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23-915
FILE REFERENCE FORM X Additional File Exists Additional File Contains Records Not Public, According to the Public Records Act Other FILE(S)Date S - I?' Initials /,-_22 -2qq ORDINANCE NO. 23-9 15 AN ORDINANCE OF THE CITY OF DENTON, TEXAS, AUTHORIZING THE CITYMANAGER TO EXECUTE A FIRST AMENDMENT TO AGREEMENT BY AND BETWEEN THE CITY OF DENTON, TEXAS AND FORESTAR (USA) REAL ESTATE GROUP, INC.FOR ROADWAY IMPACT FEE AND ASSIGNABLE CREDITS FOR EAGLE CREEK ADDITION PHASES 1-4; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City of Denton, Texas (the “City”) and Forestar (USA) Real Estate Group, Inc, a Delaware corporation (the “Developer”) entered into a Development Agreement (the “Agreement”) whereby Developer would be credited future Roadway Impact Fees in exchange for Developer’s complete street reconstruction of 1) Parvin Street from Highland Park Road to McCormick Street, and 2) Highland Park Road from Willowcrest to Roselawn; and WHEREAS, the Agreement granted Developer the right to assign its Roadway Impact Fee credits to homebuilders within Eagle Creek Addition Phases 1-4; and WHEREAS, the Agreement was executed on September 26, 2022, after 130 lots in Eagle Creek Phases IA and IB had already paid Roadway Impact Fees; and WHEREAS, the City and the Developer desire to amend the Agreement as shown in theFirst Amendment to Agreement attached hereto as Exhibit “A,” specifically to address reimbursement to Developer in an amount not to exceed two hundred sixty thousand dollars and zero cents ($260,000.00) which is an amount equal to the Roadway Impact Fees submitted to the City for 130 lots in Eagle Creek Phases IA and IB prior to September 26, 2022; and WHEREAS, the City believes that the Agreement is in the best interests of the City as the City has already accepted the construction and reconstruction Parvin Street from Highland Park Road to McCormick Street and said reconstruction provides growth of a new development in the City of Denton, and that a valid governmental purpose is served by said Agreement; NOW,THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS: SECTION 1. The City Manager, or designee, is hereby authorized to execute, on behalf of the City Council of the City of Denton, Texas, the "First Amendment to Agreement” attached hereto as Exhibit "A" and is incorporated by reference herein. SECTION 2. The City Manager, or designee, shall have the authority to expend funds that are necessary to perform this Agreement. SECTION 3. This Ordinance shall become effective immediately upon its passage and approval. r Th, m,ti,„t, ,pprove ths ordinance w„ m,d, by CUffs I., >]+s ,nd „,,„d,d by b t:h' a R,JsFi k . Thi' ”di"'"” i'Fl'wi"g''t' LZ Aye Nay Abstain Absent Mayor Gerard Hudspeth: Vicki Byrd, District 1 : Brian Beck. District 2: Paul Meltzer. District 3 : Joe Holland. District 4: Brandon Chase McGee, At Large Place 5 : Chris Watts, At Large Place 6: ,/ \/ ,/ a b/ ,/J PASSED AND APPROVED thi, th, / Gt- d,y ,f m,', 2023 GERARD HUDSPETH, MAYOR ATTEST: JESUS SALAZAR, INTERIM CITY SECRETARY ,111111 APPROVED AS TO LEGAL FORM: MACK REINWAND, CITY ATTORNEY -M7\gtA ::;LU;onBY: J 1 1 :02:39 -05'oo' rON'llltttl EXFrrBIT A STATE OF TEXAS §i gCOUNTY OF DENTON FIRST AMENDMENT TODEVELOPMENT AGREEMENT This First Amendment to Development Agreement (“Amendment”) is entered into by Forestar (USA) Real Estate Group Inc., a Delaware corporation, acting by and through its duly authorized officers, with a principle place of business located at 2221 E. Lamar Blvd., Suite 790, Arlington, Texas,76006 (“Developer”), and City of Denton, a home-rule city and a political subdivision of the State of Texas, acting by and through its duly authorized officers (the “CityI” Developer and City herein. referred3\to collectively as the “Parties”); is effective Wd 2023 (the “AmendmentEffective Date“). ‘ WITNE S SETH WHEREAS, City and Developer entered into a Development Agreement whose latest date of execution was September 26, 2022 (“Development Agreement”); and WHEREAS, the Development Agreement stipulated the conditions under which Developer’s completion of street reconstruction activities would be eligible for credit on future Road Impact Fees, and that such credits were assignable to future home builders; and WHEREAS, the Parties now desire to amend the Development Agreement to add an amendment regarding the reimbursement to Developer in an amount not to exceed two hundred sixty thousand and zero cents ($260.000.00) of fees submitted to the City as Roadway Impact Fees prior to Septernber 26, 2022 (the Effective Date of the Development Agreement) for certain lots. WHEREAS, the Parties desire to formulate this Amendment as a recorded covenant running with the land, to ensure that Developer and its successors, if any, can)' out Developer’s obligations in accordance with this Agreement. NOW THEREFORE, in consideration of the mutual covenants and obligations herein, the parties agree as follows: S ECTION 11 INCORPORATION The parties affirm that all of the matters set forth in the preamble above are hue and correct and hereby incorporated herein by this reference as if fully set forth in this Amendment. SILCTION 2. ADDED PROVISION First Antended Development Agreement Page ! of 5 Eagle Creek Phases IA, IB, 2A, 213, 3A, 38, 4 i Section 1 of the Development Agreement, Term, is hereby alnenciec{ to add the following paragraph at the end of Section 1 : “In ftuther consideration for the reconstruction of Parvin Street from Highland Park Road to McCormick Street, and of Highland Park Road from Willowcrest to Roselawn, the paNies agree the City will reimburse Developer in an amount not to exceed two hundred sixty thousand dollars and zero cents ($260,000.00) which is an amount equal to the Roadway Impact Fees submitted to the City for 130 lots in Eagle Creek Phases IA and IB prior to September 26, 2022. Developer agrees to submit documentation requested by the City to permit City to determine eligibility fOI reimbursement pursuant to this Amendment. SECTION 3. FILING Upon execution, this Amendment shall be recorded in the Denton County Real Property Records as covenants running with the land, burdening subsequent purchasers of the Subject Property or any part thereof, if any, until all obligations of the Developer are satisfied in full. IiI i IiiSECTION 4. FULL FORCE AND EFFECT Except as expressly modified by this Amendment, all terms and conditions of the Agreement shallremain in full force and effect. SECTION 5. SEVERABILITY In case any one or more of the provisions contained in this Amendment shall for any reason be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceabiiity shall not affect any other provision thereof and this Amendment shall be considered as if such invalid, illegal, or unenforceable provision had never been contained in this Alnendnrent. SECTION 6. COUNTERPARTS This Amendment may be executed in any number of counterparts, each of which shall be deemed an original and constitute one and the same instrument. SECTION 7. CAPTIONS The captions to the various clauses of this Anrendment are for informational purposes only andshall not alter the substance of the terms and conditions of this Amendment. SECTION 8. ENTIRE AGREEMENT This Amendment, together with the Development Agreement, constitutes the entire agreement between the parties hereto with respect to the subject matter contained herein, and supersedes all prior agreements or prior understandings. whether written or oral, between the parties relating to such subject matter. First Amended Development Agreement Page 2 of 5 Eagle Creek Phases IA, IB, 2A, 2B, 3A, 3B, a EXECUTED this 1 6*'' d,y of through its City Manager, and by the Devel 2023, by the City, signing by and !h its duly authorized officers. CITY OF DENTON Sara Hensley City Manager A Jesus Salalar,..Jntwiin City.A ,\1111111,F Ofle+•+•e•+ THIS AGREEMENT HAS BEEN BOTH REVIEWED AND APPROVED as to financial and operational obligations and business terms. TOy 11111111 i ! i i i ! i ""b,t„/L& 1E: : lea : :: : : : : I!IF4:1 / [1111117(EIIII?1113 APPROVED AS TO LEGAL FORM : Mack Reinwand, City AttorneyIbath :£l;;L:?lgoron By: J 14:46:07 -05'oo' i ! ! Forestar' (USA) Real Estate Group Inc., a Delaware corporation By:Namg Title I i i First Amended Developlnent Agreement Page 3 of 5 Eagle Creek Phases IA, IB, 2/\, 2B, SA, 3B, 4 ACKNOWLEDGMENTS STATE OF TEXAS g § 6COUNTY OF DENTON 282-% Sarabefore me on the lay ofThis instrument was acknowledged Hensley, being City Manager of the City of Denton, a Texas home-rule municipal corporation, on behalf of said municipality. My Commission expires: dd(7 i i ! ACKNOWLEDGEMENT STATE OF TEXAS § COUNTY arT&r raJ § 2023, by(USA) R€ Th lcknowledged before me Ol If being the rX 'IIIe a Delaware corporation, on behalf of said corpora-donf) of Forestar Notary Public, State of Texas M, Commission ex,ire;: 4@/ AOA\O CHRISTI PIERCENotary ID #129055387 MY Cammlsston ExpIresAugust 23, 2026 ! i i i i iEagle Creek Building Permits (Issued before September 26, 2022) PermIt Number Permit TypeIRBtH!!Ha!MIMEI==[HIlIEI RESIDENTIAL RESiDENTIALm RESIDENTIALREg[II:ISIES! RESIDENTIAL RESIDENTIAL RESiDENTIAL RESiDENTIALHBmBMS[==[BIlIIng RESIDENTIAL RESIDENTIAL RESiDENTIAL RESIDENTiAL IEE[IIlIIE! RESIDENTIAL S RESiDENTIAL RESIDENTIAL RESIDENTIAL1:BIg!1IIE! h IREsIDENTIAL @SIDENTIAL j®rgTEiERTTifMiTiP/\lRESIDENTIAL NI==[Eglila!RESIDENTIAL ISubdivision IRefund Amount IDate issuedMWHEnMlaBM MlMiMoaMMIBI 2112.04 13 2111.1452 MB18E18MIaIHmtMmm1Mt®ii7 @IIBIiIZIg2112.0410 aZ ]©2 EIEEE] MInI Mt}@ 10800MF® mI ®M16iBliIBI 2112.0879 2111-1440]Mlmama 2111-+447nHIM 2112.04t©8211 MEiR] 21 12-0775 a2BMEIEEEI 2412.0822 21liM2 2201 -(A lg 220 t MMBB 220 1 -0418 BaE![][]liM[n- PH,agEanImm E [<ramELF IAFRBIBLE CREEK . PHASE 1 AEEK - PHPMnMEaK . PH4Mh[!®:TfEFEtTF [\BFE @bE CREEK - PHASE 1 ArExMmm©lnR . PH/Ml/\M GBG< @ PhASE-iXrET{:BmMg[!!in!!R- PH/M}AElamaR=gIg. PHA©3F\FE/;aHElzlg13aiga . PHjgZE\EGEMF C [Z{GLE CREEK . 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PHASEnETFCmMmmsB@M-iTaREnT:mgFIB& IAK IB 18 18 $2.000.00 2,000.00M 2,000.CO 2,000.00 2,000.002.oM 2,000.00 2.000.00 2.000.00alml la 2.000.00 2,000.00 2,000.00 2,000.00 2,000.00MI myED.ooMM 2,000.00 2,000.00UnTIl ©895jl1l81 2,000.00 2.DCfim 2.000.00 2,000,OO 2.000.00MR@nFllm ncM© 2,ooQT6EI 2,000 ,DO 2,caM@ 2.aGO.oo 2.000.00 2.000 ,DOMI 2,000.00 2,000.00M 2,000_on 2,000.00 2.000.00 2,000.00 2.000.00 2.000.00 1/06/2022m/(BElt;MGRiM;; BEll@iHI[tEm@8E3ZBEZiW[IBIEWMM©MmBME&m6©Bmm/ $EiE§FiD7Mm/iIInla ES/ 1 8/2022FmGRIPE;B @g/ZE8/m 19167E2022FaRm-blahla [tEIEm2MmHUgH15/ 1 9/202; ig;19/2a22 B/ 19/2022 Mo%2022M/2022 HD91ai]8jH®l[IEa&m 18828))226E8am2[tEaMm©BEInn)[tMPkm [87iIHF27M3/2i@ BB®m2GERm BEla:8922 i i i l=BBlab[MR®mMMm l[@Fawn[ RESIDENTIALla;sljmFRi:gTb7m I ERESIDENTIAL [1 ifgE}§!}DENTFAL RESIDENTIAL RESIDENT 1mA RESiDENTIAL RESIDENTIAL RESIDENTIAL RESIDENTIALMiTRESIDENTIAL I RESIDENTiAL RESiDENTIAL RESIDENTIAL RESIDENTIALMMRESiDENTIAL RESIDENTIAL RESIDENTIAL RESIDENTIAL I RESIDENTIAL I k€ESIOENTIAL'RESIOENTIAL RF BSIDENT tAL RESIDENTIAL @®g©TXlIAL IMaa8 RESIDENTIAL RESIDENTIAL [RESIDENTiAL IB 18 IB TB IB IB IB IB IB IB 18 IB IB 18B IB 18 $ $ : ! i ; ! 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