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ST9401-CN 980714 CITY COUNCIL MEETING: ITEM CAPTION: AGENDA REQUES July 14, 1998 ,.'ORM ITEM # ~/~ Consider approval of a development agreement with Centex Development Company to allow for roadway impact fee credits in exchange for right-of-way dedication to facilitate the construction of Denton Tap Road south of S.H. 121 bypass; and authorizing the City Manager to sign· SUBMITT~D BY: Michael A. Martin, i n ' STAFF COMMENTS: See attached memo. BUDGET AMT. $ FINANCIAL COMMENTS: AMT. EST. $ +/- BUD:$ DIR. INITIALS: Agenda Request Form - Revised 3/98 , f L/A t '-/ ,'~ / ' !~/' i/ -~ ',.l :,. . .j i C FIN. REVIEW:":.'; CITY MANAGER REVIEW: / Document Name: #engl MEMORANDUM FROM THE DEPARTMENT OF ENGINEERING To: Mayor and City Council From: Mike Martin, P.E., Asst. City Engineer ~4A iv7 R, Ez Consideration of approving developmere agreemere with Cemex Development Company to allow for roadway impact fee credits in exchange for right-of-way dedication to facilitate the construction of Denton Tap Road south of S .H. 121 bypass; and authorizing the City Manager to sign. Date: July 14, 1998 This development agreement is similar to the agreement approved by City Council on January 13, 1998 allowing credits to Beal Mortgage, Inc. and Argus Development Company of Texas, Inc. The agreement allows the developer 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 adjacem 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 properties owned by Centex Development Company are zoned Highway Commercial, Light Industrial and Commercial and the owner is requesting a $4.00/per square foot value for their property. The per square foot value is similar to the cost the City paid for Highway Commercial Zoned property on previous development agreements. Again, this agreemere will facilitate the construction of the southern portion of Demon 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 Centex Development Company properties as shown in Exhibit A of the developers agreements to allow for future roadway impact fee credits. Staff recommends approval of the development agreement with Centex Development Company. "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 Centex Development Company a division of Centex Homes, a Nevada general partnership f/k/a Vista Partners ("CENTEX"). RECITALS WHEREAS CENTEX is the m~aer of certain tracts of land located in Coppell, Texas East of Denton Tap Road south of the new State Highway 121 Bypass, more particularly described in Exhibit "A" attached hereto (the "PROPERTY"); and WHEREAS the CITY desires to acquire RIGHT-OF-WAY along Denton Tap Road, a portion of which is adjacent to the PROPERTY; and WHEREAS CENTEX 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 against the PROPERTY: and WHEREAS the dedication of the RIGHT-OF-WAY by CENTEX will be in lieu of the CITY purchase of the RIGHT-OF-WAY at a future date; and WHEREAS the CITY desires to acquire the RIGHT-OF-WAY by dedication from CENTEX in exchange for 100% CREDIT against roadway impact fees to be assessed by the CIITY against the PROPERTY; 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 as follows: 1. CENTEX shall by separate instrument satisfactory to the CITY, dedicate or grant the RIGHT-OF-WAY to the CITY on or before June 31, 1998. 2. Upon dedication of the RIGHT-OF-WAY by CENTEX, the CITY agrees to provide a CREDIT in the amount of 100% not to exceed $4.00 per square foot of the RIGHT-OF-WAY (the "CREDIT") against future roadway impact fees to be assessed against the PROPERTY. 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 parties further acknowledge that if the CREDIT exceeds the amount of roadway impact fees assessed against the PROPERTY or in the event that roadway impact fees are not assessed against the PROPERTY, the CITY shall not be liable for or be obligated to pay any such remaining CREDITS in cash or equivalent to CENTEX or its successors. 3. NOTICE All notices required by this Agreement shall be addressed to the following, or other such party or address as either party designates in writing, by certified mail, postage prepaid or by hand delivery: If intended for CENTEX, to: Address: Centex Development Company 2728 N. Harwood Street Dallas, Texas 75201-1516 Phone: (214) 981-6709 Fax: (214) 981-6888 Attn: Dan Anderson If intended for CITY, to: Address: 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, administrators, 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. 6o GOVERNING LAW 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 the State District Court of Dallas County, Texas~ 7. ENTIRE AGREEMENT This Agreement embodies the complete Agreement of the parties hereto, superseding all prior oral or written previous and all contemporaneous oral Agreements between the parties and relating to the matters in this Agreement, and except as otherwise provided herein cannot be modified or mended without written Agreement of the parties to their Agreement. 8. AGREEMENT RUNS WITH THE LAND The provisions of this Agreement are hereby declared covenants running with the PROPERTY and are fully binding on all successors, heirs, and assigns of CENTEX who acquire any right, title, or interest in or to the PROPERTY, or any part thereof. Any person who acquires any right, title, or interest in or to the PROPERTY, 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 recitals 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 / q day of '~'V/v/!!i ,1998. CITY OF COPPELL, TEXAS WITT, CITY MANAGER CENTEX DEVELOPMENT COMPANY, a division of CENTEX HOMES, a Nevada general partnership By: Name: Title: ATTEST: By: KATHLEEN ROACH, CITY SECRETARY APPROVED AS TO FORM: PETER G. SM RNEY CITY MANAGERS ACKNOWLEDGEMENT STATE OF TEXAS COUNTY OF DALLAS m "'3e' BEFORE ME, the undersigned authority, a Notary Public in and for the State of Texas, on this day personally appeared Jim Witk 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 that same as the act of said City for the purpose and consideration therein expressed and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this the/'/'7'/-/day ~'*14~ ,1998. of Notary Public, State of Texas CORPORATE ACKNOWLEDGEMENT 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 'Y')Ci~GMD~E_~.<~'~, 'V.P- , of Centex Development Company, a division of Centex Homes, a Nevada general partnership; 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 partnership for the purpose and consideration therein expressed and in the capacity therein stated. GIVEN UNDER MY HAND AND SEAL OF OFFICE this the ~Ct4Lday of ','~LLLIE, ' ,1998. ........... :~.%3o~v ...ETcA,F / %' '\ ~ Notary Public i ' ~ '~ .C ~ StBm of Texas My Co~ission Expires: ,<:' ~,4~),'~] ~,~tate of Texas 0_42E/,, C~ EXHIBIT "A" .o .... EXHIBIT "B" LEGAL DESCRIPTION RIGHT-OF-WAY PARCEL No. 5A BEING 599 square feet of land located in the Ciarinda Squires Survey, Abstract ~,~oo 1327, Dallas County, Texas, being a portion of that certain 23.589 acre tract of land described in deed to Vista Partners, recorded in Document No. 93- R0066535 of the Real Property Records of Denton County, Texas and being more particularly described by metes and bounds as follows: BEGINNING at a point in the East right-of-way line of Denton-Tap Road (a variable width right-of-way), being the west line of the said 23.589 acre tract described in the deed mentioned above, also being the Northwest comer of that certain 2.137 acre tract of land described in deed to Denton County Levee ~mprovement District No. 1, recorded in Volume 95174, Page 02343 of the Deed Records of Dallas County, Texas; THENCE N 00°17'49"W along the East right-of-way line of said Denton-Tap Road, 55.69 feet to a 112-inch iron rod set; THENCE S 45'1 5'33~E, 18.42 feet to a 1/2-inch iron rod set; 'THENCE S 00°15'33"E, 36.38 feet to a 1/2-inch iron rod set in the North boundary line of said 2.137 acre tract of land; '~:'HENCE S 63°53'15"W along the North boundary line of said 2.137 acre tract, 14,43 feet to the PLACE OF BEGINNING, containing 599 square feet of land. LEGAL DESCRIPTION RIGHT-OF-WAY PARCEL No. 5B BEING 1,697 square feet of land located in the Clarinda Squires Survey, Abstract No. 1327, Dallas County, Texas, being a portion of that certain 23.589 acre tract of land described in deed to Vista Partners, recorded in Document No. 93-R0066535 of the Real Property Records of Denton County, Texas and being more particularly described by metes and bounds as follows: BEGINNING at a point at the intersection of the East right-of-way line of Denton- Tap Road (a variable width right-of-way) and the South right-of"way line of NatchesTrace Drive (a variable width right-of-way); THENCE N 89°42'11 "E along the South right-of-way line of said Natches Trace Drive, 21.13 feet to a ll2-inch iron rod set; THENCE along proposed East right-of-way line of Denton-Tap Road as follows: S 00°15'33"E, 83.97 feet to a 1/2-inch iron rod set at the beginning of a curve to the right; SOUTHEASTERLY, 6.34 feet along said curve to the right, having a radius of 1,472.00 feet, a central angle of 00°14'49'', and a chord bearing of S 00°08'09"E, 6.34 feet to a 1/2-inch iron rod set at the beginning of another curve to the right; SOUTHWESTERLY, 65.09 feet along said curve to the right having a radius of 250.00 feet, a central angle of 14°55'03", and a chord bearing of S 07°26'47"W, 64.91 feet a 1/2-inch iron rod set at the beginning of a curve to the left; SOUTHWESTERLY, 46.25 feet along said curve to the left having a radius of 250.00 feet, a central angle of 10°36'02", and a chord bearing of S 09°36'17"W, 46.19 feet to a 1/2-inch iron rod found at the beginning of a curve to the right; SOUTHWESTERLY 17.80 feet along said curve to the right having a radius of 1,460.00 feet, a central angle of 00°41 '55", and a chord bearing of S 04°39'14"W, 17.80 feet to a 1/2-inch iron rod set; S 05°00'11"W, 8.28 feet to a 1/2-inch iron rod set in the said East right- of-way line of Denton-Tap Road; along the existing East right-of-way line of said Denton-Tap Road as follows: Exhibit "~ N 06'0116"W, 20.69 feet to a 5/8-inch iron rod found; N 00°17'49"W, 205.52 feet to the PLACE OF BEGINNING, containing 3,479 square feet of land. Ex~ibit"~' LEGAL DESCRIPTION RIGHT-OF-WAY PARCEL No. 5C BEING 9,006 square feet of land located in the Clarinda Squires Survey. Abstract No. 1327 and the G.C. Woolsey Survey, Abstract No. 1402, Dallas County, Texas, being a portion of that certain 23.589 acre tract of land described in deed to Vista Partners, recorded in Document No. 93-R0066535 of the Real Property Records of Denton County, Texas and being more particularly described by metes and bounds as follows: BEGINNING at a point in the East right-of-way line of Denton-Tap Road (a variable width right-of-way) with it's intersection with the North right-of-way line of Natches Trace Drive (a variable width right-of-way); THENCE N 00°17'49"W along the East right-of-way line of said Denton-Tap Road, 956.90 feet to a point at the beginning of a non-tangent curve to the left; THENCE SOUTHEASTERLY, 9.72 feet along a non-tangent curve to the left having a radius of 3831.72 feet, a central angle of 00°08'43', a chord bearing of S 74°17'02"E, 9.72 feet to a point; THENCE S 00°17'49"E, 152.87 feet to a 5/8-inch iron rod found in the South right-of-way line of State Highway No. 121 Bypass; THENCE N 27°03'36"E, along the South right-of-way line of State Highway No. 121 Bypass, 0.79 feet to a ll2-inch iron rod set; THENCE S 00°15'33"E, 802.05 feet to a 1/2-inch iron rod set in the said North right-of-way line of Natches Trace Drive; THENCE S 89°42'11 "W, along the North right-of-way line of said Natches Trace Drive 9.18 feet to the PLACE OF BEGINNING, containing 9,006 square feet of land. ~xhtt~~r '~8"