HomeMy WebLinkAboutContract 45343 (w;3TY SECRETARY -
CONTRACT NO, '2LWL�
TRANS POR AT N IMPACT FEE CREDIT AGREE ENT
THIS TRANSPORTATION IMPACT FEE CREDIT IB'" AGREEMENT the
`"Agreement'') is made and entered into effective as of the Effective Date s defined
bNe of , by and among THE CITY OF FORT WORTH, TEXAS the "'City"), a Texas
home rule municipal corporation, and JOE CARL PAYNE, Indi*vidually and as Trustee
for the S P TRUST B and the JCP TRUST A JCP IRA, LLC , a Texas limited liability
Company; PAUL G. BANKS; and ROBERT M. BANKS (collectively, the "Owner,"') (the
City and the Owner are sometimes referred to herein n as a "Party", and collectively, the
"'Parties").
RECITALS
WHEREAS, t he Owner is the owner of approximately 26.463 acres in Tarrant
County, Texas, as described by etes and bounds in hlb ° "A" the "Property"')
located within the corporate boundaries of the City. A map of the Property showing its
oc �tt�ache�d. hereto as Exhibit BB'- and
E'REAS, the Owner desires to proceed with develop ment of the Property as
described or illustrated on the Development Plan, attached hereto as E hiblt "C"'
which Development Plan identifies tie ten ed land uses in relation to the layout of
on-site and off site transportation facilities necessary for searing full development of the
"roper and
WHEREAS, the City ty hadopted a 'Transportation Impact Fee program
Pursuant to Texas Local Government Cole Chapter 395, Ordnance No. 18083-05-2008,
as amended, codified at Chapter 30, Article VIII of the City of Fort Werth Code of
Ordinances under which charges "impact fees" are imposed on new development for
transportation facilities serving the development and which are identified within the
City's adopted transportation improve ments plan; and
EREAS, transportation rtation p act fees must be collected and spe nt within the
service areas in which the new development is located; and
WHEREAS, the property is located within service area Y; and
EREAS,, the transportation facilities shown on the Development Plan are
rn
identified within the City's adopted transportation improvements ply; and
M
VVIJEREAS, City Code, Chapter 30, Article VIII, Section 30481 81 et seq , provide
for credits against impact fees for dedication or constructic r c.�f transportation
improvements shown on the adopted ted trans ,�rta.tio improvement " , i
ECORD
OFFICIAL R
Cil T ran wo riat i ori,_Ln
1pqct Fee Credit AgEeern�nt XP& Banks
p p
L R ;]
CITYSECRETARY
r��t Rigc I of 17 T TX
0 Wo TH,TX
RECEIVED . �"
0 "1 21G11 03
WHEREAS,, Owner agrees to dedicate the right-of-way necessary for the
transportation 'improvements shown on the Development Plan in exchange for credits
against future trans portation 'impact fees; and
WHEREAS, based on the anticipated traffic impacts from the development. the
City and Owner contemplate the necessity for the construction of system facilities,
which must be credited against transportation impact fees otherwise due; and
WHEREAS, the City, in accordance with Chapter 395, has determined the
maximum transportation impact fees to be charged against new development within
service area Y to be $1,213 per service unit; and
WHEREAS, the Owner has dedicated 116,881 square feet of right-o�f-way for
McPherson Blvd by a document in the Real Property Records of Tarrant County,.,
Document Number
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 for the basis, upon which the Parties negotiated and entered
into this Agreement,
2. Transportation Imp,rovements. Owner agrees to dedicate the rights-of-
way for the system facilities identified in Exhibit "D,". which 'is, attached hereto and
incorporated her,ein by reference. For any transportation improvement which has been
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 "U'.
I 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. Phasinx. The Parties acknowledge that, where it is anticipated that the
project shall be developed in phases, the anticipated construction of improvements by
phase shall be as depicted, in Exhibit "U', which is attached hereto and incorporated
herein by reference.
Transportation Impact Fee Credit Agreement—JCP& Banks
Page 2 of 17
Allocation of Credits by Phase. The general allocation of credits, to each
phase of the development shall be as shown on Exhibit "F which * I
I 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 given shall either be guaranteed through an executed Community
Facilities Agreement or approved and accepted by the City. The Parties further agree
that,, prior to the application, of a credit against transportation impact fees otherwise due
f or any unit of development; the following events shall take place:
(a) The ]Parties have entered into a Community Facilities Agreement
for the dedication or construction of the system facility;
(b) The number of credits resulting from such improvement has been
valued; and
(c) Concurrent with final plat approval, a credit allocation shall be
provided by the developer for the phase of development to which the credit is to be
applied, which allocation may either assign the credit, expressed in dollars, to each
finally platted lot or may create a credit-pool to be utilized by that phase of
development. I
(d) To the extent that any credit balance remains after allocation of
credits this Ageement may be amended to allocate such unused credits to subsequent
phases of the development.
6. Proportionality. Owner; agrees and understands that notwithstanding the
dedication of right-of-way and allocation of credits against transportation impact tees
herein, the obligation to construct transportation improvements to serve the
development area shown on Ex. C shall remain subject to impact fee assessments,
additional credits, and rough proportionality analysis when Owner submits a final plat
application for any portion(s) of the development.
7. Term and Effective Date. The initial term of this Agreement shall be ten
(10) years from its Effective Date which shall be the date on which the last party
executes the Agreement.
8. A ent to Run with the Land. Owner shall have the right to asstgn
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 tl-Lis Agreement, Each Owner's, Assignee shall become a Parity to, this
Trans ortation 1111pact Fee Credit Aty're erne nt --JCP& Banks
Page 3 of 17
Agree upon the execution of such assignment. In no event may this Agreement be
construed to authorize assignment of any credits attributable to a sys,tem facility to be
dedicated or constructed hereunder for use outside the boundaries of the Property.
9. Amendment.. This Agreement shall not be modified or amended except as
follows-*
(a) Any amendment or modification to this Agreement or any Exhibit or
schedule hereto shall e n writing and signed by the Parties.
(b) Any revision, amendment, 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 C-ouncil, or designated city official.
10. 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.
(Re ainder of Page Intentionally Left Blank)
Transoortation Im act Fee Credit Avrq�e—rn-�—nt-- JCP1& Banks
Pa,crie 4 of 17
IN WITNESS WHEREOF., the undersigned parties have executed this
Agreement as of the day of 2013.
0 0
CITY OF FORT'WORT'H, OWNERS.
Fernando Costa A
Assistant City Manager Jo:6L P a n Ov%Wr-
Recommended By-, Robert Michael Banks
�A
Aandle Ha vood Paul Gle6n Banks"
Director, Planning and Development
*oA 44L.,
Carl Payne, Trus-tee of the SSP Trust
Approved as, to Fo and Legality:, B/
Dated May 21, 2009
Doug lay 'Black J� far l PMayne, frug e of the JCP Trust
W.
Assistant City Attorney B/
M&C: None required Dated May 21, 2009
ATTEST-. JCP-IRA, LLC, a Texas Limited Liability
Company
#0811111111111
ilia AA
B y.-
T_
Mary J. Y r
a 10 R#r T
Payne, Vffnager
City Secr a-ry
OWN"
NO M'&C REQUIRED %
OFFICIAL RECORD
CIAL RECORD
r
CITY SECRETARY
4 rX
Wo Tj I I
TranVort,afion Irrivact Fee Credit AgIreement JCP& Banks FTv WORTHs TX
Page 3" of'17
IN WITNESS WHEREOF, the undersigned parties have executed this
Agreement as of the day of 2013.
CM OF FORT WORTH: OWNERSO
1 Costa do
Assistant City Manager Joe C., Payne, Owner
;460010,
lRecommended By:
Robert Michael 13anks
Randle Harwood Paul Glenn Banks
Director,Planru'ng and Development
Joe Carl Payne, Trustee of the SSA" Trust
It 3,0
Approved as to Form and Legal",ty:
Dated May 21, 2009
Dough-is Black Joe Carl Payne, Trustee of the JCP Tritst
Assistant City Attorney Bir
0 Dated May 21,2009
1�4&C: No�ne requ"zed
ATTESTV-
J01-IRA, LLC, a Texas Limited Liabivll'ty
Company
Mary J" Kayser
City Secretary Joe Payne, Manager
m —)CP&Banks
1.9 tee Mt
page 5 of 17
EXHIBIT LIST
A" Description of the Property
B" Map of Property
"C"' Development Plan
"D"' Transportation Improvements
"E" Credits Against Trans p�o�rtatio pact Fees
"'F"' Allocation of Crediets.
"rranv
� y�� act Fee Credit Acg,� enierit—JCP & an
Page 6 of 17
EXHIBIT A
Description of Property
LEGAL DESCRIPTION
-11 11512,712 SO. FT. /26.46216 ACRES
BEING a 26.4626 acre tract of land situated in the J. J. ALBIRADO SURVEY, ABSTRACT NO. 4, Tarrant County,
Texas and being a part of that called 29.2961 acre tract of land conveyed by deed to Joe Cad Payne, recorded in
Volume '10,278, Page 582, Deed Records, Tarrant,County, Texas (D:.R.T.C.T.) and being more particulady described
as follows:
BEGINNING at a 5/81* iron rod with a plastic cap stamped ""Sur con" f0Und for comer in the wiesterty rilight-of-way line
of Chisholm Trail Parkway (State Highway 1 ) and being the southwest corner of that called 2.834 acre tract of land!
conveyed by deed to Texas Transportation Commission, recorded in Document No. D207319265, D.R,.T.C.T. and
also being in the South line of sad called 29,296 acre tract of'land,
I
THENCE, N 89 deg. 45, min- 0101 sec. W, along the south line of said called 29.296 acre tract of land, a distance of
i Frith a plastic cap, stamped "Carter& Burgess"' found for comer,
1887.11 0 feet to a, 518" iron rod wi , I
THENCE N 50 deg. 47 min. 11 sec. W, along the southwest line of said called 29.296 acre tract of Band, a distance 0111
704.19 feet to a 5/8" iron rod with a plastic cap stamped "Carter& Burgess" found for comer in the center of Sun
COUntry Boulevard, (a 120' R.O.W.)-,
THENCE N 39 deg. '12', min. 49 sec. E, along the center of said Sun Country Boulevard, a distance of 500.00 feet toca
5/8" iron rod with a plastic cap stamped "Carter& Burgess" found for corner in the center of NIcPherson Boulevard (a
120P R.O-W.)-o
THENCE S 5,0 deg. 47 min. I I sec. E, along the center of said N1cPherson Boulevard, a distance of 95.65 feet to, ra 5,�
iron rod with a plastic cap stamped "Carter & Burgess" found for corner and being the beginning of a curve to the left
having a central angle of 38 deg. 57 min. 49 sec., a radius of 1400.00 feet and a chord: which bears S 70 deg. *16 min
05 see. E, a distance,of 933-83 feetI-,
THENCE southeastefly, along the center of said McPherson Boulevard and along the said curve, an arc distance of
952.06 feet to a 5/8" iron, rod with a Plastic cap stamped "Carter& Burgess" found, for comer arid being the end of sail
curve)
THENCE S,89 deg. 45 min. 00 sec'. E, continuing along the center of saild McPherson Boulevard, a distance of
11,13.71 feet to a 5/8" iron rod with a plastic cap stamped "SUNcon" found for corner in the vested y right-of-wa line
of said Chisholm Trail Parkway-,
THENCE S 00 deg. 20 min. 49 see. W, along the westedy right-of-way line of said Chisholm Trail Parkway, a distance
of 791.7,11 feet to a 5/8- iron rod with a plastic cap stamped "Surveon" found for corner',
THENCE S:07 deg. 31,11 min. 30 sec- E,, a distance of 3183,8,2 feet to the POINT OF BEGINNING and containing
I
t'l 52,7 12 sq. ft. or 26.4626 acres of land.
T�ansportation Impact Fee Credit Agreement-JCP& Banks
Page 7 of 17
E-%,A rr T
nIBIT B
Map f Property
TransDortation 1m pact,,Fee Credit Ageement ----,MCP& Banks,
Page,8 of 1,7
Iw
12 ��� .
RQ
. j'
,
i Ak
e
fe
IS
ff �
1 W
f r
t
NN
a►)p►
LO
IL
N
r
; .
N
N
�d N
r a� Pi
A > NM
pxT.r.T,
LA rn C CAAM I AM
cwsm o i,�"AsrwA fir"'
( lit)
EXHIBIT C
Trans rtation Impact, Fee Credit r ime r JCP Batiks
Page 9 of 1,'
Development Ma
i
a
The entirety of this property is zoned
E — Neighborhood Commercial and
ere has been no formal develop-
rinent application submitted to the
City of Fort Worth as of August
`)Inn :z
W
J4
xP
L to -0040 11111114 POWs
n
�l
PI
*R,
It
" w�
^'�.,...Mme!�*„....
¢akor.I �
OM WAO 4.
Transportation 11mlipact Fee Credit Agreement JCP& Banks
Page 10 of 17
EXHIBIT D
Transportation Improvements
"Frans rwrtation Impact Fee Credit Al;reernent —Al"'T & as
Page I I of 17
FORT W01 RT H%V
JCP Trust
04,
U
t,4
Developer Built Roads',
rN,
Accepted
Y
Anticipated
Elio We for Credit Against
46,
Iransportation Impact Fees `,;,1$
k
wiq
71
UP,
'199
�A,
7021
N
06
's
'P,
4,1111�11161���,0
a........JIM
r
;,�
,z
40
lift
"61
7,
40
At
Ai
I 1411�
A
o ;..............
DOE
Associated Improvements Limits
Number
J
69139 Right-of-Way dedication for JCP Trust Property Limits
McPherson Boulevard
q,,�Ay&
V
Z
4
"g, v�
A 1�4z If �V'44
Alk /11.35
Transportation Impact Fee Credit A gl�ee�ment—JCP& Banks
Page 12 of 17'
EXHIBIT E
CreditsAgainst Transportation Impact Fees
Right-c>f-Way Valuation for McPherson Blvd from Old Granbury R,d to Chisholm Trall Pkwy
Construction Cost
McPherson BIB West 108711043.10
'TOTAL $ 1,871,043.10
'Value of Total Project Right-of-Way (20% of Construiction Cost) 374,2 2
Total Construction Project R,ight -Way (North half'of McPherson Blvd) 293,185 sq ft
Right-of-Way Value Per Square Foot 1.28
JCP Trust Right-of-Way Dedication
McPherson Blvd
TOTAL, 116,881 sq ft
R.O.,W'. Credit Available 1490607-68
To Credit Availab[e 1491607.68
Transpg r_t.a_t,i g act Fee Cr ed iLA&ree tile tit—JCS" & Banks
Noe 13 of 17
0
Capacity Provided by McPherson Blvd from Old Cranbury Rd to Chisholm Trail Pkwy
Paving
Afj"'
E I g b
"Ubit�Prlc
M 100
fm/III,
D6&�o Total,',�v",
-of
Qua tot
A lro u n
T'�*,"VI II" U n AG
2t,
IN
W danit ty,'
1 Pavement(Including on-street bike lane and 5-ft LF $ 270.00, 5,5510 5,5510 1,498,500.00
3 W/SS Utilities LF $ 0 0 $
6 Franchise utility coordination(relocation of overhead LS $ 50,000.00 1 0 $
elec as needed,extend electricity and transformers,as
required for streetlights)
7 Tree planting for Urban Forestry Phase,2(1 tree/150 LF) EA 5001.00 40.01 0.0
0;
Paving Subtotal 1,498015,0101.�01
Storm Drain
'k
Yj
q,
Eli J. IR b 1 6(!,
'j al An
A z
-7P
Olt
1r �
escrif ;//.. ... ..rr, �t A
Q U 01 ',-)
a,n u a n t I
4� WIM r.
a
Ion Yr
lit"
6w 0,
Unit,P'r*
N
low"
2 Storm Drainage(Includes inlets,laterals,mains,etc) LF $ 50.00 4,600, 4,600 2130,000.00
5, Culverts for shared eavement section[East end LS 50,000.00 1 1 50f0001.00
Subtotal 2801000.00
Pro rata i share from arterial 13%
Storm Drain Subtotal 36,400.00
Street Lights
t 111
I i g i b I ",,k
"";, � , " M
"I I� .5,
U Jar
ni ,0"i"ei /,y i 6 ri t"),""/
6 a Yrr
jn
x1//,/1i U", r c r <f antln�& u,an
x
4 Street Lidhting(1 ea 20O LF EA 4,980.00 25.00 25.010 $ 124,500. 0
Street Lights Subtotal $ 124,500.FO
Paving Subtotal, $ 1,498,500.00
Storm Drain Subtotal $ 36o4OO.00
Street Lights Subtotal 16%of Paving and Storm Dram) $ 92,094.00
CONSTRUCTION SUBTOTAL $ 1,871,043-101
Other Eligible Items
...........
A rn o Li t,,,,,
4 VG/IW Powry's f�I nr
Engineering,Surveying,and Material Testing $ 374,208.62
Tootal Value of Capacity ProWilded,"', $2o2,451,251.72
"`rats poration Impact Fee Credit Agrevrnent—JCP& Banks,
Page 14 of 17'
Page
Arterial Contribution to Total Storm,Water Flo
McPherson Blvd West
rrrrrrrw
W a a r
M #AI PAvJV'ql/r,+P tPr a i1rlP,y / f V. r/ Akl 6
Ar
N
rif!! rt///rH//,t✓i f/r'' �Vr y�n�P 1 ''w �%r i I4N;ti
i
r
i% ''� i�v"I r�,'li, /1�/„ a!rir 1✓.r r v, h r ,. a
r
Al 56 Development Al-2 8,96 Aerial
A1 Arterial A1-3 5.26 Arterial
Al 3 5.26 Arterial Al 1 0,77 Arterial
A 1-4, 1 0.77 Arterial 131-2 1 2.58 Arterial
Al-5 49.82 Development, 2-3 1 2.25 Ar ri
1- 22-912 Development 132-4 5,35 Arterial
131-2 12.518 lArterial 3-1 14.311 Arterial
B2-1 20.32 Development 3-2 8.63 Arterial
B2-2 4537 'Development T 78.111 12.70%,
2- 12.25 Arterial
B2-4 5.31 Arterial
1331-11 14.31 Arterial
133-2 8.63 Arterial
1 -3 3,491-35 Development
TOTAL 614.85
Trar rt�t ar I r' pct "ee C,re i it A��) e1e_= t .- 1'C ar s
Page 1.05 of
EXHIB�IT'F
Allocation of Credit's
Transportation [m JCP'& B,anks
Fee Credit Ag reeme�nt
Page 16 of 17
F4
)7 A
Property within the bou�ndar
y
is eligible for 100%credit,
allocation, on a first-come,
I I
first'-served basis until said
credit is, exhausted.
OF
*000 AWA
ri
1,41 1
A > rCYAS,TOMOUKA"10M
TMMOM
:AUAV IAM ACA"
............
CHISHOLW nWL,?"&wA,r
"121)
rr
...........
Tran ortafilon Impact Fee Credit APreenient JCP& Banks
Page 1 7 of 17