HomeMy WebLinkAboutContract 62295CSCO NO. 62295
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 AG EHC II (LEN) MULTI STATE 4, LLC, a Delaware limited liability company
(the "Owner 1") and Lennar Homes of Texas Land & Construction, LTD., a Delaware Limited
Partnership company authorized to do business in Texas (the "Owner 2") (the City and the Owner
a "Party", and collectively, the "Parties").
RECITALS
WHEREAS, the Owner is the owner of approximately 47.21 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 S; 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 Carrell Hills, PP-21-
OFFICIAL RECORD
Transportation Impact Fee Credit Agreement- CA-24-004 CITY SECRETARY Page 1 of 14
Carrell Hill FT. WORTH, Tx 11/07/2024
077, on 12/15/2021; and
WHEREAS, the Owner has received final plat approval for Carrell Hills, FP-23-034, on
2/8/2024; and
WHEREAS, the Owner has dedicated 80,033 square feet of right-of-way for Old
Weatherford Road with FP-23-034, recorded as Instrument D224022196 on 2/8/2024; and
WHEREAS, the Owner has received approval for construction plans (IPRC22-0171) on
2/27/2023, and executed a Community Facilities Agreement (CFA 23-0026, CSCO 59453), on
5/23/2023, and obtained final acceptance by the City for Carrell Hills, City Project Number
104034, on 9/26/2024
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:
Transportation Impact Fee Credit Agreement- CA-24-004 Page 2 of 14
Carrell Hill 11 /07/2024
(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 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 revision, amendment, assignment, 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-24-004 Page 3 of 14
Carrell Hill 11 /07/2024
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
Dam �Gl�(GL0(01q
D,,na Burghdoff (Nov 202419:47 ST)
Dana Burghdoff
Assistant City Manager
Date: Nov 12, 2024
Recommended By:
0. wa4A&
Dalton J. HarrettpAv 12, 2024 08:14 CST)
DJ Harrell
Director, Development Services
Approved as to Form and Legality:
Douglas Black (Nov 12, 202412:58 CST)
Douglas Black
Assistant City Attorney
M&C: None required
Form 1295: None required
ATTEST:
F FORtn�aa
o
oo� ��•o°
10d 9odG
�o
o°_o o=v
000 � c
DPP'..
o�°*off
�an4 TExPS q�
nRnaaao
Jannette Goodall
City Secretary
Transportation Impact Fee Credit Agreement- CA-24-004
Carrell Hill
OWNER 1
AG EHC II (LEN) Multi State 4, LLC
a Delaware limited liability company
By: Essential Housing Asset Management, LLC
an Arizona limited liability company its
Authorized Agent
Steven S. Benson
Steven S. Benson (Nov 12, 2024 06:00 MST)
Steven S. Benson, its Manager
OWNER 2
Lennar Homes of Texas Land & Construction,
LTD.
a Delaware Limited Partnership
Jennifer Eller (Nov 12, 2024 07:51 CST)
Jennifer Eller
Authorized Agent
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 Ro erts (Nov 7, 202416:59 CST)
Jennifer H. Roberts
Assistant Director, Development Services
Department
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
Page 4 of 14
11 /07/2024
EXHIBIT LIST
"A" Description of the Property
"B" Map of Property
"C" Development Plan
"D" Eligible Transportation Improvements
"B" Credits Against Transportation Impact Fees
"F" Allocation of Credits
Transportation Impact Fee Credit Agreement- CA-24-004 Page 5 of 14
Carrell Hill 11 /07/2024
EXHIBIT A
Description of Property: Carrell Hills Preliminary Plat, PP-21-077
BEING a 47.21 acre tract of land owned by Lennar Homes of Texas Land and Construction LTD,
situated in the Cyrus K Gleason Survey, Abstract No. 559, City of Fort Worth, Tarrant County,
Texas, and being more particularly described by metes and bounds as follows;
BEGINNING at a set 5/8-inch iron rod with yellow plastic cap stamped "PAPE DAWSON" for
the northwest corner of a tract described as Uplift Education, an addition to the City of Fort Worth,
Texas recorded in Instrument Number D218112370, said point also being along the easterly line
of a tract of land in the Fort Worth ETJ, owned by Elaine Wagner recorded in Instrument Number
146850000420;
THENCE, N 00°21'06" E, along the easterly line of said Wagner Tract, a distance of 1260.00'
feet, passing the northeast corner of said Wagner tract, as well as passing a tract of land in the Fort
Worth ETJ, owned by Paul & Louisa Ravaris recorded in Instrument Number 116650000992, and
passing another tract of land in the Fort Worth ETJ, owned by Alex and Laurie Harrington recorded
in Instrument Number D218195355, to a PK Nail found within the Existing Right-of-way of Old
Weatherford Road, a Variable Width Right-of-way for the northwest corner of said Lennar tract;
THENCE, S 89°59'48" E, along the Old Weatherford Right-of-way distance of 1632.03 feet to a
Mag Nail found at the northwest corner of a tract described as Oncor Electric Delivery Company,
found in the Fort Worth ETJ, and recorded in Instrument Number 15342000016. Said point also
being the northeast corner of said Lennar tract;
THENCE, S 00°20'22" W, departing said Old Weatherford Right-of-way, along the easterly line
of said Lennar tract and the westerly line of said Oncor Delivery Tract, a distance of 379.40 feet.
Passing the south west corner of said Oncor tract and along the westerly line of a tract of land in
the Fort Worth ETJ, owned by Christine Grebeck, recorded in Instrument Number D206042059,
to a found 1/2-inch iron rod at the southwest corner of said Grebeck tract and along the northern
boundary or said Uplift Education tract. Said point also being the southeast corner of said Lennar
tract;
THENCE, N 89°59'48" W, along the southern line of said Lennar tract and the northern line of
said Uplift Education tract, a distance of 1632.30 feet to the POINT OF BEGINNING, and
CONTAINING 47.21 Acres or 2,056,485 Square Feet of land more or less.
Transportation Impact Fee Credit Agreement- CA-24-004 Page 6 of 14
Carrell Hill 11 /07/2024
EXHIBIT B
Map of Property: Carrell Hills Preliminary Plat, PP-21-077
CITY OF
FORT WORTH
UUUN I T
Transportation Impact Fee Credit Agreement- CA-24-004 Page 7 of 14
Carrell Hill 11 /07/2024
EXHIBIT C
Development Plan: Carrell Hills Preliminary Plat, PP-21-077
iY} �EY6TMG wO.Y oEacAtx°s �6Y �Y .O C tO�L. U,1 .r l rix a,r w rpri xoxrx «.r. .
Y 97Ffl11Nc Yvtl ESYI I �/l]�2! waY DFgCAnOY//��( "" txU WtAI NtNYUNU HUAU I*/ �/JJJ/
_ _ w -' m m E" Nsv N �am1Eum Vm xm m m e.m m\ m vw t T
__ If AIp YIl1T11m fIPQl 9'IdL �________
A
r k q 88 S SggfRFNNG - YA,1 ESYi
@g BB g a gg
u ! w ? r.' i s ♦ ! t� $®� ° @� 1 !�Y �,s�.I�s-! t'\I +1 .n.
o r
r�u♦v aa._ -- LLinar
mil.\ \\ lri ''°ni4 y yyg fgCl r c wr 1p5 gCI Awr C wr jpC
,w: B .ux'r. 1/\I t� a r. 11 I I61 r:.s 19, / 9� • • • / I
3 �\ \ rwv m mi ! ua a yy� yy ma rssa �qy - ua jy1. rua
gF � ruu
s 9WFENXC Exul E9E1
< F "° s S. g wp'm g
1 i g rssa g mu � yma p ma p ua p map p�g
1 Y I. 1
RO[ORA« EA9p11 1 / 1 � '
n
o
11r�
�x a�vEx� �ox
; am m A_m. _m M .... eT>va._ m ".m, .°a°r� m _ _m.m_ _ ; ? _w.s
g.a'sAxNuiv sEvn uttmr L I F.._._.._..._. _.. .._..._..-.-.._._\r .E .._.._..._.._..�. .. _.._. .._.._.._.._
1YST. xo. ozzozzsis, arauT.l� 1 ss
1 t. aa s. g� . aa s. °. . g ° g r gg rster _ n. . t . •. ,Lm/• � !
i 4 H4u ! @ ° 4 !#u♦ s
"^w•
1 �\ \1
r,xrasn zs' m«xA41: I E ! g Iwr O _ _ _ _ _r a't / Y,/ w'Qa•rA 'c /I L
_. EAmtExr y g g p 1 �' 111 _�ns mse.easem-�m
1 \ \ �
4 tl' -�.� t�rx .m -mr .. mrrr�• s••- m-mm-w..� ��:> 4y,r / % I I
EEEECn.E
� � .\ m�-�� z • '� ,f 1 �
J.
\\ '�+ r I' - 4 • wm_.mm. _mm_ _emr__m_m_ m�.w_.,s, /« A j1 � I
. , . Yw, �w, 8w Y„ u, 9w s Y„r gY.z\ ,s 7 I «er
— 9 oar f� I '•�.. vw s.a
;wwwo 99 ms m@CID t5 11MAN'E I '- mm mar mm mm wm xm sum s°m soar suou smo «. •'
FASOtNT WM EIMMW I B t00' 18 eI : _ _ _ _ _O _ _ _ _ _ m l � I ws, f� •I' • i .
j1 _ �If I g .mm 1 /`s �\• z. m m a• m n• rs• n• w• ,s• �«.•!� pi • fp io -D c¢' cum
11 f i/-
n♦t•ry` r�>ws..m-: m-m-•-r�y:.:�w ram_ _sem _sem_ _m!.ter-; -am_ \ I I !
I/ I I I
raovoun n• msExa < i
_ --T i� \\\\ I I �o. },�.;..� �s..y.m Its •a•tim:zgm ym gmy« �.,:• ti„ >. !: !s ! I— i 1-
P.O.B.
Transportation Impact Fee Credit Agreement- CA-24-004 Page 8 of 14
Carrell Hill 11 /07/2024
EXHIBIT D
Eligible Transportation Improvements
FORT WORTH.
Carrell Hills
Eligible Transportation Improvements
for Credit against Transportation
Impact Fees
Key
- Development Plan Area
- Right -of -Way Dedication /
Roadway Construction
LU
OLD IMI ATHFRFORD
q'
GUM BALU R FtEt
`
C?
LU
LU
Ui
LU
LU
c,a
w
REVOLVER
REVOLVER
a
w
k
COWHIDE COWHIDE
Mr
i
4
Eligible Improvements Reference # Limits
Old Weatherford Rd FP-23-034 Right-of-way dedication from Old
Weatherford Rd
CFA23-0026 Sidewalks, street lights and drainage
CPN 104034
CSCO 59453
Transportation Impact Fee Credit Agreement- CA-24-004 Page 9 of 14
Carrell Hill 11 /07/2024
EXHIBIT E
Credits Against Transportation Impact Fees
Carrell Hills
Transportation Impact Fee Credit Overview
Value of ROW Dedication
Instrument # Final Plat # Eligible Arterial Value
D224022196 FP-23-034 Old Weatherford Rd $314,529.69
Total ROW Transportation Impact Fee Credit $314,529.69
THY Eligible Community Facilities Agreement Construction
City Secretary # CFA # Eligible Arterial Value
59453 CFA 23-0026 Old Weatherford Rd $831,480.50
CPN 104034
Engineering, Surveying, and Material Testing = 20% of eligible construction costs $166,296.10
Total Transportation Impact Fee Credit $1,312,306.29
Transportation Impact Fee Credit Agreement- CA-24-004 Page 10 of 14
Carrell Hill 11 /07/2024
Right -of -Way Valuation for Old Weatherford Road
Valuation Method 1 - Percentage of TIP Project Cost
Eligible Arterial Old Weatherford Rd
2022 Transportation Improvements Plan Project Number S-16
Estimated Construction Costs from 2022 Transportation $7,791,000
Improvements Plan
Value of Total Project Right -of -Way (20% of Construction Cost) $1,558,200
Total Project Length (LF) 3,610
Arterial Cross -Section Width (LF) 110
Additional ROW needed for Roundabout (SF) 0
Total Project Right -of -Way (SF) 397,100
Right -of -Way Value Per Square Foot $3.93
Valuation Method 2 - Percentage of Construction Project Cost
Eligible Arterial Old Weatherford Rd
City Project Number 104034
Final Construction Costs from Notice of Completion (Green Sheet) $831,480.50
Value of Total Project Right -of -Way (20% of Construction Cost) $166,296
Total Project Length (LF) 1632
Arterial Cross -Section Width (LF) 49
Additional ROW needed for Roundabout (SF) 0
Total Project Right -of -Way (SF) 80,033
Right -of -Way Value Per Square Foot $2.08
Valuation Method 3 - TAD appraised value
TAD Value as of 08/9/2023
Old Weatherford Rd
TAD Account
3892360
Total Area (SF)
2,056,903
Appraised Value
$233,739
Value per Square Foot
$0.12
Right -of -Way Dedication
Old Weatherford Rd
Recording Instrument Number
D224022196
Final Plat Number
FP-23-034
Recording Date
2/8/2024
Total area of ROW dedicated (SF)
80,033
Value per SF
$3.93
ROW Credit Available
$314,529.69
Transportation Impact Fee Credit Agreement- CA-24-004 Page 11 of 14
Carrell Hill 11 /07/2024
Item
Descriam 0ption
Unit
Eligible
Completed
Unit Price
Credit
N
QuantityQuantity
Available
1
REMOVE ASPHALT PAVEMENT
SY
4,523
0
$12.00
$54,276.00
2
ASPHALT PVMT REPAIR BEYOND DEFINED
SY
0
0
$60.00
$0.00
WIDTH, ARTERIAL
3
3" ASPHALT PVMT TYPE D
SY
0
0
$30.00
$0.00
4
8" LIME TREATMENT (na, 48 LBS/SQYD)
SY
4,691
0
$5.00
$23,455.00
5
10" CONC PVMT
SY
4,404
0
$84.00
$369,936.00
6
4" CONC SIDEWALK
SF
14,107
0
$4.50
$63,481.50
7
BARRIER FREE RAMP, TYPE P-1
EA
4
0
$2,200.00
$8,800.00
8
4" SLD PVMT MARKING HAS (Y)
LF
1,588
0
$2.00
$3,176.00
9
REFL RAISE MARKER TY II -A -A
EA
41
0
$6.00
$246.00
10
FURNISH/INSTALL ALUM SIGN GROUND MOUNT
EA
2
0
$750.00
$1,500.00
CITY STD. (R2-1)
11
FURNISH/INSTALL ALUM SIGN GROUND MOUNT
EA
2
0
$750.00
$1,500.00
CITY STD. (R4-1)
12
FURNISH/INSTALL ALUM SIGN GROUND MOUNT
EA
2
0
$750.00
$1,500.00
CITY STD. (W6-3)
13
24" WHITE STOP BAR PVMT MARKING HAS (W)
EA
2
0
$450.00
$900.00
14
TRAFFIC CONTROL
MO
2
0
$6,500.00
$13,000.00
15
HYDRATED LIME
SY
113
0
$275.00
$31,075.00
Paving
Subtotal
$572,845.50
Storm Drain
Item
Description
Unit
Eligible
Completed
Unit Price
Credit
No.
Quantity
Quantity
Available
1
MEDIUM STONE RIPRAP, DRY
SY
52
0
$115.00
$5,980.00
2
TRENCH SAFETY
LF
1,087
0
$2.00
$2,174.00
3
21" RCP, CLASS III
LF
57
0
$73.00
$4,161.00
4
24" RCP, CLASS III
LF
1,030
0
$83.00
$85,490.00
5
4' STORM JUNCTION BOX
EA
3
0
$5,500.00
$16,500.00
6
24" SET, 1 PIPE
EA
1
0
$3,500.00
$3,500.00
7
10' RECESSED INLET
EA
3
0
$5,200.00
$15,600.00
8
INLET PROTECTION
EA
3
0
$250.00
$750.00
Storm Drain Subtotal
$134.155.00
Transportation Impact Fee Credit Agreement- CA-24-004 Page 12 of 14
Carrell Hill 11 /07/2024
Street Lh!ht Improvements
Item
jo
Description
Unit
Eligible
Completed Unit
Credit
No.
Quantity
Quantity Price
Available
1
2" CONDT PVC SCH 80 (T)
LF
1680
0 $19.00
$31,920.00
2
NO 2 INSULATED ELEC CONDR
LF
6840
0 $4.00
$27,360.00
3
FURNISH/INSTALL GROUND BOX TYPE B,
EA
8
0 $950.00
$7,600.00
W/APRON
4
FURNISH/INSTALL TYPE 33A ARM
EA
9
0 $550.00
$4,950.00
5
FURNISH/INSTALL LED LIGHTING FIXTURE
EA
9
0 $950.00
$8,550.00
(133 WATT ATB2 COBRA HEAD)
6
RDWY ILLUM FOUNDATION TY 3,4,5, AND 8
EA
9
0 $1,500.00
$13,500.00
7
FURNISH/INSTALL RDWY ILLUM
EA
9
0 $3,400.00
$30,600.00
FOUNDATION TY 18
Street Lights Subtotal
$124,480.00
Paving Subtotal
$572,845.50
Storm Drain Subtotal
$134,155.00
Street Lights Subtotal
$124,480.00
CONSTRUCTION SUBTOTAL
$831,480.50
Transportation Impact Fee Credit Agreement- CA-24-004 Page 13 of 14
Carrell Hill 11 /07/2024
EXHIBIT F
Allocation of Credits
Credit shall be allocated on a first -come, first -served basis to building permits within the
preliminary plat boundary of Carrell Hills Preliminary Plat, PP-21-077.
1; OVlR OaD( LA allai8� '� \ '
♦ �NAGGIn � \ �
moo:. r /� waa mrwea IUo�.w � r caa twn I � "yl
��`J1 r wmw.0 rtrr xVaaa tmrwna T lI I+ fj� I �r rxwlc�
` ` •� � I I � I I � v E
-I.-
�.:' —-:a'
,♦ i,\\ \� � , I it my. � .t � I pl M � �; 1� I tl unW � u1�i. I I ��e i '
♦ � �\ .....�,�. ,,,,,y �-- � _ g gI I ",." gI 11 ��r1g1q g= n..� g I.v
i o I 1 �-_____—�� I w�.� ! _ i� "i. } I �.°. l • 1 i� 8 � ... E �"°erd��s� /
L 1• 1. ) am1rsi vam0 I I Q i •... N •... i i e:... - 9_ J. pI 1
wwi ra.r tl 1X u« .gy1 I ! I I ! I
t
g e srnr. ur. ufoallr I 1'
trsr. .a osmx'm�o. wxtctJ 1
1
\ 1
1 1 vano6m x Darr¢ I r°tl"
1 aAml'��
It
CA4101T
/f
r raorotm xr Uarrl(•
l
Transportation Impact Fee Credit Agreement- CA-24-004 Page 14 of 14
Carrell Hill 11 /07/2024