HomeMy WebLinkAboutContract 55629csco No. 55629
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 Southwest Basswood 35 LP, a Texas limited partner 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 approximatel�� 2.407 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 F; and
WHEREAS, the City has determined the maximum transportation impact fees to be assessed
against new development witivn seYvice area F to be $675 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 executed a future improvement agreement for the transportation
improvements shown on Exhibit "D" for which credits against transportation impact fees shall be
granted; and
WHEREAS, the Owner has recorded the Southwest Basswood final plat (FS-21-005) by�
Instrument D221074167, March 19, 2021; and
Transportation Impact Fee Credit Agreement - CA-21-010
Southwood Basswood
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
WHEREAS, the Owner has executed a Future Improvement Agreement for Basswood
Boulevard, an eligible arterial in the 2017 Transportation Impact Fee Study by Ciry Secretary Contract
Number 55445, dated March 23, 2021.
NOW, THEREFORE, for and in consideYation 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 Yecitals contained in this Agreement are true and corYect as of the
Effective Date and form the basis upon which the PaYties negotiated and entered into this Agreement.
2. Trans�ortation Im�rovements. Owner has executed a future improvement agreement
for the system facilities identified in 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 b�� 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. Phasin�. 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 C�edits b� Phase. The general allocation of cYedits 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 sha11 take place:
(a) The number of credits resulting from such improvement has been valued; and
(b) Concurrent with final plat approval, a credit allocarion 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) yea�s 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 w�itten 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
Transportation Impact Fee Credit Agreement — CA-21-010 Page 2 of 11
Southwest Basswood Updated 2/23/2021
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 Propert��.
Amendment. This Agreement shall not be modified oY amended except as follows:
(a) Any amendment or modification to this Agreement or an�T 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 effecrive on the date executed by the
Parties oY, 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
AgYeement foY all purposes as if set foYth in full in the body of this Agreement.
(Remainder of Page Intentionally Left Blank)
Transportation Impact Fee Credit Agreement — CA-21-010 Page 3 of 11
Southwest Basswood 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
T�c� ��.�.G.G
DanaBurghdoff(Apr26,20 9:OSCDT
Dana Burghdoff
Assistant City Manager
Apr 26, 2021
Date:
Recommended B�T:
���
DJ Ha� 21, 2021 1526 CDT)
DJ Harrell
Director, Development Services
Approved as to Form and Legality:
1�=� 1
DBlack (Apr 23, 2021 19:16 CDT)
Douglas Black
Assistant City� Attorney
M&C: None required
Form 1295: None required
AT'TEST:
� /�-�I,
Mary J. Kayser
City Secretary
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Transportation Impact Fee Credit Agreement — CA-21-010
Southwest Basswood
OWNER
Southwest Basswood 35 LP
a Texas Lim� ed Partnership
�
Willi mSandford pr21,202115:07CDT)
W.A. "Andrew" Sandford
Manager
City Contract Compliance Manager:
By signing, I acknowledge that I am the
person responsible for the monitoring and
administration of this contract, including
ensuYing all performance and �eporting
requirements.
�/W� V
for
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-21-010 Page 5 of 11
Southwest Basswood Updated 2/23/2021
EXHIBIT A
Description of Property
l�E{�INltil!YC� a� a S��t inch hcrn ecFxar Fv�and at the nnrthcact Itrl iYirrter nf suid I.s,t 2H2�1. sams t+cmg [hc r,urtlru�e�t lut
ccFmcr �ti� I.3}� 2R1. R1�TCk 3, ���uihu��st F#:is��wrurd. Fxing sn ,uldiliun in rhe ["it. cat I�t,rt Wnnh. 1�arrant ['aunE•�. T�.�s�.-
acci�rding tc+ thc pEa� [her�x,f tilc�l ii,r r�*44,rd urxler Instrumcrn'.tiumber D� I i,l EKti55_ { Y.I'.R.�I�,C'.T.. ut�d lxnt rchar kx:ing �rrr
ll�r ,a�uth rigltt�t=vw�s}� line ui Fiassv.�wd P.�rulck:utl, F�;n� u t�arfah�c rti'i�ilh righl�}i=uu��, �� ties�:rib�:d in pwrt in ihc de�i ►�3
thc Stu[c 4�f l-tx� Jescril�i aR "['arccl ?tio_ �'"_ rcccircircl in k'ulume 1�IUR5. �'a�c 576. l7CCd Itet:txrtiis. "I;�manl C'uun4},
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[-kik:'*1C'k: 4{ f[:`I'l l 0[k" 3$' 3!" 1'A51. ,ti�;th �hc cast ]nt �inc c,f' said l,oti 2R2-I �rt�i u'it� lh� �'�;tit 14}I ]ine {a£ w�d LA+I �I{ 1.
.y �i_".i]IYL� iYt �I�__i5 fcci L�+ an "X" �:u[ in cuntrc�te ti��n�i at thc x�u[h+r�rs[ ]�tt c��mcr c�i ssi�i l.��l 2Ri, 3amc
hcin�, [h� nnrihtite�t I���unrncr ni-l.at?R2-3. Fircx:�: I iaf sa'td 4txu�h�;�sl �3as�+.+��vx1 �I'�4'!# 1]219�iaj81l:
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said I.art "_'R?-i. •r �iist�ni'� ut� #5-6� feel u� a I�? �nch l::lj]j7tl[I tC�� AI:YIt7F3C� "RI;AS�,Y SilE�i" IisunJ al thc _
�taulhra�t ]tal �nmcrul sai�E I.t+t 2R2-1_ �ne Fxin�* 1}tc masl niF�therlt� nurtltr.�Sl lol �urn�K ��t lail l, ISl�rtk l,
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`1 arza�t �'{juniv. -f rAcas iY,R;1-,L',l .l;
'T'i �Fi'v('}; Si�l;�f71 �H� ? I' T�" 15�'I:S i�, wiUi dtc scruth io� ]�n� c,�" �id 3�at ?��2-I �nd uiti� lh4 niuth l[slline oF- said l.vE I.
p�5sin� :�t a dis[ancc uf 1�19,SG fe�'t s stt ]�2 inc� c;sppa.x� rc.i�su slam�ed �:II�F� I.:3f11j SI1ftiC4 I�l�*•. amtinning
uitlti said Icrt lincs in tntal_ a c�itt:►nc� cF1 374,1 fi f�GK uF a t.'2 inch cappa:<l echpr s�+ut�{std "JP Assrxiates" fi,un�3
at st,ushucal Int 4�,rnim t�t"sr;�i I.�,l 2ft�-S_ s:�mc hc.ing ih� n��rtlsti+�cst I�n oi,�ncr �sR sa;d [.t,t 1_ said f'ound ref�r
heing im lhc casl righl{�i��rsy linc t�f {11d S�n4i I'c �I`rail_ F+ciFlg S ti:IfI��C WYi�I}Y ]l�"}I�ikl-WJt', t�CC4}[cjll7� ii}
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'I�i�:NC'i�: 'ti11R'I'll ilfl` iR' if}" W'k:�'1'. titilh !hc uL'�[ I4�t Iinc �if' �id l,nt 2R2-! antl �+��lh the suid righl�+f=u�uti lint. �
�iislsnae ut `�81.3? fc�4 �� � 1:z inch capFx:d rebar �l;lmpekl "JI'}i I.snd 4urtctin�" wel al thc �r�cslcrl�
nurthw���t Icrt cc,rncr cFf �id t.s,t '_Ft2-1, ti3mc hcing thr u,ulh end t3t` a right��l�w�� ti�omCr tliry of thc �i�
ri�h�n�l=��ay Ifnc ti4�ith ihtaforcmcnlioncd u+ut4, r;�ht-,�t=k.ay lincol�4�assw��exi i��ule�ard;
�1�1!l�.ti['I�: ti{11{ I`Ei 44a 2l' 3U" 1=ASl', K�ilh the n��rthwe�t ]t,t linc uf s,ai�i i ut 2R2-1 an�i wiih !hc s:►id ctwmer clip. 3
dislar+cc uf I-►.1-� icst i« a 1;'? inch cap�xl rchar s�m�d "7!'F� I.and ��n•eti•in��. ut at thE ourlherl+• eorthuc�t
lisl ��urncr ui-�su�l f.crt 2R2-I :�ntl Ihc nnrth cn�i oi�lhe st�i�i �irmcrtlip;
�f13��('I� u�i4fs [hc tt�tinh k�t linc ��f said l.oi 2R2-1, and ;i-i�h �hc saiJ uiath r��hii�t=u•ati� ]inc �rf I�a��uc� I�truie►�ar�.
lhc CirlEsa��ing �anut3e5 �ied d+stances=
I. 'tii11{ �"f{ S9' 21' 3U" k:!l47'. a �3.sSttnee of 9(a,85 u� a sce Ii* inch capreJ r�Frar:�ampecl ��JPF� I,:utJ Sur4����ing".
�x in� s�I Ii�e x��es[ linc ctf zhc afarcmenlioncci -i'ar��el �n_ 3" tn �he 4ixic nf l�cxxs:
2. tiiil;'I'Fi l�R}' �t' 1S" t;A4"[-. u dFSWn�ti uF 1_;_�] lix.-t [t+ a�re}as f}cp:trtmcnl nf ]'ransps,ri:lli4�n liight uf V4�a}�
hrtxnfc �� in rnncr�Kr. he�ing xi ihc �ti4�4hwrst r,��rner nfM:►id "P:uxxV'tin. 3"' in th� tiEalct�€ I-cx35:
3. '�i[7ft'i'1� $�1'' 11' ;b" ��A�T. pa�tiin� sl a di�[ariCe uf !17_72 I�xl a Sr:l 1;2 inCh t�ed rrbstE s48rm�1 ��JYFI
l.an�1 Sun�rtin���. in sIJ a uslsl di�lsncc vi 16ii.7? fi��t !�� a{x>inl �h�m wi1iC� ;� 4-' F€f11�' �'?CI7(1'I' m;�rrumerif
�.i[h hn,nrc wp it� �x�nirete ti�und �can�;(}RTF� 3fi° �'4'I•:S I-_ Il.� Fiel:
�l_ S#}�"IFi 80° �3' �'i" I•:.q�l�. a distancc nf 101.17 fe�C tetuming t❑ thc P{li�T [l� f�F(�t'4TVI'�1f� �n�i
en�li}sing _'_�#fl7 acres { : 1{}�.8ti5 �yu�re tCCil.
Transportation Impact Fee Credit Agreement — CA-21-010 Page 6 of 11
Southwest Basswood Updated 2/23/2021
EXHIBIT B
Map of Property
�I�II�IT� �1�I��
[ti� � i � i �c D �� r�j -�'.
Transportation Impact Fee Credit Agreement — CA-21-010 Page 7 of 11
Southwest Basswood Updated 2/23/2021
EXHIBIT C
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Transportation Impact Fee Credit Agreement — CA-21-010 Page 8 of 11
Southwest Basswood Updated 2/23/2021
EXHIBIT D
Transportation Improvements
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5ourf�west Basswood
'Cli�itile!o� CreditAgairst
Trar.soortatian Impact Fces
fu=urc Irnprovement
A�r^_cment
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Transportation Impact Fee Credit Agreement — CA-21-010 Page 9 of 11
Southwest Basswood Updated 2/23/2021
EXHIBIT E
Credits Against Transportation Impact Fees
5outhwest Basswoad
Net Credit Against Transportation Impact Fees
Value of Future Improvement Agreement
Instrument # Plat Case # Eligible Arterial Value
CSC� 55445 FS-21-Q�5 Basswoad Boulevard $ 71,245.Q�
$ -
Tatal A►►ailable Impact Fee Credit $ 71,Z45.fl�
Value of Existing Demand
Street No. 5treet
Permit #
Callectian Rate
2858 Basswaad Blvd. PB21-�5�59 $ 24,336.��
Net Credit A�ailahle $ 46,9fl9.�a
Transportation Impact Fee Credit Agreement — CA-21-010 Page 10 of 11
Southwest Basswood Updated 2/23/2021
EXHIBIT F
Allocation of Credits
• $24,336.00 is allocated for Lot 2R3-1, Block 1, Southwest Basswood
• Remaining credit issued on a first-come, first served within Lot 2R3-2, Block 1, Southwest
Basswood (Highlighted in Red)
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Transportation Impact Fee Credit Agreement — CA-21-010 Page 11 of 11
Southwest Basswood Updated 2/23/2021