HomeMy WebLinkAboutContract 39318TY
N R CTTARP
NO, 3aal
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 home rule
municipal corporation situated in Tarrant, Denton, Parker, Johnson, and Wise Counties,
Texas, and One SR, L.P., a Texas limited partnership (the "Owner") (the City and the
Owner a "Party", and collectively, the "Parties"),
RECITALS
WHEREAS, the City is a home rule municipal corporation duly organized and
validly existing under the laws and statutes of the State of Texas and is located within
Tarrant, Denton, Parker, Johnson, and Wise Counties, Texas, and
WHEREAS, the Owner is the owner of approximately 58.340 acres Denton and
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 lay -out 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
Tex. Loc. Gov't 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 areas) in which the new development is located; and
WHEREAS, the Property is located within service area B 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 145 provides for credits against impact
fees for dedication or construction of transportation improvements shown on the adopted
transportation improvements plan; and
1-16 CREDIT AGREEMENT
lftITy SE+�RETi�RI�
FT. WORTH, Tx
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 has submitted a final plat to the City for approval, subject to
dedication and construction of the transportation improvements shown on the
Development Plan; 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 district
no. B to be $2,014 per service unit; and
WHEREAS, Owner has filed and recorded the following final plat:
Phase 3-3A (FP07-014) Filed on Slide D209069795 on 3/13/2009
WHEREAS, Owner has received approval for construction plans, executed
Community Facility Agreements, constructed roadway improvements, obtained City
acceptance of the improvements and dedicated rights -of -way for the following:
Phase 3-3A, DOE 5747
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 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
1-16 CREDIT AGREEMENT
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 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)
1-16 CREDIT AGREEMENT
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
follows:
Amendment. This Agreement shall not be modified or amended except as
(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.
1-16 CREDIT AGREEMENT
IN WITNESS WHEREOF, the undersigned parties have executed this Agreement as
day of
Date:
Approved as o Form &Legality:
Amy J Ramg6y
Assistant City Attorney
ATTEST:
Marty Hen ix
City Secretary
1-16 CREDIT AGREEMENT
2009.
CITY OF FORT WORTH, TEXAS
I:
Fernando Costa
Assistant City Manager
Recommended By:
us n Alanis
Director, Planning and Development
(DEVELOPER)
By:
O��1C1AL R��O��
�1T1� S�CRET��i �
T. WORTH, TX
EXHIBIT LIST
Description of the Property
"B" Map of Property
"C" Concept Plan Map
"D" Transportation Improvements
"E" Credits Against Transportation Impact Fees
"F" Allocation of Credits
1-16 CREDIT AGREEMENT
1�
l�butt
This legal description is for contract purposes only.
James F. Kasson RPLS no. 4500
Carter & Burgess, Inc.
February 25, 2008
LEGAL DESCRIPTION
BEING a tract of land situated in the Matthew Ashton Survey, Abstract Number 8, Tarrant
County, Texas, and Abstract Number 1, Denton County, Texas and being a portion of the tract of
land conveyed by deed to One SR, L. P., in Volume 15566, Page 280, Deed Records, Tarrant
County, Texas and being more particularly described by metes and bounds as follows:
BEGINNING at a 5/8 inch iron rod with cap stamped "Carter &Burgess" found in the
northwest corner of that tract of land described by deed to Coflet Realty Management, Inc. and
recorded in County Clerks' Filing number D205381642, County Records, Tarrant County Texas,
said point being in the west line of said One SR, L.P. tract;
THENCE N 00°OS'25"E, 451.01 feet;
THENCE S 89°54'35"E, 286.03 feet;
THENCE N 00°OS'25"E, 34.40 feet;
THENCE S 88°25'22"E, 315.73 feet;
THENCE N O1°34'38"E, 125.00 feet;
THENCE N 88°25'22"W, 7.28 feet;
THENCE N O1 034'38"E, 175.00 feet;
THENCE S 8802512211E, 187.29 feet;
THENCE N 82°13'44"E, 45.30 feet;
THENCE N 6504315711E, 72.97 feet;
THENCE N 63015'44"E, 536.39 feet;
THENCE S 86031'06"E, 80.66 feet;
THENCE S 70054'4011E, 405.00 feet;
THENCE S 19005'20"W, 110.86 feet;
C&B Job No. 014563.010.001.0452
Mapsco September 18, 2009
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Atb}-
THENCE S 68°1953E, 50.05 feet;
THENCE N 89°51S6E, 84.43 feet;
THENCE S 02° 16' 15 "E, 178.35 feet;
THENCE S 87°50'17"W5 11.65 feet;
THENCE S 02° 16' 15 "E, 124.87 feet;
THENCE S 87°43'45 "W, 142.97 feet;
THENCE S 38°54'17"W, 60.87 feet;
THENCE S 06°OS'42"E, 14.14 feet;
THENCE S 51 °OS'43 "E, 245.64 feet;
THENCE S 38°54'18"W, 50.00 feet;
THENCE with said non -tangent curve to the left, an arc distance of 50.93 feet, through a central
angle of 19027'14", having a radius of 150.00 feet, the long chord of which bears S 60°49'19"E,
50.69 feet;
THENCE S 24°35'47"W, 128.14 feet;
THENCE S 37°46'24"W, 192.88 feet;
THENCE S 20°25'S8"W, 284.65 feet;
THENCE S 15007139"W, 213.47 feet;
THENCE S 16°46'S7"W, 212.87 feet;
THENCE with said non -tangent curve to the left, an arc distance of 148.07 feet, through a
central angle of 06°42'24", having a radius of 1265.00 feet, the long chord of which bears N
86034135"W5 147.99 feet;
THENCE N 89055'47"W, 228.78 feet;
THENCE with said curve to the right, an arc distance of 317.87 feet, through a central angle of
16°02'48", having a radius of 1135.00 feet, the long chord of which bears N 81°54'22"W, 316.84
feet;
C&B Job No. 014563.010.001.0452
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THENCE S 14°1238W5 130.07 feet;
THENCE with said non -tangent curve to the right, an arc distance of 1230.26 feet, through a
central angle of 55°43'20", having a radius of 1265.00 feet, the long chord of which bears N
46013104"W9 1182.35 feet to the Point of Beginning and containing 2,541,289 square feet or
58.340 acres of land more or less.
Preliminary, this document shall not be recorded for any purpose.
C&B Job No. 014563.010.001.0452
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MORRIS DIDO NEWARK
EAGLE
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A
SENDERA RANCH
PHASE 3-3A
HAS
AVONDALE HASLET
AVONDALE HASLET
IANCE
VICINITY MAP
FORT WORTH
Exhibit D "
I:
Sendera Ranch Phase 3, Section 3A
_d
Credit Agreement itfir
DEVELOPER BUILT ARTERIALS
Accepted* _ ,:,, r`
N
0 200 400 Feet
s
*Eligible for credit from transportation impact fee
6
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S j3"-fir N'LL
FINAL PLAT
DOE NUMBER
ASSOCIATED IMPROVEMENTS
LIMITS
Built 4 lane divided from Willow Springs Road
FP07-014
5747
SENDERA RANCH BLVD
to I000'NW(approximately atEnchanted
Sky); built 2 lanes from 1000' NW of Willow
Springs to Suncatcher
FORT WORTH
EXHIBIT E
Credits Against Transportation Impact Fees
Sendera Ranch, Phase 3 Sec 3A
NET CREDIT BALANCE SENDERA PH3 SEC 3A
TOTAL IMPACT FEES CALCULATED
TOTAL CREDITS CALCULATED
$ 1,066,432.40
FORT WORTH
NET CREDIT OVERVIEW 06/17/2009
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EXHIBIT E
Credits Against Transportation Impact Fees
Sendera Ranch, Phase 3 Sec 3A
PB09-02795
1608 Enchanted Sky Ln
Sendera Ranch
PAID
pb09-02797
1605 Enchanted Sky Ln
Sendera Ranch
PAID
pb09-02796
1616 Enchanted Sky Ln
Sendera Ranch
PAID
pb09-02962
14428 Storyteller Ln
Sendera Ranch
PAID
pb09-02964
1624 Enchanted Sky Ln
Sendera Ranch
PAID
pb09-03080
1641 Suncatcher Way
Sendera Ranch
PAID
pb09-03079
14517 Storyteller Ln
Sendera Ranch
PAID
pb09-03081
14513 Storyteller Ln
Sendera Ranch
PAID
PB09-03516
1644 Enchanted Sky
Sendera Ranch
PAID
PB09-03514
1637 Suncatcher Way
Sendera Ranch
PAID
PB09-03517
14509 Storyteller Ln
Sendera Ranch
PAID
BUILDING_PERMITS 06/17/2009
EXHIBIT E
Credits Against Transportation Impact Fees
Sendera Ranch, Phase 3 Sec 3A
Quantity Unit Type Ws Total
Grading and Mass Excavation
Grading and Mass Excavation 27,179,00 CY
Clear strip & grub 9.79 AC
Street Lights
Mid -block arterial median (from CFA) 8.00 EA
Engineering
SENDERA RANCH CONSTRUCTION PLANS
Geotech
Geotech/testing (5 borings)
Other Eligible Costs
Check Dam 3.00 EA
Net Protection 4.00 EA
Silt Fence 21500,00 LF
ROW @ 10% Construction Costs
$ 2.25 $ 61,152.75
$ 47.40 $ 464.05
25,600.00
$ 15,650.00
$ 2,200.00
$1,200.00 $ 3,600.00
$ 250.00 $ 1,000.00
$ 1.35 $ 3,375.00
$ 86,671.87
Total Other Developer Eligible Credits $199,713.fi7
OTHER CREDITS 06/17/2009
EXHIBIT E
Credits Against Transportation Impact Fees
Sendera Ranch, Phase 3 Sec 3A
DOE 5747
Paving Quantity Unit Type Unit Cost Total
8" LIME STABILIZED SUBGRADE 13690 SY $ 1,61 $ 223040,90
9.5" RC STREET PVMT W/ STANDARD CURBS 12820 SY $ 27.19 $ 348,575,80
HYDRATED LIME 274 TN $ 106,00 $ 293044000
STANDARD END OF ROAD BARRICAIDE 1 EA $ 11870,00 $ 11870,00
STANDARD 4' SIDEWALKS 13350 SF $ 2,97 $ 39,649,50
CENTERLINE MARKERS Y4 191 LF $ 5,00 $ 955,00
CENTERLINE MARKERS Y-4 506 LF $ 19000 $ 91614,00
LANE MARKERS TYPE W4 1481 LF $ 1,30 $ 11925,30
REMOVE LANE CLOSURE STRIPING 213 SY $ 9,00 $ 11917,00
DETAIL C CHANNEL MARKERS 1 LS $ 21118,00 $ 23118000
CONSTRUCT CONCRETE CURB & GUTTER 120 LF $ 15,00 $ 11800,00
REMOVE EXST CONCRETE TRANSITION 16350 SF $ 1,10 $ 17,985.00
TRAFFIC CONTROL PLAN 1 EA $ 11727,00 $ 11727,00
$ 479,221.50
Storm Drain Quantity Unit Type Unit Cost Total
ROCK RUBBLE RIP RAP (24" DEPTH) 50 SY $ 45,00 $ 21250,00
6X9 MBC COMPLETE IN PLACE 153 LF $ 1,600.00 $244,800,00
24" RCP W/ TRENCH EXCAV & BACKFILL 207A LF $ 36,52 $ 71574925
STANDARD 10" RECESSED CURB INLET 4 EA $ 13700,00 $ 61800,00
PEDESTRIAN HANDRAIL 152,55 LF $ 152,55 $ 23,271,50
ROCK RUBBLE RIP RAP (18" DEPTH) 2569 SY $ 40400 $ 102,760,00
TRENCH SAFETY 207A LF $ 0,20 $ 41,48
$ 3879497.23
DOE5747 06/17/2009
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