HomeMy WebLinkAboutContract 59971CSCO NO. 59971
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 PRIIVHLCI Wichita Street, LP, an entity 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 83.585 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 here to 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, funding 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, a portion of Wichita Street, specifically from 340 ft. north of Alta Mesa Blvd
to 960 ft. south of Joel East Road, lies wholly within service area X ("Fort Worth Segment"). The
Fort Worth Segment is shown in Exhibit "D" attached hereto, is identified on all relevant Fort
Worth plans and is eligible for improvement under the Fort Worth transportation impact fee
program; and
WHEREAS, Owner has agreed to provide the Owner's Contribution (hereinafter defined)
to fund a portion of 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-23-001 CITY SECRETARY page 1 of 12
Wichita Industrial FT. WORTH, Tx
WH REAS, the Owner has received preliminary plat approval for Wichita Industrial Park,
case number PP-22-002 as it relates to the Property; and
WHEREAS, The cities of Forest Hill, Everman and Fort Worth, together with Tarrant
County are jointly participating in the Wichita Street Widening project ("Wichita Street Project"), an
approximately $14,000,000 construction project to widen and improve Wichita Street due to growth
in the area which is to be let and delivered by Forest Hill; and
WHEREAS, Owner has agreed to contribute funding for a portion of the Wichita Street
Project the amount of $2,390,000.00 ("Owner's Contribution") by providing said funds directly to the
City of Forest Hill pursuant to that certain Facilities Development Agreement, as amended, recorded
by the City Secretary of Forest Hill by document # 2023-01FHWICHITA. and
WHEREAS, the City of Fort Worth and the City of Forest Hill have entered into that certain
Interlocal Agreement which specifies the respective cities' cost participation obligations in the Wichita
Street Project, including that the Owner's Contribution be programmed toward the Fort Worth
Segment; and
WHEREAS, The Owner will receive Impact Fee Credit from Fort Worth up to $2,390,000.00
for its funding the construction of a portion of the Fort Worth Segment - which generally consists of
3 new lanes of Wichita Street (X-18 & X-19) and 2 traffic signals (at Alta Mesa Blvd. and at Joel East
Rd.) by payment of the Owner's Contribution to Forest Hill as described herein.
WHEREAS, The Owner has dedicated 71,121 square feet of right-of-way for the eligible
thoroughfare Alta Mesa Blvd, with the recording of FP-22-164 on May 19, 2023 by instrument
D222178307D.R.T.C.T; and
WHEREAS, The Owner has funded an at -grade railroad crossing study in the amount of
$50,000 adopted by the City by M&C 23-0277; 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, are incorporated herein and form the basis upon which the Parties negotiated and
entered into this Agreement.
2. Transportation Improvements. Owner agrees to pay the Owner's Contribution, as
provided herein, to be used toward construction of the Fort Worth Segment of the Wichita Street
Project.
3. Credits. The Parties agree that the estimated value of the credits, expressed in current
dollars, shall be as set forth in Exhibit "E". The net value of credits shown on Exhibit "E" shall be
considered as exact. The Parties anticipate that this Agreement will be amended to provide credits for
right -of way dedication and construction by Owner or Owner's designee for system improvements
within the Development Plan, as well as the railroad track at -grade study funded by Owner.
4. INTENTIONALLY DELETED
Transportation Impact Fee Credit Agreement - CA-23-001 Page 2 of 12
Wichita Industrial
5. Allocation of Credits. The general allocation of credits to any such phases of the
Property's 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 Owner's Contribution has been received by the City of Forest Hill. 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) 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. The term shall commence upon receipt of proof of final payment of the Owner's
Contribution to the City of Forest Hill.
7. Assignment. Owner shall not have the right to assign this Agreement to any person
or entity ("Owner's Assignee") unless Owner has obtained advance written consent of the City. Any
assignment shall: (a) be in writing executed by the Owner and its assignee; and (b) incorporate this
Agreement by reference and bind 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 funding the Owner's Contribution hereunder
for use outside the boundaries of the Property.
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-23-001 Page 3 of 12
Wichita Industrial
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
bola �h6A(
Dana Burghdoff (Aug 202312:2`3 CDT)
Dana Burghdoff
Assistant City Manager
Date: Aug 23, 2023
Recommended By:
DJ Harrell (Aug 18, 2023 11:46 CDT)
DJ Harrell
Director, Development Services
Approved as to Form and Legality:
1
DBlack (Aug 22, 2023 22:54 CDT)
Douglas Black
Sr. Assistant City Attorney
M&C: None required
Form 1295: None required
ATTEST:
Jannette Goodall
City Secretary
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OWNER
PRIII/HLCI Wichita Street, LP
a Delaware limited partnership
By: PR III/HLCI Wichita Street GP LLC, a
Delaware limited liability company, its sole
general partner
By: PR III/HLCI Wichita Street Holdings LP, a
Delaware limited partnership,
its sole member and manager
By: HLCI Wichita Partners, L.P., a Texas limited
partnership, its authorized limited partner
By:: Wichita Partners GP Series, a series of HLCI
Investments Series II, LLC, a Texas series limited
liability company, its general partner
7�eam /„��
BY: Doug Lu41f (Aug 16, 2023 18:51 CDT)
Name:: Douglas Lueders
It's: Authorized Signatory
City Contract Compliance Manager:
By signing, I acknowledge that I am the person
responsible for the monitoring and
administration of this contract, including
ensuring all performance and reporting
requirements.
ARIfifer 16, 2023 16:21 CDT)
Jennifer2023 16:21 CDT)
Roberts
Assistant Director, Development Coordination
Development Services Department
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
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Wichita Industrial
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-23-001 Page 5 of 12
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EXHIBIT A
Description of Property
PROPERTY DESCRIPTION
BEING a tract of land situated in Blocks 13, 14 and 15, Shelby County School Land, Abstract No. 1375,
City of Fort Worth, Tarrant County, Texas and being a part of that certain tract of land described by deed
to Garrett Family Partners, Ltd., recorded in Volume 12505, Page 253, Deed Records, Tarrant County,
Texas, said tract of land being more particularly described by metes and bounds as follows:
BEGINNING at a 5/8" Iron rod with yellow cap stamped "DUNAWAY ASSOC. LP" (hereinafter called 5/8"
YCIR) set in the west line of that certain tract of land described by deed to Texas Electric Service
Company (hereinafter called TESCO), recorded in Volume 1654, Page 237, Deed Records, Tarrant
County, Texas, and being the southeast corner of Lot 1, Block 1, Wichita - 20 Business Park, an Addition
to the City of Fort Worth, according to the plat recorded in Volume 388-136, Page 23, Plat Records,
Tarrant County, Texas;
THENCE South 11°53'10" West (deed calls South 11°55'03" West), with the west line of said TESCO tract,
a distance of 839.34 feet (deed calls 839.44 feet) to a point for the northeast corner of that certain tract
of land described by deed to Metropolitan Resources, Inc., recorded in Volume 10782, Page 82, Deed
Records, Tarrant County, Texas, beginning of a non -tangent curve to the right, having a central angle of
18°21'44", a radius of 771.95 feet and a chord bearing and distance of North 87°15'37" West - 246.34
feet, from which a 1/2" iron rod with yellow cap stamped "RPLS 1074" found bears North 89°49'08"
East, a distance of 0.40 feet;
THENCE departing the west line of said TESCO tract, with the northerly line of said Metropolitan
Resources, Inc., tract, the following courses and distances;
With said non -tangent curve to the right in a northwesterly direction, an arc length of 247.40 feet
(deed calls 247.44 feet), to a 5/8" YCIR set;
North 78°04'45" West (deed calls North 78°04'00" West), a distance of 280.63 feet to a 5/8" YCIR set
for the beginning of a curve to the left, having a central angle of 57°12'48", a radius of 1,189.65 feet
and a chord bearing and distance of South 73°18'50" West - 1,139.20 feet from which a 1/2" iron
rod found bears North 12°04'34" East, a distance of 99.84 feet;
With said curve to the left in a northwesterly direction, a passing arc length of 440.44, a 1/2" iron
rod with yellow cap stamped "RPLS 1674" found, a passing arc length of 893.49 feet to a 1/2" iron
rod with yellow cap stamped "RPLS 1674" found, a total arc length of 1187.94 feet (deed calls 1,275
feet) to a 1/2" iron rod found;
South 44°42'25" West (deed calls South 44°43'10" West), a distance of 810.94 feet to a 5/8" YCIR set
for the beginning of a curve to the right, having a central angle of 07°00'17", a radius of 682.55 feet
and a chord bearing and distance of South 48°12'33" West - 83.39 feet;
With said curve to the right, in a southwesterly direction, an arc length of 83.45 feet to a 5/8" YCIR
set in the easterly line of that certain tract of land described by deed to Texas Electric Service
Transportation Impact Fee Credit Agreement - CA-23-001 Page 6 of 12
Wichita Industrial
Company, recorded in Volume 2575, Page 545, Deed Records, Tarrant County, Texas, from which a
broken concrete monument bears South 28°05'24" East, a distance of 73.18 feet;
THENCE North 28°24'24" West (deed calls N28°25'00" W), departing the northerly line of said
Metropolitan Resources, Inc., tract, with the easterly line of said TESCO tract, a distance of 989.58 feet
(deed calls 989.75 feet) to a 1/2" iron rod with yellow cap stamped "BRITTAIN & CRAWFORD" found for
the south corner of Lot 1, Block A-R, Rolling Hills Water Treatment Plant, an Addition to the City of Fort
Worth, according to the plat recorded in County Clerk's Document Number D205172131, Plat Records,
Tarrant County, Texas;
THENCE North 27°35'38" East, departing the easterly line of said TESCO tract, with the easterly line of
said Lot 1, Block A-R, Rolling Hills Water Treatment Plant, a distance of 1,382.64 feet (deed calls
1,382.97 feet) to a City of Fort Worth brass disk in concrete stamped No. 5943 in concrete;
THENCE North 27°35'26" East, continuing with the easterly line of said Lot 1, Block A-R, Rolling Hills
Water Treatment Plant, distance of 660.42 feet (deed calls 660.40 feet) to a 5/8" pipe found for the
southwest corner of Lot 9, said Block 1, Wichita - 20 Business Park from which a brass disk in concrete
found bears North 27°40'53" East, a distance of 660.07 feet;
THENCE South 62°24'11" East, departing the easterly line of said Lot 1, Block A-R, Rolling Hills Water
Treatment Plant, with the southerly line of said Block 1, Wichita - 20 Business Park, a distance of 636.28
feet to a 5/8" YCIR set for the northwesterly corner of that certain tract of land described by deed to RT
Wichita Series, LLC, recorded in County Clerk's Document Number D217133580, Deed Records, Tarrant
County, Texas;
THENCE with the south line of said RT Wichita Series, LLC., tract, the following courses and distances;
South 27°33'09" West, with the south line of said RT Wichita Series, LLC., tract, a distance of 10.99
feet to a 5/8" YCIR set;
South 46°12'05" East, a distance of 291.89 feet to a 5/8" YCIR set;
South 62°24'11" East, a distance of 32.25 feet to a 5/8" YCIR set in the west line of Lot 5-R-1-A, Block
1, Wichita - 20 Business Park, an Addition to the City of Fort Worth according to the plat recorded in
Cabinet B, Slide 231, Plat Records, Tarrant County, Texas from which a found 3/4" pipe bears North
27°38'34" East, a distance of 92.43 feet;
THENCE South 27°38'34" West, with the west line of said Lot 5-R-1-A, Block 1, Wichita - 20 Business Park
distance of 212.37 feet to a 5/8" iron rod with yellow cap stamped "DUNAWAY ASSOCIATES" found for
the southwest corner of said Lot 5-R-1-A, Block 1, Wichita - 20 Business Park;
THENCE South 78°08'21" East, departing the west line of said Lot 5-R-1-A, Block 1, Wichita - 20 Business
Park, with the southerly line of said Block 1, Wichita - 20 Business Park, a distance of 1,269.42 feet to
the POINT OF BEGINNING and containing a calculated area of 3,640,971 square feet or 83.585 acres of
land.
Transportation Impact Fee Credit Agreement - CA-23-001 Page 7 of 12
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EXHIBIT B
Map of Property
VICINITY MAP
NOT TO SCALE
Transportation Impact Fee Credit Agreement - CA-23-001 Page 8 of 12
Wichita Industrial
77:
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Pretimim" Plat of
WICHITA INDUSTRIAL PARK
s
EXHIBIT D
Transportation Improvements
-D
3E-
Transportation Impact Fee Credit Agreement - CA-23-001 Page 10 of 12
Wichita Industrial
EXHIBIT E
Credits Against Transportation Impact Fees
Wichita Industrial Park
Transportation Impact Fee Credit Overview
Value of ROW Dedication
Instrument # Plat Case # Eligible Arterial Value
D222178307 FP-22-164 E Alta Mesa $ 349,204.11
Value of Capacity Provided
Item Description M&C # Eligible Arterial Value
Facilities Development Agreement Wichita $2,390,000.00
Rail Study M&C23-0277 E Alta Mesa $50,000.00
Total Transportation Impact Fee Credit $ 2,789,204.11 I
Va I ue of Exi sti ng Dema nd
Building Permits in review $ -
Net Credit Available $ 2,789,204.11
Transportation Impact Fee Credit Agreement - CA-23-001 Page 11 of 12
Wichita Industrial
EXHIBIT F
Allocation of Credits
Credits will be allocated on a first come, first serve within the boundary of the 3/1 /2023 approved
preliminary plat PP-22-002
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Transportation Impact Fee Credit Agreement - CA-23-001 Page 12 of 12
Wichita Industrial