HomeMy WebLinkAboutContract 61562CSCO NO. 61562
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 GS Park Wellington Venture, 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
WHEREAS, the Owner is the owner of approximately 47.897 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, as amended,
under which transportation 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 Transportation 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 B; 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 construct the
transportation improvements shown on Exhibit "D" for which credits against transportation
impact fees shall be granted; and OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
Transportation Impact Fee Credit Agreement — CA-24-008
Wellington Multifamily
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WHEREAS, the Owner has received preliminary plat approval for Wellington, PP-14-
046, on 01/11/2023; and
WHEREAS, the Owner has dedicated 7,554 square feet of right-of-way for Willow
Springs Rd with FP-23-157, recorded as Instrument D224063015, on 4/12/2024; and
WHEREAS, the Owner has received approval for Willow Springs Road construction plans
(IPRC23-0119) on 02/27/2024, and executed a Community Facilities Agreement (CFA24-0020,
CSCO 60958), Wellington Multifamily, City Project Number 104924, on 02/17/2024.
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
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Wellington Multifamily
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(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. 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)
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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
bafia, gufvk 9
Dana Burghdoff (Ju 7, 2024'05:51 CDT)
Dana Burghdoff
Assistant City Manager
Date: Jun 17, 2024
Recommended By:
Dalton Harrell (Jun 14, 2024 15:39 CDT)
DJ Harrell
Director, Development Services
Approved as to Form and Legality:
Douglas Black (Jun 14, 202416:34 CDT)
Douglas Black
Assistant City Attorney
M&C: None required
Form 1295: None required
ATTEST:
c).41441,..,-.- A ...4.ampi.ts
Jannette Goodall
City Secretary
GS Park Wellington Venture, LLC
a Delaware limited liability company
By: JR Thulin
Vice President
JR Thulin
Vice President
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.
nifer Rol6erts (Jun 13, 202415:18 CDT)
Jennifer H. Roberts
Assistant Director, Development Services
Department
Transportation Impact Fee Credit Agreement — CA-24-008
Wellington Multifamily
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
Page 4 of 20
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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
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EXHIBIT A
Description of Property: Wellington, PP-14-046
WHEREAS GS PARKS WELLINGTON VENTURE, LLC IS THE SOLE OWNER OF A
TRACT OF LAND SITUATED IN THE JAMES RIGHLY SURVEY, ABSTRACT NO. 1268,
IN THE CITY OF FORT WORTH, TARRANT COUNTY, TEXAS, BEING ALL OF A
TRACT OF LAND DESCRIBED IN A DEED TO GS PARKS WELLINGTON VENTURE,
LLC, RECORDED IN INSTRUMENT No. D222293161, OFFICIAL PUBLIC RECORDS,
TARRANT COUNTY, TEXAS (O.P.R.T.C.T.), AND BEING MORE PARTICULARLY
DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING AT A 4" BRASS TxDOT MONUMENT FOUND BEING THE MOST
NORTHERLY NORTHEAST CORNER OF SAID GS PARKS WELLINGTON VENTURE
TRACT, BEING THE WEST END OF A RIGHT-OF-WAY CORNER CLIP AT THE
INTERSECTION OF THE SOUTHWEST RIGHT-OF-WAY LINE OF N.W. HIGHWAY 287
(A VARIABLE WIDTH RIGHT-OF-WAY), WITH THE WEST RIGHT-OF-WAY LINE OF
WILLOW SPRINGS ROAD (A VARIABLE WIDTH RIGHT-OF-WAY);
THENCE S 26°53'02" E, ALONG SAID RIGHT-OF-WAY CORNER CLIP, A DISTANCE OF
53.35 FEET TO A 1/2" IRON ROD SET WITH A CAP STAMPED "WIER & ASSOC INC",
BEING THE SOUTH END OF SAID CORNER CLIP AND THE NORTHWEST CORNER OF
A TRACT OF LAND DESCRIBED 1N A DEED TO THE CITY OF FORT WORTH,
RECORDED IN INSTRUMENT No. D216264849, O.P.R.T.C.T., AND CORRECTED IN
INSTRUMENT No. D216268691, O.P.R.T.C.T., FROM WHICH A 5/8" IRON ROD FOUND
WITH A CAP STAMPED "JACOBS" BEARS S 26°53'02" E, 81.47 FEET;
THENCE S O 1 ° 10'34" E, ALONG THE WEST RIGHT-OF-WAY LINE OF SAID WILLOW
SPRINGS ROAD AND THE WEST LINE OF SAID CITY OF FORT WORTH TRACT, A
DISTANCE OF 618.93 FEET TO A 1/2" IRON ROD SET WITH A CAP STAMPED "WIER &
ASSOC INC" IN THE NORTH LINE OF LOT 11X, BLOCK 16, WELLINGTON, AN
ADDITION TO THE CITY OF FORT WORTH, TARRANT COUNTY, TEXAS,
ACCORDING TO THE PLAT RECORDED IN INSTRUMENT No. D218025019,
O.P.R.T.C.T., SAID POINT BEING THE SOUTHWEST CORNER OF SAID CITY OF FORT
WORTH TRACT AND THE SOUTHEAST CORNER OF SAID GS PARKS WELLINGTON
VENTURE TRACT;
THENCE S 89°45'43" W, DEPARTING THE WEST RIGHT-OF-WAY LINE OF SAID
WILLOW SPRINGS ROAD, ALONG THE SOUTH LINE OF SAID GS PARKS
WELLINGTON VENTURE TRACT AND THE NORTH LINE OF SAID LOT 11X, AT A
DISTANCE OF 37.87 FEET, PASSING A 5/8" IRON ROD FOUND BEING THE
NORTHWEST CORNER OF SAID LOT 11X AND THE NORTHEAST CORNER OF LOT
10X, BLOCK 16, WELLINGTON, AN ADDITION TO THE CITY OF FORT WORTH,
TARRANT COUNTY, TEXAS, ACCORDING TO THE PLAT RECORDED IN
INSTRUMENT No. D218078838, O.P.R.T.C.T., CONTINUING ALONG THE NORTH LINE
OF SAID BLOCK 16, AT A DISTANCE OF 157.35 FEET, PASSING A POINT FROM
WHICH A 5/8" IRON ROD FOUND WITH A CAP STAMPED "JACOBS" BEARS N 55°19'
W, 0.4 FEET, SAID POINT BEING THE NORTHWEST CORNER OF LOT 22 OF SAID
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BLOCK 16 AND THE NORTHEAST CORNER OF LOT 23 OF SAID BLOCK 16,
CONTINUING ALONG A NORTH LINE OF SAID BLOCK 16, IN ALL A TOTAL
DISTANCE OF 471.16 FEET TO A POINT FROM WHICH A 5/8" IRON ROD FOUND
BEARS N 24°46' E, 0.5 FEET, SAID POINT BEING THE MOST SOUTHERLY
SOUTHWEST CORNER OF SAID GS PARKS WELLINGTON VENTURE TRACT, THE
MOST NORTHERLY NORTHWEST CORNER OF LOT 28 OF SAID BLOCK 16 AND THE
MOST EASTERLY SOUTHEAST CORNER OF LOT 42 OF SAID BLOCK 16;
THENCE N 00°29'38" W, ALONG A WEST LINE OF SAID GS PARKS WELLINGTON
VENTURE TRACT AND AN EAST LINE OF SAID BLOCK 16, A DISTANCE OF 245.76
FEET TO A POINT BEING AN ELL CORNER OF SAID GS PARKS WELLINGTON
VENTURE TRACT AND THE NORTHEAST CORNER OF LOT 43X OF SAID BLOCK 16;
THENCE N 53°05'50" W, ALONG A SOUTHWEST LINE OF SAID GS PARKS
WELLINGTON VENTURE TRACT AND A NORTHEAST LINE OF SAID BLOCK 16, AT A
DISTANCE OF 825.09 FEET, PASSING A 5/8" IRON ROD FOUND WITH A CAP
STAMPED "JACOBS" BEING THE NORTHWEST CORNER OF LOT 58 OF SAID BLOCK
16 AND THE NORTHEAST CORNER OF LOT 59 OF SAID BLOCK 16, CONTINUING IN
ALL A TOTAL DISTANCE OF 940.09 FEET TO A 5/8" IRON ROD FOUND WITH A CAP
STAMPED "LJA" BEING THE NORTH CORNER OF THE RIGHT-OF-WAY OF DABONE
DRIVE (A 60' WIDE RIGHT-OF-WAY);
THENCE S 36°54'10" W, ALONG THE NORTHWEST RIGHT-OF-WAY LINE OF SAID
DABORNE DRIVE AND A SOUTHWEST LINE OF SAID GS PARKS WELLINGTON
VENTURE TRACT, A DISTANCE OF 1.00 FEET TO A 5/8" IRON ROD FOUND WITH A
CAP STAMPED "LJA" BEING THE NORTHEAST CORNER OF LOT 1, BLOCK 32,
WELLINGTON, AN ADDITION TO THE CITY OF FORT WORTH, TARRANT COUNTY,
TEXAS, ACCORDING TO THE PLAT RECORDED 1N INSTRUMENT No. D220004522,
O.P.R.T.C.T.;
THENCE N 53°05'50" W, ALONG A SOUTHWEST LINE OF SAID GS PARKS
WELLINGTON VENTURE TRACT AND THE NORTHEAST LINE OF SAID LOT 1,
BLOCK 32, WELLINGTON ADDITION, AT A DISTANCE OF 112.00 FEET, PASSING THE
NORTHWEST CORNER OF SAID LOT 1 AND THE NORTHEAST CORNER OF LOT 1X
OF SAID BLOCK 32, CONTINUING IN ALL A TOTAL DISTANCE OF 964.45 FEET TO A
5/8" IRON ROD FOUND WITH A STAMPED "LJA", SAID IRON ROD BEING THE
BEGINNING OF A CURVE TO THE LEFT, FROM WHICH AN "X" CUT FOUND BEARS S
36°53'28" W, 9.00 FEET;
THENCE NORTHWESTERLY, AN ARC LENGTH OF 101.96 FEET ALONG THE
NORTHEAST LINE OF SAID LOT 1X, THE SOUTHWEST LINE OF SAID GS PARKS
WELLINGTON VENTURE TRACT AND SAID CURVE TO THE LEFT, HAVING A
RADIUS OF 234.00 FEET, A DELTA ANGLE OF 24°57'59", AND A CHORD BEARING OF
N 65°34'48" W, 101.16 FEET TO A 5/8" IRON ROD FOUND WITH A CAP STAMPED
"LJA";
THENCE N 78°03'46" W, ALONG THE NORTHEAST LINE OF SAID LOT 1X, A
Transportation Impact Fee Credit Agreement — CA-24-008
Wellington Multifamily
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DISTANCE OF 188.02 FEET TO A 5/8" IRON ROD FOUND WITH A CAP STAMPED
"LJA";
THENCE S 86°29'22" W, ALONG THE NORTH LINE OF SAID LOT 1X, AT A DISTANCE
OF 33.88 FEET, PASSING THE NORTHEAST CORNER OF LOT 40 OF SAID BLOCK 32
AND THE NORTHWEST CORNER OF SAID LOT 1X, AT A DISTANCE OF 145.88 FEET,
PASSING A 5/8" IRON ROD FOUND WITH A CAP STAMPED "LJA" BEING THE
NORTHWEST CORNER OF SAID LOT 40 AND THE NORTHEAST CORNER OF PENSON
STREET (A 50' WIDE RIGHT-OF-WAY), CONTINUING ALONG THE NORTH RIGHT-OF-
WAY LINE OF SAID PENSON STREET, AT A DISTANCE OF 484.95 FEET, PASSING A
5/8" IRON ROD FOUND WITH A CAP STAMPED "LJA" BEING THE NORTHEAST
CORNER OF LOT 42 OF SAID BLOCK 32 AND THE NORTHWEST CORNER OF THE
RIGHT-OF-WAY OF HULSON TRAIL (A 50' WIDE RIGHT-OF-WAY), CONTINUING
ALONG THE NORTH LINE OF SAID LOT 42, AT A DISTANCE OF 613.88 FEET,
PASSING A 5/8" IRON ROD FOUND WITH A CAP STAMPED "LJA" BEING THE
NORTHWEST CORNER OF SAID LOT 42 AND THE NORTHEAST CORNER OF LOT 2X
OF SAID BLOCK 32, CONTINUING ALONG THE NORTH LINE OF SAID LOT 2X, IN
ALL A TOTAL DISTANCE OF 615.88 FEET TO A POINT BEING THE NORTHWEST
CORNER OF SAID LOT 2X;
THENCE S 03°30'38" E, ALONG THE WEST LINE OF SAID LOT 2X, A DISTANCE OF
12.72 FEET TO A 1/2" IRON ROD SET WITH A CAP STAMPED "WIER & ASSOC INC" 1N
A SOUTH LINE OF SAID GS PARKS WELLINGTON VENTURE TRACT AND AN EAST
LINE OF A TRACT OF LAND DESCRIBED IN A DEED TO KNOX STREET PARTNERS
No. 13, LTD., RECORDED IN INSTRUMENT No. D215257356, O.P.R.T.C.T.;
THENCE S 89°40'32" W, DEPARTING THE WEST LINE OF SAID LOT 2X, ALONG A
SOUTH LINE OF SAID GS PARKS WELLINGTON VENTURE TRACT AND AN EAST
LINE OF SAID KNOX STREET PARTNERS No. 13 TRACT, A DISTANCE OF 49.49 FEET
TO A 5/8" IRON ROD BEING THE MOST WESTERLY SOUTHWEST CORNER OF SAID
GS PARKS WELLINGTON VENTURE TRACT AND AN ELL CORNER OF SAID KNOX
STREET PARTNERS No. 13 TRACT;
THENCE N 03°33'13" W, ALONG THE WEST LINE OF SAID GS PARKS WELLINGTON
VENTURE TRACT AND AN EAST LINE OF SAID KNOX STREET PARTNERS No. 13
TRACT, A DISTANCE OF 600.95 FEET TO A 5/8" IRON ROD FOUND WITH A CAP
STAMPED "JACOBS" IN THE SOUTH LINE OF A TRACT OF LAND DESCRIBED IN A
DEED TO REGAL CENTER, LLC, RECORDED IN INSTRUMENT No. D214265456,
O.P.R.T.C.T., SAID IRON ROD BEING THE NORTHWEST CORNER OF SAID GS PARKS
WELLINGTON VENTURE TRACT AND THE MOST NORTHERLY NORTHEAST
CORNER OF SAID KNOX STREET PARTNERS No. 13 TRACT;
THENCE ALONG THE NORTH LINE OF SAID GS PARKS WELLINGTON VENTURE
TRACT AND THE SOUTH LINE OF SAID REGAL CENTER TRACT AS FOLLOWS:
(1) N 89°40'32" E, A DISTANCE OF 357.56 FEET TO A 5/8" IRON ROD FOUND;
Transportation Impact Fee Credit Agreement — CA-24-008
Wellington Multifamily
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(2) N 40°55'33" E, A DISTANCE OF 25.20 FEET TO A 1/2" IRON ROD SET WITH A CAP
STAMPED "WIER & ASSOC INC";
(3) N 89°15'33" E, A DISTANCE OF 725.03 FEET TO A 4" BRASS TxDOT MONUMENT
FOUND IN THE SOUTHWEST RIGHT-OF-WAY LINE OF SAID N.W. HIGHWAY 287,
SAID MONUMENT BEING THE SOUTHEAST CORNER OF A TRACT OF LAND
DESCRIBED AS SIGN PROPERTY IN EXHIBIT "E" IN A DEED TO DBE REALTY
INVESTMENTS, LTD. RECORDED IN VOLUME 16417, PAGE 167, DEED RECORDS,
TARRANT COUNTY, TEXAS (D.R.T.C.T.) AND THE NORTH CORNER OF SAID GS
PARKS WELLINGTON VENTURE TRACT;
THENCE S 53°05'13" E, ALONG THE SOUTHWEST RIGHT-OF-WAY LINE OF SAID
N.W. HIGHWAY 287 AND THE NORTHEAST LINE OF SAID GS PARKS WELLINGTON
VENTURE TRACT, A DISTANCE OF 2298.47 FEET TO THE PLACE OF BEGINNING
AND CONTAINING 47.897 ACRES (2,086,375 SQUARE FEET) OF LAND, MORE OR
LESS.
Transportation Impact Fee Credit Agreement — CA-24-008
Wellington Multifamily
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SAGINAW BLVD.
EXHIBIT B
Map of Property: Wellington Lots 1 & 2 Final Plat, FP-23-157
PRAIRIE (RIDGE
COMANCHE MOON,
a
m PURPLE SAGE
BLUE MOUND WEST
433
SITE
SEBRIGHT TRAIL
VICINITY MAP
Transportation Impact Fee Credit Agreement — CA-24-008
Wellington Multifamily
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Page 10 of 20
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EXHIBIT C
Development Plan: Wellington Lots 1 & 2 Final Plat, FP-23-157
N1035•.LIY
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1 1 K �, I
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yl9 /�-,rt I
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Wellington Multifamily
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Page 11 of 20
6/13/2024
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Transportation Impact Fee Credit Agreement — CA-24-008
Wellington Multifamily
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Page 12 of 20
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Transportation Impact Fee Credit Agreement — CA-24-008
Wellington Multifamily
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Page 13 of 20
6/13/2024
I
EXHIBIT D
Eligible Transportation Improvements
EXHIBIT D
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Wellington Multifmmily
'F""`Eligible for Credit Against
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Transportation Impact Fees
1111111111111110 Right -of -Way
7 Dedication & Construction
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Eligible Improvements Limits
Willow Springs Rd ROW Dedication (FP-23-157)-Completed
Willow Springs Rd Construction (CPN 104924) +
Transportation Impact Fee Credit Agreement — CA-24-008 Page 14 of 20
Wellington Multifamily 6/13/2024
EXHIBIT E
Credits Against Transportation Impact Fees
Wellington Multifamily
Transportation Impact Fee Credit Overview
Value of ROW Dedication
Instrument # Final Plat # Eligible Arterial Value
D224063015 FP-23-157 Willow Springs Rd $83,773.86
Total ROW Transportation Impact Fee Credit $83,773.86
TrIF Eligible Community Facilities Agreement Construction
City Secretary # CFA # Eligible Arterial Value
60958 CFA24-0020 Willow Springs Rd $6,094,182.32
CPN 104924
75% of TrIF eligible CFA value $4,570,636.74
Engineering, Surveying and Material
Testing 20% of eligible construction $1,218,836.46
cost
Total Transportation Impact Fee Credit $5,873,247.06
Transportation Impact Fee Credit Agreement — CA-24-008 Page 15 of 20
Wellington Multifamily 6/13/2024
Right -of -Way Valuation for Wellington Multifamily
Valuation Method 1 - Percentage of TIP Project Cost
Eligible Arterial
Willow Springs Rd
2022 Transportation Improvements Plan Project Number
B-21
Estimated Construction Costs from 2022 Transportation
$1,741,000
Improvements Plan
Value of Total Project Right -of -Way (20% of Construction Cost)
$348,200
Total Project Length (LF)
975
Arterial Cross -Section Width (LF)
110
Additional ROW needed for Roundabout (SF)
$0
Total Project Right -of -Way (SF)
107250
Right -of -Way Value Per Square Foot
$3.25
Valuation Method 2 - Percentage of Construction Project Cost
Eligible Arterial Willow Springs Rd
City Project Number 104924
Final Construction Costs from Notice of Completion (Green Sheet)
$6,094,182.32
Value of Total Project Right -of -Way (20% of Construction Cost)
$1,218,836
Total Project Length (LF)
1000
Arterial Cross -Section Width (LF)
110
Additional ROW needed for Roundabout (SF)
0
Total Project Right -of -Way (SF)
110,000
Right -of -Way Value Per Square Foot
$11.09
Valuation Method 3 - TAD appraised value
TAD Value as of 08/9/2023
Willow Springs Rd
TAD Account
42468793
Total Area (SF)
17,119
Appraised Value
$2,945,544.00
Value per Square Foot
$1.00
Right -of -Way Dedication
Willow Springs Rd
Recording Instrument Number
D224063015
Final Plat Number
FP-23-157
Recording Date
4/12/2024
Total area of ROW dedicated (SF)
7,554
Value per SF
$11.09
ROW Credit Available
$83,773.86
Transportation Impact Fee Credit Agreement — CA-24-008 Page 16 of 20
Wellington Multifamily 6/13/2024
Item
Description
Unit
Eligible
Completed
Unit Price
Credit
No.
�
Quantity
Q Y
Quantity
Q Y
Available
I
REMOVE SIDEWALK
SF
1,474
1,474
$0.72
$1,061.28
2
REMOVE FENCE
LF
140
140
$2.00
$280.00
3
REMOVE CONC PVMT
SY
338
338
$0.75
$253.50
4
REMOVE ASPHALT PVMT
SY
2,677
2,677
$0.75
$2,007.75
5
REMOVE CONC CURB & GUTTER
LF
96
96
$9.00
$864.00
6
SITE CLEARING
LS
1
1
$122,650.00
$122,650.00
7
EMBANKMENT BY PLAN
CY
150,402
150,402
$2.90
$436,165.80
8
8" LIME TREATMENT
SY
5,546
5,546
$5.50
$30,503.00
9
2" ASPHALT PVMT TYPE D
SY
267
267
$25.00
$6,675.00
10
6" ASPHALT BASE TYPE B
SY
267
267
$65.00
$17,355.00
11
8" CONC PVMT
SY
2,800
2,800
$105.00
$294,000.00
12
10" CONC PVMT
SY
2,746
2,746
$114.00
$313,044.00
13
4" CONC SIDEWALK
SF
5,142
5,142
$7.52
$38,667.84
14
BARRIER FREE RAMP, TYPE P-1
EA
10
10
$2,574.00
$25,740.00
15
6" SLD PVMT MARKING HAS (W)
LF
477
477
$4.00
$1,908.00
16
6" SLD PVMT MARKING HAS (Y)
LF
906
906
$4.00
$3,624.00
17
12" SLD PVMT MARKING HAE (W)
LF
99
99
$8.00
$792.00
18
18" SLD PVMT MARKING HAE (W)
LF
431
431
$12.00
$5,172.00
19
PREFORMED THERMOPLASTIC
LF
18
18
$550.00
$9,900.00
CONTRAST MARKINGS - 24" STOP
BARS
20
PREFORMED THERMOPLASTIC
EA
1
1
$550.00
$550.00
CONTRAST MARKINGS - LEGEND
SINGLE
21
REFL RAISED MARKER TY II -A -A
EA
17
17
$20.00
$340.00
22
REFL RAISED MARKER TY II-C-R
EA
4
4
$20.00
$80.00
23
TOPSOIL
CY
853
853
$35.00
$29,855.00
24
BLOCK SOD PLACEMENT
SY
5,116
5,116
$5.00
$25,580.00
25
STAMPED AND COLORED RAISED
EA
2
2
$5,000.00
$10,000.00
SIDEWALK
26
EMERGENCY USE ONLY SWING
EA
2
2
$7,500.00
$15,000.00
GATE WITH KNOX BOX
Paving Subtotal
$1,392,068.17
Storm Drain
Item
No.
Description
mi
Unit
Eligible
Quantity
Q Y
Completed
Quantity
Q Y
Unit Price
Credit
Available
1
REMOVE RIP RAP
SF
12,733
12,733
$1.90
$24,192.70
2
REMOVE MISC CONC STRUCTURE
LS
1
1
$2,500.00
$2,500.00
3
REMOVE 4' SEWER MANHOLE
EA
1
1
$2,375.00
$2,375.00
4
REMOVE 21" STORM LINE
LF
55
55
$152.95
$8,412.25
5
REMOVE 24" STORM LINE
LF
35
35
$152.95
$5,353.25
6
REMOVE 36" STORM LINE
LF
130
130
$152.95
$19,883.50
7
REMOVE 48" STORM LINE
LF
68
68
$152.95
$10,400.60
8
REMOVE 15' CURB INLET
EA
1
1
$1,425.00
$1,425.00
Transportation Impact Fee Credit Agreement
- CA-24-008
Page 17 of 20
Wellington Multifamily
6/13/2024
9
REMOVE HEADWALL/SET
EA
5
5
$3,059.00
$15,295.00
10
CONCRETE RIPRAP
SY
234
234
$35.00
$8,190.00
11
TRENCH SAFETY
LF
6,316
6,316
$0.95
$6,000.20
12
MISCELLANEOUS STRUCTURE
EA
1
1
$1,425.00
$1,425.00
ADJUSTMENT
13
18" RCP, CLASS III
LF
24
24
$85.50
$2,052.00
14
21" RCP, CLASS III
LF
167
167
$99.75
$16,658.25
15
24" RCP, CLASS III
LF
257
257
$118.75
$30,518.75
16
36" RCP, CLASS III
LF
26
26
$194.75
$5,063.50
17
48" RCP, CLASS III
LF
1,092
1,092
$291.65
$318,481.80
18
48" RCP, CLASS IV
LF
801
801
$460.75
$369,060.75
19
54" RCP, CLASS III
LF
619
619
$418.00
$258,742.00
20
6X5 BOX CULVERT
LF
547
547
$712.50
$389,737.50
21
6X6 BOX CULVERT
LF
285
285
$788.50
$224,722.50
22
7X4 BOX CULVERT
LF
136
136
$798.00
$108,528.00
23
7X5 BOX CULVERT
LF
1,044
1,044
$855.00
$892,620.00
24
7X7 BOX CULVERT
LF
358
358
$855.00
$306,090.00
25
8X4 BOX CULVERT
LF
696
696
$902.50
$628,140.00
26
8X5 BOX CULVERT
LF
37
37
$950.00
$35,150.00
27
6' STORM JUNCTION BOX
EA
5
5
$8,835.00
$44,175.00
28
8' STORM JUNCTION BOX
EA
1
1
$14,012.50
$14,012.50
29
4' STACKED MANHOLE
EA
13
13
$6,935.00
$90,155.00
30
10' CURB INLET
EA
6
6
$7,600.00
$45,600.00
31
15' TYPE 2 INLET
EA
1
1
$9,025.00
$9,025.00
32
HEADWALL, BOX CULVERT
CY
61
61
$8,075.00
$490,960.00
33
36" SET, 1 PIPE
EA
1
1
$11,970.00
$11,970.00
34
CONCRETE FLUME UNDER
EA
1
1
$2,500.00
$2,500.00
SIDEWALK
35
ROUND MANHOLE ACCESS GRATE
EA
7
7
$1,100.00
$7,700.00
36
4" THICK CONCRETE FLUME
EA
172
172
$265.00
$45,580.00
Storm Drain Subtotal
$4,452,695.05
Transportation Impact Fee Credit Agreement — CA-24-008 Page 18 of 20
Wellington Multifamily 6/13/2024
Street Light Improvements
Item Description Unit Quantity Eligible Unit Price Credit
No. Quantity Available
I
FURNISH/INSTALL CONDUIT-
LF
1147
1,147
$38.30
$43,930.10
SCHEDULE 80 PVC 2 INCH OPEN CUT
2
FURNISH/INSTALL GROUND BOX
EA
5
5
$1,087.00
$5,435.00
TYPE B, W/APRON
3
FURNISH/INSTALL 120-240 VOLT
EA
1
1
$7,810.00
$7,810.00
SINGLE PHASE METERED PEDESTAL
4
FURNISH/INSTALL 10' - 14'
EA
8
8
$6,160.00
$49,280.00
WASHINGTON STANDARD LIGHT
POLE &
5
RDWY ILLUM FOUNDATION TY 7
EA
8
8
$3,229.00
$25,832.00
6
FURNISH/INSTALL 8' WOOD LIGHT
EA
12
12
$3,905.00
$46,860.00
POLE ARM
7
FURNISH/INSTALL ALUM SIGN
EA
9
9
$750.00
$6,750.00
GROUND MOUNT TXDOT STD.
8
REMOVE AND REINSTALL SIGN
EA
6
6
$500.00
$3,000.00
PANEL AND POST
9
TRAFFIC CONTROL
M
6
6
$2,300.00
$13,800.00
10
PORTABLE MESSAGE SIGN
WK
6
6
$1,650.00
$9,900.00
I I
TRAFFIC CONTROL DETAILS
EA
1
1
$25,000.00
$25,000.00
12
ARTERIAL WOOD POLE
EA
1
1
$3,410.00
$3,410.00
13
LUMINAIRE FOR ARTERIAL WOOD
EA
12
12
$701.00
$8,412.00
POLE ARM
Street Lights Subtotal
$249,419.10
Paving Subtotal
$1,392,068.17
Storm Drain Subtotal
$4,452,695.05
Street Lights Subtotal
$249,419.10
CONSTRUCTION SUBTOTAL
$6,094,182.32
Transportation Impact Fee Credit Agreement — CA-24-008 Page 19 of 20
Wellington Multifamily 6/13/2024
EXHIBIT F
Allocation of Credits
Credit shall be allocated on a first -come, first -served basis to building permits within the Final
Plat boundary of Wellington Final Plat FP-23-157
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Transportation Impact Fee Credit Agreement — CA-24-008 Page 20 of 20
Wellington Multifamily 6/13/2024