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HomeMy WebLinkAbout2023-12-18 I01D_08 Development Agr_Caliber Land Co AGENDA ITEM: CITY OF WAUKEE, IOWA CITY COUNCIL MEETING COMMUNICATION MEETING DATE: December 18, 2023 AGENDA ITEM: Consideration of approval of a Development Agreement with Caliber Land Company, LLC [SE Westown Parkway Improvements] FORMAT: Resolution SYNOPSIS INCLUDING PRO & CON: Caliber Land Company and Kettlestone Central LC are in the process of developing approximately 160 acres along the east side of Grand Prairie Parkway. As a part of the public improvements, SE Westown Parkway is being extended from Grand Prairie Parkway to SE Waco Place. Per City policy, the developer is responsible for construction of up to a three-lane road section. Because of the need to align the intersection of Grand Prairie Parkway and SE Westown Parkway with the existing SE Westown Parkway located west of Grand Prairie Parkway, the City has requested two additional lanes along with a right turn lane at the intersection which then transitions to the required three lane section further to the east. The proposed development agreement recognizes the additional costs associated with the construction of the roadway which are greater than the maximum developer requirements and provides an incentive for the completion of these additional improvements. FISCAL IMPACT INCLUDING COST/BENEFIT ANALYSIS: $300,284.62 COMMISSION/BOARD/COMMITTEE COMMENT: STAFF REVIEW AND COMMENT: Funding for these types of requests are included annually within the City’s Capital Improvement Plan. RECOMMENDATION: ATTACHMENTS: I. Proposed Resolution II. Proposed Development Agreement PREPARED BY: Brad Deets, City Administrator REVIEWED BY: I1D8 THE CITY OF WAUKEE, IOWA RESOLUTION 2023- APPROVING DEVELOPER’S AGREEMENT FOR SE WESTOWN PARKWAY EXTENSION PROJECT [CALIBER LAND COMPANY, LLC] IN THE NAME AND BY THE AUTHORITY OF THE CITY OF WAUKEE, IOWA WHEREAS, the City of Waukee, Dallas County, State of Iowa, is a duly organized Municipal Organization; AND, WHEREAS, Caliber Land Company is in the process of developing property located on the east side of Grand Prairie Parkway which includes the extension of SE Westown Parkway between Grand Prairie Parkway and SE Waco Place; AND WHEREAS, the construction of SE Westown Parkway includes improvements beyond what the typical requirements are for developers at the intersection of Grand Prairie Parkway and SE Westown Parkway and the City believes it is in the best interest of the traveling public that these additional intersection improvements be constructed at this time. NOW THEREFORE BE IT RESOLVED by the City Council of the City of Waukee, Iowa, that the Developer’s Agreement with Caliber Land Company, LLC for the extension of SE Westown Parkway be approved including cost sharing for certain improvements with the City. Passed by the City Council of the City of Waukee, Iowa, and approved this the 18th day of December, 2023. ____________________________ Courtney Clarke, Mayor Attest: ___________________________________ Rebecca D. Schuett, City Clerk RESULTS OF VOTE: AYE NAY ABSENT ABSTAIN Anna Bergman R. Charles Bottenberg Chris Crone Larry R. Lyon Ben Sinclair 1 Prepared by: Brad Deets, City of Waukee, 230 W Hickman Rd, Waukee, Iowa 50263 (515)-978-7899 Return to: City Clerk, City of Waukee, 230 W Hickman Rd, Waukee, Iowa 50263 (515) 978-7904 DEVELOPMENT AGREEMENT This Agreement, entered into among the City of Waukee, an Iowa municipal corporation in the State of Iowa (hereinafter referred to as "City") and Caliber Land Company, LLC, an Iowa Limited Liability Company (hereinafter referred to as "Developer"). WHEREAS, Developer owns property legally described on Exhibit “A” (the “Property”) directly adjacent to Grand Prairie Parkway and seeks to develop its Property as commercial and multifamily residential use; and, WHEREAS, in order to develop the Property, a new street to be known as SE Westown Parkway needs to be constructed which intersects with Grand Prairie Parkway and Developer seeks to construct said road and intersection at their cost, in accordance with applicable design standards and development requirements of the City; and, WHEREAS, Developer is responsible for the initial construction of SE Westown Parkway adjacent to their property which shall include a minimum of a thirty-one (31) foot wide, three-lane street including a left turn lane, at the intersection of SE Westown Parkway and Grand Prairie Parkway; and, WHEREAS, in anticipation of the high traffic volumes expected along Grand Prairie Parkway, the City has requested the need for additional street improvements to SE Westown Parkway, including an additional two (2) lanes of street and a transitional right turn lane at the intersection of Grand Prairie Parkway as generally depicted on Exhibit “B” (the “Improvements”), which are above and beyond the minimum requirements required by the Developer; and, WHEREAS, the City recognizes that it is in the public interest that the Improvements be completed by Developer and the City has proposed an economic incentive to Developer to complete the additional paving and turn lane; and, WHEREAS, Developer has indicated that they will complete the additional street widening and turn lane provided they receive the economic incentive offered by the City; and, WHEREAS, the City and Developer desire to enter into an agreement setting forth the respective obligations of the Parties and the City and the Developer agree as follows: 2 1. Property Dedication. As part of final plat approval, and acceptance of improvements by the City, Developer will dedicate at no cost to the City the property legally described in Exhibit “C”, free and clear of any and all liens or encumbrances, and will provide all necessary documents including, but not limited to, Warranty Deed, Groundwater Hazard Statement and Declaration of Value for the purpose of effectuating the dedication to the City. In addition, all required maintenance bonds shall be provided to the City by Developer. 2. Parties Obligations Relative to Roadway Improvements and Payments. A. Developer agrees to undertake and finance the Improvements depicted in Exhibit “B” in accordance with the plans and specifications, construction drawings approved by the City and requirements imposed by applicable Federal, State and Local authorities. B. Prior to undertaking the Improvements, the Developer shall obtain at least two quotations for the construction of the Improvements, or each separate portion of the Improvements, in a form that identifies each “Item”; “Total”; “Unit”; and “Unit Price”, which the Developer is responsible for financing and undertaking as set forth in Exhibit “D”. The quotations received by the Developer shall be submitted to the City for approval and the City shall have fourteen (14) days to approve or reject the quotation. In the event the City rejects the quotations, Developer shall secure more quotes for the City’s consideration. C. Within thirty (30) days of quote approval by the City, Developer agrees to cause to undertake the Improvements in accordance with the plans and specifications, construction drawings approved by the City and requirements imposed by applicable Federal, State and Local authorities. The Improvements shall be completed by the Private Parties on or before consideration by the City Council of the final acceptance of the Improvement. D. The initial cost of the Improvements shall be borne by Developer. As invoices are received for the Improvements hereunder and are paid by Developer, copies of the same shall be submitted to the City within seven (7) days of receipt and in no event shall any such payment exceed the cost of the quote received and approved by the City to be eligible for partial reimbursement by the City in the manner provided below. E. Upon Developer making payment of all invoices related to the Improvements as identified on Exhibit “B”, Developer shall invoice the City for the City’s share of the total cost of the work, based on the percentages allocated to the City as more particularly set forth in Exhibit “D”. In no event shall the City reimburse an amount greater than $301,000 3 or the City’s share as identified on Exhibit “D” of the quote received and approved by the City, whichever is lower. F. The economic Incentive Payment from the City to Developer, and their successors in interests or assigns if any, shall be paid within 45 days from the Certificate of Completion, and the invoice from Developer, whichever shall last occur. 3. Construction Plans. Any changes to the plans, specifications or construction drawings must be done with the consent of the City. All construction plans are incorporated herein and are made a part hereof. 4. Estimate of Costs. The City and Developer agree that Exhibit D represents an engineer's estimate of the costs of the Improvements contemplated by this Agreement. The Units identified in Exhibit D qualifying for reimbursement under this Agreement are made part of this Agreement and shall be utilized by the Developer and the City in determining the City’s reimbursement amount to the Developer. 5. This Agreement (including all exhibits attached or to be attached to this Agreement by reference), is subject to the prior approval of the City Council of the City of Waukee, as well as the officers or partners of Developer and thereafter all parties shall be bound by this Agreement. A copy of this Agreement shall be recorded and constitute a lien on the Property owned by Developer to assure Developer completion of this Agreement. 6. Binding Effect. This agreement shall inure to the benefit of and be binding upon all parties their successors and interests or assigns, if any. 7. Jurisdiction. The parties agree that this Agreement and amendments hereto, if any, shall be governed by the laws of the State of Iowa. The parties consent and agree that the proper venue and jurisdiction relative to the enforcement of the terms, conditions and provisions of this Agreement and amendments hereto, if any, is the Iowa District Court in and for Dallas County, Iowa. [See Signatures on Following Pages] 4 Dated: ____________________________, 2023 CALIBER LAND COMPANY, LLC an Iowa limited liability company By: Name (Print): Its: ACKNOWLEDGEMENTS STATE OF ______________) )ss. COUNTY OF ____________) On this _____ day of _______________, 2023, before me, the undersigned, a Notary Public in and for said County and State personally appeared ______________________________ of Caliber Land Company, LLC an Iowa limited liability company, to me personally known, who being by me duly sworn, did say that they executed the within and foregoing instrument as their voluntary act and deed. __________________________________________ Notary Public in and for the State of Iowa My Commission expires _________________ 5 CITY OF WAUKEE ____________________________ Courtney Clarke, Mayor Attest: ____________________________ Rebecca D. Schuett, City Clerk STATE OF IOWA ) ) ss COUNTY OF DALLAS ) On this _____ day of __________________, 2023, before me, the undersigned, a Notary Public in and for said County and the State of Iowa, personally appeared Courtney Clarke and Rebecca D. Schuett, to me personally known, who being by me duly sworn, did say that they are the Mayor and City Clerk of the City of Waukee, Iowa, a municipal corporation, executing the within and foregoing instrument and acknowledged that they executed the same as their voluntary act and deed of the City of Waukee, by it and by them voluntarily executed. ______________________________ Notary Public in and for the State of Iowa My Commission expires _______________ 6 EXHIBIT A DEVELOPMENT PROPERTY PARCEL 21-96 AS INCLUDED IN THE PLAT OF SURVEY RECORDED IN BOOK 2021, PAGE 31554, ALL IN THE CITY OF WAUKEE, DALLAS COUNTY, IOWA. 7 EXHIBIT B PROPOSED IMPROVEMENTS 8 EXHIBIT C PROPOSED PROPERTY DEDICATION PARCEL 22-121 AS INCLUDED IN THE PLAT OF SURVEY RECORDED IN BOOK 2022, PAGE 20745, ALL IN THE CITY OF WAUKEE, DALLAS COUNTY, IOWA. 9 EXHIBIT D PROPOSED IMPROVEMENTS COST