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HomeMy WebLinkAboutContract 62913Transportation Impact Fee Credit Agreement- CA-24-015 Page 1 of 16 La Prelle 2/21/2025 CSCO NO.____________________ 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 TPHMI DFW 4047, 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 373.102 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 Transportation Impact Fee Credit Agreement- CA-24-015 Page 2 of 16 La Prelle 2/21/2025 WHEREAS, the Owner has received preliminary plat approval for La Prelle, PP-22-001, on 9/27/2023 and WHEREAS, the Owner has dedicated 389,091 square feet of right-of-way for Wagley Robertson Road and 31,044 square feet of right-of-way for Blue Mound Road with FP-24-096 recorded as Instrument D224210415, on 11/22/2024; and WHEREAS, the Owner has received approval for construction plans (IPRC22-0108) on 8/15/2023 and executed a Community Facilities Agreement (CFA24-0011, CSCO 61301), for construction associated with Wagley Robertson Road (CPN 104625), on 4/20/2024 with a development bond financial guarantee. WHEREAS, the Owner has received approval for construction plans (IPRC23-0158) on 4/1/2024, and executed a Community Facilities Agreement (CFA24-0013, CSCO 61303), for construction associated with Wagley Robertson Road (CPN 105163), on 4/20/2024 with a development bond financial guarantee. 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 Transportation Impact Fee Credit Agreement- CA-24-015 Page 3 of 16 La Prelle 2/21/2025 Community Facilities Agreement (for 75% of the eligible roadway construction credit) and final acceptance by the City has been obtained (for 100% of the eligible roadway 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. A credit agreement amendment executed by the City, any remaining Owners, and the Owner’s Assignee will be required to formally transfer any credits for use. 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, assignment, 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-24-015 Page 4 of 16 La Prelle 2/21/2025 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 _______________________________ Jesica McEachern 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 TPHMI DFW 4047, LLC a Delaware Limited Liability Company Bruce French Managing Member 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 Transportation Impact Fee Credit Agreement- CA-24-015 Page 5 of 16 La Prelle 2/21/2025 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-24-015 Page 6 of 16 La Prelle 2/21/2025 EXHIBIT A Description of Property: La Prelle Preliminary Plat, PP-22-001 BEING, all of that 373.102 acre (16,252,310 square foot) tract of land situated in the M.E.P. & P. RR. Co. Survey, Abstract Number 1130, and the James Righley Survey, Abstract Number 1268, in the City of Fort Worth and in Tarrant County, Texas; being all of that tract of land described in Special Warranty Deed to TPHMI DFW 4047, LLC as recorded in Instrument Number D221367748 of the Official Public Records of Tarrant County, Texas (O.P.R.T.C.T.); said 373.102 acre tract of land being more particularly described by metes and bounds as follows: BEGINNING, at a point at the southwest corner of said 373.102 acre tract; said point being in the center of Blue Mound Road (County Road No. 4047) (a generally recognized public right-of-way, no record of dedication found); from said point a 5/8-inch iron rod with “BGE” cap set for witness corner bears North 00 degrees 26 minutes 01 seconds West, a distance of 14.18 feet; THENCE, North 00 degrees 26 minutes 01 seconds West, along the west line of said 373.102 acre tract, at a distance of 14.18 feet passing said 5/8-inch iron rod with “BGE” cap found at the southeast corner of that called 13.715 acre tract of land described in General Warranty Deed to Ron Sturgeon as recorded in Instrument Number D206166557 (O.P.R.T.C.T.), continuing in all a total distance of 2,287.81 feet to a 5/8-inch iron rod with “BROOKES BAKER” cap found for corner; said point being the northeast corner of said 13.715 acre tract and the most easterly southeast corner of that called 19.802 acre tract of land described in General Warranty Deed to Ivan Jack Miller as recorded in Instrument Number D206162742 (O.P.R.T.C.T.); THENCE, North 00 degrees 26 minutes 02 seconds West, continuing along said west line of said 373.102 acre tract, at a distance of 550.01 feet passing said 5/8-inch iron rod with “BROOKES BAKER” cap found at the northeast corner of said 19.802 acre tract and the most easterly southeast corner of that called 29.049 acre tract of land described in General Warranty Deed to Robert Baker as recorded in Instrument Number D206166698 (O.P.R.T.C.T.), continuing in all a total distance of 1,094.00 feet to a 5/8-inch iron rod with “BGE” cap set at the northwest corner of said 373.102 acre tract; said point being in the south line of that tract of land described in Special Warranty Deed with Vendor's Lien to FP Lakeside, LLC as recorded in Instrument No. D223078704 (O.P.R.T.C.T.); from said point a 1-inch iron rod found bears South 01 degrees 13 minutes East, a distance of 2.8 feet; THENCE, North 89 degrees 38 minutes 35 seconds East, along the north line of said 373.102 acre tract, a distance of 3,390.93 feet to a concrete monument with bolt in top found for corner; said point being the southwest corner of LeTara, Phase One, an addition to the City of Haslet, as recorded in Instrument Number D219289910 of the Plat Records of Tarrant County, Texas; THENCE, North 89 degrees 43 minutes 58 seconds East, continuing along the north line of said 373.102 acre tract and the south line of said LeTara, a distance of 1,388.82 feet to an “X” cut in concrete found for corner (1/2-inch iron rod with “LANDES” cap previously found for corner); said point being the northwest corner of that called 4.932 acre tract of land described in Right-of- Way Dedication Deed to the City of Haslet as recorded in Instrument Number D220197294 (O.P.R.T.C.T.); Transportation Impact Fee Credit Agreement- CA-24-015 Page 7 of 16 La Prelle 2/21/2025 THENCE, South 00 degrees 31 minutes 41 seconds East, along the west line of said 4.932 acre tract, a distance of 3,413.18 feet to a point in the center of said Blue Mound Road (County Road No. 4047); from said point a 5/8-inch iron rod with “BGE” cap set for witness corner bears North 00 degrees 31 minutes 41 seconds West, a distance of 60.00 feet; THENCE, North 89 degrees 57 minutes 19 seconds West, along the south line of said 373.102 acre tract and the center of said Blue Mound Road (County Road No. 4047), a distance of 4,785.53 feet to the POINT OF BEGINNING and containing an area of 373.102 acres or 16,252,310 square feet of land, more or less. Transportation Impact Fee Credit Agreement- CA-24-015 Page 8 of 16 La Prelle 2/21/2025 EXHIBIT B Map of Property: La Prelle Preliminary Plat, PP-22-001 Transportation Impact Fee Credit Agreement- CA-24-015 Page 9 of 16 La Prelle 2/21/2025 EXHIBIT C Development Plan: La Prelle Preliminary Plat, PP-22-001 Transportation Impact Fee Credit Agreement- CA-24-015 Page 10 of 16 La Prelle 2/21/2025 EXHIBIT D Eligible Transportation Improvements Laprelle Eligible Transportation Improvements for Credit against Transportation Impact Fees Key Development Plan Area Right-of-Way Dedication / Roadway Construction Eligible Improvements Reference #Limits Wagley Robertson Blue Mound Road FP-24-096 Right-of-way dedication Wagley Robertson Road Ph 1A CPN 105163 CFA24-0013 CSCO 61303 Construction of paving, sidewalks, and drainage Wagley Robertson Road Ph 1 CPN 104625 CFA24-0011 CSCO 61301 Construction of paving, sidewalks, drainage and streetlight(s) Transportation Impact Fee Credit Agreement- CA-24-015 Page 11 of 16 La Prelle 2/21/2025 EXHIBIT E Credits Against Transportation Impact Fees La Prelle Transportation Impact Fee Credit Overview Value of ROW Dedication Instrument # Final Plat # Eligible Arterial Value D224210415 FP-24-096 Wagley Robertson Rd $1,474,654.89 D224210415 FP-24-096 Blue Mound Rd $112,689.72 ROW Transportation Impact Fee Credit $1,587,344.61 TrIF Eligible Community Facilities Agreement Construction - 75% Eligible City Secretary # CFA # Eligible Arterial Value 61303 61301 CFA24-0013 CPN 105163 IPRC23-0158 & CFA24-0011 CPN 104625 IPRC22-0108 Wagley Robertson Rd Ph 1A Wagley Robertson Rd Ph 1 $780,525.00 $3,097,781.40 75% Community Facilities Agreement Credit Prior to Final Acceptance of the Facility $2,908,729.80 Engineering, Surveying, and Material Testing = 20% of total eligible construction costs $775,661.28 Transportation Impact Fee Credit $5,271,735.69 Total Transportation Impact Fee Credit Remaining $5,271,735.69 Transportation Impact Fee Credit Agreement- CA-24-015 Page 12 of 16 La Prelle 2/21/2025 Right-of-Way Valuation for LaPrelle Phase 1 & 1A Valuation Method 1 - Percentage of TIP Project Cost Eligible Arterial Wagley Robertson Rd Blue Mound Rd 2022 Transportation Improvements Plan Project Number B-16 B-33 Estimated Construction Costs from 2022 Transportation Improvements Plan $6,831,000 $6,288,000 Value of Total Project Right-of-Way (20% of Construction Cost) $1,366,200 $1,366,200 Total Project Length (LF) 3285 3425 Arterial Cross-Section Width (LF)110 110 Additional ROW needed for Roundabout (SF)0 $0 Total Project Right-of-Way (SF) 361,350 376,750 Right-of-Way Value Per Square Foot $3.79 $3.63 Valuation Method 2 - Percentage of Construction Project Cost Eligible Arterial Wagley Robertson Rd Blue Mound Rd City Project Number 105163 105163 Final Construction Costs from Notice of Completion (Green Sheet) $780,525.00 N/A Value of Total Project Right-of-Way (20% of Construction Cost) $156,105 N/a Total Project Right-of-Way (SF) 389,091 N/a Right-of-Way Value Per Square Foot $0.40 $0.00 Valuation Method 3 - TAD appraised value Wagley Robertson Rd Blue Mound Rd TAD Account 4063570 40033732 Total Area (SF) 11,394,250 47,480 Appraised Value $3,015,760.00 $1,000.00 Value per Square Foot $0.27 $0.02 Right-of-Way Dedication Wagley Robertson Rd Blue Mound Rd Recording Instrument Number D224210415 D224210415 Final Plat Number FP-24-096 FP-24-096 Recording Date 11/21/2024 11/21/2024 Total area of ROW dedicated (SF) 389,091 31,044 Value per SF $3.79 $3.63 ROW Credit Available $1,474,654.89 $112,689.72 Transportation Impact Fee Credit Agreement- CA-24-015 Page 13 of 16 La Prelle 2/21/2025 Wagley Robertson Rd Ph 1- 75% TrIF credit since roadway is not complete Value of Eligible Community Facilities Agreement Construction CFA24-0011, CPN 104625, IPRC22-0108, CSCO 61301 Bidlist Item No. Description Unit Quantity Bid Eligible Quantity Unit Price Credit Available UNIT III: DRAINAGE IMPROVEMENTS 1 10' Curb Inlet EA 3 3 $6,000.00 $18,000.00 2 15' Curb Inlet EA 1 1 $8,500.00 $8,500.00 3 21" RCP, Class III LF 202 202 $80.00 $16,160.00 4 24" RCP, Class III LF 176 176 $95.00 $16,720.00 5 4X3 Box Culvert LF 88 88 $290.00 $25,607.00 6 4X4 Box Culvert LF 63 63 $325.00 $20,475.00 7 5X5 Box Culvert LF 187 187 $420.00 $78,540.00 8 10X4 Box Culvert LF 708 708 $850.00 $601,800.00 9 Concrete Collar EA 2 2 $448.00 $896.00 10 5' X 5' Wye Inlet EA 1 1 $9,000.00 $9,000.00 11 4' X 4' Wye Inlet EA 1 1 $7,900.00 $7,900.00 12 5X5 Type B Headwall EA 2 2 $10,200.00 $20,400.00 13 6 - 10 x 4 Type A Headwall EA 2 2 $20,500.00 $41,000.00 14 Rock Rip Rap SY 3,469 3,469 $150.00 $520,350.00 TOTAL UNIT III: DRAINAGE IMPROVEMENTS $1,385,348.00 UNIT IV: PAVING IMPROVEMENTS 1 10" Concrete Pavement SY 13,535 13,535 $68.00 $920,380.00 2 Hydrated Lime TON 233 233 $280.00 $65,206.40 3 8" Lime Treatment SY 14,555 14,555 $3.50 $50,942.50 4 P-1 Barrier Free Ramp EA 4 4 $2,300.00 $9,200.00 5 Utility Service Surface Restoration Sodding SY 6,213 6,213 $6.50 $40,384.50 6 4" Concrete Sidewalk SF 38,860.0 38,860 $7.40 $287,564.00 7 Street sign EA 3 3 $525.00 $1,575.00 8 Furnish/Install Alum Sign Ground Mount City STD( Speed Limit) EA 1 1 $525.00 $525.00 9 Silt fence LF 3,668 3,668 $2.50 $9,170.00 10 Rock Check Dam EA 3 3 $950.00 $2,850.00 11 Inlet Protection EA 4 4 $100.00 $400.00 TOTAL UNIT IV: PAVING IMPROVEMENTS $1,388,197.40 Transportation Impact Fee Credit Agreement- CA-24-015 Page 14 of 16 La Prelle 2/21/2025 UNIT V: STREET LIGHTING IMPROVEMENTS 1 2" Conduit PVC SCH 80(T) LF 6,554 6,554 $17.50 $114,695.00 2 #2 Copper Total LF 19,662 19,662 $3.00 $58,986.00 3 Install Type 33A Arm EA 34 34 $350.00 $11,900.00 4 Road Way Illumination Foundation TY 3 EA 34 34 $1,250.00 $42,500.00 5 Roadway Illumination Assembly TY 18,18A,19, and D-40 EA 34 34 $2,048.00 $69,632.00 6 Install 120-240 Volt Single Phase Metered Pedestal ( Arterial) EA 2 2 $9,511.50 $19,023.00 7 Install Ground Box Type B (Arterial) EA 10 10 $750.00 $7,500.00 TOTAL UNIT V: STREET LIGHTING IMPROVEMENTS $324,236.00 UNIT VI: TRAFFIC SIGNAL IMPROVEMENTS 1 $0.00 TOTAL UNIT VI: TRAFFIC SIGNAL IMPROVEMENTS $0.00 Bid Summary UNIT III: DRAINAGE IMPROVEMENTS $1,385,348.00 UNIT IV: PAVING IMPROVEMENTS $1,388,197.40 UNIT V: STREET LIGHTING IMPROVEMENTS $324,236.00 UNIT VI: TRAFFIC SIGNAL IMPROVEMENTS $0.00 VALUE OF CFA24-0011, CPN 104625 ELIGIBLE CONSTRUCTION SUBTOTAL $3,097,781.40 Transportation Impact Fee Credit Agreement- CA-24-015 Page 15 of 16 La Prelle 2/21/2025 Wagley Robertson Rd Ph 1A - 75% TrIF credit since roadway is not complete Value of Eligible Community Facilities Agreement Construction CFA24-0013, CPN 105163, IPRC23-0158, CSCO 61303 Bidlist Item No. Description Unit Quantity Bid Eligible Quantity Unit Price Credit Available UNIT III: DRAINAGE IMPROVEMENTS 1 10' Curb Inlet EA 1 1 $6,000.00 $6,000.00 2 15' Curb Inlet EA 1 1 $8,500.00 $8,500.00 TOTAL UNIT III: DRAINAGE IMPROVEMENTS $14,500.00 UNIT IV: PAVING IMPROVEMENTS 1 10" Concrete Pavement SY 7,539 7,539 $68.00 $512,652.00 2 Hydrated Lime TON 130 130 $280.00 $36,400.00 3 8" Lime Treatment SY 8,127 8,127 $3.50 $28,444.50 4 P-1 Barrier Free Ramp SY 8 8 $2,300.00 $18,400.00 5 Utility Service Surface Restoration Sodding EA 2,987 2,987 $6.50 $19,415.50 6 4" Concrete Sidewalk SF 17,490 17,490 $7.40 $129,426.00 7 Furnish/Install Alum Sign Ground Mount City STD( Speed Limit) EA 1 1 $525.00 $525.00 8 8" SLD Pvmt Marking HAS(W) LF 692 692 $5.00 $3,460.00 9 6" BRK Pvmt Marking HAS(W) LF 2,093 2,093 $4.00 $8,372.00 10 Silt fence LF 1,712 1,712 $2.50 $4,280.00 11 Rock Check Dam EA 1 1 $950.00 $950.00 12 Inlet Protection EA 2 2 $100.00 $200.00 13 Construction Entrance EA 1 1 $3,500.00 $3,500.00 TOTAL UNIT IV: PAVING IMPROVEMENTS $766,025.00 Bid Summary UNIT III: DRAINAGE IMPROVEMENTS $14,500.00 UNIT IV: PAVING IMPROVEMENTS $766,025.00 UNIT V: STREET LIGHTING IMPROVEMENTS $0.00 UNIT VI: TRAFFIC SIGNAL IMPROVEMENTS $0.00 VALUE OF CFA24-0013, CPN 105163 ELIGIBLE CONSTRUCTION SUBTOTAL $780,525.00 Transportation Impact Fee Credit Agreement- CA-24-015 Page 16 of 16 La Prelle 2/21/2025 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 La Prelle Preliminary Plat, PP-22-001 and shall run with the land.