HomeMy WebLinkAboutContract 53216 C11Y$FCRffARY --
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6 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 ALL STORAGE BLUE MOUND,LTD.,a Texas limited
partnership 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 13.2016 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 C; and
WHEREAS, the City has determined the maximum transportation impact fees to
be assessed against new development within service area C to be$1,144
(vehicle-miles of demand); and OFFICIAL,RECORD
CITY SECRETARY
FT. WORTH, TX
Transportation Impact Fee Credit Agreement-CA-18-009 Page 1 of 11
Blue Mound Addition Updated 2/15/19
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 final plat approval:
AS Blue Mound Addition, FS-16-258,recorded in the Tarrant County plat records
on January 4, 2019, recorded as Document D219002707;
WHEREAS, the Owner has dedicated 9,954.10 square feet of right-of-way for
eligible arterial E. Bonds Ranch Road on FS-16-258;
WHEREAS, the Owner has received approval for construction plans, executed
Community Facilities Agreement 2018-037 (CSC No. 51677) and obtained final
acceptance by the City for Blue Mound Addition,City Project No.100980 on July 11,2019.
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 value of the credits for each
transportation improvement,expressed in current dollars, as set forth in Exhibit"E".
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
Transportation Impact Fee Credit Agreement-CA-18-009 Page 2 of 11
Blue Mound Addition Updated 2/15/19
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 initial 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.
Transportation Impact Fee Credit Agreement-CA-18-009 Page 3 of 11
Blue Mound Addition Updated 2/15/19
t-Ift in full in he bed"f this Agfeefttept.
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
All Storage Blue Mound, Ltd.,
a Texas limited partnership
By: or ge Blue Mound GP,Inc.
Dana Burgh ff Its e r 1 artner
Interim Assistant City Manager
Date: —k 7-
Mar .VIDowell
Recommended By: Manager
0
Randle Harw d
Director,Pl 'ng and Development
Approved as to Form and Legality: City Contract Compliance Manager:
By signing, I acknowledge that I am the
person responsible for the monitoring
and administration of this contract,
Douglas Black including ensuring all performance and
Assistant City Attorney reporting requirements.
M&C: None required
Form 1295: None required
ATTEST: (�, J lie Westerman
raduate Engineer
Mar J. Ka � • �� rUFFOCIAL RECORD
City Secretary '•• �� ECRETARY
T. WORTH,TX
Transportation Impact Fee Credit Agreement-CA-18-009 Page 4 of 11
Blue Mound Addition Updated 2/15/19
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-18-009 Page 5 of 11
Blue Mound Addition Updated 2/15/19
EXHIBIT A
Description of Property
Lots 1 & 2,Block 1 of Blue Mound Addition, an addition to the City of Fort Worth, Tarrant
County, recorded as Document No. D219002707, Tarrant Count Real Property Records.
Transportation Impact Fee Credit Agreement-CA-18-009 Page 6 of 11
Blue Mound Addition Updated 2/15/19
EXHIBIT B
Map of Property
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Transportation Impact Fee Credit Agreement-CA-18-009 Page 7 of 11
Blue Mound Addition Updated 2/15/19
EXHIBIT C
Development Plan
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Transportation Impact Fee Credit Agreement-CA-18-009 Page 8 of I 1
Blue Mound Addition Updated 2/15/19
EXHIBIT D
Transportation Improvements
AS Blue Moutid f
Credit Agreement
Dedicated Right-of-Way' BONDS RANCH -
N Recorded �-
'EligVe for Credit Against =.r
` Transportation Impact Fees �
FORT WORTH
14
li.4
�d
Llig,ble Improyenients Limits
I
L Bands Ranch Rd �.rorr approxim ate Iy 765'west
of Blue Mqund Rd to Biue �'
ROW medication Mound Rd ~ -
.N, ,
Transportation Impact Fee Credit Agreement-CA-18-009 Page 9 of I 1
Blue Mound Addition Updated 2/15/19
EXHIBIT E
Credits Against Transportation Impact Fees
.2017 Transpostation tints Plan Proms C 5
Estimated Construction Costs from 2017 $2,r902A D-0D
1ranspottvVon i mprowernents Plan
Valae of Total Project 1t4M-of-VftV( of 96,=.00
[orr&kutrun cam)
Tel PFoJSCt LenvO XN 2.770
Arteiiat Cass-Section,,Y dkh 4LF) 130
tional ROW needed for Rixondab {SF} 9
To#d Frgje ct Rim-{af-'aAW:V 159 3 e,=
dui h1± Matzo NT SE Cam.1OPt a S
TAD Vaiue as of 0-310041i�
,Account D414OSS 0734 5'34 Dar i oar
Tr"Area Wg 332,246 420
Wised Value .176.00 $ 240-0t0 � ..
Jt!a't..L-r Pet SqU-Zre foot
Bg;i-A-.R.am1; l
Total area of ROW to he ded aked 9,954 sq fit
value e per SF $"a
Total CTedtt Avaflable3S, =
Transportation Impact Fee Credit Agreement-CA-18-009 Page 10 of 11
Blue Mound Addition Updated 2/15/19
EXHIBIT F
Allocation of Credits
Credits shall be allocated first to Lot 2, Block 1, Blue Mound Addition.
Transportation Impact Fee Credit Agreement-CA-18-009 Page 11 of 11
Blue Mound Addition Updated 2/15/19