TRIZ NB 8 2016-08-08 1
•
TIRZ NO. 2
2016-NB NO.8
TIRZ Project Implementation and Reimbursement Process
To begin the process of planning, design, construction and reimbursement under the TIRZ Plan,
the TIRZ and the Developer/Sub-developer will sign a;reimbursement agreement that establishes
the extent of TIRZ Improvements (the "Project") and the terms and conditions under which the
Project will be eligible for reimbursement. The reimbursement agreement, once executed, shall
constitute the approval by the TIRZ for the Developer/Sub-developer to proceed with
construction of the Project.
The reimbursement agreement will establish: (1) the quantitative and qualitative aspects and
character of the Project, (2) the maximum costs to be,reimbursed for the Project, (3) a checklist
of requirements for implementing and completing the Project for reimbursement, and (4) the
procedures for the review of the Project for the purposes of the TIRZ approving reimbursement
of the Project costs once construction is completed(5)4the incremental assessed valuation criteria
which must be achieved before reimbursements may conunencc.
The maximum costs to be reimbursed to the Developer/Sub-developer for the Project shall be
established in the reimbursement agreement, based on the TIRZ Engineer's determination of the
scope of TIRZ capital improvements that are consistent with the TIRZ Plan in the development
of the Developer/Sub-developer's development area.
The quantitative and qualitative aspects and character of the Project shall be as depicted in the
Project and Financing Plan,the PUD,the Development Agreement,Shadow Creek Ranch Design
Guidelines and other, related documents made available to the Developer/Sub-developer. These
shall establish the over-all intent of the development for Shadow Creek Ranch TIRZ, including
those portions of the master plan improvements constituting the Project to be undertaken by the
Developer/Sub-developer under the reimbursement agreement.
The procedures for the design and construction of the Project shall be as follows:
1. Prior to commencing construction, theDeveloper/Sub-developer shall prepare all
necessary plans and specifications which shall he approved by all regulatory
authorities having jurisdiction;
2. Developer/Sub-developer shall bid ill contracts in accordance with Texas
competitive bidding laws for public improvements and in accordance with any
requirement of the City and in full compliance with the rules and regulations of
any local,regional, state or federal agencies having jurisdiction, and shall comply
with all policies of the City as they may, be in effect from time to time;
3. Developer/Sub-developer shall construct the prujcet in accordance with all local
and state law for construction of public improvements;
::O DM AlN H O DMA'f ioaston;49792A:1
This agreement was duly authorized at a meeting of the Board of Directors of the
Zone held on the 8th day of August, 2016.
Very truly yours,
REINVESTMENT ZONE NO. TWO, CITY OF
PEARLAND, TEXAS
By.
c�-- /
Gary ' .ok Vice Chair
ATTEST: Boar. of Directors
By: Iv a..)
Mike Pylqtrn Secretary
Board of Directors
AGREED TO AND ACCEPTED THIS 8th DAY OF August, 2016.
CCAC Reserve Holdings, LLC,
a Texas limited liability company
By: —.1■11110r
Name: Allen Crosswell
Title: Managing Member
614635 2
WA Engineering, Inc. IA
2929 Briarpark Drive Phone 713 953 5200
Suite 600 Fax 713 953 5026
Houston,Texas 77042 www.liaengineenng corn
TBPE Ns F-1386 TBPLS Ns 10110501 TIRZ NO. 2
2016-NB NO.8
August 8, 2016
Board of Directors
Reinvestment Zone No. 2, City of Pearland, Texas
City of Pearland, Texas
3519 Liberty Drive
Pearland, Texas 77581
Re: Project# 16-08-001, Roadway to Serve Reserve at Shadow Creek
Reinvestment Zone No. 2, City of Pearland, Texas
LJA Project No. 1546-0000 (2.0)
Dear Board of Directors:
We have determined that the referenced project, as proposed, is included in the adopted TIRZ
Project Plan. The budget for the proposed improvements totals $2,075,106, which includes
construction cost, design cost, and contingency for the Roadway to Serve Reserve at
Shadow Creek as shown on the attached exhibits.
Attached is a budget status report that illustrates the remaining balances within the TIRZ budget
and shows the proposed budget for the above referenced project.
If you have any questions or concerns regarding this matter, please contact our office.
Sincerely,
James D. Ross, PE
Vice President
JDR/ew
Attachments
Copy: Ms. Lynne B. Humphries—Allen Boone Humphries Robinson LLP
Mr. Clay Pearson— City of Pearland, Texas
0:\LAND\1546\15460000\TIRZFinance 072016.doc
TIRZ NO.2
• 2016-NB NO.8
LJA Engineering.Inc. August 8,2018
Reinvestment Zone No.2,City of Pearland,Texas ENR Index Jan.1999- 6000
Shadow Creek Ranch-Original TIRZ Plan ENR Index Jan.2016- 10133
Adjustment- 68.88%
Budget for Proposed Letter Finance Agreements
Project No.16-08-001
Roadway to Serve Reserve
at Shadow Creek
Total of TIRZ
Projects Total Funds
Approved for Total of Available for Recommended for Total Funds
Reimbursement- Outstanding TIRZ Proposed TIRZ approval on Available for Future
Budget(1999 Actual Costs Projects-Budget Projects(1999 August 8,2016 TIRZ TIRZ Projects(1999
Items Dollars) (1999 Dollars) (1999 Dollars) Dollars) (1999 Dollars) Budget% Dollars)
INFRASTRUCTURE
Streets
Pavement $12,810,050 514,667,422 $0 ($2,057,372) $500,150 3.97% (52,557,522)
Sidewalks $1,859,400 $476,591 $0 51,382,809 $113,350 6.10% 51,269,459
Landscaping and Irrigation 59.675.350 $16,372,521 50 ($6,697.171) $150,000 1.55% ($8.847,171)
Entry Monuments $735,320 $735,320 $0 50 SO 0.00% 50
Water System $3,026,863 $1,381,401 $0 51,645,462 5114,300 3.78% $1,531,162
Wastewater System 56.940.964 $775,938 50 56,185,026 $127,000 1.83% $6,038,026
Storm Sewer System $10,195,776 $4,901,100 SO $5,294,675 $635,600 623% $4,659,075
Lakes&Channels
Improvements $29,121,916 $23,675,826 SO $5,446,090 50 0.00% 55.446,090
Land Cost $4,597,889 $17,855,700 $81,225 (513,339,035) 50 0.00% (513,339,035)
Parks&Recreation
Improvements $5,155,524 $1,322,405 SO $3,833,119 50 0.00% $3,833,119
Land Cost $2,383,545 $5,816.931 $0 ($3,433,385) $0 0.00% (53,433,385)
Major Improvements
Water Plants
Land Cost $20,000 $0 $0 $20,000 $0 0.00% $20,000
W.W.T.P $340,000 $0 $0 $340,000 50 0.00% $340,000
Lift Station $300,000 $65,818 $0 $234,182 $0 0.00% $234,182
Traffic Signals $600,000 $155,284 SO $444,716 SO 0.00% $444,716
McHard Rd Relmbursables
Miscellaneous $150,000 SO $0 5150,000 50 0.00% $150,000
Signal $100,000 $87,502 $0 $12.498 $0 0.00% 512.498
SH 288 Access Road $1,000,000 $783,290 SO $218,710 $0 0.00% $218,710
Contingencies&Engineering
Contingencies(10%) $8,181,116 5377,797 SO $7,803,319 $164,040 2.01% $7,839,279
Engineering(15%) $11,274,211 513230,337 SO ($1,956,126) $270,666 2.40% ($2,226,792)
Subtotal $108,267,923 $102,681,183 $81,225 55,505,516 $2,075,106 1.92% $3,430,410
ZONE ADMINISTRATION/CREATION
TIRZ Administration(1-3 yrs.) $466,000 $313,079 SO $152,921 50 0.00% $152,921
Reimbursable TIRZ Creation Costs 5900,000 $882,434 SO $17,586 $0 0.00% 517,566
Subtotal $1,366,000 51,195,513 $0 $170,487 $0 0.00% $170,487
TOTAL $109,633,923 $103,876,696 $81,225 $5,676,007 $2,075,106 1.89% $3,600,897
CITY FACILITIES
Library
Improvements 52.395,000 50 50 52,395,000 $0 0.00% $2,395,000
Land Cost 5105,000 $295,463 SO ($190,463) $0 0.00% (5190,463)
Fire/Police Station
Improvements $2.255,000 $0 50 $2,255,000 $0 0.00% 52,255,000
Land Cost $245.000 $546,133 SO ($301,133) 50 0.00% ($301,133)
Subtotal $5,000,000 $841,597 $0 54,158,403 $0 0.00% $4,158,403
EDUCATIONAL FACILITIES
AISO Elementary School 541.600.000 54,278,249 $0 537.321,751 50 0.00% $37,321,751
AISD Jr.High School 521,450.000 $2.369.117 $0 $19,080,883 50 0.00% $19,080,883
AISD FresNSoph CampusHigh School 534,050.000 SO 50 $34,050,000 SO 000% $34,050,000
FBISO Elementary School $11,000,000 SO SO 511,000.000 SO 0.00% 511.000,000
FBISO Middle School 526,000,000 50 SO 526,000,000 SO 0.00% $26,000,000
Subtotal $134,100,000 $6,647,365 00 $127,452,635 $0 0.00% $127,452,635
GRAND TOTAL $248,733,923 $111,365,657 $81,225 _ $137,287,041 $2,075,106 0.83% $135,211,935
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—_� ____ ___ _
TIRZ NO. 2
2016-NB NO.8
REINVESTMENT ZONE NO. TWO,CITY OF PEARLAND,TEXAS
(CCAC Reserve Holdings,LLC)
August 8,2016
CCAC Reserve Holdings,LLC
8827 W. Sam Houston Pkwy
Suite 200
Houston,Texas 77040
Attn: Allen Crosswell
Re: Financing for TIRZ Improvements: Roadway to Serve Reserve at Shadow
Creek;TIRZ Project No. 16-08-001
Dear Mr. Crosswell:
CCAC Reserve Holdings, LLC ("CCAC") is a Sub-Developer within
Reinvestment Zone No. 2, City of Pearland, Texas (the "Zone"). The Zone and CCAC
have determined to proceed with the design and construction of the following TIRZ
Improvements to be reimbursed in the future:
Roadway to Serve Reserve at Shadow Creek;TIRZ Project No. 16-08-001
Attached to this letter is a map showing the area which is benefited by the TIRZ
Improvements over which the available Tax Increment will be applied for purposes of
determining when reimbursement is made. CCAC has agreed to pre-finance the design
and construction of the TIRZ Improvements to be reimbursed in accordance with this
letter agreement.
The Zone hereby gives its approval to proceed with the construction of the above
described TIRZ Improvements. All procedures set forth in the document entitled "TIRZ
Project Implementation and Reimbursement Process" must be followed and letters from
the Zone's Engineer certifying the completion of the TIRZ Improvements and from the
Zone's Auditor must be issued before the Zone will reimburse CCAC. A copy of the
TIRZ Project Implementation and Reimbursement Process is attached.
The Zone's Engineer has determined that the budget(1999 dollars) established in
the Zone's Project Plan and Reinvestment Zone Financing Plan, as amended, for the
above described TIRZ Improvements is $2,075,106 plus "developer interest" calculated
per the Zone's Project Plan and Reinvestment Zone Financing Plan. The Zone is not
obligated to reimburse CCAC for any amount in excess of that budgeted amount plus
"developer interest."
614635 1
• • TIRZ NO. 2
2016-NB NO.8
4. Developer/Sub-developer shall obtain ii spcctions and approvals in accordance
with all of the City of Pearland's processes and procedures, and with the processes
and procedures of any authority or agency having jurisdiction; the Developer/Sub-
developer shall be responsible for any city of Pearland or other agency review
and/or inspection fees.
5. Developer/Sub-developer shall obtain inspections and approvals from Shadow
Creek Ranch Maintenance Association(SCRMA);and
6. Developer/Sub-developer shall submit 'documentation demonstrating that the
Project was completed in accordance with the terms of the reimbursement
agreement as substantially set out in the check list specified below.
The checklist of requirements for TIRZ reimbursement and completing the Project include but
are not limited to the following:
Recorded Plat
Approved Plans and Specifications
City of Pearland-approved form of Contract for Construction
Bid Notice/Bid Advertisement Affidavits
Bid Tabulation
Recommendation of Award
Payment,Performance and Maintenance Bonds
_Insurance Certificates
Executed Contract for Construction
Notice To Proceed
Testing and Inspection Reports
_Certified Pay Applications
—Approved Change Orders
Certificates of Completion
Letters of Acceptance(incl. City of Pearland)
Consent of Surety for Final Payment!
Contractors'Unconditional Release of Liens
Signed Record Drawings
For all TIRZ Improvements included in the Plan, the completed documentation shall be
submitted to the TIRZ Administrator and shall be reviewed for compliance with the
reimbursement agreement by the TIR7.Engineer and the TIRZ Auditor(the "TIRZ Consultants").
The TIRZ Auditor will confirm with any Municipal Utility District("MUD") in which a Project
is located that the Developer/Sub-Developer is not beiiig reimbursed for the Project by the MUD.
All TIRZ Consultants' costs associated with the review of the Developer/ Sub-developer
reimbursement review documentation shall be paid by the Developer/Sub-developer upon the
::ODMA MHOOMAWautem:497928:1 -2-I
{
• TIRZ NO. 2
2016-NB NO.8
submittal of the reimbursement package.The TIRZ Consultants will review the documentation to
verify that the costs for the Project arc eligible for TIRZ reimbursement under the terms and
conditions specified in the reimbursement agreement.
Once the review of the submitted package is complete, the TIRZ Consultants shall make a
recommendation to the TIRZ Board in conformance with the reimbursement agreement. When
approved, the Project reimbursement costs will be logged for priority of reimbursement as
established by the reimbursement approval date and the Project and Financing Plan. If
appropriate, the TIRZ Board will recommend to the City to reimburse the Developer/Sub-
developer when increment from the Project becomes available.
•
::ODMAMHODMAU1owroo:497928:1 -3
•