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HomeMy WebLinkAboutOrdinances (O-02-1374)-12/03/2002 ORDINANCE 0-02-1374 AN ORDINANCE APPROVING THE DEVELOPER PARTICIPATION IN CONTRACT FOR PUBLIC IMPROVEMENTS BETWEEN VILLAGE MONTICELLO PARTNERS, LTD., VILLAGE MANAGEMENT, LTD., VILLAGE OWNER'S ASSOCIATION, REALTY CAPITAL CORPORATION AND THE CITY OF COLLEYVILLE. WHEREAS, Village Monticello Partners, Ltd., Village Management, Ltd., Village Owner's Association, and Realty Capital Corporation (Developer) shall construct public improvements and the City of Colleyville, Texas, shall participate in the cost as determined by municipal ordinance under Subchapter C. Developers Participation in Contract for Public Improvements, Local Government Code, State of Texas; and WHEREAS, the City of Colleyville and Developer have entered into a City/Developer Agreement for the Village at Colleyville, which specifies certain construction costs that the City has agreed to participate in with the Developer. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF COLLEYVILLE, TEXAS: Sec. 1. THAT the City/Developer Agreement, as attached, with Village Monticello Partners, Ltd., Village Management, Ltd., Village Owner's Association, and Realty Capital Corporation (Developer) is hereby approved. AND IT IS SO ORDERED. The first readi~g and public hearing being conducted on the /9.>:1 day of 1-1J"'di/7Y)~ 2002. The second reading and public hearing being conducted on the S ~ay of ~~_.1 2002. Cynthia Singleton, TRMC City Secretary CITY OF COLLEYVILLE: ~~ Mayor City of Colleyville City/Developer Agreement for the Village at Colleyville The Village Monticello Partners, Ltd., Village Management Ltd., Village Owner's Association (VOA), and Realty Capital Corporation, collectively called "Developer" and the City of Colleyville, Tarrant County, Texas, hereinafter called "City", enter into the following agreement. In consideration of mutual covenants herein contained and for the Village at Colleyville ("the Village"), which is shown on the attached Exhibit "A" and which shall be an addition to the City of Colleyville, Texas as filed of record in the Plat Records of Tarrant County, Texas, the parties hereto agree: 1. Developer and City agree to exchange the City's undeveloped strip of land (59' by 944') on Pleasant Run Road for all of Lot 42 in the Village owned by the Developer. Lot 42 contains five building sites and a total of 15 units. Appraisals showed the City land to be worth $160,000 and the five sites on Lot 42 to be worth $419,000. 2. Developer agrees to construct the main parking lot on Lot 4R, Block 1, including parking lot lighting and landscaping. Construction costs of the parking lot, including lighting and landscaping, are estimated by Baird, Hampton and Brown to cost approximately $475,000. 3. City agrees to contribute $210,000 towards the construction costs of the parking lot on Lot 4R, Block 1. This contribution shall be delivered to the Village during the construction of this parking lot, upon delivery of invoices to the City. 4. The Village Owner's Association ("VOA") will clean the parking lot on Lot 4R, Block 1 and maintain the landscaping in and around the parking lot. The City will pay the cost of electricity for the parking lot light poles and the water costs for landscaping. 5. City agrees to pay Developer for the oversizing cost between an 8-inch water line and a 12-inch water line installed between Pleasant Run Road and City Park as shown on the City-approved construction plans titled 'Water Plan" prepared by Baird, Hampton, and Brown. (Estimated cost to City = $15,250) Actual cost of construction is $18,052.50. 6. City agrees to pay Developer the cost for utility improvements performed along the Chase Bank property for relocation of an 8-inch water line and an 8-inch sanitary sewer line out of the proposed future City/Developer Agreement for the Village at Colleyville Page 1 Highway 26 right-of-way, as shown on the City approved construction plans titled, 'Water Plan" prepared by Baird, Hampton and Brown. (Estimated cost to City = $30,500) Actual cost of construction is $35,667.00. 7. City agrees to pay Developer the cost for the 12-inch water line installed from Highway 26 along Pleasant Run Road to the realigned portion of Pleasant Run Road in an amount not to exceed $16,225.00. 8. City agrees to coordinate and implement the design and construction of realigning Thompson Terrace with Main Street at Highway 26 at the time of the Highway 26 widening by TXDOT. This includes installing a ten-inch water pipe under Thompson Terrace outside of the proposed future Highway 26 right-of-way. 9. City and Developer agree to equally share the costs of re-constructing that portion of Thompson Terrace, which has to be realigned with Main Street, which is not paid for by TXDOT. If the Thompson Terrace / Highway 26 intersection is not re-built by January 1, 2005, then the Developer may pay for the design and construction of any or all of these improvements, provided however, that the City will still share in the cost of the Thompson Terrace re-alignment described above. 10. Subject to TxDOT approval, the City agrees to acquire right-of-way necessary to allow for the construction of the road and utility improvements outlined in paragraph 8 above. It is agreed that this condemnation will be done in conjunction with the Highway 26 widening. If the City has not acquired the necessary right-of-way by January 1, 2005, then the Developer may attempt to acquire on the City's behalf, provided however, that the City will assist the Developer (at the Developer's expense) with the condemnation process, if reasonably necessary. 11. City agrees to recommend approval to the Texas Department of Transportation (TXDOT) of the Highway 26 median improvements as shown on the attached Exhibit "B" titled "Proposed Median Treatment Colleyville Boulevard (SH26) Glade Road to Thompson Terrace" prepared by Parsons Transportation Group. 12. Subject to TxDOT approval, the City agrees to pay the design and installation costs for a temporary traffic signal at the Main StreeVHighway 26rrhompson Terrace intersection. It is understood and agreed that the City will design the permanent traffic signals and will be constructed by TXDOT in conjunction with the Highway 26 widening. If the permanent signal is not installed as part of the planned Highway 26 improvement project, the Developer may elect to City/Developer Agreement for the Village at Colleyville Page 2 pay for the design of the permanent traffic signal and the City shall construct it. 13. Developer agrees that the Village Owners' Association (the "VOA") will pay the total cost of continued maintenance and repairs of any landscaping and irrigation systems installed in all public areas (streets, parks, etc.) in the Village, except for the City Hall and Library property. City shall pay for the landscape watering costs in public areas. Developer shall install the landscaping and irrigation improvements as approved by the City in all public parks in the Village. The Village Owner's Association agrees to keep plant material healthy and growing. 14. Developer agrees to pay the total cost of installation of a four (4) foot wide pedestrian gate at the west end of Central Drive with key access. The Village Owner's Association shall maintain and repair the gate after installation. A Knox Box system shall be provided for Fire Department and emergency personnel access. 15. Developer agrees to make a contribution of $15,000 to the City Hall- Library Construction Fund in lieu of construction of an eight-foot tall wrought iron fence along the City Park and Village at Colleyville property line. Said contribution shall be made to the City no later than August 31,2003. 16. City agrees to enforce the parking regulations within the Village as referenced in Section 10 of the Zoning Ordinance 0-99-1141, provided however, that the Developer shall pay the cost of the administration and the City's enforcement of such parking regulations until building permits have been issued for eighty building sites in the Village. Thereafter, the City shall pay the enforcement of parking regulations. By September 1, 2003, City and the Developer shall attempt to further define and agree upon specific parking regulations for the Village. 17. Developer shall design and construct all public parking lots and parks. The VOA shall pay for the surface cleaning of public parking lots and provide for clearing of litter and other debris. The City shall be responsible for the surface cleaning of public streets and public alleys. The City shall repair and maintain the concrete structure of such public parking lots. 18. Developer shall install all streetlights and street signs as approved by the City in the Village. The VOA shall maintain and operate all streetlights and street signs in the Village. The City shall pay the costs of electricity for the streetlights. City/Developer Agreement for the Village at Colleyville Page 3 19. Within twelve months after completion of infrastructure in the first phase of the Village, as defined by the engineering construction plans, City agrees to begin to install: (a) a six-foot wide sidewalk on Pleasant Run Road from Bogart Road connecting to the sidewalk constructed by the Village on Pleasant Run Road. (This will allow citizens to ride their bikes from Hall-Johnson Road and Glade Road all the way to City Park and the Village) At the time that Thompson Terrace is widened, pursuant to the terms and condition of this Agreement, the City agrees to begin to install (b) at least six-foot wide sidewalks on Thompson Terrace and Glade Road from Highway 26 to the east to connect to the recently installed sidewalk on Glade Road. 20. Developer agrees to construct all public drainage easement improvements in the Village on the following lots: Lot 52 and Lot 77, as noted on the Village at Colleyville subdivision plat recorded in Cabinet A, Slide 6292, Plat Records, Tarrant County, Texas. The VOA shall maintain and repair said public drainage easement improvements. City agrees to remove debris along the public drainage easement on said Lot 52 and Lot 77 if the City determines that a potential flood hazard exists. 21. Developer agrees to pay all overtime construction inspection fees incurred by the City during the infrastructure construction in the Village. 22. Developer agrees that the City is not responsible for maintenance of sewer lines from the sewer mains to the buildings. Maintenance of this section of the sewer lines will be the responsibility of the building unit owners. 23. Developer agrees to reimburse the City for the drainage improvements constructed along Pleasant Run Road as part of the Village at Colleyville, Phase II, construction so as to complete the Pleasant Run Road concrete section to the Main Street Intersection Improvements. The Developer will reimburse the City in an amount not to exceed $23,279.25 at the time of construction for the Village at Colleyville, Phase II, or three (3) years from July 17, 2001. 24. According to Resolution R-02-1981, approved on July 18, 2002, Realty Capital Corporation will reimburse approximately $105,000 for utility improvements within thirty (30) days from the date the City notified Realty Capital Corporation, of the City's payment of the utility improvements. Any amount not paid by that date shall bear interest at the rate of 9 % percent simple interest compounded annually until paid. I n any event, the amount to be paid by Realty Capital Corporation shall be paid on or before the issuance of any building permits for Phase II or December 31,2004. City/Developer Agreement for the Village at Colleyville Page 4 25. To the extent anything contained in the City/Developer Agreement requires prior approval of TxDOT, neither the City nor the Developer shall be liable for any provision contained herein until appropriate approval of that specific TxDOT provision has been obtained. VILLAGE MONTICELLO PARTNERS, L TO. a Texas limited partnership By: Realty Capital Corporation a Texas corporation, its General Partner 0/ Na~/. RiChard A. Myers / esident f ') ~~~. ~i~ .I .u ___/,1,,,// (...~ ~c-- Date VILLAGE MANAGEMENT L TO. a Texas limited partnership By: Village Management Genpar, L.L.C. a Texas limited liability company its sole general partner By: Realty Capital Corporation a Texas corporation, member (~r~ Naryte: Richard A. Mye j ,/ : ')///./;/; , ~, / L'" L' /- Date REALTY CAPITAL CORPORATION a Texas corporation '~1l/ / I , ! I I I / r iil; ) ~ Naife: Richard A. M~~ President I / " ) ,/ / ~-!) L:"- Date City/Developer Agreement for the Village at Colleyville Page 5 THE VILLAGE OWNER'S ASSOCIATION, INC. a Texas Nonprofit Corporation /" /) //?' /~ ~ ;~/ C-"c/c- Name: Richard A. Myerst Date ,/ /:)./ !6/tJ:2 Date ~~ 1- Name: Tom Mil er, Director / 2.../1 biD 1- Date CITY OF COLLEYVILLE /e!l-// - II ;J- Date Nam : Donna Arp, MJ\YObvED CITY COUNCIL APPK DEe 3 2002 City/Developer Agreement for the Village at Colleyville Page 6