NL Woodland Ctr 2-CS140203HOLMES COMMERCIAL
February 3, 2014 .............. rnpa(:�,J fee of
$41728,,54 walived
Mr. Michael Garza for dedcabon of
City of Coppell �ROW for ':�3ethd
265 Parkway Boulevard sc'hod.
PO Box 9478
Cop ell, Texas 75019
RE: ROW DedicAn & City Fees for Northlake Woodlands Center Retail
As part of our planned development conditions, we are deeding 2,401 square feet • our property to the
City of Coppell for future Right of Way (see attached Exhibit "A"). This is approximately 7% of our small
infill site. We recognize that Right of Way dedication is a common development practice in the City of
Coppell. However, due to the size of this site, dedicating this 7% of our property creates a hardship for us
2s developers.
We respectfully request that the Coppell City Council waive all our city-required fees, including those
listed in the attached Exhibit "B". The property in the Right of Way is being purchased for $16.98 per
square foot, which is a total of $40,769 (see Exhibit "C"). We estimate our city-required fees will be
approximately $15,039.
We are grateful for the opportunity to begin another commercial project in Coppell. We believe this
project will be a great asset to the tenants at Northlake Woodlands Center Retail and the City of Coppell
for years to come. We look forward to once again working with the City of Coppell on this project,
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R.O.W. Dedication 2,401.1 SQ FTE
DEVELOPMENT FEE TABLE
Project: NorthleikeWoocileind(.letilei .Lot2,Blo(,,,kA
Square Footage of ROW Dedication
m
Price per Square Foot of I-and $16.98
TOTAL PRICE OF ROW DEDICATION LAND $40,768.98
DIFFERENCE BETWEEN FEES & LAND PRICE $25,729.69 (Paid by Developer)
TOTAL
FEES DUE
NOTES
Water Impact Fee
(100% due at Issuance of Building Permit)
$2,403.00
Per Engineering Department
Water Tap Inspection Fee
$100.00
Per Engineering Department
(100% due at Issuance of Water Meter)
Water Meter Fee (Domestic)
$299.25
Pei- Engineering, Department
(100% due at Issuance of" Water Meter)
Water Meter Fee (IrrigationT-irefine)
$178.50
Per F'Ingineering Department
(100% due at Issuance of Water Meter)
Water Metere Deposit (Domestic)
$30.00
Per Engineering Department
(100% due at Issuance of Water Meter)
Irrigation/Fireline Meter Deposit
(100% due at Issuance of Water Meter)
$30.00
Per Engineering Department
Wastewater Impact Fee
$1,503.00
Per Engineering Department
(1000,/o due at Issuance of Building Permit)
Wastewater Tap Inspection Fee
$50.00
Per Engineering Department
(100% due at Issuance of Building Permit)
Utility Final Inspection Fee
$50,00
Per Engineering Department
(100% due at Issuance of Building Permit)
Park Fee
WOO
Per Engineering Department
(100% due Prior to Filing Plat)
Roadway Impact Fee
$4,728.54
Per Engineering Department
(100% due prior to Filing Plat)
Street Light Fee
(100% due prior to Acceptance of'Project)
None
Estimated
Street Sign Fee
None
Estimated
(100% due prior to Acceptance of Project)
Construction Inspection Fee
$3,500.00
F'stirnated
( 100% due prior to Start ofConstrUCti011)
Fees
$2,167.01.
Estimated Permit Fees
Fuilding
ITOTAL ESTIMATED FEES
$15,039.29
Square Footage of ROW Dedication
m
Price per Square Foot of I-and $16.98
TOTAL PRICE OF ROW DEDICATION LAND $40,768.98
DIFFERENCE BETWEEN FEES & LAND PRICE $25,729.69 (Paid by Developer)
COMMERCIAL CONTRACT Of SALE
[Check all bases appheable to this Contract - Boxes nor checkedclo not apply to this Conlroct]
in consideration of the terms, provisions, covenants and agreements contained in this ConinjenQhd Contract of Sale (the
"Contract"), each of the partics, to this Contract agrees as follows:
1. PARTIES. TKI. Real Estate Inyqtnient, Inc. ("Seller") shall sell and convey to
("Purchaser") and/or their Assigns and Purchaser shall buy and pay for [lie Property (defined below),
2. PROPERTY. Being a 33.140 sr Hare root tract of UniulDrover! Land at the n
—
—nt east corner of D rilt-, T—
and Bethel School Road with tm address of 400 South Denton, Tap Hood in the City of(Lokpell , County,
Texas, further described a,,,: , or as described in Exhibit "A", LEGAL DESCRIPTION
and/or shown on Exhibit "B", SITE PLAN, together with all and singular, all improvements and fixtures situated thereon,
and all lights and appurtenances pertaining thereto, including any right, title and interest of Seller in and to adjaecin streets,
alleys or fighis-ofway and all mineral interests (such real estate, improvements, fixtures, rights and appurtenances being
collectively herein refeircd to as the "Property-).
3, PVRCHASE PRICE
The Purchase price for the Property is $_562
.710.00 (the "Purchase Price"), payable as follows:
A. The Purchase Price will be adjusted up Or (town based upon the land area of the Property as detertinued by the :survey.
The land area will be multiplied by a SIL98 per square four and Ole product will bccorric the Purchase Price at Closing, "rhe
land area for purposes of determining the Purchase Price will be the gross land area of" the Property unless this box EJ is
checked, in which case the land area for purposes oftleterouning the purchase Price will be tire Net Land Area (" defined in
Section 5A) of the Property.
C3 B. Cash payable at Closinga S—,
0 C. 'Tile balance of" the Purchase Price will be paid according to the provision in Addendum B-1, THIRD PARTY
FINANCING or Addendum B-2, SELLER FINANCING.
4. EARNEST MONEY AND TITLE COMPANY ESCROW,
A. Earnest Money. Within two (2) business days after the Effective Date ofilus Contract, Purchaser shall deposit earnest
money in the form of certified check, cashier's check or wire transfer in the amount of'Sip ,Q(WOQ (the "Earnest Money")
payable to Renublic Title Cu m an 8 0 , . aVA-h— o t va 1 "Cexas 19-1 1=21
(tile I'ftle ��.umpany''), in its capacity as escrow agent, to be held in "crew pursuant to the terms of this contract. Seller's
acceptance of this Contract is expressly conditioned upon Purchaser's timely deposit of' the Earnest Money with the TAIV
Company. If' Purchaser fails to firriely deposit the Earnest Motley, Seller may, at Seller's option, terminate this Contract by
delivering a written termination notice to Purchaser before Purchaset deposits tire Earnest Money, The 'rule. company shall
deposit the Earnest Money in one or more fully insured recounts in one or more Federally insured banking or savings
institutions. Any interest carried (in the Earnest Money will beconte a Part of the Earnest Money. At the Closing, the Earnest
Money will be applied to the Purchase price,
Notwithstanding anything herein it) the contrary, a portion of the Earnest Money in the arriount Of $500rol) will be non.
refundable and will be distributed to Seller upon any termination of flits Contract as full payment' and independent
consideration for Seller's performance under this Contract, Ifthis Contract is properly terminated by Purchaser pursuant to a
right of termination granted to Purchaser by any provision of this Contract, the Earnest Motley, less tile non-refundable
portion, will be pfoulpfly returned to Purchaser, and (lie parties will have no further rights or obligations under this Contract
texcc;n rut any that, by the explicit provisions of'this Contract, cxlnC3S1y SLUViVe Inc tClinination of this Contract),
B. Escrow, The Earnest Money is deposited with the Title Company with the understanding that the Title Company k not!
(1) responsible for the performance or non- performance of any party to this Contract: or (2) liable for interest on the finds
except to the extent interest has been earned after the funds have been deposited in an interest hearing account, lfbotb parties
make demand for the payment of the Earnest Mundy, the Title Company has the right to require from all parties and the
Brokers (defined below) a written release of liability Ofthe'ritle Company which authorizes the disbursement of the Earnest
Money, If only one party makes demand rot payment or the refundable portion of the Earnest Sloncy, the Title Company
shalt give written notice of the demand to the other party, Tile Title Company is authorized and directed to honor the demand
unless tile other party delivers a wri"en obJect to the'fittc Company within ten (10) days afivr that Party receives notice from
the Title Company
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