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Home My WebLink AboutC2013-057 - 2/12/2013 - ApprovedDeferment Agreement Between 15T Investments, LLC and the City Page 1 of 9 Coca r 2_11 3 0 If I7452 1 DEFERMENT AGREEMEW/�. 2n5 PM official Recopd= of STATE OF TEXAS € IJECES COUNTY § DIANA `1 , I ARRERA § COUNTY CLERK COUNTY OF NUECES § Fees $63 .00 This Agreement is entered into between the City of Corpus Christi, Texas, a Texas home rule municipality, (hereinafter "City ") and 15T Investments, LLC, (hereinafter "Developer/Owner'), and pertains to deferral of the required completion of certain required improvements prior to filing the final plat of Airport Industrial Subdivision, Block 13, Lot 2 (the "plat "), which was approved by the Planning Commission on July 18, 2012. A copy of the plat is attached and incorporated as Exhibit 1. WHEREAS, the Developer /Owner is obligated under Section 8.1.11, of the Unified Development Code to construct seventy -five percent (75 %) of the required improvements, before the final plat is endorsed by the City Engineer. Detailed construction drawings must be provided by the Developer /Owner and approved by the City's Departments of Development Services and Engineering prior to the start of construction; WHEREAS, the Developer /Owner is seeking to defer, for a period up to five (5) years, the construction of the wastewater and water improvements (hereinafter the "deferred improvements "), as shown in Exhibit 2, and further, on December 19, 2012, the Planning Commission made a finding that there exists probable cause to delay the completion of public improvements, in accordance with 8.1.10.13 of the Unified Development Code; WHEREAS, the Developer /Owner is seeking to have the plat filed immediately with the County Clerk of Nueces County, Texas, before completion of seventy -five percent (75 %) of the required improvements as required by Section 8.1.11 of the Unified Development Code; WHEREAS, the Developer /Owner will deposit, with the City! an irrevocable letter of credit in, the amount of Two Hundred Twenty -One Thousand Eight Hundred Forty -Six and 54/100 Dollars ($221,846.54), representing 110% of the estimated cost of constructing the deferred improvements, all as shown on the attached cost estimate, which is attached and incorporated as Exhibit 3; WHEREAS, the City Attorney and Director of Finance have approved this transaction; WHEREAS, the Developer /Owner has completed all other subdivision requirements, park dedications, park deferment agreements, and maintenance agreements and all special covenants; WHEREAS, the Developer /Owner is entering into this Deferment Agreement as required by Section 8.1.10.6. of the Unified Development Code; NOW, THEREFORE, for the consideration set forth hereinafter, the City and NPveloner /Owner agree as follows: 2013 -057 2/12/13 M2013 - 027 AGREEMENTSSAIRPORT INDUSTRIAL SUBDIVISION, BLOCK 13, LOT 15T Investments LLC INDEXED Deferment Agreement Between 15T Investments, LLC and the City Page 2 of 9 1. The City shall waive the requirement that construction of the deferred improvements be completed before the final plat is endorsed by the City Engineer and filed for record with the County Clerk of Nueces County and further agrees to allow the Developer /Owner to defer construction of the deferred improvements as shown in Exhibit 2, for up to five (5) years year from the date of this Deferment Agreement. 2. The Developer /Owner agrees to deposit Two Hundred Twenty -One Thousand Eight Hundred Forty -Six and 54/100 Dollars ($221,846.54), in the form of an irrevocable letter of credit issued by a bank with offices in Corpus Christi, TX, for 110% of the estimated cost of constructing the required improvements, as shown in Exhibit 3, which is attached to and incorporated into this Agreement, with the City of Corpus Christi on or before the plat is filed with the County Clerk, and if the deposit is not made by that time this Agreement shall become null and void. The form of the letter of credit must be approved by the City's Director of Financial Services. 3. The Developer /Owner shall construct the deferred improvements, in accordance with the City's engineering standards in effect at the time of construction. 4. Upon completion of the deferred improvements by Developer /Owner within five (5) years from the date of this Agreement, or later time as may be mutually agreed upon in writing by both parties, and upon acceptance of the deferred improvements by the City Engineer and upon compliance by the Developer /Owner with the remaining terms of the Deferment Agreement, the City Engineer shall: a. Immediately release Developer /Owner from the obligations to construct the deferred improvements by mailing a Release Letter to: Developer /Owner: 15T Investments, LLC P.O. Box 261037 Corpus Christi, Texas 78406 b. Return to the Developer /Owner within sixty (60) days of the completion of the construction of the deferred improvements and settlement of the construction costs, or within sixty (60) days of acceptance of the deferred improvements, whichever is later, any balance remaining of all monies received by the City from the Developer /Owner including any interest earned. 5. If the deferred improvements have not been completed within five (5) years from the date of this Agreement, or if the Developer /Owner fails to deposit any increased security as set out below, after notice to the Developer /Owner and opportunity to cure as stated in Paragraph 9 below, the City will transfer the money received, including any interest earned, to the appropriate City fund and the City may begin completion of the construction of the deferred improvements. If City constructs all or any part of the required improvements, the shall reimburse the City for any additional cost of the deferred improvements, if the K:TEVELOPMENT SERVICESIDEFERMENT AGREEMENTSSAIRPORT INDUSTRIAL SUBDIVISION, BLOCK 13, LOT 2 Deferment Agreement Between 15T Investments, LLC and the City Page 3 of 9 sum of money and interest prove inadequate to complete deferred improvements within thirty (30) days after City completes the required improvements and bills the Developer /Owner. 6. The City and Developer /Owner agree that if the Developer /Owner formally vacates the current plat, with approval of the Planning Commission, prior to the deadline for completion of the construction of the deferred improvements, any money received by the City from the Developer /Owner remaining on deposit, plus interest earned, will be released and immediately returned to the Developer. 7. If Developer /Owner defaults in any of its covenants or obligations under this Deferment Agreement, the City Engineer will send the Developer /Owner and the Project Engineer written notice by certified mail, return receipt requested, advising Developer /Owner of the default and giving Developer /Owner thirty (30) days from date of receipt of the letter to cure the default. If the Developer /Owner fails to cure the default after receipt of the notice and opportunity to cure, the City Engineer may transfer any monies received and interest earned to the appropriate fund of the City to complete the deferred improvements. In the event there are any monies received by the City from the Developer /Owner, plus interest earned, remaining after the City has completed construction of the deferred improvements, the excess monies, both principal and interest, shall be refunded to the Developer /Owner, within sixty (60) days of the completion of construction of the wastewater and water improvements and settlement of construction contracts. 8. The City reserves the right not to issue Certificates of Occupancy for this development until the deferred improvements are installed and accepted by the City Engineer. 9. The Developer /Owner agree that the City, after notice in writing to the Developer /Owner and Project Engineer, may accelerate payment or performance or require additional financial security when the City Engineer deems itself insecure as to the prospect of payment or performance on a demonstrated reasonable basis. 10. The Developer /Owner covenant to construct the deferred improvements, and that this covenant shall be a covenant running with the land. 11. The City Engineer, at Developer /Owner's expense, shall file of record this Deferment Agreement in the records of Nueces County. 12. No party may assign this Deferment Agreement or any rights under this Agreement without the prior written approval of the other party. 13. Unless otherwise stated herein, any notice required or permitted to be given hereunder shall be in writing and may be given by personal delivery, by fax, or by certified mall, and if given personally, by fax or by certified mail, shall be deemed sufficiently given if addressed to the appropriate party at the address noted KADEVELOPMENT SERVICESIDEFERMENT AGREEMENTSIAIRPORT INDUSTRIAL SUBDIVISION, BLOCK 13, LOT 2 Deferment Agreement Between 15T Investments, LLC and the City Page 4 of 9 above the signature of the party. Any parry may, by notice to the other in accord with the provisions of this paragraph, specify a different address or addressee for notice purposes. 14. This Agreement shall be construed under and in accord with the laws of the State of Texas and all obligations of the parties created hereunder are performable in Nueces County, Texas, and all lawsuits pursuant hereto shall be brought in Nueces County, Texas. 15. The Developer /Owner further agrees, in compliance with the City of Corpus Christi Ordinance No. 17113, to complete, as part of this Agreement, the Disclosure of Ownership interests form attached to this Agreement as Exhibit 4. 16. All signatories signing this Agreement warrant and guarantee that they have the authority to act on behalf of the entity represented and make this Agreement binding and enforceable by their signature. 17. This Agreement shall be executed in triplicate, all original copies of which shall be considered one instrument. This Agreement becomes effective and is binding upon, and inures to the benefit of the City and Developer /Owner from and after the date that all original copies have been executed by all signatories. i� R EXECUTED IN Triplicate originals this* 2–V day of — ,2017-, Developer /Owner: 15T Investments, LLC P.O. Box 261037 Corpus 9hristi, Texas 78406 B Steven W. Tipps, Manager THE STATE OF TEXAS § COUNTY OF NUECES § This instrument was acknowledged before me on 2012, by Steven W. Tipps, Manager, of 15T Investments LLC, a Texas Limited Liability Company on behalf of said company. _ Notary Pu lic, Stat of Texas Mel We7S fk 0.11and AuViON V7 8V0 IN!H3H1V3 `'•.d ' � KADEVELOPMENT SERVICESIDEFERMENT AGREEMENTS\AIRPORT INDUSTRIAL SUBDIVISION, BLOCK 13, LOT 2 Deferment Agreement Between 15T Investments, LLC and the City Page 5 of 9 ATTEST: By: Armando Chapa City Secretary CITY OF CORPUS CHRISTI: P. O. Box 9277 Corpus Christi, Texas 78469 Telephone: (361) 880 -3600 Facsimile: 0361) 880 -3601 By: Wes Pierso Assistant Ci anager THE STATE OF TEXAS § COUNTY OF NUECES § This instrument was acknowledged before me on the day of 3 1 by Armando Chapa, City Secretary, for the City Of Corpus Christi, a Texas mu 1 pal corporation, on behalf of the corporation. MONIQUE TAM EZ LERM N try Pu lic, State Of T s Notary Public ; STATE OF TEXAS My Comm. Exp, 01- 23 -2D.17 THE STATE OF TEXAS § COUNTY OF NUECES § !3 This instrument was acknowledged before me on the ay of , 20, by Wes Pierson, Assistant City Manager, for the City Of Corpus Christi, a Tex municipal corporaton, on behof the corporation. c, State Of APPROVED AS TO FORM: This �3 - da of 20� Y , Carlos Valdez, City Attorney k or 7 . A I hUr, BY: x`14 Sw, �• L10 f�jttAssistant City Attorney "'�-- •— �..,,,,�.. C For the City Attorney --� K:IDEVELOPMENT SERVICESIDEFERMENTAGREEMENTSWIRPORT INDUSTRIAL SUBDIVISION, BLOCK 73, LOT 2 MONIQUE TAMEZ LERMA. Notary Pudic ` STATE OF TEXAS °••. My Comm. Exp. 01- 23 -201 7 APPROVED AS TO FORM: This �3 - da of 20� Y , Carlos Valdez, City Attorney k or 7 . A I hUr, BY: x`14 Sw, �• L10 f�jttAssistant City Attorney "'�-- •— �..,,,,�.. C For the City Attorney --� K:IDEVELOPMENT SERVICESIDEFERMENTAGREEMENTSWIRPORT INDUSTRIAL SUBDIVISION, BLOCK 73, LOT 2 m 2 _W 1 LaaP m,gg I s Qik Wks wna�m Q,NG om, u�p ;m R� J� Q ^ � Y F M LAM m Z � U m -pt-- " F. rn J ° Ll Q.7 0 a- R p A K f37 Q � N8B ° 19'07'[ 118, 08' 0 4�w a �yg .Fl Ld 7 nI (n I S'UE nG' VnipLINE EASEIIFIITrf — — LL see* 29' 23 w — — 334.25' FAG! ➢LOCkS, ALRCN 3, ° AIRPORT INDUSTRIAL SB I SunolvlslPN, au: 59- IE R.. Da ISM" LET 1, v. GN, P. 193, FWINOATION H0. o so' loo' 2w' SCALED 1•= ICU' 5IATE GY lem E Rg1pRy OF GUFCES g STATE OF IUriS § IV, FNNROTEO1 C FRS INC., LIP, REIM CENAY THAT WE ME TIE "CIS OF THE LAND COUNTY GF HI � EHBNACED WIININ ME BOUNDARIES OF THE rMODINO PLAT, SUS A U MECT TO RN IN FAVOR OF TNT WE HAVE IM BAD WD SUNMFAO AND SUBDIADISD AS I, NINON M. WELSH, HEGISiEREn PROFESSIONAL LKND SNRI'EYOR OF BASE A V l SHO'M. THAT STREETS MD EASEMENTS AS SHOWN HAVE ORIN HERETOFORE OEOChTEU, OR IF ENGINCERINC, HEREBY CERTIFY MAT THE FOREGOING FIAT XhIS FREPARM FROM A HOT PRFYOUSLY CCCICAhD, A 13 PL HEREBY ORICA m THE PVEUC USE FMREVS, MD SUTIV VALE ON ME GROUND DOER MY ORECTION, 15 TINE AND CORRELT. rxm Tars PLAT wns LFDE FAR THE IURINgES oe oExRlPnox Mo omlPNlon. IRIS Afi__ DAY OF 'L0__ THIS MH CYIY OF _. 20— NINOM 11. MELSH RFGTSTEHED PROFESSTDNAI. R F LANG SWiVEYBR, TEXAS NUMBER 2211 STATE OF 7dA5 § STATE OF TEXTS g covNn or m= g (AUNTY OF WOODS § Y!E !NAME). H IFy CERTIFY ADY1 WE ME THE n[IS INSIHL &FM WAS ACRNOriE➢GED "raw M HOLDERS OF A HEM ON THE —0 BRACED IVCHIM THE DOUNDARIES OF ME THIS DI MY 01' 2 FOREGOING LM4' AND ART WE MPRDYE ME SUIIONSLpN AND DEOBI FOR AID PURPOSES ANT, CONSIOERAT4N4 RISEN EhPAECI M TMY PUBLIC, IN MIT FOR � THE STATE Dr TEXAS 1TILE STATE DF IEm § MGM EOUHM (N MACES § I. THE SUB1E GT SITE IS IN 7RiC W, AAA OF IUIRBW. MOOING, ACCORDING TO FFHA THIS WSMUMENF WAS AGIUNE'ZIIEOGED BEFORE M IMP. CO}URINIIY PANE. 'MAG4 DIGS P., REVISE➢ dUIY 10, 1955. ----- 2- ME AECEMNG WATER FOR ME STORM WATER RUNOFF FRCLI THIS PROPERTY IS W IRIS AID_ DAY OP 20- 050 CREEK. THE AID HAS NOT CV,SSUFM ME AIUUAVU LIFE USE HE ME OSO CREEK, OUT R 15 RECOCN}EEl] AS AM ETIMMUENTMIY SMSATVE ATI 111E M CREED F0,5 CIBECTLY IMO THE CSO DAY. ME TCrR HAS � SIFIFD THE A9UAlIC LIFE USE FOR ME OSO My a 10CPIIOHAL' AND III IPATENB' 1410 NETARY P1IRLIC. IN AND FOR , I N CATEO]RBED ME RECETORO WATEA M 'IfAFRAFf REEcREATIOY USE'. THE STATE OF 3. 79 BASIS OF DE•RWCS IS THE IDEA EMNxUYY UNE OF THE RDEJEGI SITE, Sr 31'53'E, /5 SHOWN, FROI DAI 20T70I729S, 01 4. THE YARD REGUIRL7GENT. 05 CUMED, IS A RECUIRMEMI OF ME xllY (ODC) ONISM STATE OF TINS § CP PLII OODE AM IS SUWa TO CHANGE AS RE ZLI MY CHANGE CCRNTY Or NIIF.F,ES $ C. IF FIT LOT IS UEY Zl) NINTH REgOb K USFS. COUPLNNCE MM THE PUBLIC OPEN SPACE RECIILAIIONS MU- BE NEOUC ED LIMING THE SUTADNG PERMIT PIVSE. THE FINAL PUT O THE HEREN DESCRIBED FR-0PEMTY WAS MPRWED UY WE 5. SET VT IRON RODS AT ALL COWERS. DEPAETMENT OF DEVELOPMENT SEIMCFS OF THE WN GF <IMPUS CHRISTI. TEXAS Y. MCLSS UNIO sIUE Alman- 44 RUST COMPLY PAIN 1MOOT5 TRAFFlC ACCESS NNIN,EkEHT FIAm REGULATIONS. DEVELOPMENT SU IGEe ENWMCEI 8, UARFF711NCE OF NNE FNIVAIE DE1134JI FUND All EE THE MTON591UU DA THE PAWS" MET. DATE. STATE OF Firm § COUNTY OF NUFCES § 111E f1WM. PLAT DF 'I" HEREIN OCSCR31iE0 PROPEIi[Y IYAS NWFtDVFO GN DF7 W.f OF THE CRY OF COM1� CkW5F. FOOS BY PLANNING CONNLSSIOH. I THIS 1HE_ DAY OF 2C L nTA�s UI 5 RUDY C mK E. AUOY GI }AMK E. VM VLEO:, PE, INY 44 w N STATE Or TEAS § COUHIY OF MUECFS US I, ONtN T. GARRFIV4 CLERK Or BE COUNTY CODfR IN MID (FIR SLAB {'AUNTY. ED HEREBY OFFER 1HAT THE FBNEGONG INSTRUMENT DATED T MY OF 2 MNIH 11 CERRBCATE OF AM3ENIICATION, IIAS EY EF' W OO IVI RED FOR RECORD IN MY IRI nE DAY OF 2E_ MCAT I DN MA P Al O'CLO AL, AND DULY RECORDED TH HAY OF . 2 AT O'CLOC N. W 1HE NIAP REGOH05 OF SND COUNTY W AULUUE . PAG PLANNING CONIMISSICN PLAT OF wAFumTAr NuLNPFR AIRPORT INDUSTRIAL. SUBDIVISION VMaS LEY HAND MD STN OF THE COlfifly COURT IN NIB FOR END COUNTY AT BLOCK S A LOT OFFICE IN C(RFUS CHRISF. NUCCES AUNTY, TEXAS. ME MY AND YEAR LAST WRITTEN. AN E.,154 OGEE TRACT OF LAND, MORE OR LESS, BEING A PORTION OF THE VST BY: OM E -now OF ounI E, J.O. RUSSLL FMH BLOCKS, A UM OF VvmA IS RECORDED IN DEPUTY EL41NA T, FORAM CLEAN YTILUNE 3. PADFS 53, Lv,P RECORn% NUEACES IGUw. ARoMS COUNTY COURT CORPUS CHRIS NUE CES COUNTY, TEXAS NUECFS ODUMY, TERAS BASS & WELSH ENGINEERING LIME PLOTTED 07119112 �P 1 FIRM NCI. F -52, 3654 S. ALAMEFIA ST. SGLLE r = IRE _...._.._ ,. ,,,..._. __... lenun PLOT SCALES SANE sROFr 1 � 1 —_—.Z S, H, 44 - --- -- N86° 23' 54' F 216, 41' 0 m O 2 N BANffARY SEWER AND WATER MPROWEHEN79 AMPOR7 INDUSTMAL SM o MWBOO N B L K 13 L07 2 aov o• ss N 'SITE wI[ Ff 1 N p L 5 k 45 LL 5. H 54 - -- - -- - - - - L -- - L------------ - - - - -- PROP. a- 1 3' i0 .IV ---- __ --------- _ --- I 4 .ux za.. .wr n wwc'i u I C STANDARD- SPSP r1oTPs TRAFFIC CONMol DVRIAG ..45TR0CTION PROP. 1D• PVL 55 LINE •A• B 0.241 PROP. 8' PVC M P I' TO R/V on � m wrK y » ci rsrnc me ans... nn J PC 4IR {+ I PROS. FH �� 3 TO R/ V L P ' a- - �-- - - PREP. 0' PVC VTR - - -- _AL _ ]' TD F /1[ LINE PROP, P IHE A' DC bl ID• Pvc ss •r IL `PRDP. 10'PVG 55 aru rs na oq ran — ~ PROP. ~IO' PVC 55� INE 'A' E 0.26% 'A' e0. 26 LINE Y. on. -._ �u .ssr ara ra.a 8' P rrr Iri w �irix wz ar rrwr�¢aw:r: me rIw ' ��r PROPi v TA 1 a u 6 ESrzun 9:uuaxr �Q ®0� eaoF!IC- —s5 LIUF -a• ucPxo CALL BEFORE YOU DIG! �,� IurAn. <r�� all rn*v�rniar iwr • , . . �,a m�n mna Pas r eciio�''s umomaa�IS •°•"• '•• "°,• d .�n MuRRAY BASS, JR., P.E.,R.P.E& NIXON M. WELSH, P.E.,R.P.L.S. www.basr,- welsh.com 3054 S. ALAMHDA, zip 78404 361 882 - 5521 -- FAX 361 882 -1265 e -mail; murrayjr @aol.com e -mail: nixmw@aol -com SASS & WELSH ENGINEERING Engineering Firm Reg. No- F -52 Surveying Firm Reg. No. 100027 -00 P.O. Box 6397 Corpus Christi, TX 78466-6397 December 20, 2012 AIRPORT INDUSTRIAL SLTBDIMSION, BLOCK 13, LOT 2 PLATTING REQUIRED CONSTRUCITON ITEM I QTY I UNIT I DESCRIPTION UNIT PRICE TOTAL WATER CONSTRUCTION 1 1765 LF 8" PVC C900 $35.60 $62,834.00 2 3 EA 6" X 30" PVC PIPE NIPPLE 165.00 495.00 3 1 EA 8" TAPPING SLEEVE AND 8" TAPPING VALVE 2,150.00 2,150.00 4 6 EA 8" D.I. BEND (90 °) 465.00 2,790.00 5 4 EA 8" Q.I. BEND (45 °) 450.00 1,800.00 6 1 EA 8" D. I. TEE 500.00 500.00 7 3 EA 8" GATE VALVE AND BOX 1,100.00 3,300.00 8 38 LF 12" PVC CASING PIPE 45.00 1,710.00 9 1 EA FIRE HYDRANT ASSEMBLY INCLUDING T, BEND & VALVE 3,500.00 3,500.00 10 1 EA TIE TO EXISITNG LINE 1,326.75 1,326.75 11 1 LS PAVEMENT REPAIR 3,500.00 3 SUBTOTAL WATER CONSTRUCTION $83,905.75 WASTEWATER CONSTRUCTION 1 1375 LF 10" PVC SDR 26 $50.00 $68,750.00 2 4 EA 4' DIAMETER MANHOLE (WATER- TIGHT, CLOSED BOTTOM) 6,350.00 25,400.00 3 1 EA TIE TO EXISTING MANHOLE 2,576.75 2,576.75 4 1060 LF TRENCH SAFETY 1.00 1 060.00 SUBTOTAL WASTEWATER CONSTRUCTION $97,786.75 SUBTOTAL CONSTRUCTION $181,692.50 11% Engineering & Surveying 19,986.18 SUBTOTAL 201,678.68 110% Construction & Engineering $221,846.54 CITY OF CORPUS CHRISTI DISCLOSURE OF INTERESTS City of Corpus Christi ordinance 17112, as amended, requires all persons or firms seeking to do business with the City to provide the following information. Every question must be answered. If the question is not applicable, answer with "NA. FIRST NAME: 15T Investments, LLC STREET: 5901 State Hwy 44 CITY. Corpus Christi ZIP: 73406 FIRM IS: ❑1. Corporation ❑2. Partnership ❑3. Sole Owner ❑4. Association 05. Other Limited Partnershi DISCLOSURE QUESTIONS If additional space is necessary, please use the reverse side of this page or attach separate sheet. 1. State the names of each "employee" of the City of Corpus Christi having an "ownership interest" constituting 3% or more of the ownership in the above named "firm ". Name Job Title and City Department (if known) None None 2. State the names of each "official" of the City of Corpus Christi having an "ownership interest" constituting 3% or more of the ownership in the above named "firm ". Name Title None None 3. State the names of each aboard member" of the City of Corpus Christi having an "ownership interest° constituting 3% or more of the ownership in the above named "firm ". Name Board, Commission, or Committee None None 4. State the names of each employee or officer of a "consultant" for the City of Corpus Christi who worked on any matter related to the subject of this contract and has an "ownership interest" constituting 35 or more of the ownership in the above named "firm "_ Name Consultant None None CERTIFICATE i certify that all information provided is true and correct as of the date of this statement, that I have not knowingly withheld disclosure of any information requested; and that supplemental statements will be promptly submitted to the City of Corpus Christi, Texas as changes occur. Certifying Person: Steven Tipps Member Title: (Type or Print) Signature of Certifying Person: Date: 12/1312D12