HomeMy WebLinkAboutContract 61640CSCO NO. ____________________
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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 North Presidio LLC, a State of Texas 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 89.2599 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 C; 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
WHEREAS, the Owner has received preliminary plat approval for Citadel at Presidio, PP-
17-047, on 01/23/2018; and
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WHEREAS, the Owner has dedicated 23,400 square feet of right-of-way for Heritage
Trace Parkway with FP-18-012, recorded as Instrument D219009096, on 12/28/2018; and
WHEREAS, the Owner has received approval for construction plans (IPRC19-0053) on
06/12/2019, and executed a Community Facilities Agreement (CFA18-0060, CSCO 51422), on
10/20/2018, and obtained final acceptance by the City for Heritage Trace Parkway, City Project
Number 101586, on 05/27/2020.
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 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
(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
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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
_______________________________
Dana Burghdoff
Assistant City Manager
Date:
Recommended By:
DJ Harrell
Director, Development Services
Approved as to Form and Legality:
Douglas Black
Assistant City Attorney
M&C: None required
Form 1295: None required
ATTEST:
Jannette Goodall
City Secretary
OWNER
North Presidio LLC
a State of Texas Company
By: Artemio De La Vega
Manager
Artemio De La Vega
Manager
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.
Jennifer H. Roberts
Assistant Director, Development Services
Department
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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: Citadel at Presidio FP-18-012
WHEREAS Add Northtowne, LLC and North Presidio, LLC are the owners of an 89.2599 acre
tract of land situated in the William Mccowen Survey, Abstract No. 999. City of Fort Worth.
Tarrant County. Texas; said tract being part of Tract I and all of Tract II and Tract Ill described
in Special Warranty Deed to North Presidio, LLC recorded in Instrument No. D216079375 and
corrected in Instrument No. D216177083 of the Official Public Records of Tarrant County
Texas, said tract also being all of those tracts of land described in Warranty Deed to Add
Northtowne, LLC recorded in Instrument No. D218258315 of said Official Public Records, said
tract being more particularly described as follows:
BEGINNING at a capped 5/8" iron rod found marked "CATER AND BURGESS" found in the
west right-of-way line of North Freeway (Interstate Highway No. 35-W) (a variable width right-
of-way); said point being the southeast corner of said Tract I and the northeast corner of Lot 2R1,
Block C, The Presidio, an addition to the City of Fort Worth according to the plat recorded in
Cabinet A, Slide 12792 of the Plat Records of Tarrant County. Texas;
THENCE, South 89°00'11" West, along the south line of said Tract I, a distance of 1,323.36 feet
to a 5/8-inch iron rod with "CARTER & BURGESS" cap found for corner;
THENCE, along the west line of said Tract I, the following eight (8) calls:
North 60°44'19" West. a distance of 74.00 feet to a 5/8-inch iron rod with "KHA" cap set for
corner;
North 24°13'16" West, a distance of 430.67 feet to a 5/8-inch iron rod with "KHA" cap set for
corner;
North 13°05'27" West, a distance of 405.62 feet to a 5/8-inch iron rod with "KHA" cap set for
corner;
North 9°59'04" West, a distance of 211.92 feet to a 5/8-inch iron rod found for corner;
South 72°58'49" East, a distance of 90.06 feet to a capped 5/8" iron rod found marked "CATER
AND BURGESS" for corner;
North 0°34'15" West, a distance of 1013.86 feet to a capped 5/8" iron rod found marked
"CATER AND BURGESS" for corner;
North 34°06'06" East, a distance of 425.44 feet to a capped 5/8" iron rod found marked "CATER
AND BURGESS" for corner;
North 0°37'28" West, a distance of 238.46 feet to a point for corner in the south right-of-way line
of Heritage Trace Parkway (a 120-foot wide right-of-way)
THENCE, North 89°34'51" East, along the said south line of Heritage Trace Parkway, a distance
of 1,065.70 feet to a 1/2-inch iron rod with "HALFF ASSOC" cap found for corner in the said
west line of the North Freeway;
THENCE, along the said west line of North Freeway, the following ten (10) calls:
South 0°23'21" East, a distance of 36.45 feet to a 1/2-inch iron rod with "HALFF ASSOC" cap
found for corner; South 45°35'47" East, a distance of 141.33 feet to a TxDOT Monument found
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for corner;
South 6°11'59" East, a distance of 100.39 feet to a TxDOT Monument found for corner; South
13°15'28" East, a distance of 615.14 feet to a TxDOT Monument found for corner;
South 6°05'52" East, a distance of 59.05 feet to a 5/8-inch iron rod with yellow cap found for
corner; South 6°15'20" East, a distance of 192.41 feet to a TxDOT Monument found for corner;
South 3°54'39" East, a distance of 344.72 feet to a TxDOT Monument found for corner; South
0°34'50" East, a distance of 197.81 feet to a•+• cut in concrete found for corner; South 0°31'25"
East, a distance of 486.97 feet to a 5/8-inch iron rod found for corner;
South 0°36'02" East, a distance of 483.16 feet to the POINT OF BEGINNING and containing
89.2599 acres or 3,888,161 square feet of land, more or less.
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EXHIBIT B
Map of Property: Citadel at Presidio FP-18-012
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EXHIBIT C
Development Plan: Final Plat FP-18-012
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EXHIBIT D
Eligible Transportation Improvements
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EXHIBIT E
Credits Against Transportation Impact Fees
Heritage Trace Parkway
Transportation Impact Fee Credit Overview
Value of ROW Dedication
Instrument # Final Plat # Eligible Arterial Value
D219009096 FP-18-012 Heritage Trace Parkway $51,012.00
Total ROW Transportation Impact Fee Credit $51,012.00
Value of Community Facilities Agreement Construction
City Secretary # City Project # CFA # Eligible Arterial Value
51422 101586 CFA18-060 Heritage Trace Parkway $844,200.25
Engineering, Surveying, and Material Testing = 20% of eligible construction costs $168,840.05
Total Transportation Impact Fee Credit $1,064,052.30
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Right-of-Way Valuation for Heritage Trace
Parkway
Valuation Method 1 - Percentage of TIP Project Cost
Eligible Arterial Heritage Trace
Parkway
2013 Transportation Improvements Plan Project Number C-18
Estimated Construction Costs from 2013 Transportation
Improvements Plan
$1,249,000.00
Value of Total Project Right-of-Way (20% of Construction
Cost)
$249,800
Total Project Length (LF) 5,240
Arterial Cross-Section Width (LF)110
Additional ROW needed for Roundabout (SF)0
Total Project Right-of-Way (SF) 576400
Right-of-Way Value Per Square Foot $0.44
Valuation Method 2 - Percentage of Construction Project
Cost
Eligible Arterial Heritage Trace
Parkway
City Project Number 101586
Final Construction Costs from Notice of Completion (Green
Sheet) $254,890.97
Value of Total Project Right-of-Way (20% of Construction
Cost)
$50,978
Total Project Length (LF) 5240
Arterial Cross-Section Width (LF)110
Additional ROW needed for Roundabout (SF)0
Total Project Right-of-Way (SF) 23,400
Right-of-Way Value Per Square Foot $2.18
Valuation Method 3 - TAD appraised value
TAD Value as of 08/9/2023
Heritage Trace
Parkway
TAD Account 41228820
Total Area (SF) 28,209
Appraised Value $100.00
Value per Square Foot $0.01
Right-of-Way Dedication
Heritage Trace
Parkway
Recording Instrument Number D219009096
Final Plat Number FP-18-012
Recording Date 1/15/2019
Total area of ROW dedicated (SF) 23,400
Value per SF $2.18
ROW Credit Available $51,012.00
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Value of Community Facilities Agreement Construction Heritage Trace Parkway
Paving
Item
No. Description Unit Eligible
Quantity
Completed
Quantity Unit Price Credit Available
1 REMOVE ADA RAMP EA 0 4 $ 250.00 -$
2 REMOVE FENCE LF 0 1,052 $ 1.00 -$
3 REMOVE CONC PVMT SY 0 5,043 $ 10.00 -$
4 HYDRATED LIME TN 122 122 $ 174.00 21,228.00$
5 8" LIME TREATMENT SY 8,450 8,450 $ 6.00 50,700.00$
6 10" CONC PVMT SY 6,494 6,494 $ 68.45 444,514.30$
7 4" CONC SIDEWALK SF 11,575 11,575 $ 6.55 75,816.25$
8 BARRIER FREE RAMP EA 0 2 $ 2,160.00 -$
9 BARRIER FREE RAMP EA 3 3 $ 2,160.00 6,480.00$
10 BARRIER FREE RAMP EA 0 2 $ 2,160.00 -$
11 BARRIER FREE RAMP EA 0 6 $ 2,160.00 -$
12 4" SLD PVMT MARKING HAS LF 0 955 $ 1.80 -$
13 18" SLD PVMT MARKING HAE LF 0 60 $ 7.20 -$
14 24" SLD PVMT MARKING HAE LF 0 120 $ 9.60 -$
15 LANE LEGEND ARROW EA 0 3 $ 180.00 -$
16 LANE LEGEND DBL ARROW EA 0 8 $ 270.00 -$
17 REFL RAISED MARKER EA 0 13 $ 5.50 -$
18 REFL RAISED MARKER EA 0 227 $ 5.50 -$
19 BLOCK SOD PLACEMENT SY 7,021 7,021 $ 5.70 40,019.70$
20 FURNISH/INSTALL ALUM SIGN
GROUND MOUNT CITY STD
EA 41 41 $ 625.00 25,625.00$
21 TRAFFIC CONTROL MO 3 3 $ 10,000.00 30,000.00$
22 8" SLD PVMT MARKING HAE (W) LF 0 212 $ 5.00 -$
23 8" DOT CONTRAST PVMT MARKING
HAE (W)
LF 0 96 $ 5.00 -$
24 4" BRK PVMT MARKING HAE (W) LF 0 12 $ 7.00 -$
25 10" INTEGRAL COLORED CONC PVMT SY 0 819 $ 120.00 -$
26 4' INTEGRAL COLORED CONC SF 11,165 11,165 $ 11.00 122,815.00$
27 DECOMPOSED GRANITE SF 0 1,207 $ 6.30 -$
28 RIVER ROCK SF 0 54 $ 30.00 -$
29 ROCK BOULDER EA 0 36 $ 225.00 -$
Paving Subtotal 817,198.25$
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Storm Drain
Item
No. Description Unit Eligible
Quantity
Completed
Quantity Unit Price Credit Available
1 REMOVE 21" STORM LINE LF 0 50 $ 27.00 -$
2 REMOVE 10' RECESSED INLET EA 0 2 $ 600.00 -$
3 SWPPP LS 1 1 $ 1,602.00 1,602.00$
4 21" RCP, CLASS III LF 225 225 $ 39.00 8,775.00$
5 10' RECESSED INLET EA 2 6 $ 4,800.00 9,600.00$
6 TRENCH SAFETY LF 0 760 $ 2.10 -$
7 24" RCP CLASS III LF 0 534 $ 47.00 -$
8 4' STORM JUNCTION BOX EA 0 1 $ 5,000.00 -$
Storm Drain Subtotal 19,977.00$
Street Light Improvements
Item
No. Description Unit Eligible
Quantity
Completed
Quantity Unit Price Credit Available
1 2" CONDT PVC SCH 80 LF 680 $ 17.25 -$
2 2" CONDT PVC SCH 80 LF 0 655 $ 23.00 -$
3 GROUND BOX TYPE B W/APRON EA 1 9 $ 525.00 525.00$
4 LED LIGHTING FIXTURE EA 2 8 $ 650.00 1,300.00$
5 RDWY ILLUM FOUNDATION EA 1 7 $ 1,250.00 1,250.00$
6 RDWY ILLUM TY D-40-9 POLE EA 0 6 $ 3,165.00 -$
7 RDWY ILLUM TY D-40-9T POLE EA 1 1 $ 3,950.00 3,950.00$
Street Lights Subtotal 7,025.00$
Paving Subtotal 817,198.25$
Storm Drain Subtotal 19,977.00$
Street Lights Subtotal 7,025.00$
CONSTRUCTION SUBTOTAL 844,200.25$
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EXHIBIT F
Allocation of Credits
Allocation of Credits shall be as listed below and then on a first-come/first-served basis within
the plat boundary of Citadel at Presidio Final Plat, FP-18-012 and shall run with the land.
Credit Allocations
Specs Family Corp., a Texas corporation as successor in interest to Spec's
Family Partners, LTD.
$ 241,985.63 Part of Lot 8, Block 1
PB21-17599 Building 6 Expansion $ 14,419.93
PB21-18862 Building 8 $ 59,664.37
PB21-18745 Specs Retail Shell Building $ 67,877.00
Remaining Balance Allocation to ADD Northtowne, LLC and North
Presidio, LLC only
$ 680,105.37