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HomeMy WebLinkAbout065272 - Construction-Related - Contract - GRBK Edgewood LLCCSCO NO. 65272 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, GRBK Edgewood LLC, a Texas limited liability company ("GRBK") and Meritage Homes of Texas, LLC, an Arizona limited liability company ("Meritage"), authorized to do business in Texas (collectively, the "Owner") (the City, and the Owner a "Party", and collectively, the "Parties"). RECITALS WHEREAS, the Owner is the developer and is or has been the owner of approximately 147.555 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 E; 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 cause the construction of 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 Chapel Hill West, PP- 22-016, on 10/28/2022; and OFFICIAL RECORD Transportation Impact Fee Credit Agreement- CA-25-002 Page 1 of 17 Chapel Hill West CITY SECRETARY 5/22/2026 FT. WORTH, TX WHEREAS, the Owner has dedicated 96,116 square feet of right-of-way for Fleming Ranch Road with FP-24-065, recorded as Instrument D225227874, on 12/05/2025; and WHEREAS, the Owner has dedicated 169,047 square feet of right-of-way for Fleming Ranch Road with FP-24-163, recorded as Instrument D226016419, on 1/30/2026; and WHEREAS, the Owner has received approval for construction plans (IPRC23-0004) on 11/21/2024, and executed a Community Facilities Agreement (CFA24-0183, CSCO 62603), to fund a Future Improvement Agreement, City Project Number 104387, on 01/10/2025. WHEREAS, the Owner has received approval for construction plans (IPRC24-0094) on 3/11/2025, and executed a Community Facilities Agreement (CFA24-0183, CSCO 62603), to fund a Future Improvement Agreement, City Project Number 105382, on 01/10/2025. 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. Phasiniz. 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). Transportation Impact Fee Credit Agreement- CA-25-002 Page 2 of 17 Chapel Hill West 5/22/2026 6. Term and Effective Date. The term of this Agreement shall be ten (10) years from its Effective Date. 7. Assignment. Owner shall have the right to assign this Agreement to any person or entity ("Owner's Assignee") with the written consent of the City, provided: (a) the assignment is in writing executed by the Owner and its assignee; and (b) the assignment incorporates this Agreement by reference and binds the Owner's Assignee to perform (to the extent of the obligations assigned) in accordance with this Agreement. Each Owner's Assignee shall become a Party to this Agreement upon the execution of such assignment. In no event may this Agreement be construed to authorize assignment of any credits attributable to a system facility to be dedicated or constructed hereunder for use outside the boundaries of the Property. A credit agreement amendment executed by the City, any remaining Owners, and the Owner's Assignee will be required to formally transfer any credits for use. 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-25-002 Page 3 of 17 Chapel Hill West 5/22/2026 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 I Jesica McEachern Assistant City Manager Date: 05/31 /2026 Recommended By: Dalton Harrell -(May 26, 2026 23:18:57 CDT) DJ Harrell Director, Development Services Approved as to Form and Legality: Douglas Black (May 29, 2026 17:14:37 CDT) Douglas Black Assistant City Attorney M&C: None required Form 1295: None required gpp4vpnn� or ATTEST: �poo°FOR o%o o° p C E"o '9�Idd Ovoo a=d a. %J aaan nEX ASo4'o Jannette Goodall City Secretary Transportation Impact Fee Credit Agreement- CA-25-002 Chapel Hill West 1� ' GRBK Edgewood LLC a Texas Limited Liability Company Bobby Samuel Vice President Meritage Homes of Texas, LLC an Arizona Limited Liability Company -::I_ Frank Su (May 26, 2026 11:58:53 CDT) Frank Su Vice President — Land Acquisition 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 Page 4 of 17 FT. WORTH, TX 5/22/2026 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-25-002 Page 5 of 17 Chapel Hill West 5/22/2026 EXHIBIT A Description of Property: Chapel Hill West, PP-22-016 BEING 147.555 ACRES (NET) OF LAND SITUATED IN THE T. & P. RR. CO. #29 SURVEY, ABSTRACT NO. 1568, THE M. E. P. & P. RR. CO. #19 SURVEY, ABSTRACT NO. 1138, THE THOMAS HICKS SURVEY, ABSTRACT NO. 1818, AND THE BENJAMIN THOMAS SURVEY, ABSTRACT NO. 1497, CITY OF FORT WORTH, TARRANT COUNTY, TEXAS AND BEING A PORTION OF A TRACT OF LAND DESCRIBED TO CHAPEL HILL WEST, LLC., BY DEED RECORDED IN COUNTY CLERK FILE NO. D218219520 OF THE OFFICIAL PUBLIC RECORDS OF TARRANT COUNTY, TEXAS AND BEING MORE PARTICULARLY DESCRIBED BY METES AND BOUNDS AS FOLLOWS: BEGINNING AT A 3/8-INCH IRON ROD FOUND ON THE SOUTH RIGHT-OF-WAY LINE OF W. BONDS RANCH ROAD (A VARIABLE WIDTH RIGHT-OF-WAY) FOR THE NORTHWEST CORNER OF CHAPEL HILL OF FORT WORTH, PHASE I, AN ADDITION TO THE CITY OF FORT WORTH, TARRANT COUNTY, TEXAS AS SHOWN BY PLAT RECORDED IN CABINET A, SLIDE 10224 OF SAID OFFICIAL PUBLIC RECORDS; THENCE WITH THE WESTERLY LINE OF SAID CHAPEL HILL ADDITION, THE FOLLOWING COURSES AND DISTANCES: SOUTH 33000'00" WEST, A DISTANCE OF 181.76 FEET TO A 5/8-INCH IRON ROD WITH PLASTIC CAP STAMPED "LJA SURVEYING" SET (HEREAFTER REFERRED TO AS "5/8-INCH CAPPED IRON ROD SET"); SOUTH 15047'03" WEST, A DISTANCE OF 136.80 FEET TO A 1/2-INCH IRON ROD FOUND; NORTH 77009'51" WEST, A DISTANCE OF 2.14 FEET TO A 5/8-INCH CAPPED IRON ROD SET; SOUTH 1401 F31" WEST, A DISTANCE OF 195.29 FEET TO A 5/8-INCH CAPPED IRON ROD SET; SOUTH 75058'25" EAST, A DISTANCE OF 88.25 FEET TO 5/8-INCH IRON ROD FOUND FOR THE BEGINNING OF A CURVE TO THE RIGHT HAVING A RADIUS OF 1,231.32 FEET, AND A CHORD THAT BEARS SOUTH 67°32'40" EAST, 360.99 FEET; WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 16°51'30", AN ARC -DISTANCE OF 362.30 FEET TO A 5/8-INCH IRON ROD FOUND; SOUTH 59007' 12" EAST, A DISTANCE OF 29.44 FEET TO A 5/8-INCH CAPPED IRON ROD STAMPED "HUITT ZOLLARS"; SOUTH 30052'48" WEST, A DISTANCE OF 280.00 FEET TO A 5/8-INCH CAPPED IRON ROD SET; SOUTH 59007'12" EAST, A DISTANCE OF 45.00 FEET TO A 5/8-INCH IRON ROD FOUND; SOUTH 30052'48" WEST, A DISTANCE OF 82.00 FEET TO A 5/8-INCH CAPPED IRON ROD SET; SOUTH 59007'12" EAST, A DISTANCE OF 164.05 FEET TO A 5/8-INCH CAPPED IRON ROD SET; SOUTH 30018'24" WEST, A DISTANCE OF 19.28 FEET TO A 5/8-INCH CAPPED Transportation Impact Fee Credit Agreement- CA-25-002 Page 6 of 17 Chapel Hill West 5/22/2026 IRON ROD SET; SOUTH 63018'13" EAST, A DISTANCE OF 192.85 FEET TO A 5/8-INCH CAPPED IRON ROD SET; NORTH 26048'14" EAST, A DISTANCE OF 9.34 FEET TO A 5/8-INCH CAPPED IRON ROD SET; SOUTH 70040'24" EAST, A DISTANCE OF 272.98 FEET TO A 5/8-INCH CAPPED IRON ROD SET FOR THE BEGINNING OF A CURVE TO THE LEFT HAVING A RADIUS OF 648.00 FEET, AND A CHORD THAT BEARS SOUTH 80006'36" EAST, 212.49 FEET; WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 18°52'24", AN ARC -DISTANCE OF 213.45 FEET TO A 5/8-INCH CAPPED IRON ROD SET; SOUTH 89032'49" EAST, A DISTANCE OF 84.59 FEET TO A 5/8-INCH CAPPED IRON ROD SET; SOUTH 13019'44" EAST, A DISTANCE OF 99.77 FEET TO A 5/8-INCH CAPPED IRON ROD SET FOR THE BEGINNING OF A CURVE TO THE RIGHT HAVING A RADIUS OF 1,025.01 FEET, AND A CHORD THAT BEARS SOUTH 03004'15" EAST, 365.07 FEET; WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 20030'58", AN ARC -DISTANCE OF 367.03 FEET TO A 5/8-INCH CAPPED IRON ROD SET; SOUTH 0701 F15" WEST, A DISTANCE OF 61.87 FEET TO 5/8-INCH CAPPED IRON ROD SET FOR THE BEGINNING OF A CURVE TO THE LEFT HAVING A RADIUS OF 1,175.07 FEET, AND A CHORD THAT BEARS SOUTH 04°03'28" WEST, 128.31 FEET; WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 06015'34", AN ARC -DISTANCE OF 128.37 FEET TO A 5/8-INCH CAPPED IRON ROD SET; SOUTH 00055'47" WEST, A DISTANCE OF 43.70 FEET TO A 5/8-INCH CAPPED IRON ROD SET; SOUTH 89004'20" EAST, A DISTANCE OF 415.99 FEET TO A 5/8-INCH CAPPED IRON ROD SET FOR THE SOUTHEAST CORNER OF SAID CHAPEL HILL ADDITION AND BEING ON THE WEST LINE OF A TRACT OF LAND DESCRIBED TO JOHN M. BONDS BY DEED RECORDED IN COUNTY CLERK FILE NO. D187347814 OF SAID OFFICIAL PUBLIC RECORDS; THENCE SOUTH 00027'30" WEST, WITH THE EAST LINE OF SAID CHAPEL HILL WEST TRACT, A DISTANCE OF 332.95 FEET TO A 5/8-INCH CAPPED IRON ROD STAMPED "BROOKS BAKER" FOUND FOR THE COMMON CORNER OF SAID BONDS TRACT AND A TRACT OF LAND DESCRIBED TO MERITAGE HOMES OF TEXAS, LLC BY DEED RECORDED IN COUNTY CLERK FILE NO. D219292876 OF SAID OFFICIAL PUBLIC RECORDS; THENCE SOUTH 20036'07" WEST, WITH THE WESTERLY LINE OF SAID MERITAGE HOMES TRACT, A DISTANCE OF 395.86 FEET TO A 5/8-INCH CAPPED IRON ROD STAMPED "PELOTON" FOUND; THENCE SOUTH 69023'53" EAST, WITH SAID WESTERLY LINE, A DISTANCE OF 51.28 FEET TO A 5/8-INCH CAPPED IRON ROD SET, FROM WHICH A 5/8-INCH CAPPED Transportation Impact Fee Credit Agreement- CA-25-002 Page 7 of 17 Chapel Hill West 5/22/2026 IRON ROD STAMPED "PELOTON" FOUND FOR CORNER ON SAME LINE BEARS SOUTH 69023'53" EAST, 354.23 FEET; THENCE DEPARTING SAID WESTERLY LINE, OVER AND ACROSS SAID CHAPEL HILL WEST TRACT, THE FOLLOWING COURSES AND DISTANCES: SOUTH 20003'44" WEST, A DISTANCE OF 553.42 FEET TO A 5/8-INCH CAPPED IRON ROD SET; SOUTH 45029'23" WEST, A DISTANCE OF 270.89 FEET TO A 5/8-INCH CAPPED IRON ROD SET; SOUTH 12011'09" WEST, A DISTANCE OF 277.55 FEET TO A 5/8-INCH CAPPED IRON ROD SET; SOUTH 25012'37" WEST, A DISTANCE OF 709.94 FEET TO A 5/8-INCH CAPPED IRON ROD SET; NORTH 84049'28" WEST, A DISTANCE OF 78.30 FEET TO A 5/8-INCH CAPPED IRON ROD SET; SOUTH 00023'03" EAST, A DISTANCE OF 238.05 FEET TO A 5/8-INCH CAPPED IRON ROD SET; SOUTH 86057'07" WEST, A DISTANCE OF 416.17 FEET TO A 5/8-INCH CAPPED IRON ROD SET; NORTH 31049'02" WEST, A DISTANCE OF 283.54 FEET TO A 5/8-INCH CAPPED IRON ROD SET; NORTH 27029'55" WEST, A DISTANCE OF 1372.99 FEET TO A 5/8-INCH CAPPED IRON ROD SET; SOUTH 89033'09" WEST, A DISTANCE OF 109.25 FEET TO A 5/8-INCH CAPPED IRON ROD SET AT THE SOUTHEAST CORNER OF A TRACT OF LAND DESCRIBED TO THE CITY OF FORT WORTH BY DEED RECORDED IN COUNTY CLERK FILE NO. D219178556 OF SAID OFFICIAL PUBLIC RECORDS; THENCE NORTH 27050'54" WEST, WITH THE EAST LINE OF SAID FORT WORTH TRACT, A DISTANCE OF 280.58 FEET TO A 5/8-INCH IRON ROD SET FOR THE BEGINNING OF A CURVE TO THE RIGHT HAVING A RADIUS OF 1,382.91 FEET, AND A CHORD THAT BEARS NORTH 04039'38" WEST, 1017.58 FEET; THENCE WITH SAID CURVE TO THE RIGHT AND WITH SAID EAST LINE, THROUGH A CENTRAL ANGLE OF 43010'25", PASSING AT 614.12 FEET A 5/8-INCH IRON ROD FOUND FOR THE SOUTHEAST CORNER OF A TRACT OF LAND DESCRIBED TO EAGLE MOUNTAIN SAGINAW ISD BY DEED RECORDED IN COUNTY CLERK FILE NO. D207451969 OF SAID OFFICIAL PUBLIC RECORDS, AND CONTINUING A TOTAL ARC -DISTANCE OF 1042.05 FEET TO A 5/8-INCH IRON ROD FOUND; THENCE CONTINUING WITH THE EAST LINE OF SAID EAGLE MOUNTAIN SAGINAW ISD TRACT, THE FOLLOWING COURSES AND DISTANCES: NORTH 16052'51" EAST, A DISTANCE OF 252.21 FEET TO A 5/8-INCH IRON ROD FOUND FOR THE BEGINNING OF A CURVE TO THE LEFT HAVING A RADIUS OF 1400.02 FEET, AND A CHORD THAT BEARS NORTH 05°13'44" WEST, 1056.27 FEET; WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 44019'29", AN ARC -DISTANCE OF 1083.07 FEET TO A 5/8-INCH IRON ROD FOUND; NORTH 27023'30" WEST, A DISTANCE OF 145.49 FEET TO A 5/8-INCH IRON ROD FOUND FOR THE BEGINNING OF A CURVE TO THE RIGHT HAVING A Transportation Impact Fee Credit Agreement- CA-25-002 Page 8 of 17 Chapel Hill West 5/22/2026 RADIUS OF 599.81 FEET, AND A CHORD THAT BEARS NORTH 13°58'45" WEST, 278.35 FEET WITH SAID CURVE TO THE RIGHT, THROUGH A CENTRAL ANGLE OF 26050'02", AN ARC -DISTANCE OF 280.91 FEET TO A 5/8-INCH IRON ROD FOUND; NORTH 00031'37" WEST, A DISTANCE OF 56.01 FEET TO A 5/8-INCH IRON ROD FOUND ON THE SOUTH RIGHT-OF-WAY LINE OF AFORESAID W. BONDS RANCH ROAD (A VARIABLE WIDTH RIGHT-OF-WAY); NORTH 89024'43" EAST, A DISTANCE OF 377.32 FEET TO A 5/8-INCH IRON ROD FOUND FOR THE BEGINNING OF A CURVE TO THE LEFT HAVING A RADIUS OF 3,115.00 FEET, AND A CHORD THAT BEARS NORTH 81 °54'26" EAST, 813.67 FEET; THENCE WITH SAID CURVE TO THE LEFT, THROUGH A CENTRAL ANGLE OF 15°00'33", AN ARC -DISTANCE OF 816.00 FEET TO THE POINT OF BEGINNING AND CONTAINING A GROSS CALCULATED AREA OF 161.079 ACRES (7,016,595 SQ. FEET) OF LAND, SAVE AND EXCEPT A 13.524-ACRE TRACT OF LAND DESCRIBED TO EAGLE MOUNTAIN-SAGINAW INDEPENDENT SCHOOL DISTRICT BY DEED RECORDED IN COUNTY CLERK FILE NO. D208078256 OF SAID OFFICIAL PUBLIC RECORDS, FOR A NET CALCULATED AREA OF 147.555 ACRES (6,427,497 SQ. FEET) OF LAND. Transportation Impact Fee Credit Agreement- CA-25-002 Page 9 of 17 Chapel Hill West 5/22/2026 EXHIBIT B Map of Property: Chapel Hill West, PP-22-016 wmw �-- LOCATION � 4 VICINITY MAP NOT TO SCALE Transportation Impact Fee Credit Agreement- CA-25-002 Page 10 of 17 Chapel Hill West 5/22/2026 � ® r�MISIN �.VZ �i Transportation Impact Fee Credit Agreement- CA-25-002 Page 12 of 17 Chapel Hill West 5/22/2026 EXHIBIT D jible Transportation IR�70;1.... r _ail " W � BURROW J •,° `p° FORT x Ir— Chapel Hill West Eligible Transportation Improvements for Credit against Transportation Impact Fees Key - Development Plan Area - Future Improvement Agreement/Including ROW SCORp/ON OUSTBEND EL x ti DRY BROOK 2 -+ t7 O = CHARRIS n �+ 2 LONGWOOD m JO RAGGED O U REACH o ti D m 44 j rk e MCScoGee 1 Eligible Improvements Reference # Limits Fleming Ranch Road FP-24-065 Right -of -Way dedication Fleming Ranch Road FP-24-163 Right -of -Way dedication Fleming Ranch Road CFA24-0183 Fleming Ranch Road CPN 104387 Construction paving, drainage, streetlights & signs IPRC23-0004 CFA24-0183 West Bonds Ranch Road CPN 105382 Construction paving, drainage, streetlights & signs IPRC24-0094 Transportation Impact Fee Credit Agreement- CA-25-002 Page 13 of 17 Chapel Hill West 5/22/2026 EXHIBIT E Credits Against Transportation Impact Fees Chapel Hill West PH 1&2 Transportation Impact Fee Credit Overview Value of ROW Dedication Instrument # Final Plat # Eligible Arterial Value D225227874 FP-24-065 Fleming Ranch Road S444,055.9? D226016419 FP-24-163 Fleming Ranch Road S780,997.14 ROW Transportation Impact Fee Credit $19225,053.06 Value of Future Improvement Agreement City Secretary # CFA # Eligible Arterial Value CFA24-0183 62603 CPN 104387 Fleming Ranch Road S 1,579,317.25 IPRC23-0004 Value of Future Improvement Agreement City Secretary # CFA # Eligible Arterial Value CFA24-0183 62603 CPN 105382 W st Bonds Ranch Road $1,063,841.27 IPRC24-0094 Total Value * 25% for FIA $660, 789.63 Total Transportation Impact Fee Eligible $3,303,948.15 CommunityFacilities Agreement Value Total Transportation Impact Fee Credit $4,529,001.21 Transportation Impact Fee Credit Agreement- CA-25-002 Page 14 of 17 Chapel Hill West 5/22/2026 Right -of -Way Valuation for Chapel Hill West Ph 1&2 Valuation Method 1 - Percentage of TIP Project Cost Eligible Arterial Fleming Ranch Rd Fleming Ranch Rd 2022 Transportation Improvements Plan Project Number E-21 E-21 Estimated Construction Costs from 2022 Transportation Improvements Plan $40,510,000 $40,510,000 Value of Total Project Right -of -Way (20% Construction Cost) $8,102,000 $8,102,000 Total Project Length (LF) 13,515 13,515 Arterial Cross -Section Width LF 130 130 Additional ROW needed for Roundabout SF $0 $0 Total Project Right -of -Way SF 1,756,950 1,756,950 Right -of -Way Value Per Square Foot $4.62 $4.62 Valuation Method 2 - Percentage of Construction Project Cost Eligible Arterial Fleming Ranch Rd Fleming Ranch Rd City Project Number 104387 105382 Final Construction Costs from Notice of Completion (Green Sheet) $1,579,317.25 $1,063,841.27 Value of Total Project Right -of -Way (20% Construction Cost) $315,863.45 $212,768.25 Total Project Length (LF) 2,759 1,114 Arterial Cross -Section Width LF 65 65 Additional ROW needed for Roundabout SF 0 0 Total Project Right -of -Way SF 80,033 80,033 Right -of -Way Value Per Square Foot $3.95 $2.66 Valuation Method 3 - TAD appraised value TAD Value Fleming Ranch Rd Fleming Ranch Rd TAD Account 42778156 42778156 Total Area SF 805,032 805,032 Appraised Value $10,000.00 $10,000.00 Value per Square Foot $0.02 $0.02 Right -of -Way Dedication Fleming Ranch Rd Fleming Ranch Rd Recording Instrument Number D225227874 D226016419 Final Plat Number FP-24-065 FP-24-163 Recording Date 12/05/2025 1/30/2026 Total area of ROW dedicated SF 96,116 169,047 Value per SF $4.62 $4.62 ROW Credit Available $444,055.92 $780,997.14 Transportation Impact Fee Credit Agreement- CA-25-002 Chapel Hill West Page 15 of 17 5/22/2026 Allocation of Credits Credit shall be allocated on a first -come, first -served basis to building permits for the residential lots only within the preliminary plat boundary of Chapel Hill West Preliminary Plat, PP-22-016 and shall run with the land RUN 11 ■a sic- o� 1� mill �.\'�� �piiY Y.p7Sp7Cxpxk+Mw��;�11! V" ON Transportation Impact Fee Credit Agreement- CA-25-002 Page 16 of 17 Chapel Hill West 5/22/2026 �I ME W'I ! - -r *-IM MET Transportation Impact Fee Credit Agreement- CA-25-002 Page 17 of 17 Chapel Hill West 5/22/2026 FORT WORTH. City Secretary's Office Contract Routing & Transmittal Slip Contractor's Name: GRBK Edgewood LLC Subject of the Agreement: Credit agreement for a Future Improvement Agreement including right of way dedication. 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 of when 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-25-002 *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.