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HomeMy WebLinkAboutOrdinance No. 01-1282 ORIGINAL CITY OF THE COLONY, TEXAS ORDINANCE NO. ~/- / ;Z ~? 37_ AN ORDINANCE OF THE CITY OF THE COLONY, TEXAS, AUTHORIZING THE CITY MANAGER TO ENTER INTO AN AGREEMENT WITH LEGEND PARTNERS, LTD., PROVIDING FOR THE REIMBURSEMENT OF IMPACT FEES UNDER SUBSECTION 8-59 OF THE CITY CODE OF ORDINANCES FOR CERTAIN WATER AND WASTE WATER LINES SHOWN ON THE CITY'S CAPITAL IMPROVEMENT PLAN; ATTACHING THE APPROVED FORM OF AGREEMENT AS EXHIBIT "A"; AND PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS: SECTION 1. That the City Manager of the City of The Colony, Texas is hereby authorized to execute on behalf of the City an agreement with Legend Panners, ktd., providing for the reimbursement of impact fees under Subsection 8-59 of the City Code of Ordinances for certain water and waste wter lines shown on the City's Capital Improvement Plan. The approved form of agreement is attached hereto as Exhibit "A:, and made a part hereof for such purposes. SECTION 2. This ordinance shall take effect immediately from and after its passage by the City Council of the City of The Colony, Texas. DULY PASSED AND A, P~OVED by the City Council of the City of TheColony. Texasthis ~ day otX-~.q,(.W,.4c~ .2601. ,~~.ROVED: /~ Willi~ W. 'Manning, Ma~v~or k;1. (;it5' At~e.~' STATE OF TEXAS § LEGENDS PARTNERS, LTD. § IMPACT FEES COUNTY OF DENTON § REIMBURSEMENT AGREEMENT This Development Agreement (the "Agreement") is made by and between the City of The Colony, a Texas Home Rule Municipality (the "City"), and Legends Partners, Ltd., a Texas Limited Partnership (the "Developer'") (the City' and the Developer are hereinafter referred to together as the "Parties"). RECITALS 1. WHEREAS, The City' is authorized pursuant to the laws of Texas and its Home Rule Charter to enter into agreements with persons or entities intending to undertake any development on real property'/hr the purpose of providing supporting public facilities and services; and 2. WHEREAS, The Developer constructed a large residential development(s) on property located xx'ithin the corporate limits of the City: and _~ m WHEREAS. It is essential to ti~e City's public health, safety and general welfare to assure that the development is supported by adequate levels of public facilities and services: and 4. WHEREAS, To assure such support, it is the intent of the Parties that the Developer construct or cause the construction of certain water and wastewater lines which are identified in the City's capital improvements plan. certain costs of such construction to be reimbursed/Yom impact fees paid from other new developments that will use the improvements and thcilities, pursuant to Section 395.019 of Chapter 395 of the Texas Local Government Code: and 5. WHEREAS. Pursuant to its status as a t tome Rule Municipality. the City has adopted a capital improvements plan and impact fee ordinance: and 6. WHEREAS. The Developer has constructed water and wastewater lines on a certain tract of real property, which is shovm referenced on Exhibit "A," which is attached hereto and incorporated herein for all intents and purposes: and 7. WHEREAS, It is the intent of the Parties that this Agreement shall define the City's obligations with respect to reimbursing the Developer impact fees for a portion of the actual cost of water and wastewater lines in accordance with Section 8-59 of the City Code of Ordinances. NOW. THEREFORE. for and in consideration of the above and foregoing premises, and other good and valuable consideration, the City of The Colony, Texas and I,egends Partners. l,td. do hereby contract and agree as lblloxxs: Section 1. Incorporation of Premises. The above and foregoing premises are true and correct and are incorporated herein and made a part hereof tbr all intents and purposes. Section 2. Payments. (a) The City agrees to reimburse the Developer tbr certain water and wastewater lines, the actual cost of which are described in Exhibit "B," which is attached hereto and is incorporated herein for all intents and purposes. The amount of the reimbursement to the Developer shall be in accordance with Subsection 8-59(b) of the City of The Colony Code of Ordinances. The total amount to be reimbursed to the Developer shall be calculated by multiplying the actual construction cost of the facility as shown in the capital improvements plan by a fraction, the numerator of which is the impact fee per service unit due for the new development (computed using the capital improvements plan and section 8-64) and the denominator of which is the maximum impact tee per service unit computed using the capital improvements plan. (b) The City shall reimburse Developer as and when impact tees have been collected from new development which utilizes said water and wastev~ater lines. Reimbursement shall be structured as follows: (1) An initial payment of $75.707.78 t Seventy five thousand, seven hundred and seven dollars and seventy eight cents) within thirty (30) days of both parties' execution of this Agreement: (2) Quarterly payments (made xvithm ninety 190) days of each prior payment under this agreement) thereafter, based upon collection of impact fees from said new development. The City will monitor the collection of impact tees to determine the amount of each quarterly payment. (c) Payments shall continue on a quarterly basis until the Developer is reimbursed in tull for a total of $172.063.35 (One hundred and seventy tx~'o thousand and sixty three dollars and thirty five cents) calculated pursuant to Subsection ia). The City shall not be responsible for reimbursement tbr any quarter during xxhich no impact lees are collected. Section 3. Parties Bound: Assignment. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective legal representatives. successors and assigns. This Agreement may not be assigned, transferred or otherwise conveyed by the Developer without the prior written consent of the City. Section 4. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Texas. Venue shall be in Denton County. Texas. Section 5. Legal Construction. In case any one or more of the provisions contained in this Agreement shall for any reason be held to be invalid, illegal or unenforceable in anv respect, such invalidity, illegality or unenforceabilitv shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein. Section 6. Attorney's Fees. l'hc Panics agree that the developer shall reimburse the City its Attorney's fees incurred in drafting and preparation of this agreement. Section 7. Entire Agreement. This Agreement constitutes the entire agreement and understanding between the City and the Developer. This Agreement may only be changed or modified with the written consent of the Developer and the City Council. Such modification may be requested by either party, but shall not, in any event, be effective unless and until approved by the City Council of the City. IN WITNESS WHEREOF, each of the Parties hereto has caused this Agreement to be executed by its undersigned duly authorized representative as of the date herein above first mentioned. EXECUTED on this._~O- da.,.' of ~/~~_.. 2001. Patti Hicks. City Manager Attest: LEC[NO LN NORRIS DR I t KNOX OR ] ~lX DR ? J NAVAHO LN "'Y LN MEMORIAL PARK SITE EXHIBIT A ·..,. SEWER LINES ~ WATER LINES