Loading...
HomeMy WebLinkAbout065273 - Construction-Related - Contract - CB-Direct Bonds Ranch, LPCSCO NO. 65273 TRANSPORTATION IMPACT FEE CREDIT AGREEMENT THIS TRANSPORTATION IMPACT FEE CREDIT AGREEMENT (the "Agreement") is made and entered into effective as of the Effective Date (as defined below), by and among THE CITY OF FORT WORTH, TEXAS (the "City"), a Texas home rule municipal corporation, and CB -DIRECT BONDS RANCH, LP, a Texas limited partnership authorized to do business in Texas (the "Owner") (the City and the Owner a "Party", and collectively, the "Parties"). RECITALS WHEREAS, the Owner is the owner of approximately 31.821 acres in Tarrant County, Texas, as described by metes and bounds in Exhibit "A" (the "Property") located within the corporate boundaries of the City. A map of the Property showing its location is attached hereto as Exhibit `B"; and WHEREAS, the Owner desires to proceed with development of the Property as described or illustrated on the Development Plan, attached hereto as Exhibit "C ", which identifies the on - site and/or off -site transportation facilities necessary for serving full development of the Property; and WHEREAS, the City has adopted a Transportation Impact Fee program pursuant to Texas Local Government Code Chapter 395, codified in City Code Chapter 30, Article VIII, as amended, under which transportation impact fees are imposed on new development for impacts to the City's transportation facilities as a result of said development; and WHEREAS, transportation impact fees are collected and must be spent by the City on impact fee eligible transportation facilities identified within the City's adopted Transportation Improvements Plan ("TIP"), as amended, within the service area(s) in which the new development is located; and WHEREAS, the Transportation Impact Fee Program provides for credits against impact fees for dedication of right-of-way and/or construction of transportation improvements identified as impact fee eligible on the adopted TIP; and WHEREAS, the Property is located within service area C; and WHEREAS, certain transportation facilities depicted on Exhibit "D" are identified as impact fee eligible within the City's adopted TIP and therefore eligible for impact fee credit; and WHEREAS, Owner has agreed to dedicate the right-of-way and/or construct the transportation improvements shown on Exhibit "D" for which credits against transportation impact fees shall be granted; and WHEREAS, the Owner has received preliminary plat approval for Copper Ranch Addition, PP-24-044, on 8/12/2024; and OFFICIAL RECORD Transportation Impact Fee Credit Agreement- CA-26-005 CITY SECRETARY Page 1 of 14 Copper Ranch FT. WORTH, Tx 5/26/2026 WHEREAS, the Owner has received approval for construction plans (IPRC25-0092) on 1/12/2026, and executed a Community Facilities Agreement (CFA26-0008, CSCO 64661), on 1/30/2026 with a financial guarantee. NOW, THEREFORE, for and in consideration of the mutual agreements, covenants, and conditions contained herein, and other good and valuable consideration, the City and the Owner hereby covenant and agree as follows: 1. Recitals. The recitals contained in this Agreement are true and correct as of the Effective Date and form the basis upon which the Parties negotiated and entered into this Agreement. 2. Transportation Improvements. Owner agrees to dedicate the rights -of -way for and/or construct the system facilities identified in Exhibit "D". For any transportation improvement which has been previously dedicated or constructed by Owner on the Property and accepted by the City prior to execution of this Agreement, the improvement shall be identified as completed on Exhibit "D". 3. Credits. The Parties agree that the estimated value of the credits for each transportation improvement, expressed in current dollars, shall be as set forth in Exhibit "E". The value of credits associated with the improvements first shall be reduced by the Schedule 2 impact fee associated with any lot for which a building permit has previously been issued, and the net value of credits shown on Exhibit "E" shall be considered as exact. 4. Phasing. The Parties acknowledge that, where it is anticipated that the project will be developed in phases, the anticipated construction of improvements by phase shall be as depicted in Exhibit "D", which is attached hereto and incorporated herein by reference. 5. Allocation of Credits by Phase. The general allocation of credits to each phase of the development shall be as shown on Exhibit "F", which is attached hereto and incorporated herein by reference. The Parties agree that the credits identified in this Agreement shall not be deemed to have been created until the system facility for which credit is to be granted has been dedicated and accepted (in the case of right-of-way) or constructed through an executed Community Facilities Agreement (for 75% of the eligible roadway construction credit) and final acceptance by the City has been obtained (for 100% of the eligible roadway construction credit). 6. Term and Effective Date. The term of this Agreement shall be ten (10) years from its Effective Date. 7. Assignment. Owner shall have the right to assign this Agreement to any person or entity ("Owner's Assignee") with the written consent of the City, provided: (a) the assignment is in writing executed by the Owner and its assignee; and (b) the assignment incorporates this Agreement by reference and binds the Owner's Assignee to perform (to the extent of the obligations assigned) in accordance with this Agreement. Each Owner's Assignee shall become a Party to this Agreement upon the execution of such assignment. In no event may this Agreement be construed to authorize assignment of any credits attributable to a system facility to be dedicated or constructed hereunder for use outside the boundaries of the Property. A credit agreement Transportation Impact Fee Credit Agreement- CA-26-005 Page 2 of 14 Copper Ranch 5/26/2026 amendment executed by the City, any remaining Owners, and the Owner's Assignee will be required to formally transfer any credits for use. 8. Amendment. This Agreement shall not be modified or amended except as follows: (a) Any revision, amendment, assignment, or modification to this Agreement or any Exhibit or schedule hereto shall be in writing and signed by the Parties. (b) Any revision, amendment, assignment, or modification to this Agreement, the Development Plan, or any Exhibit or schedule thereto, shall become effective on the date executed by the Parties or, as applicable, upon the date of approval by the City Council or designated city official. 9. Exhibits. The exhibits attached to this Agreement are incorporated as part of this Agreement for all purposes as if set forth in full in the body of this Agreement. (Remainder of Page Intentionally Left Blank) Transportation Impact Fee Credit Agreement- CA-26-005 Page 3 of 14 Copper Ranch 5/26/2026 IN WITNESS WHEREOF, the undersigned parties have executed this Agreement to be effective as of the date subscribed by the City's Assistant City Manager. CITY OF FORT WORTH, TEXAS 00* v Jesica McEachern Assistant City Manager Date: 05/31 /2026 Recommended By: Dalton Harrell -(May 27, 2026 17:06:36 CDT) DJ Harrell Director, Development Services Approved as to Form and Legality: 199� Douglas Black (May 29, 2026 17:42:49 CDT) Douglas Black Assistant City Attorney M&C: None required Form 1295: None required 4.044�UnIl ATTEST: e � F 6. 4-n o� o,, oo � v°�o 9�°0 o % 0, S=d Jannette Goodall City Secretary OWNER CB DIRECT BONDS RANCH, LP, a Texas limited partnership By: DEVCO GP, Inc, a Texas corporation its general partner �avr`r� S watson David S. Watson (May 27, 2026 16:34:37 CDT) David S. Watson President City Contract Compliance Manager: By signing, I acknowledge that I am the person responsible for the monitoring and administration of this contract, including ensuring all performance and reporting requirements. Kamal L. Crues Sr. Capital Projects Officer, Development Services Department OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX Transportation Impact Fee Credit Agreement- CA-26-005 Page 4 of 14 Copper Ranch 5/26/2026 EXHIBIT LIST "A" Description of the Property "B" Map of Property "C" Development Plan "D" Eligible Transportation Improvements "E" Credits Against Transportation Impact Fees "F Allocation of Credits Transportation Impact Fee Credit Agreement- CA-26-005 Page 5 of 14 Copper Ranch 5/26/2026 EXHIBIT A Description of Property: Copper Ranch Preliminary Plat, PP-24-044 WHEREAS, CB -DIRECT BONDS RANCH, LP, is the owner of a tract of land situated in the H. Robertson Survey, Abstract No. 1259, City of Fort Worth, Tarrant County, Texas, being part of a tract conveyed to CB -DIRECT BONDS RANCH, LP, by deed recorded in Document No. D224130242 and Document No. D224130243 of the Official Public Records, Tarrant County, Texas (OPRTCT), with the subject tract being more particularly described as follows: BEGINNING at an "X" found in concrete for the intersection of the south line of Hillshire Drive, a 60-foot-wide right-of-way created by the final plat of Highland Meadows Addition, recorded in Document No. D212306375 OPRTCT, with the east line of Shire Meadow Drive, a variable width right-of-way, created by said plat, and being 60 feet wide at this point; THENCE along the south line of Hillshire Drive, the following: N 86°19'36" E, 105.16 feet to a 1/2" iron rod with plastic cap found; N 89°34'52" E, 450.22 feet to a 1/2" iron rod found; A tangent curve to the left having a central angle of 31°31'42", a radius of 480.00 feet, a chord of N 73°49'01" E - 260.81 feet, an arc length of 264.13 feet to a 1/2" iron rod found; And reverse curve having a central angle of 30°06'04", a radius of 570.00 feet, a chord of N 73006'12" E - 296.03 feet, an arc length of 299.46 feet; THENCE S 00013'53" E, 541.57 feet; THENCE N 89044'50" E, 815.50 feet to a point on the west line of Farm to Market Road 156, a 120-foot-wide right-of-way (also known as Blue Mound Road); THENCE S 00013'53" E, 539.98 feet along the west line of said road to a 1/2" iron rod with plastic cap stamped "SPIARSENG" set for the intersection thereof with the north line of East Bonds Ranch Road, a variable width right-of-way, and being the northeast corner of the right-of- way dedication thereof created by plat recorded in Document No. D208160250 OPRTCT; THENCE S 70°53'01" W, 170.18 feet along the north line therof to a 1/2" iron rod with plastic cap stamped "SPIARSENG" set; THENCE S 89044'50" W, 1319.29 feet continuing along the north line said dedication to a 5/8" iron rod with plastic cap found for the intersection of East Bonds Ranch Road and Shire Meadow Drive, being the southeast corner of a right-of-way dedication thereof recorded in Document No. D218232799 OPRTCT; THENCE along the east line of said dedication, the following: Transportation Impact Fee Credit Agreement- CA-26-005 Page 6 of 14 Copper Ranch 5/26/2026 N 45 ° 15' 10" W, 54.49 feet to a 5/8" iron rod with plastic cap found; A non -tangent curve to the right having a central angle of 19°39'39", a radius of 680.00 feet, a chord of N 08°47'17" W - 232.20 feet, an arc length of 233.34 feet to a 5/8" iron rod with plastic cap found; And S 89°28'44" W, 8.52 feet to a 5/8" iron rod with plastic cap found on the east line of a right-of-way dedication for Shire Meadow Drive, created by plat recorded in Document No. D218278521 OPRTCT; THENCE along the east line of said dedication, the following: A non -tangent curve to the left having a central angle of 43°52'55", a radius of 330.00 feet, a chord of N 22°30'30" W - 246.61 feet, an are length of 252.74 feet; N 44°26'58" W, 248.29 feet; And a tangent curve to the right having a central angle of 44' 13' 14", a radius of 270.00 feet, a chord of N 22°20'21" W - 203.25 feet, an arc length of 208.38 feet to the southeast corner of the first mentioned dedication; THENCE N 00° 13'44" W, 109.92 feet along the east line thereof to the POINT OF BEGINNING with the subject tract containing 1,386,128 square feet or 31.821 acres of land. Transportation Impact Fee Credit Agreement- CA-26-005 Page 7 of 14 Copper Ranch 5/26/2026 EXHIBIT B Map of Property: Copper Ranch Preliminary Plat, PP-24-044 110A CI°T CITE' to u�7 BONDS RANCH RD LOCATION MAP 1 " = 2000 Transportation Impact Fee Credit Agreement- CA-26-005 Page S of 14 Copper Ranch 5/26/2026 EXHIBIT C Development Plan: Copper Ranch Preliminary Plat, PP-24-044 J= KIM ..III xT \ _ WV ^3�� 1T—emu T I I I COPPER RANCH ADDITION •"�" '� ecrvaxiiivx� rao��soN s,ix��v�i�,s FZW Transportation Impact Fee Credit Agreement- CA-26-005 Page 9 of 14 Copper Ranch 5/26/2026 N� F— 0 00 EXHIBIT D Eligible Transportation Improvements `w FORT WORTH. Copper Ranch Eligible Transportation Improvements for Credit against Transportation Impact Fees Key — Development Plan Area — Roadway Construction 6 'V EliEli ib��rovements Reference # Limits Bonds Ranch Road PP-24-044 Construction of paving, sidewalks, street CFA26-0008 lights and drainage CPN 106289 IPRC25-0092 Transportation Impact Fee Credit Agreement- CA-26-005 Page 10 of 14 Copper Ranch 5/26/2026 EXHIBIT E Credits Against Transportation Impact Fees Copper Ranch Transportation Impact Fee Credit Overview Value of ROW Dedication Instrument # Final Plat # Eligible Arterial D226068572 FP-25-023 Bonds Ranch Rd Value $0.00 TOTAL ROW TRANSPORTATION IMPACT FEE CREDIT $0.00 TrIF Eligible Community Facilities Agreement Construction - 75% City Secretary# CFA # Eligible Arterial CFA26-0008 64661 CPN 106289 Bonds Ranch Rd IPRC25-0092 Eligible Value $875,377.41 75% COMMUNITY FACILITIES AGREEMENT CREDIT $656,533.06 Engineering, Surveying, and Material Testing = 20% of total eligible construction costs $131,306.61 TOTAL TRANSPORTATION IMPACT FEE CREDIT $787,839.67 Transportation Impact Fee Credit Agreement- CA-26-005 Page 11 of 14 Copper Ranch 5/26/2026 Copper Ranch - 75% TrIF credit since roadway is not complete Value of Eligible Community Facilities Agreement Construction, CPN 106289 Bidlist Item No. Description Unit Quantity Bid Eligible Quantity Unit Price Credit Available UNIT III: DRAINAGE IMPROVEMENTS 1 24" Class III RCP LF 955 955 $75.66 $72,255.30 2 20' Curb Inlet EA 2 2 $25,045.99 $50,091.98 3 10' Recessed Curb Inlet EA 4 4 $6,688.49 $26,753.96 4 3301.0012 Post -CCTV Inspection of Storm Drain LF 955 955 $1.65 $1,575.75 5 3305.0112 Concrete Collar for Manhole EA 1 1 $1,811.28 $1,811.28 6 3305.0109 Trench Safety LF 955 955 $1.10 $1,050.50 7 3331.4115 8" Sewer Pipe LF 50 50 $71.06 $3,553.00 8 3339.1001 4' Manhole EA 2 2 $8,023.45 $16,046.90 9 3339.0001 Epoxy Manhole Liner VF 25 25 $472.58 $11,814.50 10 999.0001 Connect To Existing 4"-12" Sewer EA 4 4 $2,870.14 $11,480.56 11 3305.0113 CLSM Trench Water Stops EA 1 1 $3,000.00 $3,000.00 12 3305.0109 Trench Safety LF 50 50 $1.10 $55.00 13 3301.0101 Manhole Vacuum Testing LS I 1 1 $1,500.00 $1,500.00 TOTAL UNIT III: DRAINAGE IMPROVEMENTS $200,988.73 UNIT IV: PAVING IMPROVEMENTS 1 3213.0106 11" concrete pavement SY 4137 4137 $106.00 $438,522.00 2 3213.0506 Barrier Free Ramp, Type P-1 EA 6 6 $550.00 $3,300.00 3 3213.0301 4" concrete sidewalk SF 11485 11485 $6.00 $68,910.00 4 Stop Sign Installation 2 2 $500.00 $1,000.00 5 3217.4402 Thermoplastic Arrow Removal EA 2 2 $250.00 $500.00 6 REFL PAV MRK TY 1 WHT 4" SKP LNE LF 1207 1207 $3.00 $3,621.00 7 REFL PAV MRK TY 1 BLK 4" SKP LNE LF 1207 1207 $3.00 $3,621.00 8 REFL PAV MRK TY 1 WHT 6" SLD LF 834 834 $3.00 $2,502.00 9 REFL PAV MRK TY 1 DBL YEL 6" LF 575 575 $6.00 $3,450.00 10 REFL PAV MRK TY 1 WHT 8" SLD LF 308 308 $8.00 $2,464.00 11 REFL PAV MRK TY 1 YEL 18" SLD LF 250 250 $8.00 $2,000.00 12 REFL PAV MRK TY 1 WHT 24" SLD LF 26 26 $10.00 $260.00 13 REF TY II C-R Marker Quantity 78 78 $10.00 $780.00 14 REFL PAV MRK TY 1 WHT TRN ARROW Quantity 5 5 $155.00 $775.00 15 REFL PAV MRK TY 1 WHT COMBO ARROW Quantity 2 2 $285.00 $570.00 16 REFL PAV MRK TY 1 WHT "ONLY" Quantity 5 5 $230.00 $1,150.00 TOTAL UNIT IV: PAVING IMPROVEMENTS $533.425.00 Transportation Impact Fee Credit Agreement- CA-26-005 Page 12 of 14 Copper Ranch 5/26/2026 UNIT V: STREET LIGHTING IMPROVEMENTS 1 3441.3352 Furnish/Install Rdway Illum TY 18 Pole EA 6 6 $4,467.46 $26,804.76 2 3441.3051 Furnish/Install LED Lighting Fixture (137 watt AT132 Cobra Head) EA 6 6 $1,593.29 $9,559.74 3 3441.3302 Rdwy Illum Foundation TY 3,5,6, and 8 EA 6 6 $2,600.00 $15,600.00 4 2605.3011 2" CONDT PVC SCH 40 T LF 1240 1240 $36.49 $45,247.60 5 3441.1406 NO 3 Insulated Elec Condr LF 1240 1240 $20.25 $25,110.00 6 3441.1502 Furnish/Install Ground Box Type B, w/A ron EA 3 3 $3,200.00 $9,600.00 7 3441.1645 Furnish/Install Type 33A Arm EA 6 6 $1,506.93 $9,041.58 TOTAL UNIT V: STREET LIGHTING IMPROVEMENTS $140,963.68 UNIT VI: TRAFFIC SIGNAL IMPROVEMENTS 1 I 1 $0.00 TOTAL UNIT VI: TRAFFIC SIGNAL IMPROVEMENTS $0.00 Bid Summary UNIT III: DRAINAGE IMPROVEMENTS $200,988.73 UNIT IV: PAVING IMPROVEMENTS $533,425.00 UNIT V: STREET LIGHTING IMPROVEMENTS $140,963.68 UNIT VI: TRAFFIC SIGNAL IMPROVEMENTS $0.00 VALUE OF CFA26-0008, CPN 106289 ELIGIBLE CONSTRUCTION SUBTOTAL $875,377.41 Transportation Impact Fee Credit Agreement- CA-26-005 Page 13 of 14 Copper Ranch 5/26/2026 EXHIBIT F Allocation of Credits Credits shall be allocated by the Owner(s) on a first -come, first -served basis within the preliminary plat boundary of Copper Ranch Preliminary Plat, PP-24-044 and shall run with the land; provided, however, that no development within the boundary shall have the right to utilize credits under this agreement unless the Owner submits to the City a written request or notice approving the use of credits for the applicable development. s�ou�i�vr msti°ri�n arr _ 4 _ MPNMMMM� PRe1LIW�RYYUT COPPER RANCH ADDITION i1Y OYYURT WORTX, TAIIRAlaltt)IrNTY,TON1 ' RRllATRO iV TNRMRRRY ROR®tTROR 9URVRY, Transportation Impact Fee Credit Agreement- CA-26-005 Page 14 of 14 Copper Ranch 5/26/2026 FORT WORTH. City Secretary's Office Contract Routing & Transmittal Slip Contractor's Name: CB -DIRECT BONDS RANCH, LP Subject of the Agreement: Construction of paving, sidewalks, street light and drainage. M&C Approved by the Council? * Yes ❑ No M If so, the M&C must be attached to the contract. Is this an Amendment to an Existing contract? Yes ❑ No 0 If so, provide the original contract number and the amendment number. Is the Contract "Permanent"? *Yes 0 No ❑ If unsure, see backpage for permanent contract listing. Is this entire contract Confidential? *Yes ❑ No 0 If only specific information is Confidential, please list what information is Confidential and the page it is located. Effective Date: Date ACM signs If different from the approval date. Expiration Date: 10 years after ACM signs If applicable. Is a 1295 Form required? * Yes ❑ No 21 *If so, please ensure it is attached to the approving M&C or attached to the contract. Project Number: If applicable. CA-26-005 *Did you include a Text field on the contract to add the City Secretary Contract (CSC) number? Yes 0 No ❑ Contracts need to be routed for CSO processing in the followingorder: rder: 1. Katherine Cenicola (Approver) 2. Jannette S. Goodall (Signer) 3. Allison Tidwell (Form Filler) *Indicates the information is required and if the information is not provided, the contract will be returned to the department.