HomeMy WebLinkAboutContract 55417csco No. 55417
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 Pulte Homes of Texas, LP, a Texas limted partnership company authorized to do
business in Texas (the "Owner") (the City and the Owner a"Parry", and collectively, the "Parties").
RECITALS
WHEREAS, the Owner is the owner of approximately� 36.460 acres in Tarrant County, Texas,
as described by metes and bounds in Exhibit "A" (the "Property") located within the corporate
boundaries of the Ciry. A map of the PropertyT 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
Loca1 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
transpo�tation 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 transportarion facilities identified within the City's adopted Transportarion 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 constYuction of transportation improvements identified as impact fee eligible
on the adopted TIP; and
WHEREAS, the Property is located within service area Y; and
WHEREAS, the City has determined the maximum transportation impact fees to be assessed
against new development within service area Y to be $2,370 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
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
WHEREAS, the Owner has received approval for the Kelly Tract preliminary plat PP-18-
086; and
OFFICIAL RECORD
Transportation Impact Fee Credit Agreement - CA-21-004
Newberry Point CITY SECRETARY
FT. WORTH, TX
WHEREAS, the Owner has dedicated 8,668 square feet of right-of-way for West Cleburne
Road, recorded as Instrument D220198683, August 13, 2020; and
WHEREAS, the Owner has executed a Future Improvement Agreement for eligible
construction on West C1ebuYne Road by Ciry Secretary Contract NumbeY 54135 on July 13, 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. Trans�ortation Im�rovements. Owner dedicated the right-of-way and provided a
future improvement agreement for the system facilities identified as completed on Exhibit "D" that
have been accepted by the City prior to execution of this Agreement.
3. Credits. The PaYties agree that the estimated value of the cYedits foY each
transportation improvement, expressed in current dollars, shall be as set forth in Exhibit "E". The
value of credits associated with the improvements ftrst 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 constYuction of improvements by phase shall be as depicted in
Exhibit "D", which is attached hereto and incorporated herein by reference.
5. Allocation of Credits b� 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 cYeated 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 Ciry 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. Assignment. 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
Transportation Impact Fee Credit Agreement — CA-21-004 Page 2 of 12
Newberry Point Updated 2/23/2021
wYiting 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 heYeunder for
use outside the boundaries of the Property�.
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 wYiting 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-21-004 Page 3 of 12
Newberry Point Updated 2/23/2021
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
Dc1hA Bu�'GIHG1o��
Dana Burghdoff � 4ar P, 202111:48 CDT)
Dana Burghdoff
Assistant City Manager
Mar17,2021
Date:
Recommended B�T:
���
DJ Ha�r 16, 202114:51 CDT)
D J Harrell
Director, Development Services Department
Approved as to Form and Legality:
�
DBlack (Mar 17, 2021 08:23 CDT)
Douglas Black
Assistant City� Attorney
M&C: None required
Form 1295: None required
AT'TEST:
� �� -,� ,
Mary J. Kayser
City Secretary
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Transportation Impact Fee Credit Agreement — CA-21-004
Newberry Point
OWNER
Pulte Homes of Texas, LP
a Texas limited partnership
By: Pulte Nevada I, LLC
Its general partner
��
Curt Millward (Mar 15, 202111:15 CDT)
Curt Milward
Division Director Land Development
City Contract Compliance Manager:
By signing, I acknowledge that I am the
person responsible for the monitoring and
administration of this contract, including
ensuring all performance and reporting
YequiYements.
�
Leonard Mantey (Mar 13, 202117:25 CST)
Leonard Mantey
Planning Manager, Strategic Operations
Development Services Department
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
EXHIBIT LIST
"A" Description of the Property
`B" Map of PropertyT
"C" Development Plan
"D" Eligible Transportation Improvements
"E" Credits Against Transportation Impact Fees
"F" Allocation of Credits
Transportation Impact Fee Credit Agreement — CA-21-004 Page 5 of 12
Newberry Point Updated 2/23/2021
EXHIBIT A
Description of Property
BEING a tract of land situated in the Moses Walters Survey, Abstract Number 1598, City of Fort
Worth, Tarrant County, Texas, being all of that north tract of land described by deed to Pulte Homes
of Texas, L.P., recorded in Instrument Number D219116135, County Records, Tarrant Count�T, Texas
and being more particularly� described by Metes and bounds as follows:
BEGINNING at the most northerly northwest corner of said Pulte tract, being the northeast corner
of that tract of land described by deed to Jerry Savelle recorded in Volume 7080, Page 1514, said
county records and being in the south right-of-way line of West Cleburne Road (a variable width right-
of-way);
THENCE N 89°29'44"E, 2080.24 feet, with the north line of said Pulte tract and said south right-of-
way line, to the northeast coYneY of said Pulte tract and being in the approximate centerline of Old
Cleburne Crowley Junction (a variable width right-of-way);
THENCE S 00°49'23"E, 650.10 feet, departing said common line, with the east line of said Pulte tract
and said approximate centerline to the southeast corner of said Pulte tYact and the noYtheast corner
of that tract of land described by deed to Texas Electric Service Company (T.E.S.CO.) recorded in
Volume 3554, Page 613, said County Records;
THENCE S 89°12'37"W, 276496 feet, depaYting said east line, with the north line of said T.E.S.CO.
tract, to the southwest corner of said Pulte Tract and the northwest corner of said T.E.S.CO. tract,
and being in aforementioned West Cleburne Road;
THENCE N 00°22'11"W, 329.05 feet, departing said north line, to the most westerly northwest
corner of said Pulte tract;
THENCE N 89°09'00"E, 682.30 feet, to an "ell" corner in the west line of said Pulte tract and the
southeast corner of the aforementioned Jerry Savelle tract;
THENCE N 00°51'00"W, 330.70 feet, with said west line and the east line of said Jerry Savelle tract
to the Point of Beginning and containing 1,588,216 square feet or 36.460 acres of land more or less.
Transportation Impact Fee Credit Agreement — CA-21-004 Page 6 of 12
Newberry Point Updated 2/23/2021
EXHIBIT B
Map of Property
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Transportation Impact Fee Credit Agreement — CA-21-004 Page 7 of 12
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EXHIBIT C
Development Plan
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EXHIBIT D
Transportation Improvements
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Transportation Impact Fee Credit Agreement — CA-21-004 Page 9 of 12
Newberry Point Updated 2/23/2021
EXHIBIT E
Credits Against Transportation Impact Fees
N�w��rr�+ P�ir�t Pha�� 1
Net [r�dit �#gainst Transportation Imp�ct Fees
�lalu� ��Capacit}� Rrow���d #�r �I�hUri7e I�oad
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h �rtur� I r� pr��,r�i77�r�t� ��i ��r�7�rrt ��J �13� h P-19-Q81
7otal CredYt EaFM1ed
�XiS'Ci�l$ L7�P'IaR���f �i53i��17"i2� �5�171f'3
f4��ft�� F'�ff"it �uff7��f L7Bt� �5�4
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Net Credrt AMalla�le (Credrt less �rnand] $ L�a,��1.�4
Transportation Impact Fee Credit Agreement — CA-21-004
Newberry Point
Page 10 of 12
Updated 2/23/2021
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Transportation Impact Fee Credit Agreement — CA-21-004
Newberry Point
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Page 11 of 12
Updated 2/23/2021
EXHIBIT F
Allocation of Credits
First come, first served within the boundary of the recorded final plat
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Transportation Impact Fee Credit Agreement — CA-21-004
Newberry Point
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Page 12 of 12
Updated 2/23/2021