HomeMy WebLinkAboutContract 54885 CSC No. 54885
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 Everman Owner, LP, a Delaware limited partnership
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 63.015 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 X; and
WHEREAS, the City has determined the maximum transportation impact fees to
be assessed against new development within service area X to be $3,806 per service unit
(vehicle-miles of demand); and
OFFICIAL RECORD
Transportation Impact Fee Credit Agreement—CA-20-016 CITY SECRETARY Page 1 of 14
Everman Parkway Development
Updated 2/15/19 FT.WORTH, TX
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 shown on Exhibit "D" for
which credits against transportation impact fees shall be granted; and
WHEREAS, Owner has received the following final plat approval:
Carter Industrial Park Addition,FS-20-134 on September 30, 2020; and
WHEREAS, the Owner has dedicated 25,911 square feet of right-of-way for
eligible arterial, Oak Grove Rd within the following final plat:
Carter Industrial Park Addition final plat,FS-20-134 recorded as Instrument
D220250494 on September 30, 2020; and
WHEREAS, the City and Owner have entered into a Future Improvements
Agreement for Infrastructure Improvements-Everman Parkway Development executed
on September 25, 2020 and recorded as City Secretary Contract No. 54531 (the "FIA");
and
WHEREAS, pursuant to such FIA, Owner has paid the City the sum of
$1,336,393.73 in full satisfaction of Owner's obligation to construct the Paving and Storm
Drain Improvements for Oak Grove Rd.
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 has dedicated the rights-of-way for
the system facilities identified in Exhibit "D" and satisfied the obligation to construct
system facilities via the FIA.
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.
Transportation Impact Fee Credit Agreement—CA-20-016 Page 2 of 14
Everman Parkway Development
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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
(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.
Transportation Impact Fee Credit Agreement—CA-20-016 Page 3 of 14
Everman Parkway Development
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(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 is intentionally left blank)
Transportation Impact Fee Credit Agreement—CA-20-016 Page 4 of 14
Everman Parkway Development
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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
Everman Owner,LP
a Delaware limited partnership
Drama Qur hdaf
Dana Burghdoff ov 19,202016:16 CST) By: BV Everman,LP
Dana Burghdoff a Texas limited partnership
Assistant City Manager its general partner
Date: Nov 19, 2020 By BV Everman GP,LLC
a Texas Limited Liability company
its general partner
Recommended By:
7hDlylgM, L21f2l-
Thomas A.Leiser(Nov 14,2020 08:14 CST)
IS f �e�G Thomas A. Leiser
DJ Harrell(Nov 16,2020 09:41 CST)
Manager
DJ Harrell
Interim Director,Development Services
Approved as to Form and Legality:
Wax, City Contract Compliance Manager:
Mack(Nov 19,202011:12 CST)
Douglas Black By signing, I acknowledge that I am the
Assistant City Attorney person responsible for the monitoring
M&C: None required and administration of this contract,
Form 1295:None required including ensuring all performance and
reporting requirements.
ATTEST: �aoF FORr0 0 c
0 ;O�
�Voo o=0 Leonard Mantey(Nov 13,2020 17:29 CST)
o
0
0000000000. Leonard Mantey
a �EXA5o4p
�uaaaa� Planning Manager
Mary J.Kayser
City Secretary
OFFICIAL RECORD
Transportation Impact Fee Credit Agreement—CA-20-016 CITY SECRETARY Page 5 of 14
Everman Parkway Development
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-20-016 Page 6 of 14
Everman Parkway Development
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EXHIBIT A
Description of Property
St11NNINC, at a 1/2-Indh Iron rod f*wd In the nolh right-of-wdy line of EYex'mdn 'Parkway{a iFO..raint w16 rFgirt-of-xap}, maid po3,k
being ms southwest comer of said Lot 4 and tM southeast earner ¢F Lol 1, block 8, Carter Indw+Y,at Park hddhion, an addivan to time
04y of Fah Wcpjh wwrding to the plat r#ccrdq In valums 39 -19$, Pagr 23 of mall PMt Racoirda;
THENCE, North CU dbgrec% W rnnuted. 54 eerande Was#, departing the Said north lire o1 Evermon Porkyray and olong the week Ilnp of
boll Lot 4 and ttre east Fria of laid Lht 1, at a dmtanre of 9W.53 feat paemirrg a 1/2-Inch Yon rtd FFRh 13RITA;N CRAWOR6'oop
%Und 6f the nothwedt ddrner df ddld 1-61: 4, c4nilnuing In all d total 6strnce 61 1,6OQ.39 feet lb a 1/2-IM& "ran rdd found Me tha
northeos.t comer r*I mold Lot 1;
THENCE. South 89 dogrdliem 29 minutr.. OE Awca"v Wnc-t, 0mg thw north hnrp of meld Ui 1, 0 4wtanm of 127.01 feet to o 1/2-Indn
Wim end with VACHECO KOCH'tap ark far caner, said point being the eouthaomk corner of that trocf of land described In Spacid
'Nvrvltyr Oran to wleeowi Pocift Aakoad Company rsCcrdsd In Vdama 9941, Page 1080 of bald bawd Recvda;
THENCE. Muth 00 dsWw% 33 minutes, 56 le onde loses#, vlong the cost line of reed Ills.souri Paerflo Railroad CcmPany tfoct. a cistance
at mi.iu Tait ka o r}'t-vicn ran mo wlm 'FALL l u nuk.n- cap sit ror uke nignikmg at a Twgant eurm to tnt lave;
,rCNM IN d Wth-Nesterly dkbttldr, 46nilhwing alM_q th6 mill neol. Iind of the 1166Nbrl Padflr Rallf6M Cddipbby trett and 5816 turve
to time Feet. haYIn9 a central angrb di 24 degrees, 33 n%w#ed_ 58 eetdmin, a rodkrn of M$99 feet, a dwrd Laarrnq oral dlmtenee bf
Nai1h 12 degrees, 51 mknut4m 54 wwndl riles#, 255.07 fist. on ores dWtunce of 257.Ue reel to o i/Z-lnoh Iron rod with PACHEICO
KDGM cop xi at Lhe and pf siclo Our ,
THMCE, North 54 4Ww4 5a Trniinukak 07 vmw%ds Eaet, departing the wall cost We at the Allaweuri PwIfIo RaVood Cuwany tract, a
diotalecs pr 1d0,67 fleet to 0 1/2-melt Iron rod -Ith SWAIN CRAIFOn'eaP lelsnd In th.e want like of Lot 3, 111*& S. Carter Ihdubtrlel
Pate. on addition to the Clty of r'ort 1Harth according to the plat recorded In Instrument No. 1)2016W`119 ai mold WON Public Raaar*e,
THENCF', dlang the wont and Muth Knee ar Bald Lot 3, the FtWowing f� (5) cells:
South 04 degrees, 44 minutes, 43 seconds. Week, o dlatanca of 192.55 Ite4 to d 1/2-16th Iran rod found for tiq angle paint:
South 44 degrees, 09 minuisy, 51 secmds Evert, a dltigrlgs o1 184.14 1e61 to a 1/2-Inch Iron rou fMrld for an angs pglr,t;
Snklti• 51 dereee, 23 mlrwl:m. 17 saoonde East, a enskance of 21CLW feet to o i/2-lndF ion rod with PACNEOG KOCil'cap set
kr an ongle point,
$path 71 degnns, ;53 mk wtm 5l? sfwrKw Eost, o dlalance 0 144543 fee# to a 1,12-Incri ken red ntlth 13RITAIN CRALWFCRp'cop
round fix' do wgle paint;
SwtIL Ga "e m, rig enlnutea, 32 bedonda Uit, a dlatwdb 6t 333.38 lest E6 ti 1/2-Inth kin tad with tgRITAIN CRAMOFD-uo
fwnd for +hs sauthsoml comer of said Loi I sc-d point "" w the -bet Fine o1 Lot 2, elock 8_ Carter InduetrW Pork, do
Mddltlm ta. 11ha City of Fort Worth arpading to the plat rbwrda,p In inMtrumpnt No. D20SC$7041 of pald 0fHo1c1 Publlc RsopHw
Tr1ENCE, South 00 degrees, 32 M-Mutes, 27 seconds Eoet, long the void week Ilan of Lot R, a dlatmce ai 9.78 feet to a 1/2-inch irn
Fyn/ wltfl -CMTEIK ALtR VMlX!53 cu1F iCwW lye 11`110 ewUrneet wi mT or Bald Lai 2:
THI7NCE. Narth M dmgror& 26 rnlrwtes, 03 McPnda East, along she smtn I„b et said Lot 2, o dletou:e of 6*0.99 feet la a 1/2-Wien
ion red with rt#RTER AND OURCESS 4;qP found for caner In the east Ilea of jwo Deck 6 and %v wart rlyht-of-woy Illts ol! Oak (trove
Roc4 (or vorkrWe width might-of-■ayJ
THENCE, Smite 00 d"em, 25 mlrrutaa, 6A wands East, along the acid east Ilia or block 8 and the said west llna 6f Oak Grdrm
11 49" a tH g-A of 1,72M4 feet to a W-ING11 r1M r4C with 'P9111 4 fc4CH-oap met far the bMinnhg of a Imtglert curva to IN
Fight; said point being the nprlh *reel of a right-af-way 4;gmmr clip lit the nterlrctiwl of the sped *'set Ikls of Q* Grq" Road old the
mold north Iinm ai Euennon WgrkYgjg
imex E, o5utmmiatirip EIr#69m, dlhA4 gels emm e11p am Sd1E eupw tb t66 7igm. iwmfi� d IMTral BRII6 bf ay AMV"e, I&a IM11%1141,
30 wconon, a radlus of 1MOO 11,se a chord bearing and dletwee of Sw h 4-4degreek 33 rniewlea, 17 abodnde West. 141.39 "1, an
grc dlatonoe of 157,04 fret to a 1/3-k.oh kon rod with 'PACHE00 XIStK'wp not of the and of acid durwb_
THENCE, South 8B dayme4 32 mh1ukeq 32 seconds West, atong the said north line of EtKrmgn Porkroy, a dlstonoe of '-342.65 fret La
the IadlNr CF BikMNNINf�;
CON17AIWO: 2.770"1 square feat dr exelo aaroe br Iand, more ce Ieeb.
Transportation Impact Fee Credit Agreement—CA-20-016 Page 7 of 14
Everman Parkway Development
Updated 2/15/19
EXHIBIT B
Map of Property
LO
C
PROJECT LOCATION
Ln
_ LL3
w CD
w Q
� ENON
J
J_
-1 0
i
EVERMA
TARRNANT COUNTY
"IMAP F 150L
VICINITY MAP
(NOT TO SCALE;
Transportation Impact Fee Credit Agreement—CA-20-016 Page 8 of 14
Everman Parkway Development
Updated 2/15/19
EXHIBIT C
Development Plan
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Transportation Impact Fee Credit Agreement—CA-20-016 Page 9 of 14
Everman Parkway Development
Updated 2/15/19
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Transportation Impact Fee Credit Agreement—CA-20-016 Page 10 of 14
Everman Parkway Development
Updated 2/15/19
EXHIBIT D
Transportation Improvements
T
Carer IndJs:rlal Park
L IT ! I' 'Eligjhle forCrLdit Aga:ast
• - Transportatbn Impact Fees
r�
Rlght-af-WayOvdiratian
SUR
•N � c
i
F s
.,
0
$�
f
YIR
pj r y
_--.�VFRif,4f4
EVEt1�hYJ� � m
• r
Cligihle i-np�"t!-nenta Li-nits %
k
Oak-;rove R/c&J LOW D-e d i cy.i cLn
L Oak Grave Ruad ru!ure Impravement
r
Agmemem[
* i
6.
Transportation Impact Fee Credit Agreement—CA-20-016 Page 11 of 14
Everman Parkway Development
Updated 2/15/19
EXHIBIT E
Credits Against Transportation Impact Fees
Everman Parkway Development
Net Credit Against Transportation Impact Fees
Value of Capacity Provided for Oak Grove Rd
Item Instrument# Plat Case # Value
ROW Dedication ❑220250494 FS-20-134 $ 52,599.33
Future Improvements Agreement CSCO 54531 FS-20-134 $ 1,336,393.73
Total Credit Earned $ 1,3aa,993.06
Existing demand for Shell Warehouses
Address Building Permit plumber Date Used Value
8400 Oak Grove Rd 1 PB20-15238 111812020 $ 137,060.00
1401 Everman Pkkvy 2 PB20-15239 11/8/2020 $ 286,700.15
Total Existing demand $ 423,760.15
Net Credit Available (Credit less Demand) $ 965,232.91
Transportation Impact Fee Credit Agreement—CA-20-016 Page 12 of 14
Everman Parkway Development
Updated 2/15/19
ROW Valuation Based on Adopted Transportation Improvements Plan
Eligible Arterial Oak Grove Rd
2017 Transportation Improvements Plan Project Y-18
Number
Estimated Construction Costs from 2017 $"7,361,000
Transportation Improvements Plan
Value of Total Project Right-of-Way(20%of $1,472,200
Cc nstructio n Cost)
Total Project Length (LF) 6,600
Arterial Cross-Section Width (LF) 110
Additional ROW needed for Roundabout(SF) 0
Total Project Right-of-Way(SF) 726,000
Right-of-Way Value PerSquare Foot $2.03
TAU Value as of 11/8/20
TAD Account 42336625
Total Area(SF) 696,960
Appraised Value $360,000.00
Value per Square Foot $0.52
Right-of-Way Dedication
Oak Grove Rd
Final Plat Case Number FS-20-134
Recording Instrument Number D220250494
Total area of ROW dedicated 25,911 sq ft
Value per SF $2.03
Credit 52,599.33
Total CreditAvailable $52,599.33
Existing Demand/Consumed Credit
Permit# Number Street Date Used -Development Type SAhedule 2 Fee
D32'-' 5238 5400 Oak Grove Rd 11J.9/2020 Shell warehouse 137,060.00
D32'-_5239 1401 Everman Pkw 11/6/2D20 Shell warehouse $ 256,700.1.5
TOTAL $ 423,760.15
Transportation Impact Fee Credit Agreement—CA-20-016 Page 13 of 14
Everman Parkway Development
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EXHIBIT F
Allocation of Credits
Credit is to be allocated on a first-come,first-served basis to building permits within the
final plat boundary of FS-20-134 (Carter Industrial Park).
Transportation Impact Fee Credit Agreement—CA-20-016 Page 14 of 14
Everman Parkway Development
Updated 2/15/19