportation Impact Fees
Westside Heights
Transportation Impact Fee Credit Overview
Value of ROW Dedication
Instrument# Plat Case # Eligible Arterial Value
D2200332858 FP-19-099 Marine Creek Pkwy 224,277.31
Value of Capacity Provided
City Project # Plat Case # Eligible Arterial Value
102256 FP-19-099 Marine Creek Pk y 865,974.26
Value of Existing Demand
Building Permits in review 450,900.00
Net Credit Available 639,351.58
Transportation Impact Fee Credit Agreement—CA-21-001 Page 10 of 14
Westside Heights Updated 2/15/19
Rigkt-af-Warr Ala lu at ion for We stside Heights
Val uation Ml-Ethod i- Pre ce nta ge of TI P Project CaA
Exigible Arte ria, Marine Creek Pkwy
20 17 TFanr Wrtatian I rnpmye menu Plan Project 6-1.0
Nurnh+er
Estimat-Ed Construction Casts fr*m 21017 S4,LS$,0.00
TranWortat ion I m pFoweFnents Plan
Value of Total Project Right-of-Way( c f $$31,6m
Cans ruuUDn Coal
Total Project length(LF) 5,31-0
Arterial Crflss-Section Width (LF) M
Additiona, ROW needed for fiounda bout(SFM (I
Total Project Right-*f-Way(SF) 424,S00
Rk&-af-Wiay value Per Square Fmt 51,96
Val uation Ml-Ethcd 2-TAID appraised val ue
TAD Value as of 1/15 f 2021
TAD Account 40473945
Total AFea{5F) 2.S54,3S8
Appraised Val-je $2,0S2,400-00
Val u-E p2r Square Foot $G181
Right-of-Way ai?dication
Marine Creek Pkwy
Recar-ding Instrument Number D2200332858
Recording Date 12/8/2020
Total area of FOOW de-dicated 114,427 sq ft
Value per SF 51-M
Credit $224,277.31
Total Credit Available P24,277.31
Existing Demand SOS
Net Cr-edit Available $221.277.31
Transportation Impact Fee Credit Agreement—CA-21-001 Page 11 of 14
Westside Heights Updated 2/15/19
Capacity Novi-ded by Marine Creek Parkway Improvements CPN 1-132269
Paring
lt� Eligible Completed
Desuiptian Unit Unit Price
Pm- Qaan " CLuarktity oreditAwaiatge
1 6'LIME TREATMENT SY 6971 fi 971 $ 4.75 $ 3311.2.25
2 7'CONC PVMT SY 6 584 6 584 $ 45.25 $ 297 925.00
3 HYDRATED LIME TN 226 126 $ 1EAM $ 20 664.00
4 4'CONC SIDEWALK SF 28 92 28,392 $ 5.51 $ 156 439.92
5 BARRIER FREE RAMP TYPE P-i EA 2 2 $ 1,975.00 $ 3,950.00
5 4'SLD PVMT MARKING HAS'V1 LF 0 0 $ 1.15 $ -
7 4'5LD RVMTMARKING HAS'Y LF 438 438 1.15 $ 503.70
8 S'SLD PVMT MARKING HAS W LF 3 M 3 222 "y 2.20 7088.40
9 S'SLD PVMT MARKING HAS Y LF 63 63 $ 2.20 $ 138.60
10 24'SLD PVMT MARKING HAE WJ LF 17 17 "y 6.50 $ 107.25
11 REFL RAISED MAR KER TY II-A-A EA 64 64 "y 4.40 $ 291.60
12 REFL RAISED MAR KER TY II-C-R EA 0 0 4.40 $ -
13 BLOCK SOD PLACEM ENT SY 3,748 3 748 $ 5.50 $ 20 614.00
14 INSTALL ALUM SIG NGROUNDMOUNT EA 3 3 $ 770M 2310.00
15 REMOVE BARRICADE TYPE III EA 0 0 $ 5D0-00 $ -
16 BAR RI-CADE TYPE III EA 1 1 "y 2,850.00 2950.00
Paying subtotal $ 549B5.T2
Storm drain
Item Eliflible Completed
Description Unit Unit Price
No- Quantity Quantity Credit Available
1 REMOVE HEADLVAWSET =A 0 0 5 1,800.00 = -
2 MEDIUM STONE R'PRAP,DRY Sr =31 231 S 2£.00 6006.00
3 TRENCH SAFETY -F 631 631 "y 1.00 $ 631.00
S 21'R-OP-CLASS I I -F 0 0 $ 50.00 $ -
5 24'R-CP'CLASS III -F '4 70 $ 56.00 3320.04
6 30'RCP CLASS I I -F 0 0 $ 61.00 $ -
7 36'R-CP'CLASS I I -F 561 561 $ 72.00 $ 40 392.00
8 42'RCP-CLASS III -F 0 0 $ 95.00 $ -
9 4X5 BOX CULVERT tF 0 0 $ 320A0 $ -
10 4'STO RM JUNCTION&Dx EA 2 2 5 4 200.00 8 4CU.00
i i 5'STO RM JUNCTION&Dx EA 0 0 "y 5,500.00 $ -
12 G'STD RM JUNCTION&DX EA 0 0 $ 6 800.00 $ -
13 HEADWALL BOX CULVERT CY 0 0 $ 1 000.00 $ -
14 36'PARALLEL HEADWALL 1 PIPE EA 1 1 $ 3,600.00 $ 3 600.00
15 10'CURS INLET EA 0 0 "y 6 200.00 $ -
16 2.5 CUR9 INLET EA 0 0 5 7 200.00 $ -
17 20'CURB INLET EA 0 0 $ 3,600.00 $ -
23 15 RECIESSED INLET EA 4 4 S 400.00 $ 33 600.00
1 P 5'DROP INLET EA 0 0 "y 7,400.00 $ -
stonrn DFalnSubtota1 $ 96 49.00
Transportation Impact Fee Credit Agreement-CA-21-001 Page 12 of 14
Westside Heights Updated 2/15/19
Street Light Im provements
Item Eligible
14o Description Unit quantity Quan . Unit Price Credit Available
1 2'CONDT PVC sm 90 TI LF 4545 1,510 S 10.75 5 16,292.3-o
2 NO 4 TRIPLEXCH INSULATED ELM CONDR iF 13830 4,53G $ 2.10 9 51'--.c
3 GROUND BOX TYPE 5,WiAPROH EA 22 7 $ 850M 5,950.c
a FURHISHANSTALL120-240 VOLT SING LE EA 1 1 $ 6650.00 6850.00
5 RDWY ILLUM ASSNIBLYTY 10,19A,19r AND E�- EA 15 7 $ 3,735.00 $ 26,145.00
6 FURNISHIINSTALLIT-14'WhSHINGTON EA 24 0 $ 5,765.25 $ -
7 LED LIG"TING FIXTURE EA i5 7 $ 575A0 $ 4025.C7
ADWY ILLULM FOUNDATION TY 31S,5,AND S EA IS 7 $ 1,A85.00 10,3$s.C.-
RDWY ILLUM FOUNDATION TN 7 EA 24 0 $ 1,350.00 S
Street Lights SUbbM1 $ 79,110.3*
Paring Subtotal $ 545,9E 5.7,2
Storm Drain Subtotal ; 9,5,549.00
Street Lights Subtotal $ 79 110.50
COHSr1tUCT10H SUBTOTAL $ 72 61522
Other Eligibl-e Items
Description
En ineedn ,5ury onfl and Material Testing 20% of Paving&Storm Drain $ 144 329.04
Total Value of Capacity Provided $ 965,97426
Existing Demand (Building Permits in Review) CPN 102269
Paving $1,090,251.58
Street
Street Permit No. Collection Rate
No Credit Available
3609 Easterly Ave. PB20-08504 $ 50,100.00 $ 1,040,151.58
3579 Easterly Ave. PB20-08508 $ 50,100.00 $ 990,051.58
3525 Easterly Ave. PB20-08587 $ 40,080.00 $ 949,971.58
3665 Marine Creek Pkwy PB20-08589 $ 40,080.00 $ 909 891.58
3565 Marine Creek Pkwy PB20-08590 $ 50,100.00 $ 859 791.58
3565 Marine Creek Pkwy PB20-08592 8 50 100.00 $ 909 691.58
3565 Marine Creek Pkwy PB20-08594 8 40 080.00 $ 769 611.58
3565 Marine Creek Pkwy PB20-08601 $ 50 100.00 $ 719 511.58
3565 Marine Creek Pkwy PB20-08603 40 080.00 $ 679 431.58
3665 Marine Creek Pkwy PB20-08604 $ 40,080.00 $ 639 351.55
Credit Remaining $ 639,351.58
Existing Demand $450,900.00
Transportation Impact Fee Credit Agreement—CA-21-001 Page 13 of 14
Westside Heights Updated 2/15/19
EXHIBIT F
Allocation of Credits
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Transportation Impact Fee Credit Agreement—CA-21-001 Page 14 of 14
Westside Heights Updated 2/15/19