Community CU-CS030611
MEMORANDUM
FROM THE
DEPARTMENT OF ENGINEERING
To: Jennifer Armstrong, Finance Director
Via: Ken Griffin, P.E., Dir. of Engineering/Public Works
From: Teresa Turner, Graduate Engineer
Date: June 11, 2003
1tE: Community Credit Union Addition
After further review of the engineering department's fee assessment files, it has come to my
attention that the Community Credit Union Addition was not correctly credited roadway impact fees
in the amount of $1112.40.
In January of 2001, the City of Coppell entered into an Development Agreement (attached) with
Second Century Investments Denton Tap, Ltd. to provide $23,436.00 in roadway impact fee credits
in exchange for the dedication ofright-of--way along Denton Tap Road. At the time of the
agreement, the site that the Community Credit Union now owns was part of the original 10 acre
tract.
On 6/19/2001, the Magnolia Village Addition was credited $22,323.60 in roadway impact fees,
leaving a balance of $1112.40 to be applied to the remaining property when developed. The next
development to occur was the Community Credit Union and they should have been the recipients of
the remaining roadway impact credits.
The credit union paid the full assessed roadway impact fees of $3798.00 on 7/23/02 (receipt
attached). This amount should have been $2685.60. Therefore, a reimbursement of $1112.40 to the
Community Credit Union is due. This will deplete the full amount of credits that were originally
dedicated to this tract of land.
If you have any questions of need any further information, please feel free to contact me at ext.
3681.
"CITY OF COPPELL ENGINEERING -EXCELLENCE BY DESIGN"
J
MEMORANDUM
FROM THE
DEPARTMENT OF ENGINEERING
To: Jennifer Armstrong, Director of Finance
From: Teresa Turner, Graduate Engineer
Date: February 4, 2003
RE: Community Credit Union Addition
After further review of the engineering department's fee assessment files, it has come to my
attention that the Community Credit Union Addition was not correctly credited roadway impact fees
in the amount of $1112.40.
In January of 2001, the City of Coppell entered into an Development Agreement (attached) with
Second Century Investments Denton Tap, Ltd. to provide $23,436.00 in roadway impact fee credits
in exchange for the dedication ofright-of--way along Denton Tap Road. At the time of the
agreement, the site that the Community Credit Union now owns was part of the original 10 acre
tract.
On 6/19/2001, the Magnolia Village Addition was credited $22,323.60 in roadway impact fees,
leaving a balance of $1112.40 to be applied to the remaining property when developed. The next
development to occur was the Community Credit Union and they should have been the recipients of
the remaining roadway impact credits.
The credit union paid the full assessed roadway impact fees of $3798.00 on 7/23/02 (receipt
attached). This amount should have been $2685.60. Therefore, a reimbursement of $1112.40 to the
Community Credit Union is due. This will deplete the full amount of credits that were originally
dedicated to this tract of land.
If you have any questions of need any further information, please feel free to contact me at ext.
3681.
"CITY OF COPPELL ENGINEERING -EXCELLENCE BY DESIGN"
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AMT OF
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AMi PAID CHECK 't
BlLLPNCE MONEY ORCfp By
DUE CPESNT CPAO
COMMUNITY CREDIT UNION®
P.O. Boz 830742 Richardson, TX 75083-0742
(972)-578-5000
DATE CHECK NO.
TPO HE £?~A~TLY~3~ ~ r ~ ~ Q0~ 5 u L' ~~S
ORDER
OF _.' ~ GF Ct~DE__
VOID 90 DAYS FROM DATE OF ISSUE
AMOUNT
No. 455420
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AUTHORI $KiNATURE
11'4554 2011' 1:3 L i987773~: 89D000000111'44
SECOND CENTURY INVESTMENTS
January 24, 2001
Kenneth M. Griffin, P.E.
Director of Engineering and Public Works
City of Coppell
P.O. Box 478
Coppell, Texas 75019
Dear Mr. Griffin,
~ ~~i,L.G
'~'~
I have enclosed the Development Agreement for S00 N. Denton Tap Rd. along with
Exhibit `A' as requested in your Letter dated November 16, 2000.
Please let me know if you have questions or need additional information.
Sincerely,
~~
Cindy yant
Enclosure
7502 Greenville Ave., Suite 680 • Dallas, Texas 75231 • (214) 221-4440 • Fax (214) 221-4441
~i
STATE OF TEXAS §
§ 1 32523'3
COUNTY OF DALLAS § oaie7iol E570ti16 f31.04
Deed
DEVELOPMENT AGREEMENT
This AGREEMENT is made by and between the City of Coppell, Texas, a Home Rule City
(the "CITY"), and Second Century Investments Denton Tap, Ltd, a Texas Limited Partnership:
RECITALS
WHEREAS, Second Century Investments Denton Tap, Ltd. is the owner of a 10-acre
commercial tract of land located along the west side of Denton Tap Road south of the new State
Highway I21 bypass, more particularly described in Exhibit "A" attached hereto as (the "Second
Century Investments Denton Tap, Ltd. Property"); and
WHEREAS, the CITY desires to acquire right-of--way along Denton Tap Road adjacent to
the Second Century Investments Denton Tap, Ltd. Property; and
WHEREAS, Second Century Investments Denton Tap, Ltd. 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 ] 00% credit against future roadway impact
fees to be assessed the Second Century Investments Denton Tap, Ltd. Property; and
WHEREAS, the dedication of the RIGHT-OF-WAY by Second Century Investments
Denton Tap, Ltd. 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 from
Second Century Investments Denton Tap, Ltd. in exchange for I00% credit against roadway
^ D)r"~VELOPM~ENT AGREEMENT -Pagel ~t;i)t0 J J ;-~ ~ ~ ~ 1 SS20286
I ~ 1'• a . d /_ , ice.
impact fees to be assessed by the CITY against the Second Century Investments Denton Tap,
Ltd. Property; 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. Second Century Investments Denton Tap, Ltd. shall by separate instrument in the
form attached hereto as Exhibit C, dedicate or grant the RIGHT-OF-WAY to the CITY on or
before April 28, 2000.
2. Upon dedication of the RIGHT-OF-WAY by Second Century Investments
Denton Tap, Ltd., the CITY agrees to provide a credit in the amount of 100% not to exceed four
dollars ($4.00) per squaze foot of the RIGHT-OF-WAY for a total credit of Twenty-Three
Thousand Four Hundred Thirty-Six Dollazs ($23,436) (the "CREDIT") against future roadway
impact fees to be assessed against the Second Century Investments Denton Tap, Ltd. Property.
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
assessed against the Second Century Investments Denton Tap, Ltd. Property or if roadway
impact fees are not assessed against the Second Century Investments Denton Tap, Ltd. Property
that the CITY shall not be liable for or be obligated to pay any such remaining credits in cash or
cash equivalent to Second Century Investments Denton Tap, Ltd. or its successors.
DEVELOPi~NT AGREEMENT -Page 2
SS20286
~''~~ nr .li.~ T
~ ~~
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 Second Century Investments Denton Tap, Ltd., to:
Second Century Investments Denton Tap, Ltd.
Attn: Ted R. Pittman
11551 Forest Central Dr., Suite 304
Dallas, Texas 75243
If intended for CITY, to:
City of Coppell, Texas
City Manager
P.O. Box 478
Coppell, Texas 75019
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.
GOVERMNG 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 [aws of the State of Texas; and venue
DEVELOPMENT AGREEMENT -Page 3
SS20286
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 pare of this
AGREEMENT.
AGREEMENT RUNS WITH THE LAND
8. The provisions of this AGREEMENT are hereby declared covenants running with
the Second Century Investments Denton Tap, Ltd., Property and are fully binding on all
successors, heirs, and assigns of Second Century Investments Denton Tap, Ltd. who acquire any
right, title, or interest in or to the Second Century Investments Denton Tap, Ltd. Property or any
part thereof. Any person who acquires any right, title, or interest in or to the Second Century
Investments Denton Tap, Lid. 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.
INCORPORATION OF RECITALS
9. The determination recited and declazed in the preambles to this AGREEMENT are
hereby incarporated herein as part of this AGREEMENT.
EXHIBIT
10. All exhibits to this AGREEMENT aze incorporated herein by reference for all
purposes wherever reference is make to the same.
DEVELOPMENT AGREEMENT -Page 4
SS20286
1~~,Q o G :: i;': s 4
S 7`
EXECUTED in duplicate originals this the,~_ day of 5~.~ ac , 200 .
CIT
By:
Second Century Investments Denton Tap, Ltd.
~~ `
By: i
Narr~ Ted Ft. Pittfrian
Title: Partner
SS20286
DEVELOPMENT AGREEMENT-Pages ~Vjl~ S O ~ C1 ~, ~ 5
CITY OF COPPELL
PERMANENT RIGHT OF WAY
EXHIBIT C
STATE OF TEXAS §
§ KNOW ALL MEN BY THESE PRESENTS
COUNTY OF DALLAS §
THAT, Second Century Investments Denton Taa. Ltd. of the County of Dallas, State of
Texas, for and in consideration of TEN DOLLARS, and other good and valuable considerations
paid by the City of Coppell, a municipal corporation of Dallas County, Texas, receipt of which is
hereby acknowledged, does hereby grant, bargain and convey to said City, its successors and
assigns, a permanent right-of--way and the right to construct, reconstruct and perpetually maintain a
public street and/or drainage facilities and utilities, together with all necessary appurtenances
thereto, and with the right and privilege at any and all times, to enter said premises, or any part
thereof, as is necessary to the proper use of any other right granted herein, and for the purpose of
constructing, reconstructing and maintaining said public street and/or drainage facilities and
utilities, and for making connections therewith, in, upon and across that certain tract or parcel of
land in Dallas County, Texas, being described as follows:
Exhibits "A" and "B" attached hereto and made a part hereof.
TO HAVE AND TO HOLD the same unto the City of Coppell, its successors and assigns.
~-
WITNESS MY HAND, this the _~_ day of (.tl2.,v , 200 1
Second Centu Inve is Denton Tap, Ltd.
ed R ittm. n, Partner
ib~iUJU '.: U~i.j~7
CITY MANAGER'S ACKNOWLEDGMENT
STATE OF TEXAS §
COUNTY OF DALLAS §
st
This instrument was acknowledged before me on the 'day of ,S ~ ua-rua-r ~, 200
by Jim Witt, City Manager of the City of Coppell, Texas, a municipal corporation, on behalf of said
corporation.
~~U~
Notary Public, S , to of Texas
My commission//Expires:
~~1~11~~~`~
~~ ~i,-: 7AUU J. CROCKEA
i~t; MY C~NIISSKNJ EXPIRES
'yivr,;s•'' oc~ n, aoa
DEVELOPMENT AGREEMENT -Page 6 SS20286
STATE OF TEXAS §
COUNTY OF ~~ IQS §
~k--
THIS instrument was acknowledged before me on the ~ _ day of ,_~"~_!
2000q by Ted R. Pittman, Partner. Second Century Investments Denton Taa, Ltd., on behalf
of said corporation.
~..~ ,... C ••YNT1i~A C.,8R1(AIfT ~
~~rrwcwieatew
6 ~ ~~
wrar~t +~. ~.
PUBLIC,
~n Expires:
/ /
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LCJI
~_~,~ o G _ G--: 3 ~
EXHIBIT "A"
LEGAL DESCRIPTION OF PROPERTY
HBING a tract of land situated is the ^*•n*a++/1 SQIIIRES SIIRV3y, )18STR7-CT MO.
1327 in the City of Coppell, D7-IS.a.S county, Tezas, and being more
particularly described as follows:
BBGIl~tING at a 1/2 inch iron rod net at the intersection of the Wert line
of Denton Tap Road (variable right-of-vayj with the Soath line of State
Highway No. 121 (variable right-of~+ay);
THffiiC8 South, a distance of 160.00 feet along the said Weat line of Denton
Tap Road to a 1/2 inch iron rod ^et foz cozaer;
T88NC8 South 08 degrees 16 minutes 51 seconds Bast, a distance of 68.88
feet continuing along said West line of Denton Tap Road to as ^Z" cut is
concrete for corner;
THffi7C8 South, a distance of 523.98 feet along the said West line of Denton
Tap Road to an "Z" cut is concrete for the moat Northeasterly Northeast
corner of Magnolia Park, an addition to the City of Coppell according to
the plat thereof recorded i.n Volume 98145, Page 0506 of the Deed Records of
D1TTfS County, Terns;
THBNCS West, along said Magnolia Park boundary line, a distance of 198.75
feet to a 1/2 inch iron rod set for corner;
T88NC0! North 49 degrees 10 minutes 04 seconds Weet, continuing along •aid
Magnolia Park boundary line, a distance of 80.94 feet to a I/2 inch iron
rod set for corner;
THBNCS North, continuing along said Magnolia Park boundary lice, a distance
of 552.00 feet to a 1/2 inch iron rod set for corner;
THENCB Horth 64 degrees 57 minutes 59 seconds West, continuing along said
Magnolia Pazk boundary lice, a distance of 932.91 feet to 1/2 inch iron rod
set for the beginning of a tangent curve to the right;
TH81QC8 Northwesterly, continuing along said Magnolia Park boundary sad
along the curve to the right which has a chord that bears North 30 degrees
52 minutes 38 seconds Weet for 44.84 feet, a central eagle of 68 degrees 10
minutes 40 seconds and a radius of d0.00 feet, for as arc distance of 47.60
feet to a 1/2 inch iron rod set for the cad of ^aid stove and the beginning
of another curve to the right;
THSNCB Northeasterly, continuing along ^aid Magnolia Park boundary sad
along the curve to the right which has a chord that bears North 14 degrees
07 minutes 22 seconds Bast for 200.64 feet, a central eagle of 21 degrees
49 minutes 20 seconds and a radius of 530.00 feet, for as arc distance of
201.86 feet to a 1/2 inch iron rod set foz the end of acid curve;
T8814C8 North 25 degrees 02 minutes O1 •eeoad Bast, eoatinui.ag along said
Magnolia Park boundary, a distance of 27.85 feet to a 1/2 inch iron rod ^et
in the South lice of State Highway No. 121;
THBNCB South 64 degrees 57 minutes 59 ^ecoads Bast, along the South line of
State Highway No. 121, a distance of 1137.67 feet to a 1/2 inch iron rod
set for corner;
TH'EliCB South 47 degrees 40 minutes C
South line of State Highway No. 121,
O! HBGINNINC and cD7tT11IAZRG 443, 175
more or less.
7 ^econde Baet, continuing along the
a distance of 36.29 feet to the POINT
square feet, or 10.1739 acres of land,
DEVELOPI~NT AGREEAgNT -Page 8
S 520286
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unenforceable under tetleni Itw.
STATE OF TEXAS COUNTY OF DAIIAS
1 nareEr cMNT this inst*umrnt wos Cited on ine tlata and Un+e
stamped hereon by me and was du!v rec:rded in Iha voWme and
Pett or th. named ncortls of 6tlias Counq, taus as stsmpW
hereon by ms.
MCP, 27 2001
OJrtrt 0~
%.~ ~,<^~ COUNTY CLERrL Dallas Gounry, Texas
r~or`
r
~~~ AGENDA REQUEST FORM
n.. cnr ww, ~ e.wtnr rwn
CITY COUNCIL MEETING Jan . 14 , 1992 ITEM NU~~ ~i -
ITEM CAPTION:
Consideration of approving an escrow agreement with Everfine/
=,Gateway Partnership for Sandy Lake Road Improvement, for Pecan
'';`Ridge Estates, in the amount of $120,372.26 and authorizing the
.mayor to sign.
SUBMITTED BY-
(Direcior's ign tore)
FaE caav
STAFF REP.• M• Shohre Daneshmand. P.E.
OTHER REP.•
DATE: January 3 , 1992
Pecan Ridge Estates is located at the northwest corner of Sandy Lake
Road and Lodge Road. This agreement has been prepared by Everfine
Gateway partnership in conjunction with their escrowed deposit of
$120,372.26, for future widening of Sandy Lake_Rbad.
SCUP-a~~' kl ~n.~,~ ~{ ~c~l
Class l h? tL~ ~
L~Sht
1~32+d.t3~i - Sao = ~~zg,~q
C oS+ (ate Poo{'
BUDGET AMT.
AMT +/- BUDGET
sa°,~4g5, /'
So2~° C ~. _
S-~ g3a~ ..3 i4pPROV~D ~
~~~~
BY
S1 '33GSS.}3
a~z~~t3q
Z
AMT. ESTIMATED -~
FINANCIAL REVIEW BY < ,~~,~G /~'~•
These funds are deposited in seperate accounts and all interest earned is
credited back to the account so that at any time we can determine how much
money we have for this particular project.
LEGAL REVIEW BY: ,
eewa~ aeQUesr rani tuvsrn vvi
CITY C 1~ jCIL~
DATE
REVIEWED BY CM:
CITY OF COPPELL
ESCROW AGREEMENT
For and in consideration of the mutual covenant and agreements herein
contained, the City of Coppell hereinafter called "City" and Everfine/Gateway
Partnership hereinafter called "Developer", do hereby agree as follows, to
wit:
WHEREAS, the current City policies (Subdivision Ordinance Appendix A,
Section 17) require that in new areas, a Developer install major public
improvements where required in or adjacent to said addition. Developer has
elected to develop Pecan Ridge Estates an Addition in the City of Coppell,
Dallas County, Texas (See Exhibit 1, attached). In lieu of the developers
obligation to construct their portion of Sandy Lake Road improvements and
706.41 linear feet of frontage still unimproved, the Developer agrees to
place in escrow $120,372.26 for the construction of aforesaid major public
improvements. this dollar amount being based on the current pro rata charges
as provided for in Appendix B of the Sub-Division Ordinance, and is based on
a future estimated cost of $170.40 per front foot for Sandy Lake Road. This
roadway is classified as a major thorough-fare roadway. The actual amount
due to the City will be based on the actual cost when constructed, and the
escrow account adjusted accordingly at that time. This escrow will be
required in lieu of the construction of a half-street. THEREFORE, the
Developer does hereby deposit $120,372.26, which will be held in the sole
name of the City in an interest bearing account to draw interest at the
current rate.
No withdrawals shall be made until such time as the above mentioned
improvements are made. After completion and acceptance of the above
mentioned improvements by the City, the difference between the escrowed funds
(original amount escrowed plus accrued interest) and the actual costs shall
be returned to the Developer. If the improvements are complete within ten
F~
,:.~ygars from the date hereof and the actual cost of above mentioned
is exceed the escrowed funds (original amount escrowed plus accrued
interest) the Developer will be assessed the difference, payable within ten
(lo) days of notice.
If inquiry is made by the Developer, City shall inform Developer as to
the status of the funds and the improvements and their estimated actual
costs.
The CITY may issue Building Permits on the aforesaid property without
the requirement of the aforementioned improvements, and upon deposit of
Escrow Funds described herein.
Signed and executed this the ~O~ day of 1992.
DEVELOPER:
EVERFINE/GATEWAY PARTNERSHIP
By: GATEWAY USA DEVELOPMENT, INC.,
g r
By:
R.L. Fraze, Mana ng Partner
CITY:
CITY OF COPPELL
By: l
Mayor
ATTEST:
City Secr ar`y'--
APPROVED AS TO FORM:
Ci y Attorne
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