2001-021
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2001021
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SubstitutionofCollateralKOrdinanceNo.201334712/17/13JR
S \Our Docura~nts\Ordmances\Ol\WynneJackson Ordinance doc
ORDINANCE NO ~/-- ~ /
AN ORDINANCE APPROVING A LETTER AGREEMENT BETWEEN WYNNE/JACKSON
LAKES DEVELOPMENT, L F AND THE CITY OF DENTON REGARDINC THE
HIGHWAY 377 WATER TRANSMISSION LINE AND THE GRAVEYARD BRANCH
INTERCEPTOR SEWER LINE, AUTHORIZING THE EXPENDITURE OF FUNDS
THEREFOR, AND PROVIDING AN EFFECTIVE DATE
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
SECTION 1 The City Manager is hereby authorized to execute a Letter Agreement
between the City of Denton and Wynne/Jackson Lakes Development, L P (Burch) in
substantially the form of the Letter Agreement attached hereto and made a part of this ordinance
for all purposes, pertmmng to the Highway 377 Water Transmission Line and the Graveyard
Branch Interceptor Sewer Lme
SECTION 2 The City Manager is authorized to make the expenditures as set forth in the
attached Letter Agreement
SECTION 3 Th~s ordinance shall become effective immediately upon its passage and
approval
APPROVED this the c,~ ~__._6L day of~d.~./~, 2001
PASSED
EULINE BROCK, MAYOR
ATTEST
JENNIFER WALTERS, CITY SECRETARY
BY ~'~f '"-'-~
WATER UTILITIES 901-A Texas Street Denton, TX 76209 (940) 349-8452 Fax (940) 349-7334
December 29, 2000
WynndJackson Lakes Development LP
c/o Wynne/Jackson, Ine
Clyde C Jackson, Jr, President
600 North Pearl Street, Suite 650
Lock Box 149
Dallas, TX 75201
Re Cost Share ofWynne/Jackson Lakes Development LP
Construction of the Fhghway 377 Water Transmass~on Line and the Graveyard Branch
Interceptor Sewer Line,
Dear Mr Jackson
Ths is to confirm that the City of Denton ("Denton") and Wyrme/Jaekson, Ine as representatives
of Wynne/Jackson Lakes Development LP ("Jackson") have recently met, and Jackson has roased
questions w~th the concepts and numbers advanced by Denton under Denton's enmputatlon of
Jackson's proportionate share of the costs of the water and wastewater hnes as set forth m the
Annexation Agreement, as amended (the "Agreement"), signed by Denton and Jackson's
predecessor m title, Violet Properties Associates m August of 1999 However, m order to
eomprormse and settle tbs matter, for good and valuable consideration, acknowledged by the
parties and as expressed herein, both parties agree to compronuse their differences regarding
such computation and other matters as prowded herein as follows
1 The total cost of the Wymae/Jackson Lakes Development LP wastewater line shall be
$1,247,588
2 Included m the $1,247,588 sum, are bond selling costs of $82,598 much of wbach is
refunded at the end ora successful project Since the Country Lakes Pro3ect is an integral part of
the Agreement, at such tune as 50% of the total anticipated single famaly building pernuts m the
Denton portion of the Country Lakes Prolect have been issued by Denton, Denton vail refund the
port~on of the bond solhng costs that are associated with the bond deposits placed by Denton m
conluncUon with the debt associated w~th the wastewater facilities referenced m the Agreement
Smd deposit amount to be refunded to ~ackson is $73,413 (plus interest computed at the same
rate that Denton receives on the total deposit)
?age 2
3 The parties agree that a release of not more than twenty five lots (out of The Country
Lakes Project in the Denton City Llnuts) for bmlchng pernuts will be effected by the City
herewith when smd lots are complete but before final acceptance of all Phase I improvements by
Denton (the "Early Release Lots"), provided however, that the Fire Marshall of Denton is
satisfied with the temporary fire protection and public safety proxasions No certificates of
occupancy will be issued on these Early Release Lots until final project acceptance of the Phase I
improvements
4 The easement costs shall be based upon a "linear foot" basis, co-extensively wah Argyle
For example Argyle shall bear one hundred percent of the easement costs up to the ternunus at
their metenng station Then the cost shall be divided by three, in equal shares, to be assumed
and prod in these equal shares by Denton, Argyle, and Jackson In our November 15 letter,
Denton estimated easement costs of $86,645 Since that time easement acqmsition costs have
continued to nsc, the costs Denton indicated in our most recent proposal reflected easement cost
through the Denton Country Club, the final costs for easement will be based on a linear foot cost
basis The proporUonate cost sharing by the parties shall be based on actual rather than
estimated easement costs (upon request Denton will furmsh details)
5 The Agreement is hereby amended so that the completion of construction for the water
line and wastowater line shall be extended from April 1, 2001 to May 1, 2001, Subject only to
further extensions of time when circumstances reasonably beyond Denton's control cause delays
m construction under the circumstances set forth m the first and second amendments to the
Agreement
6 The total of the Jackson cost share of the water hne is $507,617
7 Included m the $507,617 sum, are bond selling costs of $33,611 much ofwluch is
refunded at the end cfa successful project Since the Country Lakes Project is an integral part of
the Agreement, at such t~me as 50% of the total anticipated single fanuly building pernuts in the
Denton pomon of the Country Lakes Project have been issued by Denton, Denton will refund the
pomon of the bond selling costs that are associated with the bond deposits placed by Denton in
conjunction with the debt associated with the water facilities referenced in the Agreement Smd
deposit amount to be refunded to Jackson is $29,873 (plus interest computed at the same rate that
Demon receives on the total deposit)
8 The total amount to be spent by Jackson for the Jackson share of the wastewater tine and
the water line is $1,755,205 before repayment of Jackson's portion of the bond depoms for water
and sewer
9 All other terms and conditions in the agreement not amended by flus letter agreement
shall remain m full force and effect Notlung herein contained shall be deemed to wmve or
release any right or obhgataon of Denton or Jackson under the Agreement, unless expressly set
forth m tins letter agreement
If you have any questions regarding this letter and/or the project, you may refer them to Jim
Coulter, Director of Water and Wastewater Utilities who may be reached at (940) 349-7194, or
to Howard Martin, Assistant City Manager/Utilities who may be reached at (940) 349-8420 If
you have no questions, please execute tlus letter at the place below The parties sigmng ttus
letter are duly anthonzed to bind the City and Jackson and when signed tlus letter shall constitute
an enforceable agreement binding on the pames subject to the Denton C~ty Council approving or
ratlfsang flus agreement
Sincerely,
CITY OF DENTON, TEXAS
WYNNE/JACKSON LAKES DEVELOPMENT L P
By W/J Lakes Development, Inc,
its General Partner
MWJ/msc
cc Yvonne A Senlons, Mayor, Argyle, Texas
Herbert L Prouty, C~ty Attorney Howard Martin, ACM/Utilities
Jim Coulter, D~reetor, Water/Wastewater