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HomeMy WebLinkAboutResolution 2007-071 first amendment to development agreement for impact fee credits for gladden farmsF. ANN RODRIGUEZ, RECORDER DOCKET: 13063 RECORDED BY: C V oy PI4 PAGE: 4222 DEPUTY RECORDER 4 NO. OF PAGES: 3 1016 PE3 SEQUENCE: 20071020796 SMARA 14 ':4 05/25/2007 TOWN OF 1??A RES 16:45 ATTN: TOWN CLERK 1z 11555 W CIVIC CENTER DR MAIL MARANA AZ 85653 AMOUNT PAID $ 8.00 MARANA RESOLaiON NO. 2007-71 RELATING TO DEVELOPMENT; APPROVING AND AUTHORIZING THE EXECUTION OF THE FIRST AMENDMENT TO THE DEVELOPMENT AGREEMENT REGARDING DEVELOPMENT IMIPACT FEE CREDITS FOR GLADDEN FARMS, AND DECLARING AN EMERGENCY WHEREAS, the Town of Marana has adopted various development impact fees to address demand upon the existing public infrastructure and parks in the region; and, WHEREAS, Arizona Revised Statutes, § 9-463.05 requires that developer dedications and improvements shall be considered for credit against applicable impact fees; and, WHERAS, the Town and Developer of Gladden Farms have previously entered into a development agreement for the purposes of identifying credits against the applicable impact fees; and, WHEREAS, the recently formed Tangerine Farms Improvement District will contribute needed improvements that are creditable against the Northwest Marana Transportation Benefit Area impact fee liability for Gladden Farms, Blocks 1, 7, 8, 9, 13, 15, 16, 19, 22, 24 and 25; and, WHEREAS, the Developer of Gladden Farms has expended more on the improvement of the Gladden Farms Park than was credited in the original development agreement. NOW, THEREFORE, BE IT RESOLVED by the Mayor and Council ofthe Town of Marana, Arizona, approving and authorizing the Mayor to execute the First Amendment to the Development Agreement regarding development impact fee credits for Gladden Farms. IT IS FURTHER RESOLVED that the Town Manager and staff are hereby directed and authorized to undertake all other and further tasks required or beneficial to carry out the terms, obligations, conditions and objectives of the agreement. Marana, Arizona Resolution No. 2007-71 Page I of 2 PASSED and ADOPTED by the Mayor and Council this I" day of May, 2007. ATTEST: % eelryn Br son Cl wn lelt of the Town of M ana, Arizona, May;r EA Honga Marana, Arizona Resolution No. 2007-71 Page 2 of 2 APPROVED AS TO FORM: Exhibit A to Marana Resolution No. 2007-71, entitled Town of Marana First Amendment to the Development Agreement Regarding Development Impact Fee Credits for Gladden Farms was recorded on May 25, 2007 at Docket Page in the office of the Pima County Recorder. F. ANN RODRIGUEZ, RECORDER DOCKET: RECORDED BY: C V P1 PAGE: DEPUTY RECORDER NO. OF PAGES: 1016 PE3 SEQUENCE: SMARA TOWN OF IV?A AAG ATTN: TOWN CLERK 4 t- 1z 11555 W CIVIC CENTER DR MAIL MARANA AZ 85653 AMOUNT PAID TOWN OF MARANA FIRST AMENDMENT TO THE DEVELOPMENT AGREEMENT REGARDING DEVELOPMENT IMPACT FEE CREDITS FOR GLADDEN FARMS 13063 4225 6 20071020797 05/25/2007 16:45 $ 8.50 THis AGREEMENT (this "Agreetnent' ') is entered into by and between the TowN OF MARANA, an Arizona municipal corporation (the "Town"), and GLADDEN FOREST LLC, an Arizona limited liability company and FIDELITY NATIONAL TITLE AGENCY, INC., an Arizona corporation, as trustee under Trust No. 30,212 and STANDARD PACIFIC HOMES OF TucsoN, INC., a Delaware corporation and TITLE SEcuRny TRuST OF ARIZONA, an Arizona corporation, as trustee under Trust No. 988 (all four of them, collectively, are referred to as 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." REcmu A. This Agreement is entered into and authorized pursuant to A.R.S. § 9-500.05. B. The Town has adopted certain development impact fees for roads and regional parks pursuant to A.R.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 55 of Maps and Plats, Page 60 ("Gladden Farms"). D. The Developer is entitled to credit pursuant to A.R.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 Gladden Farms. E. The Parties have previously executed an agreement identifying credits for public im- provements, approved by the Marana Town Council on July 19, 2005, and is recorded in the Pima County Recorder's office at Dkt. 1 " S , Page (_0_C_3,q F. Additional transportation improvements are being constructed by the Tangerine Farms Road Improvement District, of which Gladden Farms, Blocks 1, 7, 8, 9, 13, 15, 16, 19, 22, 24 & 25 are a part. These improvements are creditable against the Northwest Marana Transportation Benefit Area impact fee. {00000968. DOC /} - I - V_ G. The Parties desire to memorialize their agreement concerning the amount of the de- velopment impact fee credit against the Northwest Marana Transportation Benefit Area impact fee applicable to Blocks 1, 7, 8, 9, 13, 15, 16, 19, 22, 24, and 25 of Gladden Farms. H. The Developer has constructed substantial public park improvements (Gladden Farms Park) which have been dedicated to the Town, all of which is creditable against the Parks Benefit Area impact fee. I. The Developer has expended a greater amount in the development of the Gladden Farms Park than was proposed in the previously executed agreement identifying credits for pub- lic improvements identified in section E. J. The Parties desire to memorialize their agreement concerning the revised amount of the development impact fee credit against the Parks Benefit Area impact fee as a result of in- creased costs to the Developer. AGREEmENT Now, THEREFORE, in consideration of the foregoing premises and the mutual covenants set forth in this Agreement, the Parties hereby agree as follows: 1. Credit toward arterial roadway development impact fees. 1. 1. Previously identified credits. The credit previously identified for the Northwest Marana Transportation Benefit Area development impact fee provided by the Developer to the Town in connection with the development of Gladden Farms, w ? $4,168 per lot. 1.2. Total lots. The total number of residential lots which are within the Tangerine Farms Road Improvement District and are anticipated to be constructed in connection with the devel- opment of Gladden Farms, Blocks 1, 7, 8, 9, 13, 15, 16, 19, 22, 24 & 25 is 649. 1.3. Credit per lot. The credit against arterial roadway development impact fees for those Blocks within the Tangerine Farms Road Improvement District is 4,544 per lot. The total credit for Gladden Farms, Blocks 1, 7, 8, 9, 13, 15, 16, 19, 22, 24 & 25 against the Northwest Marana Transportation Benefit Area development impact fee is $8,712. 1.4. Current fee. As of the date of this Agreement, the Northwest Marana Transportation Benefit Area development impact fee is $6,237. The Northwest Marana Transportation Benefit Area development impact fee credit exceeds the impact fee, therefore no fee is to be collected for Gladden Farms, Blocks 1, 7, 8, 9, 13, 15, 16, 19, 22, 24 & 25. 1.5. Future fee revisions. If the Town amends its Northwest Marana Transportation Benefit Area development impact fee applicable to Gladden Farms, Blocks 1, 7, 8, 9, 13, 15, 16, 19, 22, 24 & 25 the fee per lot shall be the then-applicable fee minus $8,712. 1.6. Actual construction and dedication as condition of credit. The credit against arterial roadway development impact fees calculated in accordance with this paragraph I shall apply only to the extent the arterial roadway construction and dedication has been completed or is in progress to the reasonable satisfaction of the Town. {00000968.DOC /) -2- 2. Credit toward regional park development impact fees. 2. 1. Previously Identified Credit. The value of regional parks provided by the Developer to the Town in connection with the development of Gladden Fanns, including the value of any and all regional park lands conveyed to the Town and any and all allowable regional park construc- tion costs, was identified as $3,764,100, or $2,162 per lot against the park development impact fee for Gladden Farms. 2.2. Total value. The total value of regional parks provided by the Developer to the Town in connection with the development of Gladden Farms, based upon actual completed costs, includ- ing the value of any and all regional park lands conveyed to the Town and any and all allowable regional park construction costs, is $4,5 51,8 10. 2.3. Total lots. The total number of residential lots anticipated to be constructed in connec- tion with the development of Gladden Farms is 1741. 2.4. Credit per lot. The credit against regional park development impact fees is $2,614 per lot, for all remaining residential lots within the Gladden Farms development for which a building permit has not yet been issued. 2.5. Currentfee. As of the date of this Agreement, the Town's regional park development impact fee that would apply to Gladden Farms before the credit is $3,028. Subtracting the $2,614 credit, the current park development impact fee for Gladden Farms is $414 per lot. 2.6. Futurefee revisions. If the Town amends its park development fee applicable to Gladden Farms, the fee per lot shall be the then-applicable fee minus $2,614. 3. Miscellaneous 3. 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. 3.2. 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. 2 ?00000968.DOC /) -3- IN WITNESS WHEREOF, the Parties have executed this Agreement as of the last date set forth below their respective signatures. TOWN: DEVELOPER: THE TowN OF MARANA, an Arizona municipal GLADDEN FOREST LLC, an Arizona limited corporation liability company By: By: FOREST CITY LAND GRoup, INc., and Ohio corporation, its managing member Ed Honea, M40r Date: B Dean Wingert, Se i opvlce President Date: -5-,//-07 AT-rEST: FIDELITY NATioNAL TITLE AGENCY, INC., an Arizona corporation, as trustee under Trust No. 3 0,2 / -OWA Y ^(? 1YW- 0;PWe&1Af-- By: Date: 7 STANDARD PACIFIC HOMES OF TucsoN, INC., an Arizona limited liability company corporation By: I'- Z, , " ?/"? , , /, I its X ?L? Date: C) TITLE SECURITY TRuST Arizona corporation, as i No.988, only and not capacity By: Diane L. Sloane . its Date: Mav 18, 2007 {00000968.DOC /I -4- OF ARIZONA, an Tustee under Trust in it's corporate ?W-, - Trust Officer ??l C.?411 -% &-,? ? ? - elyn C.1ronson, Clerk STATE OF ARIZONA ss County of Pima The foregoing instrument was acknowledged before me on HXA 14j_,D _-T by Dean Wingert, Senior Vice President of Forest City Land Group, Inc, ?n Ohio corporation, man- aging member of Gladden Forest, L.L.C., an Arizona limited liability company, on behalf of the L.L.C. VC r-) Lw 11 My commission expires: Not KELLY PENUELA Notary Public - Arizon-1, 1 LUM PWACQU MyComfmionSpires io 01MEMBER -18: 0nA0 I STATE OF ARIZONA ss County of Pima The foregoing instrument was acknowledged before me on , ";) 9, by /_ ///a- , of FIDELITY NATIONAL TITLE AGENCY, INC., an Arizona corporation, as trustee of Trust No. 30,212, on behalf of the trust. My commission expires: -TZI, C? STATE OF ARIZONA ss County of Pima The ore.?oing instrument was acknowledged before me on - A? 4,-, ? (0 ? by ?o,,k p, ikAAQ , \) f of Standard Pacific Homes, a DelawPe corporation, on behalf of the corporation. I My commission expires: ?.__ 0) , ? Notary Public j )INA M. GRAY _:v Public - Arizono F-,a County irnission Expires 100000968.DOC /} 5 STATE OF ARIZONA ss County of Pima The foregoing instrument was acknowledged before me on may 18, 2007 by Diane L. Sloane Trust officer of TITLE SECURITY TRUST OF ARIZONA, an Arizona corporation, as trustee of Trust No. 988, on behalf of the trust. My commission expires: I seal py PUBLIC OF ARIZONA of Pima R ( - /?.' - M E N U Ey M Commi sior ' e,?ember 27,2ON (00000968.DOC /)