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HomeMy WebLinkAboutCentex Homes,A-3 . I - 7 VOLUNTARY CONTRIBUTION AGREEMENT This Vo tary Contribution Agreement ("Agreement") is entered into this day of 'I 20O -/by and between the City of Auburn, Washington, a municipal corporation ("City") and Centex Homes, a Nevada General Partnership ("Developer"). WHEREAS, Developer is the owner of the Trail Run (AKA Riversand) subdivision ("Subdivision") set forth in Exhibit A attached hereto and incorporated by reference; and WHEREAS, Developer recognizes there will be a direct impact on existing park recreation, and open space facilities as a result of development of the Subdivision and that the Subdivision will directly contribute to the need for new facilities and/or the need for additions to existing facilities; and WHEREAS, the City of Auburn Heaxings Examiner's decision on the Subdivision included the following condition: Condition 8. In order to meet subdivision requirements of ACC 17.12.260 related to dedication of recreation land and based on the submitted preliminary plat, the applicant shall either; a. Dedicate 4.85 acres of land generally in the location identified as Tracts O& P on the Preliminary Plat, by DBM Engineers, dated 5/25/05 and in a configuration acceptable to the Parks Director; or b. Alternatively, the City will accept the lesser dedication of 4.0 acres within the areas identified as Tracts A-G, O& P on the Preliminary Plat, by DBM Engineers, dated 5/25/05. The remainder of the required land (0.85 acres) to meet the recreation land dedication standard shall be in the form of a voluntary agreement with the City, acceptable to the City of Auburn Parks Director, to provide a fee-in-lieu of dedication estimated to be the amount of $141,312.50. The estimated calculation is based on the currently proposed 287 dwelling units a formula o£ community parks development cost of ($166,250.00 per acre) X 0.85 acres. The actual amount shall be paid prior to final plat approval for each phase, shall be based on the number of units/lots proposed for each final plat application. WHEREAS, the actual amount of park area being dedicated is different from that originally proposed and thus, the actual fee in lieu of dedication amount is $71,487.50. The amount of park area required is determined by providing 6.03 acres per 1000 population equivalent. The population equivalent is determined by multiplying 2.8 population equivalent by the number of lots. Centex has dropped 1 the number of lots from 287 to 284 and thus, the amount of required park area has decreased from 4.85 acres, to 4.8 acres. Based on adjustments made to Parks and Open Space throughout the development process, the amount of space that will be finally provided is 4.37 acres. The shortfall therefore, is only 0.43 acres, which means that the total fee in lieu is only $71,487.50 ($166,250 X 0.43). NOW, THEREFORE, in consideration of the mutual benefits and conditions set forth below, the parties hereto agree as follows: 1. Developer has voluntarily elected to meet the applicable City park and recreation land dedication requirements by entering into this agreement and shall provide a fee in lieu of dedication equal to the amount of $71,487.50. Pursuant to the calculation formula's summarized in Condition No. 8 of City of Auburn Resolution No. 3952 which approved the Preliminary Plat of Trail Run (a.k.a. Riversand). 2. The parties agree that the fee in lieu shall be expended to fund the capital improvements set forth in Exhibit B attached hereto and incorporated by reference. 3. This Agreement contains the entire agreement between the parties, and no other agreements, oral or otherwise, regarding the subject matter of this Agreement shall be deemed to exist or bind either of the parties. Either party may request changes to the Agreement. Changes which are mutually agreed upon shall be incorporated by written amendments to this Agreement. 4. This Agreement shall be governed by and construed in accordance with the laws of the State of Washington. In the event any suit, arbitration or other proceeding is instituted to enforce any term of this Agreement, the parties specifically understand and agree that venue shall be exclusively in King County, Washington. The prevailing party in any such action shall be entitled to its attorneys' fees and costs of suit, which shall be fixed by the judge hearing the case and such fee shall be included in the judgment. 5. Any provision or part of this Agreement held to be void or unenforceable under any law or regulation shall be deemed stricken and all remaining provisions shall continue to be valid and binding upon the City and the Developer, who agree that the Agreement shall be reformed to replace such stricken provision or part with a valid and enforceable provision that comes as close as reasonably possible to expressing the intent of the stricken provision. CITY OF AUBURN , ~ Centex Homes, a Nevada General Partnership By: Centex Real Estate Corporation, A Nevada Corporation, Managing 7ral P ner 2 PETER B. LEWIS MAYOR ATTEST: D ' lle E. Daskam, City Clerk APPROVED AS TO FO by: Rob Purser, Division President IQoel B. Het City Attorney