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Item 4BItem 4B CITY OF SOUTH LAKE MEMORANDUM (September 16, 2014) To: Shana Yelverton, City Manager From: Robert H. Price, P.E., Director of Public Works Subject: Approve Residential Developer Agreement with Maguire Partners -Solana Land, L.P. for the Southlake Meadows Addition Phase 1 Action Requested: Approve a Residential Developer Agreement (RDA) with Maguire Partners -Solana Land, L.P. for the Southlake Meadows Addition Phase 1. Background Information: Maguire Partners -Solana Land, L.P. ("Developer") is developing the Southlake Meadows addition within the City of Southlake. The development will be located at the northeast corner of Sam School Road and Dove Road. The addition consists of 56.83 acres and will included 96 residential lots. Phase 1 and 2 consists of 60 lots and 36 lots, respectively. The Developer currently plans to build Phase 1 of the addition along with the Dove Road, Sam School Road and N. Peytonville Avenue roundabout ("Roundabout"). By constructing the Roundabout concurrently with the addition, the City of Southlake ("City") will be able to improve mobility within this sector of the City. This project was approved by the City Council on March 5, 2013 under CP12-004, Land Use Plan Amendment and ZA12-088, Zoning Change and Development Plan. The Developer of the Southlake Meadows addition offered to construct the roundabout as part of his development in order to accelerate this planned Capital Improvement Project. This residential Developer agreement will outline the terms of this public/private partnership where the Developer will pay for the paving within the Roundabout and the City will reimburse an amount not to exceed $710,502, based on the construction cost estimate provided by the Developer. The Developer is also requesting additional reimbursement from the City for the right of way acquisition in the amount not to exceed $159,695. Page 1 of 5 Item 4B The total amount not to exceed for this request is $870,197. The City Council approved $815,000 for the Roundabout in the Capital Improvements Project Budget in prior years. This cost included the engineering design fee and construction of the Roundabout. The budgeted amount did not include right of way acquisition. ROUNDABOUT PARTICIPATION The Developer is proposing to install $6.2 million of public improvements with the Southlake Meadows addition. As part of the public/private partnership the Developer has requested that the City participate in the following costs associated with the construction of the Roundabout: Water/Sewer/Drainage $306,363 Paving, Erosion Control, Retaining Walls, Excavation $272,967 Engineering Design $131,712 Total Cost for Public Improvements $710,502 The Developer is contributing $336,809 toward the public paving cost of the roundabout. RIGHT OF WAY ACQUISITION The Developer has negotiated and acquired the right of way needed for the Roundabout and is requesting that the City participate in these costs. The planned Roundabout required additional right of way to be obtained at this intersection. Three property owners at the intersection are impacted by the construction of the Roundabout. As part of the negotiations, the Developer agreed to fund the relocation of amenities within these properties in exchange for the right of way. This partnership with the Developer results in a considerable savings to the City in right of way acquisition costs. The Developer has requested City participation in the following costs for right of way: Glosser Property (1170 W. Dove Rd.) — 0.163 Acre A portion of the existing commercial driveway and parking lot is located within the 0.163 acre of right of way acquisition. The property owner requested a new concrete parking lot and driveway, installation of a sanitary sewer service and demolition of the septic tank, a slide gate with opener and electrical work. The total cost for these improvements is $204,051. Page 2 of 5 Item 4B Colvin Property (2280 N. Peytonville) Additional right of way is not required at this property but it is still impacted by the Roundabout. The property owner requested the relocation of a driveway, landscape and irrigation restoration, screen walls and new slider gates. The total cost for the improvements is $144,579. Avary Property (1075 W. Dove Rd.) — 0.032 Acre The property owner requested relocating the pond equipment and water well located within the 0.032 acre required for right of way. The property owner also requested the restoration of the landscaping and irrigation, a new driveway, and demolition of the existing columns and fence. The total cost for this acquisition is $254,229. Right of Way Acquisition Total City Developer Cost Glosser Property $204,051 $96,995 $107,056 1170 W. Dove Rd. Colvin Property $144,579 $0 $144,579 2280 N. Pe tonville Ave. Avary Property $254,229 $62,700 $191,529 1075 W. Dove Rd. Engineering & Exhibits $48,288 RIGHT OF WAY $602,859 $159,695 $491,452 ACQUISITION TOTAL: SUMMARY OF COSTS The Developer is requesting a total of $870,197 for the construction of the public improvements and participation in the right of way acquisition costs of the Roundabout. Below is a summary of the costs: Total Cost City Developer Public Improvements $5,611,820 $710,502 $4,901,318 of Way Acq uisition $651,147 $159,695 $491,452 -Right GRAND TOTAL: $6,262,961 $870,197 13.9% $5,392,770 86.1 % OTHER CONSIDERATIONS The Developer has requested that the City allow a temporary closing of Sam School Road for the purpose of constructing the portion of the roadway associated with the construction of the Roundabout. This section of roadway will be realigned to the west where it will intersect with the Roundabout. The Developer will Page 3 of 5 Item 4B make a good faith effort to complete the necessary work within 120 working days. The closure will decrease the duration of the work in this area and allow for a safer work zone. The Developer is requesting 9 residential lots out of the 60 to be released after the installation of the public improvements. The typical amount of lots to be released per the standard residential developer agreement is 10%, or 6 lots in this case. The Developer is also the constructing the Gateway Lakes addition and is requesting reimbursement of the park fees for this development. The Developer will install $174,000 of park amenities in the Gateway Lakes park. At the October 14, 2013 Parks Board Meeting the Developer presented the Gateway Lakes park plan along with the Southlake Meadows park plan. The park fees for Southlake Meadows are $174,000 and the Developer requested that these park fees be used for the park improvements of the Gateway Lakes park. City Council approved this request which was included in the Gateway Lakes Residential Developer Agreement on September 2, 2014. The Developer is installing $174,000 in park amenities at Gateway Lakes and therefore requesting a reimbursement of the park fees in the Southlake Meadows Residential Developer Agreement. The park fees for the Southlake Meadows addition Phase 1 and 2 have been paid with this agreement. Financial Considerations: Funding for the design, construction and right of way acquisition for the Dove Road, Sam School Road and N. Peytonville Avenue roundabout has been allocated in the General Fund and Storm Water Utility System (SWUS) Fund in the amount of $815,000. The funding included the engineering design fee and construction costs for the Roundabout. Additional funding for the remainder is available in the SWUS Fund. The CIP budgeted amount did not include right of way acquisition. This partnership with the Developer may result in a considerable savings to the City. Citizen Input/ Board Review: N/A Legal Review: Staff and City Attorney conducted various discussions to determine which mechanism was applicable for reimbursing the Developer for the public improvement costs associated with this Development. A Page 4 of 5