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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 Legacy Brewer McPherson, 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 3.519 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 Y; and
WHEREAS, the City has determined the maximum transportation impact fees to be
assessed against new development within service area Y to be $2,348 per service unit (vehicle-
miles of demand); and
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 dedicated 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
OFFICIAL RECORD
Transportation Impact Fee Credit Agreement-CA-20-007 CITY SECRETARY Page 1 of 12
Legacy Chisholm Trail Ranch Updated 2/15/19
FT. WORTH, TX
WHEREAS, the Owner has dedicated 18,405 square feet of right-of-way for eligible
arterial, Brewer Boulevard:
Recorded as Instrument D218164719 on July 26, 2018; and
WHEREAS, that eligible right-of-way was included in the Rock Creek Ranch/Tarleton
State University Brewer Boulevard plat, FP-18-004:
Recorded as Instrument D219030365 on February 15, 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 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.
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
Transportation Impact Fee Credit Agreement-CA-20-007 Page 2 of 12
Legacy Chisholm Trail Ranch Updated 2/15/19
(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.
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)
Transportation Impact Fee Credit Agreement-CA-20-007 Page 3 of 12
Legacy Chisholm Trail Ranch Updated 2/15/19
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
Legacy Brewer McPherson, LLC
a Texas limited liability company
Ddnd BurghdafF By: Legacy Capital Partners II, Ltd
Dana Burghd off g26,202013:46 CDT) its manager
Dana Burghdoff
Assistant City Manager By: Legacy Capital Company
Date:
Aug 26,2020 Its general partner
6 C-A.6�V ,
Recommended By: Steven D.Saxon(Aug 20,2020 09:27 MDT)
Steven D. Saxon
President
DJ Harrell(Aug 26,202012:18 CDT)
D.J. Harrell
Director,Development Services
Approved as to Form and Legality:
DEIQP2i
Mack(Aug 21,202010:20 CDT)
Douglas Black
Assistant City Attorney
M&C: None required City Contract Compliance Manager:
Form 1295:None required " ,*FORT�aa
��o °°°°°°oo, d
°° c��� By signing, I acknowledge that I am the
o��o o=� person responsible for the monitoring and
ATTEST: p ,�o° *� ad n s ra n f h s n ract, including
nE000000000 ensuring all performance and reporting
requirements.
/f-AVOI Y� 60`Z419f
'for Ronald P.Gonzales(Aug 26,202014:25 CDT)
Mary J. Kayser Juli42
Neste an(Aug 20,2020 10:36 CDT)
City Secretary
Julie Westerman
Graduate Engineer
OFFICIAL RECORD
Transportation Impact Fee Credit Agreement-CA-20-007 CITY SECRETARY Page 4 of 12
Legacy Chisholm Trail Ranch Updated 2/15/19
FT. WORTH, TX
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-20-007 Page 5 of 12
Legacy Chisholm Trail Ranch Updated 2/15/19
EXHIBIT A
Description of Property
BEING a tract of land situated in the Juan Albirado Survey, Abstract No. 4, City of Fort Worth,
Tarrant County, Texas, being a part of the tract of land described in the deed to Legacy Brewer
McPherson, LLC recorded in County Clerk's Document Number D217055675, Deed Records,
Tarrant County, Texas, said tract of land being more particularly described by metes and bounds
as follows:
BEGINNING at a point in the southerly right-of-way line of McPherson Boulevard(a 110' width
public right-of-way),recorded in County Clerk's Document Number D212192932,Deed Records,
Tarrant County, Texas, for the northwest corner of a tract of land described in the deed to the City
of Fort Worth (Brewer Boulevard, a variable width public right-of-way) recorded in County
Clerk's Document Number D216048767, Deed Records, Tarrant County, Texas;
THENCE South 06°32'38" East, departing the southerly right-of-way line of McPherson
Boulevard with the westerly right-of-way line of said Brewer Boulevard,a distance of 106.07 feet;
THENCE South 38°27'22" West, continuing with the westerly right-of-way line of said Brewer
Boulevard, a distance of 370.00 feet to a point;
THENCE North 51°32'38" West, departing the westerly right-of-way line of said Brewer
Boulevard, a distance of 486.09 feet to a point;
THENCE North 38°40'42"East, a distance of 445.00 feet to a point in the southerly right-of-way
line of said McPherson Boulevard;
THENCE South 51°32'38" East, with the southerly right-of-way line of said McPherson
Boulevard, a distance of 409.37 feet to the POINT OF BEGINNING and containing a calculated
area of 213,052 square feet or 4.891 acres of land.
SAVE AND EXCEPT:
BEING a tract of land situated in the Juan Albirado Survey, Abstract No. 4. City of Fort Worth,
Tarrant County, Texas and being a part of that certain tract of land as described by deed to Legacy
Brewer McPherson, LLC., recorded in County Clerk's Document Number D217055675, Deed
Records. Tarrant County, Texas, said tract of land bring more particularly described by metes and
bounds as follows:
BEGINNING at a 5/8"iron rod with yellow cap stamped"DUNAWAY ASSOC. LP" found in the
south right-of-way line of McPherson Boulevard (a 110'width public right-of-way), as shown on
the plat for McPherson Boulevard right-of-way, recorded in County Clerk's Document No.
D214206374, Plat Records,
Tarrant County, Texas, the north corner of said Legacy Brewer McPherson, LLC. tract and the
most northerly northeast corner of that certain tract of land described as Tract B, by deed to WM
Transportation Impact Fee Credit Agreement-CA-20-007 Page 6 of 12
Legacy Chisholm Trail Ranch Updated 2/15/19
Sub Ctr, LP, recorded in County Clerk's Document Number D214198092, Deed Records, Tarrant
County, Texas;
THENCE South 51' 32' 38" East, with the south right-of-way line of said McPherson Boulevard,
the northerly line of said Legacy Brewer McPherson,LLC.tract, a distance of 248.00 feet to a 5/8"
iron rod with yellow cap stamped "DUNAWAY ASSOC. LP" set;
THENCE South 38' 40' 42" West, departing the south right-of-way line of said McPherson
Boulevard, the
northerly line of said Legacy Brewer McPherson,LLC.tract,and crossing into said Legacy Brewer
McPherson, LLC. tract, a distance of 241.00 feet to a 5/8" Iron rod with yellow cap stamped
"DUNAWAY ASSOC, LP" set;
THENCE North 51' 32' 38" West, continuing across said Legacy Brewer McPherson, LLC. tract,
a distance of 248.00 feet to a 5/8" iron rod with yellow cap stamped "DUNAWAY ASSOC. LP"
set in the westerly line of said Legacy Brewer McPherson, LLC. tract and in an easterly line of
said Tract 3, WM Sub Ctr, LP tract;
THENCE North 38' 40'42" East, with the westerly line of said Legacy Brewer McPherson, LLC.
tract and with an easterly line of said Tract 3, WM Sub Ctr, LP tract, a distance of 241.00 feet to
the POINT of BEGINNING and containing a calculated area of 59,768 square feet or 1.372 acres
of land.
Transportation Impact Fee Credit Agreement-CA-20-007 Page 7 of 12
Legacy Chisholm Trail Ranch Updated 2/15/19
EXHIBIT B
Map of Property
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PROJECT r � MCPHEMN BLVD
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"DUNAWAY
SSG @41ey.Vvenw•luffe Ml VICINITY MAP
tel:87T.335.11�1
IN REG.F•111 41
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Transportation Impact Fee Credit Agreement-CA-20-007 Page 8 of 12
Legacy Chisholm Trail Ranch Updated 2/15/19
EXHIBIT C
Development Plan
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rdT}rr--CF-MY }
BET. NO, ov a
PUTUIE f d A T r T
CHSE TRAIL SECTIM 3 i In,C1Rs. — S.314 acres per deed
0_423 acres per ROW dedication �
r
� =i_372 acres sold
cAL1Fb 119.715 +DES TRACT B `w 54,E +:ifL LP - 3.519 acres net
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KARNCS ARE REFEREMGFID LWTABIZ
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CGOADM7E SYS? 4! 91 32�811 �'i176'
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i4202 P. HCRTH AW-pC4N L2 413239� !)D'
D+�TUA OF 9903 AS OER;NED 4 200 400
FROM UPS 0FMFU%eATCN_
De elo ment Plan
3.519 Acres
Transportation Impact Fee Credit Agreement-CA-20-007 Page 9 of 12
Legacy Chisholm Trail Ranch Updated 2/15/19
EXHIBIT D
Transportation Improvements
'.•
LEGACY CHISHOLM
TRAILRANCH
COMMERCIAL
*Eligiblefor GreditAgainst 1
Transportation Impart Fees
Right-of-Way dedication
s�
Instrument
Number El igibl e Arteri al EligibleImprovements
R04V dedi Fation from
r
D218164719 Brewer Blvd MCPhersonfor 3 5ft along
property frontage
Transportation Impact Fee Credit Agreement-CA-20-007 Page 10 of 12
Legacy Chisholm Trail Ranch Updated 2/15/19
EXHIBIT E
Credits Against Transportation Impact Fees
Right-of-Wa V Value Esti mate for Legacy Chi shoirn Trail Ranch
ROW '%a I u ati on Based on Adopted Transportation Improvements Plan
Eligible Arterial Br-ewer Rd
2017 Transportat ion I mprovernents Plan Project Y-29
Number
Estimated Construction Costs from 2017 S10,312,000
Transportation Improvements Plan
Value of Total Project Right-of-Way (00%of $2,062,400
ConstruffiDn Cost)
Total Project Length (LF� 10S80
Arturia I Cross-Section Width I LF} 110
Additional ROW needed for RDu ndabout(SF) 0
Tot al P•o iec! R-ght-of-V.ay(SFM 1,163,800
Right-of-Wayr VaIue Per Square Fast 51.78
TAD Value as of 611120
TAD Account 42339772
Total Area JSF) 10a,900
Appraised Land Value S 140,C 00-0-0
Va I ue per Square Foot $129
Right-of-Wa V Dsd i cat ion
ar.ewer Rd
Final Plat Case Number Induded in FP-18-0-04
Record Deed- Instrument Number D22054470
Width of ROW dedicated 55 ft
Length of R-OW dedicated 334-64 sq ft
Total area of ROW dedicated 1a,405 sq ft
Va Iue per SF(Maxim um of highlkghted ce IIs) 51.78
Total Credit Available S32,762-H
Transportation Impact Fee Credit Agreement-CA-20-007 Page 11 of 12
Legacy Chisholm Trail Ranch Updated 2/15/19
EXHIBIT F
Allocation of Credits
All credit shall be allocated on a first-come, first-serve basis to building permits within the
development's boundaries, as shown in Exhibit"C".
Transportation Impact Fee Credit Agreement-CA-20-007 Page 12 of 12
Legacy Chisholm Trail Ranch Updated 2/15/19