HomeMy WebLinkAboutContract 63297CSCO NO. 63297
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 D.R. Horton - Texas, LTD, 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 39.694 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 Z; 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 South Oak Grove, PP-
22-031, on 03/22/2024; and
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
Transportation Impact Fee Credit Agreement- CA-24-003 Page 1 of 14
South Oak Grove Estates Section 4 & 5 05/13/2025
WHEREAS, the Owner has dedicated 54,973 square feet of right-of-way for McPherson
Boulevard with FP-24-071, recorded as Instrument D225079503, on 05/05/2025; and
WHEREAS, the Owner has received approval for construction plans (IPRC22-0152) on
02/28/2024, executed a Future Improvement Agreement (CFA24-0007, City Secretary Contract
Number 61165) on 03/21/2024, and deposited with the City the full amount of the future
improvement, reference City Project Number 104283, on 03/21/2024.
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:
I. 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
Transportation Impact Fee Credit Agreement- CA-24-003 Page 2 of 14
South Oak Grove Estates Section 4 & 5 05/13/2025
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. Assi2=ent. 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, 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)
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South Oak Grove Estates Section 4 & 5 05/13/2025
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: 05/19/2025
Recommended By:
Dalton Harrell (pay 16, 2025 09:24 CDT)
DJ Harrell
Director, Development Services
Approved as to Form and Legality:
Douglas Black (May 16, 2025 16:20 CDT)
Douglas Black
Assistant City Attorney
M&C: None required
Form 1295: None required
ATTEST:
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Jannette Goodall
City Secretary
OWNER
D.R. Horton — Texas, LTD.,
a Texas limited partnership
By: D.R. Horton, Inc.,
a Delaware Corporation,
its authorized agent
Justin Bosworth
Assistant 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.
a
nifer Ro erts (May 13, 2025 16:24 CDT)
Jennifer H. Roberts
Assistant Director, Development Services
Department
OFFICIAL RECORD
Transportation Impact Fee Credit Agreement- CA-24-003 CITY SECRETARY Page 4 of 14
South Oak Grove Estates Section 4 & 5 FT. WORTH, Tx 05/13/2025
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-24-003 Page 5 of 14
South Oak Grove Estates Section 4 & 5 05/13/2025
EXHIBIT A
Description of Property: South Oak Grove Preliminary Plat, PP-22-031
BEING a tract of land situated in the Hiram Little Survey, Abstract Number 930 and the
Daniel McVane Survey, Abstract Number 1061, both of Tarrant County, Texas and being all
of that certain called 38.389 acre tract of land described in a deed to Lackland Capital
Management, LLC as recorded in County Clerk's File Number D222140386 of the Official
Public Records, Tarrant County, Texas and being all of that certain called 0.186 acre tract of
land described in deed to Lackland Capital Management, LLC as recorded in County Clerk's
File Number D222140385 Official Public Records, Tarrant County, Texas, and being all of
Tract 1 and Tract 2 described in deed to Lackland Capital Management, LLC as recorded in
County Clerk's File Number D224024973 of the Official Public Records, Tarrant County, and
being more particularly described by metes and bounds as follows:
BEGINNING at a 1/2" iron rod with cap stamped "Pierce -Murray" set for the northwest corner
of said called 38.389 acre tract also being the northeast corner of that certain tract of land
described in deed to McPherson Road Baptist Church, as recorded in Volume 16638, Page 69,
Official Public Records, Tarrant County, Texas and also being at an angle point in the south
lot line of Lot 7, Block 9, Kingspoint, Phase 1 A, as recorded in Cabinet A, Slide 10078, Official
Public Records, Tarrant County, Texas;
THENCE N 68043'19"E, a distance of 1171.80 feet along the common line of the north line of
said called 38.389 acre tract and the south line of said Kingspoint Addition and the south line of
Kingspoint, Phase 2, as recorded in Cabinet A, Slide 11978, Official Public Records, Tarrant
County, Texas to the southeast corner of Lot 16, Block 8, said Kingspoint Phase 2 being a 1/2"
iron rod with cap stamped "Pierce -Murray set in the westerly right-of-way line of Cherrytree
lane (a 50' right-of-way);
THENCE the following courses and distances along the common line of the north line of said
called 38.389 acre tract and the south line of said Kingspoint Phase 2:
N 14°55'58"E, a distance of 17.75 feet along said westerly right-of-way to a 1/2" iron
rod with cap stamped "Pierce -Murray set;
S 75°04'19"E, a distance of 151.46 feet to a 1/2" iron rod with cap stamped "Pierce -
Murray set; S 14°48'22"W, a distance of 151.14 feet to a 1/2" iron rod found;
S 75'11'40"E, a distance of 149.96 feet to a 1/2" iron rod with cap stamped "Pierce -
Murray set in the east Right -of -Way of said Almondtree Drive (a 50' Right -of -Way);
S 14°54'47"W, a distance of 41.36 feet to a 5/8" iron rod;
N 89°32'40"E, a distance of 199.95 feet to a 1/2" iron rod with cap stamped "Pierce -
Murray set; N 00°25'49"W, a distance of 10.60 feet to a 1/2" iron rod with cap stamped
"Pierce -Murray set;
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South Oak Grove Estates Section 4 & 5 05/13/2025
S 89°50'36"E, a distance of 100.94 feet to a 5/8" capped iron rod found in the west Right -
of -Way line of South Race Street (a 68' Right -of -Way);
N 00°06'25"E, a distance of 32.75 feet along said west Right -of -Way line to a 1/2" iron
rod with cap stamped "Pierce -Murray set,
S 89°48'41"E, a distance of 175.83 feet crossing said South Race Street and continuing
to a 1/2" iron rod with cap stamped "Pierce -Murray set;
N 00°26'54"E, a distance of 35.24 feet to a 1/2" iron rod with cap stamped "Pierce -Murray
set;
S 89°48'58"E, a distance of 107.94 feet to a 1/2" iron rod found in the west line
of the aforementioned Lackland Capital Management, LLC Tract 2;
THENCE N 47030'15"E, a distance of 6.91 feet along the northwesterly line of said Tract 2
and the southeasterly line of said Kingspoint Phase 2 to a 1/2" iron rod with cap stamped
"Pierce -Murray set for a point in the existing southwesterly Right -of -Way line of Forest Hill -
Everman Road (a variable width Right -of -Way);
THENCE S 86001'34"E, a distance of 317.27 feet along the northerly line of said Tract 2
and along said existing Right -of -Way to a 1/2" iron rod with cap stamped "Pierce -Murray set
for the northeast corner of said Tract 2 and being an angle point in said southwesterly Right -
of -Way line;
THENCE S 00028' 18"E, a distance of 898.42 feet along the common line of the east line of
said Tract 2, the east line of said called 38.389 acre tract, the east line of the aforementioned
Lackland Capital Management, LLC Tract 1 and the westerly Right -of -Way line of said Forest
Hill-Everman Road to a 1/2" iron rod cap stamped "Pierce -Murray set in the existing north
Right -of -Way line of McPherson Road (a variable width right-of-way) and being the southeast
corner of said Tract 1;
THENCE S 89034' 14"W, a distance of 1319.03 feet along the common line of the south line
of said Tract 1 the existing north right-of-way line of said McPherson Road to a 1/2" iron rod
cap stamped "Pierce- Murray set in the east line of that certain tract of land described in deed
to Lee V. Scott, et ux, as recorded in Volume 12997, Page 403, Official Public Records, Tarrant
County, Texas;
THENCE N 14050'27"E, a distance of 308.74 feet along the west line of said Tract 1, the west
line of said called 38.389 acre tract and the east line of said Scott tract to a 1/2" iron rod with
cap stamped "Pierce- Murray set for the northeast corner of Scott tract and being an angle point
in the southerly line of said called 38.389 acre tract;
THENCE S 89037'13"W, a distance of 274.52 feet along the common line of the south line of
said called
38.389 acre tract and the north line of said Scott tract to a 1/2" iron rod with cap stamped
Transportation Impact Fee Credit Agreement- CA-24-003 Page 7 of 14
South Oak Grove Estates Section 4 & 5 05/13/2025
"Pierce- Murray set at the northwest corner of said Scott tract and the northeast corner of that
certain tract of land described indeed to Manuel Cabrera, et ux, as recorded in County Clerk's
File Number D206299869, Official Public Records, Tarrant County, Texas;
THENCE S 89040'35"W, a distance of 268.00 feet continuing along said south line and
along the north line of said Cabrera tract to a 1/2" iron rod with cap stamped "Pierce -Murray
set for the northwest corner of said Cabrera tract and the northeast corner of that certain tract
of land described in deed to Ricardo Luis and Isabel Luis, as recorded in County Clerk's File
Number D219053112, Official Public Records, Tarrant County, Texas;
THENCE S 89037'54"W, a distance of 479.90 feet continuing along said south line and
along the north line of said Luis tract to a 1/2" iron rod found for the southwest corner of
said called 38.389 acre tract and being the northwest corner of said Luis tract and being a
southeast corner of the aforementioned McPherson Road Baptist Church tract;
THENCE N 00025'50"W, a distance of 151.96 feet along the common line of the west line of
said called
38.389 acre tract and the east line of said McPherson Road Baptist Church tract to a 1/2" iron
rod with cap stamped "Pierce -Murray set;
THENCE N 89031'28"E, a distance of 12.84 feet continuing along said common line to a
1/2" iron rod with cap stamped "Pierce -Murray set;
THENCE N 00028'32"W, a distance of 223.58 feet continuing along said common line
returning to the Point of Beginning and containing 1,729,081 square feet or 39.694 acres of
land, more or less.
Transportation Impact Fee Credit Agreement- CA-24-003 Page 8 of 14
South Oak Grove Estates Section 4 & 5 05/13/2025
EXHIBIT B
Map of Property: South Oak Grove Sections 4 & 5, PP-22-031
LOCATION MAP
MAPSCO NO. 106W
COUNCIL DISTRICT #8
SCALE: V- 3000'
0 3000
Transportation Impact Fee Credit Agreement- CA-24-003 Page 9 of 14
South Oak Grove Estates Section 4 & 5 05/13/2025
EXHIBIT C
Development Plan: South Oak Grove Preliminary Plat, PP-22-031
�•� ADDITIONAL R.O.W.
DEDICATION
rn
R.O.W.
DEDICATION
Transportation Impact Fee Credit Agreement- CA-24-003 Page 10 of 14
South Oak Grove Estates Section 4 & 5 05/13/2025
EXHIBIT D
Eligible Transportation Improvements
South Oak Grove Estates
Eligible Transportation Improvements for
Credit against Transportation Impact Fees
Development Plan Area
Right -of -Way Dedication &
Future Improvement Agreement
Eligible Improvements Reference # Limits
McPherson Boulevard FP-24-071 Right-of-way dedication from of
McPherson Boulevard
McPherson Road CFA24-0007 FIA for paving Improvement, 12
CSCO 61165 CPN 104283 streetlights and drainage
IPRC22-0152
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South Oak Grove Estates Section 4 & 5 05/13/2025
EXHIBIT E
Credits Against Transportation Impact Fees
South Oak Grove Sections 4 & 5
Transportation Impact Fee Credit Overview
Value of ROW Dedication
Instrument # Final Plat # Eligible Arterial Value
D225079503 FP-24-071 McPherson Boulevard $193,504.96
ROW Transportation Impact Fee Credit $193,504.96
Value of Future Improvement Agreement Construction Value
City Secretary # CFA/FIA # Eligible Arterial
CFA24-0007
61165 CPN 104283 McPherson Boulevard $1,205,360.00
IPRC22-0152
Total Transportation Impact Fee Credit $1,398,864.96
Transportation Impact Fee Credit Agreement- CA-24-003 Page 12 of 14
South Oak Grove Estates Section 4 & 5 05/13/2025
Right -of -Way Valuation for
South Oak Grove Sections 4 & 5
Valuation Method 1- Percentage of TIP Project Cost
Eligible Arterial
McPherson Blvd
2022 Transportation Improvements Plan Project Number
Z-16
Estimated Construction Costs from 2022 Transportation
$14,721,000
Improvements Plan
Value of Total Project Right -of -Way (20% of Construction
$2,944,200
Cost)
Total Project Length (LF)
7,625
Arterial Cross -Section Width (LF)
110
Additional ROW needed for Roundabout (SF)
$0
Total Project Right -of -Way (SF)
838,750
Right -of -Way Value Per Square Foot
$3.52
Valuation Method 2 - Percentage of Construction Project
Cost
Eligible Arterial
McPherson Blvd
City Project Number
104283
Final Construction Costs from Notice of Completion (Green
$1,205,360
Sheet)
Value of Total Project Right -of -Way (20% of Construction
$241,072
Cost)
Total Project Length (LF)
1319
Arterial Cross -Section Width (LF)
55
Additional ROW needed for Roundabout (SF)
0
Total Project Right -of -Way (SF)
72,545
Right -of -Way Value Per Square Foot
$3.33
Valuation Method 3 - TAD appraised value
TAD Value as of 08/9/2023
McPherson Blvd
TAD Account
42959452
Total Area (SF)
1,614,116
Appraised Value
$1,536,100.00
Value per Square Foot
$0.96
Right -of -Way Dedication
McPherson Blvd
Recording Instrument Number
D225079503
Final Plat Number
FP-24-071
Recording Date
05/05/2025
Total area of ROW dedicated (SF)
54,973
Value per SF
$3.52
ROW Credit Available
$193,504.96
Transportation Impact Fee Credit Agreement- CA-24-003 Page 13 of 14
South Oak Grove Estates Section 4 & 5 05/13/2025
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 South Oak Grove Preliminary Plat, PP-22-031.
ADDITIONAL R.O.W.
DEDICATION
Transportation Impact Fee Credit Agreement- CA-24-003 Page 14 of 14
South Oak Grove Estates Section 4 & 5 05/13/2025