HomeMy WebLinkAboutResolution 2010-039 development agreement with legacy apartments at dove mountainMARANA RESOLUTION N0.2010-39
RELATING TO DEVELOPMENT; APPROVING AND AUTHORIZING THE MAYOR TO
EXECUTE A DEVELOPMENT AGREEMENT WITH LEGACY APARTMENTS AT DOVE
MOUNTAIN, L.L.C., PROVIDING FOR DEFERRAL OF PARK DEVELOPMENT IMPACT
FEES
WHEREAS LEGACY APARTMENTS AT DOVE MOUNTAIN, L.L.C. ("Legacy") is the
developer of the Legacy Apartments at Dove Mountain, a 168-unit apartment complex; and
WHEREAS Legacy will owe park development impact fees to the Town for the
development of Legacy Apartments, which would ordinarily be due and payable at time of permit
issuance; and
WHEREAS A.R.S. § 9-463.05(B)(3) authorizes development impact fees associated with
the construction of residential dwelling units to be deferred as specified in a development
agreement executed pursuant to A.R.S. § 9-500.05, so long as the deferred fees shall be paid no
later than 15 days after the issuance of a certificate of occupancy and so long as the value of the
fees is supported by appropriate security; and
WHEREAS the proposed Legacy Apartments Development Agreement satisfies all of the
requirements for deferral of development impact fees; and
WHEREAS the Mayor and Council find the terms and conditions of the Legacy
Apartments Development Agreement are in the best interest of the Town.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE
TOWN OF MARANA, ARIZONA, AS FOLLOWS:
SECTION 1. The "Development Agreement between the Town of Marana and Legacy
Apartments at Dove Mountain, L.L.C., providing for Deferral of Park. Development Impact Fees" 1
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attached to and incorporated by this reference in this resolution as Exhibit A and referred to ~~
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elsewhere in this resolution as the "Legacy Apartments Development Agreement" is hereby
approved, and the Mayor is hereby authorized and directed to execute it for and on behalf of the ~'~
Town of Marana. 1
SECTION 2. The various Town officers and employees are authorized and directed to
perform all acts necessary or desirable to give effect to this resolution.
Marana Resolution No. 2010-39 - 1 - {00020528.DOC /}
PASSED AND ADOPTED BY THE MAYOR AND COUNCIL OF THE TOWN OF
MARANA, ARIZONA, this 20th day of April, 2010.
Mayor d onea
ATTEST:
o lyn C. onson, Town Clerk
APPROVED AS TO FORM:
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Er~'ank Cassidy, Town Atto ey
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Marana Resolution No. 2010-39 - 2 - {00020528.DOC /}
F. ANN RODRIGUEZ, RECORDER DOCKET: 13803
RECORDED BY: JCC PAGE: 1369
pF PI
DEPUTY RECORDER ~y ~ ~q N0. OF PAGES: 10
0305 PE6-4351 ~~ ~~o SEQUENCE: 20100870396
Sip' w~ ~~ I~~Z 05/06/2010
TOWN OF MARANA ~N~ ~ ~~" ~ ~ AG 15:4 5
ATTN: TOWN CLERK `9I\1\\IZ013¢'
11555 W CIVIC CENTER DR III,
MARANA AZ 85653 AMOUNT PAID $ 10.50
DEVELOPMENT AGREEMENT BETWEEN THE TOWN OF MARANA
AND LEGACY APARTMENTS AT DOVE MOUNTAIN, L.L.C., PROVIDING
FOR DEFERRAL OF PARK DEVELOPMENT IMPACT FEES
THIS DEVELOPMENT AGREEMENT ("Agreement") made and entered into this Z-~H
day of ~ P R { L , 2010, by and between the Town of Marana, an Arizona Municipal
Corporation (the "Town"), and Legacy Apartments at Dove Mountain, L.L.C. an Arizona limited
liability company, (hereinafter referred to as "Legacy").
RECITALS
The following recitals are incorporated by reference into and constitute an integral part of this
Agreement.
A. WHEREAS, Legacy is the developer of the Legacy Apartments at Dove Mountain,
located in Marana, AZ, as more fully described in a Development Plan approved by the Town of
Marana on August 20, 2009, DPR-09026, whereupon Legacy intends to develop and construct a
168-unit apartment complex.
B. WHEREAS, Legacy owes park development impact fees to the Town of Marana for the
development of the Apartments, such fees ordinarily due and payable at time of permit issuance
for the future development of such park improvements.
G WHEREAS, it is the interest of the Town of Marana to support the economic
development of residential apartment dwelling units in Dove Mountain, jurisdiction within the
Town of Marana.
D. WHEREAS, this Agreement is entered into by authority of A.R.S. § 9-500.5, the Town
finding that the consideration and commitments herein from and to Legacy and the Town are
justified based on other consideration provided hereby, including without limitation the
economic benefits to the community resulting from this Agreement.
E. WHEREAS, A.R.S. § 9-463.05(B)(3) provides that park- development impact fees
associated with the construction of residential dwelling units may be deferred as specified in a
development agreement executed pursuant to A.R.S. § 9-500.05, so long as the deferred fees
shall be paid no later than fifteen (15) days after the issuance of a certificate of occupancy and so
long as the value of the fees is supported by appropriate security.
NOW, THEREFORE, in consideration of the promises and mutual obligations
contained herein, the Town and Legacy agree to proceed under the following terms and
conditions:
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DEVELOPMENT AGREEMENT BETWEEN THE TOWN OF MARANA AND
LEGACY APARTMENTS AT DOVE MOUNTAIN, L.L.C.
Page - 2
1. LEGACY OBLIGATIONS
1.1 Payment Amount and Dates. On or before the date that Legacy secures, and the Town
issues permits for the construction of the 168-unit Legacy Apartments at Dove Mountain
complex, Legacy shall pay Thirty Two Thousand Dollars ($32,000.00) toward park impact fees
owed, and is hereby granted authority to defer payment of remaining park development impact
fees in the amount of Three Hundred Thousand Dollars ($300,000.00), as further described in
Sections 1.3 and 2.1, below:
1.2 Security. Payment of development impact fees that shall be deferred as provided in
Sections 1.3 and 2.1 of this Agreement shall be supported by appropriate security, including a
surety bond, letter of credit or cash bond, pursuant to A.R.S. § 9-463.05(B)(3). Acceptable
security shall be provided to the Town of Marana ten (10) days prior to issuance of the Building
Permits.
1.3 Payment of Deferred Development Impact Fees. Legacy shall pay in full any and all park
development impact fees for the development that are deferred pursuant to Section 2.1, below,
and as more fully described in Exhibit "A", attached hereto, on or within 15 days of the issuance
of a "Certificate of Completion" or "Certificate of Occupancy" for each respective twelve and
sixteen unit buildings completed. The initial payment of $32,000.00 shall be applied and
credited toward the amount owed for the initial twelve and sixteen unit buildings completed.
1.4 Legacy shall be responsible for payment of any filing fees associated with the recording
of this document with the Pima County Recorder.
LS Legacy shall pay permit fees associated with construction, electrical, mechanical, and
plumbing inspections prior to issuance of the project's permits in the amounts that are set forth in
Exhibit A.
2. OBLIGATIONS OF THE TOWN
2.1 The Town agrees to defer collection of Legacy's park development impact fees, for
development within the Property, as set forth in Section 1.3, above, subject to Legacy's
satisfaction of all of the terms and conditions set forth in Sections 1.1 through 1.5, above. The ~F'
development impact fees eligible for deferral under this Agreement are the Town's park
development impact fees. Legacy is not subject to or required to pay the Marana Northeast',
Transportation Impact Fees.
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DEVELOPMENT AGREEMENT BETWEEN THE TOWN OF MARANA AND
LEGACY APARTMENTS AT DOVE MOUNTAIN, L.L.C.
Page - 3
3. DEFAULT
3.1 A party shall be in default under this Agreement if it fails to perform, in material respect,
any covenants made by it or obligations assumed by it under this Agreement, which failure
adversely affects the other party's interest under this Agreement, and in such an event, each party
shall be entitled to all available legal and equitable remedies, including, but not limited to, the
right of specific performance, including all costs of enforcement of this Agreement, with
reasonable attorneys' fees paid to the prevailing party.
4. MISCELLANEOUS PROVISIONS
4.1 This Agreement constitutes the entire agreement and understanding of the parties hereto
and supersedes all offers, negotiations, and other agreements of any kind. This Agreement may
be amended only in writing and signed by both parties. This Agreement and all the covenants,
terms and provisions contained herein shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns.
4.2 This Agreement is and shall constitute a contract under and is to be construed in
accordance with the laws of the State of Arizona.
4.3 This Agreement may be executed in one or more counterparts, each of which shall have
the force and effect of an original, and all of which shall constitute but one document.
4.4 All notices required to be given under this Agreement shall be deemed given upon the
earlier of actual receipt or two (2) days after being mailed by registered or certified mail, return
receipts requested, addressed as follows:
If to Town:
Gilbert Davidson
Town Manager
Town of Marana
11555 West Civic Center Drive
Marana, AZ 85653
With a copy to:
Frank Cassidy
Town Attorney
Town of Marana
11555 West Civic Center Drive
Marana, AZ 85653
DEVELOPMENT AGREEMENT BETWEEN THE TOWN OF MARANA AND
LEGACY APARTMENTS AT DOVE MOUNTAIN, L.L.C.
Page - 4
If to Legacy:
Scott F. Lundberg
Manager of Legacy Apartments at Dove Mountain, L.L.C.
500 John Street
Seattle, WA 98109-5013
4.5 Time is of the essence and a material provision of this Agreement.
DEVELOPMENT AGREEMENT BETWEEN THE TOWN OF MARANA AND
LEGACY APARTMENTS AT DOVE MOUNTAIN, L.L.C.
Page - 5
IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year
first above written.
TOWN OF MARANA
An Arizona Municipal Corporation
By: C
Mayo Ed Honea
Dated: ~ - ZO - ~ U
ATTEST:
J elyn C. Bronson, Town Clerk
Dated: 7 = ~-D - /U
APPROVED AS TO FORM:
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rank ssidy, City orney
Dated: ~° ~~' ~ C~
DEVELOPMENT AGREEMENT BETWEEN THE TOWN OF MARANA AND
LEGACY APARTMENTS AT DOVE MOUNTAIN, L.L.C.
Page - 6
LEGACY APARTMENTS AT DOVE
MOUNTAIN, L.L.C., by its Managers
By
By
By:
Brian J. Peschel
Dated: ~ a~;, ~ ~ `1 , ~ ~ t7
STATE OF WASHINGTON
SS
County of ~i ~' )
S co Tl F LuA~ berg
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The foregoing instrument was acknowledged before me on by ~~;,,~ ~csci.cC. ,
manager of Legacy Apartments at Dove Mountain, L.L.C., an Arizona limited liability company,
on behalf of the LLC.
My commission expires: hl ~~.~~/a
L%n~ - PATRlCIA M. CLANTON
~ C-l~t~~lTy--~ STATE OF WASHINGTON
Notary Public i C
MY COMMISSION EXPIRES
10-09-10
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DEVELOPMENT AGREEMENT BETWEEN THE TOWN OF MARANA AND
LEGACY APARTMENTS AT DOVE MOUNTAIN, L.L.C.
Page - 7
MARANA
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legacy Apartment Permit Fees
tees py unit ~ ype
Description Fee Type Fee Amount
16-Unit Livable Construction Fee $7,225.70
Electrical Fee $1,806.43
Mechanical Fee $1,806.43
Plumbing Fee $1,806.43
Park Impact Fee $31,188.00
Total Each 16-Unit: $43,832.99
12-Unit Livable Construction Fee $6,086.90
Electrical Fee $1,521.73
Mechanical Fee $1,521.73
Plumbing Fee $1,521.73
Park Impact Fee $24,146.00
Total Each 12-Unit: $34,798.09
Recreation/Office Construction Fee $2,981.75
Electrical Fee $745.44
Mechanical Fee $745.44
Plumbing Fee $745.44
- ---- Total Recreation/Office: -- - -------- ----$5,218_07
16-Car Garage Construction Fee $1,514.55
Electrical Fee $378.64
Mechanical Fee $378.64
Plumbing Fee $378.64
----------_-------Total 16-Car Gara~e~-_-M----------------
---------------- --~$2,65fl.47
- -
6-Car Garage Construction Fee $685.75
Electrical Fee $171.44
Mechanical Fee $171.44
Plumbing Fee $171.44
_____________ __ __ Tota# fi_Car Garage: $1_200 07
4-Car Garage Construction Fee $532.40
Electrical Fee $133.10
Mechanical Fee $133.10
Plumbing Fee $133.10
----------------------------------- -Total 4_Car Garage_- --_°-_--------------- ------$931.70
EXHIBIT A
DEVF,LOPMENT AGREEMENT BETWEEN THE TOWN OF MARANA AND
LEGACY APARTMENTS AT DOVE MOUNTAIN, L.L.C.
Page - 8
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MARANA
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Legacy Apartment Permit Fees
Total Permit Fees
0-045
6-Car
Livable
ble
Total Permit Fees (with impa
-------------------------------------------
Minus Plan Check Fees F
Total Fees Still Due:
EXNIBlT A
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