Coppell Greens 1-CN 980113The City WRh A Beauti~l Future
AGENDA REQL ST FORM
CITY COUNCIL MEETING:
ITEM CAPTION:
January 13, 1998
ITEM
Consideration of approving development agreements with Beal Mortgage, Inc. and Argus Development
Company of Texas, Inc. to allow for roadway impact fee credits in exchange for right-of-way
dedication to facilitate the construction of Denton Tap Road north of the S.H. 121 bypass and
authorizing the City Manager to sign.
SUBMITTED BY: Kenneth M. Griffin, P.E.,
TITLE: Director of Engineering & Public Works
STAFF RECOMMENDS: Approval X
STAFF COMMENTS:
See attached memo.
Denial
APPROVED
6'1'.
FINANCIAL CO~4ENTS: ~
azcr. EST.$
DIR. INITIALS: k7
Agen~ R~u~ Form - Revised 6/~
FIN. REVIEW'~
CITY MANAGERREVIEW:
~¢ument Name eng.2
MEMORANDUM
FROM THE
DEPARTMENT OF ENGINEERING
To:
From:
Mayor and City Council
Ken Griffin, P.E., Director of Engineering & Public Works
Consideration of approving development agreements with Beal Mortgage, Inc. and Argus
Development Company of Texas, Inc. to allow for roadway impact fee credits in exchange
for right-of-way dedication to facilitate the construction of Denton Tap Road north of the
S.H. 121 bypass and authorizing the City Manager to sign.
Date: January 13, 1998
As part of the opportunity to construct Denton Tap Road ahead of time by tagging onto the Lewisville
contract, one of the challenges was to acquire the right-of-way from the west side of Denton Tap Road,
north of the bypass. The property is owned by Beal Mortgage, Inc. and Argus Development Company of
Texas, Inc. The negotiations for the acquisition of the right-of-way revolved around the ability to obtain
offsetting credits against future roadway impact fees for the value of the right-of-way. Up front
negotiations of this nature are allowed per our Roadway Impact Fee Ordinance which states the owner of
a development may enter into an agreement with the City concerning methods used to determine the
amount of offsets to be given against impact fees for the development.
As part of acquiring the right-of-way at this time, the developers of the adjacent property have requested
that the City provide a 100% credit for the value of the right-of-way against the future roadway impact
fees. As Council is aware, this is not entirely out of line with what has been happening in the industrial
areas of Coppell where up to 75% credit has been given against roadway impact fees. Also, while a
100% credit is being given, it is given strictly for the value of the right-of-way. Short of executing these
agreements, the City would be required to purchase the right-of-way at or above the agreed upon per
square foot prices with the two adjacent property owners. Using the agreement mechanism, the City of
Coppell is out no dollars at this time and only provides credits against future fees that are due and payable
at development.
The adjacent property owned by Beal Mortgage is zoned Highway Commercial and the owner is
requesting a $4.00/per square foot value for their property. The property owned by Argus Development
Company of Texas, Inc. is zoned residential and the owner is requesting a $2.00/per square foot value for
the right-of-way. Neither one of the per square foot values are out of line with what the CiW has been
acquiring right-of-way for.
Again, this agreement will facilitate the construction of the northern portion of Denton Tap Road and will
not require the City to expend any dollars at this time for right-of-way acquisition. It will in essence only
establish a bank for the developers of those properties to be provided future credits. Staff recommends
approval of the development agreement with Beal Mortgage, Inc. and Argus Development Company of
Texas, Inc.
"CITY OF COPPELL ENGINEERING - EXCELLENCE BY DESIGN~'
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 Coppell Green Ltd., a Texas limited Partnership by
Argus Development Co. of Texas, Inc.
RECITALS
WHEREAS Argus Development Co. of Texas, Inc. is the owner of a 62.4 acre
Residential tract of land located along the west side of Denton Tap Road north of the
new State Highway 121 bypass, more particularly described in Exhibit 'A" attached
hereto (the "COPPELL GREENS SUBDIVISION"); and
WHEREAS the CITY desires to acquire right-of-way along Denton Tap Road
adjacent to the COPPELL GREENS SUBDIVISION; and
WHEREAS Argus Development Co. of Texas, Inc. desires to dedicate the
right-of-way, more particularly described in Exhibit "B" attached hereto, (the
"RIGHT-OF-WAY") along Denton Tap Road to the CITY in exchange for 100%
credit against future roadway impact fees to be assessed the COPPELL GREENS
SUBDIVISION; and
WHEREAS the dedication of the RIGHT-OF-WAY by Argus Development Co.
of Texas, Inc. will be in lieu of the CITY purchase of the RIGHT-OF-WAY at the
future date; and
WHEREAS the CITY desires to acquire the RIGHT-OF-WAY by dedication
from Argus Development Co. of Texas, Inc. in exchange for 100% credit against
roadway impact fees to be assessed by the CITY against the COPPELL GREENS
SUBDIVISION; and
NOW THEREFORE, in consideration of ten dollars ($10.00) the mutual
covenants and other valuable consideration, the sufficiency and receipt of which is
hereby acknowledged, the parties agree as follows:
1. Argus Development Co. of Texas, Inc. shall by separate instrument satisfactory
to the CITY, dedicate or grant the RIGHT-OF-WAY to the CITY on or before
/
2. ~ Upon dedication of the RIGHT-OF-WAY by Argus DeveloPment Co. of Texas,
Inc., the CITY agrees to provide a credit in the amount of 100% not to exceed two
dollars ($2.00) per square foot of the RIGHT-OF-WAY (the "CREDIT~) against future
roadway impact fees to be assessed against the COPPELL GREENS SUBDIVISION.
All parties hereto acknowledge that the CITY has no obligation to condemn or pay any
sum of money in connection with such dedication or grant of easement for the RIGHT-
OF-WAY. The partics further acknowledge that if the CREDIT exceed thc amount of
roadway impact fees assessed against the COPPELL GREENS SUBDIVISION or if
roadway impact fees are not assessed against the COPPELL GREENS SUBDIVISION
that the CITY shall not be liable for or be obligated to pay any such remaining credits
in case of cash equivalent to Argus Development Co. of Texas, Inc. or its successors.
3. NOTICE
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 Argus Development Co. of Texas, Inc., to:
Argus Development Co. of Texas, Inc.
6400 Uptown Boulevard, N.E., Suite 200W
Albuquerque, NM 87110
If intended for CITY, to:
City of Coppell, Texas
City Manager
P.O. Box 478
Coppell, Texas 75019
4. SUCCESSORS AND ASSIGNS
This AGREEMENT shall be binding on and inure to the benefit of the parties to
it and their respective heirs, executors, adminisu~ators, legal representatives,
successors, and assigns. This AGREEMENT may be assigned with the consent of the
CITY which consent shall not be unreasonably withheld, conditioned or delayed.
5. SEVERABILITY
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.
6. GOVERNING LAW
The validity of this Agreement and any of its terms and provisions, as well as
the rights and duties of the parties, s~all be governed by the laws of the State of Texas;
and venue for any action concerning this Agreement shall be in the State District Court
of Dallas County, Texas.
7. ENTIRE AGREEMENT
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.
8. AGREEMENT RUNS WITH THE LAND
The provisions of this AGREEMENT are hereby declared covenants running
with the COPPELL GREENS SUBDIVISION and are fully binding on all successors,
heirs, and assigns of Argus Development Co. of Texas, Inc. who acquire any right,
title, or interest in or to the COPPELL GREENS SUBDIVISION, or any part thereof.
Any person who acquires any right, title, or interest in or to the Coppell Greens
Subdivision, 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.
9. INCORPORATION OF RECITALS
The determinations recited and declared in the preambles to this AGREEMENT
are hereby incorporated herein as part of this AGREEMENT.
10. EXHIBITS
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 t/~-~ 7z/~ day of~)~c~' ~ , 1998.
CITY OF COPPELL, TEXAS ARGUS DEVELOPMENT CO.
By:
light'ITT, CITY MANAGER
OF TEXAS, INC.
By:
Name:
Title:
ATTEST:
By:
SECRETARY
APPROVED AS TO FORM:
CITY MANAGER'S ACKNOWLEDGMENT
STATE OF TEXAS
COUNTY OF DALLAS
BEFORE ME, the undersigned authority, a Notary Public in and for the State of
Texas, on this day personally appeared Jim Witt, City Manager of the City of Coppell,
Texas, a municipal corporation, known to me to be the person and officer whose name
is subscribed to the foregoing instrument and acknowledged to me that the same was
the act of the said City of Coppell, Texas, a municipal corporation, that he was duly
authorized to perform the same by appropriate resolution of the City Council of the
City of Coppell, and that he executed the same as the act of said City for the purpose
and consideration therein expressed and in the capacity therein stated.
IVEN UNDER MY HAND AND SEAL OF OFFICE this the /~-~f/~
, 1998. ~
My Conunission Expires:
day of
Public, State of Texas
CORPORATE ACKNOWLEDGMENT
COUNTY OF ~ ~
BEFORE ME, the undersigned aum~..ority a Nota~ Public in and for the State of
Texas, on this day personally appeared ~4.a4,)tO: .,~)g. ff_a,~~. : , of Argus
Development Co. of Texas, Inc.; being known to me to be the person and officer
whose name is subscribed to the foregoing instrument and acknowledged to me that the
same was the act of the said corporation, and that he executed the same as the act of
said corporation for the purpose and consideration therein expressed and in the capacity
therein stated.
u~ ---I~ GIVEN UNDER MY HAND AND SEAL OF OFFICE this the day of
~40_[[~J,D,/~ Ls f ,1998.
My Commission Expires:
Notary Publicl State of-~ //g4x) ~
BOUNDARY DESCRIPTION
BEING a tract of land situs4~ in the Clarinda Squires Survey, Abstract No. 16~2
and the William T. Hyder Survey, Abstract No. 1701 in D~nton Crusty, T~xas and bein~
I:mrt of a tract of land conveyed to BancPlus Savings Association by deed r~:orded in
Volume 2583, Page 245 of the Deed Records of Denton County, Texas and being more
particularly described as follows:
BEGINNING at a ½" iron rod at the northeast comer of the said BancPlus
Savings Association tract and being the southeast comer of a tract of land conveyed to
Annie Lee Roberts by deed recorded i~ Volume 2305, Page 131 of tbe Deed Recon~ of
Denton County, Texas, said point also bell3, g at the intersection of the north line of said
Clarinda Squires Sur~.ey with the west line of Denton Tap Road (an 80 foot right-of-
way);
THENCE S. 00000'24'' W., 1150.96 feet along the said west line of Deuton Tap
Road to a ½" iron rod for comer;
THENCE N. 89059'36" W., 229.41 feet leaving the said west line of Denton Tap
Road to a 1½" iron rod for comer,
THENCE S. 06°30'48'' W., 42.10 feet to a ½" iron rod for come~,
THENCE S. 24° ! 5'07"
THENCE N. 89°48'36''
THENCE N. 66017'50''
W., 332.95 feet to a ½" iron rod for corner,
W., 591.35 feet to a ½" iron rod for come~,
W., 774.41 feet to a ½" iron rod for corner;
THENCE N. 62°37'41" W., 197.01 feet to a ½" iron rod for corner,
THENCE N. 64055'48'' W., 368.52 feet to a ½" iron rod for comer, said point
being on the west line of the said BancPlus Savings Association tract, said point also
being on the east line of a tract of land' designated as Tract One and Tract Two, in a deed
to James H. Cummings and David K. Cummings, recorded in Voiume 1779, Page 653 of
the Deed Records of Denton County, Texas;
THENCE N. 00005'25'' E., 348.71 feet along the said common line of the
BancPlus Savings Association tract and thc James and David Cummings tract, to a '/,"
iron rod for comer;
THENCE N. 30~50'04'' E., 198.71 feet lenving the said west line of the BancPlus
Savings Association tract and the east line of the said James and David Cummings tract
to a '4" iron rod for comer;
THENCE N. 40"06'20' E., 175.50 feet to a ½" iron rod for comer;,
THENCE N. 10002'37" E., 76.$3 feet to a ',4" iron rod for comer,
THENCE N. 30"30'01" E., 241.61 feet to a ½" iron rod for corner, said point
being on the said north line of the Bane, Plus Savings Association tract;
THENCE S. 8~58'33" E., 1828.83 feet aionl the said north line of the BancPlus
Savings A.msocintion Ira~t to the Point of Beginnin{ and eontainin{ 62.406 ~
(2,718.420 'square feet) of land.
~rr #A"
BOUNDARY DESCRIPTION
TRACT 1
BEING a strip of land situated in the William T. Hyder Survey, Abstract No. 1701' in the
City of Coppell, Denton County, Texas and being part of a tract of land as conveyed to BancPlus
Savings Association by a deed recorded in Volume 2583, Page 245 of the Deed Records of
Denton County, Texas and being more particularly described as follows:
BEGINNING at a ~" iron rod found for comer on the west line of Denton Tap Road ( a
variable width fight-of-way), said point being the northeast comer of the said BancPlus Savings
Association tract and the southeast comer of a tract of land as conveyed to Annie Lee Roberts by
deed recorded in Volume 2305, Page 131 of the Deed Records of Denton County, Texas;
THENCE S. 00000'24" W., 1150.96 feet along the said west line of Denton Tap Road to
a ½" iron rod found for comer;
THENCE N. 89059'36'' W., 16.37 feet leaving the said west line of Denton Tap Road to
a ½" iron rod found for comer;
THENCE N. 00004'00'' W., 471.03 feet to a 'A" iron rod set for comer;
THENCE N. 00007, 17" E., 679.94 feet to a 'A" iron rod set for comer being on the north
line of the said BancPlus tract and the south line of the said Roberts tract;
THENCE S. 89058'33" E., 15.61 feet along the said common property line between the
BancPlus tract and the Roberts tract, to the Point of Beginning and containing 0.435 acres
(18,928 square feet) of land.
File/boundary.96-OSOe
EXI~]IT ~B'~
ANNIE' LEE ROBERTS
TURNBERRY IN. ~ I n'
DO~DE¥, ANDERSON
5225 VILLAGE CREEK DRIVE
(972) 9,31-0694
POINT OF
15.61'
'N89'59'36"W
16.37'
& ASSOCIATES, INC.
SUITE 200
PI. ANO, TEXAS 7509,3
BEGINNING
R.O.W DEDICATION
TRACT 1
CITY OF COPPELL
WILLIAM T. HYDER SURVEY
ABSTRACT No. 1701
DENTON COUNTY, TEXAS
CALE 1"-- 100' DATE 12-29-97
OB NO, 96-080