Lesley Retail Addn-CS081110
Page 1 of 1
Ken Griffin - Agreement for Dividend Drive
From:Ken Griffin
To:Todd Jones
Date:11/10/2008 1:14 PM
Subject:Agreement for Dividend Drive
CC:Mindi Hurley
Attachments:west leslie tract dev agree 11 10 08.doc
Todd
I've attached a generic "Developer's Agreement". It needs work and review by our attorney once the
blanks are filled in. Generally, it states that the city will provide a 100% credit against roadway impact
fees up to the combined value of the right of way and the road construction.
The final agreement will need approval by the City Council before the credits are officially created.
Hope this information helps.
Ken Griffin, P. E.
Director of Engineering & Public Works
972-304-3680
kgriffin@ci.coppell.tx.us
file://C:\Documents and Settings\radloo\Local Settings\Temp\XPgrpwise\491833C5City_...12/22/2009
STATE OF TEXAS §
§
COUNTY OF DALLAS §
DEVELOPMENT AGREEMENT
This AGREEMENT is made by and between the City of Coppell, Texas, a Home Rule
City (the “CITY”), and ______________________________________:
RECITALS
WHEREAS, _____________________________________________ is the owner of a
light industrial tract of land located along the ____________________________, more
particularly described in Exhibit “A” attached hereto as (the ______________________); and
WHEREAS, the CITY desires to acquire right-of-way for Dividend Drive that
transverses the referenced property and cause the construction of Dividend Drive; and
WHEREAS, ___________________________________________ desires to dedicate the
right-of-way, more particularly described in Exhibit “B” attached hereto, (the “RIGHT-OF-
WAY”) that transverses their property to the CITY and construct Dividend Drive, more
particular described in Exhibit "C" attached hereto (the "construction") in exchange for 100%
credit against future roadway impact fees to be assessed to the referenced property; and
DEVELOPMENT AGREEMENT – Page 1
WHEREAS, the dedication of the RIGHT-OF-WAY by
___________________________________ will be in lieu of the City’s purchase of the RIGHT-
OF-WAY at the future date; and
WHEREAS, the CITY desires to acquire the RIGHT-OF-WAY by dedication in
exchange for 100% credit against roadway impact fees to be assessed by the CITY against the
___________________________; and
NOW THEREFORE, in consideration of ten dollars ($10.00), the mutual covenants and
other valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the
parties agree as follows:
1.__________________________________________ shall by plat or separate
instrument dedicate or grant the RIGHT-OF-WAY to the CITY on or before
_____________________200_.
2.Upon dedication of the RIGHT-OF-WAY, the CITY agrees to provide a credit in
the amount of 100% not to exceed _______ Dollars ($_____) per square foot of the RIGHT-OF-
WAY for a total credit of ______________Dollars ($_____) and the value of the actual
construction cost of Dividend Drive (the “TOTAL CREDIT”) against future roadway impact
fees to be assessed against the ______________________________________________.
All parties hereto acknowledge that the CITY has no obligation to condemn or pay any sum of
money in connection with such dedication of grant of easement for the RIGHT-OF-WAY. The
parties further acknowledge that if the CREDIT exceeds the amount of roadway impact fees
DEVELOPMENT AGREEMENT – Page 2
assessed against the ______________________________________________ or if roadway impact
fees are not assessed against the ___________________________________ that the CITY shall
not be liable for or be obligated to pay any such remaining credits in cash or cash equivalent to
________________________________________ or its successors.
NOTICE
3.All notices required by this AGREEMENT shall be addressed to the following, or
other such other party or address as either party designates in writing, by certified mail, postage
prepaid or by hand delivery:
If intended for _____________________________________, to:
______________________________________
Attn:
______________________________________
______________________________________
If intended for CITY, to:
City of Coppell, Texas
Jim Witt, City Manager
P.O. Box 478
Coppell, Texas 75019
DEVELOPMENT AGREEMENT – Page 3
SUCCESSORS AND ASSIGNS
4.This AGREEMENT shall be binding on and inure to the benefit of the parties to it
and their respective heirs, executors, administrators, legal representatives, successors, and assigns.
SEVERABILITY
5.In the event any section, subsection, paragraph, sentence, phrase or word herein is
held invalid, illegal or unconstitutional, the balance of this AGREEMENT shall be enforceable
and shall be enforced as if the parties intended at all times to delete said invalid section,
subsection, paragraph, sentence, phrase or word.
GOVERNING LAW
6.The validity of this AGREEMENT and any of its terms and provisions, as well as
the rights and duties of the parties, shall be governed by the laws of the State of Texas; and venue
for any action concerning this AGREEMENT shall be in State District Court of Dallas County,
Texas.
ENTIRE AGREEMENT
7.This AGREEMENT embodies the complete agreement of the parties hereto,
superseding all oral or written, previous and contemporary agreements between the parties and
relating to the matters in this AGREEMENT, and except as otherwise provided herein cannot be
modified without written agreement of the parties to be attached to and made a part of this
AGREEMENT.
AGREEMENT RUNS WITH THE LAND
8.The provisions of this AGREEMENT are hereby declared covenants running with
the _______________________________________ and are fully binding on all successors, heirs,
DEVELOPMENT AGREEMENT – Page 4
and assigns of _______________________________________ who acquire any right, title, or
interest in or to the _________________________________________ or any part thereof. Any
person who acquires any right, title, or interest in or to the
_____________________________________, or any part hereof, thereby agrees and covenants to
abide by and fully perform the provisions of this AGREEMENT with respect to the right, title or
interest in such property.
INCORPORATION OF RECITALS
9.The determination recited and declared in the preambles to this AGREEMENT are
hereby incorporated herein as part of this AGREEMENT.
EXHIBIT
10.All exhibits to this AGREEMENT are incorporated herein by reference for all
purposes wherever reference is made to the same.
EXECUTED in duplicate originals this the _____ day of _______________, 200_.
CITY OF COPPELL, TEXAS
By: By:
Jim Witt, City Manager Name:
Title:
ATTEST:
By:
Libby Ball, City Secretary
DEVELOPMENT AGREEMENT – Page 5
APPROVED AS TO FORM:
By:
City Attorney
DEVELOPMENT AGREEMENT – Page 6
CITY MANAGER’S ACKNOWLEDGMENT
STATE OF TEXAS §
§
COUNTY OF DALLAS §
This instrument was acknowledged before me on the _____day of _______________, 200_
by Jim Witt, City Manager of the City of Coppell, Texas, a municipal corporation, on behalf of
said corporation.
Notary Public, State of Texas
My commission Expires:
DEVELOPMENT AGREEMENT – Page 7
CORPORATE ACKNOWLEDGMENT
STATE OF TEXAS §
§
COUNTY OF DALLAS §
This instrument was acknowledged before me on the _____ day of _______________200_,
by , of
_____________________________, on behalf of said corporation.
Notary Public, State of Texas
My Commission Expires:
DEVELOPMENT AGREEMENT – Page 8
EXHIBIT “A”
LEGAL DESCRIPTION OF PROPERTY
DEVELOPMENT AGREEMENT – Page 9
EXHIBIT “B”
LEGAL DESCRIPTION OF RIGHT-OF-WAY
for
DEVELOPMENT AGREEMENT – Page 10
EXHIBIT “C”
DECRIPTION OF CONSTRUCTION
for
DEVELOPMENT AGREEMENT – Page 11