HomeMy WebLinkAboutContract 55234 CSCO: 55234
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 Vaquero WJ Boaz Partners,LP,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 was the owner of approximately 1.355 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 developed 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 G; and
WHEREAS, the City has determined the maximum transportation impact fees to be
assessed against new development within service area G to be $1,799 per service unit (vehicle-
miles of demand); and
OFFICIAL RECORD
CITY SECRETARY
FT.WORTH, TX
Transportation Impact Fee Credit Agreement-CA-20-004
Westover 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 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
WHEREAS, the Owner has received the following final short plat approval:
Westover Addition, FS-19-015; and
WHEREAS, the Owner has dedicated 4,674 square feet of right-of-way for W J Boaz
Road, Street Name:
Recorded as Instrument D220001944, recorded January 3, 2020; and
WHEREAS, the Owner has received approval for construction plans and executed
Community Facilities Agreements, and obtained final acceptance by the City for the following:
Dollar General, City Project No. 102256 CFA19-0139, accepted June 2, 2020.
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 dedicated the rights-of-way for and/or
constructed 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. A copy of the receipt for the
refund is shown on Exhibit "F". The City shall grant Owner the refund within 30 days of the
Effective Date.
Transportation Impact Fee Credit Agreement-CA-20-004 Page 2 of 15
Westover Addition Updated 2/15/19
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 "G", which is attached hereto and incorporated
herein by reference. The Parties agree that the system facility for which credit is to be granted has
been dedicated and accepted by the City. The Parties further agree that the following events have
taken place, if applicable:
(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 from its Effective
Date until payment of the credits pursuant to the terms herein.
7. Agreement to Run with the Land. Owner shall have the right to assign this
Agreement to any person or entity("Owner's Assignee")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-20-004 Page 3 of 15
Westover Addition Updated 2/15/19
(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.
10. Headings. The paragraph headings in this Agreement are for convenience only,
shall in no way define or limit the scope or content of this Agreement, and shall not be considered
in any construction or interpretation of this Agreement or any part hereof.
(Remainder of Page Intentionally Left Blank)
Transportation Impact Fee Credit Agreement-CA-20-004 Page 4 of 15
Westover Addition 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
� - / Vaquero WJ Boaz Partners, LP
,�awl� �LG2�1 i✓!✓ a Texas Limited Partnership
Dana Burghdoff(Jan 28,20 0:24 CST
Dana Burghdoff By: Vaquero Ventures Management, LLC
Assistant City Manager its General Partner
Date: Jan 28, 2021
w.A 1-gnd th
W.A.Landreth(Jan 27,2021 11:01 CST)
W. A. Landreth
Recommended By: Manager
Z-�
DJ Ha�27,2021 12:29 CST)
D J Harrell
Director,Development Services
Approved
//as to Form and Legality:
W�s�l
Mack(Jan 27,202118:21 CST)
Douglas Black City Contract Compliance Manager:
Assistant City Attorney
M&C: None required By signing, I acknowledge that I am the
Form 1295:None required person responsible for the monitoring and
administration of this contract, including
ensuring all performance and reporting
ATTEST: poF°F°Rr�a� requirements.
Pvo =d
° °
a�*°OOp°°OO d Leonard Mantey(Jan 25,2021 14:25 CST)
XA`-'oar
Mary J. Kayser Leonard Mantey
City Secretary Planning Manager
OFFICIAL RECORD
CITY SECRETARY
FT.WORTH, TX
Transportation Impact Fee Credit Agreement-CA-20-004
Westover 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-20-004 Page 6 of 15
Westover Addition Updated 2/15/19
EXHIBIT A
Description of Property
Beginning at a 5/8 inch capped rebar stamped"Gorrondona&Assoc."found at a salient corner of the south right of
way of WJ Boaz Road,at the most westerly southwest corner of the tract described in the deed to the City
of Fort Worth for the said south right of way of W7 Boaz Road and the west right of way of Old Decatur
Road,recorded under Instrument Number D210280621,O.P.R.T.C.T.;
THENCE with the south and west lines of the said City of Fort Worth tract for right of way of WJ Boaz Road and
the said west right of way of Old Decatur Road,the following calls:
1. SOUTH 89 degrees 48 minutes 42 seconds EAST,a distance of 239.45 feet to a found 1/2 inch capped
rebar stamped"Brittan.&Crawford";
2. SOUTH 45 degrees 17 minutes 05 seconds EAST,a distance of 49.09 feet to a found 112 inch rebar;
3. SOUTH 00 degrees 45 minutes 26 seconds EAST, a distance of 198.42 feet (right-or-way deed tail
198.94 feet)to the southeast corner of the tract described in the deed to Vaquero WJ Boaz Partners,LP,a
Texas limited partnership recorded under Instrument Number D219048057, O.P.R.T.C.T., from which a
found 112 inch capped rebar stamped "Brittan&Crawford" bears SOUTH 67 degrees WEST a distance
of 0.20 feet,and a 5/8 inch capped rebar stamped "Gorrondona&Assoc."found at the northwest corner
of the tract(Parcel No. 16)described in the deed to the City of Fort Worth for the west right of way of
Old Decatur Road, recorded under Instrument Number D214065931, O.P.R.T.C.T. bears NORTH 89
degrees 57 minutes 32 seconds EAST a distance of 5.45 feet;
THENCE SOUTH 89 degrees 57 minutes 32 seconds WEST, with the south line of the said Vaquero WJ Boaz
Partners tract,a distance of 277.23 feet to a 5/8 inch capped rebar slumped"Hancock Surveying"found at
the southwest comer of the Westover Boaz,LLC tract;
THENCE NORTH 00 degrees 04 minutes 05 seconds EAST,with the west Iine of the Vaquero WJ Boaz Partners
tract, a distance of 233.93 feet returning to the Point of Beginning and enclosing 1.463 acres(±63,715
square feet).
Transportation Impact Fee Credit Agreement-CA-20-004 Page 7 of 15
Westover Addition Updated 2/15/19
EXHIBIT B
Map of Property
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Transportation Impact Fee Credit Agreement-CA-20-004 Page 8 of 15
Westover Addition Updated 2/15/19
EXHIBIT C
Development Plan
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Transportation Impact Fee Credit Agreement-CA-20-004 Page 9 of 15
Westover Addition Updated 2/15/19
EXHIBIT D
Transportation Improvements
- .. .g WestoverAddition
�1 r 'Eligible for Credit Against
� - yam. �- ' Transpariation lmpa€t Fees
■t <, Developer Built Roads'
a - �
�s ROW Dedication
Credit Agreements
M
■ _ CreditAgr�eement boundary
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Injtrument ft'f Nigible Arterial Eligible Improvements
•, Number
b2200�1944 tih+J Boaz Rd ROW Dedi cat ianfer4,6l2ft along k
property frontage
CSCO53323 WJ Boaz Rd Construction of rightrn lane ` „I
i IN Ali i.
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Transportation Impact Fee Credit Agreement-CA-20-004 Page 10 of 15
Westover Addition Updated 2/15/19
EXHIBIT E
Credits Against Transportation Impact Fees
Westover Addition
Net Credit Against TranSportdtion Impact Fees
Value of ROW Dedication
Instrument # Plat Case# Eligible Arterial Value
C7220001944 FS-19-015 WJ Boaz 8,459.94
Value of Capacity Provided
City Project # Plat Case It Eligible Arterfal Value
102256 FS-19-015 W1 Boaz $ 82,001.44
Value of Existing Demand
PB19-13675 4501 W J Boaz Rd 8,459.94
PB19-13675 4501 W J Boaz Rd 31889.46
Net Credit Available 50,111.98
Transportation Impact Fee Credit Agreement-CA-20-004 Page 11 of 15
Westover Addition Updated 2/15/19
Right-of-Way Val nation for Westover Addition
Valuation Method 1-Preoentage of TIP Project Cost
Eligible Arterial W J Boaz
2017 Transportation Improvements Plan Project E-11/G-1
Number
Estimated Construction Casts from 2017 "$10,746,000
Transportation Improvements Pi an
Val Lie of Total Project Right,of-Way(ZC%of $2,149,200
Construction Cost)
Total Project Length(LF) 10,815
Arterial Cross-Section Width(LF) 110
Additional ROW needed for Roundabout(SF) 0
Total Project Right-of-Way{SF) 1,189,650
Right-Of-Way Value Per Square Foot $1.91
Valuation Method 2-TAD appraisedvalue
TAD Value as of 12/1/19
TAD Aunt 053JL0733
Total Area(SF) 637,152
Appraised Value $58,508.00
Value per Square Foot S0,10
Right-of-Way Dedication
W J Boaz
Recording Instrument Number 0220001944
Reaardirkg Date 1/3/2020
Total area of ROW dedicated 4,674 sq ft
Value per SF $1.81
Credit S8,459.94
Total Credit Avsilable 59.459,94
Existing Deniand $0.0D
Net Credit Available $8,459.94
Transportation Impact Fee Credit Agreement-CA-20-004 Page 12 of 15
Westover Addition Updated 2/15/19
Capac ity Provided by WJ Boaz Improvements CPN 102256
Pawing
Item Description Unit Quantity ElobQuan le Unit Price Credit Available
1 TURN LANE AODITIONW/10"MINIMUM SF 4,154 4r154 $ 11.19 46,483.26
PAVEMEW
2 DRIVEWAY APPROACH =F 760 0 $ 11.19 � -
3 PUBLICSIDEAWALKS5'AND10'INWIOTH F 2,27E 2,276 6.75 $ 15,363.00
PER CIVIL PLANS
4 FINAL LANDSCAPING-SOD AND TOPSOIL =F 4,175 4,175 $ 0.56 $ 2 338.00
5 LIME STABILIZE 8"ROW PAVING SUBG RAID E TN 360 350 $ 5.51 1,983.60
6 PU BLI C ADA RAMPS EA 3 1 $ 2166.67 $ 2166.67
Paving Subtotal $ 68,334.53
Storm Drain
Item Description Unit Quantity Eloble Unit PrKeNo- Quantity Credit Available
1 12"RCP LF 30 0 105.00 -
2 12"RCP MAN UFACTURED45 BEND LF 1 0 $ 630.00 $ -
3 FLARED ENO SECTION LF 1 0 $ 2,350.00 $ -
4 STONE RIP RAP LF 1 0 $ 750-W $ -
Storm Drain Subtotal $
Signal Improvements
Item Description Unit Quantity Eligible Unit PrKe
No_ Quant" Credit Available
1 ROW THERMO STRIPING AND SIGNAGE LS 1 1 $ 3300.00 $ 3300.00
2 RELOCATE TRAFFIC SIGNS EA 2 2 $ 30O.00 " 600.00
3 RELOCATE PIED POLES EA 1 1 $ 16 901.50 $ 16901.50
Street Lights Subtotal $ 20,801.50
Pawing Subtotal $ 68,334.53
Storrs Drain Subtotal $Street Lights Subtotal $ 20 80150
CON STRUCT10N SUBTOTAL $ 68r3e.53
Other Eligible Items
Description
En i n e e ri ng,Su rveying and Material Te st ina 20% of Paving&Storm Brain $ 13 666.91
Total Value of Capacity Provided 82,001.44
Transportation Impact Fee Credit Agreement-CA-20-004 Page 13 of 15
Westover Addition Updated 2/15/19
EXHIBIT F
Allocation of Credits
Credit will be allocated on a first come, first serve basis within the boundary of the recorded plat
FS-19-015
Transportation Impact Fee Credit Agreement-CA-20-004 Page 14 of 15
Westover Addition Updated 2/15/19