HomeMy WebLinkAboutContract 49831 CITY SECRETARY l l
CONTRACT NO. l I
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 Fort Worth Everman/Risinger Development, 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 one hundred ten (110)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
Development Plan identifies the intended land uses in relation to the layout of on-site
and 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, Ordinance No. 18083, under which
charges ("impact fees") are imposed on new development for transportation facilities
serving the development and which are identified within the City's adopted
transportation improvements plan; and
WHEREAS, transportation impact fees must be collected and spent within the
service area(s) in which the new development is located; and
WHEREAS,the Property is located within service area Z; and
WHEREAS, the transportation facilities shown on the Development Plan are
identified within the City's adopted transportation improvements plan; and
WHEREAS, Ordinance No. 18083 Section 1-15 provides for credits against impact
fees for dedication or construction of transportation improvements shown on the
adopted transportation improvements plan; and g10
OFFICIAL RECORD
It, RECEIVED CITY SECRETARY
CIO In
N I`'7 2011w FT.WORTH,TX
�- A o
Transportation Impact Fee Credit Agreement CITY OF FORT WORTf{� CITYSECRETgRy c'►
Southland Business Park 6
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WHEREAS, Owner agrees to dedicate and construct the transportation
improvements shown on the Development Plan in exchange for credits against future
transportation impact fees; and
WHEREAS,Owner will submit a final plat to the City for approval, for which the
dedication and construction of the transportation improvements shown on the
Development Plan will be complete; and
WHEREAS, based on the anticipated traffic impacts from the development, the
City and Owner contemplate the necessity for the construction of system facilities,which
must be credited against transportation impact fees otherwise due;and
WHEREAS, the City, in accordance with Chapter 395, has determined the
maximum transportation impact fees to be charged against new development within
service area Z to be $2,962 per service unit (vehicle-miles of demand); and
WHEREAS, the Owner has received the following preliminary plat (or concept
plan) approval:
Southland Business Park Addition,PP-16-061; and
WHEREAS, the Owner has filed and recorded the following final plats:
Southland Business Park Addition, FP-17-003, by instrument D217177927
in the Tarrant County Real Property Records; and
WHEREAS,the Owner has received approval for construction plans and executed
Community Facilities Agreements for the following:
West Everman Parkway, City Secretary Contract No. 49456, City Project No.
100880.
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 construct the system facilities identified in Exhibit"D", which is attached hereto
and incorporated herein by reference. For any transportation improvement which has
been dedicated or constructed by Owner on the Property and accepted by the City prior
Transportation Impact Fee Credit Agreement Page 2 of 14
Southland Business Park
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 shall 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 given shall either be guaranteed through an executed Community Facilities
Agreement or approved and accepted by the City. 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 Parties have entered into a Community Facilities Agreement for
the dedication or construction of the system facility;
(b) The number of credits resulting from such improvement has been
valued; and
(c) 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.
(d) To the extent that any credit balance remains after allocation of
credits this Agreement may be amended to allocate such unused credits to subsequent
phases of the development.
6. Proportionality. Owner agrees that the obligation to dedicate and
construct improvements to serve the development shown on the Concept Plan, as
provided in section 2 of this Agreement, and the credits against transportation impact
fees attributed to such contributions and generally allocated to phases of the
Transportation Impact Fee Credit Agreement Page 3 of 14
Southland Business Park
development herein, are roughly proportionate to the nature and extent of the
development shown on the Concept Plan.
7. Term and Effective Date. The initial term of this Agreement shall be ten
(10) years from its Effective Date, in accordance with Ordinance No. 18083, which shall
be the date on which the last party executes the Agreement.
8. 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.
9. 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.
10. 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 Page 4 of 14
Southland Business Park
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
Fort Worth Everman/Risinger Development, LLC
a Texas Texas limited liability company
Fernando Costa
Assistant City Manager Edward P. Roski,Jr.
President and Chairman of the Board
Date: /Z�) z" /17
Date: 6
Recommended y:
Contract Compliance Manager:
By signing,I acknowledge that I am the person
responsible for the monitoring and
andle arwood administration of this contract, including
Director,Planning and Development ensuring all performance and reporting
requirements.
Approved as to Form and Legality:
ie Westerman
cvoj�,> Graduate Engineer
Douglas Black
Assistant City Attorney
M&C: None required
ATTEST:
Fo
Mary J. Kays OFFICIAL RECORD
City Secretary CITY SECR"ARy
AS FT. WORTH, TX
Transportation Impact Fee Credit Agreement Page 5 of 14
Southland Business Park
EXHIBIT LIST
"A" Description of the Property
"B" Map of Property
"C" Development Plan
"D" Transportation Improvements
"E" Credits Against Transportation Impact Fees
"F" Allocation of Credits
Transportation Impact Fee Credit Agreement Page 6 of 14
Southland Business Park
EXHIBIT A
Description of Property
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Transportation Impact Fee Credit Agreement Page 7 of 14
Southland Business Park
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Transportation Impact Fee Credit Agreement Page 10 of 14
Southland Business Park
EXHIBIT E
Credits Against Transportation Impact Fees
Net Credit
Value of Capacity Provided
City Project# Plat Case# Eligible Arterial Value
100880 FP-17-003 West Everman Parkway 5 396,552.27
Value of ROW Dedication
Instrument# Plat Case# Eligible Arterial Value
D217177927 FP-17-003 West Everman Parkway ; 137,190.83
Value of Existing Demand ;Net Credit Available S 533,743.!4
Transportation Impact Fee Credit Agreement Page 11 of 14
Southland Business Park
Paving
� Description Unit Quantity 8w* Unit Price
1 Remove Asphalt Pvmt SY 578 578 5 7.60 S 4,392.80
2 W-12'Tree Removal EA 3 3 $ 800.00 S 2,400.00
3 Unclassified Ewavation by Plan CY 6,100 6,100 $ 13.00 $ 79,300.00
4 SWPPP 21 acre LS 1 1 $ 9,439.94 S 9,439.94
5 Hydrated Lime TM 141 141 $ 162.81 S 22,956.21
6 8"Lime Treatment SY 5,885 5,885 $ 630 S 37,075-50
7 9"Conc Pvmt SY 5,605 5.605 $ 76.00 $ 425,980-00
8 4"Conc Sidewalk SF 15,580 15,580 $ 434 $ 67,617-20
9 Barrier Free Ramp,Type P•1 EA 2 2 S 1,900.00 S 3,900.00
10 4"SLD Pvmt Markin HAS W LF 256 256 $ 1.68 $ 430.08
11 4"BRIO Pvmt Markin HAS W LF 3,491 3,491 $ 1.68 $ 5,864.88
12 Topsoil CY 912 912 $ 30.00 S 27,360.00
13 Seeding,Hydromulch SY 9,074 9,074 $ 1.30 S 11,796.20
14 Traffic Control M0 4 4 $ 2,500.00 $ 10,000.00
15 6"Conc Curb and Gutter LF 175 175 $ 30.00 $ 5,250.00
16 Remove Fence LF 20 20 $ 20.00 $ 400.00
17 Remove Sign Panel and Post EA 1 1 $ 650.00 $ 650.00
Pawim Subtotal 714 712.81
Paving
1Description Unit Quantity � Unit Price CterlitAvallable
1 Trench Safety EA 244 244 S 3.90 S 95L60
2 24"RCP,Class III EA 215 215 S 115.00 $ 24,725.00
3 27"RCP,Class III EA 29 29 $ 150.00 $ 4,350.00
4 10'Recessed Inlet SY 1 1 $ 5,100.00 S 5,100.00
5 15'Recessed Inlet SY 1 1 $ 7,210.00 $ 7,210.00
Subtotal $ 42,336.60
Stone Drain Ratio for Arterial Streets 48%
Stone Drain Subtotal S 20,414.09
Street Lighting
iNo Description Unit Quantity QuantlkQuantity Unit Price CtecktAvallable
1 LED Lighting Fixture EA 8 8 $ 1,100.00 $ 8,800.00
2 LED Lighting Fixture(City Provided, EA 7 7 5 300.00 $ 2,100.00
Developer Installed
3 Rdwy Ilium TY 8 Pole(City Provided, EA 2 2 $ 6,000.00 S 12,000.00
Devlo er Installed
Street Ughtinz Subtotal S 12 000.00
Storm Drain Subtotal S 20,414.09
Paving Subtotal $ 714,712.81
Street Ughting Subtotal S 12 000.00
CONSIFAKT10NSUBTOTAL $ 747,128.40
Other Eligible Items
Descript5im
Engineering,Surveying and Material Testing 20% of Pav+ng&Storm Drain 6 149,425 38
Less City participation(Tarrant County funding) $ (500,000.00)
otal Value of Capacky Provided $ 396,552.27
Transportation Impact Fee Credit Agreement Page 12 of 14
Southland Business Park
Arterial Contribution to Total Storm Water Flow
Risinger Rd-DOE 5323
DMinaW Quo DrA�a Qua
Area A-1 2a 9.70 Arterial A-13a 6.50 Arterial
A-12b 6.20 Development A-13a 6.80 Arterial
A-13a 6.80 Arterial A-14 3.00 Arterial
A-13b 12.70 Development B-1 3.70 Arterial
A-14 3.00 Arterial TOTAL 20.30 = 48.22% of total storm water runoff
B-1 3.70 JArterial
TOTAL 42.10
Rift-of-Way Valuation for W Everman Pkwy
ROW Valuation Based on Adopted Transportation Improvements Plan
Everman Parkway Z-1,X-7
Estimated Construction Costs from Transportation $3,269,000.00
Improvements Plan
Value of Total Project Right-of-Way(209'.of $657,800.00
Construction Cost)
Total Project Right-of-Way(SF) 327,800
Right-of-Way Value Per Square Foot $2.01
ROW Valuation Based on TAD Value,as of 9/7/17
TAD Account 042240661 04596110
Total Area(SF) 1,050,667 1,378,108
Appraised Value $ 144,720.00 S 316,370.00
Value per Square Foot $ 0.14 S 0.23
Refit-of-Way Dedication
est Everman Parkway FP-17-003
Area Right-of-Way Dedication(sq ft) 68,366
Applied value per square foot $2.01
Right-of Way Value $137,190.83
otAl
CreditAvmIeW 5253,32123
Transportation Impact Fee Credit Agreement Page 13 of 14
Southland Business Park
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