HomeMy WebLinkAbout28474-04-2026 - City Council - Ordinance1
ORDINANCE NO.
AN ORDINANCE OF THE CITY OF FORT WORTH, TEXAS APPROVING A SERVICE AND
ASSESSMENT PLAN FOR THE FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 22
(VEALE RANCH); MAKING A FINDING OF SPECIAL BENEFIT TO THE PROPERTY IN
IMPROVEMENT AREA #4 AND IMPROVEMENT AREA #5 OF THE DISTRICT; LEVYING
SPECIAL ASSESSMENTS AGAINST PROPERTY WITHIN IMPROVEMENT AREA #4 AND
IMPROVEMENT AREA #5 OF THE DISTRICT; ESTABLISHING A LIEN ON SUCH
PROPERTY; APPROVING ASSESSMENT ROLLS FOR IMPROVEMENT AREA #4 AND
IMPROVEMENT AREA #5 OF THE DISTRICT; PROVIDING FOR THE METHOD OF
ASSESSMENT AND THE PAYMENT OF THE IMPROVEMENT AREA #4 AND
IMPROVEMENT AREA #5 SPECIAL ASSESSMENTS; PROVIDING FOR PENALTIES AND
INTEREST ON DELINQUENT ASSESSMENTS; PROVIDING FOR A SEVERABILITY
CLAUSE; PROVIDING AN EFFECTIVE DATE; AND PROVIDING FOR RELATED MATTERS
WHEREAS, Chapter 372, Texas Local Government Code (the “Act”) authorizes the governing
body (the “City Council”) of the City of Fort Worth, Texas (the “City”), to create a public improvement
district within the corporate limits and extraterritorial jurisdiction of the City; and
WHEREAS, on August 8, 2023, the City Council conducted a public hearing to consider a petition
received by the City on June 5, 2023 (the “Petition”) requesting the creation of the Fort Worth Public
Improvement District No. 22 (Veale Ranch) (the “District”) to undertake the construction of certain public
improvements described in the Petition (the “Authorized Improvements”); and
WHEREAS, on August 8, 2023, the City Council adopted Resolution No. 5782-08-2023
authorizing, establishing, and creating the District; and
WHEREAS, a portion of the property within the District, consisting of approximately 421.082
acres (“Improvement Area #4”) has been and continues to be developed; and
WHEREAS, a portion of property within the District, consisting of approximately 72.059 acres
(“Improvement Area #5”) has been and continues to be developed; and
WHEREAS, on March 10, 2026, the City Council adopted Resolution No. 6280-03-2026
determining the total estimated costs of the Authorized Improvements in Improvement Area #4 and
Improvement Area #5 of the District, directing the filing of proposed assessment rolls, directing the mailing
and publication of notice of a public hearing to be held on April 28, 2026 (the “Assessment Hearing”), to
consider the levying of the special assessments against the property within Improvement Area #4 and
Improvement Area #5 of the District, and directing related actions; and
WHEREAS, pursuant to directions from the City Council in Resolution No. 6280-03-2026, on or
before April 17, 2026, the City Secretary (i) published notice of the Assessment Hearing in the Fort Worth
Star-Telegram and (ii) mailed copies of such notice to the last known address of the owners of the property
liable for the special assessments, all in accordance with Sections 372.016(b) and (c) of the Act; and
WHEREAS, the City Council convened the Assessment Hearing at the City Council meeting
beginning at 11:00 a.m. on April 28, 2026, at which all persons who appeared, or requested to appear, were
given the opportunity to contend for or to contest the Fort Worth Public Improvement District No. 22 (Veale
Ranch) Service and Assessment Plan attached hereto as EXHIBIT A (the “Service and Assessment Plan”),
the Improvement Area #4 Assessment Roll in the form attached as APPENDIX G to the Service and
Assessment Plan (the “Improvement Area #4 Assessment Roll”), the Improvement Area #5 Assessment
2
Roll in the form attached as APPENDIX H to the Service and Assessment Plan (the “Improvement Area
#5 Assessment Roll” and, together with the Improvement Area #4 Assessment Roll, the “Assessment
Rolls”), the proposed Improvement Area #4 Assessments and Improvement Area #5 Assessments (each as
defined in the Service and Assessment Plan and, collectively, the “Assessments”) to be levied against the
property in Improvement Area #4 and Improvement Area #5 of the District as set forth in the Service and
Assessment Plan, and to offer testimony pertinent to any issue presented on the amount of the Assessments,
the apportionment of the costs of the Authorized Improvements that benefit Improvement Area #4 and
which are to be funded by the Assessments levied in Improvement Area #4 of the District (the
“Improvement Area #4 Funded Improvements”), the apportionment of the costs of the Authorized
Improvements that benefit Improvement Area #5 and which are to be funded by the Assessments levied in
Improvement Area #5 of the District (the “Improvement Area #5 Funded Improvements” and, together
with the Improvement Area #4 Funded Improvements, the “Funded Improvements”), the purpose of the
Assessments, the special benefits accruing to the property within Improvement Area #4 and Improvement
Area #5 of the District due to the Funded Improvements, and the penalties and interest of annual
installments and on delinquent annual installments of the Assessments; and
WHEREAS, the City Council finds and determines that the Assessment Rolls and the Service and
Assessment Plan each should be approved and that the Assessments should be levied against the property
in Improvement Area #4 and Improvement Area #5 as provided in this Ordinance and the Service and
Assessment Plan and the Assessment Rolls; and
WHEREAS, the Assessment Rolls and the Service and Assessment Plan are incorporated herein
for all purposes; and
WHEREAS, the City Council further finds that there were no written objections or evidence
submitted to the City Secretary in opposition to the Service and Assessment Plan, the apportionment of the
costs of the Funded Improvements, the Assessment Rolls, or the levy of the Assessments; and
WHEREAS, prior to the adoption of this Ordinance and the levy of the Assessments, the owners
of one hundred percent (100%) of the property located within Improvement Area #4 and Improvement Area
#5 of the District (the “Landowners”), executed and presented to the City staff for approval and acceptance
a landowner consent certificate (the “Landowner Consent Certificate”) in the form and substance
acceptable to the City and as set forth in the Development Agreement (as such term is defined in the Service
and Assessment Plan); and
WHEREAS, the City Council closed the Assessment Hearing, and after considering all comments
and all written and documentary evidence presented at the hearing, including all written comments and
statements filed with the City, determined to proceed with the adoption of this Ordinance in conformity
with the requirements of the Act; and
WHEREAS, the apportionment of the cost of the Funded Improvements and the corresponding
Annual Installments pursuant to the Service and Assessment Plan is fair and reasonable, reflects an accurate
presentation of the special benefit each property will receive from the administrative services and
construction of the Funded Improvements identified in the Service and Assessment Plan, and is hereby
approved; and
WHEREAS, the Service and Assessment Plan covers a period of at least five years and defines the
annual indebtedness and projected costs for the Funded Improvements and Administrative Expenses
associated with Improvement Area #4 and Improvement Area #5; and
3
WHEREAS, the Service and Assessment Plan apportions the cost of the Funded Improvements
and Administrative Expenses to be assessed against property in Improvement Area #4 and Improvement
Area #5 of the District and such apportionment is made on the basis of special benefits accruing to the
property because of the Funded Improvements and the corresponding Administrative Expenses; and
WHEREAS, all of the real property in the District that is being assessed in the amounts shown in
the Assessment Rolls will be benefitted by the services and improvements proposed to be provided through
the District in the Service and Assessment Plan, and each parcel of such real property will receive special
benefits in each year equal to or greater than each Annual Installment of the Assessments and will receive
special benefits during the term of the Assessments equal to or greater than the total amount assessed;
WHEREAS, the method of apportionment of the cost of the Funded Improvements, Administrative
Expenses, and Annual Installments associated with the Improvement Area #4 Bonds and the Improvement
Area #5 Bonds set forth in the Service and Assessment Plan results in imposing equal shares of the costs of
the Funded Improvements and corresponding Administrative Expenses on property similarly benefitted,
and results in a reasonable classification and formula for apportionment of such costs;
WHEREAS, the City Council finds that the Service and Assessment Plan should be approved as
the service plan and assessment plan for the District as described in Sections 372.013 and 372.014 of the
Act;
WHEREAS, the City Council finds that the Assessment Rolls should be approved as the
assessment rolls for Improvement Area #4 and Improvement Area #5 of the District;
WHEREAS, the City Council finds that the provisions of the Service and Assessment Plan relating
to due and delinquency dates for the Assessments and the Annual Installments, interest and penalties on
delinquent Assessments and Annual Installments and procedures in connection with the imposition and
collection of the Assessments should be approved and will expedite collection of such Assessments in a
timely manner in order to provide the services and improvements needed and required for Improvement
Area #4 and Improvement Area #5 of the District; and
WHEREAS, the Assessments herein levied and assessed are made and levied under and by virtue
of the terms, powers and provisions of the Act.
NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH, TEXAS THAT:
Section 1. Findings.
The findings, determinations and recitations set out in the preambles of this Ordinance are found
to be true and correct and they are hereby adopted by the City Council and made a part hereof for all
purposes.
Section 2. Public Hearing.
The action of the City Council holding and closing the public hearing in these proceedings is hereby
ratified and confirmed.
Section 3. Terms.
Terms not otherwise defined herein are defined in the Service and Assessment Plan.
4
Section 4. Service and Assessment Plan.
The Service and Assessment Plan substantially in the form attached to this Ordinance is hereby
accepted and approved pursuant to Sections 372.013 and 372.014 of the Act as the service and assessment
plan for the District.
Section 5. Assessment Rolls.
The Improvement Area #4 Assessment Roll attached as APPENDIX G to the Service and
Assessment Plan is hereby approved as the assessment roll for Improvement Area #4 of the District.
The Improvement Area #5 Assessment Roll attached as APPENDIX H to the Service and
Assessment Plan is hereby approved as the assessment roll for Improvement Area #5 of the District.
Section 6. Levy and Payment of Assessments for Costs of Improvement Area #4 Funded
Improvements.
(a) The City Council hereby levies an assessment on each tract of property located within
Improvement Area #4 of the District, except for the Non-Benefited Property, if any, as shown and described
in the Service and Assessment Plan and the Improvement Area #4 Assessment Roll, in the respective
amounts shown on the Improvement Area #4 Assessment Roll. There is further levied and assessed against
each tract of property located within Improvement Area #4 of the District, except for the Non-Benefitted
Property, if any, having not paid the assessments in full, additional annual assessments for the
Administrative Expenses, as described in the Service and Assessment Plan, which shall be part of the
Improvement Area #4 Assessments and the Annual Installments thereof. The amount of the Annual
Installments for the Improvement Area #4 Assessments shall be reviewed and determined annually by the
City Council following the City Council’s annual review of the Service and Assessment Plan for the
District. Pursuant to Section 372.015(d) of the Act, the amount of assessment for each property owner may
be adjusted following the annual review of the Service and Assessment Plan.
(b) The levy of the Improvement Area #4 Assessments shall be effective on the date of adoption of
this Ordinance levying assessments and strictly in accordance with the terms of the Service and Assessment
Plan and the Act.
(c) The collection of the Improvement Area #4 Assessments shall be as described in the Service
and Assessment Plan and the Act.
(d) Each Improvement Area #4 Assessment may be paid in a lump sum or may be paid in Annual
Installments pursuant to the terms of the Service and Assessment Plan.
(e) Each Improvement Area #4 Assessment shall bear interest at the rate or rates specified in the
Service and Assessment Plan.
(f) Each Annual Installment of the Improvement Area #4 Assessments shall be collected each year
in the manner set forth in the Service and Assessment Plan.
(g) The Annual Installments of the Improvement Area #4 Assessments levied against the
Improvement Area #4 Assessed Property shall be calculated pursuant to the terms of the Service and
Assessment Plan.
5
Section 7. Levy and Payment of Assessments for Costs of Improvement Area #5 Funded
Improvements.
(a) The City Council hereby levies an assessment on each tract of property located within
Improvement Area #5 of the District, except for the Non-Benefited Property, if any, as shown and described
in the Service and Assessment Plan and the Improvement Area #5 Assessment Roll, in the respective
amounts shown on the Improvement Area #5 Assessment Roll. There is further levied and assessed against
each tract of property located within Improvement Area #5 of the District, except for the Non-Benefitted
Property, if any, having not paid the assessments in full, additional annual assessments for the
Administrative Expenses, as described in the Service and Assessment Plan, which shall be part of the
Improvement Area #5 Assessments and the Annual Installments thereof. The amount of the Annual
Installments for the Improvement Area #5 Assessments shall be reviewed and determined annually by the
City Council following the City Council’s annual review of the Service and Assessment Plan for the
District. Pursuant to Section 372.015(d) of the Act, the amount of assessment for each property owner may
be adjusted following the annual review of the Service and Assessment Plan.
(b) The levy of the Improvement Area #5 Assessments shall be effective on the date of adoption of
this Ordinance levying assessments and strictly in accordance with the terms of the Service and Assessment
Plan and the Act.
(c) The collection of the Improvement Area #5 Assessments shall be as described in the Service
and Assessment Plan and the Act.
(d) Each Improvement Area #5 Assessment may be paid in a lump sum or may be paid in Annual
Installments pursuant to the terms of the Service and Assessment Plan.
(e) Each Improvement Area #5 Assessment shall bear interest at the rate or rates specified in the
Service and Assessment Plan.
(f) Each Annual Installment of the Improvement Area #5 Assessments shall be collected each year
in the manner set forth in the Service and Assessment Plan.
(g) The Annual Installments of the Improvement Area #5 Assessments levied against the
Improvement Area #5 Assessed Property shall be calculated pursuant to the terms of the Service and
Assessment Plan.
Section 8. Method of Assessment.
The method of apportioning the Actual Costs of the Funded Improvements and the corresponding
Administrative Expenses is set forth in the Service and Assessment Plan.
Section 9. Penalties and Interest on Delinquent Special Assessments.
Delinquent Assessments shall be subject to the penalties, interest, procedures, and foreclosure sales
set forth in the Service and Assessment Plan and as allowed by law and such enforcement. The Assessments
shall have lien priority as specified in the Act and the Service and Assessment Plan.
6
Section 10. Prepayments of Assessments.
As provided in Section 372.018(f) of the Act and Section VI.I of the Service and Assessment Plan,
the owner (the “Owner”) of any Improvement Area #4 Assessed Property and/or Improvement Area #5
Assessed Property may prepay the Assessments levied by this Ordinance.
Section 11. Lien Property.
(a) The City Council and each of the Landowners in Improvement Area #4 and Improvement Area
#5 of the District intend for the obligations, covenants, and burdens on such landowners of Improvement
Area #4 Assessed Property and Improvement Area #5 Assessed Property, including without limitation such
landowner’s obligations related to payment of the Assessments and the Annual Installments thereof, to
constitute a covenant running with the land. The Assessments and the Annual Installments thereof levied
hereby shall be binding upon the landowner, the Owners, and their respective transferees, legal
representatives, heirs, devisees, successors and assigns in the same manner and for the same period as such
parties would be personally liable for the payment of ad valorem taxes under applicable law. The
Assessments and the Annual Installments thereof shall have lien priority as specified in the Service and
Assessment Plan and the Act.
(b) The Assessments and Annual Installments levied and assessed against the Improvement Area #4
Assessed Property and Improvement Area #5 Assessed Property as provided in this Ordinance and the
Service and Assessment Plan, together with reasonable attorney’s fees and costs of collection, if incurred,
are hereby declared to be and are made a lien upon each tract of property within the District against which
the same are levied and assessed, and a personal liability and charge against the real and true owners of
such lot, including the successors and assigns, whether such owners be named herein or not, and said liens
shall be and constitute the first enforceable lien and claim against the lot on which such assessments are
levied, and shall be a first and paramount lien thereon, superior to all other liens and claims except state,
county, school district and municipal ad valorem taxes. The City Council hereby authorizes enforcement
of such lien in the manner set forth herein and in the Act.
Section 12. Appointment of Administrator and Collector of Assessments.
(a) MuniCap, Inc., of Columbia, Maryland, is hereby appointed and designated as the initial
administrator of the Service and Assessment Plan and of the Assessments levied by this Ordinance (the
“Administrator”). The Administrator shall perform the duties of the Administrator described in the Service
and Assessment Plan and in this Ordinance. The City has entered into a PID Administration Services
Agreement with MuniCap, Inc. The Administrator’s fees, charges, and expenses for providing such service
shall be part of the Annual Installments of the Assessments, as further described in the Service and
Assessment Plan. The City may appoint and designate another administrator at any time.
(b) The Chief Financial Officer / Director of Financial Management Services of the City or that
person’s designee is hereby appointed as the temporary collector of the Special Assessments. The Chief
Financial Officer / Director of Financial Management Services or designee shall serve in such capacity until
such time as the City shall arrange for the collection duties to be performed by the Tarrant or Parker County
Tax Assessors or any other qualified collection agent selected by the City.
Section 13. Applicability of Tax Code.
To the extent not inconsistent with this Ordinance, and not inconsistent with the Act or the other
laws of the State of Texas governing public improvement districts, the provisions of the Texas Tax Code
governing enforcement of ad valorem tax liens (other than with respect to property subject to agriculture
7
use valuation, including redemption rights following a tax sale) shall be applicable to the imposition and
collection of the Assessments by the City, and the Texas Tax Code shall otherwise be applicable to the
extent provided by the Act.
Section 14. Severability.
If any provision of this Ordinance or the application of any provision to any person or circumstance
is held invalid, the invalidity shall not affect other provisions or applications of the Ordinance which can
be given effect without the invalid provision or application, and to this end the provisions of this Ordinance
are declared to be severable.
Section 15. Effective Date.
This Ordinance shall take effect, and the levy of the Assessments shall become effective, from and
after its date of passage in accordance with the law.
Section 16. Open Meetings.
It is hereby officially found and determined that the meeting at which this Ordinance is passed was
open to the public as required and that public notice of the time, place, and purpose of said meeting was
given as required by the Texas Open Meetings Act.
Section 17. Filing in Land Records.
The City Secretary is directed to cause a copy of this Ordinance, including the Service and
Assessment Plan, to be recorded in the real property records of Tarrant County and Parker County, Texas
within seven (7) days after the date of the adoption of this Ordinance. The City Secretary is further directed
to similarly file each Annual Service Plan Update approved by the City Council.
[Signature Page Follows]
Signature Page to Assessment Ordinance
ATTEST:
_____________________________
Jannette Goodall, City Secretary
AND IT IS SO ORDAINED.
APPROVED AS TO FORM AND LEGALITY:
_______________________________
Assistant City Attorney
M&C:
EXHIBIT A
SERVICE AND ASSESSMENT PLAN
FORT WORTH
PUBLIC IMPROVEMENT DISTRICT
NUMBER 22
(VEALE RANCH)
CITY OF FORT WORTH, TEXAS
SERVICE AND ASSESSMENT PLAN
April 28, 2026
PREPARED BY:
FORT WORTH
PUBLIC IMPROVEMENT DISTRICT
NUMBER 22
(VEALE RANCH)
SERVICE AND ASSESSMENT PLAN
TABLE OF CONTENTS
I.PLAN DESCRIPTION AND DEFINED TERMS ................................................................... 4
A. INTRODUCTION ........................................................................................................................... 4
B. DEFINITIONS ............................................................................................................................... 5
II.PROPERTY INCLUDED IN THE PID ............................................................................ 14
A. PROPERTY INCLUDED IN THE PID .............................................................................................. 14
B. PROPERTY INCLUDED IN IMPROVEMENT AREA #4 ..................................................................... 15
C. PROPERTY INCLUDED IN IMPROVEMENT AREA #5 ..................................................................... 15
D. PROPERTY INCLUDED IN FUTURE IMPROVEMENT AREAS .......................................................... 15
III.DESCRIPTION OF THE AUTHORIZED IMPROVEMENTS ............................................. 17
A. AUTHORIZED IMPROVEMENT OVERVIEW .................................................................................. 17
B. DESCRIPTIONS AND BUDGETED COSTS OF IMPROVEMENT AREA #4 IMPROVEMENTS ................ 18
C. DESCRIPTIONS AND BUDGETED COSTS OF IMPROVEMENT AREA #5 IMPROVEMENTS ................20
D. FUTURE IMPROVEMENT AREAS ..................................................................................................22
IV. SERVICE PLAN ........................................................................................................ 23
A. PROJECTED SOURCES AND USES OF FUNDS ................................................................................23
B. PROJECTED FIVE-YEAR SERVICE PLAN .....................................................................................25
C. PIDASSESSMENT NOTICE ..........................................................................................................27
V. ASSESSMENT PLAN ................................................................................................... 28
A. INTRODUCTION ..........................................................................................................................28
B. SPECIAL BENEFIT .......................................................................................................................30
C. ASSESSMENT METHODOLOGY ....................................................................................................32
D. ASSESSMENTS .............................................................................................................................33
E. ADMINISTRATIVE EXPENSES ......................................................................................................34
F. ADDITIONAL INTEREST RESERVE ...............................................................................................34
G. TIRZ ANNUAL CREDIT ..............................................................................................................34
VI. TERMS OF THE ASSESSMENTS ................................................................................. 35
A. AMOUNT OF ASSESSMENTS AND ANNUAL INSTALLMENTS FOR PARCELS LOCATED WITHIN
IMPROVEMENT AREA #4 ...........................................................................................................35
B. AMOUNT OF ASSESSMENTS AND ANNUAL INSTALLMENTS FOR PARCELS LOCATED WITHIN
IMPROVEMENT AREA #5 ...........................................................................................................35
C. AMOUNT OF ASSESSMENTS AND ANNUAL INSTALLMENTS FOR PARCELS LOCATED WITHIN
FUTURE IMPROVEMENT AREAS.................................................................................................36
D. REALLOCATION OF ASSESSMENTS .............................................................................................36
E. MANDATORY PREPAYMENT OF ASSESSMENTS ...........................................................................37
F. REDUCTION OF ASSESSMENTS ....................................................................................................37
G. PAYMENT OF ASSESSMENTS .......................................................................................................38
H. COLLECTION OF ANNUAL INSTALLMENTS ................................................................................. 41
VII. THE ASSESSMENT ROLL ........................................................................................ 42
A. IMPROVEMENT AREA #4 ASSESSMENT ROLL .............................................................................42
B. IMPROVEMENT AREA #5 ASSESSMENT ROLL .............................................................................43
C. FUTURE IMPROVEMENT AREAS ASSESSMENT ROLL ..................................................................44
D. ANNUAL ASSESSMENT ROLL UPDATES .......................................................................................44
VIII. MISCELLANEOUS PROVISIONS ........................................................................... 45
A. ADMINISTRATIVE REVIEW .........................................................................................................45
B. TERMINATION OF ASSESSMENTS ................................................................................................45
C. AMENDMENTS ............................................................................................................................45
D. COUNTY FILING .........................................................................................................................46
E. ADMINISTRATION AND INTERPRETATION OF PROVISIONS ..........................................................46
F. SEVERABILITY ............................................................................................................................46
APPENDIX A-1 PID MAP
APPENDIX A-2 IMPROVEMENT AREA #4 MAP
APPENDIX A-3 IMPROVEMENT AREA #5 MAP
APPENDIX A-4 FUTURE IMPROVEMENT AREA
APPENDIX B BUDGETED COSTS OF THE AUTHORIZED IMPROVEMENTS
APPENDIX C-1 IMPROVEMENT AREA #4 LEGAL DESCRIPTION
APPENDIX C-2 IMPROVEMENT AREA #5 LEGAL DESCRIPTION
APPENDIX D DIAGRAMS OF THE AUTHORIZED IMPROVEMENTS
APPENDIX E PIDASSESSMENT NOTICE
APPENDIX F ASSESSMENT PER UNIT, PROJECTED LEVERAGE AND PROJECTED TAX
RATE EQUIVALENTS
APPENDIX G IMPROVEMENT AREA #4 ASSESSMENT ROLL
APPENDIX H IMPROVEMENT AREA #5 ASSESSMENT ROLL
MuniCap |4
I. PLAN DESCRIPTION AND DEFINED TERMS
A. INTRODUCTION
On August 8, 2023, the City Council of the City of Fort Worth, Texas (the City) passed and
approved Resolution No. 5782-08-2023 approving and authorizing the creation of the Fort Worth
Public Improvement District No. 22 (Veale Ranch) (the PID) to finance the costs of certain
public improvements for the benefit of certain property in the PID, which was located both within
the corporate limits of the City and in the extraterritorial jurisdiction of the City at the time the PID
was created.
The property within the PID is proposed to be developed in multiple phases, and the PID will
finance certain public improvements as the property within the PID is developed. Assessments
will be imposed on the property within the PID that receives a special benefit from certain
Authorized Improvements.
Chapter 372 of the Texas Local Government Code, the Public Improvement District Assessment
Act (as amended, the PID Act), governs the creation and operation of public improvement
districts within the State of Texas. This Fort Worth Public Improvement District No. 22 (Veale
Ranch) Service and Assessment Plan (the Service and Assessment Plan) has been prepared in
accordance with the PID Act and specifically Sections 372.013, 372.014, 372.015 and 372.016,
which address the requirements of a service and assessment plan and the assessment roll.
According to Section 372.013 of the PID Act, a service plan must (1) cover a period of at least
five years; (2) define the annual indebtedness and the projected costs for improvements; and (3)
include a copy of the notice form required by Section 5.014, Property Code. Additionally, Section
372.013 of the PID Act provides that [t]he governing body of the municipality or county shall
review and update the service plan annually for the purpose of determining the annual budget for
improvements. The service plan is described in Section IV of this Service and Assessment Plan.
The copy of the notice form required by Section 5.014 of the Texas Property Code, as amended,
is attached hereto as Appendix E.
Section 372.014 of the PID Act provides that [a]n assessment plan must be included in the annual
service plan. The assessment plan is described in Section V of this Service and Assessment Plan.
Section 372.015 of the PID Act provides that [t]he governing body of the municipality or county
shall apportion the cost of an improvement to be assessed against property in an improvement
district. The method of assessing the costs of the Authorized Improvements and apportionment
of such costs to the property within the PID is included in Section V of this Service and
Assessment Plan.
Section 372.016 of the PID Act provides that [a]fter the total cost of an improvement is
determined, the governing body of the municipality or county shall prepare a proposed assessment
roll. The roll must state the assessment against each parcel of land in the district, as determined
by the method of assessment chosen by the municipality or county under this subchapter. The
Improvement Area #4 Assessment Roll and the Improvement Area #5 Assessment Roll are
included as Appendix G and Appendix H, respectively, to this Service and Assessment Plan. The
MuniCap |5
Assessments as shown on such Assessment Rolls are based on the method of assessment and
apportionment of costs described in Section V of this Service and Assessment Plan.
B. DEFINITIONS
Capitalized terms used herein shall have the meanings ascribed to them as follows:
Actual Cost(s) means, with respect to an Authorized Improvement, the demonstrated,
reasonable, allocable, and allowable costs of constructing such Authorized Improvement, as
specified in a Certificate for Payment that has been reviewed and approved by the City. Actual
Costs may include (a) the costs for the design, planning, financing, administration, management,
acquisition, installation, construction and/or implementation of such Authorized Improvement,
including general contractor and construction management fees, if any, (b) the costs of preparing
the construction plans for such Authorized Improvement, (c) the fees paid for obtaining permits,
licenses or other governmental approvals for such Authorized Improvement, (d) the costs for
external professional costs associated with such Authorized Improvement, such as engineering,
geotechnical, surveying, land planning, architectural landscapers, advertising, marketing and
research studies, appraisals, legal, accounting and similar professional services, taxes (e) the costs
of all labor, bonds and materials, including equipment and fixtures, incurred by contractors,
builders and material men in connection with the acquisition, construction or implementation of
the Authorized Improvements, (f) all related permitting, zoning and public approval expenses,
architectural, engineering, legal, and consulting fees, financing charges, taxes, governmental fees
and charges (including inspection fees, City permit fees, plan review fees, material testing fees,
water lab fees, development fees, capacity fees and per acre charges), insurance premiums, and
miscellaneous expenses, and (g) the fair market value of any Property for which easements, road
right-of-way or landscaping facilities has been dedicated to the City as an Authorized
Improvement.
Actual Costs include general contractors fees in an amount up to a percentage equal to the
percentage of work completed and accepted by the City or construction management fees in an
amount up to five percent of the eligible Actual Costs described in a payment request in a form
that has been reviewed and approved by the City. The amounts expended on legal costs, taxes,
governmental fees, insurance premiums, permits, financing costs, and appraisals shall be excluded
from the base upon which the general contractor and construction management fees are calculated.
Additional Interest Component means the amount collected by application of the Additional
Interest Rate.
Additional Interest Rate means the 0.50% additional interest rate charged on Assessments
pursuant to Section 372.018 of the PID Act.
Additional Interest Reserve has the meaning set forth in Section V.G of this Service and
Assessment Plan.
Administrative Expenses means the costs associated with, or incident to, the administration,
organization, maintenance and operation of the PID, including, but not limited to, the costs of: (i)
MuniCap |6
creating and organizing the PID, including conducting hearings, preparing notices and petitions,
and all costs incident thereto, including engineering fees, legal fees and consultant fees, (ii) the
annual administrative, organization, maintenance, and operation costs and expenses associated
with, or incident and allocable to, the administration, organization, maintenance, and operation of
the PID and the Authorized Improvements, (iii) computing, levying, billing and collecting
Assessments or the Annual Installments thereof, (iv) maintaining the record of installments of the
Assessments and the system of registration and transfer of the Bonds, (v) paying and redeeming
the Bonds, (vi) investing or depositing of monies, (vii) complying with the PID Act and other
laws applicable to the Bonds, (viii) the Trustee fees and expenses relating to the Bonds, including
reasonable fees, (ix) legal counsel, engineers, accountants, financial advisors, investment bankers
or other consultants and advisors, and (x) administering the construction of the Authorized
Improvements. Administrative Expenses do not include payment of the actual principal of,
redemption premium, if any, and interest on the Bonds. Administrative Expenses collected and
not expended for actual Administrative Expenses in one year shall be carried forward and applied
to reduce Administrative Expenses in subsequent years to avoid the over-collection of amounts to
pay Administrative Expenses.
Administrator means an employee of the City or third-party designee of the City who shall
have the responsibilities provided in this the Service and Assessment Plan, a Trust Indenture, or
any other agreement or document approved by the City related to the duties and responsibilities
of the administration of the PID. The initial Administrator is MuniCap, Inc.
Annual Installment means, with respect to each Parcel of Assessed Property, each annual
payment of: (i) the Assessments including both principal of and interest thereon, as shown on the
applicable Assessment Roll attached hereto (or any Annual Service Plan Update, and calculated
as provided in Section VI of this Service and Assessment Plan, (ii) the Additional Interest
Component described in Section V of this Service and Assessment Plan, and (iii) Administrative
Expenses.
Annual Service Plan Update has the meaning set forth in Section IV.A of this Service and
Assessment Plan.
Assessed Property means any property that benefits from the Authorized Improvements within
the PID on which Assessments have been imposed as shown in the applicable Assessment Roll,
as such Assessment Roll is updated each year by the Annual Service Plan Update. Assessed
Property includes all Parcels within the PID other than Non-Benefited Property.
Assessment means an assessment levied against a Parcel of Assessed Property imposed
pursuant to an Assessment Ordinance and the provisions hereof, as shown on the applicable
Assessment Roll, subject to reallocation or reduction according to the provisions hereof and the
PID Act. An Assessment for a Parcel of Assessed Property consists of the Annual Installments to
be collected in all years including the portion of those Annual Installments collected to pay
Administrative Expenses and interest (including the Additional Interest Component) on all
Assessments.
MuniCap |7
Assessment Ordinance means each ordinance adopted by the City Council approving this
Service and Assessment Plan (including amendments or supplements to this Service and
Assessment Plan) and levying Assessments against Assessed Property, and includes the
Improvement Area #4 Assessment Ordinance, the Improvement Area #5 Assessment Ordinance
and all Future Improvement Area Assessment Ordinances.
Assessment Revenues means the revenues actually received by or on behalf of the City from
the collection of Assessments.
Assessment Roll means the Improvement Area #4 Assessment Roll, the Improvement Area #5
Assessment Roll, and all Future Improvement Area Assessment Rolls approved in an amendment
or supplement to this Service and Assessment Plan or in an Annual Service Plan Update.
Authorized Improvements means those public improvements described in Appendix B of this
Service and Assessment Plan and Section 372.003 of the PID Act, constructed and installed in
accordance with this Service and Assessment Plan, and any future updates and/or amendments.
Bonds means any bonds issued by the City in one or more series and secured in whole or in
part by the Assessment Revenues.
Budgeted Cost(s) means the amounts budgeted to construct the Authorized Improvements as
used in the preparation of this Service and Assessment Plan.
Certification for Payment means the certificate to be provided by the Developer, or its
designee, to substantiate the Actual Costs of one or more Authorized Improvements.
City means the City of Fort Worth, Texas.
City Council means the duly elected governing body of the City.
County means Tarrant County, Texas or Parker County, Texas.
Delinquent Collection Costs means the costs related to the foreclosure on a Parcel of Assessed
Property and the costs of collection of a delinquent Assessment or any other delinquent amounts
due under this Service and Assessment Plan, all in accordance with the PID Act, including
penalties and reasonable attorneys fees actually paid, but excluding amounts representing interest
and penalty interest.
Developer means the applicable Original Owner of an Improvement Area and any authorized
assignee pursuant to the Development Agreement.
Development Agreement means that certain Veale Ranch Development Agreement by and
among the Original Owners and the City, related to the property within the PID, and effective as
of March 9, 2023, as amended, supplemented, or assigned from time to time.
MuniCap |8
Equivalent Units means, as to any Parcel of Assessed Property, the number of dwelling units
by Lot Type expected to be built on such Parcel multiplied by the factors calculated and shown in
Appendix F attached hereto.
Future Improvement Area means an Improvement Area to be defined and developed after
Improvement Area #1, #2, and #3, Improvement Area #4, and Improvement Area #5, and within
the boundaries of the PID (but which are not subject to development at this time).
Future Improvement Area Assessed Property means all Parcels of Assessed Property within
the Future Improvement Area.
Future Improvement Area Assessment means an Assessment levied against Future
Improvement Area Assessed Property to pay for a portion of the Future Improvement Area
Improvements and imposed pursuant to a Future Improvement Area Assessment Ordinance and
the provisions herein, as shown on a Future Improvement Area Assessment Roll, subject to
reallocation or reduction pursuant to the provisions set forth herein and in the PID Act.
Future Improvement Area Assessment Ordinance means each ordinance adopted by the
City Council that levies a Future Improvement Area Assessment against Future Improvement
Area Assessed Property.
Future Improvement Area Assessment Roll means the Assessment Roll that will be attached
to this Service and Assessment Plan in conjunction with the adoption of a Future Improvement
Area Assessment Ordinance.
Future Improvement Area Bonds means bonds issued to fund Future Improvement Area
Improvements (or a portion thereof) in a Future Improvement Area that are secured in whole or in
part by Future Improvement Area Assessments. In connection with Future Improvement Area
Bonds, Future Improvement Area Assessments related to such Future Improvement Area Bonds,
Future Improvement Area Assessments will be levied only on Assessed Property located within
the applicable Future Improvement Area to finance Future Improvement Area Improvements
which will only benefit such Future Improvement Area.
Future Improvement Area Improvements means those Authorized Improvements which will
confer a special benefit to the related Future Improvement Area.
Future Improvement Area Reimbursement Agreement means any reimbursement
agreement related to the Actual Costs of Future Improvement Area Improvements to be paid from
Future Improvement Area Assessments secured by the Future Improvement Area Assessed
Property for the Future Improvement Area Improvements under the terms of the Master
Reimbursement Agreement.
Homeowners Association means a homeowners association or property owners association
established for the benefit of property owners within the boundaries of the PID.
MuniCap |9
Homeowners Association Property means property within the boundaries of the PID that is
owned by or irrevocably offered for dedication to, whether in fee simple or through an exclusive
use easement, a Homeowners Association.
Improvement Area means one or more Parcels within the PID that will be developed in the
same general time period. The Parcels within an Improvement Area or will be assessed in
connection with the issuance of Bonds to fund Authorized Improvements (or the portion thereof)
designated in an update to this Service and Assessment Plan that specially benefit the Parcels
within the Improvement Area.
Improvement Area Reimbursement Agreements means, collectively, the Improvement
Area #4 Reimbursement Agreement, the Improvement Area #5 Reimbursement Agreement and
all Future Improvement Area Reimbursement Agreements.
Improvement Areas #1, #2, and #3 means the Improvement Areas developed as depicted in
Appendix A-1 and are not anticipated to have an Assessment imposed upon them.
Improvement Area #4 or IA #4 means the improvement area to be developed as depicted
in Appendix A-2, and as specifically described as the sum of all Parcels shown in Appendix G.
Improvement Area #4 Assessed Property means all Parcels of Assessed Property within
Improvement Area #4 as shown in the Improvement Area #4 Assessment Roll against which an
Improvement Area #4 Assessment relating to the Improvement Area #4 Improvements is levied.
Improvement Area #4 Assessment means an Assessment levied against Improvement
Area #4 Assessed Property to pay for a portion of the Improvement Area #4 Improvements and
imposed pursuant to the Improvement Area #4 Assessment Ordinance and the provisions herein,
as shown on the Improvement Area #4 Assessment Roll, subject to reallocation or reduction
pursuant to the provisions set forth herein and in the PID Act.
Improvement Area #4 Assessment Ordinance means Ordinance No. _____ approved and
adopted by the City Council on _____, 2026, which levied the Improvement Area #4 Assessment
against the Improvement Area #4 Assessed Property, and approved this Service and Assessment
Plan.
Improvement Area #4 Assessment Revenues mean the actual revenues received by or on
behalf of the City from the collection of Improvement Area #4 Assessments or the Annual
Installments thereof.
Improvement Area #4 Assessment Roll means the document attached to this Service and
Assessment Plan as Appendix G, as updated, modified or amended from time to time in
accordance with the procedures set forth herein and in the PID Act, including updates prepared in
connection with the issuance of Bonds or in connection with any Annual Service Plan Update.
Improvement Area #4 Bonds mean those certain City of Fort Worth, Texas, Special
Assessment Revenue Bonds, Series 2026 (Fort Worth Public Improvement District No. 22 (Veale
MuniCap |10
Ranch) Improvement Area #4 Project) that are secured primarily by Improvement Area #4
Assessment Revenues. The term Improvement Area #4 Bonds may also include any additional
bonds issued in the future to construct or acquire the Improvement Area #4 Improvements
currently being constructed pursuant to the Master Reimbursement Agreement and the
Improvement Area #4 Reimbursement Agreement and which, if issued, will also be secured by
the Improvement Area #4 Assessment Revenues.
Improvement Area #4 Developer means FW Club LP and FW Maverick Development LLC,
its successors and assigns.
Improvement Area #4 Improvements means the Authorized Improvements which only
benefit the Improvement Area #4, which are described in Section III.B.
Improvement Area #4 Reimbursement Agreement means the reimbursement agreement
related to the Actual Costs of the Improvement Area #4 Improvements to be paid from
Improvement Area #4 Assessments secured by the Improvement Area #4 Assessed Property for
the Improvement Area #4 Improvements under the terms of the Master Reimbursement
Agreement.
Improvement Area #5 or IA #5 means the improvement area to be developed as depicted
in Appendix A-3, and as specifically described as the sum of all Parcels shown in Appendix H.
Improvement Area #5 Assessed Property means all Parcels of Assessed Property within
Improvement Area #5, as shown in the Improvement Area #5 Assessment Roll against which an
Improvement Area #5 Assessment relating to the Improvement Area #5 Improvements is levied.
Improvement Area #5 Assessment means an Assessment levied against Improvement
Area #5 Assessed Property to pay for a portion of the Improvement Area #5 Improvements and
imposed pursuant to the Improvement Area #5 Assessment Ordinance and the provisions herein,
as shown on the Improvement Area #5 Assessment Roll, subject to reallocation or reduction
pursuant to the provisions set forth herein and in the PID Act.
Improvement Area #5 Assessment Ordinance means Ordinance No. _____ approved and
adopted by the City Council on _____, 2026, which levied the Improvement Area #5 Assessment
against the Improvement Area #5 Assessed Property.
Improvement Area #5 Assessment Revenues mean the actual revenues received by or on
behalf of the City from the collection of Improvement Area #5 Assessments levied against
Improvement Area #5 Assessed Property, or the Annual Installments thereof.
Improvement Area #5 Assessment Roll means the document attached to this Service and
Assessment Plan as Appendix H, as updated, modified or amended from time to time in
accordance with the procedures set forth herein and in the PID Act, including updates prepared in
connection with the issuance of Bonds or in connection with any Annual Service Plan Update.
MuniCap |11
Improvement Area #5 Bonds mean those certain City of Fort Worth, Texas, Special
Assessment Revenue Bonds, Series 2026 (Fort Worth Public Improvement District No. 22 (Veale
Ranch Improvement Area #5 Project) that are secured primarily by Improvement Area #5
Assessment Revenues. The term Improvement Area #5 Bonds may also include any additional
bonds issued in the future to construct or acquire the Improvement Area #5 Improvements
currently being constructed pursuant to the Master Reimbursement Agreement and the
Improvement Area #5 Reimbursement Agreement and which, if issued, will also be secured by
the Improvement Area #5 Assessment Revenues.
Improvement Area #5 Developer means PMB Ventana Developer South LLC and PMB
SWFW Dev Co Manager LLC, its successors and assigns.
Improvement Area #5 Improvements means the Authorized Improvements which only
benefit the Improvement Area #5, which are described in Section III.C.
Improvement Area #5 Reimbursement Agreement means the reimbursement agreement
related to the Actual Costs of the Improvement Area #5 Improvements to be paid from
Improvement Area #5 Assessments secured by the Improvement Area #5 Assessed Property for
the Improvement Area #5 Improvements under the terms of the Master Reimbursement
Agreement.
Lot means a tract of land described as a lot in a subdivision plat recorded in the official public
records of the applicable County.
Lot Type means a classification of final building lots with similar characteristics (e.g.,
commercial, light industrial, multifamily residential, single family residential, etc.), as determined
by the Administrator and confirmed by the City Council as shown in Appendix F. In the case of
single-family residential lots, the Lot Type shall be further defined by classifying the residential
lots by the estimated average home value for each home at the time of assessment levy,
considering factors such as density, lot size, proximity to amenities, view premiums, location, and
any other factors that may impact the average home value on the lot, as determined by the
Administrator and confirmed by the City Council.
Master Reimbursement Agreement means that certain Veale Ranch Development Master
Reimbursement Agreement dated as of December 7, 2023, by and among the City and the Original
Owners in which the applicable Developer agrees to fund Actual Costs of certain Authorized
Improvements and the City agrees to reimburse the Developer with interest permitted by the PID
Act solely from Assessment Revenues and/or the net proceeds of Bonds for a portion of such
Actual Costs of the Authorized Improvements funded by the Developer for Authorized
Improvements constructed and accepted by the City for the benefit of the Assessed Property.
Non-Benefited Property means Parcels that accrue no special benefit from the Authorized
Improvements, including Homeowners Association Property, Public Property and easements that
create an exclusive use for a public utility provider to the extent they accrue no special benefit.
Property identified as Non-Benefited Property at the time the Assessments (i) are imposed or (ii)
are reallocated pursuant to a subdivision of a Parcel, is not assessed. Assessed Property converted
MuniCap |12
to Non-Benefited Property, if the Assessments may not be reallocated pursuant to the provisions
herein, remains subject to the Assessments and requires the Assessments to be prepaid as provided
for in Section VI.F of this Service and Assessment Plan.
Original Owner(s) means PB Ventana 1, LLC, a Texas limited liability company; PMB I20
Land LP, a Texas limited partnership; PMB Rolling V South Land, LP, a Texas limited
partnership; PMB RVS Dev Co LLC, a Texas limited liability company; PMB SWFW Dev Co
LLC, a Texas limited liability company; PMB Team Ranch Devco LLC, a Texas limited liability
company; PMB Veale Land Investors 1 LP, a Texas limited partnership; PMB Ventana Developer
LLC, a Texas limited liability company; PMB Ventana Developer South LLC, a Texas limited
liability company; PMB Ventana SFR LP, a Texas limited partnership; and TRT Land Investors,
LLC, a Delaware limited liability company and any affiliate or assignee thereof with respect to
the Development Agreement.
Parcel or Parcels means a parcel or parcels within the PID identified by either a tax map
identification number assigned by the appraisal district for the applicable County, for real property
tax purposes or by lot and block number in a final subdivision plat recorded in the real property
records of the County.
PID has the meaning set forth in Section I.A of this Service and Assessment Plan.
PID Act means Texas Local Government Code Chapter 372, Public Improvement District
Assessment Act, Subchapter A, Public Improvement Districts, as amended.
PID Assessment Notice means the homebuyer disclosure required under section 372.013 of
the PID Act and is further described in Section IV.C and attached as Appendix E to this Service
and Assessment Plan.
Prepayment Costs mean interest and expenses to the date of prepayment, plus any additional
expenses related to the prepayment, reasonably expected to be incurred by or imposed upon the
City as a result of any prepayment of an Assessment.
Public Property means property within the boundaries of the PID that is owned by or
irrevocably offered for dedication to the federal government, the State of Texas, the County, the
City, a school district or any other public agency, whether in fee simple or through an exclusive
use easement.
Service and Assessment Plan means this Service and Assessment Plan prepared for the PID
pursuant to the PID Act, as the same may be amended or updated from time to time.
TIRZ No. 16 means the Tax Increment Reinvestment Zone No. 16, City of Fort Worth, Texas
(Veale Ranch TIF).
TIRZ Annual Credit Amount means, for each Parcel of Assessed Property, the amount of
TIRZ Revenues calculated, if applicable, pursuant to Section VI of this Service and Assessment
Plan.
MuniCap |13
TIRZ Ordinance means an ordinance adopted by the City Council authorizing the use of TIRZ
Revenues for project costs under the Tax Increment Financing Act, Texas Tax Code, Chapter 311,
as amended, relating to the Authorized Improvements as provided for in the TIRZ Project Plan and
Financing Plan (including amendments or supplements thereto).
TIRZ Project Plan and Financing Plan means the governing document of the TIRZ No. 16.
TIRZ Revenues mean the portion of the Citys and Countys ad valorem tax revenue pledged
to be paid into the TIRZ Fund pursuant to the TIRZ Ordinance and the TIRZ Project Plan and
Financing Plan.
Trustee means the fiscal agent or trustee as specified in a Trust Indenture, including a substitute
fiscal agent or trustee.
Trust Indenture means an indenture of trust, ordinance or similar document setting forth the
terms and other provisions relating to the Bonds, as modified, amended, and/or supplemented from
time to time.
(remainder of this page is intentionally left blank)
MuniCap |14
II. PROPERTY INCLUDED IN THE PID
A. PROPERTY INCLUDED IN THE PID
The PID is presently located within the corporate limits of the City and the Citys extraterritorial
jurisdiction. The PID contains approximately 5,200 acres of land. A map of the property within
the PID is shown on Appendix A-1 to this Service and Assessment Plan.
At completion, the PID is expected to consist of single-family residential units, multi-family
residential units and commercial and industrial structures, landscaping, and infrastructure
necessary to provide roadways, drainage, and utilities to the PID.
The property within the PID is proposed to be developed as shown in Table II-A.
Table II-A
Proposed Development PID
Proposed Development Quantity Measurement
Residential Units
Single-family 6,000 Units
Multi-family 11,000,000 GSF
Commercial
Retail Pad 600,000 GSF
Retail (Big Box) 900,000 GSF
Office 5,000,000 GSF
Industrial 12,000,000 GSF
Improvement Areas #1, #2 and #3 consists of approximately 464 acres and consists of 273 single
family residential units, 188 multi-family residential units, and 1,592,554 square feet of
commercial. No Assessments are anticipated to be levied on these Improvement Areas.
Table II-B
Actual Development Improvement Area #1, #2 and #3
Proposed Development Quantity Measurement
Residential Units
Single-family 273 Units
Multi-family 206,048 GSF
Commercial
Industrial 1,592,554 GSF
MuniCap |15
B. PROPERTY INCLUDED IN IMPROVEMENT AREA #4
Improvement Area #4 consists of approximately 421.082 acres and is projected to consist of 136
single family residential units, to be developed as Improvement Area #4, as further described in
Section III. A map of the property within Improvement Area #4 is shown in Appendix A-2.
The property within Improvement Area #4 is proposed to be developed as shown in Table II-C.
Table II-C
Proposed Development Improvement Area #4
Proposed Development Total Measurement
Single Family - Estate Lots 100 Units
Single Family - Cottage Lots 36 Units
Total 136 Units
C. PROPERTY INCLUDED IN IMPROVEMENT AREA #5
Improvement Area #5 consists of approximately 72.059 acres and is projected to consist of 277
single family residential units, to be developed as Improvement Area #5, as further described in
Section III. A map of the property within Improvement Area #5 is shown in Appendix A-3.
The property within Improvement Area #5 is proposed to be developed as shown in Table II-D.
Table II-D
Proposed Development Improvement Area #5
Proposed Development Total Measurement
Single Family - 70 Ft 39 Units
Single Family - 60 Ft 38 Units
Single Family - 50 Ft 163 Units
Single Family - 40 Ft 37 Units
Total 277 Units
D. PROPERTY INCLUDED IN FUTURE IMPROVEMENT AREAS
The Future Improvement Areas consist of a total of approximately 4,243 acres and are projected
to consist of 5,053 single family residential units, 10,793,952 gross square feet of multi-family,
and 16,907,446 gross square feet of commercial. A map of the property within the Future
Improvement Areas is shown in Appendix A-1 and Appendix A-4.
The property within the Future Improvement Areas is proposed to be developed as shown in Table
II-E.
MuniCap |16
Table II-E
Proposed Development Future Improvement Areas
Proposed Development Quantity Measurement
Residential Units
Single-family 5,053 Units
Multi-family 10,793,952 GSF
Commercial
Retail Pad 600,000 GSF
Retail (Big Box) 900,000 GSF
Office 5,000,000 GSF
Industrial 10,407,446 GSF
As Future Improvement Areas are developed, Future Improvement Area Bonds may be issued
and/or related reimbursements may be required pursuant to the Master Reimbursement Agreement
and each respective Future Improvement Area Reimbursement Agreement for each new
Improvement Area. In connection with the issuance of each new Future Improvement Area Bond
and/or execution of each Future Improvement Area Reimbursement Agreement, this Service and
Assessment Plan will be updated to add additional details of each new Improvement Area similar
to that Improvement Area #4 and Improvement Area #5 in Section II.B and Section II.C. A map
of the projected property within the Future Improvement Areas is shown in Appendix A-1 and
Appendix A-4. The Future Improvement Areas are shown for illustrative purposes only and are
subject to adjustment. The current Parcels of Assessed Property in the PID are shown on the
Assessment Rolls included as Appendix G and Appendix H.
The estimated number of units at the build-out of the PID is based on the land use approvals for
the property in the PID, the anticipated subdivision of property in the PID, and the Developers
estimates of the highest and best use of the property within the PID and are subject to adjustment
by the Developers.
(remainder of this page is intentionally left blank)
MuniCap |17
III. DESCRIPTION OF THE AUTHORIZED IMPROVEMENTS
A. AUTHORIZED IMPROVEMENT OVERVIEW
Pursuant to Chapter 372.003 of the PID Act,
Authorized Improvements:
(a) If the governing body of a municipality or county finds that it promotes the interests of the
municipality or county, the governing body may undertake an improvement project that confers a
special benefit on a definable part of the municipality or county or the municipalitys
extraterritorial jurisdiction. A project may be undertaken in the municipality or county or the
municipalitys extraterritorial jurisdiction.
(b) A public improvement may include:
(i) landscaping;
(ii) erection of fountains, distinctive lighting, and signs;
(iii) acquiring, constructing, improving, widening, narrowing, closing, or rerouting of
sidewalks or of streets, any other roadways, or their rights-of way;
(iv) construction or improvement of pedestrian malls;
(v) acquisition and installation of pieces of art;
(vi) acquisition, construction, or improvement of libraries;
(vii) acquisition, construction, or improvement of off-street parking facilities;
(viii) acquisition, construction, improvement, or rerouting of mass transportation facilities;
(ix) acquisition, construction, or improvement of water, wastewater, or drainage facilities
or improvements;
(x) the establishment or improvement of parks;
(xi) projects similar to those listed in Subdivisions (i)-(x);
(xii) acquisition, by purchase or otherwise, of real property in connection with an
authorized improvement;
(xiii) special supplemental services for improvement and promotion of the district,
including services relating to advertising, promotion, health and sanitation, water and
wastewater, public safety, security, business recruitment, development, recreation, and
cultural enhancement;
(xiv) payment of expenses incurred in the establishment, administration and operation of
the district; and
(xv) the development, rehabilitation, or expansion of affordable housing.
After analyzing the public improvement projects authorized by the PID Act, the City has
determined at this time to undertake only Authorized Improvements listed in Section III.B and
Section III.C, and shown in the opinion of probable costs and on the diagrams included as
Appendix B for the benefit of the Assessed Property. Any change to the list of Authorized
MuniCap |18
Improvements will require the approval of the City and an update to this Service and Assessment
Plan. Tables included in this Section may be rounded to the nearest whole dollar.
B. DESCRIPTIONS AND BUDGETED COSTS OF IMPROVEMENT AREA #4IMPROVEMENTS
The descriptions of the Improvement Area #4 Improvements are presented below as provided by
the project engineer. The Budgeted Costs of the Improvement Area #4 Improvements are shown
in Table III-B. The costs shown in Table III-B are estimates and may be revised in Annual Service
Plan Updates, including such other improvements as deemed necessary to further improve the
properties within the PID.
A description of the Improvement Area #4 Improvements are as follows.
Roadway Improvements
The road improvement portion of the Improvement Area #4 Improvements consists of the
acquisition, construction, improvement, widening, narrowing, closing and re-routing of streets,
roadways, bridges and arterials and include, subgrade stabilization (including lime treatment and
compaction), concrete, asphalt or other applicable material, curbs, gutters, sidewalks, barrier free
ramps, signage, traffic control devices and wayfinding, landscaping and irrigation, re-vegetation
of disturbed areas within and for the right of way, retaining walls within and for the right of way,
all related earthwork and excavation, and the fair market value of any right-of-way dedication to
the City which benefit the Improvement Area #4 Assessed Property. Roadway improvements also
include, if necessary, any TxDOT (the TxDOT) turn lanes or TxDOT signalization at US 377 &
Bear Creek Parkway or other locations and the necessary infrastructure, requirements, permitting,
and other necessary work related to TxDOT. All roadway projects will be designed and constructed
in accordance with City and/or other applicable governmental jurisdiction standards and
specifications, including the Fort Worth Master Throughfare Plan (the Master Throughfare
Fare), and will be owned and operated by the City and/or other applicable governmental
jurisdictions.
Water Improvements
The water improvements portion of the Improvement Area #4 Improvements consists of
acquisition, construction, improvement and installation of water and reclaimed water supply lines
and related facilities and equipment, which includes waterlines (excluding waterlines 8 or less
and serving residential area), valves, vaults, fire hydrants, trench safety, testing, related earthwork
and excavation, appurtenances, and the fair market value of any easements granted to the City
necessary for the portion of the water distribution system that will service the Improvement Area
#4 Assessed Property, including improvements that are off-site. The water improvements will be
designed and constructed in accordance with City standards and specifications and will be owned
and operated by the City.
(remainder of this page is intentionally left blank)
MuniCap |19
Sanitary Sewer Improvements
The sanitary sewer improvement portion of the Improvement Area #4 Improvements consists of
acquisition, construction, improvement and installation of various sized sanitary sewer pipes
(excluding lines 8 or less and serving residential area), service lines, force main(s), lift station(s),
and related facilities and equipment which include, manholes, encasements, pumps, trench safety,
testing, related earthwork and excavation, appurtenances, and the fair market value of any
easements granted to the City necessary to provide sanitary sewer service to Improvement Area #4
Assessed Property, including improvements that are offsite. The sanitary sewer improvements will
be designed and constructed in accordance with City standards and specifications and will be
owned and operated by the City.
Storm Drainage Improvements
The storm drainage improvement portion of the Improvement Area #4 Improvements consists of
the acquisition, construction, improvement and installation of stormwater drainage and detention
improvements and related facilities and equipment which include, storm pipes (all applicable
material), storm boxes, multi-reinforced box culverts, junction boxes, inlets, headwalls, trench
safety, testing, related earthwork and excavation and erosion control, appurtenances, and the fair
market value of any easements granted to the City necessary to provide adequate drainage to the
Improvement Area #4 Assessed Property, including improvements that are offsite. Storm drainage
improvements further include, if necessary, any drainage infrastructure within TxDOT turn lanes
at US 377 & Bear Creek Parkway or other locations and the necessary infrastructure, requirements,
permitting, and other necessary work related to TxDOT. The storm drainage collection system
improvements will be designed and constructed in accordance with City standards and
specifications and will be owned and operated by the City.
Public Landscaping and Trails
The public landscaping and trail improvements of the Improvement Area #4 Improvements
consist of the planting and construction of supplemental landscaping such as parks, ponds, lakes,
open spaces, entry features and areas, which include, sitting stations, benches, shaded structure(s),
hardscape such as walls, statues and monuments, landscaping, plantings, and irrigation, fountains,
playgrounds, athletic facilities, pavilions, lighting and paved parking spaces, which benefit the
Improvement Area #4 Assessed Property. The landscaping improvements will be designed
according to City standards and will be available for public use.
Other Soft and Miscellaneous Costs
The soft and miscellaneous costs portion of the Improvement Area #4 Improvements consists of
all costs related to designing, construction, installing, and financing the Authorized Improvements
including engineering and surveying, land planning and design, project and construction
management fees, City fees (including inspection fees, IPRC engineering plan review fees,
administrative material testing costs, water lab testing fees, permit fees, development fees, capacity
fees and per acre charges), material testing, appraisal, legal and issuance costs, contingency, and
other related soft and miscellaneous costs.
MuniCap |20
Table III-A
Budgeted Costs Improvement Area #4
Authorized Improvements
Total Improvement
Area #4 Improvements1
Roadway improvements $3,212,402
Water improvements $4,792,594
Sanitary sewer improvements $1,502,756
Storm drainage improvements $289,181
Public landscaping and trails $675,000
Other soft and miscellaneous costs $2,927,205
Total Authorized Improvements $13,399,137
1Provided by the Improvement Area #4 Developer. The figures shown in Table III-A may be
revised in Annual Service Plan Updates and may be reallocated between line items so long as the
total Improvement Area #4 Assessment related to the Improvement Area #4 Improvements does
not increase.
C. DESCRIPTIONS AND BUDGETED COSTS OF IMPROVEMENT AREA #5IMPROVEMENTS
The descriptions of the Improvement Area #5 Improvements are presented below as provided by
the project engineer. The Budgeted Costs of the Improvement Area #5 Improvements are shown
in Table III-B. The costs shown in Table III-B are estimates and may be revised in Annual Service
Plan Updates, including such other improvements as deemed necessary to further improve the
properties within the PID.
A description of the Improvement Area #5 Improvements are as follows.
Roadway Improvements
The road improvement portion of the Improvement Area #5 Improvements consists of the
acquisition, construction, improvement, widening, narrowing, closing and re-routing of streets,
roadways, bridges and arterials and include, subgrade stabilization (including lime treatment and
compaction), concrete, asphalt or other applicable material, curbs, gutters, sidewalks, barrier free
ramps, signage, traffic control devices and wayfinding, landscaping and irrigation, re-vegetation
of disturbed areas within and for the right of way, retaining walls within and for the right of way,
all related earthwork and excavation, and the fair market value of any right-of-way dedication to
the City which benefit the Improvement Area #5 Assessed Property. All roadway projects will be
designed and constructed in accordance with City standards and specifications, including the
Master Throughfare Plan, and will be owned and operated by the City.
Water Improvements
The water improvements portion of the Improvement Area #5 Improvements consists of
acquisition, construction, improvement and installation of water and reclaimed water supply lines,
and related facilities and equipment, includes waterlines (excluding water lines under 8 and
serving residential area), valves, vaults, fire hydrants, trench safety, testing, related earthwork and
MuniCap |21
excavation, appurtenances, and the fair market value of any easements granted to the City
necessary for the portion of the water distribution system that will service the Improvement Area
#5 Assessed Property, including improvements that are offsite. The water improvements will be
designed and constructed in accordance with City standards and specifications and will be owned
and operated by the City.
Sanitary Sewer Improvements
The sanitary sewer improvement portion of the Improvement Area #5 Improvements consists of
acquisition, construction, improvement and installation of various sized sanitary sewer pipes
(excluding lines 8 or less and serving residential area), service lines, force main(s), lift station(s),
and related facilities and equipment which include, manholes, encasements, pumps, trench safety,
testing, related earthwork and excavation, appurtenances, and the fair market value of any
easements granted to the City necessary to provide sanitary sewer service to Improvement Area #5
Assessed Property, including improvements that are offsite. The sanitary sewer improvements will
be designed and constructed in accordance with City standards and specifications and will be
owned and operated by the City.
Storm Drainage Improvements
The storm drainage improvement portion of the Improvement Area #5 Improvements consists of
the acquisition, construction, improvement and installation of stormwater drainage and detention
improvements and related facilities and equipment which include, storm pipes (all applicable
material), storm boxes, multi-reinforced box culverts, junction boxes, inlets, headwalls, trench
safety, testing, related earthwork and excavation and erosion control, appurtenances, and the fair
market value of any easements granted to the City necessary to provide adequate drainage to the
Improvement Area #5 Assessed Property, including improvements that are offsite. The storm
drainage collection system improvements will be designed and constructed in accordance with
City standards and specifications and will be owned and operated by the City.
Public Landscaping and Trails
The public landscaping and trail improvements of the Improvement Area #5 Improvements
consist of the planting and construction of supplemental landscaping such as parks, ponds, lakes,
open spaces, entry features and areas, which include, sitting stations, benches, shaded structure(s),
hardscape such as walls, statues and monuments, landscaping, plantings, and irrigation, fountains,
playgrounds, athletic facilities, pavilions, lighting and paved parking spaces, which benefit the
Improvement Area #5 Assessed Property. The landscaping improvements will be designed
according to City standards and will be available for public use.
Other Soft and Miscellaneous Costs
The soft and miscellaneous costs portion of the Improvement Area #5 Improvements consists of
all costs related to designing, construction, installing, and financing the Authorized Improvements
including engineering and surveying, land planning and design, project and construction
management fees, City fees (including inspection fees, IPRC engineering plan review fees,
administrative material testing costs, water lab testing fees, permit fees, development fees, capacity
MuniCap |22
fees and per acre charges), material testing, appraisal, legal and issuance costs, contingency, and
other related soft and miscellaneous costs.
Table III-B
Budgeted Costs Improvement Area #5
Authorized Improvements
Total Improvement
Area #5
Improvements1
Roadway improvements $1,219,985
Water improvements $468,315
Sanitary sewer improvements $1,002,254
Storm drainage improvements2 $1,519,981
Public landscaping and trails $147,696
Other soft and miscellaneous costs3 $1,071,497
Total Authorized Improvements $5,429,728
1Provided by the Improvement Area #5 Developer. The figures shown in Table III-B may be
revised in Annual Service Plan Updates and may be reallocated between line items so long
as the total Improvement Area #5 Assessment related to the Improvement Area #5
Improvements does not increase.
2Include $210,965 in drainage costs excluding the residential drainage improvement costs
and $1,309,286 in drainage costs related to the residential area.
3Include $884,963 in other soft and miscellaneous costs excluding the improvement costs
related to the residential drainage and $186,534 other soft and miscellaneous costs related to
the residential drainage improvement costs.
D. FUTURE IMPROVEMENT AREAS
As Future Improvement Areas are developed and Future Improvement Area Bonds are issued and/
or related reimbursements are required pursuant to the Master Reimbursement Agreement, each
respective Future Improvement Area Reimbursement Agreement and this Service and Assessment
Plan will be amended to identify the specific Future Improvement Area Improvements that confer
a special benefit to the property inside each Future Improvement Area (e.g., a Table III-C, Table
III-D, etc. will be added in a future updates to this Service and Assessment Plan to show the costs
for the specific Authorized Improvements financed within the specific Future Improvement Area
being developed).
(remainder of this page is intentionally left blank)
MuniCap |23
IV. SERVICE PLAN
A. PROJECTED SOURCES AND USES OF FUNDS
The PID Act requires the service plan to cover a period of at least five years. The service plan is
required to define the annual projected costs and indebtedness for the Authorized Improvements
undertaken within the PID during the five-year period. It is anticipated that the Improvement Area
#4 Improvements will be completed and accepted by the City in the first quarter of 2026.
It is anticipated that the Improvement Area #5 Improvements will be completed and accepted by
the City in the second quarter of 2026.
The costs for Improvement Area #4 Improvements and the expenses allocable to Improvement
Area #4 incurred in the establishment, administration, and operation of the PID are $16,630,000,
as shown in Table IV-A. The service plan shall be reviewed and updated at least annually for the
purpose of determining the annual budget for Administrative Expenses, updating the estimated
Authorized Improvement costs, and updating the Improvement Area #4 Assessment Roll. Any
update to this Service and Assessment Plan is herein referred to as an Annual Service Plan
Update.
The costs for Improvement Area #5 Improvements and the expenses allocable to Improvement
Area #5 incurred in the establishment, administration, and operation of the PID are $6,809,000 as
shown in Table IV-B. The service plan shall be reviewed and updated at least annually for the
purpose of determining the annual budget for Administrative Expenses, updating the estimated
Authorized Improvement costs, and updating the Improvement Area #5 Assessment Roll. Any
update to this Service and Assessment Plan is herein referred to as an Annual Service Plan
Update.
As Future Improvement Areas are developed and Future Improvement Area Bonds are issued
and/or additional reimbursements are required pursuant to the Master Reimbursement Agreement
and each Future Improvement Area Reimbursement Agreement with respect thereto, this Service
and Assessment Plan will be updated (e.g., Table IV-C, Table IV-D, etc. will be updated in a
future update to this Service and Assessment Plan to include Improvement Area #6, etc.).
Improvement Area #4
The obligation under the Improvement Area #4 Reimbursement Agreement is being created in
2026, as shown in Table IV-A. It is anticipated that Improvement Area #4 Bonds will be issued
later in 2026 to remove the obligation under the Improvement Area #4 Reimbursement
Agreement. Amounts in the tables included in this section may be rounded to the nearest whole
dollar.
(remainder of this page is intentionally left blank)
MuniCap |24
Table IV-A
Projected Sources and Uses Improvement Area #4
Sources of Funds Total
Assessment Amount $16,630,000
Total Sources $16,630,000
Uses of Funds
Improvement Area #4 Improvements1:
Roadway improvements $3,212,402
Water improvements $4,792,594
Sanitary sewer improvements $1,502,756
Storm drainage improvements $289,181
Public landscaping and trails $675,000
Other soft and miscellaneous costs $2,927,205
Subtotal Improvement Area #4 Project Costs $13,399,137
Bond Issuance Costs:
Cost of Issuance $998,500
Reserve Fund $1,222,712
Administrative expenses $95,000
Capitalized Interest $415,750
Underwriter's Discount $498,900
Subtotal Bond Issuance Costs $3,230,862
Total Uses $16,630,000
1See Table III-B for details.
Improvement Area #5
The obligation under the Improvement Area #5 Reimbursement Agreement is being created in
2026, as shown in Table IV-B. It is anticipated that Improvement Area #5 Bonds will be issued
later in 2026 to remove the obligation under the Improvement Area #5 Reimbursement Agreement.
(remainder of this page is intentionally left blank)
MuniCap |25
Table IV-B
Projected Sources and Uses Improvement Area #5
Sources of Funds Total
Assessment Amount $6,809,000
Total Sources $6,809,000
Uses of Funds
Improvement Area #5 Improvements1:
Roadway improvements $1,219,985
Water improvements $468,315
Sanitary sewer improvements $1,002,254
Storm drainage improvements $1,519,981
Public landscaping and trails $147,696
Other soft and miscellaneous costs $1,071,497
Subtotal Improvement Area #5 Improvement Costs $5,429,728
Bond Issuance Costs:
Cost of Issuance $409,149
Reserve Fund $500,628
Administrative expenses $95,000
Capitalized Interest $170,225
Underwriter's Discount $204,270
Subtotal Bond Issuance Costs $1,379,272
Total Uses $6,809,000
1See Table III-B for details.
B. PROJECTED FIVE-YEAR SERVICE PLAN
Improvement Area #4
The annual projected costs and annual projected indebtedness for Improvement Area #4 is shown
in Table IV-C. The annual projected costs and indebtedness is subject to revision and each shall
be updated in the Annual Service Plan Update to reflect any changes in the costs or indebtedness
expected for each year.
(remainder of this page is intentionally left blank)
MuniCap |26
Table IV-C
Annual Projected Costs and Annual Projected Indebtedness Improvement Area #4
Year
Annual
Projected
Cost
Annual
Projected
Indebtedness
Other
Funding
Sources
Projected
Annual
Installments1,2
2026 $16,630,000 $16,630,000 $0 $1,621,678
2027 $0 $0 $0 $1,621,766
2028 $0 $0 $0 $1,621,892
2029 $0 $0 $0 $1,622,057
2030 $0 $0 $0 $1,622,261
2031 $0 $0 $0 $1,550,600
2032 $0 $0 $0 $1,549,845
2033 $0 $0 $0 $1,549,935
Total $16,630,000 $16,630,000 $0 $12,760,033
1Administrative Expenses in year 2026 will be funded with Bond proceeds. Capitalized interest in 2026
will be paid with Bond proceeds.
2Annual Installments billed in 2026.
The annual projected costs shown in Table IV-C are the annual expenditures relating to the
Improvement Area #4 Improvements shown in Table III-A and the costs associated with setting
up the PID, including the issuance costs and reserves as shown in Table IV-A. The difference
between the total projected costs and the total projected indebtedness, if any, is the amount
contributed by the Improvement Area #4 Developer.
Improvement Area #5
The annual projected costs and annual projected indebtedness for Improvement Area #5 is shown
in Table IV-D. The annual projected costs and indebtedness is subject to revision and each shall
be updated in the Annual Service Plan Update to reflect any changes in the costs or indebtedness
expected for each year.
(remainder of this page is intentionally left blank)
MuniCap |27
Table IV-D
Annual Projected Costs and Annual Projected Indebtedness Improvement Area #5
Year
Annual
Projected Cost
Annual
Projected
Indebtedness
Other
Funding
Sources
Projected
Annual
Installments1,2
2026 $6,809,000 $6,809,000 $0 $748,895
2027 $0 $0 $0 $748,443
2028 $0 $0 $0 $748,938
2029 $0 $0 $0 $748,291
2030 $0 $0 $0 $749,593
2031 $0 $0 $0 $696,161
2032 $0 $0 $0 $695,389
2033 $0 $0 $0 $695,236
Total $6,809,000 $6,809,000 $0 $5,830,946
1Administrative Expenses in year 2026 will be funded with Bond proceeds. Interest in 2026 will be paid
with Bond proceeds.
2Annual Installments billed in 2026.
The annual projected costs shown in Table IV-D are the annual expenditures relating to the
Improvement Area #5 Improvements shown in Table III-B and the costs associated with setting
up the PID, including the issuance costs and reserves as shown in Table IV-B. The difference
between the total projected costs and the total projected indebtedness, if any, is the amount
contributed by the Improvement Area #5 Developer.
As Future Improvement Areas are developed, in association with issuing Future Improvement
Area Bonds and/ or execution of a Future Improvement Area Reimbursement Agreement for each
Future Improvement Area, a table will be added to identify the Authorized Improvements to be
financed by each new series of the Future Improvement Area Bonds and/ or Future Improvement
Area Reimbursement Agreements and the projected indebtedness resulting from each additional
series of the Future Improvement Area Bonds and/ or Future Improvement Area Reimbursement
Agreements.
C. PIDASSESSMENT NOTICE
The PID Act requires that this Service and Assessment Plan and each Annual Service Plan Update
include a copy of the notice form required by Section 5.014 of the Texas Property Code. The PID
Assessment Notice is attached hereto as Appendix E and may be updated in an Annual Service
Plan Update.
(remainder of this page is intentionally left blank)
MuniCap |28
V. ASSESSMENT PLAN
A. INTRODUCTION
The PID Act requires the City Council to apportion the costs of the Authorized Improvements on
the basis of special benefits conferred upon the property because of the Authorized Improvements.
The PID Act provides that the costs of the Authorized Improvements may be assessed: (i) equally
per front foot or square foot; (ii) according to the value of the property as determined by the
governing body, with or without regard to improvements on the property; or (iii) in any other
manner that results in imposing equal shares of the cost on property similarly benefited. The PID
Act further provides that the governing body may establish by ordinance or order reasonable
classifications and formulas for the apportionment of the cost between the municipality and the
area to be assessed and the methods of assessing the special benefits for various classes of
improvements.
The proposed bond issuance program entails a series of bond financings that are intended to
finance the public infrastructure required for the development. This financing will necessarily be
undertaken in phases to coincide with the private investment and development of the Authorized
Improvements. Following the creation of the obligation under the Improvement Area #4
Reimbursement Agreement and the Improvement Area #5 Reimbursement Agreement anticipated
in 2026, subsequent financings may be issued over the subsequent fifty (50) years from the date
of the first Assessment levy, as the Future Improvement Areas of the development are gradually
constructed.
The purpose of this gradual issuance of bonds in phases is to mirror the actual development of the
Authorized Improvements. The levy of Assessments and issuance of Bonds are most prudently
and efficiently utilized when directly coinciding with construction of public infrastructure needed
for private development that is to occur once the infrastructure is completed; it is most effective to
issue the Bonds when the infrastructure is needed, not before. Furthermore, there is no economic
advantage, and several disadvantages, to issuing debt and encumbering property within the PID
prior to the need for the Authorized Improvements.
For purposes of this Service and Assessment Plan, the City Council has determined that the costs
of the Improvement Area #4 Improvements and Improvement Area #5 Improvements shall be
allocated as described below:
1. The costs of the Improvement Area #4 Improvements that only benefit Improvement Area #4
shall be allocated on the basis of Equivalent Units calculated using the estimated average home
price of each Lot Type at the time the Improvement Area #4 Assessments are levied, and that
such method of allocation will result in the imposition of equal shares of the costs of the
Improvement Area #4 Improvements to Parcels of Improvement Area #4 Assessed Property
similarly benefited.
2. The costs of the Improvement Area #5 Improvements that only benefit Improvement Area #5
shall be allocated on the basis of Equivalent Units calculated using the estimated average home
price of each Lot Type at the time the Improvement Area #5 Assessments are levied, and that
MuniCap |29
such method of allocation will result in the imposition of equal shares of the costs of the
Improvement Area #5 Improvements to Parcels of Improvement Area #5 Assessed Property
similarly benefited.
At this time, it is impossible to determine with absolute certainty the amount of special benefit
each Parcel within Future Improvement Areas will receive from the direct Authorized
Improvements that will benefit each individual Improvement Area and that are to be financed with
Future Improvement Area Bonds. Therefore, Parcels will only be assessed for the special benefits
conferred upon the Parcel at this time because of the Improvement Area #4 Improvements and the
Improvement Area #5 Improvements, as applicable.
In connection with the issuance of Future Improvement Area Bonds and/ or additional obligations
created pursuant to the Master Reimbursement Agreement and each respective Future
Improvement Area Reimbursement Agreement, this Service and Assessment Plan will be updated
to reflect the special benefit each Parcel of Assessed Property within a Future Improvement Areas
receives from the specific Authorized Improvements funded with those Future Improvement Area
Bonds issued and/ or Future Improvement Area Reimbursement Agreements executed with
respect to that Future Improvement Areas. Prior to assessing Parcels located within Future
Improvement Areas in connection with issuance of Future Improvement Area Bonds and/ or
execution of Future Improvement Area Reimbursement Agreements, each owner of the Parcels to
be assessed must acknowledge that the Authorized Improvements to be financed confer a special
benefit on their Parcel and must consent to the imposition of the Assessments to pay for the Actual
Costs of such Authorized Improvements.
This section of this Service and Assessment Plan currently (i) describes the special benefit
received by each Parcel of Assessed Property within the PID as a result of the Improvement Area
#4 Improvements and Improvement Area #5 Improvements, as applicable, (ii) provides the basis
and justification for the determination that this special benefit exceeds the amount of the
Improvement Area #4 Assessments and the Improvement Area #5 Assessments levied on the
Improvement Area #4 Assessed Property and Improvement Area #5 Assessed Property, as
applicable, and (iii) establishes the methodologies by which the City Council allocates and
reallocates the special benefit of the Improvement Area #4 Improvements and Improvement Area
#5 Improvements, as applicable, to Parcels of Improvement Area #4 Assessed Property and
Improvement Area #5 Assessed Property, as applicable, in a manner that results in equal shares
of the Actual Costs of such improvements being apportioned to Parcels similarly benefited. The
determination by the City Council of the assessment methodologies set forth below is the result
of the discretionary exercise by the City Council of its legislative authority and governmental
powers and is conclusive and binding on the Improvement Area #4 Developer and the
Improvement Area #5 Developer and all future owners and developers of the Improvement Area
#4 Assessed Property and the Improvement Area #5 Assessed Property.
As Future Improvement Areas are developed in connection with the issuance of Future
Improvement Area Bonds and/or additional reimbursements are required pursuant to the Master
Reimbursement Agreement, each respective Future Improvement Area Reimbursement
Agreement, this Service and Assessment Plan will be updated based on the Citys determination
of the assessment methodology for each Future Improvement Areas.
MuniCap |30
B. SPECIAL BENEFIT
Assessed Property must receive a direct and special benefit from the Authorized Improvements,
and this benefit must be equal to or greater than the amount of the Assessments. The Authorized
Improvements (more particularly described in line-item format in Appendix B to this Service and
Assessment Plan) and the costs of issuance and payment of costs incurred in the establishment of
the PID shown in Table IV-A and Table IV-B are authorized by the PID Act. These Authorized
Improvements are provided specifically for the benefit of the Assessed Property.
At or prior to the time the City Council approved the Improvement Area #4 Assessment Ordinance
and the Improvement Area #5 Assessment Ordinance, respectively, each owner of the
Improvement Area #4 Assessed Property and Improvement Area #5 Assessed Property has
acknowledged that the Improvement Area #4 Improvements and the Improvement Area #5
Improvements, respectively, confer a special benefit on the Improvement Area #4 Assessed
Property and the Improvement Area #5 Assessed Property, respectively, and has consented to the
imposition of the Improvement Area #4 Assessments and the Improvement Area #5 Assessments,
as the case may be, to pay for the Actual Costs associated therewith. In making such
acknowledgements and consents, each of the owners was acting in its interest in consenting to the
apportionment and levying of the Improvement Area #4 Assessments and the Improvement Area
#5 Assessments, respectively, because the special benefit conferred upon the Improvement Area
#4 Assessed Property and the Improvement Area #5 Assessed Property, respectively, by the
Improvement Area #4 Improvements and Improvement Area #5 Improvements, respectively,
exceeds the amount of the Improvement Area #4 Assessments and the Improvement Area #5
Assessment, as applicable.
The Authorized Improvements provide a special benefit to the Assessed Property as a result of
the close proximity of these improvements to the Assessed Property and the specific purpose of
these improvements of providing infrastructure for the Assessed Property. In other words, the
Assessed Property could not be used in the manner proposed without the construction of the
Authorized Improvements. The Authorized Improvements are being provided specifically to meet
the needs of the Assessed Property as required for the proposed use of the property.
The Assessments are being levied to provide the Authorized Improvements that are required for
the highest and best use of the Assessed Property (i.e., the use of the property that is most valuable,
including any costs associated with that use). Highest and best use can be defined as the
reasonably probable and legal use of property, which is physically possible, appropriately
supported, financially feasible, and that results in the highest value. (Dictionary of Real Estate
Appraisal, Third Edition.) The Authorized Improvements are expected to be required for the
proposed use of the Assessed Property to be physically possible, appropriately supported,
financially feasible, and maximally productive.
The Improvement Area #4 Developer and Improvement Area #5 Developer have evaluated the
potential use of the property and have determined that the highest and best use of the property is
the use intended and the legal use for the property as described in Section II of this Service and
Assessment Plan. The use of the Assessed Property as described herein will require the
construction of the Authorized Improvements.
MuniCap |31
The special assessments will repay financing that is on advantageous terms, as the Bonds issued,
if any, to finance the Authorized Improvements will pay interest that is exempt from federal
income tax. As a result, all other terms being equal (e.g., maturity, fixed vs. variable rate, credit
quality), the tax-exempt bonds will have a lower interest rate than debt that is not tax-exempt. The
Bonds also have a longer term than other available financings and may either be repaid or assumed
by a buyer at the buyers option. As a result of these advantageous terms, the financing provided
by the PID is the most beneficial means of financing the Authorized Improvements.
At or prior to the time the City Council approved the Improvement Area #4 Assessment Ordinance
and the Improvement Area #5 Assessment Ordinance, respectively, each owner of the Assessed
Property will ratify, confirm, accept, agree to and approve: (i) the determinations and findings by
the City Council as to the special benefits described in this Service and Assessment Plan, the
Improvement Area #4 Assessment Ordinance, and the Improvement Area #5 Assessment
Ordinance; (ii) the Service and Assessment Plan, the Improvement Area #4 Assessment
Ordinance, and the Improvement Area #5 Assessment Ordinance, and (iii) the levying of
Assessments on the Assessed Property. Use of the Assessed Property as described in this Service
and Assessment Plan and as authorized by the PID Act requires that Authorized Improvements be
acquired, constructed, installed, and/or improved. Funding the Actual Costs of the Authorized
Improvements through the PID has been determined by the City Council to be the most beneficial
means of doing so. As a result, the Authorized Improvements result in a special benefit to the
Assessed Property, and this special benefit exceeds the amount of the Assessment. This conclusion
is based on and supported by the evidence, information, and testimony provided to the City
Council.
In summary, the Authorized Improvements result in a special benefit to the Assessed Property for
the following reasons:
1. The Authorized Improvements are being provided specifically for the use of the Assessed
Property, are necessary for the proposed best use of the property and provide a special
benefit to the Assessed Property as a result;
2. The Improvement Area #4 Developer and Improvement Area #5 Developer have
consented to the imposition of the Improvement Area #4 Assessments and the
Improvement Area #5 Assessments, respectively, for the purpose of providing the
Improvement Area #4 Improvements and the Improvement Area #5 Improvements and
the Improvement Area #4 Developer and Improvement Area #5 Developer are acting in
their interest by consenting to this imposition;
3. The Authorized Improvements are required for the highest and best use of the Assessed
Property;
4. The highest and best use of the Assessed Property is the use of the Assessed Property
that is most valuable (including any costs associated with the use of the Assessed
Property);
5. Financing of the costs of the Authorized Improvement through the PID is determined to
be the most beneficial means of providing for the Authorized Improvements; and
MuniCap |32
6. As a result, the special benefits to the Assessed Property from the Authorized
Improvements will be equal to or greater than the Assessments.
C. ASSESSMENT METHODOLOGY
The costs of the Authorized Improvements may be assessed by the City Council against the
Assessed Property so long as the special benefit conferred upon the Assessed Property by the
Authorized Improvements equals or exceeds the amount of the Assessments. The costs of the
Authorized Improvements may be assessed using any methodology that results in the imposition
of equal shares of the Actual Costs on Assessed Property similarly benefited.
1. Assessment Methodology for Improvement Area #4 Improvements
For purpose of this Service and Assessment Plan, the City Council determined that the Actual
Costs of the Improvement Area #4 Improvements shall be allocated to the Improvement Area #4
Assessed Property by spreading the entire Improvement Area #4 Assessment across the Parcels
of Improvement Area #4 Assessed Property based on the estimated number of Equivalent Units
anticipated to be developed on such Parcel.
Based on the estimates of the costs of the Improvement Area #4 Improvements, as set forth in
Table III-A, the City Council determined that the benefit to Improvement Area #4 Assessed
Property of the Improvement Area #4 Improvements was at least equal to the Improvement Area
#4 Assessments levied on the Improvement Area #4 Assessed Property.
Upon subsequent divisions of any Parcel of Improvement Area #4 Assessed Property, the
Improvement Area #4 Assessment applicable to it will then be apportioned pro rata based on the
estimated Equivalent Units of each newly created Parcel of Improvement Area #4 Assessed
Property. For residential lots, when final residential building sites are platted, Improvement Area
#4 Assessments will be apportioned proportionately among each Parcel of Improvement Area #4
Assessed Property based on the ratio of the estimated Equivalent Units at the time residential lots
are platted to the total estimated Equivalent Units for lots in the platted Parcel of Improvement
Area #4 Assessed Property, as determined by the Administrator and confirmed by the City
Council.
The Improvement Area #4 Assessment and Annual Installments for each Parcel of Improvement
Area #4 Assessed Property is shown on the Improvement Area #4 Assessment Roll, attached as
Appendix G, and no Improvement Area #4 Assessment shall be changed except as authorized by
this Service and Assessment Plan or the PID Act.
2. Assessment Methodology for Improvement Area #5 Improvements
For purpose of this Service and Assessment Plan, the City Council has determined that the Actual
Costs of the Improvement Area #5 Improvements shall be allocated to the Improvement Area #5
Assessed Property by spreading the entire Improvement Area #5 Assessment across the Parcels
MuniCap |33
of Improvement Area #5 Assessed Property based on the estimated number of Equivalent Units
anticipated to be developed on each Parcel of Improvement Area #5 Assessed Property.
Based on the estimates of the costs of the Improvement Area #5 Improvements, as set forth in
Table III-B, the City Council has determined that the benefit to Improvement Area #5 Assessed
Property of the Improvement Area #5 Improvements is at least equal to the Improvement Area #5
Assessments levied on the Improvement Area #5 Assessed Property.
Upon subsequent divisions of any Parcel of Improvement Area #5 Assessed Property, the
Improvement Area #5 Assessment applicable to it will then be apportioned pro rata based on the
estimated Equivalent Units of each newly created Parcel of Improvement Area #5 Assessed
Property. For residential lots, when final residential building sites are platted, Improvement Area
#5 Assessments will be apportioned proportionately among each Parcel of Improvement Area #5
Assessed Property based on the ratio of the estimated Equivalent Units at the time residential lots
are platted to the total estimated Equivalent Units for lots in the platted Parcel of Improvement
Area #5 Assessed Property, as determined by the Administrator and confirmed by the City
Council.
The Improvement Area #5 Assessment and Annual Installments for each Parcel of Improvement
Area #5 Assessed Property is shown on the Improvement Area #5 Assessment Roll, attached as
Appendix H, and no Improvement Area #5 Assessment shall be changed except as authorized by
this Service and Assessment Plan or the PID Act.
3. Assessment Methodology for Future Improvement Areas
When any given Future Improvement Area is developed, and Future Improvement Area Bonds
for that Future Improvement Areas are to be issued and/ or a Future Improvement Area
Reimbursement Agreement is executed, this Service and Assessment Plan will be amended to
determine the assessment methodology that results in the imposition of equal shares of the Actual
Costs on Assessed Property similarly benefited within that Future Improvement Area.
D. ASSESSMENTS
The Improvement Area #4 Assessments under the Improvement Area #4 Reimbursement
Agreement are being levied on each Parcel or lot of Improvement Area #4 Assessed Property
according to the Improvement Area #4 Assessment Roll, attached hereto as Appendix G. The
Annual Installments for Improvement Area #4 Reimbursement Agreement will be collected on the
dates and in the amounts shown on the Improvement Area #4 Assessment Roll, subject to revisions
made during an Annual Service Plan Update.
The Improvement Area #5 Assessments under the Improvement Area #5 Reimbursement
Agreement are being levied on each Parcel or lot of Improvement Area #5 Assessed Property
according to the Improvement Area #5 Assessment Roll, attached hereto as Appendix H. The
Annual Installments for Improvement Area #5 Reimbursement Agreement will be collected on the
dates and in the amounts shown on the Improvement Area #5 Assessment Roll, subject to revisions
made during an Annual Service Plan Update.
MuniCap |34
See Appendix F for Improvement Area #4 Assessments and Improvement Area #5 Assessments
per unit, leverage, and estimated tax rate equivalent calculation details.
E. ADMINISTRATIVE EXPENSES
The cost of administering the PID and collecting the Annual Installments shall be paid for on a
pro rata basis by each Parcel of Assessed Property based on the amount of Assessment levied
against such Parcel. The Administrative Expenses shall be collected as part of and in the same
manner as Annual Installments in the amounts shown on each Assessment Roll, which may be
revised based on Actual Costs incurred in Annual Service Plan Updates.
F. ADDITIONAL INTEREST RESERVE
Pursuant to the PID Act, the interest rate for Assessments may exceed the actual interest rate per
annum paid on the related Bonds, by the Additional Interest Rate. The Additional Interest
Component of the Annual Installments is allocated to fund a reserve to be used for paying
Prepayment Costs and to offset Delinquent Collection Costs. The Additional Interest Reserve
shall be funded until it reaches 5.50% of the outstanding Bonds unless otherwise stipulated in the
applicable Trust Indenture. Once the Additional Interest Reserve is funded in full, the City may
allocate the Additional Interest Component of the Annual Installments as provided in the
applicable Trust Indenture.
G. TIRZ ANNUAL CREDIT
Pursuant to the TIRZ Ordinance, the City has agreed to use TIRZ Revenues in an amount equal
to 65% of the Citys ad valorem tax revenues collected on the tax increment from each Parcel of
Assessed Property within the TIRZ No. 16 to offset a portion of the Assessments levied on each
such Parcel, if applicable. The Annual Installment for each Parcel of Assessed Property shall be
calculated by taking into consideration any TIRZ Annual Credit Amount applicable to such Parcel
then on deposit in the TIRZ No. 16 tax increment fund. The TIRZ Annual Credit Amount
applicable to each Parcel of Assessed Property shall be calculated, if applicable, as described
under Section VI of this Service and Assessment Plan.
(remainder of this page is intentionally left blank)
MuniCap |35
VI. TERMS OF THE ASSESSMENTS
A. AMOUNT OF ASSESSMENTS AND ANNUAL INSTALLMENTS FOR PARCELS LOCATED
WITHIN IMPROVEMENT AREA #4
The Improvement Area #4 Assessment and Annual Installments thereof for each Improvement
Area #4 Assessed Property is shown on the Improvement Area #4 Assessment Roll, attached as
Appendix G, and no Improvement Area #4 Assessment shall be changed except as authorized by
this Service and Assessment Plan and the PID Act.
Following the execution of the Improvement Area #4 Reimbursement Agreement, the Annual
Installments from the Improvement Area #4 Assessed Property shall be collected in an amount
sufficient to pay (i) principal and interest on the Improvement Area #4 Reimbursement
Agreement, (ii) the Additional Interest Component, as applicable, and (iii) Administrative
Expenses. The Annual Installment for each Parcel of Improvement Area #4 Assessed Property
shall be determined by taking into consideration any available capitalized interest and the TIRZ
Annual Credit Amount applicable to such Parcel then on deposit in the TIRZ No. 16 tax increment
fund, if applicable. The TIRZ Annual Credit Amount shall be determined separately for each
Parcel of Improvement Area #4 Assessed Property and such TIRZ Annual Credit Amount shall
be applied on a Parcel-by-Parcel basis, if applicable. As described in Section V.G., the TIRZ
Revenues attributable to each Parcel of Improvement Area #4 Assessed Property collected in any
given year shall be used to determine such Parcels TIRZ Annual Credit Amount in the following
year (i.e., TIRZ Revenues collected in 2026 shall be used to calculate the TIRZ Annual Credit
Amount applicable to Annual Installments to be collected in 2027). The number of units to be
used for the calculation of the TIRZ Annual Credit Amount, if applicable, shall be determined by
the Administrator based on the information available to the Administrator at the time of such
calculations.
B. AMOUNT OF ASSESSMENTS AND ANNUAL INSTALLMENTS FOR PARCELS LOCATED
WITHIN IMPROVEMENT AREA #5
The Improvement Area #5 Assessment and Annual Installments for each Improvement Area #5
Assessed Property is shown on the Improvement Area #5 Assessment Roll, attached as Appendix
H, and no Improvement Area #5 Assessment shall be changed except as authorized by this Service
and Assessment Plan and the PID Act.
Following the execution of the Improvement Area #5 Reimbursement Agreement, the Annual
Installments from the Improvement Area #5 Assessed Property shall be collected in an amount
sufficient to pay (i) principal and interest on the Improvement Area #5 Reimbursement
Agreement, (ii) the Additional Interest Component, as applicable, and (iii) Administrative
Expenses. The Annual Installment for each Parcel of Improvement Area #5 Assessed Property
shall be determined by taking into consideration any available capitalized interest and the TIRZ
Annual Credit Amount applicable to such Parcel then on deposit in the TIRZ No. 16 tax increment
fund, if applicable. The TIRZ Annual Credit Amount shall be determined separately for each
Parcel of Improvement Area #5 Assessed Property and such TIRZ Annual Credit Amount shall
MuniCap |36
be applied on a Parcel-by-Parcel basis, if applicable. As described in Section V.G., the TIRZ
Revenues attributable to each Parcel of Improvement Area #5 Assessed Property collected in any
given year shall be used to determine such Parcels TIRZ Annual Credit Amount for such Parcel
in the following year (i.e., TIRZ Revenues collected in 2026 shall be used to calculate the TIRZ
Annual Credit Amount applicable to Annual Installments to be collected in 2027). The number of
units to be used for the calculation of the TIRZ Annual Credit Amount, if applicable, shall be
determined by the Administrator based on the information available to the Administrator at the
time of such calculations.
C. AMOUNT OF ASSESSMENTS AND ANNUAL INSTALLMENTS FOR PARCELS LOCATED
WITHIN FUTURE IMPROVEMENT AREAS
As Future Improvement Areas are developed, this Service and Assessment Plan will be amended
to determine the Future Improvement Area Assessment and Annual Installments for each Future
Improvement Area Assessed Property (e.g., an Appendix will be added as the Assessment Roll
for Improvement Area #6, etc.). The Future Improvement Area Assessments shall not exceed the
benefit received by the Future Improvement Area Assessed Property.
D. REALLOCATION OF ASSESSMENTS
1. Subdivision
Upon the subdivision of any Parcel, the Assessment for the Parcel prior to the subdivision shall
be reallocated among the new subdivided Parcels according to the following formula:
A = B x (C ÷ D)
Where the terms have the following meanings:
A = the Assessment for each new subdivided Parcel
B = the Assessment for the Parcel prior to subdivision
C = the estimated number of Equivalent Units to be built on each new subdivided
Parcel
D = the sum of the estimated number of Equivalent Units to be built on all of the new
subdivided Parcels
The calculation of the estimated number of Equivalent Units to be built on a Parcel shall be
performed by the Administrator based on the information available regarding the use of the Parcel,
and such calculation shall be approved by the City Council in the immediately following Annual
Service Plan Update. The calculation as confirmed by the City Council shall be conclusive and
binding. The number of Equivalent Units to be built on a Parcel may be estimated by net land area
and reasonable density ratios.
The sum of the Assessments for all newly subdivided Parcels shall not exceed equal the
Assessment for the Parcel prior to subdivision. The calculation shall be made separately for each
newly subdivided Parcel. The reallocation of an Assessment for a Parcel that is a homestead under
MuniCap |37
Texas law may not exceed the Assessment prior to the reallocation and to the extent the
reallocation would exceed such amount, it shall be prepaid by such amount by the party requesting
the subdivision of the Parcels. Any reallocation pursuant to this section shall be reflected in an
Annual Service Plan Update approved by the City Council.
2. Consolidation
Upon the consolidation of two or more Parcels, the Assessment for the consolidated Parcel shall
be the sum of the Assessments for the Parcels prior to consolidation. The reallocation of an
Assessment for a Parcel that is a homestead under Texas law may not exceed the Assessment prior
to the reallocation and to the extent the reallocation would exceed such amount, it shall be prepaid
by such amount by the party requesting the consolidation of the Parcels. Any reallocation pursuant
to this section shall be reflected in an Annual Service Plan Update approved by the City Council.
The reallocation as confirmed by the City Council shall be conclusive and binding.
E. MANDATORY PREPAYMENT OF ASSESSMENTS
1. If a Parcel subject to Assessments is transferred to a party that is exempt from the payment of
the Assessment under applicable law, or if an owner causes a Parcel subject to Assessments
to become Non-Benefited Property, the owner of such Parcel shall pay to the City the full
amount of the principal portion of the Assessment on such Parcel, plus all Prepayment Costs,
prior to or concurrently with any such conveyance or act, and no such conveyance shall be
effective until the City receives such payment.
2. The payments required above shall be treated the same as any Assessment that is due and
owing under the PID Act, each Assessment Ordinance, and this Service and Assessment Plan,
including the same lien priority, penalties, procedures, and foreclosure specified by the PID
Act.
F. REDUCTION OF ASSESSMENTS
1. If after all Authorized Improvements to be funded with a series of Bonds and/or Improvement
Area Reimbursement Agreement have been completed and Actual Costs for such Authorized
Improvements are less than the Actual Costs or Budgeted Costs of the Authorized
Improvements used to calculate the Assessments securing such series of Bonds and/or related
Improvement Area Reimbursement Agreement, resulting in excess proceeds being available,
and such excess proceeds may be used for any purpose authorized by a Trust Indenture and/or
may be used to reduce the obligations under an Improvement Area Reimbursement Agreement
as provided in the Improvement Area Reimbursement Agreement, then the Assessment
securing such series of Bonds and/or related Improvement Area Reimbursement Agreement
for each Parcel of Assessed Property shall be reduced by the City Council pro rata such that
the sum of the resulting reduced Assessments for all Assessed Properties equals the actual
reduced Actual Costs. The Assessments shall not be reduced to an amount less than the related
outstanding series of Bonds (including by application of the Additional Interest Rate)and/or
amounts due under a related Improvement Area Reimbursement Agreement. If all of the
Authorized Improvements are not completed, the City may reduce the Assessments in another
MuniCap |38
method if it determines such method would better reflect the benefit received by the Parcels
from the Authorized Improvements completed.
2. If all the Authorized Improvements are not undertaken, resulting in excess Bonds proceeds
being available and/or a need to reduce the obligations under an Improvement Area
Reimbursement Agreement, and such excess proceeds may be used for any purpose
authorized by a Trust Indenture and/or may be used to reduce the obligations under an
Improvement Area Reimbursement Agreement, as provided in the Improvement Area
Reimbursement Agreement, as the case may be, then the Assessments and Annual
Installments for each Parcel shall be appropriately reduced by the City Council to reflect only
the amounts required to repay the Bonds and/ or repay obligations under an Improvement
Area Reimbursement Agreement, including interest on the Bonds (including by application
of the Additional Interest Rate) and/ or interest due under an Improvement Area
Reimbursement Agreement and Administrative Expenses. The City Council may reduce the
Assessments and the Annual Installments for each Parcel (i) in an amount that represents the
Authorized Improvements provided for each Parcel or (ii) by an equal percentage calculated
based on number of units, if determined by the City Council to be the most fair and practical
means of reducing the Assessments for each Parcel, such that the sum of the resulting reduced
Assessments equals the amount required to repay the Bonds and/ or repay the obligations
under an Improvement Area Reimbursement Agreement, including interest thereon and
Administrative Expenses. The principal portion of the Assessment for each Parcel shall be
reduced pro rata to the reduction in the Assessments for each Parcel such that the sum of the
resulting reduced principal portion of the Bonds and/or obligations under an Improvement
Area Reimbursement Agreement is equal to the outstanding principal amount of the Bonds
and/or an Improvement Area Reimbursement Agreement.
G. PAYMENT OF ASSESSMENTS
1. Payment in Part or Full
(a) The Assessment for any Parcel may be paid in full at any time. Such payment shall include
all Prepayment Costs. If prepayment in full will result in redemption of Bonds, the
payment amount shall be reduced by the amount, if any, of interest through the date of
redemption of Bonds and reserve funds applied to the redemption under the Trust
Indenture, net of any other costs applicable to the redemption of Bonds.
(b) If an Annual Installment has been billed prior to payment in full of an Assessment, the
Annual Installment shall be due and payable and shall be credited against the payment-in-
full amount.
(c) Upon payment in full of the Assessment and all Prepayment Costs, the City shall deposit
the payment in accordance with the Trust Indenture; whereupon the Assessment shall be
reduced to zero, and the owners obligation to pay the Assessment and Annual Installments
thereof shall automatically terminate.
MuniCap |39
(d) At the option of the owner of the Assessed Property, the Assessment on any Parcel plus
Prepayment Costs may be paid in part, in an amount sufficient to allow for a convenient
redemption of Bonds as determined by the Administrator. Upon the payment of such
amounts for a Parcel, the Assessment for the Parcel shall be reduced, the Assessment Roll
shall be updated to reflect such partial payment, the obligation to pay the Annual
Installment for such Parcel shall be reduced to the extent the partial payment is made, and
the term of the Assessment shall not be reduced.
2. Payment in Annual Installments
The PID Act provides that an Assessment for a Parcel may be paid in full at any time. If not paid
in full, the PID Act authorizes the Assessment to be paid in installments and additionally allows
the City to collect interest (including the Additional Interest Rate), Administrative Expenses and
other authorized charges in installments. An Assessment for a Parcel that is not paid in full will
be collected in Annual Installments each year in the amounts shown on the Assessment Rolls, as
updated as provided for herein, which include interest, Administrative Expenses, and payments
required for the Additional Interest Reserve if and when Bonds are issued. Payment of the Annual
Installments shall commence with tax bills mailed after the initial levy of Assessments.
Improvement Area #4
Each Assessment for the Improvement Area #4 Assessed Property for the Improvement Area #4
Improvements shall be paid with interest of no more than the actual interest rate paid on the
obligation under the Reimbursement Agreement related to the Improvement Area #4
Improvements. Interest on the obligation under the Reimbursement Agreement related to the
Improvement Area #4 Improvements shall be paid based on an interest rate of 9.06% per annum
for years 1 through 5 and 7.04% per annum following the fifth Annual Installment. The interest
on the obligation under the Reimbursement Agreement related to the Improvement Area #4
Improvements shall be paid at a rate not to exceed five hundred basis points (5.00%) above the
highest average index rate for tax-exempt bond reported in a daily or weekly bond index approved
by the City and reported in the month prior to the establishment of the Assessments securing such
portion of the obligation due under the Reimbursement Agreement and continuing for a period of
five years from such date. Such rate shall then adjust and shall not exceed two hundred basis
points (2.00%) above the bond index rate described above and shall continue until the
Assessments are paid in full. The index approved by the City is the Bond Buyer Index for which
the highest average rate during the previous thirty days prior to the levy of Assessments against
the Improvement Area #4 Assessed Property was 5.04%. The City has determined that the
obligation under the Reimbursement Agreement related to the Improvement Area #4
Improvements shall bear interest at the interest rate of 9.06% per annum for years 1 through 5 and
7.04% per annum following the fifth Annual Installment, which rates are equal to or less than the
initial maximum allowable rate of interest of 9.06% for years 1 through 5 and equal to the
maximum allowable rate of interest following the fifth Annual Installment, which would be
7.04%. Furthermore, the Annual Installments of the Assessments levied against Improvement
Area #4 Assessed Property may not exceed the amounts shown on the Improvement Area #4
Assessment Roll. The Improvement Area #4 Assessment Roll is shown as Appendix G.
MuniCap |40
Improvement Area #5
Each Assessment for the Improvement Area #5 Assessed Property for the Improvement Area #5
Improvements shall be paid with interest of no more than the actual interest rate paid on the
obligation under the Reimbursement Agreement related to the Improvement Area #5
Improvements. Interest on the obligation under the Reimbursement Agreement related to the
Improvement Area #5 Improvements shall be paid based on an interest rate of 9.06% per annum
for years 1 through 5 and 7.04% per annum following the fifth Annual Installment. The interest
on the obligation under the Reimbursement Agreement related to the Improvement Area #5
Improvements shall be paid at a rate not to exceed five hundred basis points (5.00%) above the
highest average index rate for tax-exempt bond reported in a daily or weekly bond index approved
by the City and reported in the month prior to the establishment of the Assessments securing such
portion of the obligation due under the Reimbursement Agreement and continuing for a period of
five years from such date. Such rate shall then adjust and shall not exceed two hundred basis
points (2.00%) above the bond index rate described above and shall continue until the
Assessments are paid in full. The index approved by the City is the Bond Buyer Index for which
the highest average rate during the previous thirty days prior to the levy of Assessments against
the Improvement Area #5 Assessed Property was 5.04%. The City has determined that the
obligation under the Reimbursement Agreement related to the Improvement Area #5
Improvements shall bear interest at the interest rate of 9.06% per annum for years 1 through 5 and
7.04% per annum following the fifth Annual Installment, which rates are equal to or less than the
initial maximum allowable rate of interest of 9.06% for years 1 through 5 and equal to the
maximum allowable rate of interest following the fifth Annual Installment, which would be
7.04%. Furthermore, the Annual Installments of the Assessments levied against Improvement
Area #5 Assessed Property may not exceed the amounts shown on the Improvement Area #5
Assessment Roll. The Improvement Area #5 Assessment Roll is shown as Appendix H.
Reduction of Assessments
The Annual Installments shall be reduced to equal the respective Actual Costs of repaying the
obligation under the Improvement Area #4 Reimbursement Agreement or the obligation under the
Improvement Area #5 Reimbursement Agreement, as applicable, and actual Administrative
Expenses (as provided for in the definition of such term), taking into consideration any other
available funds for these costs, such as interest income on account balances.
The City reserves and shall have the right and option to refund the Improvement Area #4 Bonds,
Improvement Area #5 Bonds, and/or issue additional Bonds in accordance with Section 372.027
of the PID Act. In the event of such refunding, the Administrator shall recalculate the Annual
Installments, and if necessary, may adjust, or decrease, the amount of the Annual Installments so
that total Annual Installments of Assessments will be produced in annual amounts that are required
to pay the refunding bonds when due and payable as required by and established in the ordinance
authorizing and/or the indenture securing the refunding bonds, and such refunding bonds shall
constitute Improvement Area #4 Bonds or Improvement Area #5 Bonds, as the case may be, for
purposes of this Service and Assessment Plan.
MuniCap |41
H. COLLECTION OF ANNUAL INSTALLMENTS
No less frequently than annually, the Administrator shall prepare, and the City Council shall
consider and approve, an Annual Service Plan Update to allow for the billing and collection of
Annual Installments. Each Annual Service Plan Update shall include updated Assessment Rolls
and a calculation of the Annual Installment for each Parcel. Administrative Expenses shall be
allocated among Parcels in proportion to the amount of the Annual Installments for the Parcels.
Each Annual Installment shall be reduced by any credits applied under the applicable Trust
Indenture, such as capitalized interest, interest earnings on any account balances, and any other
funds available to the Trustee for such purpose, including any existing deposits for the Additional
Interest Reserve and any applicable TIRZ Annual Credit Amounts. Annual Installments shall be
collected by the City in the same manner and at the same time as ad valorem taxes and shall be
subject to the same penalties, procedures, and foreclosure sale in case of delinquencies as are
provided for ad valorem taxes of the City. The City Council may provide for other means of
collecting the Annual Installments to the extent permitted under the PID Act. The Assessments
shall have lien priority as specified in the PID Act.
Each Annual Installment, including the interest on the unpaid amount of an Assessment, shall be
calculated as of September 1 and updated annually. Each Annual Installment together with interest
thereon shall be delinquent if not paid prior to February 1 of the following year.
The collection of the first Annual Installment for a Parcel of Improvement Area #4 Assessed
Property shall commence upon the earlier of: (i) with tax bills sent the first October after execution
of the Improvement Area #4 Reimbursement Agreement, or (ii) September 1, 2026.
The collection of the first Annual Installment for a Parcel of Improvement Area #5 Assessed
Property shall commence upon the earlier of: (i) with tax bills sent the first October after execution
of the Improvement Area #5 Reimbursement Agreement, or (ii) September 1, 2026.
Any sale of Assessed Property for nonpayment of the Annual Installments shall be subject to the
lien established for the remaining unpaid Annual Installments against such Assessed Property and
such Assessed Property may again be sold at a judicial foreclosure sale if the purchaser thereof
fails to make timely payment of the non-delinquent Annual Installments against such Assessed
Property as they become due and payable.
(remainder of this page is intentionally left blank)
MuniCap |42
VII. THE ASSESSMENT ROLL
A. IMPROVEMENT AREA #4 ASSESSMENT ROLL
The City Council has evaluated each Parcel in Improvement Area #4 (based on numerous factors
such as the applicable zoning for the developable area, the use of proposed Homeowners
Association Property, the Public Property, the types of Authorized Improvements, and other
development factors deemed relevant by the City Council) to determine which Parcels constitute
Improvement Area #4 Assessed Property.
The Improvement Area #4 Assessed Property was assessed for the special benefits conferred upon
such property resulting from the Improvement Area #4 Improvements. Table VII-A summarizes
the $16,630,000 special benefit from the Improvement Area #4 Improvements, including a portion
of the costs of the PID formation and applicable Improvement Area #4 Bond issuance costs. The
Improvement Area #4 Assessment is $16,630,000, which is equal to the benefit received by the
Improvement Area #4 Assessed Property. Accordingly, the total Improvement Area #4
Assessment to be applied to all the Improvement Area #4 Assessed Property is $16,630,000, plus
interest and annual Administrative Expenses. The Improvement Area #4 Assessment for each
Improvement Area #4 Assessed Property is calculated based on the allocation methodologies
described in Section V.D. The Improvement Area #4 Assessment Roll is attached hereto as
Appendix G.
Table VII-A
Improvement Area #4
Special Benefit Summary
Special Benefit Total Cost
Total Improvement Area #4 Improvements $13,399,137
Bond Issuance Costs:
Cost of Issuance $998,500
Reserve Fund $1,222,712
Administrative expenses $95,000
Capitalized Interest $415,750
Underwriters Discount $498,900
Subtotal Bond Issuance Costs $3,230,862
Total Special Benefit $16,630,000
Special Benefit:
Total Special Benefit $16,630,000
Assessment $16,630,000
Excess Benefit $0
1See Table III.A for details.
MuniCap |43
B. IMPROVEMENT AREA #5 ASSESSMENT ROLL
The City Council has evaluated each Parcel in Improvement Area #5 (based on numerous factors
such as the applicable zoning for the developable area, the use of proposed Homeowners
Association Property, the Public Property, the types of Authorized Improvements, and other
development factors deemed relevant by the City Council) to determine which Parcels constitute
Improvement Area #5 Assessed Property.
The Improvement Area #5 Assessed Property is being assessed for the special benefits conferred
upon such property resulting from the Improvement Area #5 Improvements. Table VII-B
summarizes the $6,809,000 special benefit from the Improvement Area #5 Improvements,
including a portion of the costs of the PID formation and applicable Improvement Area #5 Bond
issuance costs. The Improvement Area #5 Assessment amount is $6,809,000, which is equal to the
benefit received by the Improvement Area #5 Assessed Property. Accordingly, the total
Improvement Area #5 Assessment to be applied to all the Improvement Area #5 Assessed Property
is $6,809,000, plus interest and annual Administrative Expenses. The Improvement Area #5
Assessment for each Improvement Area #5 Assessed Property is calculated based on the allocation
methodologies described in Section V.D. The Improvement Area #5 Assessment Roll is attached
hereto as Appendix H.
Table VII-B
Improvement Area #5
Special Benefit Summary
Special Benefit Total Cost
Total Improvement Area #5 Improvements1 $5,429,728
Bond Issuance Costs:
Cost of Issuance $409,149
Reserve Fund $500,628
Administrative expenses $95,000
Capitalized Interest $170,225
Underwriter's Discount $204,270
Subtotal Bond Issuance Costs $1,379,272
Total Special Benefit $6,809,000
Special Benefit:
Total Special Benefit $6,809,000
Assessment $6,809,000
Excess Benefit $0
1See Table III-B for details.
(remainder of this page is intentionally left blank)
MuniCap |44
C. FUTURE IMPROVEMENT AREAS ASSESSMENT ROLL
As Future Improvement Areas are developed, this Service and Assessment Plan will be amended
to determine the Future Improvement Area Assessment for each Parcel or lot located within such
Future Improvement Areas (e.g., an appendix will be added for each Future Improvement Area
Assessment Roll).
D. ANNUAL ASSESSMENT ROLL UPDATES
The Administrator shall prepare, and shall submit to the City Council for approval, annual updates
to the Assessment Roll in conjunction with the Annual Service Plan Update to reflect the
following matters, together with any other changes helpful to the Administrator or the City and
permitted by the PID Act: (i) the identification of each Parcel (ii) the Assessment for each Parcel
of Assessed Property, including any adjustments authorized by this Service and Assessment Plan
or the PID Act; (iii) the Annual Installment for the Assessed Property for the year (if the
Assessment is payable in installments); and (iv) payments of the Assessment, if any, as provided
by Section VI.F of this Service and Assessment Plan.
This Service and Assessment Plan reflects the actual interest under the Improvement Area #4
Reimbursement Agreement and Improvement Area #5 Reimbursement Agreement, respectively,
and which the Annual Installments shall be paid, any reduction in the Improvement Area #4
Assessments and Improvement Area #5 Assessments, and any revisions in the Budgeted Costs to
be funded by the Improvement Area #4 Reimbursement Agreement and the Improvement Area #5
Reimbursement Agreement and Improvement Area #4 Developer funds and the Improvement Area
#5 Developer funds.
(remainder of this page is intentionally left blank)
MuniCap |45
VIII. MISCELLANEOUS PROVISIONS
A. ADMINISTRATIVE REVIEW
The City may elect to designate a third party to serve as Administrator. The City shall notify the
Developer in writing at least thirty (30) days in advance before appointing a third-party
Administrator.
To the extent consistent with the PID Act, an owner of an Assessed Property claiming that a
calculation error has been made in an Assessment Roll, including the calculation of the Annual
Installment, shall send a written notice describing the error to the City not later than thirty (30)
days after the date any amount which is alleged to be incorrect is due prior to seeking any other
remedy. The Administrator shall promptly review the notice, and if necessary, meet with the
Assessed Property owner, consider written and oral evidence regarding the alleged error and
decide whether, in fact, such a calculation error occurred.
If the Administrator determines that a calculation error has been made and the applicable
Assessment Roll should be modified or changed in favor of the Assessed Property owner, such
change or modification shall be presented to the City Council for approval to the extent permitted
by the PID Act. A cash refund may not be made for any amount previously paid by the Assessed
Property owner (except for the final year during which the Annual Installment shall be collected
or if it is determined there are sufficient funds to meet the expenses of the PID for the current
year), but an adjustment may be made in the amount of the Annual Installment to be paid in the
following year. The decision of the Administrator regarding a calculation error relating to an
Assessment Roll may be appealed to the City Council. Any amendments made to an Assessment
Roll pursuant to calculation errors shall be made pursuant to the PID Act.
The decision of the Administrator, or if such decision is appealed to the City Council, the decision
of the City Council, shall be conclusive as long as there is a reasonable basis for such
determination. This procedure shall be exclusive and its exhaustion by any property owner shall
be a condition precedent to any other appeal or legal action by such owner.
B. TERMINATION OF ASSESSMENTS
Each Assessment shall be extinguished on the date the Assessment is paid in full, including unpaid
Annual Installments and Delinquent Collection Costs, if any. After the extinguishment of an
Assessment and the collection of any delinquent Annual Installments and Delinquent Collection
Costs, the City shall provide the owner of the affected Parcel a recordable Notice of the PID
Assessment Termination.
C. AMENDMENTS
Amendments to this Service and Assessment Plan can be made as permitted or required by the
PID Act and under Texas law.
MuniCap |46
The City Council reserves the right to the extent permitted by the PID Act to amend this Service
and Assessment Plan without notice under the PID Act and without notice to property owners of
Parcels of Assessed Property: (i) to correct mistakes and clerical errors; (ii) to clarify ambiguities;
and (iii) to provide procedures for the collection and enforcement of Assessments, Prepayment
Costs, collection costs, and other charges imposed by this Service and Assessment Plan.
D. COUNTY FILING
Within seven days of its approval by the City Council, the City shall file and record this Service
and Assessment Plan in the real property records of the County. In addition, the City shall
similarly file each Annual Service Plan Update approved by the City Council, with each such
filing to occur within seven days of the date each respective Annual Service Plan Update is
approved. All such documents shall be filed and recorded in their entirety.
E. ADMINISTRATION AND INTERPRETATION OF PROVISIONS
The City Council shall administer the PID, this Service and Assessment Plan, and all Annual
Service Plan Updates consistent with the PID Act and shall make all interpretations and
determinations related to the application of this Service and Assessment Plan unless stated
otherwise herein or in the Trust Indenture, such determination shall be conclusive.
F. SEVERABILITY
If any provision, section, subsection, sentence, clause or phrase of this Service and Assessment
Plan or the application of same to an Assessed Property or any person or set of circumstances is
for any reason held to be unconstitutional, void or invalid, the validity of the remaining portions
of this Service and Assessment Plan or the application to other persons or sets of circumstances
shall not be affected thereby, it being the intent of the City Council in adopting this Service and
Assessment Plan that no part hereof or provision or regulation contained herein shall become
inoperative or fail by reason of any unconstitutionality, voidness or invalidity of any other part
hereof, and all provisions of this Service and Assessment Plan are declared to be severable for
that purpose.
If any provision of this Service and Assessment Plan is determined by a court to be unenforceable,
the unenforceable provision shall be deleted from this Service and Assessment Plan and the
unenforceable provision shall, to the extent possible, be rewritten to be enforceable and to give
effect to the intent of the City.
(remainder of this page is intentionally left blank)
APPENDIX A-1
PID MAP
7--
-- Ll
Veale Ranch PID - Boundary Map
1-7
0
ENTA�N
9
7
p�yrpp� VEALE RANCH
P-U� MASTER PLAN
a" " m' ® Z"'.
�W T.
wA""
CNY OF FORT WORTH,
R — ANOTARRANTCOU—,TEXAS Ma[R F�F III
--
i
� i � _ _� _ -
APPENDIX A-2
IMPROVEMENT AREA #4 MAP
0
I 20
1
:
. .� ,11111111111 n11011.1111111 I11111111111111111111-- �
J
_ - --: _ _1111111111:_: 11111111 IIIIIIIIIIIIIIIIIIIII -
. le OIIIIIIII =_ = n101n nunlnHlnnnlln ,xa �nnnl� �NI
' :% � ^ � � nllllllll =e = = 111 p1N 1111 SIII 1 f s- n11nN -
i-
.
I I� I 11111111111 -- _ � _= 1pp19= C � IIIIIIINIIIiI � _ m
\ I I/IIIIIIIIII Op i - �- - 111 �'- C � Ixx11N11111 _ �_
, =ra �� ��y�Il lNlllllllllll -�-_
III/nnn nnwmi 1 n� - imnn
I p111111111 nnnm� =s _ � uNNI
,,;w�-,.,�� 1 spa
�� '/�►I IIINI 111111111111111 1\� .
x1
ay
1 ovementA�
Area #4
ACIN� OF FORT WORTH, R—Ol
1 • 1'' ,/rr,y
V
w
A
i ~
APPENDIX A-3
IMPROVEMENT AREA #5 MAP
-- `-;-���'I � '! -, )`��'*�!��.1 `1\`ziI/ 1\ %
5-4
� VEALE RANCH
MASTER PLAN
�—V vzvaoz<
CITY O: FORT WORTH,
TARRANTCOUNTY,TE%AS Me[R eaoo�n
APPENDIX A-4
FUTURE IMPROVEMENT AREA MAP
a
1
1 \
HE
.Em `
Future Improvement Areas ®� ®�
ti
-- - N
1 t }�, lmprocement
fi �I�C r
7�. r3771
" / Improvement Area 4 `J
VEALE RANCH
MASTER PLAN
` �^�,�\• 'ra. `�II Y/ '{' \ I � I ....m.. '° PARKER AND TARRTCOUNTY.
TEAS �eaoo�n
J —;AW 4
—
APPENDIXB
BUDGETED COSTS OF AUTHORIZED IMPROVEMENTS
Improvement Area #4 Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Furnish/Install Electric Service Pedestal (Traffic Signal)
EA
1.00
$15,500.00
$15,500.00
1 2" Conduit PVC SCH 80 (T)
LF
51.00
$38.00
$1,938.00
13" Conduit PVC SCH 80 (T)
LF
152.00
$40.00
$6,080.00
13" Conduit PVC SCH 80 (B)
LF
132.00
$88.00
$11,616.00
14" Conduit PVC SCH 80 (T)
LF
12.00
$44.00
$528.00
14" Conduit PVC SCH 80 (B)
LF
442.00
$92.00
$40,664.00
1 Furnish/Install 3-Sect Signal Head
EA
13.00
$2,850.00
$37,050.00
Furnish/Install 5-Sect Signal Head
EA
1.00
$4,950.00
$4,950.00
Furnish/Install Ped Singal Head Assembly
EA
2.00
$2,000.00
$4,000.00
jAudible Pedestrian Pushbutton Station
EA
2.00
$6,500.00
$13,000.00
Furnish/Install BBU System EXT Mounted
EA
1.00
$11,500.00
$11,500.00
Furnish/Install Hybrid Detection System
EA
5.00
$13,000.00
$65,000.00
Furnish/Install Model 711 Preemption
LF
3.00
$4,000.00
$12,000.00
Furnish/Install Preemption Cable
EA
822.00
$5.00
$4,110.00
Furnish/Install PTZ Camera
EA
1.00
$11,500.00
$11,500.00
Furnish/Install Communication Modem
LF
1.00
$5,500.00
$5,500.00
Furnish/Install CATS Ethernet Cable
LF
1,600.00
$5.00
$8,000.00
I5/C 14AWG Multi -Conductor Cable
LF
20.00
$5.00
$100.00
17/C 14 AWG Multi -Conductor Cable
LF
705.00
$6.00
$4,230.00
110/C 14 AWG Multi -fond uctor Cable
LF
218.00
$7.00
$1,526.00
120/C 14 AWG Multi-Cond uctor Cable
LF
1,155.00
$11.00
$12,705.00
13/C 14 AWG Multi -Conductor Cable
LF
228.00
$5.00
$1,140.00
NO 6 Insulated Electric Condr
LF
36.00
$5.00
$180.00
ENO SO Insulated Electric Condr
LF
1,888.00
$3.00
$5,664.00
ENO 6 Bare Electric Condr SLD
LF
18.00
$5.00
$90.00
ENO B Bare Electric Condor SLD
LF
771.00
$4.00
$3,084.00
Furnish/Install Ground Box Type D, w/Apron
EA
8.00
$4,000.00
$32,000.00
Furnish/Install 10'-20' Ped Pole Assembly
LF
1.00
$4,500.00
$4,500.00
Furnish/Install Type 41 Signal Pole
EA
2.00
$15,500.00
$31,000.00
Furnish/Install Type 43 Signal Pole
EA
1.00
$19,000.00
$19,000.00
Furnish/Install Type 45 Signal Pole
EA
2.00
$19,500.00
$39,000.00
Furnish/Install Mast Arm 16'-36'
EA
2.00
$10,000.00
$20,000.00
Furnish/Install Mast Arm 40'-48'
EA
1.00
$11,000.00
$11,000.00
Furnish/Install Mast Arm 52'-60'
EA
2.00
$14,000.00
$28,000.00
STY I Signal Foundation
EA
1.00
$6,500.00
$6,500.00
STY 3 Signal Foundation
EA
2.00
$8,000.00
$16,000.00
STY 4 Signal Foundation
EA
1.00
$8,500.00
$8,500.00
STY S Signal Foundation
EA
2.00
$9,000.00
$18,000.00
Signal Cabinet Foundation - 352i & BBU
EA
1.00
$7,800.00
$7,800.00
Furnish/Install ATC Signal Controller
EA
1.00
$6,800.00
$6,800.00
Furnish/Install 352i Controller Cabinet Assembly
EA
1.00
$32,000.00
$32,000.00
Furnish/Install LED Lighting Fixture (137 Watt ATB2 Cobra Head)
EA
5.00
$1,100.00
$5,500.00
Furnish/Install Alum Sign Mast Arm Mount
EA
16.00
$1,000.00
$16,000.00
Furnish/Install Alum Sign Ground Mount City Std.
EA
6.00
$1,000.00
$6,000.00
JIN SM RD SUP&AM TYIOBWG(1)SA(P)
EA
6.00
$500.00
$3,000.00
Remove Existing Wire Fence
LF
188.00
$6.00
$1,128.00
jPost & Cable Fence (Remove)
LF
80.00
$10.00
$800.00
lConcrete Sidewalks (5")
SY
15.00
$62.00
$930.00
Plane Asphalt Concrete Pavement (1")
SY
1,515.00
$32.00
$48,480.00
AFL BS(CMP In Place)(TY A GR I-2)(10")
SY
1,515.00
$115.00
$174,225.00
Lime Treatment(Subgrade)(6")
SY
2,075.00
$9.00
$18,675.00
lConcrete Pavement(CONT REINF - CRCP)(8")
SY
560.00
$102.00
$57,120.00
STY 21 Comb Island Ramp
EA
1.00
$4,000.00
$4,000.00
STY 1 Perpendicular Curb Ramp
EA
2.00
$4,500.00
$9,000.00
1 Plane Asphalt Concrete Pavement (1") (Change Order 1)
SY
(1,515.00)
$32.00
($48,480.00)
STY-B Asphalt Pavement (5") (Change Order 1)
SY
1,933.00
$54.00
$104,382.00
STY-C Asphalt Pavement (3") (Change Order 1)
SY
1,886.00
$48.00
$90,528.00
lClearing&Grubbing -TxDOT Driveway
AC
1.45
$2,500.00
$3,625.00
Cut -TxDOT Driveway
CY
249.00
$8.00
$1,992.00
Fill-TxDOTDriveway
CY
1,572.00
$12.00
$18,864.00
Traffic Control-TxDOTDriveway
LS
1.00
$25,000.00
$25,000.00
Subtotal - Roadway Improvements
$1,102,524.00
Water Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Unclassified Excavation - Utility> 8" Corridor
CY
2,040.00
$4.75
$9,690.00
Trench Safety
LF
11,363.00
$2.00
$22,726.00
12" PVC Water Pipe
LF
1,088.00
$112.00
$121,856.00
12" DIP Water
LF
83.00
$142.00
$11,786.00
16" PVC Water Pipe
LF
2,646.00
$162.00
$428,652.00
16" DIP Water
LF
680.00
$222.00
$150,960.00
24" PVC Water Pipe
LF
5,717.00
$242.00
$1,383,514.00
24" DIP Water
LF
222.00
$282.00
$62,604.00
Fire Hydrant (Assembly)
EA
1.00
$8,500.00
$8,500.00
1" Water Service
EA
13.00
$1,450.00
$18,850.00
12" Gate Valve
EA
6.00
$4,500.00
$27,000.00
16" Gate Valve & Vault
EA
2.00
$28,500.00
$57,000.00
24" Gate Valve & Vault
EA
9.00
$62,500.00
$562,500.00
Ductile Iron Water Fittings w/ Restraint
TON
15.02
$16,500.00
$247,797.00
6"Blow OffValve
EA
1.00
$14,500.00
$14,500.00
8"Blow OffValve
EA
1.00
$18,500.00
$18,500.00
2" Combination Air Valve Assembly for Water
EA
1.00
$12,500.00
$12,500.00
4" Combination Air Valve Assembly for Water
EA
1.00
$30,500.00
$30,500.00
20" Casing By Open Cut
LF
508.00
$320.00
$162,560.00
24" Casing By Open Cut
LF
407.00
$380.00
$154,660.00
42" Casing By Open Cut
LF
529.00
$720.00
$380,880.00
Connection to Existing 24" Water Main
EA
1.00
$9,500.00
$9,500.00
Erosion Control Matting
SY
127.00
$12.00
$1,524.00
12" DIP Water, CSS Backfill
LF
427.00
$162.00
$69,174.00
24" DIP Water, CSS Backfill
LF
500.00
$312.00
$156,000.00
Concrete Riprap
SY
1,041.00
$82.00
$85,362.00
Utility Markers
LS
1.00
$2,500.00
$2,500.00
Water Testing (Excluding Geotech)
LF
12,903.00
$2.00
$25,806.00
124" Ring Connection
EA
1.00
$105,000.00
$105,000.00
18" PVC Water Pipe (Change Order 1)
LF
23.00
$56.00
$1,288.00
18" DIP Water (Change Order 1)
LF
20.00
$66.00
$1,320.00
1 12" PVC Water Pipe (Change Order 1)
LF
(7.00)
$112.00
($784.00)
1 12" DIP Water (Change Order 1)
LF
7.00
$142.00
$994.00
124" PVC Water Pipe (Change Order 1)
LF
(15.00)
$242.00
($3,630.00)
124" Gate Valve & Vault (Change Order 1)
EA
(2.00)
$62,500.00
($125,000.00)
1 Ductile Iron Water Fittings w/ Restraint (Change Order 1)
TON
(0.90)
$16,500.00
($14,850.00)
18" Water Lowering (Change Order 1)
EA
1.00
$5,500.00
$5,500.00
20" Casing By Open Cut (Change Order 1)
LF
20.00
$320.00
$6,400.00
24" Casing By Open Cut (Change Order 1)
LF
(209.00)
$380.00
($79,420.00)
12" DIP Water, C55 Backfill (Change Order 1)
LF
20.00
$162.00
$3,240.00
1 12" Water Pipe, CSS Backfill (Change Order 1)
LF
(20.00)
$132.00
($2,640.00)
124" Ring Connection (Change Order 1)
EA
(1.00)
$105,000.00
($305,000.00)
Subtotal - Water Improvements
$4,020,129.00
Sewer Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Post -CCTV Inspection
LF
1,911.00
$6.00
$11,466.00
Manhole Vacuum Testing
EA
11.00
$500.00
$5,500.00
Trench Safety
LF
1,911.00
$4.00
$7,644.00
Trench Water Stops
EA
7.00
$750.00
$5,250.00
15" PVC Sewer Pipe SDR-26
LF
345.00
$326.00
$112,470.00
15" DIP Sewer Pipe
LF
246.00
$396.00
$97,416.00
18" Epoxy Coated Ductile Iron Sewer Pipe
LF
226.00
$425.00
$96,050.00
30" Fiberglass Reinforced Sewer Pipe
LF
1,343.00
$426.00
$572,118.00
24" Casing By Open Cut
LF
289.00
$420.00
$121,380.00
36" Casing By Open Cut
LF
226.00
$620.00
$140,120.00
48" Casing By Open Cut
LF
30.00
$820.00
$24,600.00
15" Sewer Pipe, CSS Backfill
LF
20.00
$346.00
$6,920.00
18" DIP Sewer, CSS Backfill
LF
141.00
$456.00
$64,296.00
30" Fiberglass Sewer Pipe, CSS Backfill
LF
20.00
$466.00
$9,320.00
4' Manhole
EA
3.00
$8,000.00
$24,000.00
4' Drop Manhole
EA
2.00
$9,000.00
$18,000.00
5' Manhole
EA
7.00
$10,000.00
$70,000.00
Concrete Collar for Manhole
EA
11.00
$1,000.00
$11,000.00
Remove 4' Sewer Manhole
EA
1.00
$3,500.00
$3,500.00
WAGER 3000 Manhole Scrubber
EA
1.00
$18,500.00
$18,500.00
4' Extra Depth Manhole
VF
60.90
$275.00
$16,747.50
5' Extra Depth Manhole
VF
70.00
$325.00
$22,750.00
Epoxy Manhole Liner
VF
197.60
$485.00
$95,836.00
Concrete Riprap
Sy
252.00
$82.00
$20,664.00
Post -CCTV Inspection (Change Order 1)
LF
378.00
$6.00
$2,268.00
Manhole Vacuum Testing (Change Order 1)
EA
4.00
$500.00
$2,000.00
Trench Safety (Change Order 1)
LF
378.00
$4.00
$1,512.00
Trench Water Stops (Change Order 1)
EA
(3.00)
$750.00
($2,250.00)
1 12" Sanitary Sewer Pipe (Change Order 1)
LF
2.00
$276.00
$552.00
1 15" Sanitary Sewer Pipe (Change Order 1)
LF
24.00
$326.00
$7,824.00
120" Casing by Open Cut (Change Order 1)
LF
(5.00)
$320.00
($1,600.00)
124" Casing by Open Cut (Change Order 1)
LF
(159.00)
$420.00
($66,780.00)
136" Casing by Open Cut (Change Order 1)
LF
(8.00)
$620.00
($4,960.00)
1 18" DIP Sanitary Sewer, CSS Backfill (Change Order 1)
LF
(141.00)
$456.00
($64,296.00)
14' Manhole (Change Order 1)
EA
1.00
$8,000.00
$8,000.00
14' Drop Manhole (Change Order 1)
EA
3.00
$9,000.00
$27,000.00
15' Manhole(Change Order 1)
EA
(2.00)
$30,000.00
($20,000.00)
14' Extra Depth Manhole (Change Order 1)
VF
(53.00)
$275.00
($14,575.00)
Concrete Collar for Manhole (Change Order 1)
EA
4.00
$1,000.00
$4,000.00
lConcrete Rip Rap (Change Order 1)
Sy
(10.00)
$82.00
($820.00)
1 15" DIP Sanitary Sewer (Change Order 1)
LF
(46.00)
$396.00
($18,216.00)
1 18" Epoxy Coated D.I. Sanitary Sewer Pipe (Change Order 1)
LF
(226.00)
$425.00
($96,050.00)
1 18" Epoxy Coated D.I. Sanitary Sewer Pipe, CSS Backfill (Change Order 1)
LF
359.00
$456.00
$163,704.00
15' Drop Manhole (Change Order 1)
EA
1.00
$11,000.00
$11,000.00
Deep Trench Deduct (Change Order 1)
LS
(1.00)
$140,550.00
($140,550.00)
Subtotal - Sewer Improvements
$1,373,310.50
Storm Drainage Improvements
Item Description
Unit
Quantity I
Unit Price
Total Item Lost
TxDOT Driveway
�RC Pipe (CL III)(24")
LF
113.00
$115.00
$12,995.00
1 12" Rip Rap (Stone Common)(Grout)
CY
23.00
$435.00
$10,005.00
124" Headwall (PSET-SP)
EA
2.00
$4,500.00
$9,000.00
124" Headwall (CH - FW -0)
EA
1.00
$4,500.00
$4,500.00
Remove STR(Headwall)
EA
1.00
$1,500.00
$1,500.00
124" RCP CL III (Change Order 1)
LF
(113.00)
$115.00
($12,995.00)
11-leadwall (PSET-SP) 24" (Change Order 1)
EA
(1.00)
$4,500.00
($4,500.00)
Headwall (CH-FW-0) 24" (Change Order 1)
EA
(1.00)
$4,500.00
($4,500.00)
14X2 RCB (Change Order 1)
LF
127.00
$240.00
$30,480.00
14X2 Headwall (Change Order 1)
EA
2.00
$6,500.00
$13,000.00
Subtotal - Storm Drainage Improvements
$59,495.00
Other Soft and Miscellaneous Costs
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Engineering, Surveying, Staking
LS
1
$1,537,500
$1,537,500
lConstruction Materials Testing
LS
1
$15,000
$15,000
Erosion Control & SWPPP
LS
1
$15,000
$15,000
City of Fort Worth Fees
LS
1
$361,702
$361,702
Bonding Fees (Maintenance, Payment, Performance, Development)
LS
1
$166,933
$166,933
Easement and Right -of -Way Dedication
LS
1
$50,000
$50,000
Construction Management
%
5%
$6,555,449
$327,772
1Subtotal - Other Soft and Miscellaneous Costs
$2,473,907.12
BEAR CREEK IMPROVEM
TMTt
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Unclassified Excavation - Public ROW
CY
48,270.00
$4.75
$229,282.50
Hydrated Lime (36#/SY)
TN
232.00
$275.00
$63,800.00
8" Lime Treatment (36#/SY)
SY
12,860.00
$5.00
$64,300.00
10" Conc Pvmt
SY
12,040.00
$108.00
$1,300,320.00
Barrier Free Ramp, Type P-1
EA
4.00
$2,400.00
$9,600.00
Topsoil
CY
786.00
$28.00
$22,008.00
Seeding, Hydromulch
SY
7,070.00
$2.00
$14,140.00
4" Conc Sidewalk
SF
36,690.00
$4.25
$155,932.50
Construct Std Pvmt Header
LF
85.00
$30.00
$2,550.00
Pedestrian Hand Rail
LF
100.00
$140.00
$14,000.00
Construct Barricade
EA
2.00
$800.00
$1,600.00
4" (White) Dashed Stripe w/ Raised Pavement Markers
LF
3,579.00
$3.00
$10,737.00
8" (White) Solid Stripe w/ Raised Pavement Markers
LF
657.00
$4.00
$2,628.00
Lane Legend (Arrow)
EA
11.00
$500.00
$5,500.00
Lane Legend (Only)
EA
11.00
$500.00
$5,500.00
12" (White) 3'-9' Dotted Lane Drop Line
LF
344.00
$10.00
$3,440.00
6" (White) Solid Stripe w/ 18" (White) Solid Stripes (In Ceveron Pattern)
SF
1,065.00
$4.00
$4,260.00
Furnish/Install Alum Sign Ground Mount City Std. - Stop w/ Street Name Blades (R3-1)
EA
1.00
$1,000.00
$1,000.00
Furnish/Install Alum Sign Ground Mount City Std. - Speed Limit (R2-1)
EA
3.00
$500.00
$1,500.00
Furnish/Install Alum Sign Ground Mount City Std. - Left Turn Only (113-51)
EA
2.00
$500.00
$1,000.00
Furnish/Install Alum Sign Ground Mount City Std. - Stop Here For Pedestrians (113-5b)
EA
1.00
$500.00
$500.00
Furnish/Install Alum Sign Ground Mount City Std. - Left, Left, Right Only (R3-8LUR)
EA
4.00
$500.00
$2,000.00
Furnish/Install Alum Sign Ground Mount City Std. - Right Lane Must Turn Right (R3-7R)
EA
2.00
$500.00
$1,000.00
Furnish/Install Elec Sew Pedestal
EA
1.00
$10,500.00
$10,500.00
2" Condt PVC SCH 80 (T)
LF
2,992.00
$15.00
$44,880.00
Rdwy Illum Foundation TY 3,5,6, and 8
EA
16.00
$1,800.00
$28,800.00
Rdwy Illum TY 18 Pole
EA
16.00
$3,400.00
$54,400.00
Install Type 33A Arm
EA
22.00
$600.00
$13,200.00
Type R2 Luminaire
EA
22.00
$750.00
$16,500.00
Electric Overhead Line Burying Allowance
LS
1.00
$25,000.00
$25,000.00
Subtotal - Roadway Improvements
$2,109,878.00
Water Impro
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Trench Safety
LF
2,147.00
$2.00
$4,294.00
12" PVC Water Pipe
LF
2,071.00
$112.00
$231,952.00
12" DIP Water
LF
36.00
$142.00
$5,112.00
12" Gate Valve
EA
8.00
$4,500.00
$36,000.00
Ductile Iron Water Fittings w/ Restraint
TON
2.47
$9,500.00
$23,484.00
2" Combination Air Valve Assembly for Water
EA
1.00
$14,500.00
$14,500.00
20" Casing By Open Cut
LF
20.00
$320.00
$6,400.00
12" Water Pipe, CSS Backfill
LF
40.00
$132.00
$5,280.00
Water Testing (Excluding Geotech)
LF
2,147.00
$1.00
$2,147.00
Subtotal - Water Improvements
$329,169.00
Sewer Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
`Subtotal - Sewer Improvements
$0.00
Storm Drainage Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Trench Safety
LF
544.00
$2.00
$1,088.00
Post -CCTV Inspection
LF
544.00
$2.00
$1,088.00
21" RCP, Class III
LF
119.00
$75.00
$8,925.00
24" RCP, Class III
LF
183.00
$85.00
$15,555.00
27" RCP, Class III
LF
8.00
$105.00
$840.00
6x3 Box Culvert
LF
234.00
$450.00
$105,300.00
4' Storm Junction Box
EA
2.00
$5,500.00
$11,000.00
10' Recessed Inlet
EA
2.00
$5,000.00
$10,000.00
15' Recessed Inlet
EA
2.00
$6,000.00
$12,000.00
12" Rock Riprap
SY
192.00
$125.00
$24,000.00
(2)-6'x3' PW-14:1 Sloped End Wingwall
iubtotal - Storm Drainage Improvements
Landscape, Irrigation & Hardscape Allowance
al - Public Landscaping, Trails and Parks
Item Description
1Construction Materials Testing
IErosion Control & SWPPP
1Easementand Right -of -Way Dedication
1Construction Management
ISubtotal - Other Soft and Miscellaneous Costs
IEA 1 2.001 $19,950.001 $39,900.00
$229,696.00
LS I 1.001 $675,000.001 $675,000.00
$675,000.00
Unit Quantity Unit Price
Total Item Cost
LS 1 $120,449
$120,449
LS 1 $10,000
$10,000
LS 1 $70,000
$70,000
5% $3,343,743
$167,187
$367,636.15
KENWOOD
Water Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Mobilization
LS
1.00
$7,500.00
$7,500.00
Remove 12" Water Line
LF
110.00
$40.00
$4,400.00
Remove 16" Water Line
LF
30.00
$60.00
$1,800.00
14"-12" Water Abandonment Plug 6"
EA
2.00
$1,500.00
$3,000.00
15alvage Fire Hydrant
EA
3.00
$1,000.00
$3,000.00
1 12" PVC Water Pipe (Restrained Joints)
LF
580.00
$142.00
$82,360.00
116" DIP Water
LF
10.00
$322.00
$3,220.00
116" PVC C900 Water Pipe (Restrained Joints)
LF
126.00
$262.00
$33,012.00
14' Wide Asphalt Pvmt Repair, Residential
LF
599.00
$48.00
$28,752.00
15' Wide Asphalt Pvmt Repair, Residential
LF
136.00
$60.00
$8,160.00
jAsphalt Pvmt Repair Beyond Defined Width, Arterial
SY
155.00
$108.00
$16,740.00
130" Casing By Open Cut
LF
102.00
$420.00
$42,840.00
Fire Hydrant
EA
3.00
$6,500.00
$19,500.00
1 12" Gate Valve
EA
4.00
$6,000.00
$24,000.00
�1" Water Service, Meter Reconnection
EA
3.00
$2,500.00
$7,500.00
�1" Bored Water Service
EA
5.00
$3,500.00
$17,500.00
lConnection to Existing 16" Water Main
EA
3.00
$10,500.00
$31,500.00
1 Connection to Existing 4"-12" Water Main 8"
EA
2.00
$3,500.00
$7,000.00
lConnection to Existing 4"-12" Water Main 6"
EA
1.00
$2,500.00
$2,500.00
116" Gate Valve with Vault
EA
1.00
$26,500.00
$26,500.00
116" x 12" Tapping Sleeve & Valve
EA
1.00
$24,500.00
$24,500.00
Ductile Iron Water Fittings
TONS
4.00
$9,500.00
$38,000.00
Traffic Control
LS
1.00
$6,500.00
$6,500.00
lWaterline Sterilization and Pressure Testing
LF
716.00
$4.00
$2,864.00
Trench Safety
LF
716.00
$2.00
$1,432.00
Right of Way Clearing, Restoration, and Seeding of Disturbed Areas
LF
716.00
$10.00
$7,160.00
lComply with TPDES Construction General Permit TXR 150000
LS
1.00
$3,500.00
$3,500.00
Mobilization (Change Order 1)
LS
0.50
$7,500.00
$3,750.00
lRemove 12" Water Line (Change Order 1)
LF
(110.00)
$40.00
($4,400.00)
lRemove 16" Water Line (Change Order 1)
LF
(30.00)
$60.00
($1,800.00)
Salvage Fire Hydrant (Change Order 1)
EA
(1.00)
$1,000.00
($1,000.00)
1 12" WTR Pipe (PVC Restrained) (Change Order 1)
LF
412.00
$142.00
$58,504.00
116" DIP Water (Change Order 1)
LF
(10.00)
$322.00
($3,220.00)
116" PVC C900 Water Pipe (Restrained Joints) (Change Order 1)
LF
(126.00)
$262.00
($33,012.00)
130" Casing by Open Cut (Change Order 1)
LF
(102.00)
$420.00
($42,840.00)
1Fire Hydrant (Change Order 1)
EA
(1.00)
$6,500.00
($6,500.00)
1 12" Gate Valve (Change Order 1)
EA
1.00
$6,000.00
$6,000.00
lConnection to Existing 16" Water Main (Change Order 1)
EA
(2.00)
$10,500.00
($21,000.00)
116" Gate Valve with Vault (Change Order 1)
EA
(1.00)
$26,500.00
($26,500.00)
Ductile Iron Water Fittings (Change Order 1)
TON
(1.30)
$9,500.00
($12,302.50)
Traffic Control (Change Order 1)
LS
0.50
$6,500.00
$3,250.00
Waterline Sterilization and Pressure Testing (Change Order 1)
LF
296.00
$4.00
$1,184.00
Trench Safety (Change Order 1)
LF
296.00
$2.00
$592.00
1 Right of Way Clearing, Restoration, and Seeding of Disturbed Areas (Change Order 1)
LF
296.00
$10.00
$2,960.00
lComply with TPDES Construction General Permit (Change Order 1)
LS
0.50
$3,500.00
$1,750.00
jConc Collar for Valves (Change Order 1)
EA
2.00
$2,000.00
$4,000.00
112" DIP PIPE (Change Order 1)
LF
20.00
$162.00
$3,240.00
Conn to Ex 16" WTR Main (Change Order 1)
EA
1.00
$10,000.00
$10,000.00
14' W Asphalt Pvmt Repair, Resid (12" WTR)
LF
435.00
$40.00
$17,400.00
116" x 12" Tapping Sleeve & Valve
EA
1.00
$28,500.00
$28,500.00
Subtotal - Water Improvements
$443,295.50
Sewer Improvements
Item Description
Unit
quantity
Unit Price
Total Item cost
�RMV 6" SS Line (Change Order 1)
LF
94.00
$50.00
$4,700.00
IRMV 4" SS MH (Change Order 1)
EA
1.00
$3,500.00
$3,500.00
IMH Vacuum Testing (Change Order 1)
EA
2.00
$250.00
$500.00
Post CCTV Inspection (Change Order 1)
LF
94.00
$10.00
$940.00
Bypass Pumping (Change Order 1)
LS
1.00
$15,000.00
$15,000.00
Trench Safety (Change Order 1)
LF
94.00
$10.00
$940.00
jConc Collar For MHS (Change Order 1)
EA
2.00
$2,000.00
$4,000.00
1 16" Casing by Open Cut (Change Order 1)
LF
94.00
$420.00
$39,480.00
18" DIP SS Pipe (W/ Protecto 401) (Change Order 1)
LF
94.00
$186.00
$17,484.00
1 Epoxy MH Liner (Change Order 1)
CF
6.44
$435.00
$2,801.40
14' MH - W/ CSS Encase 1' Around (Change Order 1)
EA
2.00
$7,800.00
$15,600.00
Traffic Control (TXDOT ROW) (Change Order 1)
LS
1.00
$9,500.00
$9,500.00
1 ROW Clear, Restore, & SEED DIST AREA (Change Order 1)
LF
110.00
$20.00
$2,200.00
15' W ASPHLT PVMT REPAIR, RESID (8" SS -16" Encase) (Change Order 1)
LF
110.00
$72.00
$7,920.00
JASPHLT PVMT REPAIR BYND DEF WIDTH, ART (Change Order 1)
SY
61.00
$80.00
$4,880.00
Subtotal - Sewer Improvements
$129,445.40
Storm Drainage Improvements
Item Description
Unit
quantity
Unit Price
Total Item Cost
Subtotal - Storm Drainage Improvements
$0.00
Public Landscaping, Trails and Parks
Item Description
Unit
quantity
Unit Price
Total Item cost
Subtotal - Public Landscaping, Trails and Parks
$0.00
Other Soft and Miscellaneous Costs
Item Description
Unit
quantity
Unit Price
Total Item cost
Engineering, Surveying, Staking
LS
1
$18,890.31
$18,890.31
lConstruction Materials Testing
LS
1
$5,780.00
$5,780.00
Erosion Control & SWPPP
LS
1
$2,500.00
$2,500.00
City of Fort Worth Fees
LS
1
$29,854.47
$29,854.47
lConstruction Management
%
5%
$572,741
$28,637
Subtotal - Other Soft and Miscellaneous Costs $85,661.83
ZUIVIMARYTOTALS
AUTHORIZED IMPROVEMENTS
Roadway Improvements
$1,102,524
Water Improvements
$4,020,129
Sewer Improvements
$1,373,311
Storm Drainage Improvements
$59,485
Public Landscaping, Trails and Parks
$0
Other Soft and Miscellaneous Costs
$2,473,907
Subtotal - AUTHORIZED IMPROVEMENTS
$9,029,356
BEAR CREEK IMPROVEMENTS
Roadway Improvements
$2,109,878
Water Improvements
$329,169
Sewer Improvements
$0
Storm Drainage Improvements
$229,696
Public Landscaping, Trails and Parks
$675,000
Other Soft and Miscellaneous Costs
$367,636
Subtotal - BEAR CREEK IMPROVEMENTS
$3,711,379
KENWOOD LONGVUE IMPROVEMENTS
Roadway Improvements
$0
Water Improvements
$443,296
Sewer Improvements
$129,445
Storm Drainage Improvements
$0
Public Landscaping, Trails and Parks
$0
Other Soft and Miscellaneous Costs
$85,662
Subtotal - KENWOOD LONGVUE IMPROVEMENTS
$658,403
TOTAL- IMPROVEMENT AREA #4
Roadway Improvements
$3,212,402
Water Improvements
$4,792,594
Sewer Improvements
$1,502,756
Storm Drainage Improvements
$289,181
Public Landscaping, Trails and Parks
$675,000
Other Soft and Miscellaneous Costs
$2,927,205
•IMPROVEMENT AREA #4
$13,399,137
Excavation Improvements
Item Description
Clearing & Grubbing
Unclassified Excavation
Rough Lot Grading
Subtotal- Excavation Improvements
Roadway Improvements
Item Description
2" Type D HMAC with 4" Type B HMAC
Mountable Concrete Curb and 2' Gutter
Mountable Concrete Curb and 4' Gutter
6" Lime Stabilized Subgrade
Hydrated Lime (32#/SY)
6' Concrete Sidewalk
12' Concrete Sidewalk
6'-12' Transition Sidewalk
Pavement Header (24')
End of Road Barricade
Stop Sign with Street Name Blades (R3-1)
Mount Concrete Curb & 2' Gutter (Change Order 1)
Mount Concrete Curb & 4' Gutter (Change Order 1)
Sidewalk (Change Order 1)
Texcon (Change Order 2)
Crossings (Change Order 3)
Subtotal - Roadway Improvements
Unit Quantity Unit Price Total Item Cost
AC 602.00 $800.00 $481,600.00
CY 2,617,760.00 $4.75 $12,434,360.00
LOT 133.00 $600.00 $79,800.00
$12,995,760.00
Unit
Quantity
Unit Price
Total Item Cost
SY
40,460.00
$62.00
$2,508,520.00
LF
29,169.00
$30.00
$875,070.00
LF
5,994.00
$40.00
$239,760.00
SY
68,689.00
$4.00
$274,756.00
TON
1,099.00
$275.00
$302,225.00
SF
53,401.00
$4.25
$226,954.25
SF
38,897.00
$4.25
$165,312.25
SF
3,800.00
$4.25
$16,150.00
EA
1.00
$800.00
$800.00
EA
1.00
$1,000.00
$1,000.00
EA
14.00
$1,000.00
$14,000.00
LF
(29,169.00)
$30.00
($875,070.00)
LF
(5,994.00)
$40.00
($239,760.00)
SF
(53,401.00)
$4.25
($226,954.25)
LS
1.00
$2,035,219.16
$2,035,219.16
LS
1.00
$139,684.30
$139,684.30
$5,457,666.71
Water Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Trench Safety
LF
17,043.00
$1.00
$17,043.00
8" PVC Water Pipe
LF
16,983.00
$56.00
$951,048.00
8" DIP Water
LF
60.00
$66.00
$3,960.00
Fire Hydrant (Assembly)
EA
30.00
$7,200.00
$216,000.00
1" Water Service
EA
133.00
$1,300.00
$172,900.00
8" Gate Valve
EA
53.00
$2,500.00
$132,500.00
Ductile Iron Water Fittings w/ Restraint
TON
8.83
$9,500.00
$83,913.50
8" Water Lowering
EA
36.00
$5,500.00
$198,000.00
20" Casing By Open Cut
LF
60.00
$320.00
$19,200.00
Water Testing (Excluding Geotech)
LF
17,043.00
$1.00
$17,043.00
Trench Safety (Change Order 1)
LF
(204.00)
$1.00
($204.00)1
18" PVC Water Pipe (Change Order 1)
LF
87.00
$56.00
$4,872.00 1
1 Ductile Iron Water Fittings w/ Restraint (Change Order 1)
TON
(0.20)
$9,500.00
($2,090.00)1
1 8" Water Lowering (Change Order 1)
EA
2.00
$5,500.00
$11,000.00
20" Casing By Open Cut (Change Order 1)
EA
21.00
$320.00
$6,720.00
Water Testing (Excluding Geotech)(Change Order l)
LF
(204.00)
$1.00
($204.00)1
IServices(Change Order 2)
LS
1.00
$150,000.00
$150,000.00 1
Subtotal - Water Improvements
$1,981,701.50
Sewer Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Post -CCTV Inspection
LF
17,076.00
$4.00
$68,304.00
Manhole Vacuum Testing
EA
128.00
$200.00
$25,600.00
Trench Safety
LF
17,076.00
$4.00
$68,304.00
Trench Water Stops
EA
47.00
$250.00
$11,750.00
4" Sewer Service
EA
133.00
$950.00
$126,350.00
8" Sewer Pipe (SDR-26, ASTM D3034)
LF
16,358.00
$104.00
$1,701,232.00
8" DIP Sewer Pipe
LF
87.00
$144.00
$12,528.00
20" Casing By Open Cut
LF
25.00
$320.00
$8,000.00
8" Sewer Pipe, CSS Backfill
LF
631.00
$124.00
$78,244.00
4' Manhole
EA
119.00
$6,800.00
$809,200.00
4' Drop Manhole
EA
9.00
$7,800.00
$70,200.00
Concrete Collar for Manhole
EA
128.00
$600.00
$76,800.00
4' Extra Depth Manhole
VF
588.30
$250.00
$147,075.00
Epoxy Manhole Liner
VF
614.00
$485.00
$297,790.00
4' Extra Depth Manhole (Change Order 1)
VF
(14.00)
$250.00
($3,500.00)1
Epoxy Manhole Liner (Change Order 1)
VF
(122.40)
$485.00
($59,364.00)1
Deep Trench Deduct (Change Order 1)
LS
(1.00)
$78,000.00
($78,000.00)1
IServices(Change Order 2)
LS
1.00
$150,000.00
$150,000.00
Subtotal - Sewer Improvements
$3,510,513.00
Storm Drainage Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Trench Safety
LF
15,445.00
$2.00
$30,890.00
Post -CCTV Inspection
LF
15,445.00
$2.00
$30,890.00
18" RCP, Class III
LF
1,112.00
$65.00
$72,280.00
21" RCP, Class III
LF
1,628.00
$75.00
$122,100.00
24" RCP, Class III
LF
1,722.00
$85.00
$146,370.00
27" RCP, Class III
LF
727.00
$105.00
$76,335.00
30" RCP, Class III
LF
1,805.00
$115.00
$207,575.00
36" RCP, Class III
LF
1,862.00
$160.00
$297,920.00
42" RCP, Class III
LF
1,284.00
$200.00
$256,800.00
48" RCP, Class III
LF
1,220.00
$235.00
$286,700.00
60" RCP, Class III
LF
230.00
$310.00
$71,300.00
66" RCP, Class III
LF
500.00
$390.00
$195,000.00
4' Storm Junction Box
EA
33.00
$5,500.00
$181,500.00�
5' Storm Junction Box
EA
11.00
$11,500.00
$126,500.00�
6'Storm Junction Box
EA
4.00
$19,500.00
$78,000.00�
10'Curb Inlet
EA
36.00
$4,000.00
$144,000.00
15' Curb Inlet
EA
2.00
$5,000.00
$10,000.00
12" RCP, Class III
LF
3,355.00
$55.00
$184,525.00
5' Curb Inlet
EA
21.00
$3,000.00
$63,000.00
12" Rock Riprap
SY
155.00
$125.00
$19,375.00
12" 4:1 Sloped End Headwall
EA
1.00
$2,500.00
$2,500.00
42" 4:1 Sloped End Headwall
EA
1.00
$8,500.00
$8,500.00
66" 4:1 Sloped End Wingwall
EA
1.00
$12,500.00
$12,500.00
Trench Safety (Change Order 1)
LF
(168.00)
$2.00
($336.00)1
j Post -CCTV Inspection (Change Order 1)
LF
(168.00)
$2.00
($336.00)1
1 12" RCP CL III (Change Order 1)
LF
(145.00)
$55.00
($7,975.00)1
115" HP (Change Order 1)
LF
10.00
$60.00
$600.00
115" RCP CL III (Change Order 1)
LF
28.00
$60.00
$1,680.00
118" HP (Change Order 1)
LF
10.00
$65.00
$650.00
118" RCP CL III (Change Order 1)
LF
(52.00)
$65.00
($3,380.00)1
121" HP (Change Order 1)
LF
10.00
$75.00
$750.00
121" RCP CL III (Change Order 1)
LF
1,111.00
$75.00
$83,325.00
124" HP (Change Order 1)
LF
10.00
$85.00
$850.00
124" RCP CL III (Change Order 1)
LF
(1,224.00)
$85.00
($104,040.00)1
127" RCP CL III (Change Order 1)
LF
678.00
$105.00
$71,190.00
130" HP (Change Order 1)
LF
18.00
$115.00
$2,070.00
130" RCP CL III (Change Order 1)
LF
(1,043.00)
$115.00
($119,945.00)1
133" RCP CL III (Change Order 1)
LF
486.00
$130.00
$63,180.00
136" RCP CL III (Change Order 1)
LF
467.00
$160.00
$74,720.00
142" HP (Change Order 1)
LF
592.00
$200.00
$118,400.00
142" RCP CL III (Change Order 1)
LF
(666.00)
$200.00
($133,200.00)1
148" HP (Change Order 1)
LF
692.00
$235.00
$162,620.00 1
148" RCP CL III (Change Order 1)
LF
(1,205.00)
$235.00
($283,175.00)1
154" HP (Upsize to 60") (Change Order 1)
LF
680.00
$310.00
$210,800.00
160" HP (Change Order 1)
LF
105.00
$310.00
$32,550.00
160" RCP CL III (Change Order 1)
LF
(230.00)
$310.00
($71,300.00)1
166" RCP CL III (Change Order 1)
LF
(500.00)
$390.00
($195,000.00)1
14'SD Junction Box (Change Order 1)
LF
(1.00)
$5,500.00
($5,500.00)1
15' SD Junction Box (Change Order 1)
LF
(4.00)
$11,500.00
($46,000.00)1
16' SD Junction Box (Change Order 1)
LF
(1.00)
$19,500.00
($19,500.00)1
15'Curb Inlet (Change Order 1)
EA
(2.00)
$3,000.00
($6,000.00)1
110' Curb Inlet (Change Order 1)
EA
2.00
$4,000.00
$8,000.00 1
115' Curb Inlet (Change Order 1)
EA
(2.00)
$5,000.00
($30,000.00)1
1 12" Rip Rap (Change Order 1)
SY
151.00
$125.00
$18,875.00
112 4:1 Sloped Headwall (Change Order 1)
EA
-
$2,500.00
$0.00
127 4:1 Sloped Headwall (Change Order 1)
EA
1.00
$4,500.00
$4500.00
136 4:1 Sloped Headwall (Change Order 1)
EA
1.00
$5,500.00
$5,500.00
142 4:1 Sloped Headwall (Change Order 1)
EA
-
$8,500.00
$0.00
1544:1 Sloped Headwall (Change Order 1)
EA
1.00
$10,500.00
$10,500.00
166 4:1 Sloped Headwall (Change Order 1)
EA
(1.00)
$12,500.00
($12,500.00)1
4Subtotal - Storm Drainage Improvements
$2,477,133.00
1{Public Landscaping, Trails and Parks
I Item Description
Unit
Quantity
Unit Price
Total Item Cost
Private Landscaping Allowance
LS
1
$2,500,000.00
$2,500,000.00
4Subtotal - Public Landscaping, Trails and Parks
$2,500,000.00
Other Soft and Miscellaneous Costs
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Engineering & Surveying
LS
1
$2,297,850.00
$2,297,850.00
lConstruction Materials Testing
LS
1
$150,000.00
$150,000.00�
Erosion Control & SWPPP
LS
1
$300,000.00
$100,000.00
City of Fort Worth Fees
LS
1
$463,965.43
$463,965.43
lConstruction Management Fee
%
554
$28,922,774.21
$1,446,138.71
Contingency
%
10%
$28,922,774.21
$2,892,277.42
4Subtotal - Other Soft and Miscellaneous Costs
$7,350,231.57
RESIDENTIAL IMPROVEMENTS
Excavation Improvements
$12,995,760
Roadway Improvements
$5,457,667
Water Improvements
$1,981,702
Sewer Improvements
$3,510,513
Storm Drainage Improvements
$2,477,133
Public Landscaping, Trails and Parks
$2,500,000
Other Soft and Miscellaneous Costs
$7,350,232
Subtotal - RESIDENTIAL IMPROVEMENTS
$36,273,006
TOTAL- IMPROVEMENT AREA#4
Excavation Improvements
$12,995,760
Roadway Improvements
$5,457,667
Water Improvements
$1,981,702
Sewer Improvements
$3,510,513
Storm Drainage Improvements
$2,477,133
Public Landscaping, Trails and Parks
$2,500,000
Other Soft and Miscellaneous Costs
$7,350,232
IMPROVEMENTTOTAL -
11
S:\NTX-LAND\0002\NT840\700 COMMUNICATIONS\720 Memo\Maverick Phase 1 Letter 26FEB19.docx
February 26, 2026
Re:
Maverick Phase 1
Fort Worth, Texas
Maverick is a proposed single-family development anticipated to include approximately 500 residential
lots in Fort Worth, Texas. Phase 1 is comprised of 136 residential lots, and is currently under
construction. The proposed authorized infrastructure improvements associated with Phase 1 of the
development are shown in the attached exhibits. A quantity takeoff and associated construction cost
summary has been prepared based on executed contractor bids, and construction costs associated
with authorized improvements have been quantified. Authorized Improvements are categorized as any
in diameter) serving Maverick Phase 1 and commercial, improvements associated with Bear Creek
Parkway (a City of Fort Worth MTP arterial roadway), a new signalized intersection at Bear Creek
Parkway and Highway 377, a TxDOT driveway, deceleration lane and related improvements, and
improvements associated with Kenwood Longvue (an off site water project required to provide
adequate water capacity to serve Maverick Phase 1). All Authorized Improvements are necessary in
order to provide utilities and access to Maverick Phase 1 residential lots.
Improvement Area #5 Improvements
Storm Drainage Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Post -CCTV Inspection of Storm Drain
LF
574.00
$4.00
$2,296.00
Trench Safety
LF
574.00
$2.00
$1,148.00
21" RCP, Class III
LF
226.00
$85.00
$19,210.00
24" RCP, Class III
LF
348.00
$95.00
$33,060.00
10' Curb Inlet
EA
5.00
$4,600.00
$23,000.00
15' Curb Inlet
EA
7.00
$5,600.00
$39,200.00
Convert 4'X4' Drop Inlet into 4' Square Manhole
EA
2.00
$6,500.00
$13,000.00
Remove 4'X4' Drop Inlet
EA
3.00
$2,500.00
$7,500.00
Inlet Protection
EA
12.00
$250.00
$3,000.00
Post -CCTV Inspection of Storm Drain
LF
4,274.00
$4.00
$17,096.00
Trench Safety
LF
4,274.00
$2.00
$8,548.00
21" RCP, Class III
LF
509.00
$75.00
$38,175.00
24" RCP, Class III
LF
1,151.00
$85.00
$97,835.00
27" RCP, Class III
LF
287.00
$105.00
$30,135.00
30" RCP, Class III
LF
333.00
$115.00
$38,295.00
36" RCP, Class III
LF
993.00
$160.00
$158,880.00
42" RCP, Class III
LF
299.00
$200.00
$59,800.00
48" RCP, Class III
LF
15.00
$235.00
$3,525.00
54" RCP, Class III
LF
349.00
$285.00
$99,465.00
4' Storm Junction Box
EA
6.00
$7,500.00
$45,000.00
5' Storm Junction Box
EA
5.00
$7,928.57
$39,642.85
4' Stacked Manhole
EA
2.00
$15,000.00
$30,000.00
6' Storm Junction Box
EA
2.00
$10,500.00
$21,000.00
10' Curb Inlet
EA
23.00
$4,000.00
$92,000.00
15' Curbinlet
EA
5.00
$5,000.00
$25,000.00
Dual 3x3 MBC
LF
338.00
$560.00
$189,280.00
12'-10" X 6' Junction Box
EA
1.00
$28,500.00
$28,500.00
12'-10" X 10'-6" Junction Box
EA
1.00
$50,500.00
$50,500.00
24" 4:1 Sloped End HW
EA
1.00
$3,500.00
$3,500.00
30" 4:1 Sloped End HW
EA
1.00
$4,500.00
$4,500.00
Dual 3'x3' 4:1 Sloped End HW
EA
1.00
$18,500.00
$18,500.00
36" 4:1 Sloped End HW
EA
1.00
$6,500.00
$6,500.00
42" 4:1 Sloped End HW
EA
1.00
$8,500.00
$8,500.00
12" Large Stone Type "A" Dry Rip Rap
SY
283.00
$165.00
$46,695.00
Subtotal - Storm Drainage Improvements
$1,309,285.85
MR-erToft and Miscellaneous Costs
Item Description Unit I Quantity Unit Price Total Item Cost
Drainage Easements LS 1.00 $55,605.31 $55,605.31
Subtotal - Storm Drainage Improvements $55,605.31
Water Imprdkments
Item Description
Unit
Quantity
Unit Price
Total Item Cost
12" Waterline Lowering
EA
1.00
$6,500.00
$6,500.00
Trench Safety
LF
2,130.00
$2.00
$4,260.00
Ductile Iron Water Fittings w/ Restraint
TON
3.77
$10,500.00
$39,585.00
12" Water Pipe
LF
1,315.00
$102.00
$134,130.00
12" DIP Water
LF
73.00
$112.00
$8,176.00
12" DIP Water, CLSM Backfill
LF
64.00
$142.00
$9,088.00
16"Water Pipe
LF
577.00
$122.00
$70,394.00
16" DIP Water
LF
41.00
$182.00
$7,462.00
16" DIP Water, CLSM Backfill
LF
60.00
$212.00
$12,720.00
Fire Hydrant
EA
2.00
$7,500.00
$15,000.00
12" Gate Valve
EA
6.00
$4,500.00
$27,000.00
16" Gate Valve w/ Vault
EA
3.00
$28,500.00
$85,500.00
2" Combination Air Valve Assembly for Water
EA
1.00
$14,500.00
$14,500.00
Connection to Existing 4"-12" Water Main
EA
1.00
$1,000.00
$1,000.00
1" Irrigation Service
EA
2.00
$1,500.00
$3,000.00
16" Waterline Lowering
EA
4.00
$7,500.00
$30,000.00
Subtotal - Water Improvements
$468,315.00
Sewer Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Post -CCTV Inspection
LF
1,961.00
$4.00
$7,844.00
Final MH-CCTV Inspection
EA
12.00
$400.00
$4,800.00
Manhole Vacuum Testing
EA
12.00
$200.00
$2,400.00
Trench Safety
LF
1,961.00
$2.00
$3,922.00
Concrete Collar for Manhole
EA
5.00
$1,500.00
$7,500.00
Trench Water Stops
EA
7.00
$350.00
$2,450.00
30" Casing By Open Cut
LF
20.00
$380.00
$7,600.00
16" Sewer Carrier Pipe
LF
20.00
$258.00
$5,160.00
15" Sewer Pipe
LF
1,771.00
$178.00
$315,238.00
15" Sewer Pipe, CSS Backfill
LF
150.00
$208.00
$31,200.00
16" DIP Sewer
LF
20.00
$258.00
$5,160.00
Epoxy Manhole Liner
VF
142.00
$485.00
$68,870.00
4' Manhole
EA
8.00
$4,800.00
$38,400.00
4' Extra Depth Manhole
VF
70.00
$225.00
$15,750.00
4' Manhole W/ Hydraulic Slide
EA
4.00
$6,800.00
$27,200.00
Connect to Existing 15" Sewer Stub
EA
1.00
$5,500.00
$5,500.00
End and Plug 15" PVC
EA
1.00
$2,000.00
$2,000.00
Subtotal - Sewer Improvements
$550,994.00
Other Soft and Miscellaneous Costs
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Preliminary Plat Application Fee
LS
1.00
$1,767.21
$1,767.21
SWFMA-25-0031 Application Fee
LS
1.00
$714.37
$714.37
Final Plat Application Fee
LS
1.00
$3,375.83
$3,375.83
IPRC Review Fee
LS
1.00
$15,895.80
$15,895.80
IPRC Inspection Fees
LS
1.00
$58,882.74
$58,882.74
Engineering/Surveying
LS
1.00
$300,469.32
$300,469.32
Final Geotechinical Report & Testing
LS
1.00
$26,894.27
$26,894.27
Subtotal - Other Soft and Miscellaneous Costs
$407,999.54
Roadway Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Clearing & Grubbing
ACRE
2.40
$725.00
$1,740.00
Unclassified Excavation
CY
12,649.00
$3.20
$40,476.80
Erosion Control
LS
1.00
$3,196.95
$3,196.95
Retaining Walls
LS
1.00
$321,261.00
$321,261.00
Hydrated Lime (32 Ibs/sy for Residential & 42 Ibs/sy for Orchard Way)
TON
156.70
$275.00
$43,092.50
6" Lime Treatment
SY
177.00
$4.00
$708.00
8" Lime Treatment
SY
7,326.00
$5.00
$36,630.00
6" Conc Pvmt
SY
176.00
$62.00
$10,912.00
4" Conc Sidewalk
SF
17,490.00
$4.25
$74,332.50
Barrier Free Ramp, Type P-1
EA
8.00
$2,400.00
$19,200.00
Topsoil
CY
322.00
$28.00
$9,016.00
Block Sod Placement
SY
1,934.00
$8.00
$15,472.00
7.5" Conc Pvmt
SY
6,950.00
$78.00
$542,100.00
Construct Type III Barricade
EA
1.00
$800.00
$800.00
Construct Std. Pvmt Header
LF
37.00
$25.00
$925.00
Remove Barricade and Connect to Existing Pavement Header
EA
1.00
$1,000.00
$1,000.00
2" CONDT PVC SCH 80 (T)
LF
1,714.00
$15.00
$25,710.00
Instal l Type 33B Arm
EA
9.00
$600.00
$5,400.00
Furnish/Install 120-240 Volt Single Phase Metered Pedestal
EA
1.00
$10,500.00
$10,500.00
Rdwy Ilium Assembly Ty 8,11,D-25, and D-30
EA
9.00
$2,500.00
$22,500.00
R2
EA
9.00
$750.00
$6,750.00
Rdwy Ilium Foundation Ty 1,2, and 4
EA
9.00
$1,200.00
$10,800.00
NO 2Insulated Elec Condr
LF
1,714.00
$8.00
$13,712.00
Type B Ground Box W/ Apron
EA
5.00
$750.00
$3,750.00
Subtotal - Roadway Improvements
$1,219,984.75
Storm Drainage Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Post -CCTV Inspection of Storm Drain
LF
1,108.00
$4.00
$4,432.00
Trench Safety
LF
1,108.00
$2.00
$2,216.00
21" RCP, Class III
LF
215.00
$75.00
$16,125.00
24" RCP, Class III
LF
174.00
$85.00
$14,790.00
30" RCP, Class III
LF
67.00
$115.00
$7,705.00
36" RCP, Class III
LF
652.00
$160.00
$104,320.00
4' Storm Junction Box
EA
1.00
$5,500.00
$5,500.00
5' Storm Junction Box
EA
2.00
$7,928.57
$15,857.14
10' Curb Inlet
EA
6.00
$4,000.00
$24,000.00
4' X 4' Drop Inlet
EA
3.00
$4,500.00
$13,500.00
Inlet Protection
EA
9.00
$250.00
$2,250.00
Subtotal - Storm Drainage Improvements
$220,695.14
Public Landscaping, Trails and Parks
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Sod
SF
81,194.40
$0.70
$56,836.08
Fine Grade
SF
81,194.40
$0.05
$4,059.72
Trees
EA
64.00
$700.00
$44,800.00
Permits and Inspetion, Design
EA
1.00
$7,000.00
$7,000.00
Irrigation
LS
1.00
$35,000.00
$35,000.00
Subtotal - Public Landscaping, Trails and Parks
$147,695.80
LIFT STATION PHASE 2 UPGRADES
Sewer Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Piping and Valve Submittals
LS
1.00
$10,000.00
$10,000.00
Mobilization
LS
1.00
$10,000.00
$10,000.00
Bonds
LS
1.00
$15,000.00
$15,000.00
Valve Procurement
LS
1.00
$10,000.00
$10,000.00
Discharge Piping Installation
LS
1.00
$18,891.00
$18,891.00
Lift Station and Vault Piping and Valve Installation
LS
1.00
$20,000.00
$20,000.00
Pump Submittals
LS
1.00
$10,000.00
$10,000.00
Pump Procurement
LS
1.00
$41,107.00
$41,107.00
Air Release Valve and Piping Installation
LS
1.00
$10,000.00
$10,000.00
Swing Check Valve Installation
LS
1.00
$15,000.00
$15,000.00
Riser Discharge Piping Installation
LS
1.00
$15,000.00
$15,000.00
Gate Valve Installation
LS
1.00
$15,000.00
$15,000.00
Pump 2 Propeller Installation
LS
1.00
$16,532.00
$16,532.00
Pump 3 Propeller Installation
LS
1.00
$16,532.00
$16,532.00
Completion of All Electrical Submittals
LS
1.00
$20,000.00
$20,000.00
Electrical and Controls Installation
LS
1.00
$79,368.00
$79,368.00
Bypass Pump Submittal
LS
1.00
$10,000.00
$10,000.00
Bypass Pump Mobilization
LS
1.00
$15,000.00
$15,000.00
Bypass Installation
LS
1.00
$25,000.00
$25,000.00
Bypass Pump Schedule Days
Days
12.00
$4,080.83
$48,969.96
Bypass Pump Monitoring
Days
12.00
$2,488.34
$29,860.08
Subtotal - Sewer Improvements
$451,260.04
Other Soft Costs and Miscellaneous Items
Item Description
Unit
Quantity
Unit Price
Total Item Cost
IPRC Application Fee
LS
1.00
$1,000.00
$1,000.00
CFA Appliction Fee
LS
1.00
$2,508.75
$2,508.75
IPRC Inspection Fees
LS
1.00
$75,937.50
$75,937.50
Engineeering/Surveying
LS
1.00
$65,000.00
$65,000.00
Subtotal - Sewer Improvements
$144,446.25
RESIDENTIAL IMPROVEMENTS
Storm Drainage Improvements
Other Soft and Miscellaneous Costs
Subtotal - RESIDENTIAL IMPROVEMENTS
EITHORIZED IMPROVEMENTS
Water Improvements
Sewer Improvements
Other Soft and Miscellaneous Costs
Subtotal - AUTHORIZED IMPROVEMENTS
Roadway Improvements
Storm Drainage Improvements
Public Landscaping, Trails and Parks
Subtotal - ORCHARD WAY
Sewer Improvements
Other Soft and Miscellaneous Costs
Subtotal - LIFT STATION PHASE 2 UPGRADES
$1,309,286
$55,605
$1,364,891
$550,994
$408,000
$1,427,309
$1,219,985
$210,695
$147,696
$1,578,376
$451,260
$144,446
$595,706
TOTAL - IMPROVEMENT AREA #5
Roadway Improvements
$1,219,985
Water Improvements
$468,315
Sewer Improvements
$1,002,254
Storm Drainage Improvements
$1,519,981
Public Landscaping, Trails and Parks
$147,696
Other Soft and Miscellaneous Costs
$608,051
Grading Improvements
1
Item Description
Unit
Quantity
Unit Price
Total Item Cost
8A
CLEARING AND GRUBBING
ACRE
20.90
$750.00
$15,675.00
UNCLASSIFIED EXCAVATION
CY
25,507.05
$3.95
$100,752.95
ROUGH LOT GRADING
LOT
95.00
$250.00
$23,750.00
FINAL LOTGRADING
LOT
95.00
$250.00
$23,750.00
MOISTURE CONDITIONING (40'X75' PAD) - 4 FEET DEEP
LOT
33.00
$1,200.00
$39,600.00
MOISTURE CONDITIONING (40'X75' PAD) - 8 FEET DEEP
LOT
7.00
$3,780.00
$26,460.00
MOISTURE CONDITIONING POLY (6 TO 8 MILTHICKNESS)
LOT
40.00
$300.00
$12,000.00
8B
CLEARING AND GRUBBING
ACRE
43.90
$725.00
$31,827.50
UNCLASSIFIED EXCAVATION IN 8B
CY
48,532.07
$3.20
$155,302.62
UNCLASSIFIED EXCAVATION CUT FROM 8A
CY
252,081.44
$3.95
$995,721.69
FINAL LOT GRADING
LOT
182.00
$250.00
$45,500.00
MOISTURE CONDITIONING (30'x75' PAD) - 4 FEET DEEP
LOT
27.00
$950.00
$25,650.00
MOISTURE CONDITIONING (40'x75' PAD) - 6 FEET DEEP
LOT
38.00
$1,200.00
$45,600.00
MOISTURE CONDITIONING (50'x75' PAD) - 4 FEET DEEP
LOT
25.00
$1,500.00
$37,500.00
MOISTURE CONDITIONING (60'x80' PAD) - 4 FEET DEEP
LOT
10.00
$1,850.00
$18,500.00
MOISTURE CONDITIONING (60'X80' PAD) - 6 FEET DEEP
LOT
8.00
$3,000.00
$24,000.00
MOISTURE CONDITIONING (60'X80' PAD) - 8 FEET DEEP
LOT
9.00
$5,600.00
$50,400.00
MOISTURE CONDITIONING POLY (6 TO 8 MILTHICKNESS)
LOT
126.00
$300.00
$37,800.00
MOISTURE CONDITIONING (30'x75' PAD) - 4 FEET DEEP
LOT
(27.00)
$950.00
($25,650.00)
MOISTURE CONDITIONING (40'x75' PAD) - 6 FEET DEEP
LOT
(38.00)
$1,200.00
($45,600.00)
MOISTURE CONDITIONING (50'x75' PAD) - 4 FEET DEEP
LOT
(19.00)
$1,500.00
($28,500.00)
MOISTURE CONDITIONING (60'x80' PAD) - 4 FEET DEEP
LOT
(10.00)
$1,850.00
($18,500.00)
MOISTURE CONDITIONING (50'x75' PAD) - 6 FEET DEEP
LOT
(9.00)
$2,800.00
($25,200.00)
MOISTURE CONDITIONING (60'X80' PAD) - 6 FEET DEEP
LOT
(4.00)
$3,000.00
($12,000.00)
MOISTURE CONDITIONING (50'x75' PAD) - 8 FEET DEEP
LOT
6.00
$4,500.00
$27,000.00
MOISTURE CONDITIONING (60'X80' PAD) - 8 FEET DEEP
LOT
3.00
$5,600.00
$16,800.00
MOISTURE CONDITIONING POLY (6 TO 8 MILTHICKNESS)
LOT
(104.00)
$300.00
($31,200.00)
MOISTURE CONDITIONING (50'x75' PAD) - 4 FEET DEEP (PREV CUT)
LOT
9.00
$1,500.00
$13,500.00
MOISTURE CONDITIONING (60'x80' PAD) - 4 FEET DEEP (PREV CUT)
LOT
6.00
$1,850.00
$11,100.00
MOISTURE CONDITIONING POLY (6 TO 8 MILTHICKNESS)
LOT
65.00
$250.00
$16,250.00
MOISTURE CONDITIONING POLY (6 TO 8 MIL THICKNESS) (PREV CUT)
LOT
5.00
$300.00
$1,500.00
EROSION CONTROL
EA
1.00
$82,424.86
$82,424.86
Subtotal - Grading Improvements
$1,762,414.52
Roadway Improvements '
Item Description
Unit
Quantity
Unit Price
Total Item Cost
SA
3211.0400 Hydrated Lime (321bs/sy for Residential)
TON
157.00
$285.00
$44,745.00
3211.05016" Lime Treatment
SY
9,810.00
$4.00
$39,240.00
3213.01016" Conc Pvmt
SY
9,182.00
$62.00
$569,284.00
3213.03014" Conc Sidewalk (Developer)
SF
950.00
$4.50
$4,275.00
3213.0506 Barrier Free Ramp, Type P-1
EA
2.00
$2,400.00
$4,800.00
3291.0100 Topsoil
CY
12.00
$28.00
$336.00
3292.0100 Block Sod Placement
SY
71.00
$8.00
$568.00
9999.0006 Remove Barricade and Connect to Existing Pavement Header
EA
5.00
$1,000.00
$5,000.00
9999.0007 Stop Signs
EA
6.00
$850.00
$5,100.00
9999.0008 Street Name Blade Pair
EA
6.00
$250.00
$1,500.00
2605.3015 2" CONDT PVC SCH 80 (T)
LF
670.00
$15.00
$10,050.00
3441.1410 NO 10 Insulated Elec Condr
LF
670.00
$6.00
$4,020.00
3441.1633 Install Type 33B Arm
EA
14.00
$600.00
$8,400.00
3441.3002 Rdwy Illum Assembly TY 8,11,D-25, and D-30
LF
14.00
$2,500.00
$35,000.00
3441.3201 LED Lighting Fixture (50W)
EA
14.00
$750.00
$10,500.00
3441.3301 Rdwy Illum Foundation TY 1,2, and 4
EA
14.00
$1,200.00
$16,800.00
8B
3211.0400 Hydrated Lime(32 Ibs/sy for Residential)
TON
388.30
$285.00
$110,665.50
3211.0111 4" Flexible Base, Type A, GR-1
SY
795.00
$16.00
$12,720.00
3211.0501 6" Lime Treatment
SY
24,270.00
$4.00
$97,080.00
3213.0101 6" Conc Pvmt
SY
23,550.00
$62.00
$1,460,100.00
3213.0301 4" Conc Sidewalk
SF
5,604.00
$4.25
$23,817.00
3213.0506 Barrier Free Ramp, Type P-1
EA
14.00
$2,400.00
$33,600.00
3291.0100 Topsoil
CY
98.00
$28.00
$2,744.00
3292.0100 Block Sod Placement
SY
590.00
$8.00
$4,720.00
9999.0020 Construct Type III Barricade
EA
2.00
$800.00
$1,600.00
9999.0021 Construct Std. Pvmt Header
LF
58.00
$25.00
$1,450.00
9999.0022 Remove Barricade and Connect to Existing Pavement Header
EA
3.00
$1,000.00
$3,000.00
9999.0023 Stop Signs
EA
9.00
$850.00
$7,650.00
9999.0024 Street Name Blade Pair
EA
10.00
$250.00
$2,500.00
9999.0025 Street Sign Pole
EA
10.00
$300.00
$3,000.00
Maintenance Bond
LS
1.00
$0.00
$0.00
2605.3015 2" CONDT PVC SCH 80 (T)
LF
1,879.00
$15.00
$28,185.00
3441.1633 Install Type 33B Arm
EA
39.00
$600.00
$23,400.00
3441.3002 Rdwy Illum Assembly TY 8,11,D-25, and D-30
EA
39.00
$2,500.00
$97,500.00
R2
EA
35.00
$750.00
$26,250.00
3441.3301 Rdwy Illum Foundation TY 1,2, and 4
EA
39.00
$1,200.00
$46,800.00
R4
LF
4.00
$950.00
$3,800.00
3441.1410 NO 10 Insulated Elec Condr
LF
1,879.00
$6.00
$11,274.00
Subtotal - Roadway Improvements
$2,763,273.50
Retaining Wall Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
8A Retaining Walls
LS
ILS
1.00
$708,179.00
$708,179.00
8B Retaining Walls
1.00
$1,065,858.00
$1,065,858.00
Subtotal - Retaining Wall Improvements
$1,065,858.00
Water Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
SA
8" Waterline Lowering
EA
4.00
$5,500.00
$22,000.00
Trench Safety
LF
2,802.00
$2.00
$5,604.00
Ductile Iron Water Fittings w/ Restraint
TON
0.92
$9,500.00
$8,721.00
8" Water Pipe
LF
2,728.00
$56.00
$152,768.00
8" DIP Water, CLSM Backfill
LF
74.00
$86.00
$6,364.00
Fire Hydrant
EA
4.00
$7,500.00
$30,000.00
2" Combination Air Valve Assembly for Water
EA
3.00
$12,500.00
$37,500.00
1" Water Service
EA
95.00
$1,200.00
$114,000.00
8" Gate Valve
EA
6.00
$2,500.00
$15,000.00
Connection to Existing 4"-12" Water Main
EA
5.00
$1,000.00
$5,000.00
1" Irrigation Service
EA
1.00
$1,500.00
$1,500.00
8B
20" Casing By Open Cut
LF
78.00
$320.00
$24,960.00
8" Waterline Lowering
EA
18.00
$5,500.00
$99,000.00
Trench Safety
LF
5,575.00
$2.00
$11,150.00
8" Water Carrier Pipe
LF
78.00
$66.00
$5,148.00
Ductile Iron Water Fittings w/ Restraint
TON
1.97
$10,500.00
$20,685.00
8" Water Pipe
LF
5,184.00
$56.00
$290,304.00
8" DIP Water, CLSM Backfill
LF
313.00
$86.00
$26,918.00
Fire Hydrant
EA
15.00
$7,500.00
$112,500.00
1" Water Service
EA
165.00
$1,200.00
$198,000.00
8" Gate Valve
EA
21.00
$2,500.00
$52,500.00
Connection to Existing 4"-12" Water Main
EA
4.00
$1,000.00
$4,000.00
1" Irrigation Service
EA
2.00
$1,500.00
$3,000.00
Tap 1" Water Service into Existing 8" Waterline
EA
1.00
$2,500.00
$2,500.00
Subtotal - Water Improvements
$1,249,122.00
Sewer Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
8A
Post -CCTV Inspection
LF
2,824.00
$4.00
$11,296.00
Final MH-CCTV Inspection
EA
17.00
$400.00
$6,800.00
Trench Safety
LF
2,824.00
$2.00
$5,648.00
Trench Water Stops
EA
8.00
$350.00
$2,800.00
4" Sewer Service
EA
95.00
$900.00
$85,500.00
8" Sewer Pipe - SDR 26
LF
2,724.00
$72.00
$196,128.00
8" Sewer Pipe, CSS Backfill
LF
100.00
$92.00
$9,200.00
Epoxy Manhole Liner
VF
69.00
$485.00
$33,465.00
4' Manhole
EA
17.00
$5,000.00
$85,000.00
4' Extra Depth Manhole
VF
23.00
$225.00
$5,175.00
Connect to Existing 8" Sewer Stub
EA
5.00
$1,500.00
$7,500.00
8B
Post -CCTV Inspection
LF
5,791.00
$4.00
$23,164.00
Final MH-CCTV Inspection
EA
36.00
$400.00
$14,400.00
Manhole Vacuum Testing
EA
36.00
$200.00
$7,200.00
Trench Safety
LF
5,791.00
$2.00
$11,582.00
Trench Water Stops
EA
26.00
$350.00
$9,100.00
20" Casing By Open Cut
LF
65.00
$380.00
$24,700.00
8" Sewer Carrier Pipe
LF
65.00
$104.00
$6,760.00
4" Sewer Service
EA
180.00
$900.00
$162,000.00
8" Sewer Pipe
LF
5,369.00
$74.00
$397,306.00
8" Sewer Pipe, CSS Backfill
LF
310.00
$94.00
$29,140.00
8" DIP Sewer Pipe
LF
47.00
$104.00
$4,888.00
Epoxy Manhole Liner
VF
227.00
$485.00
$110,095.00
4' Manhole
EA
34.00
$5,000.00
$170,000.00
4' Drop Manhole
EA
2.00
$6,000.00
$12,000.00
4' Extra Depth Manhole
VF
124.00
$225.00
$27,900.00
Connect to Existing 8" Sewer Stub
EA
2.00
$4,500.00
$9,000.00
End and Plug 8" PVC
EA
2.00
$500.00
$1,000.00
Subtotal - Sewer Improvements
$1,468,747.00
Landscape and Open Space Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Sod
SF
65,000.00
$0.70
$45,500.00
Fine Grade
SF
65,000.00
$0.05
$3,250.00
Trees
EA
42.00
$700.00
$29,400.00
Permits and Inspetion, Design
EA
1.00
$7,000.00
$7,000.00
Irrigation
LS
1.00
$35,000.00
$35,000.00
Subtotal -Landscape and Open Space Improvements
$120,150.00
Other Soft Miscellaneous Costs
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Preliminary Plat Application Fee
LS
1.00
$3,702.79
$3,702.79
Final Plat Application Fee
LS
1.00
$6,979.76
$6,979.76
IPRC Review Fee
LS
1.00
$32,865.64
$32,865.64
IPRC Inspection Fees
LS
1.00
$121,744.01
$121,744.01
Engineering/Surveying
LS
1.00
$621,240.51
$621,240.51
Final Geotechinical Report & Testing
LS
1.00
$55,605.73
$55,605.73
Subtotal - Other Soft and Miscellaneous Costs
$842,138.44
iUMMARYTOTALS
RESIDENTIAL IMPROVEMENTS
Grading Improvements
$1,762,415
Roadway Improvements
$2,763,274
Retaining Wall Improvements
$1,065,858
Water Improvements
$1,249,122
Sewer Improvements
$1,468,747
Landscape and Open Space Improvements
$120,150
Other Soft and Miscellaneous Costs
$842,138
Subtotal - RESIDENTIAL IMPROVEMENTS
$9,271,703
TOTAL - IMPROVEMENT AREA #5
Grading Improvements
$1,762,415
Roadway Improvements
$2,763,274
Retaining Wall Improvements
$1,065,858
Water Improvements
$1,249,122
Sewer Improvements
$1,468,747
Landscape and Open Space Improvements
$120,150
Other Soft and Miscellaneous Costs
$842,138
S:\NTX-LAND\0002\NT840\700 COMMUNICATIONS\720 Memo\Ventana Phase 8 Letter 26FEB19.docx
February 26, 2026
Re:
Ventana Phase 8
Fort Worth, Texas
Ventana Phase 8 is a proposed single-family development comprised of approximately 277 residential
lots in Fort Worth, Texas. Phase 8A is comprised of 95 residential lots, and is currently under
construction. Phase 8B is comprised of 182 residential lots, and is also currently under construction.
The proposed authorized infrastructure improvements associated with Phase 8 of the development
are shown in the attached exhibits. A quantity takeoff and associated construction cost summary has
been prepared based on executed contractor bids, and construction costs associated with authorized
improvements have been quantified. Authorized Improvements are categorized as any public utility
in diameter) serving
-of-way Collector
Road), and improvements associated with the Ventana Lift Station Phase 2 Upgrades (a lift station
upgrade project needed to provide adequate sewer capacity to serve Ventana Phase 8). All Authorized
Improvements are necessary in order to provide utilities and access to Ventana Phase 8 residential
lots.
APPENDIX C-1
IMPROVEMENT AREA #4 LEGAL DESCRIPTION
EXHIBIT C-1
421.082 ACRES
BEING A 421.082-ACRE TRACT OF LAND SITUATED IN THE D. T. FINLEY SURVEY, ABSTRACT NO. 1901,
THEODORE FINLEY SURVEY, ABSTRACT NO. 1878, T. F. RODGERS SURVEY, ABSTRACT NO. 1357, ELIZABETH
LANGSTON SURVEY, ABSTRACT NO. 988, T & N.O. RR CO. SURVEY, ABSTRACT NO. 1565, AND BEING A
PORTION OF THAT TRACT OF LAND DESCRIBED TO FW CLUB LP BY DEED RECORDED IN COUNTY CLERK
FILE NO. D224085431 AND A PORTION OF THAT TRACT OF LAND DESCRIBED TO PMB ROLLING V SOUTH
LAND LP BY DEED RECORDED IN COUNTY CLERK FILE NO. D223038385 OF THE OFFICIAL PUBLIC RECORDS
OF TARRANT COUNTY, TEXAS, AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS
FOLLOWS:
BEGINNING AT A 5/8-INCH CAPPED IRON ROD STAMPED "LJA SURVEYING" SET (HEREINAFTER REFERRED
TO AS "SET IRON ROD") ON THE NORTHWESTERN RIGHT-OF-WAY LINE OF BENBROOK BOULEVARD / US
HIGHWAY 377 SOUTH (A VARIABLE WIDTH RIGHT-OF-WAY), FROM WHICH A 1-INCH IRON ROD FOUND
FOR THE EASTERNMOST CORNER OF LOT 10, BLOCK 35 OF BELLA FLORA PHASE 10, AN ADDITION TO
TARRANT COUNTY, TEXAS AS SHOWN BY PLAT RECORDED IN COUNTY CLERK FILE NO. D221350274 OF
SAID OFFICIAL PUBLIC RECORDS BEARS SOUTH 47°57'57" WEST, A DISTANCE OF 719.57 FEET,
THENCE OVER AND ACROSS SAID PMB ROLLING V SOUTH LAND LP TRACT, THE FOLLOWING COURSES
AND DISTANCES:
NORTH 02°35'06" EAST, A DISTANCE OF 14.05 FEET TO A SET IRON ROD;
NORTH 42°47'44" WEST, A DISTANCE OF 44.89 FEET TO A SET IRON ROD FOR THE BEGINNING OF
A CURVE TO THE RIGHT HAVING A RADIUS OF 817.00 FEET, AND A CHORD THAT BEARS
NORTH 37°51'06" WEST, 140.82 FEET,
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 09°53'16", AN ARC -DISTANCE
OF 140.99 FEET TO A SET IRON ROD;
NORTH 32°54'28" WEST, A DISTANCE OF 100.32 FEET TO A SET IRON ROD FOR THE BEGINNING
OF A CURVE TO THE LEFT, HAVING A RADIUS OF 707.00 FEET, AND A CHORD THAT BEARS
NORTH 65°59'02" WEST, 771.70 FEET,
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 66°09'10", AN ARC -DISTANCE
OF 816.29 FEET TO A SET IRON ROD ON THE SOUTH LINE OF SAID FW CLUB LP TRACT,
THENCE SOUTH 47°59'24" WEST, WITH SAID SOUTH LINE, A DISTANCE OF 650.35 FEET TO A SET IRON
ROD;
THENCE OVER AND ACROSS SAID FW CLUB LP TRACT THE FOLLOWING COURSES AND DISTANCES:
NORTH 48°30'20" WEST, A DISTANCE OF 224.30 FEET TO A SET IRON ROD AT THE BEGINNING OF
A NON -TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF 173.00 FEET AND A CHORD THAT
BEARS SOUTH 70°56'47" WEST, 112.95 FEET,
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 38°06'26", AN ARC -DISTANCE
OF 115.06 FEET TO A SET IRON ROD;
WEST, A DISTANCE OF 365.34 FEET TO A SET IRON ROD;
NORTH 35°40'44" WEST, A DISTANCE OF 2,234.12 FEET TO A SET IRON ROD;
EXHIBIT C-1
421.082 ACRES
NORTH 81°00'15" WEST, A DISTANCE OF 1,573.98 FEET TO A SET IRON ROD;
NORTH 76°19'21" WEST, A DISTANCE OF 107.04 FEET TO A SET IRON ROD;
NORTH 49°27'05" WEST, A DISTANCE OF 40.36 FEET TO A SET IRON ROD FOR THE BEGINNING OF
A NON -TANGENT CURVE TO THE RIGHT, HAVING A RADIUS OF 618.00 FEET, AND A CHORD THAT
BEARS NORTH 43°57'09" EAST, 73.39 FEET,
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 06°48'29", AN ARC -DISTANCE
OF 73.43 FEET TO A SET IRON ROD FOR THE BEGINNING OF A REVERSE CURVE TO THE LEFT,
HAVING A RADIUS OF 792.00 FEET, AND A CHORD THAT BEARS NORTH 42°25'22" EAST, 136.23
FEET,
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 09°52'04", AN ARC -DISTANCE
OF 136.40 FEET TO A SET IRON ROD FOR THE BEGINNING OF A REVERSE CURVE TO THE RIGHT,
HAVING A RADIUS OF 672.90 FEET, AND A CHORD THAT BEARS NORTH 39°46'51" EAST, 16.36
FEET,
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 01°23'34", AN ARC -DISTANCE
OF 16.36 FEET TO A SET IRON ROD FOR THE BEGINNING OF A COMPOUND CURVE TO THE RIGHT,
HAVING A RADIUS OF 475.59 FEET, AND A CHORD THAT BEARS NORTH 44°08'41" EAST, 165.75
FEET,
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 20°04'16", AN ARC -DISTANCE
OF 166.60 FEET TO A SET IRON ROD;
SOUTH 15°22'58" EAST, A DISTANCE OF 135.83 FEET TO A SET IRON ROD;
NORTH 74°37'02" EAST, A DISTANCE OF 630.00 FEET TO A SET IRON ROD;
SOUTH 86°23'54" EAST, A DISTANCE OF 115.70 FEET TO A SET IRON ROD;
SOUTH 79°37'25" EAST, A DISTANCE OF 184.75 FEET TO A SET IRON ROD;
NORTH 50°49'59" EAST, A DISTANCE OF 184.81 FEET TO A SET IRON ROD;
NORTH 13°20'55" WEST, A DISTANCE OF 170.00 FEET TO A SET IRON ROD;
NORTH 63°31'55" EAST, A DISTANCE OF 541.02 FEET TO A SET IRON ROD;
NORTH 45°52'19" EAST, A DISTANCE OF 221.60 FEET TO A SET IRON ROD;
SOUTH 50°22'10" EAST, A DISTANCE OF 150.00 FEET TO A SET IRON ROD;
NORTH 42°43'19" EAST, A DISTANCE OF 425.62 FEET TO A SET IRON ROD;
NORTH 39°37'50" EAST, A DISTANCE OF 85.00 FEET TO A SET IRON ROD;
NORTH 34°23'51" EAST, A DISTANCE OF 274.70 FEET TO A SET IRON ROD;
NORTH 81°12'46" EAST, A DISTANCE OF 406.70 FEET TO A SET IRON ROD;
EXHIBIT C-1
421.082 ACRES
THENCE NORTH 00°32'23" WEST, PASSING A SET IRON ROD FOR REENTRANT CORNER ON THE
NORTHERLY LINE OF SAID FW CLUB LP TRACT AT 184.60 FEET AND CONTINUING WITH SAID NORTHERLY
LINE A TOTAL DISTANCE OF 907.40 FEET TO A SET IRON ROD;
THENCE CONTINUING WITH THE NORTHERLY LINE OF SAID FW CLUB LP TRACT THE FOLLOWING
COURSES AND DISTANCES:
NORTH 89°27'34" EAST, A DISTANCE OF 444.62 FEET TO A SET IRON ROD;
SOUTH 24°54'16" EAST, A DISTANCE OF 164.11 FEET TO A SET IRON ROD;
SOUTH 07°05'06" EAST, A DISTANCE OF 246.75 FEET TO A SET IRON ROD;
EAST, A DISTANCE OF 628.83 FEET TO A SET IRON ROD;
NORTH 60°24'29" EAST, A DISTANCE OF 780.16 FEET TO A SET IRON ROD;
NORTH 32°45'42" WEST, A DISTANCE OF 102.90 FEET TO A SET IRON ROD;
NORTH 14°56'25" EAST, A DISTANCE OF 122.85 FEET TO A SET IRON ROD;
NORTH 46°56'31" EAST, A DISTANCE OF 1,061.55 FEET TO A SET IRON ROD;
NORTH 89°38'01" EAST, A DISTANCE OF 1,065.53 FEET TO A SET IRON ROD FOR THE NORTHEAST
CORNER OF SAID FW CLUB LP TRACT,
THENCE WITH THE EASTERLY AND SOUTHERLY LINES OF SAID FW CLUB LP TRACTTHE FOLLOWING
COURSES AND DISTANCES:
SOUTH 00°22'06" EAST, A DISTANCE OF 187.48 FEET TO A SET IRON ROD;
NORTH 89°38'01" EAST, A DISTANCE OF 19.77 FEET TO A SET IRON ROD;
SOUTH 00°22'06" EAST, A DISTANCE OF 3,480.72 FEET TO A SET IRON ROD FOR THE EAST
COMMON CORNER OF SAME TRACT AND A TRACT OF LAND DESCRIBED TO PMB ROLLING V
SOUTH LAND LP BY DEED RECORDED IN COUNTY CLERK FILE NO. D223038386 OF SAID OFFICIAL
PUBLIC RECORDS;
SOUTH 89°57'02" WEST, A DISTANCE OF 1,016.95 FEET TO A SET IRON ROD;
SOUTH 47°12'16" WEST, A DISTANCE OF 1,105.20 FEET TO A SET IRON ROD FOR THE BEGINNING
OF A CURVE TO THE LEFT, HAVING A RADIUS OF 1,750.00 FEET, AND A CHORD THAT BEARS
SOUTH 34°23'46" WEST, 775.92 FEET,
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 25°37'01", AN ARC -DISTANCE
OF 782.43 FEET TO A SET IRON ROD FOR THE BEGINNING OF A NON -TANGENT CURVE TO THE
RIGHT, HAVING A RADIUS OF 817.00 FEET, AND A CHORD THAT BEARS SOUTH 55°00'01" EAST,
614.55 FEET,
THENCE OVER AND ACROSS SAID PMB ROLLING V SOUTH LAND LP TRACT AS DESCRIBED BY DEED
RECORDED IN COUNTY CLERK FILE NO. D223038385 THE FOLLOWING COURSES AND DISTANCES:
EXHIBIT C-1
421.082 ACRES
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 44°11'06", AN ARC -DISTANCE
OF 630.05 FEET TO A SET IRON ROD;
SOUTH 32°54'28" EAST, A DISTANCE OF 100.32 FEET TO A SET IRON ROD; TO THE BEGINNING OF
A CURVE TO THE LEFT, HAVING A RADIUS OF 707.00 FEET, AND A CHORD THAT BEARS SOUTH
37°51'06" EAST, 121.86 FEET,
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 09°53'16", AN ARC -DISTANCE
OF 122.01 FEET TO A SET IRON ROD;
SOUTH 42°47'44" EAST, A DISTANCE OF 46.35 FEET TO A SET IRON ROD;
SOUTH 87°24'54" EAST, A DISTANCE OF 14.24 FEET TO A SET IRON ROD ON THE NORTHWESTERN
RIGHT-OF-WAY LINE OF SAID BENBROOK BOULEVARD;
THENCE SOUTH 47°57'57" WEST, WITH SAID NORTHWESTERN RIGHT-OF-WAY LINE, A DISTANCE OF
130.01 FEET TO THE POINT OF BEGINNING AND CONTAINING A CALCULATED AREA OF 421.082 ACRES
(18,342,393 SQ. FEET) OF LAND.
PRELIMINARY, THIS DOCUMENT SHALL NOT BE RECORDED FOR ANY PURPOSE AND SHALL NOT BE USED,
VIEWED OR RELIED UPON AS A FINAL SURVEY DOCUMENT.
Aaron C. Brown, R.P.L.S. September 16, 2025
Registered Professional Land Surveyor
Texas Registration No. 6702
LJA Surveying, Inc.
3017 West 7' Street, Suite 300
Fort Worth, Texas 76107
817-288-1900
TBPELS Firm No. 10194382
APPENDIX C-2
IMPROVEMENT AREA #5 LEGAL DESCRIPTION
EXHIBIT C-2
72.059-ACRE TRACT
BEING A 72.059-ACRE TRACT OF LAND SITUATED IN THE T. F. ROGERS SURVEY, ABSTRACT NO. 1357 AND
THE WILLIAM ATKINS SURVEY, ABSTRACT NO. 1961, CITY OF FORT WORTH, TARRANT COUNTY, TEXAS,
AND BEING A PORTION OF THOSE TRACTS OF LAND DESCRIBED TO PMB VENTANA DEVELOPER SOUTH
LLC BY DEED RECORDED IN COUNTY CLERK FILE NOS. D221026481 (HEREINAFTER REFERRED TO AS "PMB
VENTANA TRACT 1") AND D224176443 (HEREINAFTER REFERRED TO AS "PMB VENTANA TRACT 2"),
OFFICIAL PUBLIC RECORDS OF TARRANT COUNTY, TEXAS, AND BEING ALL OF THAT TRACT OF LAND
DESCRIBED TO PHDFW-VENTANA 36 LLC BY DEED RECORDED IN COUNTY CLERK FILE NO. D224169598
OF SAID OFFICIAL PUBLIC RECORDS AND BEING ALL OF THAT TRACT OF LAND DESCRIBED TO AMERICAN
LEGEND LOT HOLDINGS LLC BY DEED RECORDED IN COUNTY CLERK FILE NO. D224123917 OF SAID
OFFICIAL PUBLIC RECORDS AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS
FOLLOWS:
BEGINNING AT A 5/8-INCH CAPPED IRON ROD STAMPED "JACOBS" FOUND FOR THE WEST COMMON
CORNER OF SAID PMB VENTANA TRACT 1 AND A TRACT OF LAND DESCRIBED TO FW CLUB LP BY DEED
RECORDED IN COUNTY CLERK FILE NO. D224085431 OF SAID OFFICIAL PUBLIC RECORDS;
THENCE NORTH 00°32'29" WEST, WITH THE WEST LINE OF SAID PMB VENTANA TRACT 1, A DISTANCE OF
1074.43 FEET TO A 5/8-INCH CAPPED IRON ROD STAMPED "LJA SURVEYING" SET (HEREINAFTER
REFERRED TO AS "IRON ROD SET") FOR THE SOUTHEAST CORNER OF SAID PMB VENTANA TRACT 2;
THENCE NORTH 29°01'22" WEST, WITH THE SOUTHWESTERLY LINE OF SAID PMB VENTANA TRACT 2, A
DISTANCE OF 310.00 FEET TO AN IRON ROD SET;
THENCE OVER AND ACROSS SAID PMB VENTANA TRACT 2, THE FOLLOWING COURSES AND DISTANCES:
NORTH 60°58'38" EAST, A DISTANCE OF 60.00 FEET TO AN IRON ROD SET;
NORTH 29°01'22" WEST, A DISTANCE OF 125.00 FEET TO AN IRON ROD SET;
NORTH 60°58'38" EAST, A DISTANCE OF 176.00 FEET TO AN IRON ROD SET ON THE WEST LINE
OF SAID PMB VENTANA TRACT 1;
THENCE NORTH 00°32'29" WEST, WITH SAID WEST LINE, A DISTANCE OF 341.31 FEET TO A 5/8-INCH
CAPPED IRON ROD STAMPED "JACOBS" FOUND FOR THE SOUTHWEST CORNER OF LOT 18, BLOCK 26,
VENTANA, PHASE 5A, AN ADDITION TO THE CITY OF FORT WORTH, TARRANT COUNTY, TEXAS, AS
SHOWN BY PLAT RECORDED IN COUNTY CLERK FILE NO. D221277917, PLAT RECORDS OF TARRANT
COUNTY, TEXAS;
THENCE NORTH 60°58'38" EAST, WITH THE NORTHERLY LINE OF SAID PMB VENTANA TRACT 1, A
DISTANCE OF 604.61 FEET TO A 5/8-INCH CAPPED IRON ROD STAMPED "LJA SURVEYING" FOUND
(HEREINAFTER REFERRED TO AS "CAPPED IRON ROD FOUND" ON THE SOUTHWEST RIGHT-OF-WAY LINE
OF EMBARGO ROAD (A 50-FOOT WIDE RIGHT-OF-WAY), SAME BEING THE NORTHWEST CORNER OF
VENTANA, PHASE 6A-1, AN ADDITION TO THE CITY OF FORT WORTH, TARRANT COUNTY, TEXAS, AS
SHOWN BY PLAT RECORDED IN COUNTY CLERK FILE NO. D222166626 OF SAID PLAT RECORDS;
THENCE WITH SAID SOUTHWEST RIGHT-OF-WAY LINE, THE FOLLOWING COURSES AND DISTANCES:
SOUTH 29°01'22" EAST, A DISTANCE OF 535.00 FEET TO A CAPPED IRON ROD FOUND;
SANTX-LAND\0002\200 SURVEY\230 Legal Descriptions\0002EX136 VENTANA 8.docx
Page 1 of 4
EXHIBIT C-2 72.059-
ACRE TRACT
SOUTH 15°58'38" WEST, A DISTANCE OF 14.14 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 29°01'22" EAST, A DISTANCE OF 50.00 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 74°01'22" EAST, A DISTANCE OF 14.14 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 29°01'22" EAST, A DISTANCE OF 230.00 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 15°58'38" WEST, A DISTANCE OF 14.14 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 29°01'22" EAST, A DISTANCE OF 50.00 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 74°01'22" EAST, A DISTANCE OF 14.14 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 29°01'22" EAST, A DISTANCE OF 1.92 FEET TO A CAPPED IRON ROD FOUND FOR THE
BEGINNING OF A CURVE TO THE LEFT HAVING A RADIUS OF 1525.00 FEET AND A CHORD THAT
BEARS SOUTH 33°10'56" EAST, 221.22 FEET;
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 8°19'08", AN ARC -DISTANCE
OF 221.42 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 37°20'30" EAST, A DISTANCE OF 40.91 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 07°09'49" WEST, A DISTANCE OF 14.26 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 37°20'30" EAST, A DISTANCE OF 50.01 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 82°50'11" EAST, A DISTANCE OF 14.02 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 37°20'30" EAST, A DISTANCE OF 168.42 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 10°07'50" WEST, A DISTANCE OF 13.52 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 31°57'59" EAST, A DISTANCE OF 60.00 FEET TO A CAPPED IRON ROD FOUND;
NORTH 57°48'39" EAST, A DISTANCE OF 5.64 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 80°04'28" EAST, A DISTANCE OF 14.69 FEET TO A CAPPED IRON ROD FOUND FOR THE
WEST COMMON CORNER OF SAID VENTANA PHASE 6A-1 ADDITION AND VENTANA, PHASE 613,
AN ADDITION TO THE CITY OF FORT WORTH, TARRANT COUNTY, TEXAS, AS SHOWN BY PLAT
RECORDED IN COUNTY CLERK FILE NO. D224076545 OF SAID PLAT RECORDS;
THENCE WITH THE SOUTHWESTERLY LINE OF SAID VENTANA PHASE 613, THE FOLLOWING COURSES AND
DISTANCES:
SOUTH 37°20'30" EAST, A DISTANCE OF 110.29 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 09°34'50" WEST, A DISTANCE OF 13.66 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 33°09'44" EAST, A DISTANCE OF 50.00 FEET TO A CAPPED IRON ROD FOUND FOR THE
SOUTHWEST CORNER OF SAID VENTANA PHASE 6B ADDITION ON THE NORTH LINE OF SAID
AMERICAN LEGEND LOT HOLDINGS LLCTRACT;
SANTX-LAND\0002\200 SURVEY\230 Legal Descriptions\0002EX136 VENTANA 8.docx
Page 2 of 4
EXHIBIT C-2 72.059-
ACRE TRACT
THENCE WITH THE NORTHWESTERLY LINE OF SAID AMERICAN LEGEND LOT HOLDINGS LLC TRACT, THE
FOLLOWING COURSES AND DISTANCES:
NORTH 56°43'20" EAST, A DISTANCE OF 3.65 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 80°31'33" EAST, A DISTANCE OF 14.58 FEET TO A CAPPED IRON ROD FOUND;
NORTH 54°23'23" EAST, A DISTANCE OF 50.02 FEET TO A CAPPED IRON ROD FOUND;
NORTH 07°34'26" EAST, A DISTANCE OF 14.16 FEET TO A CAPPED IRON ROD FOUND FOR THE
BEGINNING OF A NON -TANGENT CURVE TO THE LEFT HAVING A RADIUS OF 905.00 FEET AND A
CHORD THAT BEARS NORTH 50°03'34" EAST, 66.76 FEET;
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 4°13'38", AN ARC -DISTANCE
OF 66.77 FEET TO A CAPPED IRON ROD FOUND;
NORTH 47°56'45" EAST, A DISTANCE OF 33.43 FEET TO A CAPPED IRON ROD FOUND FOR THE
NORTHEAST CORNER OF SAID AMERICAN LEGEND LOT HOLDINGS LLC TRACT, SAME BEING A
REENTRANT CORNER OF SAID VENTANA PHASE 6B ADDITION;
THENCE WITH THE SOUTHWESTERLY LINE OF SAID VENTANA PHASE 613, THE FOLLOWING COURSES AND
DISTANCES:
SOUTH 37°20'30" EAST, A DISTANCE OF 565.64 FEET TO A CAPPED IRON ROD FOUND;
NORTH 52°39'30" EAST, A DISTANCE OF 105.00 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 37°20'30" EAST, A DISTANCE OF 153.02 FEET TO A CAPPED IRON ROD FOUND FOR THE
SOUTHWEST CORNER OF SAID VENTANA PHASE 6B ADDITION ON THE NORTHWESTERLY LINE OF
SAID FW CLUB LP TRACT;
THENCE WITH SAID NORTHWESTERLY LINE, THE FOLLOWING COURSES AND DISTANCES:
SOUTH 46°56'31" WEST, A DISTANCE OF 287.44 FEET TO A 5/8-INCH CAPPED IRON ROD
STAMPED "JACOBS" FOUND;
SOUTH 14°56'25" WEST, A DISTANCE OF 122.85 FEET TO A 5/8-INCH CAPPED IRON ROD
STAMPED "JACOBS" FOUND;
SOUTH 32°45'42" EAST, A DISTANCE OF 102.90 FEET TO AN IRON ROD SET;
SOUTH 60°24'29" WEST, A DISTANCE OF 780.16 FEET TO AN IRON ROD SET;
WEST, A DISTANCE OF 628.83 FEET TO AN IRON ROD SET;
NORTH 07°05'06" WEST, A DISTANCE OF 246.75 FEET TO AN IRON ROD SET;
NORTH 24°54'16" WEST, A DISTANCE OF 164.11 FEET TO AN IRON ROD SET;
SANTX-LAND\0002\200 SURVEY\230 Legal Descriptions\0002EX136 VENTANA 8.docx
Page 3 of 4
EXHIBIT C-2
72.059-ACRE TRACT
SOUTH 89°27'34" WEST, A DISTANCE OF 444.34 FEET TO THE POINT OF BEGINNING AND
CONTAINING A CALCULATED AREA OF 72.059 ACRES (3,138,884 SQ. FEET) OF LAND.
PRELIMINARY, THIS DOCUMENT SHALL NOT BE RECORDED FOR ANY PURPOSE AND SHALL NOT BE USED,
VIEWED OR RELIED UPON AS A FINAL SURVEY DOCUMENT.
Aaron C. Brown, R.P.L.S. September 17, 2025
Registered Professional Land Surveyor
Texas Registration No. 6702
LJA Surveying, Inc.
3017 West 7t" Street, Suite 300
Fort Worth, Texas 76107
817-288-1900
TBPELS Firm No. 10194382
SANTX-LAND\0002\200 SURVEY\230 Legal Descriptions\0002EX136 VENTANA 8.docx
Page 4 of 4
APPENDIX D
DIAGRAMS OF THE AUTHORIZED IMPROVEMENTS
Improvement Area #4
Improvement Area #5
APPENDIXE
PID ASSESSMENT NOTICE
AFTER RECORDING RETURN TO:
____________________
____________________
____________________
____________________
____________________]1
NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO
CITY OF FORT WORTH, TEXAS
CONCERNING THE FOLLOWING PROPERTY
__________________________________________
STREET ADDRESS OF PROPERTY
LOT TYPE _____ PRINCIPAL ASSESSMENT: $______
As the purchaser of the real property described above, you are obligated to pay assessments
to the City of Fort Worth, Texas (the City), for the costs of a portion of a public improvement or
services project (the "Authorized Improvements") undertaken for the benefit of the property within
Fort Worth Public Improvement District No. 22 (Veale Ranch) (the "District") created under
Subchapter A, Chapter 372, Local Government Code.
AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE
AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE
ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL
INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE
AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS, AND
DELINQUENCY COSTS.
The exact amount of the assessment may be obtained from the City. The exact amount of
each annual installment will be approved each year by the City Council in the annual service plan
update for the district. More information about the assessments, including the amounts and due
dates, may be obtained from the City.
Your failure to pay any assessment or any annual installment may result in penalties and
interest being added to what you owe or in a lien on and the foreclosure of your property.
1 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing
of the purchase and sale and to be recorded in the deed records of Tarrant County, Texas or Parker County, Texas.
Signature Page to Initial Notice
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date of
a binding contract for the purchase of the real property at the address described above.
DATE: DATE:
SIGNATURE OF
PURCHASER
SIGNATURE OF
PURCHASER
The undersigned seller acknowledges providing this notice to the potential purchaser before
the effective date of a binding contract for the purchase of the real property at the address described
above.
DATE: DATE:
SIGNATURE OF SELLER SIGNATURE OF SELLER]2
2 To be included in copy of the notice required by Section 5.014, Tex. Prop. Code, to be executed by seller in accordance
with Section 5.014(a-1), Tex. Prop. Code.
Purchaser Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
[The undersigned purchaser acknowledges receipt of this notice before the effective date of
a binding contract for the purchase of the real property at the address described above. The
undersigned purchaser acknowledged the receipt of this notice including the current information
required by Section 5.0143, Texas Property Code, as amended.
DATE: DATE:
SIGNATURE OF
PURCHASER
SIGNATURE OF
PURCHASER
STATE OF TEXAS §
§
COUNTY OF ___________ §
The foregoing instrument was acknowledged before me by ______________________ and
____________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument and acknowledged to me that he or she executed the same for the purposes
therein expressed.
Given under my hand and seal of office on this _________________, 20__.
Notary Public, State of Texas]3
3 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the closing
of the purchase and sale and to be recorded in the deed records of Tarrant County, Texas or Parker County, Texas.
Seller Signature Page to Final Notice with Current Information
of Obligation to Pay Improvement District Assessment
The undersigned seller acknowledges providing a separate copy of the notice required
by Section 5.014 of the Texas Property Code including the current information required by
Section 5.0143, Texas Property Code, as amended, at the closing of the purchase of the real
property at the address above.
DATE: DATE:
SIGNATURE OF SELLER SIGNATURE OF SELLER
STATE OF TEXAS §
§
COUNTY OF _____________ §
The foregoing instrument was acknowledged before me by ____________________ and
_________________ , known to me to be the person(s) whose name(s) is/are subscribed to the
foregoing instrument and acknowledged to me that he or she executed the same for the
purposes therein expressed.
Given under my hand and seal of office on this _________________ , 20__.
Notary Public, State of Texas]4
4 To be included in separate copy of the notice required by Section 5.0143, Tex. Prop. Code, to be executed at the
closing of the purchase and sale and to be recorded in the deed records of Tarrant County, Texas or Parker County,
Texas.
APPENDIX F
ASSESSMENT PER UNIT, PROJECTED LEVERAGE AND PROJECTED TAX RATE
EQUIVALENTS
Appendix F
For purposes of calculating and allocating the Assessments, the Assessed Property has been
classified in one of five Lot Types.
Lot Type 1 means lots identified as such on the Assessment Roll, being lots typically
considered estate lots.
Lot Type 2 means lots identified as such on the Assessment Roll, being lots typically
considered cottage lots.
Lot Type 3 means lots identified as such on the Assessment Roll, being lots typically with a
Lot width of approximately 70 feet.
Lot Type 4 means lots identified as such on the Assessment Roll, being lots typically with a
Lot width of approximately 60 feet.
Lot Type 5 means lots identified as such on the Assessment Roll, being lots typically with a
Lot width of approximately 50 feet.
Lot Type 6 means lots identified as such on the Assessment Roll, being lots typically with a
Lot width of approximately 40 feet.
A) Proposed Residential Development
Table F-1 shows the proposed total units to be developed within the PID.
Table F-1
Proposed Development within the PID
Proposed Development Quantity Measurement
Residential Units
Single-family 6,000 Units
Multi-family 11,000,000 GSF
Commercial
Retail Pad 600,000 GSF
Retail (Big Box) 900,000 GSF
Office 5,000,000 GSF
Industrial 12,000,000 GSF
Table F-2 shows the actual units developed within Improvement Areas #1, #2, and #3.
Table F-2
Actual Development Improvement Area #1, #2, and #3
Proposed Development Quantity Measurement
Residential Units
Single-family 273 Units
Multi-family 206,048 GSF
Commercial
Industrial 1,592,554 GSF
Table F-3 shows the proposed residential units within Improvement Area #4.
Table F-3
Proposed Development Improvement Area #4
Lot Type Proposed Development
Lot Type 1 (Estate Lots) 100 Units
Lot Type 2 (Cottage Lots) 36 Units
Total 136 Units
Table F-4 shows the proposed residential Lot Types within Improvement Area #5.
Table F-4
Proposed Development Improvement Area #5
Lot Type Proposed Development
Lot Type 3 (70 Ft) 39 Units
Lot Type 4 (60 Ft) 38 Units
Lot Type 5 (50 Ft) 163 Units
Lot Type 6 (40 Ft) 37 Units
Total 277 Units
Table F-5 shows the proposed units within the Future Improvement Areas.
Table F-5
Proposed Development Future Improvement Areas
Proposed Development Quantity Measurement
Residential Units
Single-family 5,053 Units
Multi-family 10,793,952 GSF
Commercial
Retail Pad 600,000 GSF
Retail (Big Box) 900,000 GSF
Office 5,000,000 GSF
Industrial 10,407,446 GSF
B) Calculation of Equivalent Units
As explained under Section V.D, for the purposes of this Service and Assessment Plan, the City
Council has determined that the Actual Costs of the Improvement Area #4 Improvements and
Improvement Area #5 Improvements to be financed with the Improvement Area #4
Reimbursement Agreement and Improvement Area #5 Reimbursement Agreement, respectively,
shall be allocated to the Improvement Area #4 Assessed Property and the Improvement Area #5
Assessed Property by spreading the entire Improvement Area #4 Assessment and Improvement
Area #5 Assessment across the Parcels of Improvement Area #4 Assessed Property and
Improvement Area #5 Assessed Property, respectively, based on the estimated Equivalent Units.
For the purposes of this Service and Assessment Plan, the City Council has determined that the
Improvement Area #4 Assessments and the Improvement Area #5 Assessments shall be allocated
to the Improvement Area #4 Assessed Property and Improvement Area #5 Assessed Property on
the basis of the average home value of each Lot Type, and that such method of allocation will
result in the imposition of equal shares of the Improvement Area #4 Assessments and the
Improvement Area #5 Assessments on Parcels of Improvement Area #4 Assessed Property and
the Improvement Area #5 Assessed Property, respectively, similarly benefited. In determining the
average home value of each Lot Type, the City Council has taken into consideration (i) the Lot
Types (i.e., 70 Ft, 60 Ft, etc.); (ii) current and projected home prices; (iii) the costs of the
Authorized Improvements, and (iv) the ability of different property types to utilize and benefit
from the Authorized Improvements.
Improvement Area #4
Having taken into consideration the matters described above; the City Council has determined
that allocating the Improvement Area #4 Assessments among Parcels of Improvement Area #4
Assessed Property based on average home value is best accomplished by creating classifications
of benefited Parcels based on the Lot Types defined above. These classifications from Lot Type
1 (Estate Lots) which represents the highest value to Lot Type 2 (Cottage Lots) representing the
lowest value for residential lots are set forth in Table F-6. Improvement Area #4 Assessments are
allocated to each Lot Type on the basis of the average home value for each class of lot. This is
accomplished by giving each Lot Type an Equivalent Unit factor. Equivalent Units are the ratio
of the average value of lots within each lot class, setting the Equivalent Unit factor for Lot Type
1 (Estate Lot) to 1.0.
Table F-6
Equivalent Unit Factors - Improvement Area #4
Lot Type
Estimated
Average Unit
Value
Equivalent Unit
Factor
Lot Type 1 (Estate Lot) $4,250,000 1.00 Per dwelling unit
Lot Type 2 (Cottage Lot) $3,250,000 0.76 Per dwelling unit
Improvement Area #5
Having taken into consideration the matters described above; the City Council has determined
that allocating the Improvement Area #5 Assessments among Parcels of Improvement Area #5
Assessed Property based on average home value is best accomplished by creating classifications
of benefited Parcels based on the Lot Types defined above. These classifications from Lot Type
3 (70 Ft Lot) representing the highest value to Lot Type 6 (40 Ft Lot) representing the lowest
value for residential lots are set forth in Table F-7. Improvement Area #5 Assessments are
allocated to each Lot Type on the basis of the average home value for each class of lot. This is
accomplished by giving each Lot Type an Equivalent Unit factor. Equivalent Units are the ratio
of the average value of lots within each lot class, setting the Equivalent Unit factor for Lot Type
3 (70 Ft Lots) to 1.0.
Table F-7
Equivalent Unit Factors Improvement Area #5
Lot Type
Estimated
Average Unit
Value Equivalent Unit Factor
Lot Type 3 (70 Ft Lot) $580,000 1.00 Per dwelling unit
Lot Type 4 (60 Ft Lot) $530,000 0.91 Per dwelling unit
Lot Type 5 (50 Ft Lot) $480,000 0.83 Per dwelling unit
Lot Type 6 (40 Ft Lot) $430,000 0.74 Per dwelling unit
C) Allocation of Assessments to Lots within Improvement Area #4
The total estimated Equivalent Units for Improvement Area #4 Assessed Property are shown in
Table F-8 as calculated based on the Equivalent Unit factors shown in Table F-6, estimated Lot
Types and number of units estimated to be built within Improvement Area #4.
Table F-8
Estimated Equivalent Units - Improvement Area #4
Lot Type
Planned
No. of units
Equivalent
Unit Factor
Total
Equivalent
Units
Lot Type 1 (Estate Lots) 100 1.00 100.00
Lot Type 2 (Cottage Lots) 36 0.76 27.36
Total 136 127.36
As shown in Section IV of this Service and Assessment Plan, the total amount of the Improvement
Area #4 Reimbursement Agreement, which represents the total Improvement Area #4 Assessment
to be allocated on all Parcels of Improvement Area #4 Assessed Property, is $16,630,000. As
shown in Table F-8, there are a total of 127.36 estimated Equivalent Units in Improvement Area
#4, resulting in an Assessment per Equivalent Unit of $130,574.75.
The Improvement Area #4 Assessment per dwelling unit is calculated as the product of (i)
$130,574.75 multiplied by (ii) the applicable Equivalent Unit value for each Lot Type. For
example, the Improvement Area #4 Assessment for a Lot Type 1 (Estate Lot) dwelling unit is
$130,574.75 (i.e. $130,574.75 × 1.00). The Improvement Area #4 Assessment for a Lot Type 2
(Cottage Lot) dwelling unit is $99,236.81 (i.e. $130,574.75 × 0.76), Table F-9 sets forth the
Assessment per dwelling unit for each Lot Type in Improvement Area #4.
Table F-9
Assessment Per Unit Improvement Area #4
Type
Planned
No. of
Units
Assessment
per
Equivalent
Unit
Equivalent
Unit
Factor Assessment per Unit
Total
Assessments
Lot Type 1 (Estate Lots) 100 $130,574.75 1.00 $130,574.75 Per dwelling unit $13,057,475
Lot Type 2 (Cottage Lots) 36 $130,574.75 0.76 $99,236.81 Per dwelling unit $3,572,525
Total 136 $16,630,000
The projected leverage calculated based on the estimated land values, finished lot values and home
values for each unit in Improvement Area #4 is shown in Table F-10.
Table F-10
Projected Leverage Improvement Area #4
Description
Planned
No. of
Units
Estimated
Finished Lot
Value per unit
Projected
Home Value
per unit
Assessment
per Unit
Leverage
(Lot
Value)
Leverage
(Home
Value)
Lot Type 1 (Estate Lots) 100 $1,500,000 $4,250,000 $130,574.75 11.49 32.55
Lot Type 2 (Cottage Lots) 36 $1,000,000 $3,250,000 $99,236.81 10.08 32.75
The projected tax rate equivalent per unit calculated based on the estimated finished lot values
and home values for each unit in Improvement Area #4 is shown in Table F-11.
Table F-11
Estimated Tax Rate Equivalent per unit Improvement Area #4
Description
Planned
No. of
Units
Estimated
Finished Lot
Value per unit
Projected
Home
Value per
unit
Projected
Average Annual
Installment per
unit
Tax Rate
Equivalent
(per $100
Lot Value)
Tax Rate
Equivalent
(per $100
Home Value)
Lot Type 1 (Estate Lots) 100 $1,500,000 $4,250,000 $12,225.75 $0.8150 $0.2877
Lot Type 2 (Cottage Lots) 36 $1,000,000 $3,250,000 $9,304.88 $0.9305 $0.2863
The Improvement Area #4 Assessment and Annual Installments for each Parcel of Improvement
Area #4 Assessed Property is shown on the Improvement Area #4 Assessment Roll, attached as
Appendix G, and no Improvement Area #4 Assessment shall be changed except as authorized by
this Service and Assessment Plan and the PID Act.
D) Allocation of Assessments to Lots within Improvement Area #5
The total estimated Equivalent Units for Improvement Area #5 Assessed Property are shown in
Table F-12 as calculated based on the Equivalent Unit factors shown in Table F-7, estimated Lot
Types and number of units estimated to be built within Improvement Area #5.
Table F-12
Estimated Equivalent Units - Improvement Area #5
Lot Type
Planned
No. of units
Equivalent
Unit Factor
Total
Equivalent
Units
Lot Type 3 (70 Ft Lot) 39 1.00 39.00
Lot Type 4 (60 Ft Lot) 38 0.91 34.58
Lot Type 5 (50 Ft Lot) 163 0.83 135.29
Lot Type 6 (40 Ft Lot) 37 0.74 27.38
Total 277 236.25
As shown in Section IV of this Service and Assessment Plan, the total amount of the Improvement
Area #5 Reimbursement Agreement, which represents the total Improvement Area #5 Assessment
to be allocated on all Parcels of Improvement Area #5 Assessed Property, is $6,809,000. As shown
in Table F-12, there are a total of 236.25 estimated Equivalent Units in Improvement Area #5,
resulting in an Improvement Area #5 Assessment per Equivalent Unit of $28,821.16.
The Improvement Area #5 Assessment per dwelling unit is calculated as the product of (i)
$28,821.16 multiplied by (ii) the applicable Equivalent Unit value for each Lot Type. For example,
the Improvement Area #5 Assessment for a Lot Type 3 (70 Ft Lot) dwelling unit is $28,821.16
(i.e. $28,821.16 × 1.00). The Improvement Area #5 Assessment for a Lot Type 4 (60 Ft Lot)
dwelling unit is $26,227.26 (i.e. $28,821.16 × 0.91), and so on. Table F-13 sets forth the projected
Improvement Area #5 Assessment per dwelling unit for each Lot Type in Improvement Area #5.
Table F-13
Assessment Per Unit Improvement Area #5
Type
Planned
No. of
Units
Assessment
per
Equivalent
Unit
Equivalent
Unit
Factor Assessment per Unit
Total
Assessments
Lot Type 3 (70 Ft Lot) 39 $28,821.16 1.00 $28,821.16 Per dwelling unit $1,124,025
Lot Type 4 (60 Ft Lot) 38 $28,821.16 0.91 $26,227.26 Per dwelling unit $996,636
Lot Type 5 (50 Ft Lot) 163 $28,821.16 0.83 $23,921.57 Per dwelling unit $3,899,215
Lot Type 6 (40 Ft Lot) 37 $28,821.16 0.74 $21,327.66 Per dwelling unit $789,123
Total 277 $6,809,000
The projected leverage calculated based on the estimated land values, finished lot values and home
values for each unit in Improvement Area #5 is shown in Table F-14.
Table F-14
Projected Leverage Improvement Area #5
Description
Planned
No. of
Units
Estimated
Finished Lot
Value per unit
Projected
Home Value
per unit
Assessment
per Unit
Leverage
(Lot
Value)
Leverage
(Home
Value)
Lot Type 3 (70 Ft Lot) 39 $169,000 $580,000 $28,821.16 5.86 20.12
Lot Type 4 (60 Ft Lot) 38 $148,000 $530,000 $26,227.26 5.64 20.21
Lot Type 5 (50 Ft Lot) 163 $126,000 $480,000 $23,921.57 5.27 20.07
Lot Type 6 (40 Ft Lot) 37 $105,000 $430,000 $21,327.66 4.92 20.16
The projected tax rate equivalent per unit calculated based on the estimated finished lot values
and home values for each unit in Improvement Area #5 is shown in Table F-15.
Table F-15
Estimated Tax Rate Equivalent per unit Improvement Area #5
Description
Planned
No. of
Units
Estimated
Finished Lot
Value per unit
Projected
Home
Value per
unit
Projected
Average Annual
Installment per
unit
Tax Rate
Equivalent
(per $100
Lot Value)
Tax Rate
Equivalent
(per $100
Home Value)
Lot Type 3 (70 Ft Lot) 39 $169,000 $580,000 $2,966.53 $1.7553 $0.5115
Lot Type 4 (60 Ft Lot) 38 $148,000 $530,000 $2,699.54 $1.8240 $0.5093
Lot Type 5 (50 Ft Lot) 163 $126,000 $480,000 $2,462.22 $1.9541 $0.5130
Lot Type 6 (40 Ft Lot) 37 $105,000 $430,000 $2,195.23 $2.0907 $0.5105
The Improvement Area #5 Assessment and Annual Installments for each Parcel of Improvement
Area #5 Assessed Property is shown on the Improvement Area #5 Assessment Roll, attached as
Appendix H, and no Improvement Area #5 Assessment shall be changed except as authorized by
this Service and Assessment Plan and the PID Act.
APPENDIX G
IMPROVEMENT AREA #4 ASSESSMENT ROLL
Appendix G-1
Improvement Area #4 Assessment Roll
Parcels See Appendix G-4
Assessment $16,630,000
Total Equivalent Units 127.36
Year Principal Interest1
Administrative
Expenses2
Total Annual
Installment
2026 $0 $0 $0 $0
2027 $20,000 $1,506,678 $95,000 $1,621,678
2028 $20,000 $1,504,866 $96,900 $1,621,766
2029 $20,000 $1,503,054 $98,838 $1,621,892
2030 $20,000 $1,501,242 $100,815 $1,622,057
2031 $20,000 $1,499,430 $102,831 $1,622,261
2032 $282,000 $1,163,712 $104,888 $1,550,600
2033 $299,000 $1,143,859 $106,985 $1,549,845
2034 $318,000 $1,122,810 $109,125 $1,549,935
2035 $338,000 $1,100,422 $111,308 $1,549,730
2036 $359,000 $1,076,627 $113,534 $1,549,161
2037 $381,000 $1,051,354 $115,804 $1,548,158
2038 $406,000 $1,024,531 $118,121 $1,548,652
2039 $432,000 $995,949 $120,483 $1,548,432
2040 $459,000 $965,536 $122,893 $1,547,429
2041 $489,000 $933,222 $125,350 $1,547,573
2042 $521,000 $898,797 $127,857 $1,547,654
2043 $555,000 $862,118 $130,415 $1,547,533
2044 $592,000 $823,046 $133,023 $1,548,069
2045 $631,000 $781,370 $135,683 $1,548,053
2046 $673,000 $736,947 $138,397 $1,548,344
2047 $718,000 $689,568 $141,165 $1,548,733
2048 $766,000 $639,021 $143,988 $1,549,009
2049 $817,000 $585,094 $146,868 $1,548,962
2050 $872,000 $527,578 $149,805 $1,549,383
2051 $931,000 $466,189 $152,802 $1,549,990
2052 $994,000 $400,646 $155,858 $1,550,504
2053 $1,061,000 $330,669 $158,975 $1,550,644
2054 $1,133,000 $255,974 $162,154 $1,551,129
2055 $1,211,000 $176,211 $165,397 $1,552,608
2056 $1,292,000 $90,957 $168,705 $1,551,662
Total $16,630,000 $26,357,478 $3,853,968 $46,841,446
1The interest is calculated using an interest rate of 9.06% for years 1 through 5 (2026-2030)
and 7.04% for years 6 through 30 (2031-2056).
2Administrative Expenses are estimated and will be updated each year in the Annual Service
Plan Updates. Assumes a 2% increase per year.
Appendix G-2
Improvement Area #4 Assessment Roll by Lot Type
Parcels Lot Type 1 (Estate Lots)
Assessment $130,574.75
Equivalent Unit Factor 1.00
Year Principal Interest1
Administrative
Expenses2
Total Annual
Installment
2026 $0 $0 $0 $0
2027 $157 $11,830 $746 $12,733
2028 $157 $11,816 $761 $12,734
2029 $157 $11,802 $776 $12,735
2030 $157 $11,787 $792 $12,736
2031 $157 $11,773 $807 $12,738
2032 $2,214 $9,137 $824 $12,175
2033 $2,348 $8,981 $840 $12,169
2034 $2,497 $8,816 $857 $12,170
2035 $2,654 $8,640 $874 $12,168
2036 $2,819 $8,453 $891 $12,164
2037 $2,992 $8,255 $909 $12,156
2038 $3,188 $8,044 $927 $12,160
2039 $3,392 $7,820 $946 $12,158
2040 $3,604 $7,581 $965 $12,150
2041 $3,840 $7,327 $984 $12,151
2042 $4,091 $7,057 $1,004 $12,152
2043 $4,358 $6,769 $1,024 $12,151
2044 $4,648 $6,462 $1,044 $12,155
2045 $4,954 $6,135 $1,065 $12,155
2046 $5,284 $5,786 $1,087 $12,157
2047 $5,638 $5,414 $1,108 $12,160
2048 $6,014 $5,017 $1,131 $12,162
2049 $6,415 $4,594 $1,153 $12,162
2050 $6,847 $4,142 $1,176 $12,165
2051 $7,310 $3,660 $1,200 $12,170
2052 $7,805 $3,146 $1,224 $12,174
2053 $8,331 $2,596 $1,248 $12,175
2054 $8,896 $2,010 $1,273 $12,179
2055 $9,508 $1,384 $1,299 $12,191
2056 $10,144 $714 $1,325 $12,183
Total $130,575 $206,953 $30,260 $367,788
1The interest is calculated using an interest rate of 9.06% for years 1 through 5 (2026-2030)
and 7.04% for years 6 through 30 (2031-2056).
2Administrative Expenses are estimated and will be updated each year in the Annual Service
Plan Updates. Assumes a 2% increase per year.
Appendix G-3
Improvement Area #4 Assessment Roll by Lot Type
Parcels Lot Type 2 (Cottage Lots)
Assessment $99,236.81
Equivalent Unit Factor 0.76
Year Principal Interest1
Administrative
Expenses2
Total Annual
Installment
2026 $0 $0 $0 $0
2027 $119 $8,991 $567 $9,677
2028 $119 $8,980 $578 $9,678
2029 $119 $8,969 $590 $9,678
2030 $119 $8,958 $602 $9,679
2031 $119 $8,948 $614 $9,681
2032 $1,683 $6,944 $626 $9,253
2033 $1,784 $6,826 $638 $9,248
2034 $1,898 $6,700 $651 $9,249
2035 $2,017 $6,567 $664 $9,248
2036 $2,142 $6,425 $677 $9,244
2037 $2,274 $6,274 $691 $9,238
2038 $2,423 $6,114 $705 $9,241
2039 $2,578 $5,943 $719 $9,240
2040 $2,739 $5,762 $733 $9,234
2041 $2,918 $5,569 $748 $9,235
2042 $3,109 $5,363 $763 $9,235
2043 $3,312 $5,145 $778 $9,235
2044 $3,533 $4,911 $794 $9,238
2045 $3,765 $4,663 $810 $9,238
2046 $4,016 $4,398 $826 $9,239
2047 $4,285 $4,115 $842 $9,242
2048 $4,571 $3,813 $859 $9,243
2049 $4,875 $3,491 $876 $9,243
2050 $5,204 $3,148 $894 $9,246
2051 $5,556 $2,782 $912 $9,249
2052 $5,932 $2,391 $930 $9,252
2053 $6,331 $1,973 $949 $9,253
2054 $6,761 $1,527 $968 $9,256
2055 $7,226 $1,052 $987 $9,265
2056 $7,710 $543 $1,007 $9,259
Total $99,237 $157,284 $22,998 $279,519
1The interest is calculated using an interest rate of 9.06% for years 1 through 5 (2026-2030)
and 7.04% for years 6 through 30 (2031-2056).
2Administrative Expenses are estimated and will be updated each year in the Annual Service
Plan Updates. Assumes a 2% increase per year.
Parcel ID Block # Lot # Lot Type
Equivalent
Units Outstanding Assessment
43201159 1 1X 3 Total Lots 2.52 $329,048
43201281 2 13 Estate Lot 1.00 $130,575
43201272 2 12 Estate Lot 1.00 $130,575
43201264 2 11 Estate Lot 1.00 $130,575
43201256 2 10 Estate Lot 1.00 $130,575
43201248 2 9 Estate Lot 1.00 $130,575
43201230 2 8 Estate Lot 1.00 $130,575
43201221 2 7 Estate Lot 1.00 $130,575
43201213 2 6 Estate Lot 1.00 $130,575
43201205 2 5 Estate Lot 1.00 $130,575
43201191 2 4 Estate Lot 1.00 $130,575
43201183 2 3 Estate Lot 1.00 $130,575
43201175 2 2 Estate Lot 1.00 $130,575
43201167 2 1 Estate Lot 1.00 $130,575
43201141 1 120 Estate Lot 1.00 $130,575
43201132 1 119 Estate Lot 1.00 $130,575
43201124 1 118 Estate Lot 1.00 $130,575
43201116 1 117 Estate Lot 1.00 $130,575
43201108 1 116 Estate Lot 1.00 $130,575
43201094 1 115 Estate Lot 1.00 $130,575
43201086 1 114 Estate Lot 1.00 $130,575
43201078 1 113 Estate Lot 1.00 $130,575
43201060 1 112 Estate Lot 1.00 $130,575
43201051 1 111 Estate Lot 1.00 $130,575
43201043 1 110 Estate Lot 1.00 $130,575
43201035 1 109 Estate Lot 1.00 $130,575
43201027 1 108 Estate Lot 1.00 $130,575
43201019 1 107 Estate Lot 1.00 $130,575
43201001 1 106 Estate Lot 1.00 $130,575
43200993 1 105 Estate Lot 1.00 $130,575
43200985 1 104 Estate Lot 1.00 $130,575
43200977 1 103 Estate Lot 1.00 $130,575
43200969 1 102 Estate Lot 1.00 $130,575
43200951 1 101 Estate Lot 1.00 $130,575
43200942 1 100 Estate Lot 1.00 $130,575
43200934 1 99 Estate Lot 1.00 $130,575
43200926 1 98 Estate Lot 1.00 $130,575
43200918 1 97 Estate Lot 1.00 $130,575
43200900 1 96 Estate Lot 1.00 $130,575
43200896 1 95 Estate Lot 1.00 $130,575
Appendix G-4
Improvement Area #4 Assessment Roll Summary
Parcel ID Block # Lot # Lot Type
Equivalent
Units Outstanding Assessment
Appendix G-4
Improvement Area #4 Assessment Roll Summary
43200888 1 94 Estate Lot 1.00 $130,575
43200870 1 93 Estate Lot 1.00 $130,575
43200861 1 92 Estate Lot 1.00 $130,575
43200853 1 91 Estate Lot 1.00 $130,575
43200845 1 90 Estate Lot 1.00 $130,575
43200837 1 89 Estate Lot 1.00 $130,575
43200829 1 88 Estate Lot 1.00 $130,575
43200811 1 87 Estate Lot 1.00 $130,575
43200802 1 86 Estate Lot 1.00 $130,575
43200799 1 85 Estate Lot 1.00 $130,575
43200781 1 84 Cottage Lot 0.76 $99,237
43200772 1 83 Cottage Lot 0.76 $99,237
43200764 1 82 Cottage Lot 0.76 $99,237
43200756 1 81 Cottage Lot 0.76 $99,237
43200748 1 80 Cottage Lot 0.76 $99,237
43200730 1 79 Cottage Lot 0.76 $99,237
43200721 1 78 Cottage Lot 0.76 $99,237
43200713 1 77 Cottage Lot 0.76 $99,237
43200705 1 76 Estate Lot 1.00 $130,575
43200691 1 75 Estate Lot 1.00 $130,575
43200683 1 74 Estate Lot 1.00 $130,575
43200675 1 73 Estate Lot 1.00 $130,575
43200667 1 72 Estate Lot 1.00 $130,575
43200659 1 71 Estate Lot 1.00 $130,575
43200641 1 70 Estate Lot 1.00 $130,575
43200632 1 69 Estate Lot 1.00 $130,575
43200624 1 68 Estate Lot 1.00 $130,575
43200616 1 67 Estate Lot 1.00 $130,575
43200608 1 66 Estate Lot 1.00 $130,575
43200594 1 65 Estate Lot 1.00 $130,575
43200586 1 64 Estate Lot 1.00 $130,575
43200578 1 63 Estate Lot 1.00 $130,575
43200560 1 62 Estate Lot 1.00 $130,575
43200551 1 61 Estate Lot 1.00 $130,575
43200543 1 60 Estate Lot 1.00 $130,575
43200535 1 59 Estate Lot 1.00 $130,575
43200527 1 58 Estate Lot 1.00 $130,575
43200519 1 57 Estate Lot 1.00 $130,575
43200501 1 56 Cottage Lot 0.76 $99,237
43200497 1 55 Cottage Lot 0.76 $99,237
Parcel ID Block # Lot # Lot Type
Equivalent
Units Outstanding Assessment
Appendix G-4
Improvement Area #4 Assessment Roll Summary
43200489 1 54 Cottage Lot 0.76 $99,237
43200471 1 53 Cottage Lot 0.76 $99,237
43200462 1 52 Cottage Lot 0.76 $99,237
43200454 1 51 Cottage Lot 0.76 $99,237
43200446 1 50 Estate Lot 1.00 $130,575
43200438 1 49 Estate Lot 1.00 $130,575
43200420 1 48 Estate Lot 1.00 $130,575
43200411 1 47 Estate Lot 1.00 $130,575
43200403 1 46 Estate Lot 1.00 $130,575
43200390 1 45 Estate Lot 1.00 $130,575
43200381 1 44 Estate Lot 1.00 $130,575
43200373 1 43 Estate Lot 1.00 $130,575
43200365 1 42 Estate Lot 1.00 $130,575
43200357 1 41 Estate Lot 1.00 $130,575
43200349 1 40 Cottage Lot 0.76 $99,237
43200331 1 39 Cottage Lot 0.76 $99,237
43200322 1 38 Cottage Lot 0.76 $99,237
43200314 1 37 Cottage Lot 0.76 $99,237
43200306 1 36 Cottage Lot 0.76 $99,237
43200292 1 35 Estate Lot 1.00 $130,575
43200284 1 34 Estate Lot 1.00 $130,575
43200276 1 33 Estate Lot 1.00 $130,575
43200268 1 32 Estate Lot 1.00 $130,575
43200250 1 31 Estate Lot 1.00 $130,575
43200241 1 30 Estate Lot 1.00 $130,575
43200233 1 29 Estate Lot 1.00 $130,575
43200225 1 28 Estate Lot 1.00 $130,575
43200217 1 27 Estate Lot 1.00 $130,575
43200209 1 26 Estate Lot 1.00 $130,575
43200195 1 25 Cottage Lot 0.76 $99,237
43200187 1 24 Cottage Lot 0.76 $99,237
43200179 1 23 Cottage Lot 0.76 $99,237
43200161 1 22 Cottage Lot 0.76 $99,237
43200152 1 21 Cottage Lot 0.76 $99,237
43200144 1 20 Cottage Lot 0.76 $99,237
43200136 1 19 Cottage Lot 0.76 $99,237
43200128 1 18 Cottage Lot 0.76 $99,237
43200110 1 17 Estate Lot 1.00 $130,575
43200101 1 16 Estate Lot 1.00 $130,575
43200098 1 15 Estate Lot 1.00 $130,575
Parcel ID Block # Lot # Lot Type
Equivalent
Units Outstanding Assessment
Appendix G-4
Improvement Area #4 Assessment Roll Summary
43200080 1 14 Estate Lot 1.00 $130,575
43200071 1 13 Estate Lot 1.00 $130,575
43200063 1 12 Estate Lot 1.00 $130,575
43200055 1 11 Estate Lot 1.00 $130,575
43200047 1 10 Estate Lot 1.00 $130,575
43200039 1 9 Estate Lot 1.00 $130,575
43200021 1 8 Estate Lot 1.00 $130,575
43200012 1 7 Cottage Lot 0.76 $99,237
43200004 1 6 Cottage Lot 0.76 $99,237
43199995 1 5 Cottage Lot 0.76 $99,237
43199987 1 4 Cottage Lot 0.76 $99,237
43199979 1 3 Cottage Lot 0.76 $99,237
43199961 1 2 Cottage Lot 0.76 $99,237
43199952 1 1 Cottage Lot 0.76 $99,237
Total 127.36 $16,630,000
APPENDIX H
IMPROVEMENT AREA #5 ASSESSMENT ROLL
Appendix H-1
Improvement Area #5 Assessment Roll
Parcels See Appendix H-6
Assessment $6,809,000
Total Equivalent Units 236.25
Year Principal Interest1
Administrative
Expenses2
Total Annual
Installment
2026 $0 $0 $0 $0
2027 $37,000 $616,895 $95,000 $748,895
2028 $38,000 $613,543 $96,900 $748,443
2029 $40,000 $610,100 $98,838 $748,938
2030 $41,000 $606,476 $100,815 $748,291
2031 $44,000 $602,762 $102,831 $749,593
2032 $126,000 $465,274 $104,888 $696,161
2033 $132,000 $456,403 $106,985 $695,389
2034 $139,000 $447,110 $109,125 $695,236
2035 $146,000 $437,325 $111,308 $694,632
2036 $154,000 $427,046 $113,534 $694,580
2037 $162,000 $416,205 $115,804 $694,009
2038 $171,000 $404,800 $118,121 $693,921
2039 $180,000 $392,762 $120,483 $693,245
2040 $191,000 $380,090 $122,893 $693,982
2041 $201,000 $366,643 $125,350 $692,994
2042 $213,000 $352,493 $127,857 $693,350
2043 $225,000 $337,498 $130,415 $692,912
2044 $239,000 $321,658 $133,023 $693,681
2045 $253,000 $304,832 $135,683 $693,515
2046 $268,000 $287,021 $138,397 $693,418
2047 $285,000 $268,154 $141,165 $694,319
2048 $302,000 $248,090 $143,988 $694,078
2049 $321,000 $226,829 $146,868 $694,697
2050 $341,000 $204,230 $149,805 $695,036
2051 $363,000 $180,224 $152,802 $696,026
2052 $386,000 $154,669 $155,858 $696,526
2053 $411,000 $127,494 $158,975 $697,469
2054 $437,000 $98,560 $162,154 $697,714
2055 $466,000 $67,795 $165,397 $699,192
2056 $497,000 $34,989 $168,705 $700,694
Total $6,809,000 $10,457,969 $3,853,968 $21,120,937
1The interest is calculated using an interest rate of 9.06% for years 1 through 5 (2026-2030)
and 7.04% for years 6 through 30 (2031-2056).
2Administrative Expenses are estimated and will be updated each year in the Annual Service
Plan Updates. Assumes a 2% increase per year.
Appendix H-2
Improvement Area #5 Assessment Roll by Lot Type
Parcels Lot Type 3 (70 Ft)
Assessment $28,281.16
Equivalent Unit Factor 1.00
Year Principal Interest1
Administrative
Expenses2
Total Annual
Installment
2026 $0 $0 $0 $0
2027 $157 $2,611 $402 $3,170
2028 $161 $2,597 $410 $3,168
2029 $169 $2,582 $418 $3,170
2030 $174 $2,567 $427 $3,167
2031 $186 $2,551 $435 $3,173
2032 $533 $1,969 $444 $2,947
2033 $559 $1,932 $453 $2,943
2034 $588 $1,893 $462 $2,943
2035 $618 $1,851 $471 $2,940
2036 $652 $1,808 $481 $2,940
2037 $686 $1,762 $490 $2,938
2038 $724 $1,713 $500 $2,937
2039 $762 $1,662 $510 $2,934
2040 $808 $1,609 $520 $2,937
2041 $851 $1,552 $531 $2,933
2042 $902 $1,492 $541 $2,935
2043 $952 $1,429 $552 $2,933
2044 $1,012 $1,362 $563 $2,936
2045 $1,071 $1,290 $574 $2,936
2046 $1,134 $1,215 $586 $2,935
2047 $1,206 $1,135 $598 $2,939
2048 $1,278 $1,050 $609 $2,938
2049 $1,359 $960 $622 $2,941
2050 $1,443 $864 $634 $2,942
2051 $1,537 $763 $647 $2,946
2052 $1,634 $655 $660 $2,948
2053 $1,740 $540 $673 $2,952
2054 $1,850 $417 $686 $2,953
2055 $1,972 $287 $700 $2,960
2056 $2,104 $148 $714 $2,966
Total $28,821 $44,267 $16,313 $89,401
1The interest is calculated using an interest rate of 9.06% for years 1 through 5 (2026-2030)
and 7.04% for years 6 through 30 (2031-2056).
2Administrative Expenses are estimated and will be updated each year in the Annual Service
Plan Updates. Assumes a 2% increase per year.
Appendix H-3
Improvement Area #5 Assessment Roll by Lot Type
Parcels Lot Type 4 (60 Ft)
Assessment $26,227.26
Equivalent Unit Factor 0.91
Year Principal Interest1
Administrative
Expenses2
Total Annual
Installment
2026 $0 $0 $0 $0
2027 $143 $2,376 $366 $2,885
2028 $146 $2,363 $373 $2,883
2029 $154 $2,350 $381 $2,885
2030 $158 $2,336 $388 $2,882
2031 $169 $2,322 $396 $2,887
2032 $485 $1,792 $404 $2,682
2033 $508 $1,758 $412 $2,679
2034 $535 $1,722 $420 $2,678
2035 $562 $1,685 $429 $2,676
2036 $593 $1,645 $437 $2,675
2037 $624 $1,603 $446 $2,673
2038 $659 $1,559 $455 $2,673
2039 $693 $1,513 $464 $2,670
2040 $736 $1,464 $473 $2,673
2041 $774 $1,412 $483 $2,669
2042 $820 $1,358 $492 $2,671
2043 $867 $1,300 $502 $2,669
2044 $921 $1,239 $512 $2,672
2045 $975 $1,174 $523 $2,671
2046 $1,032 $1,106 $533 $2,671
2047 $1,098 $1,033 $544 $2,674
2048 $1,163 $956 $555 $2,673
2049 $1,236 $874 $566 $2,676
2050 $1,313 $787 $577 $2,677
2051 $1,398 $694 $589 $2,681
2052 $1,487 $596 $600 $2,683
2053 $1,583 $491 $612 $2,687
2054 $1,683 $380 $625 $2,687
2055 $1,795 $261 $637 $2,693
2056 $1,914 $135 $650 $2,699
Total $26,227 $40,283 $14,845 $81,355
1The interest is calculated using an interest rate of 9.06% for years 1 through 5 (2026-2030)
and 7.04% for years 6 through 30 (2031-2056).
2Administrative Expenses are estimated and will be updated each year in the Annual Service
Plan Updates. Assumes a 2% increase per year.
Appendix H-4
Improvement Area #5 Assessment Roll by Lot Type
Parcels Lot Type 5 (50 Ft)
Assessment $23,912.57
Equivalent Unit Factor 0.83
Year Principal Interest1
Administrative
Expenses2
Total Annual
Installment
2026 $0 $0 $0 $0
2027 $130 $2,167 $334 $2,631
2028 $134 $2,156 $340 $2,629
2029 $141 $2,143 $347 $2,631
2030 $144 $2,131 $354 $2,629
2031 $155 $2,118 $361 $2,633
2032 $443 $1,635 $368 $2,446
2033 $464 $1,603 $376 $2,443
2034 $488 $1,571 $383 $2,443
2035 $513 $1,536 $391 $2,440
2036 $541 $1,500 $399 $2,440
2037 $569 $1,462 $407 $2,438
2038 $601 $1,422 $415 $2,438
2039 $632 $1,380 $423 $2,436
2040 $671 $1,335 $432 $2,438
2041 $706 $1,288 $440 $2,435
2042 $748 $1,238 $449 $2,436
2043 $790 $1,186 $458 $2,434
2044 $840 $1,130 $467 $2,437
2045 $889 $1,071 $477 $2,436
2046 $942 $1,008 $486 $2,436
2047 $1,001 $942 $496 $2,439
2048 $1,061 $872 $506 $2,438
2049 $1,128 $797 $516 $2,441
2050 $1,198 $718 $526 $2,442
2051 $1,275 $633 $537 $2,445
2052 $1,356 $543 $548 $2,447
2053 $1,444 $448 $559 $2,450
2054 $1,535 $346 $570 $2,451
2055 $1,637 $238 $581 $2,456
2056 $1,746 $123 $593 $2,462
Total $23,922 $36,741 $13,540 $74,203
1The interest is calculated using an interest rate of 9.06% for years 1 through 5 (2026-2030)
and 7.04% for years 6 through 30 (2031-2056).
2Administrative Expenses are estimated and will be updated each year in the Annual Service
Plan Updates. Assumes a 2% increase per year.
Appendix H-5
Improvement Area #5 Assessment Roll by Lot Type
Parcels Lot Type 6 (40 Ft)
Assessment $21,327.66
Equivalent Unit Factor 0.74
Year Principal Interest1
Administrative
Expenses2
Total Annual
Installment
2026 $0 $0 $0 $0
2027 $116 $1,932 $298 $2,346
2028 $119 $1,922 $304 $2,344
2029 $125 $1,911 $310 $2,346
2030 $128 $1,900 $316 $2,344
2031 $138 $1,888 $322 $2,348
2032 $395 $1,457 $329 $2,181
2033 $413 $1,430 $335 $2,178
2034 $435 $1,400 $342 $2,178
2035 $457 $1,370 $349 $2,176
2036 $482 $1,338 $356 $2,176
2037 $507 $1,304 $363 $2,174
2038 $536 $1,268 $370 $2,174
2039 $564 $1,230 $377 $2,171
2040 $598 $1,191 $385 $2,174
2041 $630 $1,148 $393 $2,171
2042 $667 $1,104 $400 $2,172
2043 $705 $1,057 $408 $2,170
2044 $749 $1,008 $417 $2,173
2045 $792 $955 $425 $2,172
2046 $839 $899 $433 $2,172
2047 $893 $840 $442 $2,175
2048 $946 $777 $451 $2,174
2049 $1,005 $710 $460 $2,176
2050 $1,068 $640 $469 $2,177
2051 $1,137 $565 $479 $2,180
2052 $1,209 $484 $488 $2,182
2053 $1,287 $399 $498 $2,185
2054 $1,369 $309 $508 $2,185
2055 $1,460 $212 $518 $2,190
2056 $1,557 $110 $528 $2,195
Total $21,328 $32,757 $12,072 $66,157
1The interest is calculated using an interest rate of 9.06% for years 1 through 5 (2026-2030)
and 7.04% for years 6 through 30 (2031-2056).
2Administrative Expenses are estimated and will be updated each year in the Annual Service
Plan Updates. Assumes a 2% increase per year.
Parcel ID Total Lot Count Equivalent Units Outstanding Assessment
43124120 120 108.25 $3,119,891
43218817 6 6.00 $172,927
43124138 37 27.38 $789,123
43188179 2 1.66 $47,843
42724447 112 92.96 $2,679,215
Total 277 236.25 $6,809,000
Appendix H-6
Improvement Area #5 Assessment Roll Summary
1
VEALE RANCH DEVELOPMENT
IMPROVEMENT AREA #5 REIMBURSEMENT AGREEMENT
This Fort Worth Public Improvement District No. 22 (Veale Ranch) Improvement Area #5
Reimbursement Agreement (this Agreement) is entered into between and among the City of Fort
Worth, Texas (the City); PMB Ventana Developer South LLC, a Texas limited liability company
(the Reimbursee); and PMB SWFW Dev Co Manager LLC, a Texas limited liability company
(collectively with the Reimbursee, the Developer); to be effective as of April 28, 2026
(Effective Date). The City, the Reimbursee, and the Developer are referred to herein individually
as a Party and collectively as the Parties.
RECITALS:
WHEREAS, this Agreement is entered into pursuant to the Veale Ranch Development
Master Reimbursement Agreement, entered into by the City, the Board of Directors of Tax
Increment Reinvestment Zone Number Sixteen, City of Fort Worth, Texas, and the Original
Owners, the same being recorded with the City of Fort Worth City Secretary as City Secretary
Contract (CSC) Number 60573 (the Master Reimbursement Agreement); and
WHEREAS, the Master Reimbursement Agreement was entered into pursuant to that
certain Development Agreement, which is recorded with the Fort Worth City Secretary as CSC
No. 59003 (the Development Agreement); and
WHEREAS, PMB Ventana Developer South LLC is an Original Owner under the
Development Agreement and the Master Reimbursement Agreement;
WHEREAS, PMB SWFW Dev. Co. Manager, LLC is an affiliate of PMB SWFW Dev.
Co., LLC, which is an Original Owner under the Development Agreement and the Master
Reimbursement Agreement; and
WHEREAS, the Master Reimbursement Agreement requires (i) the Developer to submit
to the City, at least sixty (60) calendar days prior to the completion of construction of any
Authorized Improvements benefiting an Improvement Area, a complete and accurate Improvement
Area Reimbursement Agreement that provides for the reimbursement of the costs associated with
certain improvements from the proceeds of PID Bonds and/or Assessment Revenues and (ii) the
City to review such Improvement Area Reimbursement Agreement within sixty (60) calendar days
of receiving such Improvement Area Reimbursement Agreement; and
WHEREAS, this Agreement constitutes an Improvement Area Reimbursement
Agreement under the Master Reimbursement Agreement; and
WHEREAS, the City has previously created the Fort Worth Public Improvement District
No. 22 (Veale Ranch) (the District) and the Developer is requesting that the City designate
Improvement Area #5 within the District, the boundaries of which are set forth in Exhibit I (the
Improvement Area); and
WHEREAS, this Agreement is a reimbursement agreement authorized by Section
372.023(d)(1) of the PID Act;
2
AGREEMENT:
NOW, THEREFORE, in consideration of the foregoing premises, the mutual covenants
contained herein, and for such other good and valuable consideration the receipt and adequacy of
which are hereby acknowledged, the Parties agree as follows:
Section 1
Capitalized Terms; Incorporation of Master Reimbursement Agreement
(a) Capitalized terms not otherwise defined herein shall have the meanings assigned to
such terms in the Master Reimbursement Agreement. Capitalized terms not otherwise defined in
this Agreement or the Master Reimbursement Agreement shall have the meanings assigned to such
terms in the Development Agreement.
(b) Except where explicitly waived or varied herein, all of the terms of the Master
Reimbursement Agreement are hereby incorporated herein. The Developer agrees to abide by the
provisions thereof to the extent they apply to the subject matter of this Agreement as if it were a
party thereto.
Section 2
Design and Construction of Public Improvements
(a) The Developer, in accordance with its development schedule and as set forth in
Schedule A to Exhibit II, as it may be amended from time-to-time, and the provisions of the
Development Agreement, shall cause to be constructed all Authorized Improvements serving the
Improvement Area.
(b) The specific Authorized Improvements to be constructed to serve the Improvement
Area, and the Budgeted Costs therefore, are set forth on Exhibit II, together with the supporting
Engineers Report(s) are attached thereto as Schedule B. The Developer shall pay, or cause to be
paid, all costs of the Authorized Improvements, including all costs incurred in connection with
obtaining governmental approvals, certificates, permits, easements, rights-of-way, or sites required
as a part of the construction of the Authorized Improvements, including, without limitation, any
on- site or off-site mitigation costs; and all costs arising in connection with the creation of the
District.
(c) THE CITY SHALL NOT BE LIABLE TO ANY CONTRACTOR, ENGINEER,
ATTORNEY, MATERIALMAN OR OTHER PARTY EMPLOYED OR CONTRACTED WITH
IN CONNECTION WITH THE CONSTRUCTION OF THE AUTHORIZED
IMPROVEMENTS, BUT SHALL ONLY BE OBLIGATED TO ACQUIRE AND MAINTAIN
SUCH IMPROVEMENTS AND REIMBURSE THE REIMBURSEE IN THE MANNER AND
TO THE EXTENT PROVIDED HEREIN.
(d) Construction, Ownership, and Transfer of Public Improvements:
(i) Construction Plans. The Developer shall prepare, or cause to be prepared,
plans and specifications for each of the Authorized Improvements, and have
them submitted to the City for approval in accordance with this Section.
The construction plans for the Authorized Improvements shall be prepared
by a professional engineer or architect licensed in the State of Texas, at
Developers cost. Construction plans shall be in conformity with the City
3
Regulations, and State law related to the construction of horizontal and
engineered infrastructure and facilities. Upon receipt of complete
construction and/or engineering plans and corresponding fees, the City shall
review the submitted construction and/or engineering plans to determine
their compliance with applicable City Regulations, State law, this
Agreement, and the Development Agreement. In certain cases required by
statute, construction plans may be required to be submitted to other local
and state agencies for approval. The City shall provide comments to the
submitter of the construction plans, plats (including Community Facilities
Agreements), permits, Master Studies and Local Studies regarding their
compliance, addressing any areas that fail to comply with the City
Regulations, State law, this Agreement, or the Development Agreement in
accordance with the time periods established by Chapter 212 of the Texas
Local Government Code and Section 7.4 of the Development Agreement.
(ii) Contract Award. The contracts for construction of Authorized
Improvements shall be let in the name of Developer, unless otherwise
agreed by the Developer and City. Developers engineers shall prepare, or
cause to be prepared, contract specifications and necessary related
documents for the Authorized Improvements. Developer shall administer
all contracts. The Budgeted Costs of Authorized Improvements paid or
caused to be paid by Developer shall be reimbursed pursuant to the terms
of this Agreement and pursuant to the Master Reimbursement Agreement.
(iii) Construction Standards and Inspection. The Authorized Improvements
required for the full development of the Property shall be constructed in
phases, and inspected in accordance with the City Regulations. All
generally applicable fees established by the City Council, including permit
fees and inspection fees, shall be paid by Developer.
(iv) Competitive Bidding. This Agreement and construction of the Authorized
Improvements are anticipated to be exempt from competitive bidding
pursuant to Texas Local Government Code, Sections 252.022(a)(9) and
252.022(a)(11), based upon current cost estimates. In the event that the
actual costs for the Authorized Improvements do not meet the parameters
for exemption from the competitive bid requirement, then either
competitive bidding or alternative delivery methods may be utilized as
allowed by law and City ordinances. If the City participates in the cost of
the Authorized Improvements, such as when oversizing the Public
Improvements, competitive bidding may be necessary if required by State
law.
(v)Public Improvement Conveyance. All Authorized Improvements shall be
conveyed to the City free and clear of all liens. At the time of conveyance,
the Developer shall deliver to the City releases from the contractors,
subcontractors, and suppliers of materials who have provided labor and
materials for the Authorized Improvements showing they have been paid
for such labor and materials.
4
(vi) Bonds. Developer shall provide the City with an adequate financial
guarantee for all Authorized Improvements in accordance with City
Regulations and Developers contractors shall provide the City with
payment, performance and maintenance bonds for all Public Improvements
as required by the City Regulations. To the extent costs for bonds are for
Authorized Improvements, such costs shall be considered Authorized
Improvements eligible for reimbursement. To the extent bond costs are for
City oversizing, such costs shall be the responsibility of the City.
(vii) Ownership. All of the Authorized Improvements will be owned by the City
upon acceptance of them by the City. Developer will dedicate land related
to the Authorized Improvements to the City by plat or separate instrument
in accordance with the Citys standard processes for review and approval of
plats, easements, and deeds. When the completed Authorized
Improvements have been inspected by the City and determined to be
constructed in compliance with Section 2 herein, the Citys Assistant City
Manager will execute a notice of project completion, commonly referred to
as a green sheet. The notice of project completion will establish the
Authorized Improvements Costs of the complete Authorized
Improvements, as applicable, and will serve as the Citys formal acceptance
of the Authorized Improvements, lien free, in accordance with the standard
City policies applicable to such improvements, including maintenance
bonds and assignments of warranties, if any.
Section 3
Costs
3.01 Budgeted Costs.
(a) The total Budgeted Costs of the Authorized Improvements to be constructed in the
Improvement Area, as described in Exhibit II, is $5,429,728.
(i) The aggregate Authorized Improvements Outstanding Reimbursement
Amount under the Master Reimbursement Agreement shall be reduced by
the amount of the final Authorized Improvement Costs for the Improvement
Area that is the subject of this Agreement and pursuant to Section
6.01(a)(iv) of the Master Reimbursement Agreement.
(ii)The total amount to be reimbursed hereunder shall not exceed the total of
the Authorized Improvements Costs of the Authorized Improvements
actually incurred by the Developer, which includes any Cost Overruns
(Improvement Area Authorized Improvements Reimbursement Amount).
(iii)The Improvement Area Authorized Improvements Reimbursement Amount
payable to the Reimbursee shall be reduced by the costs of issuance
associated with the issuance of any PID Bonds issued pursuant to this
Agreement, including, but not limited to, any underwriters discount and
reserve fund deposits, if any, required by an applicable Indenture,
notwithstanding that such funds shall not actually be paid by the Developer.
5
For the avoidance of doubt, the costs of issuance of any PID Bonds shall be
included as Authorized Improvements and Budgeted Costs.
3.02 Reimbursement.
(a) The City shall reimburse the Reimbursee for the Authorized Improvements Costs
of the Authorized Improvements contemplated hereunder from (a) the proceeds of PID Bonds
issued in accordance with Section 4 of the Master Reimbursement Agreement, and (b) if PID
Bonds have not been issued, from Assessment Revenues in accordance with Section 3 of the
Master Reimbursement Agreement.
(b) During any period in which reimbursement is occurring incrementally from
Assessment Revenue deposited to the Assessment Reimbursement Fund, the annual installments
of the Assessments will include interest calculated at: (i) for a period of five (5) years beginning
in the year of the initial levy, five percent (5%) above the highest average index rate for tax exempt
bonds reported in a daily or weekly bond index approved by the governing body and reported in
the month before the date the obligation was incurred; and (ii) after the period described in (i), two
percent (2%) above the bond index rate described above. Following the issuance of PID Bonds,
the interest rate paid to Reimbursee on the unpaid and outstanding principal amount of the
Improvement Area Authorized Improvements Maximum Reimbursement Amount shall be equal
to the aggregate true interest cost of the initial series of PID Bonds issued for such Authorized
Improvements. Such interest shall be payable to the Developer in addition to reimbursement for
such Authorized Improvements. No interest shall accrue to any portion of the Improvement Area
Authorized Improvement Reimbursement Amount attributable to Authorized Improvements
which have not been completed. Notwithstanding the foregoing, in no event shall the interest rate
so calculated exceed the maximum rate permitted by Chapter 1204, Texas Government Code.
(c) As a condition to any reimbursement hereunder, except for reimbursements from
PID Bond proceeds at the time of closing thereof, which shall be governed in accordance with
Section 4, the Developer or the Reimbursee on the Developers behalf shall submit for approval
to the City a Certification for Payment Form for Authorized Improvements Costs, including
completed segment, section, or portion of an Authorized Improvement and any Cost Overruns
associated therewith. The Certification for Payment Form is set forth in Exhibit III and the
procedures for the submission thereof are discussed in Section 4 below.
(d) If the City requires additional documentation, or timely disapproves or questions
the correctness or authenticity of the Certification for Payment, the City shall deliver a detailed
notice to the Developer within twenty (20) business days of receipt thereof; payment with respect
to the disputed portion(s) of the Certification for Payment shall not be made until Developer and
the City have jointly settled such dispute or additional information has been provided to the Citys
reasonable satisfaction.
(e) REIMBURSEMENT UNDER THIS AGREEMENT, IS SUBJECT TO
COMPLIANCE BY THE ORIGINAL OWNER, THE REIMBURSEE, THE DEVELOPER OR
THEIR RESPECTIVE ASSIGNEE(S) WITH THE TERMS OF THIS AGREEMENT, AS SUCH
TERMS RELATE TO THE PROPERTY THAT IS THE SUBJECT MATTER OF THIS
AGREEMENT; PROVIDED, HOWEVER, THAT THE CITYS OBLIGATION TO
REIMBURSE THE ORIGINAL OWNER, THE REIMBURSEE, THE DEVELOPER OR THEIR
6
RESPECTIVE ASSIGNEES UNDER THIS AGREEMENT FOR THE AUTHORIZED
IMPROVEMENTS SERVING THE PARTICULAR IMPROVEMENT AREA THAT IS THE
SUBJECT OF THIS AGREEMENT SHALL BE ABATED, IF A PARTY TO THIS
AGREEMENT FAILS TO COMPLETE CONSTRUCTION OF THE AUTHORIZED
IMPROVEMENTS WITHIN AN IMPROVEMENT AREA NOT THE SUBJECT OF THIS
AGREEMENT AND SUCH FAILURE RENDERS IMPRACTICABLE OR INEFFECTUAL
THE USE OF THE AUTHORIZED IMPROVEMENTS THAT ARE THE SUBJECT MATTER
OF THIS AGREEMENT. SUCH ABATEMENT SHALL CONTINUE UNTIL THE
AUTHORIZED IMPROVEMENTS THAT ARE THE SUBJECT OF THIS AGREEMENT CAN
BE EFFECTIVELY UTILIZED.
Section 4
Disbursements
(a) The Parties agree that, from the proceeds of an applicable series of PID Bonds, and
upon the presentation of evidence satisfactory to the City, the City will cause the Trustee under
the applicable Indenture to pay at the closing of such PID Bonds approved amounts from the
appropriate account to the City or Reimbursee, as applicable, which amounts may include payment
for costs of issuance and payment of costs incurred in the establishment, administration and
operation of the District and any other eligible items expended by Developer or Reimbursee and
City as of the time of the delivery of such PID Bonds as described in the applicable Indenture and
the Service and Assessment Plan.
(b) In order to receive disbursements at the closing of an applicable series of PID
Bonds, Reimbursee and Developer shall execute a Closing Disbursement Request, in substantially
the form attached hereto as Exhibit IV, to be delivered to City no less than fifteen (15) business
days prior to the scheduled closing date for such PID Bonds for payment in accordance with the
provisions of the applicable Indenture.
(c) In order to receive disbursements from an Assessment Reimbursement Fund or, if
PID Bonds have been issued, disbursements from the Improvement Account following the initial
disbursement as described in Section 4(b) above, the Developer shall execute a Certification for
Payment, in substantially the form attached hereto as Exhibit III, no more frequently than
monthly, to be delivered to City for payment in accordance with the provisions of the applicable
Indenture and this Agreement.
(d) Upon receipt of a Certification for Payment or Closing Disbursement Request
(along with all accompanying documentation required by City) from the Developer, City shall
conduct a review in order to confirm that such request is complete, to confirm that the work for
which payment is requested was performed in accordance with Section 2 herein and the
Development Agreement, and to verify and approve the Authorized Improvements Costs, of such
work specified in such Certification for Payment or Closing Disbursement Request. City shall also
conduct such review as is required in its discretion to confirm the matters certified in the
Certification for Payment and Closing Disbursement Request. The Developer agrees to reasonably
cooperate with City in conducting each such review and to provide City with such additional
information and documentation as is reasonably necessary for City to conclude each such review.
(e) Not later than fifteen (15) business days following receipt of any Certification for
Payment, City shall either: (1) approve the Certification for Payment, or (2) provide Developer
7
with written notification of disapproval of all or part of a Certification for Payment, specifying the
basis for any such disapproval.
(f) Immediately upon approval of a Certification for Payment, the City shall, if PID
Bonds have been issued, forward such certification to the Trustee for payment from the
Improvement Account pursuant to the Indenture, or, if PID Bonds have not yet been issued, make
payment on such certification from the applicable Assessment Reimbursement Fund pursuant to
this Agreement. The obligation to make payment in either such case is subject to the availability
of funds in the applicable Improvement Account or Assessment Reimbursement Fund.
(g) If the City requires additional documentation, or timely disapproves or questions
the correctness or authenticity of the Certification for Payment, the City shall deliver a detailed
notice to the Developer within twenty (20) business days of receipt of such Certification for
Payment; payment with respect to the disputed portion(s) of the Certification for Payment shall
not be made until Developer and the City have jointly settled such dispute or additional information
has been provided to the Citys reasonable satisfaction.
(h) If there is a dispute over the amount of any payment, the City shall nevertheless
pay the undisputed amount to the Reimbursee, and the Parties shall use all reasonable efforts to
resolve the disputed amount before the next payment is made; however, if the Parties are unable
to resolve the disputed amount, then the Citys determination of the disputed amount (as
determined by the City Manager in his/her reasonable and good faith judgment) shall control.
(i) The Developer shall not submit a Certification for Payment or Closing
Disbursement Request requesting reimbursement for Authorized Improvements Costs in excess of
the actual Authorized Improvement Costs.
(j) Approved Certificates for Payment that await reimbursement shall not accrue
interest after the date of City approval provided payment is received within ten (10) business days.
Section 5
Limited Obligation
THE OBLIGATIONS OF THE CITY UNDER THIS AGREEMENT, SHALL NOT,
UNDER ANY CIRCUMSTANCES, GIVE RISE TO OR CREATE A CHARGE AGAINST THE
GENERAL CREDIT OR TAXING POWER OF THE CITY OR A DEBT OR OTHER
OBLIGATION OF THE CITY PAYABLE FROM ANY SOURCE OTHER THAN THE
APPLICABLE ASSESSMENT REIMBURSEMENT FUND OR IMPROVEMENT ACCOUNT.
Unless approved by the City, no other City funds, revenues, taxes or income of any kind shall be
used to pay: (1) the Authorized Improvements Costs; (2) any other reimbursable amount
hereunder; or (3) debt service on any Bonds, notwithstanding, in each case, that such amounts are
not paid in full on or before the Maturity Date. NONE OF THE CITY OR ANY OF ITS ELECTED
OR APPOINTED OFFICIALS OR ANY OF ITS OFFICERS, EMPLOYEES, CONSULTANTS
OR REPRESENTATIVES SHALL INCUR ANY LIABILITY HEREUNDER TO DEVELOPER
OR ANY OTHER PARTY IN THEIR INDIVIDUAL CAPACITIES BY REASON OF THIS
AGREEMENT OR THEIR ACTS OR OMISSIONS UNDER THIS AGREEMENT, EXCEPT IN
THE EVENT OF GROSS NEGLIGENCE OR WILLFUL MISCONDUCT COMMITTED BY
ANY SUCH PARTIES.
8
Section 6
Obligation to Pay
If, as to the property which makes up the Improvement Area described in Exhibit I that is
the subject of this Agreement, each of the applicable Developer and Reimbursee (1) is current on
the payment of all taxes, assessments and fees owed to City, (2) is in then-current compliance with
its obligations under: (a) this Agreement, (b) all Developer continuing disclosure agreements in
the District, (c) the Master Reimbursement Agreement, and (d) the Development Agreement, and
(3) has received no notice of any material default as to such property under the foregoing
agreements that remains uncured; then, following the inspection and approval of any portion of
Authorized Improvements for which Reimbursee seeks reimbursement of Authorized
Improvements Costs by submission of a Certificate for Payment or Closing Disbursement Request,
the obligations of the City under this Agreement to (i) pay, disbursements identified in any
Certificate for Payment or Closing Disbursement Request, and (ii) pay debt service on PID Bonds,
are unconditional and not subject to any defenses or rights of offset except as may be provided in
any Indenture.
Section 7
Representations.
(a) Developer hereby represents to City that:
(i) The execution and delivery of this Agreement and the transactions
contemplated hereby have been duly authorized by Developer;
(ii)This Agreement, the representations and covenants contained herein, and
the consummation of the transactions contemplated hereby shall not violate
or constitute a breach of any contract or other agreement to which
Developer is a party; and
(iii) Developer has the financial resources, or the ability to obtain sufficient
financial resources, to satisfy and comply with Developers obligations
under this Agreement.
(b) The City represents and warrants that this Agreement has been approved by official
action of the City Council in accordance with all applicable public notice requirements (including,
but not limited to, notices required by the Texas Open Meetings Act) and that the individual
executing this Agreement on behalf of the City has been and is duly authorized to do so.
Section 8
Audit
The City and the Developer will comply with the provisions of Section 8 of the Master
Reimbursement Agreement.
Section 9
Indemnity.
DEVELOPER SHALL INDEMNIFY AND HOLD CITY HARMLESS FROM AND
AGAINST ALL LOSSES, COSTS, DAMAGES, EXPENSES, AND LIABILITIES (HEREIN
COLLECTIVELY REFERRED TO AS LOSSES) OF WHATSOEVER NATURE,
9
INCLUDING, BUT NOT LIMITED TO, REASONABLE ATTORNEYS FEES, COSTS OF
LITIGATION, COURT COSTS, AMOUNTS PAID IN SETTLEMENT AND AMOUNTS PAID
TO DISCHARGE JUDGMENTS RELATING TO ANY CLAIM, LAWSUIT, CAUSE OF
ACTION OR OTHER LEGAL ACTION OR PROCEEDING BROUGHT AGAINST CITY OR
TO WHICH CITY MAY BE A PARTY, DIRECTLY OR INDIRECTLY RESULTING FROM,
ARISING OUT OF, OR RELATING TO THE ACQUISITION, PURCHASE OR
CONSTRUCTION OF THE AUTHORIZED IMPROVEMENTS PRIOR TO THE ISSUANCE
OF ANY APPLICABLE MAINTENANCE BOND. IN THE EVENT OF ANY ACTION
BROUGHT AGAINST CITY IN WHICH INDEMNIFICATION BY DEVELOPER IS
APPLICABLE, CITY SHALL PROMPTLY GIVE WRITTEN NOTICE TO DEVELOPER AND
DEVELOPER SHALL ASSUME THE INVESTIGATION AND DEFENSE OF SUCH ACTION,
INCLUDING THE EMPLOYMENT OF COUNSEL AND THE PAYMENT OF ALL
EXPENSES RELATED THERETO. CITY SHALL HAVE THE RIGHT, AT CITYS EXPENSE,
TO EMPLOY SEPARATE COUNSEL AND TO PARTICIPATE IN THE INVESTIGATION
AND DEFENSE OF ANY SUCH ACTION. DEVELOPER SHALL NOT BE LIABLE FOR THE
SETTLEMENT OF ANY SUCH ACTION MADE BY CITY WITHOUT THE CONSENT OF
DEVELOPER; PROVIDED, HOWEVER, IN THE EVENT OF ANY SETTLEMENT
ENTERED INTO WITH THE CONSENT OF DEVELOPER OR OF ANY FINAL JUDGMENT
FOR A PLAINTIFF IN ANY SUCH ACTION, DEVELOPER SHALL INDEMNIFY AND
HOLD CITY HARMLESS FROM AND AGAINST ANY LOSSES INCURRED BY REASON
OF SUCH SETTLEMENT OR JUDGMENT. THE EXPIRATION OF THE TERM OF THIS
AGREEMENT SHALL NOT RELIEVE DEVELOPER FROM ANY LIABILITY HEREUNDER
ARISING PRIOR TO THE EXPIRATION OF THIS AGREEMENT; PROVIDED HOWEVER,
THIS INDEMNITY PROVISION SHALL NOT APPLY TO THE EXTENT OF ANY GROSS
NEGLIGENCE, WILLFUL MISCONDUCT OR UNLAWFUL ACTIONS OF THE CITY.
Section 10
Conflict
10.01 This Agreement constitutes the entire agreement between the Parties with respect
to the subject matter herein, and supersedes all prior agreements, whether oral or written. In the
event of any conflict between the terms of this Agreement, the Master Reimbursement Agreement,
the Development Agreement, the SAP, and the terms of the proceedings authorizing the issuance
of PID Bonds, the conflicting provisions will be construed to the extent possible to give effect to
each. Except where otherwise expressly stated in this Agreement, in the event such conflicting
provisions cannot be reconciled to give all such provisions effect, then the order or priority set
forth below will govern:
(a) The terms of the proceedings authorizing the issuance of PID Bonds, including the
applicable indenture, governs over everything else.
(b) As it pertains to the District, the SAP governs over this Agreement.
(c) This Agreement governs over the Master Reimbursement Agreement.
(d) The Master Reimbursement Agreement governs over the Development Agreement.
10
Section 11
Events of Default and Remedies
11.01 Events of Default.
No Party shall be in default under this Agreement until notice of the alleged failure of such
Party to perform, the nature of which is reasonably detailed, has been given in writing as provided
in Section 11.04; however, that the Party receiving such notice must commence curing such
alleged failure no later than thirty (30) days from the date of notice and thereafter diligently and
continuously pursues performance until the alleged failure has been cured.
11.02 Original Owner/Developer/Reimbursee Default.
(a) Each of the following events shall be an Event of Default under this Agreement.
(i) An Original Owner or its Assignee is in Default pursuant to Section 14.2 of
the Development Agreement;
(ii) An Original Owner, the Developer, and/or their Assignee(s) is in default
under the terms of the Master Reimbursement Agreement;
(iii)The Developer, the Reimbursee and/or or their Assignee(s) is in default
under the terms of this Agreement; and
(iv) Such party fails to comply in any material respect with any term, provision,
or covenant of this Agreement, the Development Agreement, or the Master
Reimbursement Agreement, as applicable, and does not cure such default
in accordance with Section 11.01.
11.03 City Default.
(a) Each of the following events shall be an Event of Default by the City under this
Agreement:
(i) So long as the applicable Party has complied with the terms and provisions
of this Agreement and is not in default under Section 11.01, the City fails
to pay to such Party any monetary sum hereby required of it as and when
the same become due and payable and does not cure such default in
accordance with Section 11.01;
(ii) The City is in default pursuant to Section 14.3 of the Development
Agreement;
(iii) The City is in default under the terms of Master Reimbursement Agreement;
and
(iv) The City fails to comply in any material respect with any term, provision,
or covenant of this Agreement, the Development Agreement, or the Master
Reimbursement Agreement other than the payment of money, and does not
cure such default in accordance with Section 11.01.
11
11.04 Remedies.
IF A PARTY IS IN DEFAULT, THE AGGRIEVED PARTY MAY, AT ITS OPTION
AND WITHOUT PREJUDICE TO ANY OTHER RIGHT OR REMEDY UNDER THIS
AGREEMENT, SEEK ANY RELIEF AVAILABLE AT LAW OR IN EQUITY, INCLUDING,
BUT NOT LIMITED TO, AN ACTION UNDER THE UNIFORM DECLARATORY
JUDGMENT ACT, SPECIFIC PERFORMANCE, MANDAMUS, AND INJUNCTIVE RELIEF.
NOTWITHSTANDING THE FOREGOING, HOWEVER, NO DEFAULT UNDER THIS
AGREEMENT SHALL:
(a) Entitle the aggrieved Party to terminate this Agreement, the Development
Agreement or the Master Reimbursement Agreement, unless specifically provided in such
agreement.
(b) Entitle the aggrieved Party to suspend performance under this Agreement, other
than the Citys obligation to make reimbursement payments for a specific Improvement Area only
(except as otherwise set forth in Section 3.02(e)), unless the portion of the Property for which
performance is suspended is the subject of the default (for example, the City shall not be entitled
to suspend its performance with regard to the development of Tract X by Owner A based on
the grounds that Owner A is in default with respect to any other tract or that Owner B is in
default).
11.05 No Liability for Actions of Others.
Except as expressly set forth in this Agreement: (i) the liabilities, obligations and
responsibilities of each Original Owner, the Developer, or authorized Assignee under this
Agreement are several, and not joint; and (ii) no Original Owner, the Developer, or Assignee, of
any portion of the Property will be in default under this Agreement or otherwise liable or
responsible for any default which is not caused by such Original Owner or the Developer by any
person acting by, through or under such Original Owner, the Developer, or Assignee.
Section 12
MISCELLANEOUS
12.01 Assignment.
(a) This Agreement is binding upon and inures to the benefit of the Original Owners,
the Developer, and their Assignees. The Original Owners, the Developer, or their Assignee may
assign their obligations, rights, or covenants without the prior written consent of, but upon Notice
to, the City, as provided in Section 12.02.
(b) Each assignment must be in writing and executed by the Original Owner or the
Developer, and the Assignee, and obligate the Assignee to be bound by this Agreement to the
extent rights and obligations under this Agreement are being assigned. Such assignment will not
be effective until Notice thereof is provided to the City in accordance with Section 12.02. No
assignment by an Original Owner or the Developer will release such Party from any liability that
resulted from an act or omission by such Party that occurred prior to the effective date of the
assignment, unless the City approves the release in writing. From and after such assignment, the
City agrees to look solely to the Assignee for the performance of all obligations assigned to the
12
Assignee, and agrees that such Assignor will be released from subsequently performing the
assigned obligations and from any liability that results from the Assignees failure to perform the
assigned obligations.
(c) Encumbrance by Original Owner and Assignee. Each Original Owner, Developer,
and Assignee, has the right, from time to time, to collaterally assign, pledge, grant a lien or security
interest in, or otherwise encumber any of its rights, title, or interest under this Agreement for the
benefit of its lenders without the consent of, but with written Notice to, the City. The collateral
assignment, pledge, grant of lien or security interest, or other encumbrance does not, however,
obligate any lender to perform any obligations or incur any liability under this Agreement, unless
the lender agrees in writing to perform such obligations or incur such liability. Provided the City
has been given a copy of the documents creating the lenders interest, including Notice information
for the lender, then that lender has the right, but not the obligation, to cure any default under this
Agreement and be given a reasonable time to do so in addition to the cure periods otherwise
provided to the defaulting Party by this Agreement; and the City agrees to accept a reasonable
cure, offered by the lender as if offered by the defaulting Party. A lender is not a party to this
Agreement unless this Agreement is amended, with the consent of the lender, to add the lender as
a Party. Notwithstanding the foregoing, however, this Agreement will continue to bind the
Property and survive any transfer, conveyance, or assignment occasioned by the exercise of
foreclosure or other rights by a lender, whether judicial or non-judicial. Any purchaser from or
successor Owner through a lender of any portion of the Property will be bound by this Agreement
and will not be entitled to the rights and benefits of this Agreement with respect to the acquired
portion of the Property until all defaults under this Agreement with respect to the acquired portion
of the Property have been cured.
(d) Assignees as Parties. An Assignee authorized in accordance with this Agreement
will be considered a Party for the purposes of this Agreement, but only to the extent of the rights
obligations and benefits assigned. With the exception of an End Buyer, any person or entity, upon
becoming an owner of land within the Property or upon obtaining an ownership interest in any part
of the Property, will be deemed to be a Developer of such Property and have all of the obligations
of a Developer as set forth in this Agreement and all related documents to the extent of said
ownership or ownership interest, but such Developer will not be entitled to any reimbursements
for any Public Improvements, unless such right has been assigned as provided herein.
12.02 Notices.
(a) Any notice, submittal, payment, or instrument required or permitted by this
Agreement to be given or delivered to any party shall be deemed to have been received when
personally delivered or 72 hours following deposit of the same in any United States Post Office,
registered or certified mail, postage prepaid, and addressed as follows:
To the City: City of Fort Worth, Texas
Attn: City Manager
100 Fort Worth Trail
Fort Worth, Texas 76102
With a copy to:
City of Fort Worth
Attn: City Attorney
100 Fort Worth Trail
13
Fort Worth Texas, 76102
To Reimbursee: PMB Ventana Developer South LLC
Attn: Taylor Baird
4001 Maple Avenue, Suite 270
Dallas, TX 75219
With a copy to:
Coats Rose
Attn: Tim Green
9 Greenway Plaza, Suite 1000
Houston, TX 77046
To Developer: PMB Ventana South LLC
Attn: Taylor Baird
4001 Maple Avenue, Suite 270
Dallas, TX 75219
PMB SWFW Dev Co Manager LLC
Attn: Taylor Baird
4001 Maple Avenue, Suite 270
Dallas, TX 75219
With a copy to:
Coats Rose
Attn: Tim Green
9 Greenway Plaza, Suite 1000
Houston, TX 77046
(b) Any Party may change its address or addresses for delivery of Notice by delivering
written Notice of such change of address to the other Parties.
12.03 Interpretation.
The Parties acknowledge that each has been actively involved in negotiating this
Agreement. Accordingly, the rule of construction that any ambiguities are to be resolved against
the drafting Party will not apply to interpreting this Agreement. In the event of any dispute over
the meaning or application of any provision of this Agreement, the provision will be interpreted
fairly and reasonably and neither more strongly for nor against any Party, regardless of which Party
originally drafted the provision.
12.04 Severability.
This Agreement shall not be modified or amended except as provided herein. If any
provision of this Agreement is determined by a court of competent jurisdiction to be unenforceable
for any reason, then: (a) such unenforceable provision shall be deleted from this Agreement; (b)
the unenforceable provision shall, to the extent possible and upon mutual agreement of the Parties,
be rewritten to be enforceable and to give effect to the intent of the Parties; and (c) the remainder
of this Agreement shall remain in full force and effect and shall be interpreted to give effect to the
intent of the Parties.
14
12.05 Applicable Law; Venue.
This Agreement is entered into pursuant to, and is to be construed and enforced in
accordance with, the laws of the State of Texas, and all obligations of the Parties are performable
in the county in which the subject property is located. Exclusive venue for any action related to,
arising out of, or brought in connection with this Agreement shall be in Tarrant County, Texas or
the United States District Court for the Northern District of Texas Fort Worth Division.
12.06 Non-Waiver.
Any failure by a Party to insist upon strict performance by any other Party of any material
provision of this Agreement shall not be deemed a waiver thereof, and the Party shall have the
right at any time thereafter to insist upon strict performance of any and all provisions of this
Agreement. No provision of this Agreement may be waived except in writing signed by the Party
waiving such provision. Any waiver shall be limited to the specific purposes for which it is given.
No waiver by any Party of any term or condition of this Agreement shall be deemed or construed
to be a waiver of any other term or condition or subsequent waiver of the same term or condition.
12.07 Sovereign Immunity.
The City does not waive or surrender any of its governmental powers, immunities or rights
except as necessary to allow Developer to enforce its remedies under this Agreement, which may
include the Developers ability to assert this Agreement is considered an agreement for the
provision of goods and services, as provided in Texas Local Government Code, Section 271.151.
12.08 Further Documents.
Each Party shall, upon request of any other Party, execute and deliver such further
documents and perform such further acts as may reasonably be requested to effectuate the terms
of this Agreement and achieve the intent of the Parties.
12.09 Amendment.
This Agreement shall not be modified or amended except in writing signed by the Parties
hereto. If any provision of this Agreement is determined by a court of competent jurisdiction to be
unenforceable for any reason, then: (a) such unenforceable provision shall be deleted from this
Agreement; (b) the unenforceable provision shall, to the extent possible, be rewritten to be
enforceable and to give effect to the intent of the Parties; and (c) the remainder of this Agreement
shall remain in full force and effect and shall be interpreted to give effect to the intent of the Parties.
12.10 Authority; Enforceability.
The City represents and warrants that this Agreement has been approved by appropriate
official action and that the individual executing this Agreement on behalf of the City has been and
is duly authorized to do so. The Reimbursee and the Developer each hereby represents and
warrants that this Agreement has been approved by appropriate action of such Party, and that each
individual executing this Agreement on behalf of such Party has been and is duly authorized to do
so. Each Party to this Agreement respectively acknowledges and agrees that this Agreement is
binding upon such Party and is enforceable against such Party, in accordance with its terms and
conditions and to the extent permitted by law.
15
12.11 Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be
deemed an original and constitute one and the same instrument. Delivery of an executed
counterpart of a signature page of this Agreement by telecopy or other electronic imaging means
shall be effective as delivery of a manually executed counterpart of this Agreement.
12.12 City Council Exercise of Legislative Discretion.
Notwithstanding any other provisions hereof, nothing in this Agreement shall be construed
as a contractual obligation that controls, waives or supplements the City Councils legislative
discretion relative to the subject matter herein.
12.13 Force Majeure.
Each Party shall use good faith, due diligence and reasonable care in the performance of
its respective obligations under this Agreement, and time shall be of the essence in such
performance. However, in the event a Party is unable, due to Force Majeure, to perform its
obligations under this Agreement, then the obligations affected by the Force Majeure shall be
temporarily suspended. Within thirty (30) days after the occurrence of a Force Majeure, the Party
claiming the right to temporarily suspend its performance shall give Notice to all Parties, including
a detailed explanation of the Force Majeure and a description of the action that will be taken to
remedy the Force Majeure and resume full performance at the earliest possible time. As used
herein, Force Majeure means, and shall include without limitation, acts of God; strikes; lockouts;
or other industrial disturbances; acts of a public enemy; acts or orders of any kind of the
Government of the United States or the State of Texas, or any civil or military authority;
insurrection; riots; epidemics; pandemics; quarantine; viral outbreaks; landslides; lightning;
earthquake; fires; hurricanes; tornadoes; storms; floods; washouts; droughts; arrests; restraint of
government and people; civil disturbances; explosions; breakage or accidents to machinery,
pipelines, or canals; partial or entire failure of water supply; or other acts, events, causes, or
circumstances not within the reasonable control of the Party claiming such inability and that could
not have been avoided by such Party with the exercise of good faith, due diligence, and reasonable
care.
12.14 Statutory Verifications.
Each of the Developer and Reimbursee hereby makes the following representation and
covenant to enable the City to comply with Chapters 2252, 2271, 2274, and 2276, Texas
Government Code, as heretofore amended (the "Government Code"), in entering into this
Agreement. As used in such verifications, "affiliate" means an entity that controls, is controlled
by, or is under common control with the Developer and/or Reimbursee within the meaning of SEC
Rule 405, 17 C.F.R. § 230.405, and exists to make a profit. Liability for breach of any such
verification prior to the expiration or earlier termination of this Agreement shall survive until
barred by the applicable statute of limitations, and shall not be liquidated or otherwise limited by
any provision of this Agreement, notwithstanding anything in this Agreement to the contrary.
(a)Not a Sanctioned Company. Each of the Developer and Reimbursee hereby
represents that neither it nor any of its parent company, wholly- or majority-owned subsidiaries,
and other affiliates is a company identified on a list prepared and maintained by the Texas
Comptroller of Public Accounts under Section 2252.153 or Section 2270.0201, Government Code.
16
The foregoing representation excludes the Developer and/or Reimbursee and each of their parent
companies, wholly- or majority-owned subsidiaries, and other affiliates, if any, that the United
States government has affirmatively declared to be excluded from its federal sanctions regime
relating to Sudan or Iran or any federal sanctions regime relating to a foreign terrorist organization.
(b) No Boycott of Israel. Each of the Developer and Reimbursee hereby verifies that
it and its parent company, wholly- or majority-owned subsidiaries, and other affiliates, if any, do
not boycott Israel and will not boycott Israel during the term of this Agreement. As used in the
foregoing verification, "boycott Israel" has the meaning provided in Section 2271.001,
Government Code.
(c) No Discrimination Against Firearm Entities. Each of the Developer and
Reimbursee hereby verifies that it and its parent company, wholly- or majority-owned subsidiaries,
and other affiliates, if any, do not have a practice, policy, guidance, or directive that discriminates
against a firearm entity or firearm trade association and will not discriminate against a firearm
entity or firearm trade association during the term of this Agreement. As used in the foregoing
verification, "discriminate against a firearm entity or firearm trade association" has the meaning
provided in Section 2274.001(3), Government Code.
(d) No Boycott of Energy Companies. Each of the Developer and Reimbursee hereby
verifies that it and its parent company, wholly- or majority-owned subsidiaries, and other affiliates,
if any, do not boycott energy companies and will not boycott energy companies during the term of
this Agreement. As used in the foregoing verification, "boycott energy companies" has the
meaning provided in Section 2276.001(1), Government Code.
12.15 Attorney General Standing Letter.
Each of the Developer and Reimbursee hereby represents that it has on file with the
Attorney General a standing letter addressing the representations and verifications in Section 12.14
of this Agreement in a form acceptable to the Attorney General. In addition, if the Developer
and/or Reimbursee or the parent company, a wholly- or majority-owned subsidiary or another
affiliate of the Developer and/or Reimbursee receives or has received a letter from the Texas
Comptroller of Public Accounts pursuant to Chapter 809, Texas Government Code seeking written
verification that it does not boycott energy companies (a "Comptroller Request Letter"), the
Developer and/or Reimbursee shall promptly notify the City (if it has not already done so) and
provide to the City, two business days prior to the closing date for a series of PID Bonds and
additionally upon request by the City, written verification to the effect that its standing letter
described in the preceding sentence remains in effect and may be relied upon by the City and the
Attorney General (the "Bringdown Verification"). The Bringdown Verification shall also confirm
that the Developer and/or Reimbursee (or the parent company, a wholly- or majority-owned
subsidiary or other affiliate of the Developer and/or Reimbursee that received the Comptroller
Request Letter) intends to timely respond or has timely responded to the Comptroller Request
Letter. The Bringdown Verification may be in the form of an e-mail.
12.16 Compliance with Laws
The Parties agrees that, in the performance of its obligations hereunder, it will comply with
all applicable federal, state and local laws, ordinances, rules and regulations.
12.17 Electronic Signatures
17
This Agreement may be executed by electronic signature, which will be considered as an
original signature for all purposes and have the same force and effect as an original signature. For
these purposes, electronic signature means electronically scanned and transmitted versions (e.g.
via pdf file or facsimile transmission) of an original signature, or signatures electronically inserted
via software such as Adobe Sign.
12.18 Headings Not Controlling
Headings and titles used in this Agreement are for reference purposes only and will not be
deemed a part of this Agreement.
[Signature Page Follows]
18
EXECUTED BY THE PARTIES TO BE EFFECTIVE ON THE EFFECTIVE DATE:
CITY OF FORT WORTH, TEXAS
By: _____________________________________
Name:___________________________________
Title: Assistant City Manager
Date:____________________________________
ATTEST:
By: _________________________________
Name:_______________________________
Title: City Secretary
APPROVED AS TO FORM AND LEGALITY:
By: __________________________________
Name:________________________________
Title: Assistant City Attorney
THE STATE OF TEXAS §
COUNTY OF TARRANT §
This instrument was acknowledged before me on the day _______ of
____________________, 2026, by _______________________________, the Assistant City
Manager of the City of Fort Worth, Texas, on behalf of said City.
(SEAL)
______________________________________
Notary Public, State of Texas
19
DEVELOPER:
PMB VENTANA DEVELOPER SOUTH LLC,
a Texas limited liability company
By: PMB Ventana Developer LLC,
a Texas limited liability company,
its Manager
By: PB Ventana Manager, LLC,
a Texas limited liability company,
its Manager
By: ________________________
Name: K. Taylor Baird
Title: Manager
THE STATE OF TEXAS §
COUNTY OF TARRANT §
This instrument was acknowledged before me on the day _______ of ________________,
2026, by K. Taylor Baird of PMB Ventana Developer LLC, a Texas limited liability company, in
its capacity as Manager of PMB VENTANA DEVELOPER SOUTH LLC, a Texas limited liability
company, on behalf of said limited liability company.
(SEAL)
______________________________________
Notary Public, State of Texas
20
DEVELOPER:
PMB SWFW DEV CO MANAGER LLC, a
Texas limited liability company
By:_____________________________________
Name: __________________________________
Title: ___________________________________
THE STATE OF TEXAS §
COUNTY OF TARRANT §
This instrument was acknowledged before me on the day _______ of ________________,
2026, by ____________________________, _______________________ of PMB SWFW DEV
CO MANAGER LLC, a Texas limited liability company, on behalf of said limited liability
company.
(SEAL)
______________________________________
Notary Public, State of Texas
21
DEVELOPER:
PMB VENTANA DEVELOPER SOUTH LLC,
a Texas limited liability company
By: PMB Ventana Developer LLC,
a Texas limited liability company,
its Manager
By: PB Ventana Manager, LLC,
a Texas limited liability company,
its Manager
By: ________________________
Name: K. Taylor Baird
Title: Manager
THE STATE OF TEXAS §
COUNTY OF TARRANT §
This instrument was acknowledged before me on the day _______ of ________________,
2026, by ____________________________, _______________________ of PMB VENTANA
DEVELOPER SOUTH LLC, a Texas limited liability company, on behalf of said limited liability
company.
(SEAL)
______________________________________
Notary Public, State of Texas
22
Exhibit I
Legal Description of Improvement Area #5
BEING A 72.059-ACRE TRACT OF LAND SITUATED IN THE T. F. ROGERS SURVEY,
ABSTRACT NO. 1357 AND THE WILLIAM ATKINS SURVEY, ABSTRACT NO. 1961,
CITY OF FORT WORTH, TARRANT COUNTY, TEXAS, AND BEING A PORTION OF
THOSE TRACTS OF LAND DESCRIBED TO PMB VENTANA DEVELOPER SOUTH LLC
BY DEED RECORDED IN COUNTY CLERK FILE NOS. D221026481 (HEREINAFTER
REFERRED TO AS PMB VENTANA TRACT 1) AND D224176443 (HEREINAFTER
REFERRED TO AS PMB VENTANA TRACT 2), OFFICIAL PUBLIC RECORDS OF
TARRANT COUNTY, TEXAS, AND BEING ALL OF THAT TRACT OF LAND
DESCRIBED TO PHDFW-VENTANA 36 LLC BY DEED RECORDED IN COUNTY CLERK
FILE NO. D224169598 OF SAID OFFICIAL PUBLIC RECORDS AND BEING ALL OF
THAT TRACT OF LAND DESCRIBED TO AMERICAN LEGEND LOT HOLDINGS LLC
BY DEED RECORDED IN COUNTY CLERK FILE NO. D224123917 OF SAID OFFICIAL
PUBLIC RECORDS AND BEING MORE PARTICULARLY DESCRIBED BY METES AND
BOUNDS AS FOLLOWS:
BEGINNING AT A 5/8-INCH CAPPED IRON ROD STAMPED JACOBS FOUND FOR
THE WEST COMMON CORNER OF SAID PMB VENTANA TRACT 1 AND A TRACT OF
LAND DESCRIBED TO FW CLUB LP BY DEED RECORDED IN COUNTY CLERK FILE
NO. D224085431 OF SAID OFFICIAL PUBLIC RECORDS;
THENCE NORTH 00°3229 WEST, WITH THE WEST LINE OF SAID PMB VENTANA
TRACT 1, A DISTANCE OF 1074.43 FEET TO A 5/8-INCH CAPPED IRON ROD
STAMPED LJA SURVEYING SET (HEREINAFTER REFERRED TO AS IRON ROD
SET) FOR THE SOUTHEAST CORNER OF SAID PMB VENTANA TRACT 2;
THENCE NORTH 29°0122 WEST, WITH THE SOUTHWESTERLY LINE OF SAID PMB
VENTANA TRACT 2, A DISTANCE OF 310.00 FEET TO AN IRON ROD SET;
THENCE OVER AND ACROSS SAID PMB VENTANA TRACT 2, THE FOLLOWING
COURSES AND DISTANCES: NORTH 60°5838 EAST, A DISTANCE OF 60.00 FEET TO
AN IRON ROD SET;
NORTH 29°0122 WEST, A DISTANCE OF 125.00 FEET TO AN IRON ROD SET;
NORTH 60°5838 EAST, A DISTANCE OF 176.00 FEET TO AN IRON ROD SET ON THE
WEST LINE OF SAID PMB VENTANA TRACT 1;
THENCE NORTH 00°3229 WEST, WITH SAID WEST LINE, A DISTANCE OF 341.31
FEET TO A 5/8-INCH CAPPED IRON ROD STAMPED JACOBS FOUND FOR THE
SOUTHWEST CORNER OF LOT 18, BLOCK 26, VENTANA, PHASE 5A, AN ADDITION
TO THE CITY OF FORT WORTH, TARRANT COUNTY, TEXAS, AS SHOWN BY PLAT
23
RECORDED IN COUNTY CLERK FILE NO. D221277917, PLAT RECORDS OF TARRANT
COUNTY, TEXAS;
THENCE NORTH 60°5838 EAST, WITH THE NORTHERLY LINE OF SAID PMB
VENTANA TRACT 1, A DISTANCE OF 604.61 FEET TO A 5/8-INCH CAPPED IRON ROD
STAMPED LJA SURVEYING FOUND (HEREINAFTER REFERRED TO AS CAPPED
IRON ROD FOUND ON THE SOUTHWEST RIGHT-OF-WAY LINE OF EMBARGO
ROAD (A 50-FOOT WIDE RIGHT-OF-WAY), SAME BEING THE NORTHWEST CORNER
OF VENTANA, PHASE 6A-1, AN ADDITION TO THE CITY OF FORT WORTH,
TARRANT COUNTY, TEXAS, AS SHOWN BY PLAT RECORDED IN COUNTY CLERK
FILE NO. D222166626 OF SAID PLAT RECORDS;
THENCE WITH SAID SOUTHWEST RIGHT-OF-WAY LINE, THE FOLLOWING
COURSES AND DISTANCES: SOUTH 29°0122 EAST, A DISTANCE OF 535.00 FEET TO
A CAPPED IRON ROD FOUND;
SOUTH 15°5838 WEST, A DISTANCE OF 14.14 FEET TO A CAPPED IRON ROD
FOUND; SOUTH 29°0122 EAST, A DISTANCE OF 50.00 FEET TO A CAPPED IRON
ROD FOUND; SOUTH 74°0122 EAST, A DISTANCE OF 14.14 FEET TO A CAPPED
IRON ROD FOUND; SOUTH 29°0122 EAST, A DISTANCE OF 230.00 FEET TO A
CAPPED IRON ROD FOUND; SOUTH 15°5838 WEST, A DISTANCE OF 14.14 FEET TO
A CAPPED IRON ROD FOUND; SOUTH 29°0122 EAST, A DISTANCE OF 50.00 FEET
TO A CAPPED IRON ROD FOUND; SOUTH 74°0122 EAST, A DISTANCE OF 14.14
FEET TO A CAPPED IRON ROD FOUND;
SOUTH 29°0122 EAST, A DISTANCE OF 1.92 FEET TO A CAPPED IRON ROD FOUND
FOR THE BEGINNING OF A CURVE TO THE LEFT HAVING A RADIUS OF 1525.00
FEET AND A CHORD THAT BEARS SOUTH 33°1056 EAST, 221.22 FEET;
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 8°1908, AN
ARC-DISTANCE OF 221.42 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 37°2030 EAST, A DISTANCE OF 40.91 FEET TO A CAPPED IRON ROD
FOUND; SOUTH 07°0949 WEST, A DISTANCE OF 14.26 FEET TO A CAPPED IRON
ROD FOUND; SOUTH 37°2030 EAST, A DISTANCE OF 50.01 FEET TO A CAPPED
IRON ROD FOUND; SOUTH 82°5011 EAST, A DISTANCE OF 14.02 FEET TO A
CAPPED IRON ROD FOUND; SOUTH 37°2030 EAST, A DISTANCE OF 168.42 FEET TO
A CAPPED IRON ROD FOUND; SOUTH 10°0750 WEST, A DISTANCE OF 13.52 FEET
TO A CAPPED IRON ROD FOUND; SOUTH 31°5759 EAST, A DISTANCE OF 60.00
FEET TO A CAPPED IRON ROD FOUND; NORTH 57°4839 EAST, A DISTANCE OF 5.64
FEET TO A CAPPED IRON ROD FOUND;
SOUTH 80°0428 EAST, A DISTANCE OF 14.69 FEET TO A CAPPED IRON ROD FOUND
FOR THE WEST COMMON CORNER OF SAID VENTANA PHASE 6A-1 ADDITION AND
24
VENTANA, PHASE 6B, AN ADDITION TO THE CITY OF FORT WORTH, TARRANT
COUNTY, TEXAS, AS SHOWN BY PLAT RECORDED IN COUNTY CLERK FILE NO.
D224076545 OF SAID PLAT RECORDS;
THENCE WITH THE SOUTHWESTERLY LINE OF SAID VENTANA PHASE 6B, THE
FOLLOWING COURSES AND DISTANCES:
SOUTH 37°2030 EAST, A DISTANCE OF 110.29 FEET TO A CAPPED IRON ROD
FOUND; SOUTH 09°3450 WEST, A DISTANCE OF 13.66 FEET TO A CAPPED IRON
ROD FOUND;
SOUTH 33°0944 EAST, A DISTANCE OF 50.00 FEET TO A CAPPED IRON ROD FOUND
FOR THE SOUTHWEST CORNER OF SAID VENTANA PHASE 6B ADDITION ON THE
NORTH LINE OF SAID AMERICAN LEGEND LOT HOLDINGS LLC TRACT;
THENCE WITH THE NORTHWESTERLY LINE OF SAID AMERICAN LEGEND LOT
HOLDINGS LLC TRACT, THE FOLLOWING COURSES AND DISTANCES:
NORTH 56°4320 EAST, A DISTANCE OF 3.65 FEET TO A CAPPED IRON ROD FOUND;
SOUTH 80°3133 EAST, A DISTANCE OF 14.58 FEET TO A CAPPED IRON ROD
FOUND; NORTH 54°2323 EAST, A DISTANCE OF 50.02 FEET TO A CAPPED IRON
ROD FOUND;
NORTH 07°3426 EAST, A DISTANCE OF 14.16 FEET TO A CAPPED IRON ROD
FOUND FOR THE BEGINNING OF A NON-TANGENT CURVE TO THE LEFT HAVING A
RADIUS OF 905.00 FEET AND A CHORD THAT BEARS NORTH 50°0334 EAST, 66.76
FEET;
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 4°1338, AN
ARC-DISTANCE OF 66.77 FEET TO A CAPPED IRON ROD FOUND;
NORTH 47°5645 EAST, A DISTANCE OF 33.43 FEET TO A CAPPED IRON ROD
FOUND FOR THE NORTHEAST CORNER OF SAID AMERICAN LEGEND LOT
HOLDINGS LLC TRACT, SAME BEING A REENTRANT CORNER OF SAID VENTANA
PHASE 6B ADDITION;
THENCE WITH THE SOUTHWESTERLY LINE OF SAID VENTANA PHASE 6B, THE
FOLLOWING COURSES AND DISTANCES:
SOUTH 37°2030 EAST, A DISTANCE OF 565.64 FEET TO A CAPPED IRON ROD
FOUND; NORTH 52°3930 EAST, A DISTANCE OF 105.00 FEET TO A CAPPED IRON
ROD FOUND;
25
SOUTH 37°2030 EAST, A DISTANCE OF 153.02 FEET TO A CAPPED IRON ROD
FOUND FOR THE SOUTHWEST CORNER OF SAID VENTANA PHASE 6B ADDITION
ON THE NORTHWESTERLY LINE OF SAID FW CLUB LP TRACT;
THENCE WITH SAID NORTHWESTERLY LINE, THE FOLLOWING COURSES AND
DISTANCES:
SOUTH 46°5631 WEST, A DISTANCE OF 287.44 FEET TO A 5/8-INCH CAPPED IRON
ROD STAMPED JACOBS FOUND;
SOUTH 14°5625 WEST, A DISTANCE OF 122.85 FEET TO A 5/8-INCH CAPPED IRON
ROD STAMPED JACOBS FOUND;
SOUTH 32°4542 EAST, A DISTANCE OF 102.90 FEET TO AN IRON ROD SET; SOUTH
60°2429 WEST, A DISTANCE OF 780.16 FEET TO AN IRON ROD SET; WEST, A
DISTANCE OF 628.83 FEET TO AN IRON ROD SET;
NORTH 07°0506 WEST, A DISTANCE OF 246.75 FEET TO AN IRON ROD SET; NORTH
24°5416 WEST, A DISTANCE OF 164.11 FEET TO AN IRON ROD SET;
SOUTH 89°2734 WEST, A DISTANCE OF 444.34 FEET TO THE POINT OF BEGINNING
AND CONTAINING A CALCULATED AREA OF 72.059 ACRES (3,138,884 SQ. FEET) OF
LAND.
26
27
Exhibit II
Description of Authorized Improvements and Budgeted Costs
Description of Authorized Improvements
Roadway Improvements
The road improvement portion of the Improvement Area #5 Improvements consists of the
acquisition, construction, improvement, widening, narrowing, closing and re-routing of streets,
roadways, bridges and arterials and include, subgrade stabilization (including lime treatment and
compaction), concrete, asphalt or other applicable material, curbs, gutters, sidewalks, barrier free
ramps, signage, traffic control devices and wayfinding, landscaping and irrigation, re-vegetation
of disturbed areas within and for the right of way, retaining walls within and for the right of way,
all related earthwork and excavation, and the fair market value of any right-of-way dedication to
the City which benefit the Improvement Area #5 Assessed Property. All roadway projects will be
designed and constructed in accordance with City standards and specifications, including the Fort
Worth Master Throughfare Plan (the Master Throughfare Plan), and will be owned and operated
by the City. Local residential streets, as defined by the Master Throughfare Plan, will not be an
Authorized Improvement.
Water Improvements
The water improvements portion of the Improvement Area #5 Improvements consists of
acquisition, construction, improvement and installation of water and reclaimed water supply lines,
and related facilities and equipment, includes waterlines (excluding water lines under 8 and
serving residential area), valves, vaults, fire hydrants, trench safety, testing, related earthwork and
excavation, appurtenances, and the fair market value of any easements granted to the City
necessary for the portion of the water distribution system that will service the Improvement Area
#5 Assessed Property, including improvements that are offsite. The water improvements will be
designed and constructed in accordance with City standards and specifications and will be owned
and operated by the City.
Sanitary Sewer Improvements
The sanitary sewer improvement portion of the Improvement Area #5 Improvements consists of
acquisition, construction, improvement and installation of various sized sanitary sewer pipes
(excluding lines 8 or less and serving residential area), service lines, force main(s), lift station(s),
and related facilities and equipment which include, manholes, encasements, pumps, trench safety,
testing, related earthwork and excavation, appurtenances, and the fair market value of any
easements granted to the City necessary to provide sanitary sewer service to Improvement Area #5
Assessed Property, including improvements that are offsite. The sanitary sewer improvements will
be designed and constructed in accordance with City standards and specifications and will be
owned and operated by the City.
28
Storm Drainage Improvements
The storm drainage improvement portion of the Improvement Area #5 Improvements consists of
the acquisition, construction, improvement and installation of stormwater drainage and detention
improvements and related facilities and equipment which include, storm pipes (all applicable
material), storm boxes, multi-reinforced box culverts, junction boxes, inlets, headwalls, trench
safety, testing, related earthwork and excavation and erosion control, appurtenances, and the fair
market value of any easements granted to the City necessary to provide adequate drainage to the
Improvement Area #5 Assessed Property, including improvements that are offsite. The storm
drainage collection system improvements will be designed and constructed in accordance with
City standards and specifications and will be owned and operated by the City.
Public Landscaping and Trails
The public landscaping and trail improvements of the Improvement Area #5 Improvements
consist of the planting and construction of supplemental landscaping such as parks, ponds, lakes,
open spaces, entry features and areas, which include, sitting stations, benches, shaded structure(s),
hardscape such as walls, statues and monuments, landscaping, plantings, and irrigation, fountains,
playgrounds, athletic facilities, pavilions, lighting and paved parking spaces, which benefit the
Improvement Area #5 Assessed Property. The landscaping improvements will be designed
according to City standards and will be available for public use.
Other Soft and Miscellaneous Costs
The soft and miscellaneous costs portion of the Improvement Area #5 Improvements consists of
all costs related to designing, construction, installing, and financing the Authorized Improvements
including engineering and surveying, land planning and design, project and construction
management fees, City fees (including inspection fees, IPRC engineering plan review fees,
administrative material testing costs, water lab testing fees, permit fees, development fees, capacity
fees and per acre charges), material testing, appraisal, legal and issuance costs, contingency, and
other related soft and miscellaneous costs.
29
Budgeted Costs
30
Schedule A to Exhibit II
Development Schedule
Public Improvements Start Date: Q3 2025
Projected Public Improvements End Date: Q2 2026
Projected Vertical Improvements Start Date: Early Q2 2026
Projected Vertical Improvements End Date: Q4 2028
31
Schedule B to Exhibit II
Engineers Report(s)
Storm Drainage Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Post -CCTV Inspection of Storm Drain
LF
574.00
$4.00
$2,296.00
Trench Safety
LF
574.00
$2.00
$1,148.00
21" RCP, Class III
LF
226.00
$85.00
$19,210.00
24" RCP, Class III
LF
348.00
$95.00
$33,060.00
10' Curb Inlet
EA
5.00
$4,600.00
$23,000.00
15' Curb Inlet
EA
7.00
$5,600.00
$39,200.00
Convert 4'X4' Drop Inlet into 4' Square Manhole
EA
2.00
$6,500.00
$13,000.00
Remove 4'X4' Drop Inlet
EA
3.00
$2,500.00
$7,500.00
Inlet Protection
EA
12.00
$250.00
$3,000.00
Post -CCTV Inspection of Storm Drain
LF
4,274.00
$4.00
$17,096.00
Trench Safety
LF
4,274.00
$2.00
$8,548.00
21" RCP, Class III
LF
509.00
$75.00
$38,175.00
24" RCP, Class III
LF
1,151.00
$85.00
$97,835.00
27" RCP, Class III
LF
287.00
$105.00
$30,135.00
30" RCP, Class III
LF
333.00
$115.00
$38,295.00
36" RCP, Class III
LF
993.00
$160.00
$158,880.00
42" RCP, Class III
LF
299.00
$200.00
$59,800.00
48" RCP, Class III
LF
15.00
$235.00
$3,525.00
54" RCP, Class III
LF
349.00
$285.00
$99,465.00
4' Storm Junction Box
EA
6.00
$7,500.00
$45,000.00
5' Storm Junction Box
EA
5.00
$7,928.57
$39,642.85
4' Stacked Manhole
EA
2.00
$15,000.00
$30,000.00
6' Storm Junction Box
EA
2.00
$10,500.00
$21,000.00
10' Curb Inlet
EA
23.00
$4,000.00
$92,000.00
15' Curbinlet
EA
5.00
$5,000.00
$25,000.00
Dual 3x3 MBC
LF
338.00
$560.00
$189,280.00
12'-10" X 6' Junction Box
EA
1.00
$28,500.00
$28,500.00
12'-10" X 10'-6" Junction Box
EA
1.00
$50,500.00
$50,500.00
24" 4:1 Sloped End HW
EA
1.00
$3,500.00
$3,500.00
30" 4:1 Sloped End HW
EA
1.00
$4,500.00
$4,500.00
Dual 3'x3' 4:1 Sloped End HW
EA
1.00
$18,500.00
$18,500.00
36" 4:1 Sloped End HW
EA
1.00
$6,500.00
$6,500.00
42" 4:1 Sloped End HW
EA
1.00
$8,500.00
$8,500.00
12" Large Stone Type "A" Dry Rip Rap
SY
283.00
$165.00
$46,695.00
Subtotal - Storm Drainage Improvements
$1,309,285.85
MR-erToft and Miscellaneous Costs
Item Description Unit I Quantity Unit Price Total Item Cost
Drainage Easements LS 1.00 $55,605.31 $55,605.31
Subtotal - Storm Drainage Improvements $55,605.31
Water Imprdkments
Item Description
Unit
Quantity
Unit Price
Total Item Cost
12" Waterline Lowering
EA
1.00
$6,500.00
$6,500.00
Trench Safety
LF
2,130.00
$2.00
$4,260.00
Ductile Iron Water Fittings w/ Restraint
TON
3.77
$10,500.00
$39,585.00
12" Water Pipe
LF
1,315.00
$102.00
$134,130.00
12" DIP Water
LF
73.00
$112.00
$8,176.00
12" DIP Water, CLSM Backfill
LF
64.00
$142.00
$9,088.00
16"Water Pipe
LF
577.00
$122.00
$70,394.00
16" DIP Water
LF
41.00
$182.00
$7,462.00
16" DIP Water, CLSM Backfill
LF
60.00
$212.00
$12,720.00
Fire Hydrant
EA
2.00
$7,500.00
$15,000.00
12" Gate Valve
EA
6.00
$4,500.00
$27,000.00
16" Gate Valve w/ Vault
EA
3.00
$28,500.00
$85,500.00
2" Combination Air Valve Assembly for Water
EA
1.00
$14,500.00
$14,500.00
Connection to Existing 4"-12" Water Main
EA
1.00
$1,000.00
$1,000.00
1" Irrigation Service
EA
2.00
$1,500.00
$3,000.00
16" Waterline Lowering
EA
4.00
$7,500.00
$30,000.00
Subtotal - Water Improvements
$468,315.00
Sewer Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Post -CCTV Inspection
LF
1,961.00
$4.00
$7,844.00
Final MH-CCTV Inspection
EA
12.00
$400.00
$4,800.00
Manhole Vacuum Testing
EA
12.00
$200.00
$2,400.00
Trench Safety
LF
1,961.00
$2.00
$3,922.00
Concrete Collar for Manhole
EA
5.00
$1,500.00
$7,500.00
Trench Water Stops
EA
7.00
$350.00
$2,450.00
30" Casing By Open Cut
LF
20.00
$380.00
$7,600.00
16" Sewer Carrier Pipe
LF
20.00
$258.00
$5,160.00
15" Sewer Pipe
LF
1,771.00
$178.00
$315,238.00
15" Sewer Pipe, CSS Backfill
LF
150.00
$208.00
$31,200.00
16" DIP Sewer
LF
20.00
$258.00
$5,160.00
Epoxy Manhole Liner
VF
142.00
$485.00
$68,870.00
4' Manhole
EA
8.00
$4,800.00
$38,400.00
4' Extra Depth Manhole
VF
70.00
$225.00
$15,750.00
4' Manhole W/ Hydraulic Slide
EA
4.00
$6,800.00
$27,200.00
Connect to Existing 15" Sewer Stub
EA
1.00
$5,500.00
$5,500.00
End and Plug 15" PVC
EA
1.00
$2,000.00
$2,000.00
Subtotal - Sewer Improvements
$550,994.00
Other Soft and Miscellaneous Costs
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Preliminary Plat Application Fee
LS
1.00
$1,767.21
$1,767.21
SWFMA-25-0031 Application Fee
LS
1.00
$714.37
$714.37
Final Plat Application Fee
LS
1.00
$3,375.83
$3,375.83
IPRC Review Fee
LS
1.00
$15,895.80
$15,895.80
IPRC Inspection Fees
LS
1.00
$58,882.74
$58,882.74
Engineering/Surveying
LS
1.00
$300,469.32
$300,469.32
Final Geotechinical Report & Testing
LS
1.00
$26,894.27
$26,894.27
Subtotal - Other Soft and Miscellaneous Costs
$407,999.54
Roadway Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Clearing & Grubbing
ACRE
2.40
$725.00
$1,740.00
Unclassified Excavation
CY
12,649.00
$3.20
$40,476.80
Erosion Control
LS
1.00
$3,196.95
$3,196.95
Retaining Walls
LS
1.00
$321,261.00
$321,261.00
Hydrated Lime (32 Ibs/sy for Residential & 42 Ibs/sy for Orchard Way)
TON
156.70
$275.00
$43,092.50
6" Lime Treatment
SY
177.00
$4.00
$708.00
8" Lime Treatment
SY
7,326.00
$5.00
$36,630.00
6" Conc Pvmt
SY
176.00
$62.00
$10,912.00
4" Conc Sidewalk
SF
17,490.00
$4.25
$74,332.50
Barrier Free Ramp, Type P-1
EA
8.00
$2,400.00
$19,200.00
Topsoil
CY
322.00
$28.00
$9,016.00
Block Sod Placement
SY
1,934.00
$8.00
$15,472.00
7.5" Conc Pvmt
SY
6,950.00
$78.00
$542,100.00
Construct Type III Barricade
EA
1.00
$800.00
$800.00
Construct Std. Pvmt Header
LF
37.00
$25.00
$925.00
Remove Barricade and Connect to Existing Pavement Header
EA
1.00
$1,000.00
$1,000.00
2" CONDT PVC SCH 80 (T)
LF
1,714.00
$15.00
$25,710.00
Instal l Type 33B Arm
EA
9.00
$600.00
$5,400.00
Furnish/Install 120-240 Volt Single Phase Metered Pedestal
EA
1.00
$10,500.00
$10,500.00
Rdwy Ilium Assembly Ty 8,11,D-25, and D-30
EA
9.00
$2,500.00
$22,500.00
R2
EA
9.00
$750.00
$6,750.00
Rdwy Ilium Foundation Ty 1,2, and 4
EA
9.00
$1,200.00
$10,800.00
NO 2Insulated Elec Condr
LF
1,714.00
$8.00
$13,712.00
Type B Ground Box W/ Apron
EA
5.00
$750.00
$3,750.00
Subtotal - Roadway Improvements
$1,219,984.75
Storm Drainage Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Post -CCTV Inspection of Storm Drain
LF
1,108.00
$4.00
$4,432.00
Trench Safety
LF
1,108.00
$2.00
$2,216.00
21" RCP, Class III
LF
215.00
$75.00
$16,125.00
24" RCP, Class III
LF
174.00
$85.00
$14,790.00
30" RCP, Class III
LF
67.00
$115.00
$7,705.00
36" RCP, Class III
LF
652.00
$160.00
$104,320.00
4' Storm Junction Box
EA
1.00
$5,500.00
$5,500.00
5' Storm Junction Box
EA
2.00
$7,928.57
$15,857.14
10' Curb Inlet
EA
6.00
$4,000.00
$24,000.00
4' X 4' Drop Inlet
EA
3.00
$4,500.00
$13,500.00
Inlet Protection
EA
9.00
$250.00
$2,250.00
Subtotal - Storm Drainage Improvements
$220,695.14
Public Landscaping, Trails and Parks
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Sod
SF
81,194.40
$0.70
$56,836.08
Fine Grade
SF
81,194.40
$0.05
$4,059.72
Trees
EA
64.00
$700.00
$44,800.00
Permits and Inspetion, Design
EA
1.00
$7,000.00
$7,000.00
Irrigation
LS
1.00
$35,000.00
$35,000.00
Subtotal - Public Landscaping, Trails and Parks
$147,695.80
LIFT STATION PHASE 2 UPGRADES
Sewer Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Piping and Valve Submittals
LS
1.00
$10,000.00
$10,000.00
Mobilization
LS
1.00
$10,000.00
$10,000.00
Bonds
LS
1.00
$15,000.00
$15,000.00
Valve Procurement
LS
1.00
$10,000.00
$10,000.00
Discharge Piping Installation
LS
1.00
$18,891.00
$18,891.00
Lift Station and Vault Piping and Valve Installation
LS
1.00
$20,000.00
$20,000.00
Pump Submittals
LS
1.00
$10,000.00
$10,000.00
Pump Procurement
LS
1.00
$41,107.00
$41,107.00
Air Release Valve and Piping Installation
LS
1.00
$10,000.00
$10,000.00
Swing Check Valve Installation
LS
1.00
$15,000.00
$15,000.00
Riser Discharge Piping Installation
LS
1.00
$15,000.00
$15,000.00
Gate Valve Installation
LS
1.00
$15,000.00
$15,000.00
Pump 2 Propeller Installation
LS
1.00
$16,532.00
$16,532.00
Pump 3 Propeller Installation
LS
1.00
$16,532.00
$16,532.00
Completion of All Electrical Submittals
LS
1.00
$20,000.00
$20,000.00
Electrical and Controls Installation
LS
1.00
$79,368.00
$79,368.00
Bypass Pump Submittal
LS
1.00
$10,000.00
$10,000.00
Bypass Pump Mobilization
LS
1.00
$15,000.00
$15,000.00
Bypass Installation
LS
1.00
$25,000.00
$25,000.00
Bypass Pump Schedule Days
Days
12.00
$4,080.83
$48,969.96
Bypass Pump Monitoring
Days
12.00
$2,488.34
$29,860.08
Subtotal - Sewer Improvements
$451,260.04
Other Soft Costs and Miscellaneous Items
Item Description
Unit
Quantity
Unit Price
Total Item Cost
IPRC Application Fee
LS
1.00
$1,000.00
$1,000.00
CFA Appliction Fee
LS
1.00
$2,508.75
$2,508.75
IPRC Inspection Fees
LS
1.00
$75,937.50
$75,937.50
Engineeering/Surveying
LS
1.00
$65,000.00
$65,000.00
Subtotal - Sewer Improvements
$144,446.25
RESIDENTIAL IMPROVEMENTS
Storm Drainage Improvements
Other Soft and Miscellaneous Costs
Subtotal - RESIDENTIAL IMPROVEMENTS
EITHORIZED IMPROVEMENTS
Water Improvements
Sewer Improvements
Other Soft and Miscellaneous Costs
Subtotal - AUTHORIZED IMPROVEMENTS
Roadway Improvements
Storm Drainage Improvements
Public Landscaping, Trails and Parks
Subtotal - ORCHARD WAY
Sewer Improvements
Other Soft and Miscellaneous Costs
Subtotal - LIFT STATION PHASE 2 UPGRADES
$1,309,286
$55,605
$1,364,891
$550,994
$408,000
$1,427,309
$1,219,985
$210,695
$147,696
$1,578,376
$451,260
$144,446
$595,706
TOTAL - IMPROVEMENT AREA #5
Roadway Improvements
$1,219,985
Water Improvements
$468,315
Sewer Improvements
$1,002,254
Storm Drainage Improvements
$1,519,981
Public Landscaping, Trails and Parks
$147,696
Other Soft and Miscellaneous Costs
$608,051
Grading Improvements
1
Item Description
Unit
Quantity
Unit Price
Total Item Cost
8A
CLEARING AND GRUBBING
ACRE
20.90
$750.00
$15,675.00
UNCLASSIFIED EXCAVATION
CY
25,507.05
$3.95
$100,752.95
ROUGH LOT GRADING
LOT
95.00
$250.00
$23,750.00
FINAL LOTGRADING
LOT
95.00
$250.00
$23,750.00
MOISTURE CONDITIONING (40'X75' PAD) - 4 FEET DEEP
LOT
33.00
$1,200.00
$39,600.00
MOISTURE CONDITIONING (40'X75' PAD) - 8 FEET DEEP
LOT
7.00
$3,780.00
$26,460.00
MOISTURE CONDITIONING POLY (6 TO 8 MILTHICKNESS)
LOT
40.00
$300.00
$12,000.00
8B
CLEARING AND GRUBBING
ACRE
43.90
$725.00
$31,827.50
UNCLASSIFIED EXCAVATION IN 8B
CY
48,532.07
$3.20
$155,302.62
UNCLASSIFIED EXCAVATION CUT FROM 8A
CY
252,081.44
$3.95
$995,721.69
FINAL LOT GRADING
LOT
182.00
$250.00
$45,500.00
MOISTURE CONDITIONING (30'x75' PAD) - 4 FEET DEEP
LOT
27.00
$950.00
$25,650.00
MOISTURE CONDITIONING (40'x75' PAD) - 6 FEET DEEP
LOT
38.00
$1,200.00
$45,600.00
MOISTURE CONDITIONING (50'x75' PAD) - 4 FEET DEEP
LOT
25.00
$1,500.00
$37,500.00
MOISTURE CONDITIONING (60'x80' PAD) - 4 FEET DEEP
LOT
10.00
$1,850.00
$18,500.00
MOISTURE CONDITIONING (60'X80' PAD) - 6 FEET DEEP
LOT
8.00
$3,000.00
$24,000.00
MOISTURE CONDITIONING (60'X80' PAD) - 8 FEET DEEP
LOT
9.00
$5,600.00
$50,400.00
MOISTURE CONDITIONING POLY (6 TO 8 MILTHICKNESS)
LOT
126.00
$300.00
$37,800.00
MOISTURE CONDITIONING (30'x75' PAD) - 4 FEET DEEP
LOT
(27.00)
$950.00
($25,650.00)
MOISTURE CONDITIONING (40'x75' PAD) - 6 FEET DEEP
LOT
(38.00)
$1,200.00
($45,600.00)
MOISTURE CONDITIONING (50'x75' PAD) - 4 FEET DEEP
LOT
(19.00)
$1,500.00
($28,500.00)
MOISTURE CONDITIONING (60'x80' PAD) - 4 FEET DEEP
LOT
(10.00)
$1,850.00
($18,500.00)
MOISTURE CONDITIONING (50'x75' PAD) - 6 FEET DEEP
LOT
(9.00)
$2,800.00
($25,200.00)
MOISTURE CONDITIONING (60'X80' PAD) - 6 FEET DEEP
LOT
(4.00)
$3,000.00
($12,000.00)
MOISTURE CONDITIONING (50'x75' PAD) - 8 FEET DEEP
LOT
6.00
$4,500.00
$27,000.00
MOISTURE CONDITIONING (60'X80' PAD) - 8 FEET DEEP
LOT
3.00
$5,600.00
$16,800.00
MOISTURE CONDITIONING POLY (6 TO 8 MILTHICKNESS)
LOT
(104.00)
$300.00
($31,200.00)
MOISTURE CONDITIONING (50'x75' PAD) - 4 FEET DEEP (PREV CUT)
LOT
9.00
$1,500.00
$13,500.00
MOISTURE CONDITIONING (60'x80' PAD) - 4 FEET DEEP (PREV CUT)
LOT
6.00
$1,850.00
$11,100.00
MOISTURE CONDITIONING POLY (6 TO 8 MILTHICKNESS)
LOT
65.00
$250.00
$16,250.00
MOISTURE CONDITIONING POLY (6 TO 8 MIL THICKNESS) (PREV CUT)
LOT
5.00
$300.00
$1,500.00
EROSION CONTROL
EA
1.00
$82,424.86
$82,424.86
Subtotal - Grading Improvements
$1,762,414.52
Roadway Improvements '
Item Description
Unit
Quantity
Unit Price
Total Item Cost
SA
3211.0400 Hydrated Lime (321bs/sy for Residential)
TON
157.00
$285.00
$44,745.00
3211.05016" Lime Treatment
SY
9,810.00
$4.00
$39,240.00
3213.01016" Conc Pvmt
SY
9,182.00
$62.00
$569,284.00
3213.03014" Conc Sidewalk (Developer)
SF
950.00
$4.50
$4,275.00
3213.0506 Barrier Free Ramp, Type P-1
EA
2.00
$2,400.00
$4,800.00
3291.0100 Topsoil
CY
12.00
$28.00
$336.00
3292.0100 Block Sod Placement
SY
71.00
$8.00
$568.00
9999.0006 Remove Barricade and Connect to Existing Pavement Header
EA
5.00
$1,000.00
$5,000.00
9999.0007 Stop Signs
EA
6.00
$850.00
$5,100.00
9999.0008 Street Name Blade Pair
EA
6.00
$250.00
$1,500.00
2605.3015 2" CONDT PVC SCH 80 (T)
LF
670.00
$15.00
$10,050.00
3441.1410 NO 10 Insulated Elec Condr
LF
670.00
$6.00
$4,020.00
3441.1633 Install Type 33B Arm
EA
14.00
$600.00
$8,400.00
3441.3002 Rdwy Illum Assembly TY 8,11,D-25, and D-30
LF
14.00
$2,500.00
$35,000.00
3441.3201 LED Lighting Fixture (50W)
EA
14.00
$750.00
$10,500.00
3441.3301 Rdwy Illum Foundation TY 1,2, and 4
EA
14.00
$1,200.00
$16,800.00
8B
3211.0400 Hydrated Lime(32 Ibs/sy for Residential)
TON
388.30
$285.00
$110,665.50
3211.0111 4" Flexible Base, Type A, GR-1
SY
795.00
$16.00
$12,720.00
3211.0501 6" Lime Treatment
SY
24,270.00
$4.00
$97,080.00
3213.0101 6" Conc Pvmt
SY
23,550.00
$62.00
$1,460,100.00
3213.0301 4" Conc Sidewalk
SF
5,604.00
$4.25
$23,817.00
3213.0506 Barrier Free Ramp, Type P-1
EA
14.00
$2,400.00
$33,600.00
3291.0100 Topsoil
CY
98.00
$28.00
$2,744.00
3292.0100 Block Sod Placement
SY
590.00
$8.00
$4,720.00
9999.0020 Construct Type III Barricade
EA
2.00
$800.00
$1,600.00
9999.0021 Construct Std. Pvmt Header
LF
58.00
$25.00
$1,450.00
9999.0022 Remove Barricade and Connect to Existing Pavement Header
EA
3.00
$1,000.00
$3,000.00
9999.0023 Stop Signs
EA
9.00
$850.00
$7,650.00
9999.0024 Street Name Blade Pair
EA
10.00
$250.00
$2,500.00
9999.0025 Street Sign Pole
EA
10.00
$300.00
$3,000.00
Maintenance Bond
LS
1.00
$0.00
$0.00
2605.3015 2" CONDT PVC SCH 80 (T)
LF
1,879.00
$15.00
$28,185.00
3441.1633 Install Type 33B Arm
EA
39.00
$600.00
$23,400.00
3441.3002 Rdwy Illum Assembly TY 8,11,D-25, and D-30
EA
39.00
$2,500.00
$97,500.00
R2
EA
35.00
$750.00
$26,250.00
3441.3301 Rdwy Illum Foundation TY 1,2, and 4
EA
39.00
$1,200.00
$46,800.00
R4
LF
4.00
$950.00
$3,800.00
3441.1410 NO 10 Insulated Elec Condr
LF
1,879.00
$6.00
$11,274.00
Subtotal - Roadway Improvements
$2,763,273.50
Retaining Wall Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
8A Retaining Walls
LS
ILS
1.00
$708,179.00
$708,179.00
8B Retaining Walls
1.00
$1,065,858.00
$1,065,858.00
Subtotal - Retaining Wall Improvements
$1,065,858.00
Water Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
SA
8" Waterline Lowering
EA
4.00
$5,500.00
$22,000.00
Trench Safety
LF
2,802.00
$2.00
$5,604.00
Ductile Iron Water Fittings w/ Restraint
TON
0.92
$9,500.00
$8,721.00
8" Water Pipe
LF
2,728.00
$56.00
$152,768.00
8" DIP Water, CLSM Backfill
LF
74.00
$86.00
$6,364.00
Fire Hydrant
EA
4.00
$7,500.00
$30,000.00
2" Combination Air Valve Assembly for Water
EA
3.00
$12,500.00
$37,500.00
1" Water Service
EA
95.00
$1,200.00
$114,000.00
8" Gate Valve
EA
6.00
$2,500.00
$15,000.00
Connection to Existing 4"-12" Water Main
EA
5.00
$1,000.00
$5,000.00
1" Irrigation Service
EA
1.00
$1,500.00
$1,500.00
8B
20" Casing By Open Cut
LF
78.00
$320.00
$24,960.00
8" Waterline Lowering
EA
18.00
$5,500.00
$99,000.00
Trench Safety
LF
5,575.00
$2.00
$11,150.00
8" Water Carrier Pipe
LF
78.00
$66.00
$5,148.00
Ductile Iron Water Fittings w/ Restraint
TON
1.97
$10,500.00
$20,685.00
8" Water Pipe
LF
5,184.00
$56.00
$290,304.00
8" DIP Water, CLSM Backfill
LF
313.00
$86.00
$26,918.00
Fire Hydrant
EA
15.00
$7,500.00
$112,500.00
1" Water Service
EA
165.00
$1,200.00
$198,000.00
8" Gate Valve
EA
21.00
$2,500.00
$52,500.00
Connection to Existing 4"-12" Water Main
EA
4.00
$1,000.00
$4,000.00
1" Irrigation Service
EA
2.00
$1,500.00
$3,000.00
Tap 1" Water Service into Existing 8" Waterline
EA
1.00
$2,500.00
$2,500.00
Subtotal - Water Improvements
$1,249,122.00
Sewer Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
8A
Post -CCTV Inspection
LF
2,824.00
$4.00
$11,296.00
Final MH-CCTV Inspection
EA
17.00
$400.00
$6,800.00
Trench Safety
LF
2,824.00
$2.00
$5,648.00
Trench Water Stops
EA
8.00
$350.00
$2,800.00
4" Sewer Service
EA
95.00
$900.00
$85,500.00
8" Sewer Pipe - SDR 26
LF
2,724.00
$72.00
$196,128.00
8" Sewer Pipe, CSS Backfill
LF
100.00
$92.00
$9,200.00
Epoxy Manhole Liner
VF
69.00
$485.00
$33,465.00
4' Manhole
EA
17.00
$5,000.00
$85,000.00
4' Extra Depth Manhole
VF
23.00
$225.00
$5,175.00
Connect to Existing 8" Sewer Stub
EA
5.00
$1,500.00
$7,500.00
8B
Post -CCTV Inspection
LF
5,791.00
$4.00
$23,164.00
Final MH-CCTV Inspection
EA
36.00
$400.00
$14,400.00
Manhole Vacuum Testing
EA
36.00
$200.00
$7,200.00
Trench Safety
LF
5,791.00
$2.00
$11,582.00
Trench Water Stops
EA
26.00
$350.00
$9,100.00
20" Casing By Open Cut
LF
65.00
$380.00
$24,700.00
8" Sewer Carrier Pipe
LF
65.00
$104.00
$6,760.00
4" Sewer Service
EA
180.00
$900.00
$162,000.00
8" Sewer Pipe
LF
5,369.00
$74.00
$397,306.00
8" Sewer Pipe, CSS Backfill
LF
310.00
$94.00
$29,140.00
8" DIP Sewer Pipe
LF
47.00
$104.00
$4,888.00
Epoxy Manhole Liner
VF
227.00
$485.00
$110,095.00
4' Manhole
EA
34.00
$5,000.00
$170,000.00
4' Drop Manhole
EA
2.00
$6,000.00
$12,000.00
4' Extra Depth Manhole
VF
124.00
$225.00
$27,900.00
Connect to Existing 8" Sewer Stub
EA
2.00
$4,500.00
$9,000.00
End and Plug 8" PVC
EA
2.00
$500.00
$1,000.00
Subtotal - Sewer Improvements
$1,468,747.00
Landscape and Open Space Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Sod
SF
65,000.00
$0.70
$45,500.00
Fine Grade
SF
65,000.00
$0.05
$3,250.00
Trees
EA
42.00
$700.00
$29,400.00
Permits and Inspetion, Design
EA
1.00
$7,000.00
$7,000.00
Irrigation
LS
1.00
$35,000.00
$35,000.00
Subtotal -Landscape and Open Space Improvements
$120,150.00
Other Soft Miscellaneous Costs
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Preliminary Plat Application Fee
LS
1.00
$3,702.79
$3,702.79
Final Plat Application Fee
LS
1.00
$6,979.76
$6,979.76
IPRC Review Fee
LS
1.00
$32,865.64
$32,865.64
IPRC Inspection Fees
LS
1.00
$121,744.01
$121,744.01
Engineering/Surveying
LS
1.00
$621,240.51
$621,240.51
Final Geotechinical Report & Testing
LS
1.00
$55,605.73
$55,605.73
Subtotal - Other Soft and Miscellaneous Costs
$842,138.44
iUMMARYTOTALS
RESIDENTIAL IMPROVEMENTS
Grading Improvements
$1,762,415
Roadway Improvements
$2,763,274
Retaining Wall Improvements
$1,065,858
Water Improvements
$1,249,122
Sewer Improvements
$1,468,747
Landscape and Open Space Improvements
$120,150
Other Soft and Miscellaneous Costs
$842,138
Subtotal - RESIDENTIAL IMPROVEMENTS
$9,271,703
TOTAL - IMPROVEMENT AREA #5
Grading Improvements
$1,762,415
Roadway Improvements
$2,763,274
Retaining Wall Improvements
$1,065,858
Water Improvements
$1,249,122
Sewer Improvements
$1,468,747
Landscape and Open Space Improvements
$120,150
Other Soft and Miscellaneous Costs
$842,138
VENTA'NA IWE6T� 1 � 1
PHASE 1A J
VMANA
�i 1C
PHASE BA \ \
95 LOTS
(50'X120')
55 LOTS
(50'X730')
40 LOTS
E-j
LEGEND
O OPEN SPACE
0 PID ROAD IMPROVEMENTS
0 PID STORM DRAIN LINES (INCLUDES ALL
PIPES, INLETS, AND STRUCTURES)
PID 15' SANITARY SEWER LINE
AND LIFT STATION (INCLUDES ALL PIPES,
MANHOLES, AND SERVICES)
PID 12' WATER LINE (INCLUDES ALL PIPES.
SERVICES, AND APPURTENANCES)
_ PID 16' WATER LINE (INCLUDES ALL PIPES,
SERVICES, AND APPURTENANCES)
I\
LAND USE SUMMARY
MAXIMUM
ZONING DISTRIR
TYPIfAL
LAND USE
NUMBER OF UNITS
ACREAGE
11
40'1130'
Residential Suburban Density-1
83
3.95
AS
50'x120'
Residential Suburban Density -AS
N/A
19.00
AS
50'x130'
Residentia l Suburban Q,eny;y-AS
n/(�
6.77
AS
60'x120'
Res idential Suburban Density - AS
NSA
6.33
AS
70'x120'
Resltlentlal$oMan penslty - AS
N/A
8.53
N/A
N/A
Public Open Spp- (Parks, Mews, and Buffers)
N/�
13.72
N//�
N`P
Resltlentlal Street ROW
N/P
11.36
PHASEBA
N/A
N/A
Orchard Way ROW
N/A
2.34 1
PRASE BB
TOTAL
72.00 1
TOTAL
I
SINGLE FAMILY RESIDENTIAL YIELD
50'1 60'6 7019
95 0 0
68 38 39
163 38 39
TOTAL
95
182
277 \
0 150 300
FEET
EXISTING
ROWING HILLS
ELEMENTARY SCHOOL
SEWER
SANITARY SEWER
LIFT STATION
— —
■1
K
4i
./ PID INFRASTRUCTURE
F' DECEMBER 202-1
'MAVERICK PHASE 11 yENeB nu. In .E88A&8B
I WA ES�PP// ring. Inc.lif
1 6060 NMh� . Expressumy Phone 469621910
BU —o
Dallas Texas 75206 FRN-F-IM
I Area Map]
L-j
WWT
VEALE RANCH
MASTER PLAN
7-
I
S:\NTX-LAND\0002\NT840\700 COMMUNICATIONS\720 Memo\Ventana Phase 8 Letter 26FEB19.docx
February 26, 2026
Re:
Ventana Phase 8
Fort Worth, Texas
Ventana Phase 8 is a proposed single-family development comprised of approximately 277 residential
lots in Fort Worth, Texas. Phase 8A is comprised of 95 residential lots, and is currently under
construction. Phase 8B is comprised of 182 residential lots, and is also currently under construction.
The proposed authorized infrastructure improvements associated with Phase 8 of the development
are shown in the attached exhibits. A quantity takeoff and associated construction cost summary has
been prepared based on executed contractor bids, and construction costs associated with authorized
improvements have been quantified. Authorized Improvements are categorized as any public utility
in diameter) serving
-of-way Collector
Road), and improvements associated with the Ventana Lift Station Phase 2 Upgrades (a lift station
upgrade project needed to provide adequate sewer capacity to serve Ventana Phase 8). All Authorized
Improvements are necessary in order to provide utilities and access to Ventana Phase 8 residential
lots.
32
Exhibit III
Certification for Payment Form [SUBJECT TO FURTHER REVIEW]
The undersigned is an agent for _____________________________, a Texas
_______________________ (the Developer), and requests payment from the [applicable
Improvement Account of the Project Fund] (as defined in the Indenture) or [Assessment
Reimbursement Fund] from the City of Fort Worth, Texas (the City), or Trustee (as defined in
the Indenture) in the amount of $___________ for costs incurred in the establishment,
administration, and operation of the Fort Worth Public Improvement District No. 22 (Veale Ranch)
(the District) and for labor, materials, fees, and/or other general costs related to the design,
acquisition, or construction of certain Authorized Improvements related to the District. Unless
otherwise defined, any capitalized terms used herein shall have the meanings ascribed to them in
the [Indenture] and Improvement Area #5 Reimbursement Agreement, dated ___________, 2026,
and recorded in ___________ of the Real Property Records of Parker County and
______________ in the Real Property Records of Tarrant County.
In connection to the above referenced payment, the Developer represents and warrants to the City
as follows:
1. The undersigned is a duly authorized officer of the Developer, is qualified to execute this
payment request form on behalf of the Developer, and is knowledgeable as to the matters
set forth herein.
2. The payment requested for the below referenced Authorized Improvement(s) has not been
the subject of any prior payment request submitted for the same work to the City or, if
previously requested, no disbursement was made with respect thereto.
3. The amount listed for the Authorized Improvement(s) below is a true and accurate
representation of the Actual Costs associated with said Authorized Improvement(s); and
such costs are authorized to be paid to Developer pursuant to the Development Agreement,
the Master Reimbursement Agreement, and the Improvement Area #5 Reimbursement
Agreement.
4. The Developer is in compliance with the applicable terms and provisions of the
Development Agreement, the Indenture, the Developer Continuing Disclosure Agreement,
the Master Reimbursement Agreement, the Improvement Area #5 Reimbursement
Agreement, and the Service and Assessment Plan (Agreements).
5. All applicable conditions set forth in the Agreements for the payment hereby requested
have been satisfied.
6. The work with respect to the Authorized Improvement(s) referenced below (or their
completed segment, section or portion thereof) has been completed.
7. The Developer has timely paid all ad valorem taxes and annual installments of special
assessments it owes or an entity Developer controls owes, located in the Veale Ranch
Public Improvement District and has no outstanding delinquencies for such assessments.
33
8. All conditions set forth in the Indenture for the payment hereby requested have been
satisfied.
9. The Developer agrees to cooperate with the City in conducting its review of the requested
payment, and agrees to provide additional information and documentation as is reasonably
necessary for the City to complete said review.
10. [Payment hereunder should be rendered to {Reimbursee details}]
Payments requested are as follows:
a. X amount to Person or Account Y for Z goods or services.
b. Etc.
As provided by the Agreements, the Actual Costs for the Authorized Improvement(s) shall be paid
as follows:
Authorized Improvement:
Amount to be paid from
the ________ Fund
Total Cost of Authorized
Improvement
Attached hereto are receipts, purchase orders, change orders, and similar instruments that support
and validate the above requested payments.
Pursuant to the ___________, after receiving this payment request, the City is authorized to inspect
the Public Improvement (or completed, section or portion thereof segment) and confirm that said
work has been completed in accordance with all applicable governmental laws, rules, and plans.
I hereby declare that the above representations and warranties are true and correct.
By:
Name:
Its:
Date:
34
APPROVAL OF REQUEST BY CITY
The undersigned is in receipt of the attached Certification for Payment. After reviewing the
Certification for Payment, the Certification for Payment is approved in the amount of $________,
and the Trustee or _______________ is directed to disburse the requested payment in said amount
from the ___________, in accordance with the Certification for Payment.
CITY OF FORT WORTH, TEXAS
By:
Name:
Title:
Date:
Exhibit IV
Closing Disbursement Request
Form of Closing Disbursement Request
The undersigned is an agent for _______________(Developer) and requests payment to
Developer (or to the person designated by Developer) from the applicable account of the PID
Project Fund from _______________ (the Trustee) in the amount of
_______________________ $________) to be transferred from the applicable account of the
Project Fund upon the delivery of the PID Bonds for costs incurred in the issuance of bonds,
establishment, administration, and operation of the Fort Worth Public Improvement District No.
(22) (Veale Ranch) (the District) or payment of any costs attributable to the District by
Developer, as follows. Unless otherwise defined, any capitalized terms used herein shall have the
meanings ascribed to them in the Indenture of Trust by and between City and the Trustee dated as
of _______, 202___ (the Indenture) relating to the [INSERT NAME OF BONDS] (the PID
Bonds). The term Authorized Improvements, as used herein, refers to the Authorized
Improvements in [SPECIFY IMPROVEMENT AREA].
In connection with the above referenced payment, Developer represents and warrants to City as
follows:
1. The undersigned is a duly authorized officer of Developer, is qualified to execute this
Closing Disbursement Request on behalf of Developer and is knowledgeable as to the matters set forth
herein.
2. The payment requested for the below referenced costs of issuance, establishment,
administration, and operation of the District or payment of any costs attributable to the District by
Developer at the time of the delivery of the PID Bonds have not been the subject of any prior payment
request submitted to City.
3. The amount listed for the Authorized Improvements below is a true and accurate
representation of the Costs associated with the acquisition, installation or construction of said Authorized
Improvements, and such costs are (i) in compliance with the Reimbursement Agreement, (ii) in compliance
with the Indenture, and (iii) consistent with the Service and Assessment Plan.
4. Developer is in compliance with the applicable terms and provisions of the Reimbursement
Agreement, the Indenture, Developer Continuing Disclosure Agreement, the Service and Assessment Plan,
and the Development Agreement (as defined in the Reimbursement Agreement).
5. Developer is current on all ad valorem property taxes and District assessments on property
owned by Developer within the District.
6. All conditions set forth in the Indenture and the Reimbursement Agreement for the
payment hereby requested have been satisfied.
7. Developer agrees to cooperate with City in conducting its review of the requested payment
and agrees to provide additional information and documentation as is reasonably necessary for City to
complete said review.
8. Developer has on file with the Attorney General a standing letter addressing the
representations and verifications in Section 12.14 of the Reimbursement Agreement in a form acceptable
to the Attorney General.
36
Payments requested hereunder shall be made as directed below:
[Information regarding Payee, amount, and deposit instructions attached]
Attached hereto are receipts, purchase orders, change orders, and similar instruments that support
and validate the above requested payments. Also attached hereto are bills paid affidavits and
supporting documentation in the standard form for City construction projects.
Pursuant to the Improvement Area #5 Reimbursement Agreement, after receiving this payment
request, the City is authorized to inspect the Authorized Improvements (or completed, section, or
portion thereof segment) and confirm that said work has been completed in accordance with all
applicable laws, rules and regulations.
I hereby declare that the above representations and warranties are true and correct.
__________________________
By: _______________________
Name: _____________________
Title: ______________________
37
APPROVAL OF REQUEST BY CITY
City is in receipt of the attached Closing Disbursement Request, acknowledges the Closing
Disbursement Request, and finds the Closing Disbursement Request to be in order. After reviewing
the Closing Disbursement Request, City approves the Closing Disbursement Request and shall
include said payments in City Certificate submitted to the Trustee directing payments to be made
from the applicable account under the Indenture upon delivery of the PID Bonds. The Citys
approval of the Closing Disbursement Request for payment shall not have the effect of estopping
or preventing the City from asserting claims under the Indenture, the Service and Assessment Plan,
or any other agreement between the parties, or from asserting that there is a defect in the
Authorized Improvements.
CITY OF FORT WORTH, TEXAS
By: ___________________________
Name: ________________________
Title: _________________________
Date: ________________, 202__
1
013857.000001\4914-0233-0238.v5
VEALE RANCH DEVELOPMENT
IMPROVEMENT AREA NUMBER 4 REIMBURSEMENT AGREEMENT
This Fort Worth Public Improvement District No. (22) (Veale Ranch) Improvement Area
Number 4 Reimbursement Agreement (this Agreement) is entered into between and among the
City of Fort Worth, Texas (the City); PMB FW Land LP, a Texas limited partnership (the
Reimbursee); and FW Club LP, a Texas limited partnership and FW Maverick Development
LLC, a Delaware limited liability company (collectively the Developer), to be effective as of
the _________, 2026 (Effective Date). The City, the Reimbursee, and the Developer are referred
to herein individually as a Party and collectively as the Parties.
RECITALS:
WHEREAS, this Agreement is entered into pursuant to the Veale Ranch Development
Master Reimbursement Agreement, entered into by the City, the Board, and the Original Owners,
the same being recorded with the City of Fort Worth City Secretary as City Secretary Contract
(CSC) Number 60573 (the Master Reimbursement Agreement); and
WHEREAS, the Master Reimbursement Agreement was entered into pursuant to that
certain Development Agreement, which is recorded with the Fort Worth City Secretary as CSC
No. 59003 (the Development Agreement); and
WHEREAS, the Master Reimbursement Agreement requires that the parties thereto or in
the case of the Original Owners, or their Assignees, will enter into this Agreement to provide for
the reimbursement of the costs associated with certain improvements from the proceeds of PID
Bonds, and/or Assessment Revenues; and
WHEREAS, the City has previously created the District and the Developer is requesting
that the City create Improvement Area Number 4 within the District, the boundaries of which are
set forth in Exhibit I (the Improvement Area); and
WHEREAS, PMB Rolling V South Land L.P., a Texas limited partnership, as one of the
Original Owners under the Development Agreement, executed a Partial Assignment and
Assumption of Veale Ranch Development Agreement, dated March 14, 2024, a copy of which is
attached hereto as Exhibit II, and assigned to Reimbursee all of its rights and obligations
relative to the 638.357 acre tract described in such partial assignment; and
WHEREAS, Reimbursee thereafter executed a Partial Assignment and Assumption of
Veale Ranch Development Agreement, dated May 15, 2024, a copy of which is attached hereto as
Exhibit III and assigned to Developer, all of its rights and obligations relative to developing
such 638.357 acre tract, but retained the right to be reimbursed pursuant to the Development
Agreement and the Master Reimbursement Agreement;
WHEREAS, this Agreement is a reimbursement agreement authorized by Section
372.023(d)(1) of the PID Act;
AGREEMENT:
2
013857.000001\4914-0233-0238.v5
NOW, THEREFORE, in consideration of the foregoing premises, the mutual covenants
contained herein, and for such other good and valuable consideration the receipt and adequacy of
which are hereby acknowledged, the Parties agree as follows:
Section 1
Capitalized Terms; Incorporation of Master Reimbursement Agreement
(a) Capitalized terms not otherwise defined herein shall have the meanings assigned to
such terms in the Master Reimbursement Agreement. Capitalized terms not otherwise defined in
this Agreement or the Master Reimbursement Agreement shall have the meanings assigned to such
terms in the Development Agreement.
(b) Except where explicitly waived or varied herein, all of the terms of the Master
Reimbursement Agreement are hereby incorporated herein. The Developer agrees to abide by the
provisions thereof to the extent they apply to the subject matter of this Agreement as if it were a
party thereto.
Section 2
Design and Construction of Public Improvements
(a) The Developer, in accordance with its development schedule and as set forth in
Schedule A to Exhibit IV, as it may be amended from time-to-time, and the provisions of the
Development Agreement, shall cause to be constructed all Authorized Improvements serving the
Improvement Area.
(b) The specific Authorized Improvements to be constructed to serve the Improvement
Area, and the Budgeted Costs therefore, are set forth on Exhibit IV, together with the supporting
Engineers Report(s) are attached thereto as Schedule B. The Developer shall pay, or cause to be
paid, all costs of the Authorized Improvements, including all costs incurred in connection with
obtaining governmental approvals, certificates, permits, easements, rights-of-way, or sites required
as a part of the construction of the Authorized Improvements, including, without limitation, any
on- site or off-site mitigation costs; and all costs arising in connection with the creation of the
District.
(c) THE CITY SHALL NOT BE LIABLE TO ANY CONTRACTOR, ENGINEER,
ATTORNEY, MATERIALMAN OR OTHER PARTY EMPLOYED OR CONTRACTED WITH
IN CONNECTION WITH THE CONSTRUCTION OF THE AUTHORIZED
IMPROVEMENTS, BUT SHALL ONLY BE OBLIGATED TO ACQUIRE AND MAINTAIN
SUCH IMPROVEMENTS AND REIMBURSE THE REIMBURSEE IN THE MANNER AND
TO THE EXTENT PROVIDED HEREIN.
(d) Construction, Ownership, and Transfer of Public Improvements:
(i) Construction Plans. The Developer shall prepare, or cause to be prepared,
plans and specifications for each of the Authorized Improvements, and have
them submitted to the City for approval in accordance with this Section.
The construction plans for the Authorized Improvements shall be prepared
by a professional engineer or architect licensed in the State of Texas, at
Developers cost. Construction plans shall be in conformity with the City
Regulations, and State law related to the construction of horizontal and
3
013857.000001\4914-0233-0238.v5
engineered infrastructure and facilities. Upon receipt of complete
construction and/or engineering plans and corresponding fees, the City shall
review the submitted construction and/or engineering plans to determine
their compliance with applicable City Regulations, State law, this
Agreement, and the Development Agreement. In certain cases required by
statute, construction plans may be required to be submitted to other local
and state agencies for approval. The City shall provide comments to the
submitter of the construction plans, plats (including Community Facilities
Agreements), permits, Master Studies and Local Studies regarding their
compliance, addressing any areas that fail to comply with the City
Regulations, State law, this Agreement, or the Development Agreement in
accordance with the time periods established by Chapter 212 of the Texas
Local Government Code and Section 7.4 of the Development Agreement.
(ii) Contract Award. The contracts for construction of Authorized
Improvements shall be let in the name of Developer, unless otherwise
agreed by the Developer and City. Developers engineers shall prepare, or
cause to be prepared, contract specifications and necessary related
documents for the Authorized Improvements. Developer shall administer
all contracts. The Budgeted Costs of Authorized Improvements paid or
caused to be paid by Developer shall be reimbursed pursuant to the terms
of this Agreement and pursuant to the Master Reimbursement Agreement.
(iii) Construction Standards and Inspection. The Authorized Improvements
required for the full development of the Property shall be constructed in
phases, and inspected in accordance with the City Regulations. All
generally applicable fees established by the City Council, including permit
fees and inspection fees, shall be paid by Developer.
(iv) Competitive Bidding. This Agreement and construction of the Authorized
Improvements are anticipated to be exempt from competitive bidding
pursuant to Texas Local Government Code, Sections 252.022(a)(9) and
252.022(a)(11), based upon current cost estimates. In the event that the
actual costs for the Authorized Improvements do not meet the parameters
for exemption from the competitive bid requirement, then either
competitive bidding or alternative delivery methods may be utilized as
allowed by law and City ordinances. If the City participates in the cost of
the Authorized Improvements, such as when oversizing the Public
Improvements, competitive bidding may be necessary if required by State
law.
(v) Public Improvement Conveyance. All Authorized Improvements shall be
conveyed to the City free and clear of all liens. At the time of conveyance,
the Developer shall deliver to the City releases from the contractors,
subcontractors, and suppliers of materials who have provided labor and
materials for the Authorized Improvements showing they have been paid
for such labor and materials.
4
013857.000001\4914-0233-0238.v5
(vi) Bonds. Developer shall provide the City with an adequate financial
guarantee for all Authorized Improvements in accordance with City
Regulations and Developers contractors shall provide the City with
payment, performance and maintenance bonds for all Public Improvements
as required by the City Regulations. To the extent costs for bonds are for
Authorized Improvements, such costs shall be considered Authorized
Improvements eligible for reimbursement. To the extent bond costs are for
City oversizing, such costs shall be the responsibility of the City.
(vii) Ownership. All of the Authorized Improvements will be owned by the City
upon acceptance of them by the City. Developer will dedicate land related
to the Authorized Improvements to the City by plat or separate instrument
in accordance with the Citys standard processes for review and approval of
plats, easements, and deeds. When the completed Authorized
Improvements have been inspected by the City and determined to be
constructed in compliance with Section 2 herein, the Citys Assistant City
Manager will execute a notice of project completion, commonly referred to
as a green sheet. The notice of project completion will establish the
Authorized Improvements Costs of the complete Authorized
Improvements, as applicable, and will serve as the Citys formal acceptance
of the Authorized Improvements, lien free, in accordance with the standard
City policies applicable to such improvements, including maintenance
bonds and assignments of warranties, if any.
Section 3
Costs
3.01 Budgeted Costs.
(a) The total Budgeted Costs of the Authorized Improvements to be constructed in the
Improvement Area, as described in Exhibit IV, is $13,399,136.62.
(i) The aggregate Authorized Improvements Outstanding Reimbursement
Amount under the Master Reimbursement Agreement shall be reduced by
the amount of the final Authorized Improvement Costs for the Improvement
Area that is the subject of this Agreement and pursuant to Section
6.01(a)(iv) of the Master Reimbursement Agreement.
(ii)The total amount to be reimbursed hereunder shall not exceed the total of
the Authorized Improvements Costs of the Authorized Improvements
actually incurred by the Developer, which includes any Cost Overruns
(Improvement Area Authorized Improvements Reimbursement Amount).
(iii)The Improvement Area Authorized Improvements Reimbursement Amount
payable to the Reimbursee shall be reduced by the costs of issuance
associated with the issuance of any PID Bonds issued pursuant to this
Agreement, including, but not limited to, any underwriters discount and
reserve fund deposits, if any, required by an applicable Indenture,
notwithstanding that such funds shall not actually be paid by the Developer.
5
013857.000001\4914-0233-0238.v5
For the avoidance of doubt, the costs of issuance of any PID Bonds shall be
included as Authorized Improvements and Budgeted Costs.
3.02 Reimbursement.
(a) The City shall reimburse the Reimbursee for the Authorized Improvements Costs
of the Authorized Improvements contemplated hereunder from (a) the proceeds of PID Bonds
issued in accordance with Section 4 of the Master Reimbursement Agreement, and (b) if PID
Bonds have not been issued, from Assessment Revenues in accordance with Section 3 of the
Master Reimbursement Agreement.
(b) During any period in which reimbursement is occurring incrementally from
Assessment Revenue deposited to the Assessment Reimbursement Fund, the annual installments
of the Assessments will include interest calculated at: (i) for a period of five (5) years beginning
in the year of the initial levy, five percent (5%) above the highest average index rate for tax exempt
bonds reported in a daily or weekly bond index approved by the governing body and reported in
the month before the date the obligation was incurred; and (ii) after the period described in (i), two
percent (2%) above the bond index rate described above. Following the issuance of PID Bonds,
the interest rate paid to Reimbursee on the unpaid and outstanding principal amount of the
Improvement Area Authorized Improvements Maximum Reimbursement Amount shall be equal
to the aggregate true interest cost of the initial series of PID Bonds issued for such Authorized
Improvements. Such interest shall be payable to the Developer in addition to reimbursement for
such Authorized Improvements. No interest shall accrue to any portion of the Improvement Area
Authorized Improvement Reimbursement Amount attributable to Authorized Improvements
which have not been completed. Notwithstanding the foregoing, in no event shall the interest rate
so calculated exceed the maximum rate permitted by Chapter 1204, Texas Government Code.
(c) As a condition to any reimbursement hereunder, except for reimbursements from
PID Bond proceeds at the time of closing thereof, which shall be governed in accordance with
Section 4, the Developer or the Reimbursee on the Developers behalf shall submit for approval
to the City a Certification for Payment Form for Authorized Improvements Costs, including
completed segment, section, or portion of an Authorized Improvement and any Cost Overruns
associated therewith. The Certification for Payment Form is set forth in Exhibit IV and the
procedures for the submission thereof are discussed in Section 4 below.
(d) If the City requires additional documentation, or timely disapproves or questions
the correctness or authenticity of the Certification for Payment, the City shall deliver a detailed
notice to the Developer within twenty (20) business days of receipt thereof; payment with respect
to the disputed portion(s) of the Certification for Payment shall not be made until Developer and
the City have jointly settled such dispute or additional information has been provided to the Citys
reasonable satisfaction.
(e) REIMBURSEMENT UNDER THIS AGREEMENT, IS SUBJECT TO
COMPLIANCE BY THE ORIGINAL OWNER OR DEVELOPER OR THEIR RESPECTIVE
ASSIGNEE(S) WITH THE TERMS OF THIS AGREEMENT, AS SUCH TERMS RELATE TO
THE PROPERTY THAT IS THE SUBJECT MATTER OF THIS AGREEMENT; PROVIDED,
HOWEVER, THAT THE CITYS OBLIGATION TO REIMBURSE THE ORIGINAL OWNER,
DEVELOPER OR THEIR RESPECTIVE ASSIGNEES UNDER THIS AGREEMENT FOR THE
6
013857.000001\4914-0233-0238.v5
AUTHORIZED IMPROVEMENTS SERVING THE PARTICULAR IMPROVEMENT AREA
THAT IS THE SUBJECT OF THIS AGREEMENT SHALL BE ABATED, IF A PARTY TO
THIS AGREEMENT FAILS TO COMPLETE CONSTRUCTION OF THE AUTHORIZED
IMPROVEMENTS WITHIN AN IMPROVEMENT AREA NOT THE SUBJECT OF THIS
AGREEMENT AND SUCH FAILURE RENDERS IMPRACTICABLE OR INEFFECTUAL
THE USE OF THE AUTHORIZED IMPROVEMENTS THAT ARE THE SUBJECT MATTER
OF THIS AGREEMENT. SUCH ABATEMENT SHALL CONTINUE UNTIL THE
AUTHORIZED IMPROVEMENTS THAT ARE THE SUBJECT OF THIS AGREEMENT CAN
BE EFFECTIVELY UTILIZED.
Section 4
Disbursements
(a) The Parties agree that, from the proceeds of an applicable series of PID Bonds, and
upon the presentation of evidence satisfactory to the City, the City will cause the Trustee under
the applicable Indenture to pay at the closing of such PID Bonds approved amounts from the
appropriate account to the City or Reimbursee, as applicable, which amounts may include payment
for costs of issuance and payment of costs incurred in the establishment, administration and
operation of the District and any other eligible items expended by Developer or Reimbursee and
City as of the time of the delivery of such PID Bonds as described in the applicable Indenture and
the Service and Assessment Plan.
(b) In order to receive disbursements at the closing of an applicable series of PID
Bonds, Reimbursee and Developer shall execute a Closing Disbursement Request, in substantially
the form attached hereto as Exhibit VI, to be delivered to City no less than fifteen (15) business
days prior to the scheduled closing date for such PID Bonds for payment in accordance with the
provisions of the applicable Indenture.
(c) In order to receive disbursements from an Assessment Reimbursement Fund or, if
PID Bonds have been issued, disbursements from the Improvement Account following the initial
disbursement as described in Section 4(b) above, the Developer shall execute a Certification for
Payment, in substantially the form attached hereto as Exhibit V, no more frequently than monthly,
to be delivered to City for payment in accordance with the provisions of the applicable Indenture
and this Agreement.
(d) Upon receipt of a Certification for Payment or Closing Disbursement Request
(along with all accompanying documentation required by City) from the Developer, City shall
conduct a review in order to confirm that such request is complete, to confirm that the work for
which payment is requested was performed in accordance with Section 2 herein and the
Development Agreement, and to verify and approve the Authorized Improvements Costs, of such
work specified in such Certification for Payment or Closing Disbursement Request. City shall also
conduct such review as is required in its discretion to confirm the matters certified in the
Certification for Payment and Closing Disbursement Request. The Developer agrees to reasonably
cooperate with City in conducting each such review and to provide City with such additional
information and documentation as is reasonably necessary for City to conclude each such review.
(e) Not later than fifteen (15) business days following receipt of any Certification for
Payment, City shall either: (1) approve the Certification for Payment, or (2) provide Developer
7
013857.000001\4914-0233-0238.v5
with written notification of disapproval of all or part of a Certification for Payment, specifying the
basis for any such disapproval.
(f) Immediately upon approval of a Certification for Payment, the City shall, if PID
Bonds have been issued, forward such certification to the Trustee for payment from the
Improvement Account pursuant to the Indenture, or, if PID Bonds have not yet been issued, make
payment on such certification from the applicable Assessment Reimbursement Fund pursuant to
this Agreement. The obligation to make payment in either such case is subject to the availability
of funds in the applicable Improvement Account or Assessment Reimbursement Fund.
(g) If the City requires additional documentation, or timely disapproves or questions
the correctness or authenticity of the Certification for Payment, the City shall deliver a detailed
notice to the Developer within twenty (20) business days of receipt of such Certification for
Payment; payment with respect to the disputed portion(s) of the Certification for Payment shall
not be made until Developer and the City have jointly settled such dispute or additional information
has been provided to the Citys reasonable satisfaction.
(h) If there is a dispute over the amount of any payment, the City shall nevertheless
pay the undisputed amount to the Reimbursee, and the Parties shall use all reasonable efforts to
resolve the disputed amount before the next payment is made; however, if the Parties are unable
to resolve the disputed amount, then the Citys determination of the disputed amount (as
determined by the City Manager in his/her reasonable and good faith judgment) shall control.
(i) The Developer shall not submit a Certification for Payment or Closing
Disbursement Request requesting reimbursement for Authorized Improvements Costs in excess of
the actual Authorized Improvement Costs.
(j) Approved Certificates for Payment that await reimbursement shall not accrue
interest after the date of City approval provided payment is received within ten (10) business days.
Section 5
Limited Obligation
THE OBLIGATIONS OF THE CITY UNDER THIS AGREEMENT, SHALL NOT,
UNDER ANY CIRCUMSTANCES, GIVE RISE TO OR CREATE A CHARGE AGAINST THE
GENERAL CREDIT OR TAXING POWER OF THE CITY OR A DEBT OR OTHER
OBLIGATION OF THE CITY PAYABLE FROM ANY SOURCE OTHER THAN THE
APPLICABLE ASSESSMENT REIMBURSEMENT FUND OR IMPROVEMENT ACCOUNT.
Unless approved by the City, no other City funds, revenues, taxes or income of any kind shall be
used to pay: (1) the Authorized Improvements Costs; (2) any other reimbursable amount
hereunder; or (3) debt service on any Bonds, notwithstanding, in each case, that such amounts are
not paid in full on or before the Maturity Date. NONE OF THE CITY OR ANY OF ITS ELECTED
OR APPOINTED OFFICIALS OR ANY OF ITS OFFICERS, EMPLOYEES, CONSULTANTS
OR REPRESENTATIVES SHALL INCUR ANY LIABILITY HEREUNDER TO DEVELOPER
OR ANY OTHER PARTY IN THEIR INDIVIDUAL CAPACITIES BY REASON OF THIS
AGREEMENT OR THEIR ACTS OR OMISSIONS UNDER THIS AGREEMENT, EXCEPT IN
THE EVENT OF GROSS NEGLIGENCE OR WILLFUL MISCONDUCT COMMITTED BY
ANY SUCH PARTIES.
8
013857.000001\4914-0233-0238.v5
Section 6
Obligation to Pay
If, as to the property which makes up the Improvement Area described in Exhibit IV that
is the subject of this Agreement, each of the applicable Developer and Reimbursee (1) is current
on the payment of all taxes, assessments and fees owed to City, (2) is in then-current compliance
with its obligations under: (a) this Agreement, (b) all Developer continuing disclosure agreements
in the District, (c) the Master Reimbursement Agreement, and (d) the Development Agreement,
and (3) has received no notice of any material default as to such property under the foregoing
agreements that remains uncured; then, following the inspection and approval of any portion of
Authorized Improvements for which Reimbursee seeks reimbursement of Authorized
Improvements Costs by submission of a Certificate for Payment or Closing Disbursement Request,
the obligations of the City under this Agreement to (i) pay, disbursements identified in any
Certificate for Payment or Closing Disbursement Request, and (ii) pay debt service on PID Bonds,
are unconditional and not subject to any defenses or rights of offset except as may be provided in
any Indenture.
Section 7
Representations.
(a) Developer hereby represents to City that:
(i) The execution and delivery of this Agreement and the transactions
contemplated hereby have been duly authorized by Developer;
(ii) This Agreement, the representations and covenants contained herein, and
the consummation of the transactions contemplated hereby shall not violate
or constitute a breach of any contract or other agreement to which
Developer is a party; and
(iii) Developer has the financial resources, or the ability to obtain sufficient
financial resources, to satisfy and comply with Developers obligations
under this Agreement.
(b) The City represents and warrants that this Agreement has been approved by official
action of the City Council in accordance with all applicable public notice requirements (including,
but not limited to, notices required by the Texas Open Meetings Act) and that the individual
executing this Agreement on behalf of the City has been and is duly authorized to do so.
Section 8
Audit
The City and the Developer will comply with the provisions of Section 8 of the Master
Reimbursement Agreement.
Section 9
Indemnity.
DEVELOPER SHALL INDEMNIFY AND HOLD CITY HARMLESS FROM AND
AGAINST ALL LOSSES, COSTS, DAMAGES, EXPENSES, AND LIABILITIES (HEREIN
9
013857.000001\4914-0233-0238.v5
COLLECTIVELY REFERRED TO AS LOSSES) OF WHATSOEVER NATURE,
INCLUDING, BUT NOT LIMITED TO, REASONABLE ATTORNEYS FEES, COSTS OF
LITIGATION, COURT COSTS, AMOUNTS PAID IN SETTLEMENT AND AMOUNTS PAID
TO DISCHARGE JUDGMENTS RELATING TO ANY CLAIM, LAWSUIT, CAUSE OF
ACTION OR OTHER LEGAL ACTION OR PROCEEDING BROUGHT AGAINST CITY OR
TO WHICH CITY MAY BE A PARTY, DIRECTLY OR INDIRECTLY RESULTING FROM,
ARISING OUT OF, OR RELATING TO THE ACQUISITION, PURCHASE OR
CONSTRUCTION OF THE AUTHORIZED IMPROVEMENTS PRIOR TO THE ISSUANCE
OF ANY APPLICABLE MAINTENANCE BOND. IN THE EVENT OF ANY ACTION
BROUGHT AGAINST CITY IN WHICH INDEMNIFICATION BY DEVELOPER IS
APPLICABLE, CITY SHALL PROMPTLY GIVE WRITTEN NOTICE TO DEVELOPER AND
DEVELOPER SHALL ASSUME THE INVESTIGATION AND DEFENSE OF SUCH ACTION,
INCLUDING THE EMPLOYMENT OF COUNSEL AND THE PAYMENT OF ALL
EXPENSES RELATED THERETO. CITY SHALL HAVE THE RIGHT, AT CITYS EXPENSE,
TO EMPLOY SEPARATE COUNSEL AND TO PARTICIPATE IN THE INVESTIGATION
AND DEFENSE OF ANY SUCH ACTION. DEVELOPER SHALL NOT BE LIABLE FOR THE
SETTLEMENT OF ANY SUCH ACTION MADE BY CITY WITHOUT THE CONSENT OF
DEVELOPER; PROVIDED, HOWEVER, IN THE EVENT OF ANY SETTLEMENT
ENTERED INTO WITH THE CONSENT OF DEVELOPER OR OF ANY FINAL JUDGMENT
FOR A PLAINTIFF IN ANY SUCH ACTION, DEVELOPER SHALL INDEMNIFY AND
HOLD CITY HARMLESS FROM AND AGAINST ANY LOSSES INCURRED BY REASON
OF SUCH SETTLEMENT OR JUDGMENT. THE EXPIRATION OF THE TERM OF THIS
AGREEMENT SHALL NOT RELIEVE DEVELOPER FROM ANY LIABILITY HEREUNDER
ARISING PRIOR TO THE EXPIRATION OF THIS AGREEMENT; PROVIDED HOWEVER,
THIS INDEMNITY PROVISION SHALL NOT APPLY TO THE EXTENT OF ANY GROSS
NEGLIGENCE, WILLFUL MISCONDUCT OR UNLAWFUL ACTIONS OF THE CITY.
Section 10
Conflict
10.01 This Agreement constitutes the entire agreement between the Parties with respect
to the subject matter herein, and supersedes all prior agreements, whether oral or written. In the
event of any conflict between the terms of this Agreement, the Master Reimbursement Agreement,
the Development Agreement, the SAP, and the terms of the proceedings authorizing the issuance
of PID Bonds, the conflicting provisions will be construed to the extent possible to give effect to
each. Except where otherwise expressly stated in this Agreement, in the event such conflicting
provisions cannot be reconciled to give all such provisions effect, then the order or priority set
forth below will govern:
(a) The terms of the proceedings authorizing the issuance of PID Bonds, including the
applicable indenture, governs over everything else.
(b) As it pertains to the District, the SAP governs over the IARA.
(c) The IARA governs over the Master Reimbursement Agreement.
(d) This Master Reimbursement Agreement governs over the Development
Agreement.
10
013857.000001\4914-0233-0238.v5
Section 11
Events of Default and Remedies
11.01 Events of Default.
No Party shall be in default under this Agreement until notice of the alleged failure of such
Party to perform, the nature of which is reasonably detailed, has been given in writing as provided
in Section 11.04; however, that the Party receiving such notice must commence curing such
alleged failure no later than thirty (30) days from the date of notice and thereafter diligently and
continuously pursues performance until the alleged failure has been cured.
11.02 Original Owner Default.
(a) Each of the following events shall be an Event of Default by an Original Owner
or its Assignee under this Agreement.
(i) An Original Owner or its Assignee is in Default pursuant to Section 14.2 of
the Development Agreement;
(ii) An Original Owner, Developer, or their Assignee is in default under the
terms of the Master Reimbursement Agreement; and
(iii) Such Party fails to comply in any material respect with any term, provision,
or covenant of this Agreement, the Development Agreement, or Master
Reimbursement Agreement, and does not cure such default in accordance
with Section 11.01.
11.03 City/Board Default.
(a) Each of the following events shall be an Event of Default by the City under this
Agreement:
(i) So long as the applicable Party has complied with the terms and provisions
of this Agreement and is not in default under Section 11.01, the City fails
to pay to such Party any monetary sum hereby required of it as and when
the same become due and payable and does not cure such default in
accordance with Section 11.01;
(ii) The City is in default pursuant to Section 14.3 of the Development
Agreement;
(iii) The City is in default under the terms of Master Reimbursement Agreement;
and
(iv) The City fails to comply in any material respect with any term, provision,
or covenant of this Agreement, the Development Agreement, or the Master
Reimbursement Agreement other than the payment of money, and does not
cure such default in accordance with Section 11.01.
11.04 Remedies.
11
013857.000001\4914-0233-0238.v5
IF A PARTY IS IN DEFAULT, THE AGGRIEVED PARTY MAY, AT ITS OPTION
AND WITHOUT PREJUDICE TO ANY OTHER RIGHT OR REMEDY UNDER THIS
AGREEMENT, SEEK ANY RELIEF AVAILABLE AT LAW OR IN EQUITY, INCLUDING,
BUT NOT LIMITED TO, AN ACTION UNDER THE UNIFORM DECLARATORY
JUDGMENT ACT, SPECIFIC PERFORMANCE, MANDAMUS, AND INJUNCTIVE RELIEF.
NOTWITHSTANDING THE FOREGOING, HOWEVER, NO DEFAULT UNDER THIS
AGREEMENT SHALL:
(a) Entitle the aggrieved Party to terminate this Agreement, the Development
Agreement or the Master Reimbursement Agreement, unless specifically provided in such
agreement.
(b) Entitle the aggrieved Party to suspend performance under this Agreement, other
than the Citys obligation to make reimbursement payments for a specific Improvement Area only
(except as otherwise set forth in Section 3.02(e)), unless the portion of the Property for which
performance is suspended is the subject of the default (for example, the City shall not be entitled
to suspend its performance with regard to the development of Tract X by Owner A based on
the grounds that Owner A is in default with respect to any other tract or that Owner B is in
default).
11.05 No Liability for Actions of Others.
Except as expressly set forth in this Agreement: (i) the liabilities, obligations and
responsibilities of each Original Owner, its authorized Assignee, under this Agreement are several,
and not joint; and (ii) no Original Owner or its Assignee, of any portion of the Property will be in
default under this Agreement or otherwise liable or responsible for any default which is not caused
by such Original Owner or by any person acting by, through or under such Original Owner or
Assignee.
Section 12
MISCELLANEOUS
12.01 Assignment.
(a) This Agreement is binding upon and inures to the benefit of the Original Owners
and their Assignees. The Original Owners or their Assignee may assign their obligations, rights,
or covenants without the prior written consent of, but upon Notice to, the City and Board, as
provided in Section 12.02.
(b) Each assignment must be in writing and executed by the Original Owner and the
Assignee and obligate the Assignee to be bound by this Agreement to the extent rights and
obligations under this Agreement are being assigned. Such assignment will not be effective until
Notice thereof is provided to the City in accordance with Section 12.02. No assignment by an
Original Owner will release such Party from any liability that resulted from an act or omission by
such Party that occurred prior to the effective date of the assignment, unless the City approves the
release in writing. From and after such assignment, the City agrees to look solely to the Assignee
for the performance of all obligations assigned to the Assignee, and agrees that such Assignor will
be released from subsequently performing the assigned obligations and from any liability that
results from the Assignees failure to perform the assigned obligations.
12
013857.000001\4914-0233-0238.v5
(c) Encumbrance by Original Owner and Assignee. Each Original Owner and its
Assignee has the right, from time to time, to collaterally assign, pledge, grant a lien or security
interest in, or otherwise encumber any of its rights, title, or interest under this Agreement for the
benefit of its lenders without the consent of, but with written Notice to, the City. The collateral
assignment, pledge, grant of lien or security interest, or other encumbrance does not, however,
obligate any lender to perform any obligations or incur any liability under this Agreement, unless
the lender agrees in writing to perform such obligations or incur such liability. Provided the City
has been given a copy of the documents creating the lenders interest, including Notice information
for the lender, then that lender has the right, but not the obligation, to cure any default under this
Agreement and be given a reasonable time to do so in addition to the cure periods otherwise
provided to the defaulting Party by this Agreement; and the City agrees to accept a reasonable
cure, offered by the lender as if offered by the defaulting Party. A lender is not a party to this
Agreement unless this Agreement is amended, with the consent of the lender, to add the lender as
a Party. Notwithstanding the foregoing, however, this Agreement will continue to bind the
Property and survive any transfer, conveyance, or assignment occasioned by the exercise of
foreclosure or other rights by a lender, whether judicial or non-judicial. Any purchaser from or
successor Owner through a lender of any portion of the Property will be bound by this Agreement
and will not be entitled to the rights and benefits of this Agreement with respect to the acquired
portion of the Property until all defaults under this Agreement with respect to the acquired portion
of the Property have been cured.
(d) Assignees as Parties. An Assignee authorized in accordance with this Agreement
will be considered a Party for the purposes of this Agreement, but only to the extent of the rights
obligations and benefits assigned. With the exception of an End Buyer, any person or entity, upon
becoming an owner of land within the Property or upon obtaining an ownership interest in any part
of the Property, will be deemed to be a Developer of such Property and have all of the obligations
of a Developer as set forth in this Agreement and all related documents to the extent of said
ownership or ownership interest, but such Developer will not be entitled to any reimbursements
for any Public Improvements, unless such right has been assigned as provided herein.
12.02 Notices.
(a) Any notice, submittal, payment, or instrument required or permitted by this
Agreement to be given or delivered to any party shall be deemed to have been received when
personally delivered or 72 hours following deposit of the same in any United States Post Office,
registered or certified mail, postage prepaid, and addressed as follows:
To the City: City of Fort Worth, Texas
Attn: City Manager
200 Texas Street
Fort Worth, Texas 76102
With a copy to:
City of Fort Worth
Attn: City Attorney
200 Texas Street
Fort Worth Texas, 76102
To Reimbursee: PMB FW Land LP
Attn: Taylor Baird
13
013857.000001\4914-0233-0238.v5
4001 Maple Avenue, Suite 270
Dallas, TX 75219
With a copy to:
Coats Rose
Attn: Tim Green
9 Greenway Plaza, Suite 1000
Houston, TX 77046
To Developer: FW Club LP
Attn: Taylor Baird
4001 Maple Avenue, Suite 270
Dallas, TX 75219
With a copy to:
Coats Rose
Attn: Tim Green
9 Greenway Plaza, Suite 1000
Houston, TX 77046
(b) Any Party may change its address or addresses for delivery of Notice by delivering
written Notice of such change of address to the other Parties.
12.03 Interpretation.
The Parties acknowledge that each has been actively involved in negotiating this
Agreement. Accordingly, the rule of construction that any ambiguities are to be resolved against
the drafting Party will not apply to interpreting this Agreement. In the event of any dispute over
the meaning or application of any provision of this Agreement, the provision will be interpreted
fairly and reasonably and neither more strongly for nor against any Party, regardless of which Party
originally drafted the provision.
12.04 Severability.
This Agreement shall not be modified or amended except as provided herein. If any
provision of this Agreement is determined by a court of competent jurisdiction to be unenforceable
for any reason, then: (a) such unenforceable provision shall be deleted from this Agreement; (b)
the unenforceable provision shall, to the extent possible and upon mutual agreement of the Parties,
be rewritten to be enforceable and to give effect to the intent of the Parties; and (c) the remainder
of this Agreement shall remain in full force and effect and shall be interpreted to give effect to the
intent of the Parties.
12.05 Applicable Law; Venue.
This Agreement is entered into pursuant to, and is to be construed and enforced in
accordance with, the laws of the State of Texas, and all obligations of the Parties are performable
in the county in which the subject property is located. Exclusive venue for any action related to,
arising out of, or brought in connection with this Agreement shall be in Tarrant County, Texas or
the United States District Court for the Northern District of Texas Fort Worth Division.
14
013857.000001\4914-0233-0238.v5
12.06 Non-Waiver.
Any failure by a Party to insist upon strict performance by any other Party of any material
provision of this Agreement shall not be deemed a waiver thereof, and the Party shall have the
right at any time thereafter to insist upon strict performance of any and all provisions of this
Agreement. No provision of this Agreement may be waived except in writing signed by the Party
waiving such provision. Any waiver shall be limited to the specific purposes for which it is given.
No waiver by any Party of any term or condition of this Agreement shall be deemed or construed
to be a waiver of any other term or condition or subsequent waiver of the same term or condition.
12.07 Sovereign Immunity.
City does not waive or surrender any of its governmental powers, immunities or rights
except as necessary to allow Developer to enforce its remedies under this Agreement. The City
acknowledges that to the maximum extent allowed by law, this Agreement shall be considered an
agreement for the providing of goods and services, as provided in Texas Local Government Code,
Section 271.151.
12.08 Further Documents.
Each Party shall, upon request of any other Party, execute and deliver such further
documents and perform such further acts as may reasonably be requested to effectuate the terms
of this Agreement and achieve the intent of the Parties.
12.09 Amendment.
This Agreement shall not be modified or amended except in writing signed by the Parties
hereto. If any provision of this Agreement is determined by a court of competent jurisdiction to be
unenforceable for any reason, then: (a) such unenforceable provision shall be deleted from this
Agreement; (b) the unenforceable provision shall, to the extent possible, be rewritten to be
enforceable and to give effect to the intent of the Parties; and (c) the remainder of this Agreement
shall remain in full force and effect and shall be interpreted to give effect to the intent of the Parties.
12.10 Authority; Enforceability.
The City represents and warrants that this Agreement has been approved by appropriate
official action and that the individual executing this Agreement on behalf of the City has been and
is duly authorized to do so. Each Original Owner, Developer and Assignee executing this
Agreement represents and warrants that this Agreement has been approved by appropriate action
of such Party, and that each individual executing this Agreement on behalf of such Party has been
and is duly authorized to do so. Each Party to this Agreement respectively acknowledges and
agrees that this Agreement is binding upon such Party and is enforceable against such Party, in
accordance with its terms and conditions and to the extent permitted by law.
12.11 Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be
deemed an original and constitute one and the same instrument. Delivery of an executed
15
013857.000001\4914-0233-0238.v5
counterpart of a signature page of this Agreement by telecopy or other electronic imaging means
shall be effective as delivery of a manually executed counterpart of this Agreement.
12.12 City Council Exercise of Legislative Discretion.
Notwithstanding any other provisions hereof, nothing in this Agreement shall be construed
as a contractual obligation that controls, waives or supplements the City Councils legislative
discretion relative to the subject matter herein.
12.13 Force Majeure.
Each Party shall use good faith, due diligence and reasonable care in the performance of
its respective obligations under this Agreement, and time shall be of the essence in such
performance. However, in the event a Party is unable, due to Force Majeure, to perform its
obligations under this Agreement, then the obligations affected by the Force Majeure shall be
temporarily suspended. Within thirty (30) days after the occurrence of a Force Majeure, the Party
claiming the right to temporarily suspend its performance shall give Notice to all Parties, including
a detailed explanation of the Force Majeure and a description of the action that will be taken to
remedy the Force Majeure and resume full performance at the earliest possible time. As used
herein, Force Majeure means, and shall include without limitation, acts of God; strikes; lockouts;
or other industrial disturbances; acts of a public enemy; acts or orders of any kind of the
Government of the United States or the State of Texas, or any civil or military authority;
insurrection; riots; epidemics; pandemics; quarantine; viral outbreaks; landslides; lightning;
earthquake; fires; hurricanes; tornadoes; storms; floods; washouts; droughts; arrests; restraint of
government and people; civil disturbances; explosions; breakage or accidents to machinery,
pipelines, or canals; partial or entire failure of water supply; or other acts, events, causes, or
circumstances not within the reasonable control of the Party claiming such inability and that could
not have been avoided by such Party with the exercise of good faith, due diligence, and reasonable
care
12.14 No Boycott of Israel.
Each of Developer and Reimbursee hereby verifies that it and its respective affiliates do
not boycott Israel and will not boycott Israel during the term of this Agreement. The foregoing
verification is made solely to enable the Cities and/or the Board to comply with Section 2271.002,
Texas Government Code, and to the extent such Section does not contravene applicable federal
law. As used in the foregoing verification, boycott Israel means refusing to deal with, terminating
business activities with, or otherwise taking any action that is intended to penalize, inflict
economic harm on, or limit commercial relations specifically with Israel, or with a person or entity
doing business in Israel or in an Israeli-controlled territory, but does not include an action made
for ordinary business purposes, and affiliate of Developer and Reimbursee means any for-profit
sole proprietorship, organization, association, partnership, joint venture, limited partnership,
limited liability partnership, or limited liability company that owns all or a majority in interest of
each Developer and Reimbursee as well as any wholly- or majority-owned subsidiary of or other
entity that controls, is controlled by, or is under common control with Developer or Reimbursee
and exists to make a profit.
12.15 12.15 Iran, Sudan and Foreign Terrorist Organizations.
16
013857.000001\4914-0233-0238.v5
(a) Each of Developer and Reimbursee hereby verifies that neither it, nor any parent
company, wholly- or majority-owned subsidiary, or other affiliate of such Developer and
Reimbursee is a company identified on a list prepared and maintained by the Texas Comptroller
of Public Accounts under Section 2252.153 or Section 2270.0201, Texas Government Code, and
posted on any of the following pages of such officers internet website:
https://comptroller.texas.gov/purchasing/docs/sudan-list.pdf,
https://comptroller.texas.gov/purchasing/docs/iran-list.pdf, or
https://comptroller.texas.gov/purchasing/docs/fto-list.pdf.
(b) The foregoing representation is made solely to comply with Section 2252.152,
Texas Government Code, and to the extent such Section does not contravene applicable federal
law and excludes each Developer and Reimbursee and each of its parent company, wholly- or
majority-owned subsidiaries, and other affiliates, if any, that the United States government has
affirmatively declared to be excluded from its federal sanctions regime relating to Sudan or Iran
or any federal sanctions regime relating to a foreign terrorist organization. Each of the Developer
and Reimbursee understands affiliate to mean any entity that controls, is controlled by, or is
under common control with the Developer and Reimbursee and exists to make a profit.
12.16 Verification Regarding Energy Company Boycotts.
(a) Each of Developer and Reimbursee hereby verifies that it and its parent company,
wholly- or majority-owned subsidiaries, and other affiliates, if any, do not boycott energy
companies and will not boycott energy companies during the term of this Agreement. The
foregoing verification is made solely to enable the City to comply with such Section and to the
extent such Section does not contravene applicable Federal or Texas law. As used in the foregoing
verification, boycott energy companies, a term defined in Section 2274.001(1), Texas
Government Code (as enacted by such Senate Bill) by reference to Section 809.001, Texas
Government Code (also as enacted by such Senate Bill), shall mean, without an ordinary business
purpose, refusing to deal with, terminating business activities with, or otherwise taking any action
that is intended to penalize, inflict economic harm on, or limit commercial relations with a
company because the company (A) engages in the exploration, production, utilization,
transportation, sale, or manufacturing of fossil fuel-based energy and does not commit or pledge
to meet environmental standards beyond applicable federal and state law; or (B) does business
with a company described by (A) above. As used in this Section each Developer and Reimbursee
understands affiliate to mean an entity that controls, is controlled by, or is under common control
with the respective Developer or Reimbursee and exists to make a profit.
(b) Each Developer or Reimbursee for whom a verification is required of the
verifications described by Section 2274.002 (as added by Senate Bill 13 in the 87th Texas
Legislature, Regular Session), Texas Government Code, as amended, shall provide such
verifications in a form acceptable to the Attorney General of the State of Texas.
12.17 12.17 Verification Regarding Discrimination Against Firearm Entity or Trade
Association.
(a) Each of Developer and Reimbursee hereby verifies that it and its parent company,
wholly- or majority-owned subsidiaries, and other affiliates, if any, do not have a practice, policy,
guidance, or directive that discriminates against a firearm entity or firearm trade association and
will not discriminate against a firearm entity or firearm trade association during the term of this
17
013857.000001\4914-0233-0238.v5
Agreement. The foregoing verification is made solely to enable the City to comply with such
Section and to the extent such Section does not contravene applicable Federal or Texas law. As
used in this Section each of the Developer and Reimbursee understands affiliate to mean an entity
that controls, is controlled by, or is under common control with the respective Developer or
Reimbursee and exists to make a profit.
(b) As used in the foregoing verification and the following definitions,
(i) discriminate against a firearm entity or firearm trade association, a term
defined in Section 2274.001(3), Texas Government Code (as enacted by
such Senate Bill), (A) means, with respect to the firearm entity or firearm
trade association, to (i) refuse to engage in the trade of any goods or services
with the firearm entity or firearm trade association based solely on its status
as a firearm entity or firearm trade association, (ii) refrain from continuing
an existing business relationship with the firearm entity or firearm trade
association based solely on its status as a firearm entity or firearm trade
association, or (iii) terminate an existing business relationship with the
firearm entity or firearm trade association based solely on its status as a
firearm entity or firearm trade association and (B) does not include (i) the
established policies of a merchant, retail seller, or platform that restrict or
prohibit the listing or selling of ammunition, firearms, or firearm
accessories and (ii) a companys refusal to engage in the trade of any goods
or services, decision to refrain from continuing an existing business
relationship, or decision to terminate an existing business relationship (aa)
to comply with federal, state, or local law, policy, or regulations or a
directive by a regulatory agency or (bb) for any traditional business reason
that is specific to the customer or potential customer and not based solely
on an entitys or associations status as a firearm entity or firearm trade
association,
(ii) firearm entity, a term defined in Section 2274.001(6), Texas Government
Code (as enacted by such Senate Bill), means a manufacturer, distributor,
wholesaler, supplier, or retailer of firearms (defined in Section 2274.001(4),
Texas Government Code, as enacted by such Senate Bill, as weapons that
expel projectiles by the action of explosive or expanding gases), firearm
accessories (defined in Section 2274.001(5), Texas Government Code, as
enacted by such Senate Bill, as devices specifically designed or adapted to
enable an individual to wear, carry, store, or mount a firearm on the
individual or on a conveyance and items used in conjunction with or
mounted on a firearm that are not essential to the basic function of the
firearm, including detachable firearm magazines), or ammunition (defined
in Section 2274.001(1), Texas Government Code, as enacted by such Senate
Bill, as a loaded cartridge case, primer, bullet, or propellant powder with or
without a projectile) or a sport shooting range (defined in Section 250.001,
Texas Local Government Code, as a business establishment, private club,
or association that operates an area for the discharge or other use of firearms
for silhouette, skeet, trap, black powder, target, self-defense, or similar
recreational shooting), and
18
013857.000001\4914-0233-0238.v5
(iii)firearm trade association, a term defined in Section 2274.001(7), Texas
Government Code (as enacted by such Senate Bill), means any person,
corporation, unincorporated association, federation, business league, or
business organization that (i) is not organized or operated for profit (and
none of the net earnings of which inures to the benefit of any private
shareholder or individual), (ii) has two or more firearm entities as members,
and (iii) is exempt from federal income taxation under Section 501(a),
Internal Revenue Code of 1986, as an organization described by Section
501(c) of that code.
Each Developer or Reimbursee for whom a verification is required of the verifications
described by Section 2274.002 (as added by Senate Bill 19 in the 87th Texas Legislature, Regular
Session), Texas Government Code, as amended, shall provide such verifications in a form
acceptable to the Attorney General of the State of Texas.
12.18 Notwithstanding anything contained herein, the representations and covenants
contained in Section 12.14-12.17 will survive the termination of this Agreement until the statute
of limitations has run.
12.19 Compliance with Laws
The Parties agrees that, in the performance of its obligations hereunder, it will comply with
all applicable federal, state and local laws, ordinances, rules and regulations.
12.20 Electronic Signatures
This Agreement may be executed by electronic signature, which will be considered as an
original signature for all purposes and have the same force and effect as an original signature. For
these purposes, electronic signature means electronically scanned and transmitted versions (e.g.
via pdf file or facsimile transmission) of an original signature, or signatures electronically inserted
via software such as Adobe Sign.
12.21 Headings Not Controlling
Headings and titles used in this Agreement are for reference purposes only and will not be
deemed a part of this Agreement.
[Signature Page Follows]
19
013857.000001\4914-0233-0238.v5
EXECUTED BY THE PARTIES TO BE EFFECTIVE ON THE EFFECTIVE DATE:
CITY OF FORT WORTH, TEXAS
By: _____________________________________
Name:___________________________________
Title: Assistant City Manager
Date:____________________________________
ATTEST:
By: _________________________________
Name:_______________________________
Title: City Secretary
APPROVED AS TO FORM AND LEGALITY:
By: __________________________________
Name:________________________________
Title: Assistant City Attorney
THE STATE OF TEXAS §
COUNTY OF TARRANT §
This instrument was acknowledged before me on the day _______ of
____________________, 2026, by _______________________________, the Assistant City
Manager of the City of Fort Worth, Texas, on behalf of said City.
(SEAL)
______________________________________
Notary Public, State of Texas
20
013857.000001\4914-0233-0238.v5
DEVELOPER:
FW CLUB LP, a Texas limited partnership
By: PMB DLC FW GP, LLC, a Delaware
limited liability company, its General
Partner
By:__________________________________
Name: _______________________________
Title: ________________________________
THE STATE OF TEXAS §
COUNTY OF TARRANT §
This instrument was acknowledged before me on the day _______ of ________________,
2026, by ____________________________, ____________________________ of PMB DLC
FW GP, LLC, a Delaware limited liability company, in its capacity as General Partner of FW
CLUB LP, a Texas limited partnership, on behalf of said limited partnership.
(SEAL)
______________________________________
Notary Public, State of Texas
21
013857.000001\4914-0233-0238.v5
REIMBURSEE:
PMB FW LAND LP, a Texas limited partnership
By: PMB Veale Land Investors 1 GP LLC, a Texas
limited liability company, its General Partner
By:__________________________________
Name: _______________________________
Title: ________________________________
THE STATE OF TEXAS §
COUNTY OF TARRANT §
This instrument was acknowledged before me on the day _______ of ________________,
2026, by ____________________________, ____________________________ of PMB Veale
Land Investors 1 GP LLC, a Texas limited liability company, in its capacity as General Partner of
PMB FW LAND LP, a Texas limited partnership, on behalf of said limited partnership.
(SEAL)
______________________________________
Notary Public, State of Texas
22
013857.000001\4914-0233-0238.v5
Exhibit I
Legal Description of Improvement Area Number 4
BEING A 421.082-ACRE TRACT OF LAND SITUATED IN THE D. T. FINLEY SURVEY,
ABSTRACT NO. 1901, THEODORE FINLEY SURVEY, ABSTRACT NO. 1878, T. F.
RODGERS SURVEY, ABSTRACT NO. 1357, ELIZABETH LANGSTON SURVEY,
ABSTRACT NO. 988, T & N.O. RR CO. SURVEY, ABSTRACT NO. 1565, AND BEING A
PORTION OF THAT TRACT OF LAND DESCRIBED TO FW CLUB LP BY DEED
RECORDED IN COUNTY CLERK FILE NO. D224085431 AND A PORTION OF THAT
TRACT OF LAND DESCRIBED TO PMB ROLLING V SOUTH LAND LP BY DEED
RECORDED IN COUNTY CLERK FILE NO. D223038385 OF THE OFFICIAL PUBLIC
RECORDS OF TARRANT COUNTY, TEXAS, AND BEING MORE PARTICULARLY
DESCRIBED BY METES AND BOUNDS AS FOLLOWS:
BEGINNING AT A 5/8-INCH CAPPED IRON ROD STAMPED LJA SURVEYING SET
(HEREINAFTER REFERRED TO AS SET IRON ROD) ON THE NORTHWESTERN
RIGHT-OF-WAY LINE OF BENBROOK BOULEVARD / US HIGHWAY 377 SOUTH (A
VARIABLE WIDTH RIGHT-OF-WAY), FROM WHICH A 1-INCH IRON ROD FOUND
FOR THE EASTERNMOST CORNER OF LOT 10, BLOCK 35 OF BELLA FLORA PHASE
10, AN ADDITION TO TARRANT COUNTY, TEXAS AS SHOWN BY PLAT RECORDED
IN COUNTY CLERK FILE NO. D221350274 OF SAID OFFICIAL PUBLIC RECORDS
BEARS SOUTH 47°57'57" WEST, A DISTANCE OF 719.57 FEET;
THENCE OVER AND ACROSS SAID PMB ROLLING V SOUTH LAND LP TRACT,
THE FOLLOWING COURSES AND DISTANCES:
NORTH 02°35'06" EAST, A DISTANCE OF 14.05 FEET TO A SET IRON ROD;
NORTH 42°47'44" WEST, A DISTANCE OF 44.89 FEET TO A SET IRON ROD FOR THE
BEGINNING OF A CURVE TO THE RIGHT HAVING A RADIUS OF 817.00 FEET, AND A
CHORD THAT BEARS
NORTH 37°51'06" WEST, 140.82 FEET;
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 09°53'16", AN
ARC-DISTANCE OF 140.99 FEET TO A SET IRON ROD;
NORTH 32°54'28" WEST, A DISTANCE OF 100.32 FEET TO A SET IRON ROD FOR THE
BEGINNING OF A CURVE TO THE LEFT, HAVING A RADIUS OF 707.00 FEET, AND
A CHORD THAT BEARS NORTH 65°59'02" WEST, 771.70 FEET;
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 66°09'10", AN
ARC-DISTANCE OF 816.29 FEET TO A SET IRON ROD ON THE SOUTH LINE OF SAID
FW CLUB LP TRACT;
THENCE SOUTH 47°59'24" WEST, WITH SAID SOUTH LINE, A DISTANCE OF
650.35 FEET TO A SET IRON ROD;
23
013857.000001\4914-0233-0238.v5
THENCE OVER AND ACROSS SAID FW CLUB LP TRACT THE FOLLOWING COURSES
AND DISTANCES:
NORTH 48°30'20" WEST, A DISTANCE OF 224.30 FEET TO A SET IRON ROD AT THE
BEGINNING OF A NON-TANGENT CURVE TO THE RIGHT HAVING A RADIUS OF
173.00 FEET AND A CHORD THAT BEARS SOUTH 70°56'47" WEST, 112.95 FEET;
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 38°06'26", AN
ARC-DISTANCE OF 115.06 FEET TO A SET IRON ROD;
WEST, A DISTANCE OF 365.34 FEET TO A SET IRON ROD;
NORTH 35°40'44" WEST, A DISTANCE OF 2,234.12 FEET TO A SET IRON ROD;
NORTH 81°00'15" WEST, A DISTANCE OF 1,573.98 FEET TO A SET
IRON ROD; NORTH 76°19'21" WEST, A DISTANCE OF 107.04 FEET TO
A SET IRON ROD;
NORTH 49°27'05" WEST, A DISTANCE OF 40.36 FEET TO A SET IRON ROD FOR THE
BEGINNING OF A NON-TANGENT CURVE TO THE RIGHT, HAVING A RADIUS OF
618.00 FEET, AND A CHORD THAT BEARS NORTH 43°57'09" EAST, 73.39 FEET;
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 06°48'29", AN
ARC-DISTANCE OF 73.43 FEET TO A SET IRON ROD FOR THE BEGINNING OF A
REVERSE CURVE TO THE LEFT, HAVING A RADIUS OF 792.00 FEET, AND A CHORD
THAT BEARS NORTH 42°25'22" EAST, 136.23 FEET;
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 09°52'04", AN
ARC-DISTANCE OF 136.40 FEET TO A SET IRON ROD FOR THE BEGINNING OF A
REVERSE CURVE TO THE RIGHT, HAVING A RADIUS OF 672.90 FEET, AND A
CHORD THAT BEARS NORTH 39°46'51" EAST, 16.36 FEET;
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 01°23'34", AN
ARC-DISTANCE OF 16.36 FEET TO A SET IRON ROD FOR THE BEGINNING OF A
COMPOUND CURVE TO THE RIGHT, HAVING A RADIUS OF 475.59 FEET, AND A
CHORD THAT BEARS NORTH 44°08'41" EAST, 165.75 FEET;
WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 20°04'16", AN
ARC-DISTANCE OF 166.60 FEET TO A SET IRON ROD;
SOUTH 15°22'58" EAST, A DISTANCE OF 135.83 FEET TO A SET
IRON ROD; NORTH 74°37'02" EAST, A DISTANCE OF 630.00 FEET
TO A SET IRON ROD; SOUTH 86°23'54" EAST, A DISTANCE OF
115.70 FEET TO A SET IRON ROD; SOUTH 79°37'25" EAST, A
24
013857.000001\4914-0233-0238.v5
DISTANCE OF 184.75 FEET TO A SET IRON ROD; NORTH 50°49'59"
EAST, A DISTANCE OF 184.81 FEET TO A SET IRON ROD; NORTH
13°20'55" WEST, A DISTANCE OF 170.00 FEET TO A SET IRON ROD;
NORTH 63°31'55" EAST, A DISTANCE OF 541.02 FEET TO A SET
IRON ROD; NORTH 45°52'19" EAST, A DISTANCE OF 221.60 FEET
TO A SET IRON ROD; SOUTH 50°22'10" EAST, A DISTANCE OF
150.00 FEET TO A SET IRON ROD; NORTH 42°43'19" EAST, A
DISTANCE OF 425.62 FEET TO A SET IRON ROD; NORTH 39°37'50"
EAST, A DISTANCE OF 85.00 FEET TO A SET IRON ROD; NORTH
34°23'51" EAST, A DISTANCE OF 274.70 FEET TO A SET IRON ROD;
NORTH 81°12'46" EAST, A DISTANCE OF 406.70 FEET TO A SET
IRON ROD;
THENCE NORTH 00°32'23" WEST, PASSING A SET IRON ROD FOR REENTRANT
CORNER ON THE NORTHERLY LINE OF SAID FW CLUB LP TRACT AT 184.60 FEET
AND CONTINUING WITH SAID NORTHERLY LINE A TOTAL DISTANCE OF 907.40
FEET TO A SET IRON ROD;
THENCE CONTINUING WITH THE NORTHERLY LINE OF SAID FW CLUB LP
TRACT THE FOLLOWING COURSES AND DISTANCES:
NORTH 89°27'34" EAST, A DISTANCE OF 444.62 FEET TO A SET
IRON ROD; SOUTH 24°54'16" EAST, A DISTANCE OF 164.11 FEET
TO A SET IRON ROD; SOUTH 07°05'06" EAST, A DISTANCE OF
246.75 FEET TO A SET IRON ROD; EAST, A DISTANCE OF 628.83
FEET TO A SET IRON ROD;
NORTH 60°24'29" EAST, A DISTANCE OF 780.16 FEET TO A SET
IRON ROD; NORTH 32°45'42" WEST, A DISTANCE OF 102.90 FEET
TO A SET IRON ROD; NORTH 14°56'25" EAST, A DISTANCE OF
122.85 FEET TO A SET IRON ROD; NORTH 46°56'31" EAST, A
DISTANCE OF 1,061.55 FEET TO A SET IRON ROD;
25
013857.000001\4914-0233-0238.v5
NORTH 89°38'01" EAST, A DISTANCE OF 1,065.53 FEET TO A SET IRON ROD FOR THE
NORTHEAST CORNER OF SAID FW CLUB LP TRACT;
THENCE WITH THE EASTERLY AND SOUTHERLY LINES OF SAID FW CLUB
LP TRACT THE FOLLOWING COURSES AND DISTANCES:
SOUTH 00°22'06" EAST, A DISTANCE OF 187.48 FEET TO A SET
IRON ROD; NORTH 89°38'01" EAST, A DISTANCE OF 19.77 FEET
TO A SET IRON ROD;
SOUTH 00°22'06" EAST, A DISTANCE OF 3,480.72 FEET TO A SET IRON ROD FOR THE
EAST COMMON CORNER OF SAME TRACT AND A TRACT OF LAND DESCRIBED TO
PMB ROLLING V SOUTH LAND LP BY DEED RECORDED IN COUNTY CLERK FILE
NO. D223038386 OF SAID OFFICIAL PUBLIC RECORDS;
SOUTH 89°57'02" WEST, A DISTANCE OF 1,016.95 FEET TO A SET IRON ROD;
SOUTH 47°12'16" WEST, A DISTANCE OF 1,105.20 FEET TO A SET IRON ROD FOR THE
BEGINNING OF A CURVE TO THE LEFT, HAVING A RADIUS OF 1,750.00 FEET, AND
A CHORD THAT BEARS SOUTH 34°23'46" WEST, 775.92 FEET;
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 25°37'01", AN
ARC-DISTANCE OF 782.43 FEET TO A SET IRON ROD FOR THE BEGINNING OF A
NON-TANGENT CURVE TO THE RIGHT, HAVING A RADIUS OF 817.00 FEET, AND A
CHORD THAT BEARS SOUTH 55°00'01" EAST,
614.55 FEET;
THENCE OVER AND ACROSS SAID PMB ROLLING V SOUTH LAND LP TRACT AS
DESCRIBED BY DEED RECORDED IN COUNTY CLERK FILE NO. D223038385 THE
FOLLOWING COURSES AND DISTANCES:WITH SAID CURVE TO THE RIGHT,
THROUGH A CENTRAL ANGLE OF 44°11'06", AN ARC-DISTANCE OF 630.05 FEET TO
A SET IRON ROD;
SOUTH 32°54'28" EAST, A DISTANCE OF 100.32 FEET TO A SET IRON ROD; TO THE
BEGINNING OF A CURVE TO THE LEFT, HAVING A RADIUS OF 707.00 FEET, AND A
CHORD THAT BEARS SOUTH 37°51'06" EAST, 121.86 FEET;
WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 09°53'16", AN
ARC-DISTANCE OF 122.01 FEET TO A SET IRON ROD;
SOUTH 42°47'44" EAST, A DISTANCE OF 46.35 FEET TO A SET IRON ROD;
SOUTH 87°24'54" EAST, A DISTANCE OF 14.24 FEET TO A SET IRON ROD ON THE
NORTHWESTERN RIGHT-OF-WAY LINE OF SAID BENBROOK BOULEVARD;
26
013857.000001\4914-0233-0238.v5
THENCE SOUTH 47°57'57" WEST, WITH SAID NORTHWESTERN RIGHT-OF-WAY
LINE, A DISTANCE OF
130.01 FEET TO THE POINT OF BEGINNING AND CONTAINING A CALCULATED
AREA OF 421.082 ACRES (18,342,393 SQ. FEET) OF LAND.
27
013857.000001\4914-0233-0238.v5
EXHIBIT II
28
013857.000001\4914-0233-0238.v5
29
013857.000001\4914-0233-0238.v5
30
013857.000001\4914-0233-0238.v5
31
013857.000001\4914-0233-0238.v5
32
013857.000001\4914-0233-0238.v5
33
013857.000001\4914-0233-0238.v5
EXHIBIT III
34
013857.000001\4914-0233-0238.v5
35
013857.000001\4914-0233-0238.v5
36
013857.000001\4914-0233-0238.v5
37
013857.000001\4914-0233-0238.v5
38
013857.000001\4914-0233-0238.v5
39
013857.000001\4914-0233-0238.v5
40
013857.000001\4914-0233-0238.v5
Exhibit IV
Description of Authorized Improvements and Budgeted Costs
Description of Authorized Improvements
Roadway Improvements
The road improvement portion of the Improvement Area #4 Improvements consists of the
acquisition, construction, improvement, widening, narrowing, closing and re-routing of streets,
roadways, bridges and arterials and include, subgrade stabilization (including lime treatment and
compaction), concrete, asphalt or other applicable material, curbs, gutters, sidewalks, barrier free
ramps, signage, traffic control devices and wayfinding, landscaping and irrigation, re-vegetation
of disturbed areas within and for the right of way, retaining walls within and for the right of way,
all related earthwork and excavation, and the fair market value of any right-of-way dedication to
the City which benefit the Improvement Area #4 Assessed Property. Roadway improvements also
include, if necessary, any TxDOT (the TxDOT) turn lanes or TxDOT signalization at US 377 &
Bear Creek Parkway or other locations and the necessary infrastructure, requirements, permitting,
and other necessary work related to TxDOT. All roadway projects will be designed and constructed
in accordance with City and/or other applicable governmental jurisdiction standards and
specifications, including the Fort Worth Master Throughfare Plan (the Master Throughfare
Plan), and will be owned and operated by the City and/or other applicable governmental
jurisdictions. Local residential streets, as defined by the Master Throughfare Plan will not be an
Authorized Improvement.
Water Improvements
The water improvements portion of the Improvement Area #4 Improvements consists of
acquisition, construction, improvement and installation of water and reclaimed water supply lines
and related facilities and equipment, which includes waterlines (excluding waterlines 8 or less
and serving residential area), valves, vaults, fire hydrants, trench safety, testing, related earthwork
and excavation, appurtenances, and the fair market value of any easements granted to the City
necessary for the portion of the water distribution system that will service the Improvement Area
#4 Assessed Property, including improvements that are off-site. The water improvements will be
designed and constructed in accordance with City standards and specifications and will be owned
and operated by the City.
Sanitary Sewer Improvements
The sanitary sewer improvement portion of the Improvement Area #4 Improvements consists of
acquisition, construction, improvement and installation of various sized sanitary sewer pipes
(excluding lines 8 or less and serving residential area), service lines, force main(s), lift station(s),
and related facilities and equipment which include, manholes, encasements, pumps, trench safety,
41
013857.000001\4914-0233-0238.v5
testing, related earthwork and excavation, appurtenances, and the fair market value of any
easements granted to the City necessary to provide sanitary sewer service to Improvement Area #4
Assessed Property, including improvements that are offsite. The sanitary sewer improvements will
be designed and constructed in accordance with City standards and specifications and will be
owned and operated by the City.
Storm Drainage Improvements
The storm drainage improvement portion of the Improvement Area #4 Improvements consists of
the acquisition, construction, improvement and installation of stormwater drainage and detention
improvements and related facilities and equipment which include, storm pipes (all applicable
material), storm boxes, multi-reinforced box culverts, junction boxes, inlets, headwalls, trench
safety, testing, related earthwork and excavation and erosion control, appurtenances, and the fair
market value of any easements granted to the City necessary to provide adequate drainage to the
Improvement Area #4 Assessed Property, including improvements that are offsite. Storm drainage
improvements further include, if necessary, any drainage infrastructure within TxDOT turn lanes
at US 377 & Bear Creek Parkway or other locations and the necessary infrastructure, requirements,
permitting, and other necessary work related to TxDOT. The storm drainage collection system
improvements will be designed and constructed in accordance with City standards and
specifications and will be owned and operated by the City.
Public Landscaping and Trails
The public landscaping and trail improvements of the Improvement Area #4 Improvements
consist of the planting and construction of supplemental landscaping such as parks, ponds, lakes,
open spaces, entry features and areas, which include, sitting stations, benches, shaded structure(s),
hardscape such as walls, statues and monuments, landscaping, plantings, and irrigation, fountains,
playgrounds, athletic facilities, pavilions, lighting and paved parking spaces, which benefit the
Improvement Area #4 Assessed Property. The landscaping improvements will be designed
according to City standards and will be available for public use.
Other Soft and Miscellaneous Costs
The soft and miscellaneous costs portion of the Improvement Area #4 Improvements consists of
all costs related to designing, construction, installing, and financing the Authorized Improvements
including engineering and surveying, land planning and design, project and construction
management fees, City fees (including inspection fees, IPRC engineering plan review fees,
administrative material testing costs, water lab testing fees, permit fees, development fees, capacity
fees and per acre charges), material testing, appraisal, legal and issuance costs, contingency, and
other related soft and miscellaneous costs.
ROADWAY IMPROVEMENTS
$3,212,
WATER IMPROVEMENTS
$4,792,
SEWER IMPROVEMENTS
$1,502,
STORM DRAINAGE IMPROVEMENTS
$289,
PUBLIC LANDSCAPING, TRAILS AND PARKS
$675,
OTHER SOFT AND MISCELLANEOUS COSTS
$2,927,
TOTAL AUTHORIZED IMPROVEMENTS
$13,399,
# OF LOTS
PID ELIGIBLE COSTS PER LOT
598.
43
013857.000001\4914-0233-0238.v5
Schedule A to Exhibit IV
Development Schedule
Public Improvements Start Date: Q4 2024
Projected Public Improvements End Date: Q2 2026
Projected Vertical Improvements Start Date: Q2 2026
Projected Vertical Improvements End Date: Q4 2033
44
013857.000001\4914-0233-0238.v5
Schedule B to Exhibit IV
Engineers Report(s)
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Furnish/Install Electric Service Pedestal (Traffic Signal)
EA
1.00
$15,500.00
$15,500.00
1 2" Conduit PVC SCH 80 (T)
LF
51.00
$38.00
$1,938.00
13" Conduit PVC SCH 80 (T)
LF
152.00
$40.00
$6,080.00
13" Conduit PVC SCH 80 (B)
LF
132.00
$88.00
$11,616.00
14" Conduit PVC SCH 80 (T)
LF
12.00
$44.00
$528.00
14" Conduit PVC SCH 80 (B)
LF
442.00
$92.00
$40,664.00
1 Furnish/Install 3-Sect Signal Head
EA
13.00
$2,850.00
$37,050.00
Furnish/Install 5-Sect Signal Head
EA
1.00
$4,950.00
$4,950.00
Furnish/Install Ped Singal Head Assembly
EA
2.00
$2,000.00
$4,000.00
jAudible Pedestrian Pushbutton Station
EA
2.00
$6,500.00
$13,000.00
Furnish/Install BBU System EXT Mounted
EA
1.00
$11,500.00
$11,500.00
Furnish/Install Hybrid Detection System
EA
5.00
$13,000.00
$65,000.00
Furnish/Install Model 711 Preemption
LF
3.00
$4,000.00
$12,000.00
Furnish/Install Preemption Cable
EA
822.00
$5.00
$4,110.00
Furnish/Install PTZ Camera
EA
1.00
$11,500.00
$11,500.00
Furnish/Install Communication Modem
LF
1.00
$5,500.00
$5,500.00
Furnish/Install CATS Ethernet Cable
LF
1,600.00
$5.00
$8,000.00
I5/C 14AWG Multi -Conductor Cable
LF
20.00
$5.00
$100.00
17/C 14 AWG Multi -Conductor Cable
LF
705.00
$6.00
$4,230.00
110/C 14 AWG Multi -fond uctor Cable
LF
218.00
$7.00
$1,526.00
120/C 14 AWG Multi-Cond uctor Cable
LF
1,155.00
$11.00
$12,705.00
13/C 14 AWG Multi -Conductor Cable
LF
228.00
$5.00
$1,140.00
NO 6 Insulated Electric Condr
LF
36.00
$5.00
$180.00
ENO SO Insulated Electric Condr
LF
1,888.00
$3.00
$5,664.00
ENO 6 Bare Electric Condr SLD
LF
18.00
$5.00
$90.00
ENO B Bare Electric Condor SLD
LF
771.00
$4.00
$3,084.00
Furnish/Install Ground Box Type D, w/Apron
EA
8.00
$4,000.00
$32,000.00
Furnish/Install 10'-20' Ped Pole Assembly
LF
1.00
$4,500.00
$4,500.00
Furnish/Install Type 41 Signal Pole
EA
2.00
$15,500.00
$31,000.00
Furnish/Install Type 43 Signal Pole
EA
1.00
$19,000.00
$19,000.00
Furnish/Install Type 45 Signal Pole
EA
2.00
$19,500.00
$39,000.00
Furnish/Install Mast Arm 16'-36'
EA
2.00
$10,000.00
$20,000.00
Furnish/Install Mast Arm 40'-48'
EA
1.00
$11,000.00
$11,000.00
Furnish/Install Mast Arm 52'-60'
EA
2.00
$14,000.00
$28,000.00
STY I Signal Foundation
EA
1.00
$6,500.00
$6,500.00
STY 3 Signal Foundation
EA
2.00
$8,000.00
$16,000.00
STY 4 Signal Foundation
EA
1.00
$8,500.00
$8,500.00
STY S Signal Foundation
EA
2.00
$9,000.00
$18,000.00
Signal Cabinet Foundation - 352i & BBU
EA
1.00
$7,800.00
$7,800.00
Furnish/Install ATC Signal Controller
EA
1.00
$6,800.00
$6,800.00
Furnish/Install 352i Controller Cabinet Assembly
EA
1.00
$32,000.00
$32,000.00
Furnish/Install LED Lighting Fixture (137 Watt ATB2 Cobra Head)
EA
5.00
$1,100.00
$5,500.00
Furnish/Install Alum Sign Mast Arm Mount
EA
16.00
$1,000.00
$16,000.00
Furnish/Install Alum Sign Ground Mount City Std.
EA
6.00
$1,000.00
$6,000.00
JIN SM RD SUP&AM TYIOBWG(1)SA(P)
EA
6.00
$500.00
$3,000.00
Remove Existing Wire Fence
LF
188.00
$6.00
$1,128.00
jPost & Cable Fence (Remove)
LF
80.00
$10.00
$800.00
lConcrete Sidewalks (5")
SY
15.00
$62.00
$930.00
Plane Asphalt Concrete Pavement (1")
SY
1,515.00
$32.00
$48,480.00
AFL BS(CMP In Place)(TY A GR I-2)(10")
SY
1,515.00
$115.00
$174,225.00
Lime Treatment(Subgrade)(6")
SY
2,075.00
$9.00
$18,675.00
lConcrete Pavement(CONT REINF - CRCP)(8")
SY
560.00
$102.00
$57,120.00
STY 21 Comb Island Ramp
EA
1.00
$4,000.00
$4,000.00
STY 1 Perpendicular Curb Ramp
EA
2.00
$4,500.00
$9,000.00
1 Plane Asphalt Concrete Pavement (1") (Change Order 1)
SY
(1,515.00)
$32.00
($48,480.00)
STY-B Asphalt Pavement (5") (Change Order 1)
SY
1,933.00
$54.00
$104,382.00
STY-C Asphalt Pavement (3") (Change Order 1)
SY
1,886.00
$48.00
$90,528.00
lClearing&Grubbing -TxDOT Driveway
AC
1.45
$2,500.00
$3,625.00
Cut -TxDOT Driveway
CY
249.00
$8.00
$1,992.00
Fill-TxDOTDriveway
CY
1,572.00
$12.00
$18,864.00
Traffic Control-TxDOTDriveway
LS
1.00
$25,000.00
$25,000.00
Subtotal - Roadway Improvements
$1,102,524.00
Water Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Unclassified Excavation - Utility> 8" Corridor
CY
2,040.00
$4.75
$9,690.00
Trench Safety
LF
11,363.00
$2.00
$22,726.00
12" PVC Water Pipe
LF
1,088.00
$112.00
$121,856.00
12" DIP Water
LF
83.00
$142.00
$11,786.00
16" PVC Water Pipe
LF
2,646.00
$162.00
$428,652.00
16" DIP Water
LF
680.00
$222.00
$150,960.00
24" PVC Water Pipe
LF
5,717.00
$242.00
$1,383,514.00
24" DIP Water
LF
222.00
$282.00
$62,604.00
Fire Hydrant (Assembly)
EA
1.00
$8,500.00
$8,500.00
1" Water Service
EA
13.00
$1,450.00
$18,850.00
12" Gate Valve
EA
6.00
$4,500.00
$27,000.00
16" Gate Valve & Vault
EA
2.00
$28,500.00
$57,000.00
24" Gate Valve & Vault
EA
9.00
$62,500.00
$562,500.00
Ductile Iron Water Fittings w/ Restraint
TON
15.02
$16,500.00
$247,797.00
6"Blow OffValve
EA
1.00
$14,500.00
$14,500.00
8"Blow OffValve
EA
1.00
$18,500.00
$18,500.00
2" Combination Air Valve Assembly for Water
EA
1.00
$12,500.00
$12,500.00
4" Combination Air Valve Assembly for Water
EA
1.00
$30,500.00
$30,500.00
20" Casing By Open Cut
LF
508.00
$320.00
$162,560.00
24" Casing By Open Cut
LF
407.00
$380.00
$154,660.00
42" Casing By Open Cut
LF
529.00
$720.00
$380,880.00
Connection to Existing 24" Water Main
EA
1.00
$9,500.00
$9,500.00
Erosion Control Matting
SY
127.00
$12.00
$1,524.00
12" DIP Water, CSS Backfill
LF
427.00
$162.00
$69,174.00
24" DIP Water, CSS Backfill
LF
500.00
$312.00
$156,000.00
Concrete Riprap
SY
1,041.00
$82.00
$85,362.00
Utility Markers
LS
1.00
$2,500.00
$2,500.00
Water Testing (Excluding Geotech)
LF
12,903.00
$2.00
$25,806.00
124" Ring Connection
EA
1.00
$105,000.00
$105,000.00
18" PVC Water Pipe (Change Order 1)
LF
23.00
$56.00
$1,288.00
18" DIP Water (Change Order 1)
LF
20.00
$66.00
$1,320.00
1 12" PVC Water Pipe (Change Order 1)
LF
(7.00)
$112.00
($784.00)
1 12" DIP Water (Change Order 1)
LF
7.00
$142.00
$994.00
124" PVC Water Pipe (Change Order 1)
LF
(15.00)
$242.00
($3,630.00)
124" Gate Valve & Vault (Change Order 1)
EA
(2.00)
$62,500.00
($125,000.00)
1 Ductile Iron Water Fittings w/ Restraint (Change Order 1)
TON
(0.90)
$16,500.00
($14,850.00)
18" Water Lowering (Change Order 1)
EA
1.00
$5,500.00
$5,500.00
20" Casing By Open Cut (Change Order 1)
LF
20.00
$320.00
$6,400.00
24" Casing By Open Cut (Change Order 1)
LF
(209.00)
$380.00
($79,420.00)
12" DIP Water, C55 Backfill (Change Order 1)
LF
20.00
$162.00
$3,240.00
1 12" Water Pipe, CSS Backfill (Change Order 1)
LF
(20.00)
$132.00
($2,640.00)
124" Ring Connection (Change Order 1)
EA
(1.00)
$105,000.00
($305,000.00)
Subtotal - Water Improvements
$4,020,129.00
Sewer Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Post -CCTV Inspection
LF
1,911.00
$6.00
$11,466.00
Manhole Vacuum Testing
EA
11.00
$500.00
$5,500.00
Trench Safety
LF
1,911.00
$4.00
$7,644.00
Trench Water Stops
EA
7.00
$750.00
$5,250.00
15" PVC Sewer Pipe SDR-26
LF
345.00
$326.00
$112,470.00
15" DIP Sewer Pipe
LF
246.00
$396.00
$97,416.00
18" Epoxy Coated Ductile Iron Sewer Pipe
LF
226.00
$425.00
$96,050.00
30" Fiberglass Reinforced Sewer Pipe
LF
1,343.00
$426.00
$572,118.00
24" Casing By Open Cut
LF
289.00
$420.00
$121,380.00
36" Casing By Open Cut
LF
226.00
$620.00
$140,120.00
48" Casing By Open Cut
LF
30.00
$820.00
$24,600.00
15" Sewer Pipe, CSS Backfill
LF
20.00
$346.00
$6,920.00
18" DIP Sewer, CSS Backfill
LF
141.00
$456.00
$64,296.00
30" Fiberglass Sewer Pipe, CSS Backfill
LF
20.00
$466.00
$9,320.00
4' Manhole
EA
3.00
$8,000.00
$24,000.00
4' Drop Manhole
EA
2.00
$9,000.00
$18,000.00
5' Manhole
EA
7.00
$10,000.00
$70,000.00
Concrete Collar for Manhole
EA
11.00
$1,000.00
$11,000.00
Remove 4' Sewer Manhole
EA
1.00
$3,500.00
$3,500.00
WAGER 3000 Manhole Scrubber
EA
1.00
$18,500.00
$18,500.00
4' Extra Depth Manhole
VF
60.90
$275.00
$16,747.50
5' Extra Depth Manhole
VF
70.00
$325.00
$22,750.00
Epoxy Manhole Liner
VF
197.60
$485.00
$95,836.00
Concrete Riprap
Sy
252.00
$82.00
$20,664.00
Post -CCTV Inspection (Change Order 1)
LF
378.00
$6.00
$2,268.00
Manhole Vacuum Testing (Change Order 1)
EA
4.00
$500.00
$2,000.00
Trench Safety (Change Order 1)
LF
378.00
$4.00
$1,512.00
Trench Water Stops (Change Order 1)
EA
(3.00)
$750.00
($2,250.00)
1 12" Sanitary Sewer Pipe (Change Order 1)
LF
2.00
$276.00
$552.00
1 15" Sanitary Sewer Pipe (Change Order 1)
LF
24.00
$326.00
$7,824.00
120" Casing by Open Cut (Change Order 1)
LF
(5.00)
$320.00
($1,600.00)
124" Casing by Open Cut (Change Order 1)
LF
(159.00)
$420.00
($66,780.00)
136" Casing by Open Cut (Change Order 1)
LF
(8.00)
$620.00
($4,960.00)
1 18" DIP Sanitary Sewer, CSS Backfill (Change Order 1)
LF
(141.00)
$456.00
($64,296.00)
14' Manhole (Change Order 1)
EA
1.00
$8,000.00
$8,000.00
14' Drop Manhole (Change Order 1)
EA
3.00
$9,000.00
$27,000.00
15' Manhole(Change Order 1)
EA
(2.00)
$30,000.00
($20,000.00)
14' Extra Depth Manhole (Change Order 1)
VF
(53.00)
$275.00
($14,575.00)
Concrete Collar for Manhole (Change Order 1)
EA
4.00
$1,000.00
$4,000.00
lConcrete Rip Rap (Change Order 1)
Sy
(10.00)
$82.00
($820.00)
1 15" DIP Sanitary Sewer (Change Order 1)
LF
(46.00)
$396.00
($18,216.00)
1 18" Epoxy Coated D.I. Sanitary Sewer Pipe (Change Order 1)
LF
(226.00)
$425.00
($96,050.00)
1 18" Epoxy Coated D.I. Sanitary Sewer Pipe, CSS Backfill (Change Order 1)
LF
359.00
$456.00
$163,704.00
15' Drop Manhole (Change Order 1)
EA
1.00
$11,000.00
$11,000.00
Deep Trench Deduct (Change Order 1)
LS
(1.00)
$140,550.00
($140,550.00)
Subtotal - Sewer Improvements
$1,373,310.50
Storm Drainage Improvements
Item Description
Unit
Quantity I
Unit Price
Total Item Lost
TxDOT Driveway
�RC Pipe (CL III)(24")
LF
113.00
$115.00
$12,995.00
1 12" Rip Rap (Stone Common)(Grout)
CY
23.00
$435.00
$10,005.00
124" Headwall (PSET-SP)
EA
2.00
$4,500.00
$9,000.00
124" Headwall (CH - FW -0)
EA
1.00
$4,500.00
$4,500.00
Remove STR(Headwall)
EA
1.00
$1,500.00
$1,500.00
124" RCP CL III (Change Order 1)
LF
(113.00)
$115.00
($12,995.00)
11-leadwall (PSET-SP) 24" (Change Order 1)
EA
(1.00)
$4,500.00
($4,500.00)
Headwall (CH-FW-0) 24" (Change Order 1)
EA
(1.00)
$4,500.00
($4,500.00)
14X2 RCB (Change Order 1)
LF
127.00
$240.00
$30,480.00
14X2 Headwall (Change Order 1)
EA
2.00
$6,500.00
$13,000.00
Subtotal - Storm Drainage Improvements
$59,495.00
Other Soft and Miscellaneous Costs
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Engineering, Surveying, Staking
LS
1
$1,537,500
$1,537,500
lConstruction Materials Testing
LS
1
$15,000
$15,000
Erosion Control & SWPPP
LS
1
$15,000
$15,000
City of Fort Worth Fees
LS
1
$361,702
$361,702
Bonding Fees (Maintenance, Payment, Performance, Development)
LS
1
$166,933
$166,933
Easement and Right -of -Way Dedication
LS
1
$50,000
$50,000
Construction Management
%
5%
$6,555,449
$327,772
1Subtotal - Other Soft and Miscellaneous Costs
$2,473,907.12
BEAR CREEK IMPROVEM
TMTt
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Unclassified Excavation - Public ROW
CY
48,270.00
$4.75
$229,282.50
Hydrated Lime (36#/SY)
TN
232.00
$275.00
$63,800.00
8" Lime Treatment (36#/SY)
SY
12,860.00
$5.00
$64,300.00
10" Conc Pvmt
SY
12,040.00
$108.00
$1,300,320.00
Barrier Free Ramp, Type P-1
EA
4.00
$2,400.00
$9,600.00
Topsoil
CY
786.00
$28.00
$22,008.00
Seeding, Hydromulch
SY
7,070.00
$2.00
$14,140.00
4" Conc Sidewalk
SF
36,690.00
$4.25
$155,932.50
Construct Std Pvmt Header
LF
85.00
$30.00
$2,550.00
Pedestrian Hand Rail
LF
100.00
$140.00
$14,000.00
Construct Barricade
EA
2.00
$800.00
$1,600.00
4" (White) Dashed Stripe w/ Raised Pavement Markers
LF
3,579.00
$3.00
$10,737.00
8" (White) Solid Stripe w/ Raised Pavement Markers
LF
657.00
$4.00
$2,628.00
Lane Legend (Arrow)
EA
11.00
$500.00
$5,500.00
Lane Legend (Only)
EA
11.00
$500.00
$5,500.00
12" (White) 3'-9' Dotted Lane Drop Line
LF
344.00
$10.00
$3,440.00
6" (White) Solid Stripe w/ 18" (White) Solid Stripes (In Ceveron Pattern)
SF
1,065.00
$4.00
$4,260.00
Furnish/Install Alum Sign Ground Mount City Std. - Stop w/ Street Name Blades (R3-1)
EA
1.00
$1,000.00
$1,000.00
Furnish/Install Alum Sign Ground Mount City Std. - Speed Limit (R2-1)
EA
3.00
$500.00
$1,500.00
Furnish/Install Alum Sign Ground Mount City Std. - Left Turn Only (113-51)
EA
2.00
$500.00
$1,000.00
Furnish/Install Alum Sign Ground Mount City Std. - Stop Here For Pedestrians (113-5b)
EA
1.00
$500.00
$500.00
Furnish/Install Alum Sign Ground Mount City Std. - Left, Left, Right Only (R3-8LUR)
EA
4.00
$500.00
$2,000.00
Furnish/Install Alum Sign Ground Mount City Std. - Right Lane Must Turn Right (R3-7R)
EA
2.00
$500.00
$1,000.00
Furnish/Install Elec Sew Pedestal
EA
1.00
$10,500.00
$10,500.00
2" Condt PVC SCH 80 (T)
LF
2,992.00
$15.00
$44,880.00
Rdwy Illum Foundation TY 3,5,6, and 8
EA
16.00
$1,800.00
$28,800.00
Rdwy Illum TY 18 Pole
EA
16.00
$3,400.00
$54,400.00
Install Type 33A Arm
EA
22.00
$600.00
$13,200.00
Type R2 Luminaire
EA
22.00
$750.00
$16,500.00
Electric Overhead Line Burying Allowance
LS
1.00
$25,000.00
$25,000.00
Subtotal - Roadway Improvements
$2,109,878.00
Water Impro
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Trench Safety
LF
2,147.00
$2.00
$4,294.00
12" PVC Water Pipe
LF
2,071.00
$112.00
$231,952.00
12" DIP Water
LF
36.00
$142.00
$5,112.00
12" Gate Valve
EA
8.00
$4,500.00
$36,000.00
Ductile Iron Water Fittings w/ Restraint
TON
2.47
$9,500.00
$23,484.00
2" Combination Air Valve Assembly for Water
EA
1.00
$14,500.00
$14,500.00
20" Casing By Open Cut
LF
20.00
$320.00
$6,400.00
12" Water Pipe, CSS Backfill
LF
40.00
$132.00
$5,280.00
Water Testing (Excluding Geotech)
LF
2,147.00
$1.00
$2,147.00
Subtotal - Water Improvements
$329,169.00
Sewer Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
`Subtotal - Sewer Improvements
$0.00
Storm Drainage Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Trench Safety
LF
544.00
$2.00
$1,088.00
Post -CCTV Inspection
LF
544.00
$2.00
$1,088.00
21" RCP, Class III
LF
119.00
$75.00
$8,925.00
24" RCP, Class III
LF
183.00
$85.00
$15,555.00
27" RCP, Class III
LF
8.00
$105.00
$840.00
6x3 Box Culvert
LF
234.00
$450.00
$105,300.00
4' Storm Junction Box
EA
2.00
$5,500.00
$11,000.00
10' Recessed Inlet
EA
2.00
$5,000.00
$10,000.00
15' Recessed Inlet
EA
2.00
$6,000.00
$12,000.00
12" Rock Riprap
SY
192.00
$125.00
$24,000.00
(2)-6'x3' PW-14:1 Sloped End Wingwall
iubtotal - Storm Drainage Improvements
Landscape, Irrigation & Hardscape Allowance
al - Public Landscaping, Trails and Parks
Item Description
1Construction Materials Testing
IErosion Control & SWPPP
1Easementand Right -of -Way Dedication
1Construction Management
ISubtotal - Other Soft and Miscellaneous Costs
IEA 1 2.001 $19,950.001 $39,900.00
$229,696.00
LS I 1.001 $675,000.001 $675,000.00
$675,000.00
Unit Quantity Unit Price
Total Item Cost
LS 1 $120,449
$120,449
LS 1 $10,000
$10,000
LS 1 $70,000
$70,000
5% $3,343,743
$167,187
$367,636.15
KENWOOD
Water Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Mobilization
LS
1.00
$7,500.00
$7,500.00
Remove 12" Water Line
LF
110.00
$40.00
$4,400.00
Remove 16" Water Line
LF
30.00
$60.00
$1,800.00
14"-12" Water Abandonment Plug 6"
EA
2.00
$1,500.00
$3,000.00
15alvage Fire Hydrant
EA
3.00
$1,000.00
$3,000.00
1 12" PVC Water Pipe (Restrained Joints)
LF
580.00
$142.00
$82,360.00
116" DIP Water
LF
10.00
$322.00
$3,220.00
116" PVC C900 Water Pipe (Restrained Joints)
LF
126.00
$262.00
$33,012.00
14' Wide Asphalt Pvmt Repair, Residential
LF
599.00
$48.00
$28,752.00
15' Wide Asphalt Pvmt Repair, Residential
LF
136.00
$60.00
$8,160.00
jAsphalt Pvmt Repair Beyond Defined Width, Arterial
SY
155.00
$108.00
$16,740.00
130" Casing By Open Cut
LF
102.00
$420.00
$42,840.00
Fire Hydrant
EA
3.00
$6,500.00
$19,500.00
1 12" Gate Valve
EA
4.00
$6,000.00
$24,000.00
�1" Water Service, Meter Reconnection
EA
3.00
$2,500.00
$7,500.00
�1" Bored Water Service
EA
5.00
$3,500.00
$17,500.00
lConnection to Existing 16" Water Main
EA
3.00
$10,500.00
$31,500.00
1 Connection to Existing 4"-12" Water Main 8"
EA
2.00
$3,500.00
$7,000.00
lConnection to Existing 4"-12" Water Main 6"
EA
1.00
$2,500.00
$2,500.00
116" Gate Valve with Vault
EA
1.00
$26,500.00
$26,500.00
116" x 12" Tapping Sleeve & Valve
EA
1.00
$24,500.00
$24,500.00
Ductile Iron Water Fittings
TONS
4.00
$9,500.00
$38,000.00
Traffic Control
LS
1.00
$6,500.00
$6,500.00
lWaterline Sterilization and Pressure Testing
LF
716.00
$4.00
$2,864.00
Trench Safety
LF
716.00
$2.00
$1,432.00
Right of Way Clearing, Restoration, and Seeding of Disturbed Areas
LF
716.00
$10.00
$7,160.00
lComply with TPDES Construction General Permit TXR 150000
LS
1.00
$3,500.00
$3,500.00
Mobilization (Change Order 1)
LS
0.50
$7,500.00
$3,750.00
lRemove 12" Water Line (Change Order 1)
LF
(110.00)
$40.00
($4,400.00)
lRemove 16" Water Line (Change Order 1)
LF
(30.00)
$60.00
($1,800.00)
Salvage Fire Hydrant (Change Order 1)
EA
(1.00)
$1,000.00
($1,000.00)
1 12" WTR Pipe (PVC Restrained) (Change Order 1)
LF
412.00
$142.00
$58,504.00
116" DIP Water (Change Order 1)
LF
(10.00)
$322.00
($3,220.00)
116" PVC C900 Water Pipe (Restrained Joints) (Change Order 1)
LF
(126.00)
$262.00
($33,012.00)
130" Casing by Open Cut (Change Order 1)
LF
(102.00)
$420.00
($42,840.00)
1Fire Hydrant (Change Order 1)
EA
(1.00)
$6,500.00
($6,500.00)
1 12" Gate Valve (Change Order 1)
EA
1.00
$6,000.00
$6,000.00
lConnection to Existing 16" Water Main (Change Order 1)
EA
(2.00)
$10,500.00
($21,000.00)
116" Gate Valve with Vault (Change Order 1)
EA
(1.00)
$26,500.00
($26,500.00)
Ductile Iron Water Fittings (Change Order 1)
TON
(1.30)
$9,500.00
($12,302.50)
Traffic Control (Change Order 1)
LS
0.50
$6,500.00
$3,250.00
Waterline Sterilization and Pressure Testing (Change Order 1)
LF
296.00
$4.00
$1,184.00
Trench Safety (Change Order 1)
LF
296.00
$2.00
$592.00
1 Right of Way Clearing, Restoration, and Seeding of Disturbed Areas (Change Order 1)
LF
296.00
$10.00
$2,960.00
lComply with TPDES Construction General Permit (Change Order 1)
LS
0.50
$3,500.00
$1,750.00
jConc Collar for Valves (Change Order 1)
EA
2.00
$2,000.00
$4,000.00
112" DIP PIPE (Change Order 1)
LF
20.00
$162.00
$3,240.00
Conn to Ex 16" WTR Main (Change Order 1)
EA
1.00
$10,000.00
$10,000.00
14' W Asphalt Pvmt Repair, Resid (12" WTR)
LF
435.00
$40.00
$17,400.00
116" x 12" Tapping Sleeve & Valve
EA
1.00
$28,500.00
$28,500.00
Subtotal - Water Improvements
$443,295.50
Sewer Improvements
Item Description
Unit
quantity
Unit Price
Total Item cost
�RMV 6" SS Line (Change Order 1)
LF
94.00
$50.00
$4,700.00
IRMV 4" SS MH (Change Order 1)
EA
1.00
$3,500.00
$3,500.00
IMH Vacuum Testing (Change Order 1)
EA
2.00
$250.00
$500.00
Post CCTV Inspection (Change Order 1)
LF
94.00
$10.00
$940.00
Bypass Pumping (Change Order 1)
LS
1.00
$15,000.00
$15,000.00
Trench Safety (Change Order 1)
LF
94.00
$10.00
$940.00
jConc Collar For MHS (Change Order 1)
EA
2.00
$2,000.00
$4,000.00
1 16" Casing by Open Cut (Change Order 1)
LF
94.00
$420.00
$39,480.00
18" DIP SS Pipe (W/ Protecto 401) (Change Order 1)
LF
94.00
$186.00
$17,484.00
1 Epoxy MH Liner (Change Order 1)
CF
6.44
$435.00
$2,801.40
14' MH - W/ CSS Encase 1' Around (Change Order 1)
EA
2.00
$7,800.00
$15,600.00
Traffic Control (TXDOT ROW) (Change Order 1)
LS
1.00
$9,500.00
$9,500.00
1 ROW Clear, Restore, & SEED DIST AREA (Change Order 1)
LF
110.00
$20.00
$2,200.00
15' W ASPHLT PVMT REPAIR, RESID (8" SS -16" Encase) (Change Order 1)
LF
110.00
$72.00
$7,920.00
JASPHLT PVMT REPAIR BYND DEF WIDTH, ART (Change Order 1)
SY
61.00
$80.00
$4,880.00
Subtotal - Sewer Improvements
$129,445.40
Storm Drainage Improvements
Item Description
Unit
quantity
Unit Price
Total Item Cost
Subtotal - Storm Drainage Improvements
$0.00
Public Landscaping, Trails and Parks
Item Description
Unit
quantity
Unit Price
Total Item cost
Subtotal - Public Landscaping, Trails and Parks
$0.00
Other Soft and Miscellaneous Costs
Item Description
Unit
quantity
Unit Price
Total Item cost
Engineering, Surveying, Staking
LS
1
$18,890.31
$18,890.31
lConstruction Materials Testing
LS
1
$5,780.00
$5,780.00
Erosion Control & SWPPP
LS
1
$2,500.00
$2,500.00
City of Fort Worth Fees
LS
1
$29,854.47
$29,854.47
lConstruction Management
%
5%
$572,741
$28,637
Subtotal - Other Soft and Miscellaneous Costs $85,661.83
ZUIVIMARYTOTALS
AUTHORIZED IMPROVEMENTS
Roadway Improvements
$1,102,524
Water Improvements
$4,020,129
Sewer Improvements
$1,373,311
Storm Drainage Improvements
$59,485
Public Landscaping, Trails and Parks
$0
Other Soft and Miscellaneous Costs
$2,473,907
Subtotal - AUTHORIZED IMPROVEMENTS
$9,029,356
BEAR CREEK IMPROVEMENTS
Roadway Improvements
$2,109,878
Water Improvements
$329,169
Sewer Improvements
$0
Storm Drainage Improvements
$229,696
Public Landscaping, Trails and Parks
$675,000
Other Soft and Miscellaneous Costs
$367,636
Subtotal - BEAR CREEK IMPROVEMENTS
$3,711,379
KENWOOD LONGVUE IMPROVEMENTS
Roadway Improvements
$0
Water Improvements
$443,296
Sewer Improvements
$129,445
Storm Drainage Improvements
$0
Public Landscaping, Trails and Parks
$0
Other Soft and Miscellaneous Costs
$85,662
Subtotal - KENWOOD LONGVUE IMPROVEMENTS
$658,403
TOTAL- IMPROVEMENT AREA #4
Roadway Improvements
$3,212,402
Water Improvements
$4,792,594
Sewer Improvements
$1,502,756
Storm Drainage Improvements
$289,181
Public Landscaping, Trails and Parks
$675,000
Other Soft and Miscellaneous Costs
$2,927,205
•IMPROVEMENT AREA #4
$13,399,137
Excavation Improvements
Item Description
Clearing & Grubbing
Unclassified Excavation
Rough Lot Grading
Subtotal- Excavation Improvements
Roadway Improvements
Item Description
2" Type D HMAC with 4" Type B HMAC
Mountable Concrete Curb and 2' Gutter
Mountable Concrete Curb and 4' Gutter
6" Lime Stabilized Subgrade
Hydrated Lime (32#/SY)
6' Concrete Sidewalk
12' Concrete Sidewalk
6'-12' Transition Sidewalk
Pavement Header (24')
End of Road Barricade
Stop Sign with Street Name Blades (R3-1)
Mount Concrete Curb & 2' Gutter (Change Order 1)
Mount Concrete Curb & 4' Gutter (Change Order 1)
Sidewalk (Change Order 1)
Texcon (Change Order 2)
Crossings (Change Order 3)
Subtotal - Roadway Improvements
Unit Quantity Unit Price Total Item Cost
AC 602.00 $800.00 $481,600.00
CY 2,617,760.00 $4.75 $12,434,360.00
LOT 133.00 $600.00 $79,800.00
$12,995,760.00
Unit
Quantity
Unit Price
Total Item Cost
SY
40,460.00
$62.00
$2,508,520.00
LF
29,169.00
$30.00
$875,070.00
LF
5,994.00
$40.00
$239,760.00
SY
68,689.00
$4.00
$274,756.00
TON
1,099.00
$275.00
$302,225.00
SF
53,401.00
$4.25
$226,954.25
SF
38,897.00
$4.25
$165,312.25
SF
3,800.00
$4.25
$16,150.00
EA
1.00
$800.00
$800.00
EA
1.00
$1,000.00
$1,000.00
EA
14.00
$1,000.00
$14,000.00
LF
(29,169.00)
$30.00
($875,070.00)
LF
(5,994.00)
$40.00
($239,760.00)
SF
(53,401.00)
$4.25
($226,954.25)
LS
1.00
$2,035,219.16
$2,035,219.16
LS
1.00
$139,684.30
$139,684.30
$5,457,666.71
Water Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Trench Safety
LF
17,043.00
$1.00
$17,043.00
8" PVC Water Pipe
LF
16,983.00
$56.00
$951,048.00
8" DIP Water
LF
60.00
$66.00
$3,960.00
Fire Hydrant (Assembly)
EA
30.00
$7,200.00
$216,000.00
1" Water Service
EA
133.00
$1,300.00
$172,900.00
8" Gate Valve
EA
53.00
$2,500.00
$132,500.00
Ductile Iron Water Fittings w/ Restraint
TON
8.83
$9,500.00
$83,913.50
8" Water Lowering
EA
36.00
$5,500.00
$198,000.00
20" Casing By Open Cut
LF
60.00
$320.00
$19,200.00
Water Testing (Excluding Geotech)
LF
17,043.00
$1.00
$17,043.00
Trench Safety (Change Order 1)
LF
(204.00)
$1.00
($204.00)1
18" PVC Water Pipe (Change Order 1)
LF
87.00
$56.00
$4,872.00 1
1 Ductile Iron Water Fittings w/ Restraint (Change Order 1)
TON
(0.20)
$9,500.00
($2,090.00)1
1 8" Water Lowering (Change Order 1)
EA
2.00
$5,500.00
$11,000.00
20" Casing By Open Cut (Change Order 1)
EA
21.00
$320.00
$6,720.00
Water Testing (Excluding Geotech)(Change Order l)
LF
(204.00)
$1.00
($204.00)1
IServices(Change Order 2)
LS
1.00
$150,000.00
$150,000.00 1
Subtotal - Water Improvements
$1,981,701.50
Sewer Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Post -CCTV Inspection
LF
17,076.00
$4.00
$68,304.00
Manhole Vacuum Testing
EA
128.00
$200.00
$25,600.00
Trench Safety
LF
17,076.00
$4.00
$68,304.00
Trench Water Stops
EA
47.00
$250.00
$11,750.00
4" Sewer Service
EA
133.00
$950.00
$126,350.00
8" Sewer Pipe (SDR-26, ASTM D3034)
LF
16,358.00
$104.00
$1,701,232.00
8" DIP Sewer Pipe
LF
87.00
$144.00
$12,528.00
20" Casing By Open Cut
LF
25.00
$320.00
$8,000.00
8" Sewer Pipe, CSS Backfill
LF
631.00
$124.00
$78,244.00
4' Manhole
EA
119.00
$6,800.00
$809,200.00
4' Drop Manhole
EA
9.00
$7,800.00
$70,200.00
Concrete Collar for Manhole
EA
128.00
$600.00
$76,800.00
4' Extra Depth Manhole
VF
588.30
$250.00
$147,075.00
Epoxy Manhole Liner
VF
614.00
$485.00
$297,790.00
4' Extra Depth Manhole (Change Order 1)
VF
(14.00)
$250.00
($3,500.00)1
Epoxy Manhole Liner (Change Order 1)
VF
(122.40)
$485.00
($59,364.00)1
Deep Trench Deduct (Change Order 1)
LS
(1.00)
$78,000.00
($78,000.00)1
IServices(Change Order 2)
LS
1.00
$150,000.00
$150,000.00
Subtotal - Sewer Improvements
$3,510,513.00
Storm Drainage Improvements
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Trench Safety
LF
15,445.00
$2.00
$30,890.00
Post -CCTV Inspection
LF
15,445.00
$2.00
$30,890.00
18" RCP, Class III
LF
1,112.00
$65.00
$72,280.00
21" RCP, Class III
LF
1,628.00
$75.00
$122,100.00
24" RCP, Class III
LF
1,722.00
$85.00
$146,370.00
27" RCP, Class III
LF
727.00
$105.00
$76,335.00
30" RCP, Class III
LF
1,805.00
$115.00
$207,575.00
36" RCP, Class III
LF
1,862.00
$160.00
$297,920.00
42" RCP, Class III
LF
1,284.00
$200.00
$256,800.00
48" RCP, Class III
LF
1,220.00
$235.00
$286,700.00
60" RCP, Class III
LF
230.00
$310.00
$71,300.00
66" RCP, Class III
LF
500.00
$390.00
$195,000.00
4' Storm Junction Box
EA
33.00
$5,500.00
$181,500.00�
5' Storm Junction Box
EA
11.00
$11,500.00
$126,500.00�
6'Storm Junction Box
EA
4.00
$19,500.00
$78,000.00�
10'Curb Inlet
EA
36.00
$4,000.00
$144,000.00
15' Curb Inlet
EA
2.00
$5,000.00
$10,000.00
12" RCP, Class III
LF
3,355.00
$55.00
$184,525.00
5' Curb Inlet
EA
21.00
$3,000.00
$63,000.00
12" Rock Riprap
SY
155.00
$125.00
$19,375.00
12" 4:1 Sloped End Headwall
EA
1.00
$2,500.00
$2,500.00
42" 4:1 Sloped End Headwall
EA
1.00
$8,500.00
$8,500.00
66" 4:1 Sloped End Wingwall
EA
1.00
$12,500.00
$12,500.00
Trench Safety (Change Order 1)
LF
(168.00)
$2.00
($336.00)1
j Post -CCTV Inspection (Change Order 1)
LF
(168.00)
$2.00
($336.00)1
1 12" RCP CL III (Change Order 1)
LF
(145.00)
$55.00
($7,975.00)1
115" HP (Change Order 1)
LF
10.00
$60.00
$600.00
115" RCP CL III (Change Order 1)
LF
28.00
$60.00
$1,680.00
118" HP (Change Order 1)
LF
10.00
$65.00
$650.00
118" RCP CL III (Change Order 1)
LF
(52.00)
$65.00
($3,380.00)1
121" HP (Change Order 1)
LF
10.00
$75.00
$750.00
121" RCP CL III (Change Order 1)
LF
1,111.00
$75.00
$83,325.00
124" HP (Change Order 1)
LF
10.00
$85.00
$850.00
124" RCP CL III (Change Order 1)
LF
(1,224.00)
$85.00
($104,040.00)1
127" RCP CL III (Change Order 1)
LF
678.00
$105.00
$71,190.00
130" HP (Change Order 1)
LF
18.00
$115.00
$2,070.00
130" RCP CL III (Change Order 1)
LF
(1,043.00)
$115.00
($119,945.00)1
133" RCP CL III (Change Order 1)
LF
486.00
$130.00
$63,180.00
136" RCP CL III (Change Order 1)
LF
467.00
$160.00
$74,720.00
142" HP (Change Order 1)
LF
592.00
$200.00
$118,400.00
142" RCP CL III (Change Order 1)
LF
(666.00)
$200.00
($133,200.00)1
148" HP (Change Order 1)
LF
692.00
$235.00
$162,620.00 1
148" RCP CL III (Change Order 1)
LF
(1,205.00)
$235.00
($283,175.00)1
154" HP (Upsize to 60") (Change Order 1)
LF
680.00
$310.00
$210,800.00
160" HP (Change Order 1)
LF
105.00
$310.00
$32,550.00
160" RCP CL III (Change Order 1)
LF
(230.00)
$310.00
($71,300.00)1
166" RCP CL III (Change Order 1)
LF
(500.00)
$390.00
($195,000.00)1
14'SD Junction Box (Change Order 1)
LF
(1.00)
$5,500.00
($5,500.00)1
15' SD Junction Box (Change Order 1)
LF
(4.00)
$11,500.00
($46,000.00)1
16' SD Junction Box (Change Order 1)
LF
(1.00)
$19,500.00
($19,500.00)1
15'Curb Inlet (Change Order 1)
EA
(2.00)
$3,000.00
($6,000.00)1
110' Curb Inlet (Change Order 1)
EA
2.00
$4,000.00
$8,000.00 1
115' Curb Inlet (Change Order 1)
EA
(2.00)
$5,000.00
($30,000.00)1
1 12" Rip Rap (Change Order 1)
SY
151.00
$125.00
$18,875.00
112 4:1 Sloped Headwall (Change Order 1)
EA
-
$2,500.00
$0.00
127 4:1 Sloped Headwall (Change Order 1)
EA
1.00
$4,500.00
$4500.00
136 4:1 Sloped Headwall (Change Order 1)
EA
1.00
$5,500.00
$5,500.00
142 4:1 Sloped Headwall (Change Order 1)
EA
-
$8,500.00
$0.00
1544:1 Sloped Headwall (Change Order 1)
EA
1.00
$10,500.00
$10,500.00
166 4:1 Sloped Headwall (Change Order 1)
EA
(1.00)
$12,500.00
($12,500.00)1
4Subtotal - Storm Drainage Improvements
$2,477,133.00
1{Public Landscaping, Trails and Parks
I Item Description
Unit
Quantity
Unit Price
Total Item Cost
Private Landscaping Allowance
LS
1
$2,500,000.00
$2,500,000.00
4Subtotal - Public Landscaping, Trails and Parks
$2,500,000.00
Other Soft and Miscellaneous Costs
Item Description
Unit
Quantity
Unit Price
Total Item Cost
Engineering & Surveying
LS
1
$2,297,850.00
$2,297,850.00
lConstruction Materials Testing
LS
1
$150,000.00
$150,000.00�
Erosion Control & SWPPP
LS
1
$300,000.00
$100,000.00
City of Fort Worth Fees
LS
1
$463,965.43
$463,965.43
lConstruction Management Fee
%
554
$28,922,774.21
$1,446,138.71
Contingency
%
10%
$28,922,774.21
$2,892,277.42
4Subtotal - Other Soft and Miscellaneous Costs
$7,350,231.57
RESIDENTIAL IMPROVEMENTS
Excavation Improvements
$12,995,760
Roadway Improvements
$5,457,667
Water Improvements
$1,981,702
Sewer Improvements
$3,510,513
Storm Drainage Improvements
$2,477,133
Public Landscaping, Trails and Parks
$2,500,000
Other Soft and Miscellaneous Costs
$7,350,232
Subtotal - RESIDENTIAL IMPROVEMENTS
$36,273,006
TOTAL- IMPROVEMENT AREA#4
Excavation Improvements
$12,995,760
Roadway Improvements
$5,457,667
Water Improvements
$1,981,702
Sewer Improvements
$3,510,513
Storm Drainage Improvements
$2,477,133
Public Landscaping, Trails and Parks
$2,500,000
Other Soft and Miscellaneous Costs
$7,350,232
IMPROVEMENTTOTAL -
11
PHASE 1
MAVERICKIano usE LAND USE SUMMARY
-GM-GMiAMI
zonlx'olnalL7
REBIDEMIAL YIEE
LD A
AS ResitleMial Suburban OeniP-AS 136 Lob 9202
(A Private'r� . /G (,Course'- a Buffers) N/A 298.28
(N�
A AnvaeRes tle-1 Street ROW N/1A 25.93 , Bear Creek Parkway ROW N/A
I ? �L
TTII�TTT
1
�1
f1'ir(�11TL
I
®o�
0
0
0
0
"3
PID INFRASTRUCTURE
NOVEMBER 2025
MAVERICK PHASE
LJA Er�sp�^� eeilnrtl. Ine.LA
�� ® Olm Tres C4rC iAa20E�re a m/ Pbone F-64%62138fi
0 150 300
CONNECT TO
EXISTING 16"
WATERLINE
(X-09278)
i
CONNECT TO
EXISTING 16"
WATERLINE
(X-09278)
16" WATERLINE
pPMP --,-
12" WATERLINE
3 ------------------- MAYWOOD ST
a I �
0
CONNECT TO CONNECT TO
3 EXISTING 8"
WATERLINE EXISTING 6"
( WATERLINE
X-10725)
(X-10362)
0
o v
Z�
Q;
LEGEND
PID ELIGIBLE WATER LINE
EXISTING WATER LINE ------------
IPRC24-0008
° CPN105264
�Z
�s
o�
,
I
CONNECT TO
EXISTING 16"
i
WATERLINE
(X-091 18)
w
Q
w
>
CD
z
O
J
PID EXHIBIT
WATER IMPROVEMENTS
KENWOOD AVE & LONGVUE AVE
WA Engineering, Inc. L»
6060 North Central Expressway Phone 469.621.0710
Suite 400
Dallas, Texas 75206 FRN - F-1386
Area NI
�/-
�r.
® VEALE RANCH
MASTER PLAN
I Concept Plan
- ram— -40% *
�r-0
04
aw
01
0•
INOW -, 0 �07
0
0
LEGM
El EPAtf LOn 1"I
S:\NTX-LAND\0002\NT840\700 COMMUNICATIONS\720 Memo\Maverick Phase 1 Letter 26FEB19.docx
February 26, 2026
Re:
Maverick Phase 1
Fort Worth, Texas
Maverick is a proposed single-family development anticipated to include approximately 500 residential
lots in Fort Worth, Texas. Phase 1 is comprised of 136 residential lots, and is currently under
construction. The proposed authorized infrastructure improvements associated with Phase 1 of the
development are shown in the attached exhibits. A quantity takeoff and associated construction cost
summary has been prepared based on executed contractor bids, and construction costs associated
with authorized improvements have been quantified. Authorized Improvements are categorized as any
in diameter) serving Maverick Phase 1 and commercial, improvements associated with Bear Creek
Parkway (a City of Fort Worth MTP arterial roadway), a new signalized intersection at Bear Creek
Parkway and Highway 377, a TxDOT driveway, deceleration lane and related improvements, and
improvements associated with Kenwood Longvue (an off site water project required to provide
adequate water capacity to serve Maverick Phase 1). All Authorized Improvements are necessary in
order to provide utilities and access to Maverick Phase 1 residential lots.
45
013857.000001\4914-0233-0238.v5
Exhibit V
Certification for Payment Form [SUBJECT TO FURTHER REVIEW]
The undersigned is an agent for _____________________________, a Texas
_______________________ (the Developer), and requests payment from the [applicable
Improvement Account of the Project Fund] (as defined in the Indenture) or [Assessment
Reimbursement Fund] from the City of Fort Worth, Texas (the City), or Trustee (as defined in
the Indenture) in the amount of $___________ for costs incurred in the establishment,
administration, and operation of the Fort Worth Public Improvement District No. (22) (Veale
Ranch) (the District) and for labor, materials, fees, and/or other general costs related to the
design, acquisition, or construction of certain Authorized Improvements related to the District.
Unless otherwise defined, any capitalized terms used herein shall have the meanings ascribed to
them in the [Indenture] and Improvement Area Number 4 Reimbursement Agreement, dated
___________, 2026, and recorded in ___________ of the Real Property Records of Parker County
and ______________ in the Real Property Records of Tarrant County.
In connection to the above referenced payment, the Developer represents and warrants to the City
as follows:
1. The undersigned is a duly authorized officer of the Developer, is qualified to execute this
payment request form on behalf of the Developer, and is knowledgeable as to the matters
set forth herein.
2. The payment requested for the below referenced Authorized Improvement(s) has not been
the subject of any prior payment request submitted for the same work to the City or, if
previously requested, no disbursement was made with respect thereto.
3. The amount listed for the Authorized Improvement(s) below is a true and accurate
representation of the Actual Costs associated with said Authorized Improvement(s); and
such costs are authorized to be paid to Developer pursuant to the Development Agreement,
the Master Reimbursement Agreement, and the Improvement Area Number 4
Reimbursement Agreement.
4. The Developer is in compliance with the applicable terms and provisions of the
Development Agreement, the Indenture, the Developer Continuing Disclosure Agreement,
the Master Reimbursement Agreement, the Improvement Area Number 4 Reimbursement
Agreement, and the Service and Assessment Plan (Agreements).
5. All applicable conditions set forth in the Agreements for the payment hereby requested
have been satisfied.
6. The work with respect to the Authorized Improvement(s) referenced below (or their
completed segment, section or portion thereof) has been completed.
7. The Developer has timely paid all ad valorem taxes and annual installments of special
assessments it owes or an entity Developer controls owes, located in the Veale Ranch
Public Improvement District and has no outstanding delinquencies for such assessments.
46
013857.000001\4914-0233-0238.v5
8. All conditions set forth in the Indenture for the payment hereby requested have been
satisfied.
9. The Developer agrees to cooperate with the City in conducting its review of the requested
payment, and agrees to provide additional information and documentation as is reasonably
necessary for the City to complete said review.
10. [Payment hereunder should be rendered to {Reimbursee details}]
Payments requested are as follows:
a. X amount to Person or Account Y for Z goods or services.
b. Etc.
As provided by the Agreements, the Actual Costs for the Authorized Improvement(s) shall be paid
as follows:
Authorized Improvement:
Amount to be paid from
the ________ Fund
Total Cost of Authorized
Improvement
Attached hereto are receipts, purchase orders, change orders, and similar instruments that support
and validate the above requested payments.
Pursuant to the ___________, after receiving this payment request, the City is authorized to inspect
the Public Improvement (or completed, section or portion thereof segment) and confirm that said
work has been completed in accordance with all applicable governmental laws, rules, and plans.
I hereby declare that the above representations and warranties are true and correct.
By:
Name:
Its:
Date:
47
013857.000001\4914-0233-0238.v5
APPROVAL OF REQUEST BY CITY
The undersigned is in receipt of the attached Certification for Payment. After reviewing the
Certification for Payment, the Certification for Payment is approved in the amount of $________,
and the Trustee or _______________ is directed to disburse the requested payment in said amount
from the ___________, in accordance with the Certification for Payment.
CITY OF FORT WORTH, TEXAS
By:
Name:
Title:
Date:
013857.000001\4914-0233-0238.v5
Exhibit VI
Closing Disbursement Request[SUBJECT TO FURTHER REVIEW]
Form of Closing Disbursement Request
The undersigned is an agent for _______________(Developer) and requests payment to
Developer (or to the person designated by Developer) from the applicable account of the PID
Project Fund from _______________ (the Trustee) in the amount of
_______________________ $________) to be transferred from the applicable account of the
Project Fund upon the delivery of the PID Bonds for costs incurred in the issuance of bonds,
establishment, administration, and operation of the Fort Worth Public Improvement District No.
(22) (Veale Ranch) (the District) or payment of any costs attributable to the District by
Developer, as follows. Unless otherwise defined, any capitalized terms used herein shall have the
meanings ascribed to them in the Indenture of Trust by and between City and the Trustee dated as
of _______, 202___ (the Indenture) relating to the [INSERT NAME OF BONDS] (the PID
Bonds). The term Authorized Improvements, as used herein, refers to the Authorized
Improvements in [SPECIFY IMPROVEMENT AREA].
In connection with the above referenced payment, Developer represents and warrants to City as
follows:
1. The undersigned is a duly authorized officer of Developer, is qualified to execute this
Closing Disbursement Request on behalf of Developer and is knowledgeable as to the matters set forth
herein.
2. The payment requested for the below referenced costs of issuance, establishment,
administration, and operation of the District or payment of any costs attributable to the District by
Developer at the time of the delivery of the PID Bonds have not been the subject of any prior payment
request submitted to City.
3. The amount listed for the Authorized Improvements below is a true and accurate
representation of the Costs associated with the acquisition, installation or construction of said Authorized
Improvements, and such costs are (i) in compliance with the Reimbursement Agreement, (ii) in compliance
with the Indenture, and (iii) consistent with the Service and Assessment Plan.
4. Developer is in compliance with the applicable terms and provisions of the Reimbursement
Agreement, the Indenture, Developer Continuing Disclosure Agreement, the Service and Assessment Plan,
and the Development Agreement (as defined in the Reimbursement Agreement).
5. Developer is current on all ad valorem property taxes and District assessments on property
owned by Developer within the District.
6. All conditions set forth in the Indenture and the Reimbursement Agreement for the
payment hereby requested have been satisfied.
7. Developer agrees to cooperate with City in conducting its review of the requested payment
and agrees to provide additional information and documentation as is reasonably necessary for City to
complete said review.
49
013857.000001\4914-0233-0238.v5
Payments requested hereunder shall be made as directed below:
[Information regarding Payee, amount, and deposit instructions attached]
Attached hereto are receipts, purchase orders, change orders, and similar instruments that support
and validate the above requested payments. Also attached hereto are bills paid affidavits and
supporting documentation in the standard form for City construction projects.
Pursuant to the Improvement Area Number 4 Reimbursement Agreement, after receiving this
payment request, the City is authorized to inspect the Authorized Improvements (or completed,
section, or portion thereof segment) and confirm that said work has been completed in accordance
with all applicable laws, rules and regulations.
I hereby declare that the above representations and warranties are true and correct.
__________________________
By: _______________________
Name: _____________________
Title: ______________________
50
013857.000001\4914-0233-0238.v5
APPROVAL OF REQUEST BY CITY
City is in receipt of the attached Closing Disbursement Request, acknowledges the Closing
Disbursement Request, and finds the Closing Disbursement Request to be in order. After reviewing
the Closing Disbursement Request, City approves the Closing Disbursement Request and shall
include said payments in City Certificate submitted to the Trustee directing payments to be made
from the applicable account under the Indenture upon delivery of the PID Bonds. The Citys
approval of the Closing Disbursement Request for payment shall not have the effect of estopping
or preventing the City from asserting claims under the Indenture, the Service and Assessment Plan,
or any other agreement between the parties, or from asserting that there is a defect in the
Authorized Improvements.
CITY OF FORT WORTH, TEXAS
By: ___________________________
Name: ________________________
Title: _________________________
Date: ________________, 202__
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 04/28/26 M&C FILE NUMBER: M&C 26-0286
LOG NAME: 03VEALE_RANCH_PID—FY2026 (NIA #4 AND NIA#5)
SUBJECT
(CD 3 and ETJ) Conduct Public Hearing to Consider the Levying of Special Assessments in Improvement Area No. 4 and Improvement Area No.
5 of Fort Worth Public Improvement District No. 22 — Veale Ranch and Adopt an Ordinance (1) Levying Special Assessments on Property
Located in Improvement Area No. 4 and Improvement Area No. 5 of Fort Worth Public Improvement District No. 22 — Veale Ranch; (2) Approving
the Service and Assessment Plan Update for Improvement Area No. 4 and Improvement Area No. 5 of Fort Worth Public Improvement District
No. 22 — Veale Ranch; (3) Approving the Assessment Roll for Improvement Area No. 4 and Improvement Area No. 5 of Fort Worth Public
Improvement District No. 22 — Veale Ranch, and (4) Ordaining Related Matters; and Adopt a Resolution Approving Reimbursement Agreements
with PMB FW Land LP and FW Club LP for the Construction, Acquisition, and Financing of Improvements within Improvement Area No. 4 and
Improvement Area No. 5 of Fort Worth Public Improvement District No. 22 — Veale Ranch
(PUBLIC HEARING - a. Staff Available for Questions: Crystal Hinojosa; b. Public Comment; c. Council Action: Close Public Hearing and Act on
M&C)
RECOMMENDATION:
It is recommended that the City Council:
1. Conduct a public hearing concerning the proposed special assessments to be levied on the property located in Improvement Area No. 4 and
Improvement Area No. 5 of Fort Worth Public Improvement District No. 22 — Veale Ranch, with collection to begin in the fiscal year 2027;
2. Adopt the attached ordinance (a) levying special assessments on property located in Improvement Area No. 4 and Improvement Area No. 5
of Fort Worth Public Improvement District No. 22 — Veale Ranch, (b) approving the Service and Assessment Plan Update for Improvement
Area No. 4 and Improvement Area No. 5 of Fort Worth Public Improvement District No. 22 — Veale Ranch, (c) approving the Assessment Roll
for Improvement Area No. 4 and Improvement Area No. 5 of Fort Worth Public Improvement District No. 22 — Veale Ranch, and (d) ordaining
other matters related thereto; and
3. Adopt the attached resolution approving the reimbursement agreements to address the construction, acquisition, and financing of
improvements within Fort Worth Public Improvement District No. 22 — Veale Ranch, as follows:
a. Improvement Area No. 4 Reimbursement Agreement with PMB FW Land LP and FW Club LP; and
b. Improvement Area No. 5 Reimbursement Agreement with PMB Ventana Developer South LLC and PMB SWFW Dev Co Manager LLC.
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to conduct a public hearing, approve the Service and Assessment Plan,
approve the Assessment Roll, authorize a Reimbursement Agreement with PMB FW Land P and FW Club LP and ordain other matters related
thereto and intend to address Improvement Area No. 4 and Improvement Area No. 5 of the Veale Ranch PID, which is the 4th and 5th phase of
development. In August 2023 the City Council approved the creation of the Veale Ranch Public Improvement District (Veale Ranch PID),
encompassing approximately 5,200 acres of land located primarily within Fort Worth's extraterritorial jurisdiction in Parker and Tarrant Counties,
as a vehicle to reimburse FW Club LP (the Developer) for certain authorized public infrastructure improvements associated with the development
known as Veale Ranch/Team Ranch, Rolling V South, and Ventana South (collectively, the Development). The Development is anticipated to occur
in phases over a period of up to 50 years, with each phase constituting an "Improvement Area" (IA). PID assessments, potential Tax Increment
Reinvestment Zone (TIRZ) collections, and bond issuances may occur following annexation of each IA for 25- to 30-year periods to reimburse
eligible improvement costs. This Mayor and Council Communication (M&C) intends to address Improvement Area No. 4 and Improvement Area
No. 5 of the Veale Ranch PID, which is the 4th and 5th phase of development.
On March 10, 2026, the City Council adopted Resolution No. 6280-03-2026 concerning certain matters related to the Veale Ranch PID, including
the following: (1) determining the costs of certain public improvements; (2) accepting a preliminary service and assessment plan update,
including a proposed assessment roll; (3) directing the filing of the proposed updated assessment roll with the City Secretary; (4) calling for a
public hearing to consider the ordinance levying special assessments on property located within the area defined as Improvement Area No. 4 and
Improvement Area No. 5 of the Veale Ranch PID; and (5) directing staff to publish and mail notice of this public hearing to the property owners
liable for payment of the special assessment.
As outlined in the Service and Assessment Plan, Improvement Area No. 4 has improvements in the amount of $13,399,137.00, that are to be
funded by the special assessments. The special assessments will be levied across 136 residential units (representing 421.082 acres) and
collected over a 30-year period. The 136 lots are divided into two categories, with each category represented by lot width and/or type. Including
categories as follows: cottage lots and estate lots. Assessments will be allocated as follows:
Lot Size # of Lots 11 Annual Installment
IlCottage Lots 10011 $12,225.751
IlEstate Lots 1I 3611 $9,304.8811
The above shown amounts are calculated using an interest rate of 9.06% per annum for the first five years and 7.04% per annum for the remaining
25 years.
Improvement Area No. 5 has improvements in the amount of $5,429,728.00, that are to be funded by the special assessments. The special
assessments will be levied across 277 residential units (representing 72.059 acres) and collected over a 30-year period. The 277 lots are
divided into two categories, with each category represented by lot width and/or type. Widths including categories as follows: 40 feet, 50 feet, 60
feet and 70 feet. Assessments will be allocated as follows:
11 Lot Size
# of Lots I
Annual Installment
I140 feet
371
$2,195.23
I150 feet
163
$2,462.22
1160 feet
38
$2,699.54
�0 feet
391
$2,966.53
The above shown amounts are calculated using an interest rate of 9.06% per annum for the first five years and 7.04% per annum for the remaining
25 years.
The total principal reimbursement amount for IA 4 is $16,630,000.00.
The Parties will be responsible for managing all construction for the development of the lots and residential units within the Veale Ranch PID.
Following execution of the improvement area reimbursement agreement, the City will begin to make monthly payments to the Parties in
satisfaction of the Reimbursement Amount from the special assessments revenues, less any administrative fees, once the Parties submit
payment requisitions.
The Reimbursement Amount for Improvement Area No. 4 will be paid over a maximum period of 30 years. Until bonds, if any, are issued, the
Parties will be entitled to interest on the unpaid Reimbursement Amount at the rate of 9.06 percent per annum for the first five years and 7.04
percent per annum for the remaining 25 years. If any portion of the Reimbursement Amount remains unpaid after the City has elected to issue
bonds, the interest rate on the unpaid Reimbursement Amount will be the same as the interest rate on the bonds. It is anticipated that within five
years, provided that the Parties have satisfied certain obligations designed to ensure the rapid development of the entire Veale Ranch PID, the
City will explore options to accelerate the reimbursement of the Parties by issuing debt secured by a portion of the special assessments.
The total reimbursement for Improvement Area No. 5 is $6,809,000.00.
PMB Ventana Developer South LLC and PMB SWFW Dev Co Manager LLC (the Developers) will be responsible for managing all construction
for the development of the lots and residential units within the Veale Ranch PID. Following execution of the improvement area reimbursement
agreement, the City will begin to make monthly payments to the Developers in satisfaction of the Reimbursement Amount from the special
assessments revenues, less any administrative fees, once the Developer submits payment requisitions
The Reimbursement Amount for Improvement Area No. 4 will be paid over a maximum period of 30 years. Until bonds, if any, are issued, the
Developer will be entitled to interest on the unpaid Reimbursement Amount at the rate of 9.06 percent per annum for the first five years and 7.04
percent per annum for the remaining 25 years. If any portion of the Reimbursement Amount remains unpaid after the City has elected to issue
bonds, the interest rate on the unpaid Reimbursement Amount will be the same as the interest rate on the bonds. It is anticipated that within five
years, provided that the Developer has satisfied certain obligations designed to ensure the rapid development of the entire Veale Ranch PID, the
City will explore options to accelerate the reimbursement of the Developer by issuing debt secured by a portion of the special assessments.
This project is located in COUNCIL DISTRICT 3 and ETJ.
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that approval of this agreement will have no material effect on the Fiscal Year 2026 Budget. While no current year
impact is anticipated from this action, any effect on expenditures and revenue will be budgeted in future Fiscal Years and will be included in the
long-term financial forecast.
Submitted for Citv Manaaer's Office bv:
Oriainatina Business Unit Head: Christianne Simmons 6222
Additional Information Contact: Brady Kirk 8712