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HomeMy WebLinkAboutContract 39882CITY SECRETARY �� CONTRACT NO. 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 between THE CITY OF FORT WORTH, TEXAS (the "City"), a home rule municipal corporation situated in Tarrant, Denton, Parker, Johnson, and Wise Counties, Texas, and LNR CPI PRESIDIO APARTMENTS, LLC, LNR CPI PRESIDIO LAND, LLC, and LNR CPI PRESIDIO RETAIL, LLC, each a Texas limited liability company (collectively, the "Owner") (the City and the Owner being individually referred to as a "Party", and collectively as 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, Owner is the owner of approximately 283.707 acres in Tarrant County, Texas, as described by metes and bounds in Exhibit "A" (the "Property") located within the corporate boundaries of the City. WHEREAS, Lowe's Home Centers, Inc. is the owner of approximately 15.223 acres, described as Lot 8, Block A, The Presidio Addition, Fort Worth, Tarrant County, Texas, which property is adjacent to the Property and was purchased from LNR CPI Presidio Retail, LLC (the "Lowe's Tract"); and WHEREAS, the Property and the Lowe's Tract constitute all land within The Presidio Addition, as shown on PP-007433; and WHEREAS, a map of the Property and the Lowe's Tract showing their location is attached hereto as Exhibit "B"; and WHEREAS, Owner desires to proceed with development of the Property as described or illustrated on the Development Plan Map, attached hereto as Exhibit which Development Plan Map 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 Tex. Loc. Gov't Code, Chapter 395 ("Chapter 395") ,Ordinance No. 18083- 05-2008, 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 � OFFiClAl� RECORD CITY SECRETAAn I FT. WORTH, TX 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 Q and WHEREAS, based on the anticipated traffic impacts from development of the Property, 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, Ordinance No. 18083-05-2008, Section 1-15, provides for credits against impact fees for dedication or construction of transportation improvements shown on the adopted transportation improvements plan; and WHEREAS, such credits are for dedication or construction of transportation improvements and are not an economic development incentive; and WHEREAS, Harmon Road and North Tarrant Parkway, shown on the Development Plan Map attached as Exhibit "C" and described in Exhibit "D" (each, a "Transportation Improvement") are transportation improvements identified within the City's adopted transportation improvements plan; and WHEREAS, North Tarrant Parkway shown on Exhibit "C" and described in Exhibit "D" as "Accepted" has been constructed as a project of Tax Increment Financing District 7 (North Tarrant Parkway) pursuant to the TIF Agreement and approved and accepted by the City pursuant to that certain Community Facilities Agreement between City of Fort Worth, Texas and Presidio Vista I, Ltd. dated August 21, 2006 (City Secretary Contract No. 33886) (the "North Tarrant Parkway CFA"); and WHEREAS, final plats 7UP-007-091 and FP-008-045 through F3-008-050 for the Property have been approved by the City; and WHEREAS, FP-008-064 consisting of approximately 4.717 acres of right-of-way for approximately 2,600 linear feet of Harmon Road along the western boundary of the Property (the "Harmon Road Right -of -Way"), has been submitted by Owner to the City for approval, subject to execution by Owner of one or more related Community Facilities Agreements (each, a "CFA") for construction of approximately 2,000 linear feet of Harmon Road, as shown on Exhibit "C" and described in Exhibit "D" as "Anticipated"; and WHEREAS, approximately 600 linear feet of Harmon Road extending south from the future intersection of Sonoma Creek Lane, as reflected in Exhibit "D", will consist of a six -lane divided road to be constructed by the Texas Department of Transportation or other governmental entity; and WHEREAS, approximately 2,000 linear feet of Harmon Road extending from the northern boundary of the Property south to the future intersection of Sonoma Creek 2 Lane, as reflected in Exhibit '"D", may be constructed pursuant to a CFA as four or six lanes, at Owner's option, and may be constructed as a project of Tax Increment Financing District 7 in the event the board of directors of such district, in the board's discretion, approves a Tax Increment Financing Development Agreement for such project; and WHEREAS, Owner will be entitled to credit against transportation impact fees for the value of the Harmon Road Right -of -Way upon dedication of such right-of-way; and WHEREAS, Owner will be entitled to credit against transportation impact fees for the costs of road construction when construction of the Transportation Improvements has been guaranteed through an executed CFA or approved and accepted by the City in accordance with Ordinance No. 18083-05-2008; and WHEREAS, for any portion of Harmon Road shown on Exhibit "'D" as "Anticipated" that is constructed as a project of Tax Increment Financing District 7, the City's share of such costs shall be eligible for reimbursement by the TIF and credit against transportation impact fees will be awarded for the portion of costs not eligible for reimbursement by the TIF in accordance with this Agreement; 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 C to be $640.00 per service unit; and 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. Development Plan Map. Owner may amend the Development Plan Map from time to time, provided that such amendments are consistent with applicable zoning, subdivision and other development regulations. 3. Transportation Improvements. Upon dedication of right-of-way and/or construction, the Transportation Improvements shown on Exhibit "D" attached hereto and incorporated herein by reference shall be eligible for credit against transportation impact fees. Transportation Improvements which have been dedicated or constructed on the Property and accepted by the City prior to execution of this Agreement shall be identified in Exhibit "D" as "Accepted". Transportation Improvements that may be dedicated or constructed on the Property at some future date and that are eligible for 0 Impact Fee Credits upon such dedication or construction shall be identified in Exhibit "D" as "Anticipated". 4. Credits, The Parties agree that the value of the credits for each Transportation Improvement shown on Exhibit D as "Accepted", expressed in current dollars, shall be as set forth in Exhibit "E" as the "Net Credit Balance" (the "Impact Fee Credits"). The Parties agree that credits for an eligible Transportation Improvement to be dedicated and/ or constructed in the future identified in Exhibit "D" as "Anticipated" shall not be deemed to have been created until the right-of-way has been dedicated and/or construction of the Transportation Improvement has been guaranteed through an executed CFA or other security or approved and accepted by the City, at which time Exhibit "E" shall be amended to reflect the new Impact Fee Credits. Upon dedication of approximately 4.7 acres of right-of-way for Harmon Road, as shown on Exhibit "D", Owner shall be entitled to Impact Fee Credits of $122,000.00 per acre for such dedication, and Exhibit "E" shall be amended accordingly. 5. Phasing. The Parties acknowledge that, where it is anticipated that the Property shall be developed in phases, the anticipated construction of Transportation Improvements by phase shall be as described in Exhibit "D", which is attached hereto and incorporated herein by reference. 6. Allocation of Credits. At the time the City issues building permits for any portion of the Property or the Lowe's Tract, Impact Fee Credits shall be offset against impact fees otherwise due and payable for the Property until such credits are fully utilized. The allocation of the Impact Fee Credits shall be as shown on Exhibit "F", which is attached hereto and incorporated herein by reference, as may be amended by Owner from time to time. (a) The Impact Fee Credits shall be allocated as follows, at Owner's election: (i) Option A: Owner may allocate the credits to one or more final platted lots or by phases; or (ii) Option B: Owner may allocate the credits to a pool, to be credited on a "first -come, first -served basis" as building permits are issued. (b) By execution of this Agreement, Owner has elected Option B as the initial method for allocating the Impact Fee Credits, as reflected in Exhibit "F". If the Property is replatted, Owner may seek to amend Exhibit "F" by delivering an amended Exhibit "F" to the City's Director of Planning and Development. (c) Exhibit "E" and "Exhibit F" shall be amended to reflect the creation of additional Impact Fee Credits and the allocation of such credits, with the allocation to be determined by the party dedicating the right-of-way or constructing the Transportation Improvement. 0 7. Impact Fee Discount, If Owner elects to construct six (6) lanes of approximately 2,000 linear feet of Harmon Road along the western boundary of the Property as shown on Exhibit "D", in accordance with Section 1.14(D)(1) of Ordinance No. 18083-05-2008, impact fees collected thereafter will be reduced by 15% pursuant to such section. Such discount will not be retroactively applied to any impact fees collected in connection with such Property prior to entitlement to the discount. 8. ProportionalitX. Owner agrees that dedication and construction of improvements to serve the development shown on the Development Plan Map, 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. 9. Term and Effective Date. The initial term of this Agreement shall be ten (10) years from its Effective Date, in accordance with Ordinance No. 18083-05-2008, which shall be the date on which the last party executes the Agreement, as may be extended by the Parties on mutually agreeable terms. 10. Assi._grunent. Owner shall have the right to assign this Agreement to any person or entity ("Owner's Assignee") provided: (a) Owner obtains a written verification of the amount of remaining credit from the City; (b) the assignment is in writing executed by the Owner and its assignee; (c) 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; and (d) Owner provides written notice of such assignment to the City's Director of Planning and Development. Upon assignment of this Agreement to Owner's Assignee, Owner shall have no further rights or obligations pursuant to this Agreement. Each Owner's Assignee shall become a Party to this Agreement upon the execution of such assignment and shall succeed to all rights and obligations of "Owner". 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. 11. Amendment. This Agreement shall not be modified or amended except as follows: (a) Except as otherwise provided herein, any amendment or modification to this Agreement or any Exhibit or schedule hereto shall be by a written amendment signed by the Parties. (b) Any revision, amendment, or modification to this Agreement, the Development Plan Map, or any Exhibit or schedule thereto, shall become effective on the date on which the last party executes the amendment. 5 12. 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. IN WITNESS WHEREOF, the undersigned parties have executed this Agreement as of the 4. day of (nQjl o ,l-- , 2010. CITY OF FORT WORTH: • 4 i0w/ • Fernando Costa Assistant City Manager Recommended By: Alanis, Director ng & Development Appro�d as to F Amy j �tam�se Assistant City Attest: Marty Hendri City Secretary Attorney OFFICIAL RECORD CITY SEGRETARY 6 � FT.1RlORThI, TX OWNER: LNR CPI PRESIDIO RETAIL, LLC, a Texas limited liability company By: LNR CPI A&D Holdings, LLC, a Delaware limited liability company Its: Member By: LNR Commercial Property Investment Fund Limited Partnership, a Delaware limited partnership Its: Member By: LNR CPI Fund, GP, LLC, a Delaware limited liability company Its: General Partner By: Print N Kenneth A. Kristofek Print title: Vice President LNR CPI PRESIDIO LAND, LLC, a Texas limited liability company By: LNR CPI A&D Holdings, LLC, a Delaware limited liability company Its: Member By: LNR Commercial Property Investment Fund Limited Partnership, a Delaware limited partnership Its: Member By: LNR CPI Fund, GP, LLC, a Delaware limited liability company Its: General Partner By: Print Name Kenneth A. Kristofek Print title: Vice President 7 LNR CPI PRESIDIO APARTMENTS, LLC, a Texas limited liability company By: LNR CPI A&D Holdings, LLC, a Delaware limited liability company Its: Member By: LNR Commercial Property Investment Fund Limited Partnership, a Delaware limited partnership Its: Member By: LNR CPI Fund, GP, LLC, a Delaware limited liability company Its: General Partner By: _ Print Name: Kenneth . Kristofek Print title: Vice President EXHIBIT LIST "A" Description of Property "B" Map of Property "C" Development Plan Map "D" Transportation Improvements Eligible for Impact Fee Credits "E" Impact Fee Credits "F" Allocation of Credits Document No.1377v5 9 Exhibit "A" Description of Property Being in the William McGowan Survey, Abstract No. 999 in the City of Fort Worth, Tarrant County, Texas, and being all of a 305.5 acre tract of land described in Special Warranty Deed to Heritage Inn Number LIX, Limited Partnership, as undivided 27.2% Interest, R.I. Heritage Inn of Beavercreek, Inc., as to an undivided 32.2% Interest, and R.I. Heritage Inn of West Springfield, L.L.C., as to an undivided 40.6% Interest, as recorded in the County Clerk's Document No. 206161202, of the Deed Records Tarrant County, Texas (hereinafter referred to as DRTCT, with the herein described tract of land being further described as held on the ground by metes and bounds as follows: BEGINNING at a 5/8-inch found iron rod in asphalt in the centerline of Harmon Road, variable width right-of-way, for the most westerly southwest corner of said 305.5, acre tract and being on the northeast right-of-way line of U.S. Highway 287 & 81, variable width right-of-way; THENCE North 00°16'52" West, leaving the northeast right-of-way line and along the west line of said 305.5 acre tract and along the centerline of Harmon Road, a distance of 2345.16 feet to a found PK Nail for the northwest corner; THENCE North 89°00'02" East, leaving the centerline of Harmon Road and along the north line of said 305.5 acre tract and with the south line of a tract of land described in a Deed to 90 North Fort Worth (hereinafter referred to as 90 North tract), recorded in County Clerk's Document No. 204307925 - DRTCT, a distance of 2846.76 feet to a 5/8- inch found iron rod with Carter & Burgess cap for southeast corner of the 90 North tract; THENCE South 60°35'39" East, continuing along the north line of the 305.5 acre tract and the south line of a tract of and described in Deed to Foley Legacy Land, LTD (hereinafter referred to as Foley tract) recorded in Volume 14340, Page 637 - DRTCT, a distance of 74.01 feet to a 5/84nch found iron rod with Carter & Burgess cap for corner; THENCE North 88°59'59" East, continuing along the north line of the 305.5 acre tract and the south line of the Foley tract, a distance of 1323.45 feet to a 5/8-inch found iron rod with Carter & Burgess cap for the northeast corner of said 305.5 acre tract and being in the west right-of-way line of Interstate Highway 35W, variable width right-of-way, recorded in Volume 3990, Page 319 and Volume 4047, Page 4 - DRTCT; THENCE along west line Highway 35W and the east line of the 305.5 acre tract the following courses and distances: EXHIBIT "A" -IMPACT FEE CREDIT AGREEMENT Page 1 South 00°3225 East, a distance of 129.95 feet to a found 3-inch Aluminum Disk stamped Texas Department of Transportation ROW (hereinafter referred to as "TXDOT Aluminum Disk") for corners South 89°36'25" West, a distance of 8.55 feet to a found TXDOT Aluminum Disk for corner; South 00°56'03" East, a distance of 1028.94 feet to a found TXDOT Aluminum Disk for corner; South 00°56'10" East, a distance of 143.57 feet to a found TXDOT Aluminum Disk; Along said curve to the right, through a central angle of 05°04'43", having a radius of 2834.79 feet, whose chord bears South 01°36'08" West, an distance 251.09 feet, an arc length of 251.27 feet to a found TXDOT Aluminum Disk; South 04°08'30" West, a distance of 616.23 feet to a 1/2-inch set iron rod with yellow plastic cap stamped HALFF ASSOC. INC (hereinafter referred to as "with cap") for corner; Along said curve to the right, through a central angle of 01°25'26", having a radius of 5759.58 feet, whose chord bears South 03°25' 52" West, an distance 143.13 feet, an arc length of 143.13 feet to a found TXDOT Aluminum Disk for corner; North 87°16'51" West, a distance of 35.00 feet to a found TXDOT Aluminum Disk; Along said curve to the left, through a central angle of 02°43'27", having a radius of 5794.58 feet, whose chord bears South 01°25'25" West, an distance 275.48 feet, an arc length of 275.51 feet to a found TXDOT Aluminum Disk; North 89°59'42" East, a distance of 35.00 feet a found TXDOT Aluminum Disk; Along said curve to the left, through a central angle of 00°32'15", having a radius of 5759.58 feet, whose chord bears South 00°16'26" East, an distance 54.03 feet, an arc length of 54.03 feet to a found TXDOT Aluminum Disk, South 0003233" East, a distance of 464.87 feet to a found TXDOT Aluminum Disk for corner at the intersection of the west line of Highway 35W and the north line of Future North Tarrant Parkway (a variable width public right-of-way, dedication to city not filed at present); EXHIBIT "A" -IMPACT FEE CREDIT AGREEMENT Page 2 THENCE leaving the west line of Highway 35W, and along the north right-of-way line of the North Tarrant Parkway the following courses and distance: South 89°2647 West, a distance of 120.00 feet to a 5/8-inch iron rod set for corner; North 00°32'34" West, a distance of 48.11 feet to a 5/8-inch iron rod set for corner; South 81°34'10" West, a distance of 508.84 feet to a 5/8-inch iron rod set for corner; South 89°27'05" West, a distance of 386.68 feet to a 5/8-inch iron rod set for corner; North 39°22'58" West, a distance of 36.66 feet to a 5/8-inch iron rod set for corner; South 89°14'23" West, a distance of 112.01 feet to a 5/8-inch iron rod set for corner; South 38°42'23" West, a distance of 36.35 feet to a 5/8-inch iron rod set for corner; South 89°27'06" West, a distance of 1006.01 feet to a 5/8-inch iron rod set for corner; North 45°32'54" West, a distance of 28.28 feet to a 5/8-inch iron rod set for corner; South 89°27'06" West, a distance of 118.00 feet to a 5/8-inch iron rod set for corner; South 31027125" West, a distance of 23.58 feet to a 5/8-inch iron rod set for corner; South 89°27'06" West, a distance of 448.80 feet to a 5/8-inch iron rod set for corner; South 84°26'10" West, a distance of 266.73 feet to a 5/8-inch iron rod set for corner; EXHIBIT "A" -IMPACT FEE CREDIT AGREEMENT Page 3 South 74°43'50" West, a distance of 277.30 feet to a 5/8-inch iron rod set for corner; South 89°1021 West, a distance of 275.65 feet to a 5/8-inch iron rod set for corner; THENCE North 43°3734 West, leaving the north line of North Tarrant Parkway and along the northeast right-of-way line of U.S. Highway 287, a distance of 257.81 feet to a 5/84nch iron rod set for corner; THENCE North 33°08'35" West, continuing along the south Line of the 305.5 acre tract and along the northeast line of Highway 287, a distance of 470.36 feet to a found TXDOT Aluminum Disk for corner; THENCE North 23°28'38" West, continuing along the south line of the 305.5 acre tract and along the northeast line of Highway 287, a distance of 323.34 feet to a found TXDOT Aluminum Disk; THENCE South 81°30'54" West, continuing along the south line of the 305.5 acre tract and along the northeast line of Highway 287, a distance of 26.57 feet to the POINT OF BEGINNING and containing 298.93 acres of land more or less. EXHIBIT "A" -IMPACT FEE CREDIT AGREEMENT Page 4 SAVE AND EXCEPT the Lowe's Tract, described as follows: EINU a tract ofiland situated in the 4)liMam AfIcCmon S rvQy, Abstract IN 9991 in tho City of 'Fort Wot1h, Tarratrt County, Texas, and being a portion of a called 95.74,55 acre tact of land conveyed to LNR Presidlo Retail, LL,C, as evidenced in a Speolial Wa inty Deed recc►rdcd in Courr..ty Clerk's Doctiment No. D207454225 of the ]iced Records of Tarrant County, Texas (D.R.T. C.T), and being snore partioularly described by metes and t3ounds as fellows. BICxTC at a 5f inch °`1' capped itn rid yet for the n�osi svtlely,outhwe�t carver of a called 44,219 acre tract of land convoyW to LNR Presidlo Apmlrnents, LLC, as ev' denccd in a. Special ViWerranty Deed recorded in County Clerk's Docanient No. 1)207381129, D.R.T.C.T, same being on the north line of said 95.7455 acre tract; TI�E��C:� East, alcra-x� the sot�tlr lure of said. 44;21 � acxe tract ar�d the north line of said 95.7455 acre trot, a distance of 620.54 Feet to a 5/8-inch "KIIA" capped iron rod set for a cornei4; T�> T�IC� �otttb, ciepattit� fbe south li��e cif said 44,2.19 acre tract anti. tl`rc rr©rth line o.f said 95,7455 acre trait, a distance of308.01 feet to a 5f8�lnch "K-�A*' capped iron xod set .or the point of eunrature of a curve to the lefts TI=�NCE �� a sautllerly c3irec;tzou, alorr,g the azc oI'saici atiz�je: tcl sire left, ttrratr�f� a cent�-at tin lc of 18°37'31 ", having a radius of 500A feet, a chord bearing of South 09018145" East, a chord distance of 161.82 feet and an aim length of I62.5 feet- to a 518-inch < HA" capped iron rocs set for the point of tangenoy of`sald cuirve; T1I�NCl Sou#h 18°3'7'31;' l:;rast, a disttn�ce of22�.2�i feet to a 5f$yinah "KT'l�." calZped Trott rod = Ivu the point of eu vature of a carve to the r%Llks EXHIBIT "A" -IMPACT FEE CREDIT AGREEMENT Page 5 'HEN CS in a southorly direonon, along e arc of said curve to the rlght> tlu'caatgka *ntral angle of 06051147", having a ra4lus of 485,00 feet, a chard bearlaip of South 501113811 East, a. chord distmme ttf 58M feet Find an aro length of 58409 feet to a 5/8= inch " IA 'capped iron rots set for the: end of sl d �,tu ,re5 P�U 1Ves1, a tl3:stance of 5 5.53 feet fio a capped iron god sck for a �rrrxe�= f T�E��� �cz�ztli �'�°15't��" last, a �3isfatrce of �Ct3, 3 S feet to a 5(8�lract� "1C�1,�." cappcci iron rod set for a corner; '1��CE'�'esi, a clr�tane�: of 1?t�.�l� £� t to a cor�rcr � a ci��l�r sa��c �cint; on tl�c retest line of aforementioned 95.7455 acre tract, same being on the east 11ne of a called 36,1066 were tract of land conveyed to LMR Pres%d o Land, LLG, as ev`tdenocd in a Spnial 1� am*aty Deed recorded in County Clerk's lac raiment No. D207454 24,, )D.R.T,C,, f X T'�EC� zn a, not°ih.�xl� �izeetla�, atc�t�g tlae west li��c �f :�a€i�i � 5,'��t55 acre tz�.ct ��;d tlac east fine of � d 36.1060 acre tract, the follomn �tc�rtli l�°S�'�$'' `S�esi, a dlst�a�ce of 3.44 feet to a n�cr itY a creek; l�ordi °4�,51,r �rre�t, a distance czf �8.f3� fit trr a wz�nce in a creek; �torif� % l o l �x 11'' '4�cst:, �t distance e►# �9.'�7 fit tc� a cof�ez' in a creep; hog°tlr G°��`Q8" �i'est, a di'stanc� t��` 1i,4� fit to a cczrner lt� a ct'eek; �;c�rkh 94955��4�t Vest, �, distance �i lCz,�#� feet � €t ctzrrrcr iit a crcc�; �tarkh 74-04Ct' l 4"clt�t�zcc csf i 4.74 fart io a c;orrzex iTz a creek; �ou:Eh 81 �'3�'(��" t, a diet=�c+� of 3"7,1'i fit to a cc3�zcx irx a crk; lc�rth 5�°�6'35" �4��t, a dist�:nre cif 8}.1� fit tc� a corne�� in, a cxcek, forth 030(}9155" West, a distawc� of 134,*12 feet to a eoxFzer in a cxeck5 7�crrtlz 11 °3513 t'' West. 11 lsta..n of M09 feet to a coiner in a creek; EXHIBIT "A" -IMPACT FEE CREDIT AGREEMENT Page 6 North 14 W4`�" cyst, a distance Qf 119.70 feet to a colter sty a creak; Noxth 15°22'15west, a distance of 9viv3 feet tv a cortler M a creek; orth 29%31' +;) Vest, a distutace 0f 46a fcct to a eorrter in " er k; l ortlz 40 VV' IV " +est, tt WOLMiWV of?G.O� Cat tc� a c rJrncr itt � creek; tC Ntart}t346' I 1 }' xzst, tleptirr the wrest Iin�: a£ sid'S.�T�€55 txcre trstet d the east lime of said 36,1066 acre tnad, adistme of308,79 foot to a 5/84rich "K14A" capped iron rod sot fox a corner$ 'i`FiT�� '[�3ort1Z, s: �3i�taetcc of 5G.3 feet to c �'��+i3' �� �iw�� end cont�tt'ttin� 154223 acres (663,104 squ feet) ofImid, more; or less, EXHIBIT "A" -IMPACT FEE CREDIT AGREEMENT Page 7 Exhibit "B" Map of Property [See attached] EXHIBIT "B" -IMPACT FEE CREDIT AGREEMENT Page 1 M yyU� max= d emAll f 1 yiyc, yy//,emu,.Alf .�. ,rz"r ,./" 6,;,,,•,• A. FI AIr aFAA _..s. IMF. Y� { AF FAA A: IAF� 4= `t� J}11 .. M1, s 'tom.. '�~•' J �"'�j i i I �I� r At L. � ' i* IIAli, LOA K aVOk! NOtrVH7H•- y 5 a Ar d a�$�y l�ujgS�sSEq" ti Exhibit "C" Development Plan Map [see attached] EXHIBIT "C" -IMPACT FEE CREDIT AGREEMENT Page 1 Q Fool M 7; m F'A C � Q k l ._ _ _.._, w .- -_..._ . . :_ , * - i °I y�~ @.f - _g IF.c sldi doI,IF LL' _. dd OFFL it r to s a` Exhibit "D" Transportation Improvements Eligible for Impact Fee Credits (See Attachment) EXHIBIT "D" -IMPACT FEE CREDIT AGREEMENT Page 1 N v bA N M z v '�" Exhibit "E" Impact Fee Credits (See Attachment) EXHIBIT "E" -IMPACT FEE CREDIT AGREEMENT Page 1 s i'RESIDi� +7ISTr'S EXHIBIT E Credits Against Transportation Bmpad Fees NET CRED[T BALANCE t�ET CRELIIT OtiIERV3E�iV i�181�01Q EXHIBIT "E" -IMPACT FEE CREDIT AGREEMENT Page 2 1694.011;1377v4 EXFIIBIT E Cred"As Against Transportation I'mpaci Fees EXHIBIT "E" -IMPACT FEE CREDIT AGREEMENT Page 3 1694.011;1377v4 EXHIBIT E Credits Against Transportation Impaei Fees BEVI=LQPMENT PRESIDIO A.PRRTLMENTS PH1 i3N1T� aCH�t 348 S 828,�83.00 SCH2 $ 427:344.OD EXHIBIT "E" -IMPACT FEE CREDIT AGREEMENT Page 4 1694.011;1377v4 ALLOWABLE CREDIT PAt+tNG S 59E.J32�J:71 STORM DRAINAGE STREET LIGHTS @ 5% S S 237,22SA0 7,38O,OJ TRAFFIC SIGNALS 5 98,6P.,9,57 REMOVAL RELOC & ADJ S 2Q,228.65 EROSION CONTROL S Wv71443 EN TESTPSURVEY @20% 5 208,575:2$ 561?726,46ALLUNED MAX TOTAL CREDIT IA5283 072 EXHIBIT "E" -IMPACT FEE CREDIT AGREEMENT Page 5 1694.011;1377v4 EXHIBIT E Credits Against Tra=nsportalian tmpac? Fees Quantity 'Unit Type Unit Cost Total NORTH TARRAINT PARKgA'AY ROW by HERITAGE INN 816t2007 M28 ACRE $ MIZOu0.00 790*4 Tt?TALROW VALUE DEt)1CATC hII 1 1. 1 . $ 79GA EXHIBIT "E" -IMPACT FEE CREDIT AGREEMENT Page 6 1694.011;1377v4 Exhibit "F" Allocation of Credits Option A: Impact Fee Credits described in Exhibit shall be allocated as follows: Description of Lot Impact Fee Credits X Option B: Impact Fee Credits of $1,574,903.72 described in Exhibit "E" shall be included in a pool to be credited against building permit fees for the following property, until the credits are fully utilized: All property in the Presidio Addition, PP-007-033, consisting of the Property and the Lowe's Tract EXHIBIT "F" -IMPACT FEE CREDIT AGREEMENT 1694.011;1371v4