HomeMy WebLinkAbout134-01 RESOLUTION• •
RESOLUTION NO. 134-01
A RESOLUTION TO APPROVE A CONTRACT
WITH WHM LAND INVESTMENTS, INC.
CONCERNING PAYMENT FOR A PORTION OF
THE COST OF EXTENDING RUPPLE ROAD
FROM WEDINGTON ROAD TO PERSIMMON
WHEREAS, the City of Fayetteville has agreed to extend and construct
Rupple Road (designated on the Master Street Plan as an Arterial) from
Wedington Road south to Persimmon as a standard city street; and
WHEREAS, WHM Land Investments, Inc. has agreed to pay $176,724.25
toward its share to make this a four -lane road if necessary within the next six
years.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF FAYETTEVILLE, ARKANSAS:
Section 1. That the City Council of the City of Fayetteville, Arkansas
approves the Contractual Agreement between the City and WHM Land
Investments, Inc. and authorizes the Mayor to sign said Contract.
PASSED and APPROVED this the 2nd day of October, 2001.
By:
H ather Woodruff, City Cler
APPROVED:
By: /2/f £d4
.
DAN COODY, May
NAME OF FILE:
CROSS REFERENCE:
•
Resolution No. 134-01
o
10/02/01
Resolution No. 134-01
10/10/01
Contractual Agreement with WHM Land Investments, Inc.
10/03/01
Certificate of Authority and Special Power of Attorney
09/21/01
Memo to Mayor Coody and City Council from Hugh Earnest regarding
the Contractual Agreement
09/10/01
Memo to Fay. Planning Commission from Tim Conklin, City Planner,
thru Hugh Earnest, Urban Dev. Director, Kit Williams, City Attorney
10/01/01
Staff Review Form
10/11/01
Memo to Tim Conklin, City Planner, from Heather Woodruff, City Clerk
NOTES:
• 1
RESOLUTION NO.
A RESOLUTION TO APPROVE A CONTRACT
WITH WHM LAND INVESTMENTS, INC.
CONCERNING PAYMENT FOR A PORTION OF
THE COST OF EXTENDING RUPPLE ROAD
FROM WEDINGTON ROAD TO PERSIMMON
WHEREAS, the City of Fayetteville has agreed to extend and construct
Rupple Road (designated on the Master Street Plan as an Arterial) from
Wedington Road south to Persimmon as a standard city street; and
WHEREAS, WHM Land Investments, Inc. has agreed to pay $176,724.25
toward its share to make this a four -lane road if necessary within the next six
years.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF FAYETTEVILLE, ARKANSAS:
Section 1. That the City Council of the City of Fayetteville, Arkansas
approves the Contractual Agreement between the City and WHM Land
Investments, Inc. and authorizes the Mayor to sign said Contract.
PASSED and APPROVED this the 2nd day of October, 2001.
APPROVED:
By:
DAN COODY, Mayor
ATTEST:
By:
Heather Woodruff, City Clerk
• •
Ra.. /3.0/
CONTRACTUAL AGREEMENT
This Agreement, made and entered into this �,"day of October, 2001, by and
between the City of Fayetteville, Arkansas, (hereinafter called "City") and WHM Land
Investments, Inc. (hereinafter called "WHM"),
WITNESSETH:
WHEREAS, on September 10, 2001 the City Planning Commission approved the
final plat of WHM, located at City Atlas Page 439, but referred the establishment of an
impact fee to the City Council for its approval.
WHEREAS, WHM desires to have an executed agreement formalizing the current
understanding before transferring Tract 5 to the City.
NOW, THEREFORE, the City and WHM agree as follows:
1. The City has agreed to build Rupple Road, classified as a minor
arterial, in order to provide access to the proposed Fayetteville Boys and Girls Club.
WHM shall pay, based on the rational nexus formula, an impact fee for a
proportionate share of the cost of Rupple Road as a Minor Arterial. Based on the
formula, the applicant shall be assessed $176,724.25 for a road impact fee. The
impact fee was based on the projected future residential development of Tracts 3
& 7 that shall be using Rupple Road.
At the time the Boys and Girls Club meet all requirements to obtain the
Reynolds grant, WHM shall pay the entire $176,724.25 if the City Council approves
and completes construction of Rupple Road as a four (4) lane street with curbs,
gutters, and storm sewer.
If the City Council approves construction of a two (2) lane street with plans
for future widening, then at the time the Boys and Girls Club meet all requirements
to obtain the Reynolds grant, WHM shall:
a) Pay to the City $100,000.00 (non-refundable, not dependant on any
development of vacant lots),
b) Provide the City an irrevocable letter of credit in the amount of
$76,724.25 with additional principal to be added each year based on the
increase in the Consumer Price Index during the previous calendar year, as
quoted in the Wall Street Journal on January 2 of the previous year and the
year of the increase. Such letter of credit shall run fora term of six (6) years
from date of when all conditions are met for the Fayetteville Boys and Girls
Club to obtain the Reynolds grant and shall be due upon the City completing
the widening of Rupple Road to four (4) lanes with curbs, gutters, and storm
co
Ag
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•
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CONTRACTUAL AGREEMENTlirC1 as ED
This Agreement, made and entered into this 10 da of October, 2001, by and
between the City of Fayetteville, Arkansas, (hereinafter called "City") and WHM Land
Investments, Inc. (hereinafter called "WHM"),
WITNESSETH:
WHEREAS, on September 10, 2001 the City Planning Commission approved the
final plat of WHM, located at City Atlas Page 439, but referred the establishment of an
impact fee to the City Council for its approval.
WHEREAS, WHM desires to have an executed agreement formalizing the current
understanding before transferring Tract 5 to the City.
NOW, THEREFORE, the City and WHM agree as follows:
1. The City has agreed to build Rupple Road, classified as a minor
arterial, in order to provide access to the proposed Fayetteville Boys and Girls Club.
WHM shall pay, based on the rational nexus formula, an impact fee for a
proportionate share of the cost of Rupple Road as a Minor Arterial. Based on the
formula, the applicant shall be assessed $176,724.25 for a road impact fee. The
impact fee was based on the projected future residential development of Tracts 3
& 7 that shall be using Rupple Road.
At the time the Boys and Girls Club meet all requirements to obtain the
Reynolds grant, WHM shall pay the entire $176,724.25 if the City Council approves
and completes construction of Rupple Road as a four (4) lane street with curbs,
gutters, and storm sewer.
if the City Council approves construction of a two (2) lane street with plans
for future widening, then at the time the Boys and Girls Club meet all requirements
to obtain the Reynolds grant, WHM shall:
a) Pay to the City $100,000.00 (non-refundable, not dependant on any
development of vacant lots),
b) Provide the City an irrevocable letter of credit in the amount of
$76,724.25 with additional principal to be added each year based on the
increase in the Consumer Price Index during the previous calendar year, as
quoted in the Wall Street Journal on January 2 of the previous year and the
year of the increase. Such letter of credit shall run for a term of six (6) years
from date of when all conditions are met for the Fayetteville Boys and Girls
Club to obtain the Reynolds grant and shall be due upon the City completing
the widening of Rupple Road to four (4) lanes with curbs, gutters, and storm
0 •
CONTRACTUAL AGREEMENT
PAGE 2 OF 3 PAGES
sewer. In the event, Rupple Road is not improved to such standards within
six (6) years, the letter of credit shall expire.
c) The irrevocable letter of credit shall be Issued for a one year
period at the beginning of each twelve (12) month fiscal period during
the six (6) year term.
2. The projected future development of Tracts 3 & 7 are 81 single family
units, 28 duplex units, and 260 apartment units. If during the six year period
indicated above a development is approved by the Planning Commission in excess
of any of the above indicated units WHM shall pay an additional impact fee for each
unit in excess of the above as follows:
a) For each excess single family unit $231.30 in cash and a letter of
credit for $154.20, total being $385.50. The total amount will be paid in cash
if Rupple Road has been completed as a four (4) lane road with curbs,
gutters, and storm sewers.
b) For each excess duplex unit $141.64 in cash and a letter of credit for
$94.43, total being $236.07. The total amount will be paid in cash if Rupple
Road has been completed as a four (4) lane road with curbs, gutters, and
storm sewers.
c) For each excess apartment unit $320.51 in cash and a letter of credit
for $213.67, total being $534.18. The total amount will be paid in cash if
Rupple Road has been completed as a four (4) lane road with curbs, gutters,
and storm sewers.
The cash impact fee and letter of credit shall be delivered upon the Planning
Commission approving the final plat or large scale development. Any letters of
credit received during the six (6) year period from the date the Boys and Girls Club
meet all requirements, shall be returned back to WHM if the road is not widened to
four (4) lanes with curbs, gutters, and storm sewers during the six (6) year period.
If after the six (6) year period WHM presents a preliminary plat to the
Planning Commission in excess of the projected units, WHM shall pay an additional
impact fee for each unit in excess of the projections based on whether or not
Rupple Road is completed at that time as a four (4) lane road, with curbs, gutters
and storm sewer. If completed, the total amount indicated above shall be paid for
each excess unit. If not complete, the cash amount indicated above shall be paid
for each excess unit.
CONTRACTUAL AGREEMENT
PAGE3OF3PAGES
If during the six (6) year period indicated above WHM has a final plat
approved for less than the projected units indicated above the $76,724.25 letter of
credit shall be reduced for each unit less than the projected units indicated above.
WHM shall receive a reduction for each unit less as follows:
a) For each less unit of single family in tract 7, a reduction in the letter
of credit of $154.20.
b) For each less unit of duplex in tract 7, a reduction in the letter of credit
of $94.43.
c) For each less unit of apartments in tract 3, a reduction in the letter of
credit of $213.67.
3. Upon the Boys and Girls Club meeting all requirements to obtain the
Reynolds grant, all on-site and off-site improvements and fees, for any development
by WHM, or its assigns, within the approved final plat area shall be based upon the
above provisions and terms. The above provisions and terms will apply to WHM
and any subsequent assigns. In consideration forthis Agreement by the City, WHM
shall deed Tract 5 to the City.
4. In the event the Boys and Girls Club fails to meet all requirements to
obtain the Reynolds grant and is not constructed within the approved final plat area,
all on-site and off-site improvements and fees for any development on tracts within
the approved final plat area shall be based on current ordinance requirements at the
time of development approval. Also, the City shall deed Tract 5 back to WHM.
IN AGREEMENT WITH ALL THE TERMS AND CONDITIONS ABOVE, WE SIGN
BELOW:
CITY OF FAYETTEVILLE
By:
Dan Goody, Mayor
By. jil
Heather oodruff, City C rk
WHM LAND INVESTMENTS, INC.
B
d:lmyfiieslcopylmcilroyfyc. ca
•
CERTIFICATE OF AUTHORITY
AND
SPECIAL POWER OF ATTORNEY
• 1LLD OR RECORD
OCT 9 PM 1 56
WASHiNLiui GO: d(
B. STAMPS
TO WHOM IT MAY CONCERN:
Comes now the undersigned, Hayden Mcllroy as President of WHM Land
Investments, Inc., and does hereby appoint and designate Deborah K. Sexton, as the true
and lawful attorney in fact and agent (subsequently called agent), to serve and to sign
documents, for and in the name, place, and stead, and for the use and benefit of the
corporation, to endorse checks, drafts, execute agreements, contracts, warranty deeds,
promissory notes, mortgages, security agreements, assignments of rents and leases,
indemnity agreements, borrower's certificates, financing statements, deeding of title, or
other written documents binding the corporation in the negotiations and transactions with
the City of Fayetteville and the Fayetteville Boys & Girls Club.
The rights, powers, and authority of the agent, Deborah K. Sexton, to exercise any
and all of the rights and powers herein granted shall remain in full force until October
25, 2001. After such date this power of attorney shall terminate, and thereafter be null,
void, and of no effect whatsoever.
This power of attorney may be executed in counterparts, each of which shall be
deemed to be an original and all of which, when taken together, shall constitute one
instrument.
IN WITNESS WHEREOF, I have hereunto subscribed my name on the r day of
October, 2001.
2001126596
•
CERTIFICATE OF AUTHORITY AND
SPECIAL POWER OF ATTORNEY
OF WHM LAND INVESTMENTS, INC,
PAGE 2 OF 2 PAGES
ATTEST:
elinda Mcllroy, Secretary
STATE OF ARKANSAS
COUNTY OF WASHINGTON
WHM LAND INVESTMENTS, INC.
B
/�
' a /den Mcllroy, President
BE IT REMEMBERED, on this day came before the undersigned Notary Public
within and for the County aforesaid, duly commissioned and acting, Hayden Mcllroy and
Melinda Mcllroy, in their capacity as President and Secretary of WHM Land Investments,
Inc., appearing in person to me, who stated that they had executed and delivered the
above and foregoing document for the consideration, uses and purposes therein
mentioned and set forth.
WITNESS my hand and seal as such Notary Pu • this 3' day of Ober, 2001
MY COMMISSION EXPIRES:�
f 1—OS^2c /
d:lmyfileslcopylmcilroyspecia1103.poa
2001126597
• •
4S. /3'9-0l
CONTRACTUAL AGREEMENT
PAGE 2 OF 3 PAGES
sewer. In the event, Rupple Road is not improved to such standards within
six (6) years, the letter of credit shall expire.
c) The irrevocable letter of credit shall be issued for a one year
period at the beginning of each twelve (12) month fiscal period during
the six (6) year term.
2. The projected future development of Tracts 3 & 7 are 81 single family
units, 28 duplex units, and 260 apartment units. If during the six year period
indicated above a development is approved by the Planning Commission in excess
of any of the above indicated units WHM shall pay an additional impact fee for each
unit in excess of the above as follows:
a) For each excess single family unit $231.30 in cash and a letter of
credit for $154.20, total being $385.50. The total amount will be paid in cash
if Rupple Road has been completed as a four (4) lane road with curbs,
gutters, and storm sewers.
b) For each excess duplex unit $141.64 in cash and a letter of credit for
$94.43, total being $236.07. The total amount will be paid in cash if Rupple
Road has been completed as a four (4) lane road with curbs, gutters, and
storm sewers.
c) For each excess apartment unit $320.51 in cash and a letter of credit
for $213.67, total being $534.18. The total amount will be paid in cash if
Rupple Road has been completed as a four (4) lane road with curbs, gutters,
and storm sewers.
The cash impact fee and letter of credit shall be delivered upon the Planning
Commission approving the final plat or large scale development. Any letters of
credit received during the six (6) year period from the date the Boys and Girls Club
meet all requirements, shall be returned back to WHM if the road is not widened to
four (4) lanes with curbs, gutters, and storm sewers during the six (6) year period.
If after the six (6) year period WHM presents a preliminary plat to the
Planning Commission in excess of the projected units, WHM shall pay an additional
impact fee for each unit in excess of the projections based on whether or not
Rupple Road is completed at that time as a four (4) lane road, with curbs, gutters
and storm sewer. If completed, the total amount indicated above shall be paid for
each excess unit. If not complete, the cash amount indicated above shall be paid
for each excess unit.
• •
CONTRACTUAL AGREEMENT
PAGE 3 OF 3 PAGES
45./34-0/
If during the six (6) year period indicated above WHM has a final plat
approved for less than the projected units indicated above the $76,724.25 letter of
credit shall be reduced for each unit less than the projected units indicated above.
WHM shall receive a reduction for each unit less as follows:
a) For each less unit of single family in tract 7, a reduction in the letter
of credit of $154.20.
b) For each Tess unit of duplex in tract 7, a reduction in the letter of credit
of $94.43.
c) For each less unit of apartments in tract 3, a reduction in the letter of
credit of $213.67.
3. Upon the Boys and Girls Club meeting all requirements to obtain the
Reynolds grant, all on-site and off-site improvements and fees, for any development
by WHM, or its assigns, within the approved final plat area shall be based upon the
above provisions and terms. The above provisions and terms will apply to WHM
and any subsequent assigns. In consideration for this Agreement by the City, WHM
shall deed Tract 5 to the City.
4. In the event the Boys and Girls Club fails to meet all requirements to
obtain the Reynolds grant and is not constructed within the approved final plat area,
all on-site and off-site improvements and fees for any development on tracts within
the approved final plat area shall be based on current ordinance requirements at the
time of development approval. Also, the City shall deed Tract 5 back to WHM.
IN AGREEMENT WITH ALL THE TERMS AND CONDITIONS ABOVE, WE SIGN
BELOW:
CITY OF FAYETTEVILLE
Dan Coody, ayor
-",,Grid_s_.‘
eather Woodruff City C
WHM LAND INVESTMENTS, INC.
By:
d amyfileslcopylmciJroyfyc. ca
. •
CONTRACTUAL AGREEMENT
This Agreement, made and entered into this day of September, 2001, by and
between the City of Fayetteville, Arkansas, (hereinafter called "City") and WHM Land
Investments, Inc. (hereinafter called "WHM"),
WITNESSETH:
WHEREAS, on September 10, 2001 the City Planning Commission approved the
final plat of WHM, located at City Atlas Page 439, but referred the establishment of an
impact fee to the City Council for its approval.
WHEREAS, WHM desires to have an executed agreement formalizing the current
understanding before transferring Tract 5 to the City.
NOW, THEREFORE, the City and WHM agree as follows:
1. The City has agreed to build Rupple Road, classified as a minor
arterial, in order to provide access to the proposed Fayetteville Boys and Girls Club.
WHM shall pay, based on the rational nexus formula, an impact fee for a
proportionate share of the cost of Rupple Road as a Minor Arterial. Based on the
formula, the applicant shall be assessed $176,724.25 for a road impact fee. The
impact fee was based on the projected future residential development of Tracts 3
& 7 that shall be using Rupple Road.
At the time the Boys and Girls Club meet all requirements to obtain the
Reynolds grant, WHM shall pay the entire $176,724.25 if the City Council approves
and completes construction of Rupple Road as a four (4) lane street with curbs,
gutters, and storm sewer.
If the City Council approves construction of a two (2) lane street with plans
for future widening, then at the time the Boys and Girls Club meet all requirements
to obtain the Reynolds grant, WHM shall:
a) Pay to the City $100,000.00 (non-refundable, not dependant on any
development of vacant lots),
b) Provide the City a letter of credit in the amount of $76,724.25 with
additional principal to be added each year based on the increase in the
Consumer Price Index during the previous calendar year, as quoted in the
Wall Street Journal on January 2 of the previous year and the year of the
increase. Such letter of credit shall run for a term of six (6) years from date
of when all conditions are met for the Fayetteville Boys and Girls Club to
• •
CONTRACTUAL AGREEMENT
PAGE 2 OF 3 PAGES
obtain the Reynolds grant and shall be due upon the City completing the
widening of Rupple Road to four (4) lanes with curbs, gutters, and storm
sewer. In the event, Rupple Road is not improved to such standards within
six (6) years, the letter of credit shall expire.
2. The projected future development of Tracts 3 & 7 are 81 single family
units, 28 duplex units, and 260 apartment units. If during the six year period
indicated above a development is approved by the Planning Commission in excess
of any of the above indicated units WHM shall pay an additional impact fee for each
unit in excess of the above as follows:
a) For each excess single family unit $231.30 in cash and a letter of
credit for $154.20, total being $385.50. The total amount will be paid in cash
if Rupple Road has been completed as a four (4) lane road with curbs,
gutters, and storm sewers.
b) For each excess duplex unit $141.64 in cash and a letter of credit for
$94.43, total being $236.07. The total amount will be paid in cash if Rupple
Road has been completed as a four (4) lane road with curbs, gutters, and
storm sewers.
c) For each excess apartment unit $320.51 in cash and a letter of credit
for $213.67, total being $534.18. The total amount will be paid in cash if
Rupple Road has been completed as a four (4) lane road with curbs, gutters,
and storm sewers.
The cash impact fee and letter of credit shall be delivered upon the Planning
Commission approving the final plat or large scale development. Any letters of
credit received during the six (6) year period from the date the Boys and Girls Club
meet all requirements, shall be returned back to WHM if the road is not widened to
four (4) lanes with curbs, gutters, and storm sewers during the six (6) year period.
If after the six (6) year period WHM presents a preliminary plat to the
Planning Commission in excess of the projected units, WHM shall pay an additional
impact fee for each unit in excess of the projections based on whether or not
Rupple Road is completed at that time as a four (4) lane road, with curbs, gutters
and storm sewer. If completed, the total amount indicated above shall be paid for
each excess unit. If not complete, the cash amount indicated above shall be paid
for each excess unit.
If during the six (6) year period indicated above WHM has a final plat
approved for less than the projected units indicated above the $76,724.25 letter of
credit shall be reduced for each unit less than the projected units indicated above.
• •
CONTRACTUAL AGREEMENT
PAGE 3 OF 3 PAGES
WHM shall receive a reduction for each unit less as follows:
a) For each less unit of single family in tract 7, a reduction in the letter
of credit of $154.20.
b) For each less unit of duplex in tract 7, a reduction in the letter of credit
of $94.43.
c) For each less unit of apartments in tract 3, a reduction in the letter of
credit of $213.67.
3. Upon the Boys and Girls Club meeting all requirements to obtain the
Reynolds grant, all on-site and off-site improvements and fees, for any development
by WHM, or its assigns, within the approved final plat area shall be based upon the
above provisions and terms. The above provisions and terms will apply to WHM
and any subsequent assigns. In consideration for this Agreement by the City, WHM
shall deed Tract 5 to the City.
4. In the event the Boys and Girls Club fails to meet all requirements to
obtain the Reynolds grant and is not constructed within the approved final plat area,
all on-site and off-site improvements and fees for any development on tracts within
the approved final plat area shall be based on current ordinance requirements at the
time of development approval. Also, the City shall deed Tract 5 back to WHM,
IN AGREEMENT WITH ALL THE TERMS AND CONDITIONS ABOVE, WE SIGN
BELOW:
CITY OF FAYETTEVILLE
By:
Dan Coody, Mayor
By:
Heather Woodruff, City Clerk
WHM LAND INVESTMENTS, INC.
By:
Hayden Mcllroy
damyfileslcopylmcilroyfyc.ca
AMENDMENT TO CONTRACTUAL AGREEMENT
CONCERNING LETTER OF CREDIT
AND RUPPLE ROAD CONSTRUCTION
This amendment to the Contractual Agreement of October 10, 2001, by and
between the City of Fayetteville and WHM Land Investments, Inc. (WHM), is
entered into by and between the City of Fayetteville and the successors in title of
WHM who are West Side Development Company, LLC (officers: Richard P.
Alexander, Robert J. Merry -Ship and John Nock) and Markham Hill Development
Company, LLC (same officers) (hereinafter referred to as "West Side Village") on
.y of April, 2007.
For and in consideration of the following promises and the boulevard
construction, the City of Fayetteville and West Side Village agree as follows:
1. The irrevocable letter of credit provided to the City by WHM Land
Investments, Inc. pursuant to the Contractual Agreement of October 10, 2001,
shall be extended through September, 2009 under the same terms and conditions
of the original contract except as follows:
(a) The amount of the irrevocable letter of credit shall not increase
for any increase of the Consumer Price Index after the January 2007 increase for
2006.
(b) The City may collect this letter of credit if the City Council has
approved and the Mayor has signed the construction contract for Rupple Road as a
four lane boulevard north of Persimmon toward Wedington by September of 2009
as outlined in the February 12, 2007, letter from West Side Village to Mayor Dan
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Coody and the City Council. This letter is attached hereto as Exhibit A. Payment
of the Letter of Credit shall be due upon the City's Approval of the construction
contract for the Rupple Boulevard section north of Persimmon. The City agrees
that the construction contract shall provide that construction of the boulevard shall
begin no later than ninety days after approval of the contract.
2. If the City has failed to approve the construction contract for the
boulevard section of Rupple Road from Persimmon to Wedington by September
2009, West Side Village may terminate this Amendment to the Contractual
Agreement upon ten days' written notice to the City of Fayetteville.
In Agreement With All The Terms And Conditions Above, We Sign
Below.
CITY OF F YETTEVILLE
By:
AN COODY, Mayor
WEST SIDE DEVELOPMENT CO., LLC.
MARKHAM 1 • DEVELOPMENT CO., LLC.
By:
RIC
RD P. ALEXANDER
ATTEST:
By:
,,,,rrrnrrrr�ySONDRA E. SMITH
4(.3.-6-ii
�,ERW ,?Egs���,,G,City Cleric/Treasurer
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WEST SIDE VILLAGE
A "NEW URBAN" DEVELOPMENT, FAYETTEVILLE, ARKANSAS
Developers
Richard Alexander
Phone: 479.521.9188
Fax: 4-79.521.1889
11 N West Avenue
Fayetteville, Arkansas 72701
ralexander@a amaregi.com
Rob Merry -Ship
Phone: 479.521.9188
Fax: 479.521.1889
11 N West Avenue
Fayetteville, Arkansas 72701
rrnerry-ship@arnaregi.com
John Nock
Phone: 479.444.9750
Fax: 479.444.9775
Bank of America Plaza
One East Center Street Suite #301
Fayetteville, Arkansas 72701
nock@nockinvestments.com
ATTENTION: MAYOR DAN COODY AND CITY COUNCIL
RE: PROPOSED WIDENING/BOULEVARD OF RUPPLE ROAD
DATE: 2/12/2007
There has been much discussion about the planned widening of Rupple Road
from the Rupple/Persimmon intersection northward to the Wedington/Rupple
connection. As developers in the community and specifically the developers of
"Westside Village", we are willing to assist however possible to create
development solutions that are good for the long-term quality of life that
Fayetteville is known for.
As you are aware, we purchased 21.65 acres of land from WHM Investments in
July, 2004 along Rupple Road just north of the Reynolds Boys and Girls Club.
The parcel of land had a pre-existing agreement between the City of Fayetteville
and the seller regarding road impact fees to be determined by the proposed
number of units on the site. This agreement had a stated timeline of expiration
that is set to expire in 2007. Now, as the area is experiencing the development
of multiple residential neighborhoods, the opening of Owl Creek School, a new
fire station, and the fully functioning Boys and Girls Club, the need is fast
approaching to widen the two lane stretch of Rupple Road between Wedington
Road and Persimmon.
In recent Ward 4 meetings and other public forums, citizens have weighed in on
the proposed widening of the road and have overwhelmingly supported the idea
that the road not only be widened, but also be built to the standards of other
recently completed sections of Rupple Road that contained a full boulevard
design. The boulevard design appropriately addresses the issues of child safety
and pedestrian access that are of a paramount concern in this urban setting.
The boulevard design also corresponds to the 2025 plan as advocated by the
City of Fayetteville.
Pursuant to recent requests by members of the Mayor's staff and specifically
Alderman Jordan regarding extending the timeline for the developer's road
impact fee, we, as a development team, have elected to extend the current
amount stated on the letter of credit to September 2009. This extension shall
be anted upon the agreement that the City will widen the specified section of
R pple Rs as a four lane boulevard and built within the September 2009
ti t. feline.
est Side Village Development
•
• L`i) FOR RECORD
CERTIFICATE OF AUTHORITY 01 OCT 9 PIT1 1 56
AND
SPECIAL POWER OF ATTORNEY
WASHINt.iiuN CO AR
B. STAMPS
TO WHOM IT MAY CONCERN:
Comes now the undersigned, Hayden Mcllroy as President of WHM Land
Investments, Inc., and does hereby appoint and designate Deborah K. Sexton, as the true
and lawful attorney in fact and agent (subsequently called agent), to serve and to sign
documents, for and in the name, place, and stead, and for the use and benefit of the
corporation, to endorse checks, drafts, execute agreements, contracts, warranty deeds,
promissory notes, mortgages, security agreements, assignments of rents and leases,
indemnity agreements, borrower's certificates, financing statements, deeding of title, or
other written documents binding the corporation in the negotiations and transactions with
the City of Fayetteville and the Fayetteville Boys & Girls Club.
The rights, powers, and authority of the agent, Deborah K. Sexton, to exercise any
and all of the rights and powers herein granted shall remain in full force until October
25, 2001. After such date this power of attorney shall terminate, and thereafter be null,
void, and of no effect whatsoever.
This power of attorney may be executed in counterparts, each of which shall be
deemed to be an original and all of which, when taken together, shall constitute one
instrument.
IN WITNESS WHEREOF, I have hereunto subscribed my name on the 3nd day of
October, 2001.
2001126596
C
AL
Sp
J
•
CERTIFICATE OF AUTHORITY AND
SPECIAL POWER OF ATTORNEY
OF WHM LAND INVESTMENTS, INC.
PAGE 2 OF 2 PAGES
ATTEST:
Melinda Mcllroy, Secretary
STATE OF ARKANSAS }
} ss.
COUNTY OF WASHINGTON }
WHM LAND INVESTMENTS, INC.
Mcllroy, President
BE IT REMEMBERED, on this day came before the undersigned Notary Public
within and for the County aforesaid, duly commissioned and acting, Hayden Mcllroy and
Melinda Mcllroy, in their capacity as President and Secretary of WHM Land Investments,
Inc., appearing in person to me, who stated that they had executed and delivered the
above and foregoing document for the consideration, uses and purposes therein
mentioned and set forth.
WITNESS my hand and seal as such Notary Pu
MY COMMISSION EXPIRES:
f/ -o5 za c,
this 3rd day of ber, 2001.
,.... - seM
DAWN LAIRD
N ,my Pudic - Mcanaas
WASHINGTON COUNTY
My Commwbn Expires 11.05-2006
d:\myfiieslcopy\mcilroyspecjailo3.poa
2001126597
FAYETTEV&LE •
THE CITY OF FAYETTEVILLE, ARKANSAS
Date: September 21, 2001
To: The Mayor and Council
From: Hugh Earnest, Urban Development Director
Tim Conklin, City Planner
Subject: Contractual Agreement
Background
The Fayetteville Planning Commission, in March of this year, had set a number of
conditions and requirements as part of their deliberations relative to a preliminary plat
covering properties owned by WHM Investments. The property in question is adjacent to
the Rupple road extension to serve the new location of the Fayetteville Boys and Girls
Club. One of the conditions was that the applicant would file a final plat covering the
properties in question. Filing of this plat would enable the City to complete the
acquisition of all parcels needed at their new site.
However, it became apparent several months later that the applicant was dissatisfied with
the terms and conditions required of him by the Planning Commission. In order to move
this important project along, discussions were initiated with several attorneys'
representing Mr. Mcllroy's interests.
Current Situation
On September 10, the Fayetteville Planning Commission heard the request for approval
of the final plat from the applicant. The terms and conditions proposed by the staff are
attached to this memo. The Commission, after some debate, granted the final plat after
deletion of items 7 and 8. Both of the items that were deleted dealt with language setting
up a mechanism to equitably assess a formula by which the applicant would assist in the
construction of Rupple Road. The formula is predicated on use of a rational nexus
formula between build out of the respective properties owned by Mr. McIlroy and impact
on the proposed road. We have also attached to this memo a copy of the calculations
used by our engineering department in developing the solution to this particular issue of
public -private partnership. The Planning Commission, while generally supportive of this
113 WEST MOUNTAIN 72701 501 521-7700
FAX 501 575-8257
approach, determined that this type of financial relationship between parties requires a
contract between the city and the applicant. It was for that reason that items 7 and 8 were
deleted from the final plat.
Recommendation
We have prepared a contract incorporating the terms and conditions that have been
agreed to by both parties. Approval of this contract will complete the discussions with
Mr. Mcllroy and will enable the City to secure the last parcel that is needed in their site
acquisition efforts. The city attorney has approved the contract as to form and substance.
A number of key city staff participated in these negotiations and this contract comes to
you with their endorsement.
•
•
FAYETTEVILLE
THE CITY OF FAYETTEVILLE, ARKANSAS
113 W. Mountain St.
Fayetteville, AR 72701
TO: Fayetteville Planning Commission
FROM: Tim Conklin, City Planner
THRU: Hugh Earnest, Urban Development Director
Kit Williams, City Attorney
DATE: September 10, 2001
FP 0I-07.00
Page I
FPL 01-7.00: Final Plat (WHM Investments, pp 439) was submitted by Mike Anderson of
Engineering Design Associates on behalf of Hayden Mcllroy for property located on Rupple
Road south of Wedington Drive. The property is zoned A-], Agricultural, R-1, Low Density
Residential, R -1 .5, Moderate Density Residential, R-2, Medium Density Residential, C- 1,
Neighborhood Commercial and contains approximately 90 acres with 7 lots proposed.
Findings: The Planning Division required the subject property to be processed through the
preliminary and final plat process in order to bring into compliance past lot splits that have not
been approved through the required planning process and to allow for the subdivision of
additional tracts. The initiation of this process was a result of the need to subdivide appropriate
tracts that will be developed with the Fayetteville Boys and Girls Club. Furthermore, this final
plat has been submitted in order to approve the sale of property to the Fayetteville Boys and Girls
Club and the legal transfer of ownership to the City of Fayetteville.
Tract 4 is currently owned by the Fayetteville Boys and Girls Club. Tract 6 is owned by the City
of Fayetteville. Tracts 1,2,3,5 and 7 are owned by WHM Land Investments. Tracts 4, 5, and 6 are
the future site of the Fayetteville Boys and Girls Club. Tract 5 will be given to the City to meet
future Parks Land Dedication requirements for this property which has already been approved by
the Planning Commission. Tract 6 has already been deeded to the City for a Parks Land
Dedication requirement related to the Meadowlands Development.
Pursuant to the Master Street plan 90 feet of right-of-way is being dedicated to the City for
Rupple Road as well as 35 feet for Persimmon Street. The city is not recommending any public
improvements as part of this subdivision due to past discussions and understandings with the
former Administration and Street Committee. In order to honor the past discussions and
understandings, the preliminary plat was approved varying the subdivision requirements with a
finding by the Planning Commission that an undo hardship unique to this property does exists
"that this project is in the best interest to the City, that due to the limited grant money it would be
S
FP 01-0 7.00
Page 2
an undo financial hardship to acquire these buildings due to the uniqueness of this project being
funded by grant money, that it would make financial constraints."
Recommendation: Approval by the full Planning Commission subject to the conditions listed
below.
Conditions of Approval:
A minimum 25' wide utility easement shall be provided from Meadowlands Drive located
in The Meadowlands, Phases I & I1, to the Rupple Road right-of-way.
2. At the time of development on Tract 7, the developer will be required to improve, build,
or be assessed for the construction of half of Persimmon along the south boundary of
Tract 7 based on current ordinances.
3. The final plat shall show the right-of-way dedication for Rupple Road, Wedington Drive
and Persimmon Street as required by the Master Street Plan. Dedication of right-of-way
on Wedington Drive shall be made by warranty deed to the City of Fayetteville.
4. A note shall be placed on the plat indicating that lots 1, 2, 3, & 7 may not use Rupple
Road right-of-way for access until the street is completed. Fines may be accessed to the
property owners by the City if damage to road work occurs prior to completion. The City
will construct a haul road to the Fayetteville Boys and Girls Club prior to construction of
Rupple Road.
5. Water will not be available to tracts 3, 4, 5, and 6 and sewer will not be available to tracts
3 and 4. Water and sewer shall be extended to these tracts at the time of development of
each tract. The City will extend water to tract 4 from Meadowlands Subdivision. Sewer
exists along the southern boundary of subdivision. At the time of development for each
tract, the tract developer shall evaluate the existing water and sewer capacity and shall
provide any upgrades or extensions if needed to serve each development.
6. All utilities shall be placed underground. Temporary overhead power may be installed to
serve the Fayetteville Boys and Girls Club construction for a maximum period of 24
months from the date of final plat approval.
7. The City has agreed to build Rupple Road, classified as a minor arterial, in order to
provide access to the proposed Fayetteville Boys and Girls Club. Staff is recommending
the developer pay, based on the rational nexus formula, an impact fee for a proportionate
share of the cost of Rupple Road as a Minor Arterial. Based on the formula, the applicant
will be assessed $176,724.25 for a road impact fee. The impact fee was based on the
projected future residential development of Tracts 3 & 7 that will be using Rupple Road.
At the time the Boys and Girls Club meet all requirements to obtain the Reynolds grant,
. O
FP 01-07.00
Page 3
WHM Investments shall pay the entire $176,724.25 if the City Council approves
construction of Rupple Road as a four lane street with curbs, gutters, and storm sewer.
If the City Council approves construction of a 2 lane street with plans for future widening
and at the time the Boys and Girls Club meet all requirements to obtain the Reynolds
grant, the developer shall:
a) Pay to the City $100,000.00 (non-refundable, not dependant on any
development of vacant lots),
b) Provide the City a letter of credit in the amount of $76,724.25 with additional
principal to be added each year based on the increase in the Consumer Price Index
during the previous calendar year, Such letter of credit will run for a term of six
years from date of when all conditions are met for the Fayetteville Boys and Girls
Club to obtain the Reynolds Grant and will be due upon the City completing the
widening of Rupple Road to four lanes with curbs, gutters, and storm sewer. In
the event, Rupple Road is not improved to such standards within six years, the
letter of credit shall be allowed to expire.
The projected future development of Tracts 3 & 7 are 81 single family units, 28 duplex
units, and 260 apartment units: If during the six year period indicated above in condition
#7 a development is approved by the Planning Commission in excess of any of the above
indicated units the developer will pay an additional impact fee for each unit in excess of
the above as follows:
a) For each excess single family unit $231.30 in cash and a letter of credit for
$154.20, total being $385.00. The total amount shall be paid if the road is four
lanes.
b) For each excess duplex unit $141.64 in cash and a letter of credit for $94.43, total
being $236.07. The total amount shall be paid if the road is four lanes.
c) For each excess apartment unit $320.51 in cash and a letter of credit for $213.67,
total being 534.18. The total amount shall be paid if the road is four lanes.
The cash impact fee and letter of credit will be delivered upon the Planning Commission
approving the final plat or large scale development. Any letters of credit received during
the six year period from the date the Boys and Girls Club meet all requirements, shall be
returned back to the developer if the road is not widened to four lanes with curbs, gutters,
and storm sewers during the six year period.
If after the six year period the developer presents.a preliminary plat to the Planning
Commission in excess of the projected units, the developer will pay an additional impact
i
FP 01-07.00
Page 4
fee for each unit in excess of the projections based on whether or not Rupple Road is
completed at that time as a four lane road, with curbs, gutters and storm sewer. If
completed, the total amount indicated above will be paid for each excess unit. If not
complete, the cash amount indicated above will be paid for each excess unit.
If during the six year period indicated above the developer has a final plat approved for
less than the projected units indicated above the $76,724.25 letter of credit will be
reduced for each unit less than the projected units indicated above. The developer will
receive a reduction for each unit less as follows:
a) For each less unit of single family in tract 7, a reduction in the letter of credit of
$154.20.
b) For each less unit of duplex in tract 7, a reduction in the letter of credit of
$94.43.
c)For each less unit of apartments in tract 3, a reduction in the letter of credit of
$213.67.
9. Upon the Boys and Girls Club meeting all requirements to obtain the Reynolds grant, all
on -site and off -site improvements for any development within this subdivision shall be
based upon the above provisions and terms. The above provisions and terms will apply to
WI -IM Investments and any subsequent assigns.
10: In the event the Boys and Girls Club fails to meet all requirements to obtain the Reynolds
grant and is not constructed within this subdivision, all on -site and off -site improvements
for any development on tracts within this subdivision shall be based on current ordinance
requirements at the time of development approval.
11. Plat Review and Subdivision comments (to include written staff comments mailed to the
applicant or his representative, and all comments from utility representatives - AR
Western Gas, SWBT, Ozarks, SWEPCO, Cox Communications)
Background:
The Preliminary Plat was reviewed at the February 28, 2001 Technical Plat review and the March
15, 2001 Subdivision Committee meeting. The Final Plat was reviewed at the August 29, 2001
Technical Plat Review meeting and August 30, 200I Subdivision Committee meeting.
s S
FP 01-0 7.00
Page 5
Staff has recommended a revised condition of approval regarding the developers responsibilities
related to Rupple Road based on the rational nexus formula and recommends this final plat be
presented to the full Commission.
INFRASTRUCTURE:
a) Water. See Conditions of Approval.
b) Sanitary sewer. Existing.
c) Streets. See Conditions of Approval.
d) Grading and Drainage. Not applicable for this project_
PLANNING COMMISSION ACTION: yes Required
Approved Denied
Date:
Comments:
CITY COUNCIL ACTION: Required
Approved Denied
Date: I I
The "CONDITIONS OF APPROVAL", beginning on page one of this report, are accepted
in total without exce tion by the entity requesting approval of this development item.
i
title
1
date
•
FPL 01-7.00 WHM
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FPL01-7 WHM Invest.
Page 3.14
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September 10. 2001
FPLOI-7 WHM Invest.
Page 3.15
•
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Mcllroy
Summary of Trip Generation Calculation
For 20 Dwelling Units of Apartments
August 13, 2001
Average Standard Adjustment Driveway
Rate Deviation Factor Volume
Avg_ Weekday 2 -Way Volume
6.63
2.98
1.00
133
7-9 AM Peak Hour Enter
0.08
0.00
1.00
2
7-9 AM Peak Hour Exit
0.43
0.00
1.00
9
7-9 AM Peak Hour Total
0.51
0.73
1.00
10
4-6 PM Peak Hour Enter
0.42
0.00
1.00
8
4-6 PM Peak Hour Exit
0.20
0.00
1.00
4
4-6 PM Peak Hour Total
0.62
0.82
1.00
12
Saturday 2 -Way Volume
6.39
2.99
1.00
128
Saturday Peak Hour Enter
0.00
0.00
1.00
0
Saturday Peak Hour Exit
0.00
0.00
1.00
0
Saturday Peak Hour Total
0.52
0.74
1.00
10
Note: A zero indicates no data available.
Source: Institute of Transportation Engineers
Trip Generation, 6th Edition, 1997.
TRIP GENERATION BY MICROTRANS
•
•
• Mcllroy
Summary of Trip Generation Calculation
For 40 Dwelling Units of Residential Condominium / Townhouse
August 13, 2001
Average Standard Adjustment Driveway
Rate Deviation Factor Volume
Avg. Weekday 2 -Way Volume
5.86
3.09
1.00
234
7-9 AM Peak Hour Enter
0.07
0.00
1.00
3
7-9 AM Peak Hour Exit
0.37
0.00
1.00
15
7-9 AM Peak Hour Total
0.44
0.69
1.00
18
4-6 PM Peak Hour Enter
0.36
0.00
1.00
14
4-6 PM Peak Hour Exit
0.18
0.00
1.00
7
4-6 PM Peak Hour Total
0.54
0.76
1.00
.22
Saturday 2 -Way Volume
5.67
3.10
1.00
227
Saturday Peak Hour Enter
0.25
0.00
1.00
10
Saturday Peak Hour Exit
0.22
0.00
1.00
9
Saturday Peak Hour Total
0.47
0.71
1.00
19
Note: A zero indicates no data available.
Source: Institute of Transportation Engineers
Trip Generation, 6th Edition, 1997.
TRIP GENERATION BY MICROTRANS
M
•
Mcllroy
Summary of Trip Generation Calculation
For 20 Dwelling Units of Single Family Detached Housing
August 13, 2001
Average. Standard Adjustment Driveway
Rate Deviation Factor Volume
Avg. Weekday 2 -Way Volume
9.57
3.69
1.00
191
7-9 AM Peak Hour Enter
0.19
0.00
1.00
4
7-9 AM Peak Hour Exit
0.56
0.00
1.00
11
7-9 AM Peak Hour Total
0.75
0.90
1.00
15
4-6 PM Peak Hour Enter
0.65
0.00
1.00
13
4-6 PM Peak Hour Exit
0.36
0.00
1.00
7
4.6 PM Peak Hour Total
1.01
1.05
1.00
20
Saturday 2 -Way Volume
10.09
3.67
1.00
202
Saturday Peak Hour Enter
0.51
0.00
1.00
10
Saturday Peak Hour Exit
0.43
0.00
1.00
9
Saturday Peak Hour Total
0.94
0.99.
1.00
19
Note: A zero indicates no data available.
Source: Institute of Transportation Engineers
Trip Generation, 6th Edition, 1997.
TRIP GENERATION BY MICROTRANS
w
lb
COLLECTOR STREETS provide traffic circulation within residential, commercial, and
industrial areas. They collect traffic from local or residential streets in neighborhoods and
channel it into the arterial system. Connections between arterials should be indirect to
discourage use by traffic from outside the neighborhood. In residential neighborhoods, frontage
along collectors is discouraged; houses should front on local or residential streets.
Design Service Volume: 4,000 vpd, 6,000 vpd with left turn bays
Speed: 25-30 mph
Traffic Lanes: Two 11' travel lanes, 10' turn bays where warranted
Parking Lanes: Two lanes provided. None when turn bay exists
Paved Width: 36' from back of curb
Right of Way: At least 70'
Multi -use trail: Two at least 6' wide, at least 10' from curb
Tree Planting areas: Two, at least 10' wide
Collector
MINOR ARTERIAL STREETS connect higher functional class facilities, etc. Residential
frontage is strongly discouraged. Access should be from perpendicular local or residential streets.
Design Service Volume: 12,200 vpd, 14,800 vpd with left turn bays
Speed: 35-40 mph
Traffic Lanes: Four 12' travel lanes, 11' turn lanes possible at intersections
Parking Lanes: None
Paved Width: 52' from back of curb, 59' with turn lane
Right of Way: At least 90'
Multi -use Trail: Two at least 6' wide, at least 10' from curb
Tree Planting Areas Two, at least 10' wide
90' -0"_H
Minimum
Minor Arterial
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Fayetteville, Arkansas, • GENERAL PLAN 2020 • December 1995
109
0
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X Agenda Request
Contract Review
Grant Review
STAFF REVIEW FORM
For the Fayetteville City Council meeting of October 1, 2001.
FROM:
Tim Conklin
Name
Planning
Division
Public Works
Department
ACTION REQUESTED: To adopt a resolution authorizing the Mayor and City Clerk to
execute the Rupple Road cost sharing contract with WHM Investments for the final
plat(FPL 01-7.00) as approved by the Planning Commission.. -
COST TO CITY:
Cost of this request
Account Number
Project Number
Category/Project Budget
Funds used to date
Remaining balance
Category/Project Name
Program Name
Fund
BT IEW: a�bsBudgeted Item R.1 L.B ci T 7, g get Adjustment Attached
-2a_aj
Budget Coordinator Administrative Services Director -
CO RA CT /G T/LEASE REVIEW:
A counti g Manager Date
City A torney Date
Purchasing Officer Date
GRANTING AGENCY:
ADA Coordin for Date
Intern Auditor Date
STAFF RECOMMENDATION: Staff recommends approval of this request. The Planning
Commission unanimously voted 9-0-0 to forward this to the City Council.
Division Hsed
afitment Director
�aef
Date
Admi 'strativ Service Date
Di or
l
a or Date
Cross Reference
New Item: Yes No
Prev Ord/Res#:
Orig Contract Date:
FA-YETTEVII,LE
THE CITY OF FAYETTEVILLE, ARKANSAS
DEPARTMENTAL CORRESPONDENCE
To: Tim Conklin, Planning Director
From: Heather Woodruff, City Clerk
Date: October 11, 2001
Attached is the resolution approving the contract with WHM Land Investments. The original
will be microfilmed and filed with the City Clerk.
cc: Nancy Smith, Internal Audit
015 04 City of Fayetteville 3/19/2002
aintenance/Inquiry 8:09:41
Document It Action
Reference Date Ref. Taken Brief Description
RES 10/02/2001 134 WHM LAND INVESTMENT/RUPPLE ROAD
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Keywords ..............: RES. 134-01
WHM LAND INVESTMENTS
MCILR0Y
RUPPLE ROAD
CONTRACT
BOYS AND GIRLS CLUB
COST SHARE AGREEMENT
File Reference #.......
Security Class........:
Expiration Date. ...
Date for Cont/Referred:
Name Referred to......:
Press Cmd 6 to update
cmdl-Return Cmd2-Check Out Cmd8-Retention Cmd3-End Press 'ENTER' to Continue
Cmd5-Abstract Yes No (c) 1986-1992 Munimetrix Systems Corp.
Retention Type:
**** Active
;ARCH WED
AMENDMENT TO CONTRACTUAL AGREEMENT
CONCERNING LETTER OF CREDIT
AND RUPPLE ROAD CONSTRUCTION
This amendment to the Contractual Agreement of October 10, 2001, by and
between the City of Fayetteville and WHM Land Investments, Inc. (WHM), is
entered into by and between the City of Fayetteville and the successors in title of
WHIM who are West Side Development Company, LLC (officers: Richard P.
Alexander, Robert J. Merry -Ship and John Nock) and Markham Hill Development
Company, LLC (same officers) (hereinafter referred to as "West Side Village") on
this L�- .day of April, 2007.
For and in consideration of the following promises and the boulevard
construction, the City of Fayetteville and West Side Village agree as follows:
1. The irrevocable letter of credit provided to the City by WHM Land
Investments, Inc. pursuant to the Contractual Agreement of October 10, 2001,
shall be extended through September, 2009 under the same terms and conditions
of the original contract except as follows:
(a) The amount of the irrevocable letter of credit shall not increase
for any increase of the Consumer Price Index after the January 2007 increase for
2006.
(b) The City may collect this letter of credit if the City Council has
approved and the Mayor has signed the construction contract for Rupple Road as a
four lane boulevard north of Persimmon toward Wedington by September of 2009
as outlined in the February 12, 2007, letter from West Side Village to Mayor Dan
Coody and the City Council. This letter is attached hereto as Exhibit A. Payment
of the Letter of Credit shall be due upon the City's Approval of the construction
contract for the Rupple Boulevard section north of Persimmon. The City agrees
that the construction contract shall provide that construction of the boulevard shall
begin no later than ninety days after approval of the contract.
2. If the City has failed to approve the construction contract for the
boulevard section of Rupple Road from Persimmon to Wedington by September
2009, West Side Village may terminate this Amendment to the Contractual
Agreement upon ten days' written notice to the City of Fayetteville.
In Agreement With All The Terms And Conditions Above, We Sign
Below.
CITY OFF YETTEVILLE WEST SIDE DEVELOPMENT CO., LLC.
MARKHAM DEVELOPMENT CO., LLC.
By:
AN COODY, Mayor
(} By:
RIC P. ALEXANDER
ATTEST:
By:
,trr,u,,,, &Mjj�-
SONDRAE.SMITH
•sr,.,City ClerWTreasurer By:
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a
FAYETTEV1 LLE
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