HomeMy WebLinkAboutResolution 2005-077 development agreement for continental reserve
MARANA RESOLUTION NO. 2005-77
RELATING TO DEVELOPMENT; AUTHORIZING THE EXECUTION OF A DEVELOPMENT
AGREEMENT WITH HB LAND DEVELOPMENT COMPANY RELATING TO THE
CONTINENTAL RESERVE DEVELOPMENT PROJECT.
WHEREAS, the growing population of the Town of Maran a places increasing demand upon
the existing public infrastructure and parks in the region; and
WHEREAS, the Town desires to develop new public infrastructure and parks to meet the
demands that are placed upon the Town's roadway, utility and park facilities as a consequence of
increasing population and the proportionate increase in usage brought about by new growth; and
WHEREAS, the Town and the residents of the Continental Reserve development will jointly
benefit from the development of the park facilities projects; and
WHEREAS, it is in the best interest of the citizens of the Town of Maran a to improve the
capacity of the Town's existing public park facilities by encouraging the development of additional
public parks at the time of new development; and,
WHEREAS, HB Development has constructed and conveyed to the Town a fully amenitized
public park of9.2 acres in size; and,
WHEREAS, Arizona Revised Statutes, ~ 9-463.05 requires that developer dedications and
improvements shall be considered for credit against applicable impact fees.
NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council of the Town of
Marana, Arizona, that the Mayor is authorized to execute a Development Agreement with HB Land
Development Company, for the purposes of establishing a revised park impact fee schedule for new
development in the Continental Reserve development.
PASSED AND ADOPTED by the Mayor and Council of the Town of Mar
this 5th day of July, 2005.
ATTEST:
~~
.,
f~ Jocelyn . Bronson
Town Clerk
APPROVED AS TO FORM:
/ 4'))/
(IFr Cassidy/ToWn Attorney,
ji
~> !
..
~\'\'""""~
~~OF~~
s~~
iiJi:1 0 ~ ~
,.:; 000 ::
ClUA.T "" -
~ ~s;:
, ~
~.1lfi.l:~'
TOWN OF MARANA
DEVELOPMENT AGREEMENT REGARDING
DEVELOPMENT IMPACT FEE CREDITS FOR
CONTINENTAL RESERVE
1HIs AGREEMENT (this" Agreement") is entered into by and between the TOWN OF MARANA,
an Arizona municipal corporation (the "Town"), and HB LAND DEVEWPMENT COMPANY, an
Arizona Corporation (the "Developer"). The Town and the Developer are sometimes collectively
referred to as the "Parties," each of which is sometimes individually referred to as a "Party."
RECITALS
A This Agreement is entered into and authorized pursuant to AR.S. ~ 9-500.05.
B. The Town has adopted certain development impact fees for roads and regional parks
pursuant to AR.S. ~ 9-463.05.
C. The Developer is developing the land described and depicted on the subdivision plat
recorded in the Pima County Recorder's office at Book 53 of Maps and Plats, Page 35
("Continental Reserve").
D. The Developer is entitled to credit pursuant to AR.S. ~ 9-463.05(B)(3) toward the
payment of the Town's adopted development impact fees based on the required dedication of
public sites and improvements provided or to be provided by the Developer in connection with
the development of Continental Reserve.
E. The Parties desire to memorialize their agreement concerning the amount of the devel-
opment impact fee credit applicable to Continental Reserve.
AGREEMENT
Now, TIIEREFORE, in consideration of the foregoing premises and the mutual covenants set
forth in this Agreement, the Parties hereby agree as follows:
1. Credit toward regional park development impact fees.
1.1. Total value. The total value of regional parks provided by the Developer to the Town in
connection with the development of Continental Reserve, including the value of any and all re-
gional park lands conveyed to the Town and any and all allowable regional park construction
costs, is $2,070,000.00.
1.2. Total lots. The total number of residential lots anticipated to be constructed in connec-
tion with the development of Continental Reserve is 1,326.
{OOOOO925.DOC I}
- 1 -
1.3. Credit per lot. The credit against regional park development impact fees is $1,561.00 per
lot.
1.4. Current fee. As of the date of this Agreement, the Town's regional park development
impact fee that would apply to Continental Reserve before the credit is $2,884.00. Subtracting
the $1,561.00 credit, the current regional park development impact fee for Continental Reserve is
$1,323.00 per lot.
1.5. Future fee revisions. If the Town amends its arterial roadway development fee applica-
ble to Continental Reserve, the fee per lot shall be the then-applicable fee minus $1,561.00.
1.6. Actual construction and dedication as condition of credit. The credit against regional
park development impact fees calculated in accordance with this paragraph 1 shall apply only to
the extent the regional park construction and dedication has been completed or is in progress to
the reasonable satisfaction of the Town.
2. Miscellaneous
2.1. Binding effect. This agreement shall be binding upon and inure to the benefit of the heirs,
executors, administrators, successors and assigns of the Parties.
2.2. Cancellationfor conflict of interest. This agreement is subject to A.R.S. ~ 38-511, which
provides for cancellation in certain instances involving conflict of interest.
IN WI1NESS WHEREOF, the Parties have executed this Agreement as of the last date set forth
below their respective signatures.
TOWN:
DEVELOPER:
nrn TOWN OF MARANA, an Ari ona municipal
corporation (' /J
By: 2e)/
HB LAND DEVELOPMENT COMPANY, an Arizona
Corporation
Ed Honea, Mayor
By:
David Goldstein, President and Managing
Partner - Diamond Ventures
Date: -:J\A\'f 5,. 'd.oo.s
Date:
ATTEST:
~~
-tu< ~o~:. . Bronsoo, Clerk
....\"""',',~
~,_\. OF AA ~ ~
~~~&\\"";"~~~
~O ~ ~
:: ~... CORPORATe \: ~
- :: CIC)ro :: -
- - = -
S \SEALI S
~ ~......~ ~
'-f~1Z 1911"
1"llill'\\\~
APPROVED AS TO FORM:
-2-
STAlE OF ARIzONA )
ss
County of Pima )
The foregoing instrument was acknowledged before me on by David
Goldstein, President and Managing Partner of Diamond Ventures, on behalf ofHB Land Devel-
opment Company, an Arizona Corporation.
My commission expires:
Notary Public
{OOOOO925.DOC I}
3
Credit Analysis for Development Impact Fees.
Project Name:
Continental Reserve
Roadways: per South Marana Transportation Benefit Area
Parks:
Park land conveyed to Town: 9.2 acres, developed
Park developed and accepted to Town, therefore credit at $225,000 / acre.
Value: $2,070,000, or $1,561 per lot for 1326 lots. This is a credit to be applied
against impact fee liability.
Impact fee amount, after credits $1,323
Revised 5/2/05