HomeMy WebLinkAboutContract 58734 CSCO NO. 58734
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 T H E C I T Y O F F 0 R T W 0 R T H, T E X A S (the "City"), a Texas home rule municipal
corporation, and Carter Park East Land, LLC, a Delaware limited liability company authorized to do
business in Texas (the "Owner") (the City and the Owner a "Party", and collectively, the "Parties").
RECITALS
W H E R E A S, the Owner is the owner o f approximately 556 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 o f said development; and
W H E R E A S, 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
W H E R E A S, the Impact Fee Prog r am provides for credits against impact fees for dedication
o f right-of-way and/or construction o f transportation improvements identified as impact fee eligible
on the adopted TIP; and
W H E R E A S, the Property is located within service area X; and
W H E R E A S, 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 o f 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 agreed to dedicate the right-of-way and/or constructed the
transportation improvements shown on Exhibit "D" for which credits against transportation impact
fees shall be g ranted; and
W H E R E A S, the Owner has dedicated 115,458 square feet o fright-of-way for Joel East Road,
an eligible arterial, recorded byinstrumentD219130408,June 14, 2019; and
OFFICIAL RECORD
CITY SECRETARY
FT.WORTH,TX
Transportation Impact Fee Credit Agreement- CA-21-009 Page 1 of 20
Carter Park East Updated 2/23/2021
WHEREAS, the Owner has received approval of infrastructure plans for Joel East Road
JPRC18-0102), an executed Community Facilities Agreement (CFA18-0186), recorded by City
Secretary Number 52710, and accepted by the city October 1, 2020; and
WHEREAS, the Owner has received approval of infrastructure plans for Oak Grove Road
JPRC18-0096), an executed Community Facilities Agreement (CFA18-0187), recorded by City
Secretary-Number 56080, currently under construction; and
WHEREAS, the Owner has received approval for the Carter Park East preliminary plat (PP-
20-037); and
WHEREAS, the Owner has dedicated 25,867 square feet of right-of-way for Oak Grove
Road, an eligible arterial, recorded by Instrument D221089352,April 1, 2021; and
WHEREAS, the Owner has received approval of infrastructure plans for Oak Grove Road
JPRC20-0127), an executed Community Facilities Agreement (CFA21-0004), recorded by City
Secretary Number 55443, currently under construction.
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, constructed
and/or constructing the system improvements identified in 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-21-009 Page 2 of 20
Carter Park East Updated 2/23/2021
(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.
(c) Provide final acceptance by the City for the construction in process and amend
the transportation impact fee credit agreement to allocate the additional construction credit.
6. Term and Effective Date. The term of this Agreement shall be ten (10) years from
its Effective Date.
7. Assignment. 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-21-009 Page 3 of 20
Carter Park East Updated 2/23/2021
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
Carter Park East Land,LLC a Delaware
limited liability company
Dana Burghdoff(Jan 13,20 06:45 CST
by: Carter East Investor, LLC
Dana Burghdoff it's managing member
Assistant City Manager
Date: 1/13/23
Matthew E. Colter
Vice President
Recommended By:
DJ Harrell(Jan 12,2023 08:55 CST) City Contract Compliance Manager:
DJ Harrell
Director,Development Services By signing, I acknowledge that I am the
person responsible for the monitoring
and administration of this contract,
Approved as to Form and Legality: including ensuring all performance and
reporting requirements.
D$lack(Jan 12,2023 10:37 CST)
Douglas Black Mirian Sepncer
Assistant Cite Attorney Transportation Impact Fee Coordinator
M&C:None required Development Services Department
Form 1295: None required
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ATTEST: FORr�o���
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Jannette Goddall
City Secretary
OFFICIAL RECORD
CITY SECRETARY
FT.WORTH,TX
Transportation Impact Fee Credit Agreement—CA-21-009 Page 4 of 20
Carter Park East Updated 2/23/2021
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-21-009 Page 5 of 20
Carter Park East Updated 2/23/2021
Exhibit "A"
DESCRIPTION OF PROPERTY
PP-20-037
BEING a 539.0405 acre tract of land situated in the Shelby County School Land Survey, Tracts
3,4,11 and 12 - Abstract No. 1375, City of Fort Worth, Tarrant County, Texas, and being all of
Lot 1, Block 8R, Forbess Addition, and addition to the City of Fort Worth, Texas according to
the plat recorded in Instrument No. D212299693 of the Official Public Records of Tarrant
County, Texas, and being part of a tract of land described as "1st TRACT" in Deed to Ruth
Carter Johnson recorded in Volume 3587, Page 317 of the Deed Records of Tarrant County,
Texas, and being part of that tract of land described as "SECOND TRACT" in Special Warranty
Deed to Amon G. Carter Foundation recorded in Volume 8793, Page 1057 of said Deed
Records, as corrected by Second Correction Special Warranty Deed recorded in Instrument No.
D205244839 of the Official Public Records of Tarrant County, Texas, said tract being all of a
called 300.3879 acre tract of land described in Special Warranty Deed to Carter Park East
Land, LLC recorded in Instrument No. D220095202 of the Official Public Records of Tarrant
County, Texas, and being part of a called 255.5957 acre tract of land described in Special
Warranty Deed to Carter Park East Land, LLC recorded in Instrument No. D220095204 of the
Official Public Records, and being more particularly described as follows and being more
particularly described as follows:
BEGINNING at a 5/8-inch iron rod with plastic cap stamped "KHA" set in the south line of a tract
of land described in Deed to Texas Electric Service Company recorded in Volume 2911, Page
367 of said Deed Records, and being in the east right-of-way line of Oak Grove Road - County
Road No. 1023 (a variable width right-of-way);
THENCE departing the said east right-of-way line of Oak Grove Road - County Road No. 1023
and with said south line of the Texas Electric Service Company tract, North 89029'17" East, a
distance of 4697.27 feet to a 1/2-inch iron rod found for the northwest corner of Lot 1, Block 1,
Wichita Springs Addition, an addition to the City of Fort Worth, Texas according to the plat
recorded in Volume 388-175, Page 57 of said Plat Records;
THENCE departing the said south line of the Texas Electric Service Company tract, South
0029'43" East, a distance of 2527.00 feet to a 5/8-inch iron rod with plastic cap stamped "KHA"
set in the north line of said 1st TRACT, for the southwest corner of said Wichita Springs
Addition;
THENCE with the said north line of 1st TRACT, North 89'24'17" East, a distance of 412.55 feet
to a 5/8-inch iron rod with plastic cap stamped "KHA" set in the northwest right-of-way line of
Wichita Street (50-foot wide right-of-way), for the northeast corner of said 1st TRACT;
THENCE with the said northwest right-of-way line of Wichita Street, South 11 o53'49" West, a
distance of 1682.52 feet to a 5/8-inch iron rod with plastic cap stamped "KHA" set for corner;
THENCE departing the said northwest right-of-way line of Wichita Street, South 89019'50"
West, a distance of 1245.42 feet to a point for corner;
THENCE South 0038'27" East, a distance of 995.65 feet to a point for corner in the north right-
of-way line of Enon Road - County Road No. 1051 (a variable width right-of-way);
THENCE with Enon Road - County Road No. 1051, South 89°24'14" West, a distance of
3506.32 feet to a 5/8-inch iron rod with plastic cap stamped "KHA" set at the intersection of
Enon Road - County Road No. 1051 and said east right-of-way line of Oak Grove Road -
County Road No. 1023;
THENCE with the said east right-of-way line of Oak Grove Road - County Road No. 1023,
North 0'29'25" West, a distance of 5173.84 feet to the POINT OF BEGINNING and containing
539.0405 acres or 23,480,605 square feet of land, more or less.
FP-18-125
BEING a 29.9851 acre tract of land situated in the Elizabeth Teague Survey, Abstract No. 1544
and the J Jennings Survey, Abstract No. 875, City of Fort Worth, Tarrant County, Texas; said
tract being part of Block 7, Carter Industrial Park, an addition to the City of Fort Worth
according to the plat recorded in Volume 388-31, Page 52 of the Plat Records of Tarrant
County, Texas; said tract being more particularly described as follows:
BEGINNING at a 1/2-inch iron rod with "BRITTAIN & CRAWFORD" cap found in the east right-
of-way line of Oak Grove Road (an 80-foot wide right-of-way); said point being the northeast
corner of said Block 7;
THENCE South 0'29'25" East, along the said west line of Oak Grove Road, a distance of
2081.74 feet to a "+" cut found for corner;
THENCE South 89'27'10" West, departing the said west line of Oak Grove Road, a distance of
626.78 feet to a 5/8-inch iron rod with "CARTER & BURGESS" cap found for corner;
THENCE North 0°31'24" West, a distance of 2082.07 feet to a 5/8-inch iron rod with "JACOBS"
cap found for corner in the north line of said Block 7;
THENCE North 89°28'58" East, along the said north line of Block 7, a distance of 627.98 feet to
the POINT OF BEGINNING and containing 29.9851 acres or 1,306,152 square feet of land,
more or less.
EXHIBIT "B"
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Carter Park East Updated 2/23/2021
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Transportation Impact Fee Credit Agreement—[A-21-OO9 Page 12 of3O
ALTAMESA f ____� _ EXHIBIT IID11_ _
Carter Park East
. - �n�� n E �y *Eligible for Credit Against
Transportation Impact Fees
Right-of-Way Dedication
- T
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- Eligible Improvements Limits
Oak Grove Road ROW Dedication (FP-21-010)
° Oak Grove Road ROW Construction (City Project 101902)
■-` EVERMAN Oak Grove Road ROW Construction (City Project 102802)
Joel East Road ROW Dedication (FP-18-098)
_ Joel East Road ROW Construction (City Project 101903)
Transportation Impact Fee Credit Agreement-CA-21-009 Page 13 of 20
Carter Park East Updated 2/23/2021
EXHIBIT "E"
Carter Park East
Transportation Impact Fee Credit Overview
Value of ROW Dedication
Instrument# Plat Case# Eligible Arterial Value
D219130408 FP-18-098 Joel East Rd $ 226,298.00
D221089352 FP-21-010 Oak Grove Rd $ 54,579.00
Value of Capacity Completed
City Project# Plat Case# Eligible Arterial Value
101903 FP-18-098 Joel East Rd $ 2,671,568.40
Current Available Transportation Impact Fee Credit $ 2,952,445.40
Value of Capacity in Process
City Project# Plat Case# Eligible Arterial Value
101902 FP-18-125 Oak Grove Road $ 3,747,622.00
101902 City Participation Oak Grove Road $ (2,100,000.00)
102802 FP-20-021 Oak Grove Road $ 6,136,774.00
102802 City Participation Oak Grove Road $ (1,200,000.00)
* Credit for projects in process unavailable until projects complete
Total Anticipated Transportation Impact Fee Credit $ 9,536,841.40
Value of Existing Demand Number of Permits Collection Rate
FP-20-021 Building Permits 7 $ 557,018.90
Net Credit Available $ 2,395,426.50
Transportation Impact Fee Credit Agreement—CA-21-009 Page 14 of 20
Carter Park East Updated 2/23/2021
Joel East Road Right-of-way Calculation
Right-of-Way Valuation for Carter Park East
Valuation Method 1-Precentage of TIP Project Cost
Eligible Arterial Joel East Rd
2017 Transportation Improvements Plan Project X-5
Number
Estimated Construction Costs from 2017 $4,533,000
Transportation Improvements Plan
Value of Total Project Right-of-Way(20%of $906,600
Construction Cost)
Total Project Length(LF) 5,805
Arterial Cross-Section Width(LF) 80
Additional ROW needed for Roundabout(SF) 0
Total Project Right-of-Way(SF) 464,400
Right-of-Way Value Per Square Foot $1.96
Valuation Method 2-Precentage of Construction Cost
Eligible Arterial Joel East Rd
Construction Costs for CPN 101903 $2,671,568
Value of Total Project Right-of-Way(20%of $534,314
Total Project Length(LF) 5,295
Arterial Cross-Section Width(LF) 80
Additional ROW needed for Roundabout(SF) 0
Total Project Right-of-Way(SF) 423,600
Right-of-Way Value Per Square Foot $1.27
Valuation Method 3-TAD appraised value
TAD Value as of 1/15/2021 Joel East Rd
TAD Account 4700430 4700465
Total Area(SF) 6,660,746 1,167,844
Appraised Value $381,178.00 $124,024.00
Value per Square Foot $0.06 $0.11
Right-of-Way Dedication
Joel East Rd
Recording Instrument Number D219130408
Recording Date 6/18/2019
Total area of ROW dedicated 115,458 sq ft
Value per SF $1.96
Credit $226,297.68
Joel East Road ROW Credit Available $226,298.00
Transportation Impact Fee Credit Agreement—CA-21-009 Page 15 of 20
Carter Park East Updated 2/23/2021
Oak Grove Road Right-of-way Calculations
Right-of-Way Valuation for Carter Park East
Valuation Method 1-Precentage of TIP Project Cost
Eligible Arterial Oak Grove Rd
2017 Transportation Improvements Plan Project X-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
Construction 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 Per Square Foot $2.03
Valuation Method 2-Precentage of Construction Cost
Eligible Arterial Oak Grove Rd
Construction Costs for CPN 102802 $6,136,774
Value of Total Project Right-of-Way(20%of $1,227,355
Total Project Length(LF) 5,295
Arterial Cross-Section Width(LF) 110
Additional ROW needed for Roundabout(SF) 0
Total Project Right-of-Way(SF) 582,450
Right-of-Way Value Per Square Foot $2.11
Valuation Method 3-TAD appraised value
TAD Value as of 1/15/2021 Oak Grove Rd
TAD Account 4700430 4700465
Total Area(SF) 6,660,746 1,167,844
Appraised Value $381,178.00 $124,024.00
Value per Square Foot $0.06 $0.11
Right-of-Way Dedication
Oak Grove Rd
Recording Instrument Number D221089352
Recording Date 12/8/2020
Total area of ROW dedicated 25,867 sq ft
Value per SF $2.11
Credit $54,579.37
Oak Grove Road ROW Credit Available $54,579.00
Transportation Impact Fee Credit Agreement—CA-21-009 Page 16 of 20
Carter Park East Updated 2/23/2021
Joel East Road Construction Improvements
Capacity Provided by Joel East Road Improvements CPN 101903
Paving
Item Eligible Completed
Description Unit Unit Price
No. Quantity Quantity Credit Available
1 REMOVE ASPHALT PVMT SY 10,288 10,288 $ 8.00 $ 82,304.00
2 REMOVE FENCE LF 2,475 2,475 $ 3.00 $ 7,425.00
3 REMOVE 24"STORM LINE LF 66 66 $ 20.00 $ 1,320.00
4 VALVE BOX ADJUSTMENT EA 2 2 $ 500.00 $ 1,000.00
5 TRAFFIC CONTROL MO 5 5 $ 1,500.00 $ 7,500.00
6 8"CONC PVMT SY 15,732 15,732 $ 46.00 $ 723,672.00
7 7"CONC PVMT SY 1,509 1,509 $ 42.00 $ 63,378.00
8 2"ASPHALT PVMT TYPE D COB2 SY 929 929 $ 14.00 $ 13,006.00
9 4"ASPHALT BASE TYPE B COB2 SY 929 929 $ 24.00 $ 22,296.00
10 4"CONC SIDEWALK SF 58,022 58,022 $ 3.50 $ 203,077.00
11 8" LIME TREATMENT SY 17,430 17,430 $ 3.50 $ 61,005.00
12 COMMERCIAL LIME SLURRY TN 424 424 $ 190.00 $ 80,560.00
13 TOPSOIL CY 1,958 1,958 $ 20.00 $ 39,160.00
14 4"SLD PVMT MARKING HAS LF 10,799 10,799 $ 2.00 $ 21,598.00
15 8"SLD PVMT MARKING TAPE LF 261 261 $ 3.00 $ 783.00
16 8"SLID PVMT MARKING TAPE LF 140 140 $ 3.00 $ 420.00
17 LANE LEGEND ARROW EA 21 21 $ 450.00 $ 9,450.00
18 LANE LEGEND ONLY EA 3 3 $ 450.00 $ 1,350.00
19 REFL RAISED MARKER EA 174 174 $ 5.25 $ 913.50
20 UNCLASSIFIED EXCAVATION BY PLAN CY 4,126 4,126 $ 6.00 $ 24,756.00
21 SITE CLEARING LS 1 1 $ 15,000.00 $ 15,000.00
22 MOBILIZATION LS 1 1 $ 5,000.00 $ 5,000.00
Paving Subtotal $ 1,384,973.50
Storm Drain
Item Eligible Completed
No. Description Unit Quantity Quantity Unit Price Credit Available
1 4X3 BOX CULVERT LF 799 799 $185.00 $ 147,815.00
2 6'STORM JUNCTION BOX EA 2 2 $7,500.00 $ 15,000.00
3 10' RECESSED INLET EA 11 11 $3,600.00 $ 39,600.00
4 15' RECESSED INLET EA 2 2 $4,600.00 $ 9,200.00
5 20' RECESSED INLET EA 2 2 $5,600.00 $ 11,200.00
6 SET TYPE I FOR BOX CULVERTS CY 4 4 $2,750.00 $ 11,000.00
7 CONCRETE RIPRAP(6"THICK) SY 187 187 $75.00 $ 14,025.00
8 21" RCP CLASS III LF 449 449 $50.00 $ 22,450.00
9 MEDIUM STONE RIPRAP COB1 SY 122.7 122.7 $10S.00 $ 12,883.S0
10 CONCRETE ENCASEMENT FOR UTILITY PIPES CY 3 3 $200.00 $ 600.00
11 SWPPP>1 ACRE LS 1 1 $13,500.00 $ 13,500.00
12 42" RCP CLASS III LF 795 795 $120.00 $ 95,400.00
13 36" RCP CLASS III LF 1,741 1,741 $100.00 $ 174,100.00
14 4'STACKED MANHOLE LF 2 2 $2,500.00 $ 5,000.00
15 3X2 BOX CULVERT LF 464 464 $155.00 $ 71,920.00
16 4'STORM JUNCTION BOX LF 4 4 $4,500.00 $ 18,000.00
17 30" RCP CLASS III COB1 LF 108 108 $80.00 $ 8,640.00
18 30" PARALLEL HEADWALL 1 PIPE EA 1 1 $3,500.00 $ 3,500.00
19 60" RCP CLASS III COB1 LF 190 190 $380.00 $ 72,200.00
20 60"SET 1 PIPE COB1 EA 1 1 $6,500.00 $ 6,500.00
Storm Drain Subtotal $ 752,533.50
Transportation Impact Fee Credit Agreement-CA-21-009 Page 17 of 20
Carter Park East Updated 2/23/2021
Street Lights
Item1W Eligible Completed
Description Unit Unit Pric
No. Quantity Quantity Credit Available
1 LED LIGHTING FIXTURE EA 20 20 $1,000.00 $ 20,000.00
2 FURNISH/INSTALL 8'WOOD LIGHT POLE ARM EA 20 20 $1,200.00 $ 24,000.00
Street Lights Subtotal $ 44,000.00
Traffic Signal
Description Unit Eligible Completed Unit Price
Quantity Quantity Reclit Available
1 FURNISH/INSTALL ALUM SIGN MASE ARM EA 1 1 $800.00 $ 800.00
Traffic Signal Subtotal " 44,800.00
Paving Subtotal $ 1,384,973.50
Storm Drain Subtotal $ 752,533.50
Street Lights Subtotal $ 44,000.00
Traffic Signal Subtotal $ 44,800.00
CONSTRUCTION SUBTOTAL $ 2,226,307.00
Other Eligible Items
Descripti
Engineering,Surveying and Material Testing 20% of Paving&Storm Drain $ 445,261.40
Total Value of Capacity Provided $ 2,671,568.40
Transportation Impact Fee Credit Agreement—CA-21-009 Page 18 of 20
Carter Park East Updated 2/23/2021
Existing Demand (Building Permits in Review)
7 $2,395,426.S0
Street
Street Permit No. Final Plat Collection Rate Credit Available
No
7200 Harris Legacy PB21-03095 FP-20-021 $ 244,652.10 $2,150,774.40
7301 Harris Legacy PB21-03100 FP-20-021 $ 143,987.76 $2,006,786.64
1851 Joel East Rd P021-01759 FP-18-125 $ 168,379.04 $1,838,407.60
1851 Joel East Rd (NZ19-00124) PB19-03841 FP-18-125 $ - $1,838,407.60
1901 Joel East Rd (NZ19-00124) PB19-03842 FP-18-125 $ $1,838,407.60
1701 Joel East Rd (NZ19-00124) PB19-03843 FP-18-125 $ $1,838,407.60
1501 Joel East Rd (NZ19-00124) PB19-03844 FP-18-125 $ $1,838,407.60
FP-20-021 Available Credit $1,114,872.34
FP-18-125 Available Credit $1,280,554.16
Existing Demand $557,018.90
Transportation Impact Fee Credit Agreement—CA-21-009 Page 19 of 20
Carter Park East Updated 2/23/2021
EXHIBIT 'T'
ALLOCATION OF TRANSPORTATION IMPACT FEE CREDITS
FP-18-125 Shall receive 50% of the Transportation Impact Fee Credits for the
Dedication and Construction of Joel East Road ($1,448,993.20) on a first-come/
first-served basis
PP-20-037 Shall receive 50% of the Transportation Impact Fee Credits for the
Dedication and Construction of Joel East Road ($1,448,993.20), the Dedication
($54,579) and future construction of Oak Grove Road on a first-come/first-
served basis
Transportation Impact Fee Credit Agreement—CA-21-009 Page 20 of 20
Carter Park East Updated 2/23/2021