HomeMy WebLinkAboutContract 52938 CITY SECRETARY
CONTRACT NO.. Do �3
RECEIVED
OCT 14 2019 TRANSPORTATION IMPACT FEE CREDIT AGREEMENT
CITY OF FORT WORTH
CITY SECRETARY
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 IMPRESSION COVENTRY EAST, 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 15.71 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 Z; and
WHEREAS, the City has determined the maximum transportation impact fees to
be assessed against new development within service area Z to be $3,706 per service unit
(vehicle-miles of demand); and
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L RECORD
SECRETARY
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Transportation Impact Fee Credit Agreement-CA-19-010 QVII TA2
Coventry East Ph 3
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 the following preliminary plat approval:
Coventry East, PP-05-036; and
WHEREAS,the Owner has received approval for construction plans and executed
Community Facilities Agreements, and obtained final acceptance by the City on May 20,
2019 for the following:
Coventry East Ph. 3, City Project Number 101342, Plans File No. W-2543.
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.
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.
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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.
(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.
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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)
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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
Impression Coventry East, LLC
a Texas limited liabili rporation
vw�
Dana Burghdo f
Assistant City_ anager
ce Heikkinen
Date: { �� Manager
Recommended By:
an e Hamikood
Director,Planning and Development
Approved as to Form and Legality:
6 e-�4p
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: requirements.
4ul' Westerman
City Secretary C duate Engineer
r
L RECORD
ECRETARY
ORTH, TX
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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
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METES & BOUNDS DESCRIPTION
BEING A 15.710 ACRE TRACT OF LAND LOCATED IN THE W. STONE SURVEY, ABSTRACT
NO. 1400, CITY OF FORT WORTH, TARRANT COUNTY, TEXAS, BEING A PORTION OF A
CALLED 49.886 ACRE TRACT OF LAND AS DESCRIBED IN THE SPECIAL WARRANTY DEED
WITH VENDOR'S LIEN TO JEAN ACRES, L.P. (TRACT I), FILED FOR RECORD IN COUNTY
CLERK'S INSTRUMENT NO. D205076768, OFFICIAL PUBLIC RECORDS, TARRANT COUNTY,
TEXAS (OPRTCT), SAID 15.71.0 ACRE TRACT OF LAND BEING MORE PARTICULARLY
DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING AT A 5/8 INCH CAPPED IRON ROD FOUND STAMPED "JACOBS" FOR THE
NORTHWEST CORNER OF LOT 2, BLOCK K, COVENTRY EAST, AN ADDITION TO THE CITY
OF FORT WORTH, TARRANT COUNTY, TEXAS, ACCORDING TO THE PLAT RECORDED IN
COUNTY CLERK'S INSTRUMENT NO. D21.7048964, OPRTCT, BEING ON THE EAST RIGHT-OF-
WAY LINE OF HEMPHILL STREET, A 120-FOOT PUBLIC RIGHT-OF-WAY, FROM WHICH A 5/8
INCH CAPPED IRON ROD FOUND STAMPED "JACOBS" FOR THE WESTERNMOST
SOUTHWEST CORNER OF LOT L BLOCK K, OF SAID COVENTRY EAST, BEARS SOUTH 05
DEGREES 43 MINUTES 27 SECONDS EAST, A DISTANCE OF 97.53 FEET, SAID BEGINNING
POINT HAVING A NAD83 - TEXAS COORDINATE SYSTEM POSITION (GRID) OF N:6898131.9
E:2329006.8 (BEARINGS & COORDINATE VALUES SHOWN HEREON ARE IN REFERENCE TO
THE NAD83 - TEXAS COORDINATE SYSTEM - NORTH CENTRAL ZONE, 4202, BASED ON
OBSERVATIONS UTILIZING THE LEICA GPS REFERENCE NETWORK. THE AVERAGE
COMBINED SCALE FACTOR IS 1.00012427812, BASE POINT 0,0,0);
THENCE NORTH 05 DEGREES 45 MINUTES 37 SECONDS WEST, ALONG SAID EAST RIGHT-
OF-WAY LINE, A DISTANCE OF 450.98 FEET, TO A 5/8 INCH CAPPED IRON ROD FOUND
STAMPED "JACOBS", FROM WHICH A 1/2 INCH IRON ROD FOUND FOR THE NORTHEAST
CORNER OF LOT 20, BLOCK F, COVENTRY ADDITION, AN ADDITION TO THE CITY OF
FORT WORTH, TARRANT COUNTY, TEXAS, ACCORDING TO THE PLAT RECORDED IN
CABINET A, SLIDE 6991, PLAT RECORDS, TARRANT COUNTY, TEXAS (PRTCT), BEARS
SOUTH 84 DEGREES 15 MINUTES 41 SECONDS WEST, A DISTANCE OF 119.83 FEET;
THENCE NORTH 04 DEGREES 35 MINUTES 42 SECONDS WEST, CONTINUING ALONG SAID
EAST RIGHT-OF-WAY LINE, A DISTANCE OF 152.48 FEET,TO A 5/8 INCH CAPPED IRON ROD
SET STAMPED "MYCOSKIE MCINNIS", BEING THE SOUTHWEST CORNER OF A CALLED
3.713 ACRE TRACT OF LAND AS DESCRIBED IN THE SPECIAL WARRANTY DEED TO
SMITH'S SOUTHEAST INVESTMENTS, L.P., FILED FOR RECORD IN COUNTY CLERK'S
INSTRUMENT NO. D206314281, OPRI'CT, FROM WHICH A 5/8 INCH CAPPED IRON ROD
FOUND STAMPED "CARTER BURGESS" FOR THE NORTHWEST CORNER OF SAID CALLED
3.713 ACRE TRACT OF LAND BEARS NORTH 04 DEGREES 35 MINUTES 42 SECONDS WEST,
A DISTANCE OF 503.94 FEET;
THENCE EASTERLY, DEPARTING SAID EAST RIGHT-OF-WAY LINE, AND ALONG THE
SOUTH LINE OF SAID CALLED 3.713 ACRE TRACT OF LAND,THE FOLLOWING CALLS:
NORTH 84 DEGREES 14 MINUTES 44 SECONDS EAST, A DISTANCE OF 109.17 FEET,
TO A 5/8 INCH CAPPED IRON ROD SET STAMPED "MYCOSKIE MCINNIS":
NORTH 05 DEGREES 45 MINUTES 16 SECONDS WEST, A DISTANCE OF 35.18 FEET,
TO A 5/8 INCH CAPPED IRON ROD SET STAMPED "MYCOSKIE MCINNIS";
Page 1 of 3
NORTH 84 DEGREES 14 MINUTES 44 SECONDS EAST, A DISTANCE OF 225.89 FEET,
TO A 5/8 INCH CAPPED IRON ROD SET STAMPED "MYCOSKIE MCINNIS";
NORTH 00 DEGREES 40 MINUTES 51 SECONDS WEST, A DISTANCE OF 435.88 FEET,
TO A 5/8 INCH CAPPED IRON ROD SET STAMPED "MYCOSKIF, MCINNIS", BEING ON
THE SOUTH LINE OF A CALLED 12.98 ACRE TRACT OF LAND AS DESCRIBED IN THE
WARRANTY DEED TO TEXAS ELECTRIC SERVICE COMPANY, FILED FOR RECORD
IN VOLUME 6175, PAGE 135,DEED RECORDS,TARRANT COUNTY,TEXAS(DRTCT);
THENCE NORTH 89 DEGREES 39 MINUTES 57 SECONDS EAST, DEPARTING SAID SOUTH
LINE, AND ALONG THE SOUTH LINE OF SAID CALLED 12.98 ACRE TRACT OF LAND, A
DISTANCE OF 344.77 FEET,TO A 5/8 INCH IRON ROD FOUND.
THENCE SOUTH 00 DEGREES 35 MINUTES 27 SECONDS EAST, CONTINUING ALONG SAID
SOUTH LINE,A DISTANCE OF 10.12 FEET,TO A 5/8 INCH IRON ROD FOUND;
THENCE NORTH 89 DEGREES 42 MINUTES 53 SECONDS FAST, CONTINUING ALONG SAID
SOUTH LINE, A DISTANCE OF 51.39 FEET,TO A 5/8 INCH IRON ROD FOUND, BEING ON THE
WEST LINE OF THE UNION PACIFIC RAILROAD COMPANY (FORMERLY M.K.&T.
RAILROAD),A 100-FOOT PRIVATE RIGHT-OF-WAY;
THENCE SOUTH 08 DEGREES 44 MINUTES 15 SECONDS EAST, DEPARTING SAID SOUTH
LINE, AND ALONG SAID WEST RIGHT-OF-WAS,' LINE, A DISTANCE OF 1016.24 FEET, TO A
5/8 INCH CAPPED IRON ROD FOUND STAMPED "JACOBS", BEING THE NORTHEAST
ADDITION CORNER OF SAID COVENTRY EAST(D217048964);
THENCE WESTERLY, DEPARTING SAID WEST RIGHT-OF-WAY LINE, AND ALONG THE
NORTH LINE OF SAID COVENTRY EAST(D217048964),THE FOLLOWING CALLS:
SOUTH 81 DEGREES 17 MINUTES 42 SECONDS WEST,AT A DISTANCE OF 70.09 FEET,
PASSING A 5/8 INCH CAPPED IRON ROD FOUND STAMPED "JACOBS" FOR THE
NORTHEAST CORNER OF LOT 11, BLOCK L, AT A DISTANCE OF 125.11 FEET,
PASSING A 5/8 INCH CAPPED IRON ROD FOUND STAMPED "JACOBS" FOR THE
NORTHEAST CORNER OF LOT 10, BLOCK L, AND CONTINUING IN ALL A TOTAL
DISTANCE OF 175.09 FEET, TO A 5/8 INCH CAPPED IRON ROD SET STAMPED
"MYCOSKIE MCINNIS", BEING THE NORTHWEST CORNER OF SAID LOT 10, BLOCK
L;
SOUTH 84 DEGREES 54 MINUTES 32 SECONDS WEST,A DISTANCE OF 54,84 FEET,TO
A 5/8 INCH CAPPED IRON ROD FOUND STAMPED "JACOBS", BEING THE
NORTHEAST CORNER OF LOT 8, BLOCK L;
Page 2 of 3
SOUTH 84 DEGREES 14 MINUTES 08 SECONDS WEST, AT A DISTANCE OF 100.03
FEET,PASSING A 5/8 INCH CAPPED IRON ROD FOUND STAMPED "JACOBS"FOR THE
NORTHEAST CORNER OF LOT 6, BLOCK .L, AT A DISTANCE OF 210.10 FEET,
PASSING A 5/8 INCH CAPPED IRON ROD FOUND STAMPED "JACOBS" FOR THE
NORTHEAST CORNER OF LOT 4, BLOCK L, AT A DISTANCE OF 433.50 FEET,
PASSING A 5/8 INCH CAPPED IRON ROD FOUND STAMPED "JACOBS" FOR THE
NORTHWEST CORNER OF LOT 1,BLOCK L, SAME BEING THE NORTHEAST CORNER
OF CASTLEFORD WAY, A 50-FOOT PUBLIC RIGHT-OF-WAY, AND CONTINUING IN
ALL A TOTAL DISTANCE OF 483.31 FEET,TO A 5/8 INCH CAPPED IRON ROD FOUND
STAMPED "JACOBS", BEING THE NORTHWEST CORNER OF SAID CASTLEFORD
WAY;
SOUTH 05 DEGREES 46 MINUTES 18 SECONDS EAST, A DISTANCE OF 1.90 FEET, TO
A 51184NICH CAPPED IRON ROD SET STAMPED "MYCOSKIE ivMCIIvNiS", FROM WHICH
A 5/8 INCH CAPPED IRON ROD FOUND STAMPED "JACOBS" FOR THE
EASTERNMOST SOUTHEAST CORNER OF LOT 1, BLOCK K, BEARS SOUTH 05
DEGREES 46 MINUTES 18 SECONDS WEST, A DISTANCE OF 97.56 FEET;
SOUTH 84 .DEGREES 14 MINUTES 29 SECONDS WEST, A DISTANCE OF 110.00 FEET,
TO THE POINT OF BEGINNING, AND CONTAINING 15.710 ACRES (684,313 SQUARE
FEET)OF LAND,MORE OR LESS.
Page 3 of 3
EXHIBIT B
Map of Property
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MAPSCO NO.
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COUNCIL DISTRICT 6
Transportation Impact Fee Credit Agreement-CA-19-010 Page 8 of 12
Coventry East Ph 3 Version 2/15/19
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EXHIBIT D
Transportation Improvements
Coventry East Ph 3
Credit Agreement . -
Right-ol--Way* 4w
Construction Accepted
*UgNe for CreditAgabut k >a
Transportation Impact Fees
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Elidble ImrrroyeoreMs limits --
Hemphill St From 13Dfeet north of
It (northbound lanes) 6rasenose St for 542 feet
�
to the north
SANDHURST
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EXHIBIT E
Credits Against Transportation Impact Fees
Capacity Provided by Hemphill St Improvements CPN 101342
Paving&Pavement Markings
400 Descriptim Unit Quantity 811011010 Unit Price
No. 011wift-
1 REMOVE ASPHALT PVMT SY 16 0 S 25.00 $
2 HYDILATED LIME TN 22S 26 $ 1SS.00 $ 4,030.00
3 6'LIME TREATME14T SY 11,491 0 S 3.OD
4 8'LIME TREATMENT SY 1,463 1463 $ 3.10 4,S3S30
S 2'ASPHALT PVMT TYPE D SY 316 316 $ 16.50 $ S,214.00
6 4"ASPHALT PVMT TYPE B SY 316 316 $ 33.00 $ 10 42&00
7 6'CONC PVMT SY 10,488 0 S 34.25
8 10"CONC PVMT SY 1,353 1,3S3 S 49.9S 67 S8235
9 4'CONC SIDEWALK SF 6,348 2,2S4 $ 4.95 $ 11,1S730
10 BARRIER FREE RAMP EA 8 0 $ 1800.00
11 4"SLD PVMT MARKING TAPE LF 270 270 $ 1.50 $ 405.00
12 RE.FL RAISED MARKER EA 2S 25 S 14,SO $ 362 50
13 REMOVE RAISED MARKER EA 60 60 $ 0.S0 30.00
14 FURNtSH,IINSTALL ALUM SIGN GROUND EA 11 0 $ SOD.00 $
MOUNT CITY
15 REMOVE AND REINSTALL SIGN PANEL AND EA 1 1 $ 750.00 S 75Q00
POST
16 TYPE III BARRIO" EA 1 1 $ 1,500.OD $ 1,SOD.00
17 REMOVE BARRICADE EA 3 1 S00.00 $ 500.00
P&AftStd*"d 4S
Street Lights
No Dew Unit Quantity �t Unit Price Ov*Avallable
1 2'CONDT PVC SCH 80 LF 372 0 $ 9.09 $
2 RDWY ILLUM ASSEMBLY EA 12 0 $ 1818.59 $
3 LED LiGHT1NG FIXTURE EA 18 6 431.43 S 2 588.58
4 RDWY ILLUM FOUNDATION EA 12 0 $ 1,274.00 $
5 3-g1000PPER CONDUIT LF 372 0 $ 3.75 $
6 REMOVE WOW HPS HEAD EA 3 3 156.00 $ 468.00
Street uglift Subtotal $ 3,0S6.SI
Paving Subtotal $ 106,494.45
Street Mts Subtotal 3 0%.SB
Other Eligible items
jDftonpooft
Lrt irleervn ,SUry 1n and F4dR@ndI Teq ng of Pauan 5 21,25B.B�J
otal Value of Capacity Provided $ 130,849.92
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EXHIBIT F
Allocation of Credits
Credits are to be allocated on a first-come, first-served basis and fully offset the transportation
impact fees for any building permit within the plat boundaries shown below.
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