13-34 - RTOWN OF PROSPER, TEXAS
RESOLUTION NO. 13-34
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF
PROSPER, TEXAS, HEREBY AUTHORIZING THE TOWN MANAGER
OF THE TOWN OF PROSPER, TEXAS, TO EXECUTE A PARK
IMPROVEMENT FEE AGREEMENT FOR PARK IMPROVEMENTS IN
LAKES OF PROSPER, PHASES 2C, 3, 4, 5, AND 6, BETWEEN
FORESTAR GROUP, INC., AND THE TOWN OF PROSPER, TEXAS.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF PROSPER, TEXAS:
SECTION 1
The Town Manager of the Town of Prosper, Texas, is hereby authorized to
execute, on behalf of the Town Council of the Town of Prosper, Texas, a Park
Improvement Fee Agreement for park improvements in Lakes of Prosper, Phases 2C, 3,
4, 5, and 6, between Forestar Group, Inc., and the Town of Prosper, Texas, as hereto
attached.
SECTION 2
This Resolution shall take effect immediately upon its passage.
DULY PASSED AND APPROVED BY THE TOWN COUNCIL OF THE TOWN
OF PROSPER, TEXAS, THIS THE 28TH DAY OF MAY, 2013.
' S
Ray Lth, Mayor
poxv" Rg
��•Ltle, Town Secretar�
PARK IMPROVEMENT FEE AGREEMENT
(Lakes of Prosper, Phases 2C, 3, 4, 5, and 6)
THIS PARK IMPROVEMENT FEE AGREEMENT (the "Aoreement") is made and entered
into as of this q"' day of , 2013, by and among FORESTAR (USA) REAL
ESTATE GROUP, INC., a Delaware corporation ("FG") and the TOWN OF PROSPER, TEXAS
("Prosper"), on the terms and conditions hereinafter set forth.
WHEREAS, the parties agree that FG may fulfill its obligations to pay park improvement
fees in the manner set forth below.
NOW, THEREFORE, in consideration of the covenants and conditions contained in this
Agreement, FG and Prosper agree as follows:
1. Land Subiect to Amendment. The land that is the subject to this Amendment is the Lakes of
Prosper, Phases 2C, 3, 4, 5 and 6.
2. Cost of Park Improvements. The estimated cost of designing and constructing the hike and
bike trails is $228,605, which includes a pedestrian bridge over an existing gas easement as
depicted in Exhibit A. The cost of credits will be based on the actual cost of the improvements
to be approved by the Town.
3. Impact Fees and Assessments. FG and Prosper agree that the park improvement fees
associated with the development of the Lakes of Prosper, Phase 2C, 3, 4, 5 and 6, will be
assessed as prescribed in the Park Fee Ordinance, as they currently exist or may be amended
in the future. The current rate for park improvement fees at the time of the agreement is $1,500
per platted residential lot.
4. Pavment of Park Improvement Fees. FG and Prosper agree that the park improvement fees will
be credited and/or paid to the Town as stipulated below:
a.) Lakes of Prosper, Phase 2C: $59,000 of park improvement fees will be credited by the
Town to the developer towards the actual cost of the hike and bike trail improvements at the
time of final acceptance of the improvements.
b.) Lakes of Prosper, Phase 3: $51,000 of park improvement fees will be credited by the Town
to the developer towards the actual cost of the hike and bike trail improvements at the time
of final acceptance of the improvements.
c.) Lakes of Prosper, Phase 4: $84,000 of park improvement fees will be collected by the
Town at time of final acceptance of the improvements with Lakes of Prosper, Phase 4.
d.) Lakes of Prosper, Phase 5: $58,500 of park improvement fees will be credited by the Town
to the developer towards the actual cost of the hike and bike trail improvements at the time
of final acceptance of the improvements with Lakes of Prosper, Phase 5.
e.) Lakes of Prosper, Phase 6: $60,105 of park improvement fees will be credited by the Town
to the developer towards the actual cost of the hike and bike trail improvements at the time
of final acceptance of the improvements with Lakes of Prosper, Phase 6. $71,895 of park
improvement fees will be collected by the Town at the time of final acceptance of the
improvements with Lakes of Prosper, Phase 6.
Lakes of Prosper, Phases 2C, 3, 4, 5 and 6 — Park Improvement Fee Agreement Page 1 of 7
5. Default.
In the event FG fails to comply with any of the provisions under this Amendment, Prosper shall
have the following remedies, in addition to Prosper's other rights and remedies:
a.) To refuse to issue building permits in relation to the FG Property; and/or
b.) To require specific enforcement of this Amendment.
6. Notices. Any notice provided or permitted to be given under this Agreement must be in writing
and may be served by depositing same in the United States mail, addressed to the party to be
notified, postage pre -paid and registered or certified with return receipt requested, or by
delivering the same in person to such party via a hand —delivery service, Federal Express or any
courier service that provides a return receipt showing the date of actual delivery of same to the
addressee thereof. Notice given in accordance herewith shall be effective upon receipt at the
address of the addressee. For purposes of notice, the addresses of the parties shall be as
follows:
If to FG, to: �}�,•, bq/•�t �ri�
Forestar (USA) Real Estate Group, Inc.
14755 Preston Rd
Dallas, TX 75254
If to Prosper, to:
Town Manager
P.O. Box 307
Prosper, TX 75078
7. Miscellaneous.
a. This Agreement contains the entire agreement of the parties with respect to the matters
contained herein and may not be modified or terminated except upon the provisions hereof
or by the mutual written agreement of the parties hereto. There are no oral understandings
or agreements between the parties regarding the subject matter hereof.
b. This Agreement shall be construed in accordance with the laws of the State of Texas and
shall be performable in Collin County, Texas.
c. The parties hereto without coercion or duress and for substantial consideration, the
sufficiency of which is forever confessed, execute this Agreement.
d. This Agreement may be executed in a number of identical counterparts, each of which shall
be deemed an original for all purposes.
e. The individuals executing this Agreement on behalf of the respective parties below
represent to each other and to others that all appropriate and necessary action has been
taken to authorize the individual who is executing this Agreement to do so for and on behalf
of the party for which his or her signature appears, that there are no other parties or entities
required to execute this Agreement in order for the same to be an authorized and binding
agreement on the party for whom the individual is signing this Agreement and that each
individual affixing his or her signature hereto is authorized to do so, and such authorization
is valid and effective on the date hereof.
Lakes of Prosper, Phases 2C, 3, 4, 5 and 6 — Park Improvement Fee Agreement Page 2 of 7
This Agreement shall be binding upon and inure to the benefit of the parties hereto and
there respective heirs, executors, administrators, legal representatives, successors and
assigns, as allowed herein.
g. 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 any respect, such invalidity, illegality or
unenforceability shall not affect any other provision thereof, and this Agreement shall be
construed as if such invalid, illegal or unenforceable provision had never been contained
herein.
h. All construction shall be in accordance with Prosper's ordinances, as they exist or may be
amended, or in the future arising.
Nothing in this Agreement shall be implied to vest any rights in the parties except as are
provided by statute, ordinance or as expressly provided in this Agreement.
j. The parties agree that Prosper has not waived its sovereign immunity by entering into and
performing its obligations under this Agreement.
k. This Agreement is not assignable without the prior written consent of Proper.
IN WITNESS WHEREOF, the parties have executed this Agreement and caused this Agreement to
be effective on the latest date as reflected by the signatures below.
FORESTAR (USA) REAL ESTATE GROUP, INC.
a Delaware corporation
By:
Darr`\ �. ✓tc-c' ��a,..--r
Date: S— 12 F-- 13
TOV
By:
iger
DatE
Lakes of Prosper, Phases 2C, 3, 4, 5 and 6 — Park Improvement Fee Agreement Page 3 of 7
STATE OF TQK(s §
COUNTY OFF §
BEFORE ME, the undersi,ggned authority, on this day personally appeared
Iowe,l A%en , .viee Nre�denf- of FORESTAR (USA) REAL ESTATE
GROUP, INC., a Delaware corporation, known to me to be the person whose name is subscribed to
the foregoing instrument; he acknowledged to me he executed said instrument for the purposes and
consideration therein expressed and in the capacity therein stated.
GIVEN
N
at6
UNDER MY HAND AND SEAL OF OFFICE this o2g 44-1 day of
, 2013.
Pue�c SIROMI C.R. NADARAJAH
} Notary Public
(P STATE OF TEXAS
Gomm. Expires 10-4.2018
STATE OF TEXAS §
COUNTY OF COLLIN §
vStoo►' . C. 7Z _ NOA "'03 ,
Notary Public in and for the Statd of Texas
My Commission Expires:
ID- 4-1 �
BEFORE ME, the undersigned authority, on this day personally appeared HARLAN
JEFFERSON, Town Manager, known to me to be the person whose name is subscribed to the
foregoing instrument; he acknowledged to me he is a duly authorized representative for the Town of
Prosper, Texas, and he executed said instrument for the purposes and consideration therein
expressed.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this �� day of
2013. ;
Notary Public in and fob the'Ste of Texas
`•' CAROL MYERS
MY COMMISSION EXPIRES
October 25, 2013
My Commission Expires:
Lakes of Prosper, Phases 2C, 3, 4, 5 and 6 — Park Improvement Fee Agreement Page 4 of 7
Lakes of Prosper, Park Fee Reimbursement
Town of Prosper, Collin County, Texas
Based on Construction Plans. Dated 4-23-2012
Total Lots: 276 Total Acres: 94.8
Prepared: 04126112 Revised: 05106113
Opinion of Probable Cost Summary
CATEGORY
PHASE2C
PHASE 3
PHASE 4
PHASE. 5
PHASE 6
CITY, PROFESSIONAL & MISCELLANEOUS FEES
SUB -TOTALS
OVERALL CONTINGENCY (5%)
CATEGORY TOTALS
TOTAL
$169,875
$29,250
$0
$4,350
$0
$14, 244
$217,719
$10,886
I $228,605
NOTES:
- UNIT PRICES ARE BASED ON SIMILAR PROJECTS BID IN 2012, FINAL REIMBURSEMENT SHALL
BE DETERMINED BY ACTUAL CONSTRUCTION COSTS
- NO REIMBURSEMENT SHALL BE PROVIDED FOR TRAIL ON THE SOUTH SIDE OF LAKE TRAIL LANE DUE TO
A "NO SIDEWALK" REQUIREMENT ON NORTH SIDE OF LAKE TRAIL LANE
- AT LOCATIONS WHERE TRAIL IS WITHIN STREET RIGHT-OF-WAY, REIMBURSEMENT SHALL BE THE COST
DIFFERENCE BETWEEN A 4' WIDE SIDEWALK AND AN 8' WIDE TRAIL
Park Improvement Fees (Paid by Developer)
LOTS FEE/LOT TOTAL
PHASE 2C 59 $1,000 $59,000
PHASE 3 34 $1,500 $51,000
PHASE 4 56 $1,500 $84,000
>r
PHASE 6 88 $1,500 $132,000
TOTAL PARK FEE $384,500
DAA No. 01050E-00 DOWDEY, ANDERSON AND ASSOCIATES
Opinion of Probable Cost
Lakes of Prosper. Park Fee Reimbursement
Town of Prosper, Collin County, Texas
Based on Construction Plans, Dated 4-23-2012
Total Lots: 276 Total Acres: 94.8
Prepared: 04126112 Revised: 05106113
UNIT COST
UNIT
QTY
TOTAL
PHASE 2C
M
(_)
(± #)
($)
8' HIKE & BIKE TRAIL (8' REIMBURSEMENT)
$ 3.75
S.F.
11920
$
44,700.00
8' HIKE & BIKE TRAIL (4' REIMBURSEMENT)
$ 3.75
S.F.
2900
$
10,875.00
BARRIER FREE RAMP
$ 1,100.00
EA.
13
$
14,300.00
PEDESTRIAN BRIDGE
$ 100,000.00
L.S.
1
$
100,000.00
TOTAL
$
169,875.00
UNIT COST
UNIT
QTY
I
TOTAL
PHASE 3
M
W
#)
M
8' HIKE & BIKE TRAIL (8' REIMBURSEMENT)
$ 3.75
S.F.
6920
$
25,950.00
8' HIKE & BIKE TRAIL (NO REIMBURSEMENT)
$ 3.75
S.F.
0
$
-
BARRIER FREE RAMP
$ 1,100.00
EA.
3
$
3,300.00
TOTAL
$
29,250.00
UNIT COST
UNIT
QTY
TOTAL
PHASE 4
�$)
0
#)
($)
NO TRAIL
S.F.
0
$
-
TOTAL
Is
"
Aw
8' HIKE & BIKE TRAIL (4' REIMBURSEMENT) $ 3.75 S.F. 1160 $ 4,350.00
TOTAL 1 $ 4,350.00
UNIT COST UNIT QTY TOTAL
PHASE 6 M I (_) #) 1 ($)
8' HIKE & BIKE TRAIL (NO REIMBURSEMENT) $ 3.75 I S.F. OI $
TOTAL $
CITY, PROFESSIONAL & MISCELLANEOUS FEES UNIT COST UNIT QTY TOTAL
PROFESSIONAL FEES:
ENGINEERING & STAKING (7%) $ 14,243.25 LS. I 11 $ 14,244.00
TOTAL 1 $ 14,244.00
DAA No. 01050E-00 DOWDEY, ANDERSON AND ASSOCIATES
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Q PHASE 2G TRAIL TRAIL EXHIBIT
-
PHASE 3 TRAIL
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PHASESTRAILREIMBURSABLE TRAILPHASE 6 TRAILNON-REIMBURSABLE TRAIL
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2011.05.06