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5707900 - Mitigation Agreement: PE-1962-05 Vistas at MorningsideS CrrY OF 00& e j ley. 08/18/2008 10 15 35 AM 5707900 Recording Fee $50 00 Page 1 of 9 Agreement GOVERNMENT, CITY OF SPOKANE VALLEY Spokane County Washington 11707 E Sprague Ave • Suite 106 • Spokane Valley WA 99206 509 921 1000 • Fax 509 921 1008 • cityhall@spokanevalley org July 15, 2008 Return Address City of Spokane Valley 11707 E Sprague Avenue, Suite 106 Spokane Valley, WA 99206 PLEASE TYPE OR PRINT NEATLY AND CLEARLY ALL INFORMATION Document Title(s) Voluntary Mitigation Agreement Vistas at Morningside Heights PE-1962-05 Reference Numbers of Related Documents • Mitigation Agreement, 4 pages • Exhibit A Preliminary Plat Property Description, 1 page • Exhibit B Traffic Signal Cost, 1 page • Exhibit C Proportionate Share of Improvements Letter, 2 pages Grantor(s) (Last Name, First and Middle Initial) • City of Spokane Valley Grantee(s) (Last Name, First and Middle Initial) • Summit Properties, Inc Legal Description (i a Section/Township/Range/1/4 Section - Abbreviated form is acceptable) • Section 30, Township 25 North, Range 45 EWM, Spokane County, Washington Sir Assessor's Tax Parcel ID Number 55305 3716 (index only) The county Auditor will rely on the information provided on this form The Staff will not read the document to verify the accuracy or completeness of the indexing information provide herein Sign below only if your document is Non-Standard. I am requesting an emergency non-standard recording for an additional fee as provided in RCW 3618 010 1 understand that the recording processing requirements may cover up or otherwise obscure some parts of the text of the original document Fee for non-standard processing is $50 Signature of Requesting Party ~ z VOLUNTARY MITIGATION AGREEMENT VISTAS AT MORNINGSIDE HEIGHTS PE-1962-05 This Mitigation Agreement ("Agreement") is entered into by and between Summit Properties Inc ("Developer"), a Washington corporation, having offices for the transaction of business at 12720 E Nora, Suite E, Spokane WA 99216, and the City of Spokane Valley ("City"), a political subdivision of the State of Washington, hereinafter jointly referred to as "Parties" RECITALS 1 This agreement is entered into by the Parties pursuant to RCW 82 02 020 to mitigate a direct impact identified as a consequence of the Spokane County preliminary plat application, PE-1962-05 2 The Developer is the owner/developer of certain real property of approximately 120 62 acres and generally located east of and adjacent to the intersection of Chapman Road and Windsor Drive, northerly of Morrungside Heights Drive, and is situated in Section 30, Township 25 North, Range 45 EWM, in Spokane County, Washington Said property is more specifically described in Exhibit A attached hereto and by this reference incorporated herein 3 The Developer has received approval of the preliminary plat identified as Vistas at Morningside Heights (the Development) a residential development which will increase traffic congestion and directly impact existing transportation mfrastructure at the intersection of Sprague Avenue and Barker Road located within the City of Spokane Valley Mitigation of these impacts has been required as part of the approval process for the final plat pursuant to the Hearing Examiner Findings, Conclusions and Decision (PE- 1962-05) entered into on the 18th day of April, 2006 and approving the preliminary plat Vistas at Morrungside Heights which contains the following condition of approval CITY OF SPOKANE VALLEY TRAFFIC ENGINEER 1. Prior to any final plat, the applicant shall enter into a development agreement with the City of Spokane Valley to make a proportionate share contribution towards improvements at the intersection of Sprague/Barker. 4 The Parties are desirous of entering into an Agreement which provides for the payment of a proportionate share of improvements deemed necessary at the intersection of Sprague Ave and Barker Road which are a direct result of traffic impacts associated with the Development Page 2 5 The Developer s proportionate share shall be based on the total number of trips estimated for the Development and has been calculated in the manner set forth in Exhibit B attached hereto and by this reference incorporated herein AGREEMENT NOW, THEREFORE, in consideration of the mutual covenants and conditions hereafter set forth, the Developer and the City hereto agree as follows 1 Voluntary Agreement This Agreement, including all attached documents, is a voluntary agreement as that term is used in RCW 82 02 020 The mitigation fees charged herein are proportional to the traffic-related impacts generated by the Development The parties acknowledge that the project is reasonably necessary to mitigate the direct traffic impact of the Development In the event this mitigation agreement is breached by the Developer, all of the City's obligations under this agreement shall terminate In the event this ntigation agreement is determined by a court to be invalid, the City shall refund the unexpended portion of mitigation fees, and the City's obligations under this agreement shall terminate 2 Project The protect shall consist of the installation of a traffic light at the intersection of Sprague and Barker or other traffic control device as deemed appropriate by the City of Spokane Valley The mitigation fee shall be based upon the cost of the traffic signal 3 Mitigation Fee The Developer shall pay $40,097, which has been determined to be the Developer's proportionate contribution to the Project for mitigation of future traffic impacts related to the Development (See Exhibit B) This traffic mitigation fee shall be used for the design and/or construction of the improvements to this intersection 4 Payment The Developer agrees to pay all of the above identified mitigation fee at such time as traffic signal warrants, as defined by the Manual on Uniform Traffic Control Devices (MUTCD), at the intersection of Sprague Ave and Barker Road are met The City Traffic engineer shall determine when signal warrants are met Payment shall be made within 30 days after receiving notice from the City that warrants are met If payment is not timely received the City may immediately access the funds secured by the letter of credit described below A letter of credit, which gives the City a unilateral right to access the funds pursuant to this agreement from a financial institution, shall be provided to the City upon execution of this agreement and prior to acceptance of this agreement by the City 5 Compliance with RCW 82.02.020 Payment collected by the City will be held in a mitigation fee reserve account and may only be expended to fund the design, right-of- way acquisition, and construction of the Project Payments shall be expended within five years of collection The City shall be entitled to reimbursement from the mitigation fee reserve account for any funds it may expend for the design, nght-of-way acquisition, and construction of the Project prior to the collection of the fee Any funds in the mitigation fee reserve account not expended within five years shall be refunded by the City with interest as provided in RCW 82 02 020 Page 3 6 Notice: All communications, notices or demands of any kind which a party under this Agreement is required or desires to give to any other party shall be in writing and be either (1) delivered personally, (2) sent by facsimile transmission with an additional copy mailed first class, or (3) deposited in the U S mail, certified mail postage prepaid, return receipt requested and addressed as follows If to the City City of Spokane Valley 11707 E Sprague Ave, Suite 106 Spokane Valley, WA 99206 Fax (509) 921-1008 Attn City Manager If to the Developer Summit Properties Inc 12720 E Nora, Suite E Spokane WA 99216-1197 7 Successors This Agreement shall be binding on and inure to the benefit of the successors and the assigns of the Parties 8 Governing Law This Agreement shall be construed in accordance with the laws of the State of Washington Any action for enforcement of this Agreement shall be brought in a court of competent jurisdiction in Spokane County, Washington or as otherwise provided by statute 9 Modifications No modification or amendment of this Agreement shall be valid until the same is reduced to writing and executed with the same formalities as the present Agreement 10 Waiver No officer, employee, agent or otherwise of the City has the power, right or authority to waive any of the conditions or provisions to this Agreement No waiver or any breach of this Agreement shall be held to be a waiver of any other or subsequent breach 11 Representation This Agreement forms a fully integrated agreement between the Parties No other understandings, oral or otherwise, regarding the subject matter of this Agreement shall be deemed to exist or to bind any of the Parties hereto All Parties have read and understand all of the Agreement, and now state that no representation, promise or agreement not expressed in the Agreement has been made to induce any Party to execute the same 12 Authors Both Parties to this Agreement represent and certify that they have full authority and power to enter into and carry out this Agreement The persons signing this Agreement represent that they have authority to act for and bind their respective principals Page 4 IN WITNESS WHEREOF the Parties have executed this Agreement this ~ "'piaY of 016GR , 2006 DEVE R- SUMMI PROPERTIES INC: 7 By V Title ~ame STATE OF WASHINGTON ) ss County of Spokane ) Pr6xr-Ndovi On this 9 UF"' day of 2006 before me, the undersigned, a Notary Public in and for the State of Washington, duly commissioned and sworn, personally appeared - ~ ,n, to me known to be the _K v,.'" Yy-e..s ► ~ ,NI- of s ~ ~ ~ Pf Dee-r- LQ-S , 7-- n c. , , the corporation that executed the foregoing instrument, and acknowledged the instrument to be the free and voluntary act and deed of the corporation, for the uses and purposes therein mentioned, and on oath stated that he is authorized to execute the instrument WITNESS my hand and official seal hereto affixed the day and year in this certificate above written CON* ~s 9 = NOTARY PUB IC, in and for the State of o = oo c. Washington, residing at -S c •c~ ,e • s _ My commission expires --a v Og ~~'%,yQlpN Printed Name 011111111110% CITY OF SPOKANE VALLEY: David Mercier, City Manager /%y Dlo ATTEST /I - e'r &V , ul~ ~ is Bainbridge, City Clerk APPROVED AS TO FORM ell Office of the City Atto EXHIBIT A THE VISTAS AT MORNINGSIDE HEIGHTS PRELIMINARY PLAT PROPERTY DESCRIPTION Tract "C" of the Plat of Morningside Heights 3rd Addition as per plat recorded in Book 29 of Plats, pages 69-72, Spokane County, Washington Together with the S W 114 of the N E 114 and the N W 114 of the S E 114 all in Section 30, T 25N, R 45E, W M, Spokane County, Washington Except beginning at the Southeast comer of Lot 1, Block 3, of the Plat of Windsor Ridge Second Addition as per plat recorded in Book 29 of Plats, pages 18 and 19, in the Spokane County Auditor's office Spokane, Washington, thence N 00°3235"E, along the East line of said Lot 1 and West line of the S E 114 of said Section 30, 135 68 feet to the Northeast corner of said Lot 1, thence S 58°37'06"E , 56 00 feet, thence S 24°4446"W , 117 28 feet, to the Point of Beginning Except, Beginning at the Northeast corner of the S W 114 of the N E 114 of said Section 30, thence S 00°35'15"W, along the East line of said S W 114 of the N E 114, 1305 88 feet, thence N 89°16'53"W, 462 53 feet, to the beginning of a curve to the right the radius of which bears N 00°43'07"E , a distance of 250 00 feet, thence along said curve to the right, through a central angle of 39°47'03'; an arc distance of 173 59 feet to a point of tangency, thence N 49°29'50"W, 330 32 feet, to the beginning of a curve to the right the radius of which bears N 40°30'10"E , a distance of 250 00 feet, thence along said curve to the right, through a central angle of 21 °09'06'; an arc distance of 92 29 feet, thence N 28°20'44"W, 40 67 feet to a point on a curve to the left the radius of which bears N 26°40'01 "W, a distance of 480 00 feet, thence along said curve to the left , through a central angle of 67°12'01" ; an arc distance of 562 98 feet to a point of tangency, thence N 03°52'02"W, 465 28 feet, to the North line of the S W 114 of the N E 114 of said Section 30, thence S 89°2624"E, along said North line, 713 18 feet to the Point of Beginning [6 ourlane S Exhibit B Traffic Signal Cost Engineer's Estimate Description Unit Q Price Total 1 HMA CL 1/2" PG 70-28, 0 42 FT DEPTH S Y 5 200 15 00 $ 78,000 2 CRUSHED SURFACING BASE COURSE, 0 75 FT S Y 5,800 8 00 $ 46,400 3 CEMENT CONC TRAFFIC CURB AND GUTTER L F 1,900 15 00 $ 28,500 4 CEMENT CONC PEDESTRIAN CURB L F 72 12 00 $ 864 5 PLASTIC LINE L F 1,600 0 70 $ 1,120 6 PLASTIC WIDE LINE L F 2,300, 2 50 $ 5,750 7 PLASTIC TRAFFIC ARROW EA 8 100 00 $ 800 8 PLASTIC CROSSWALK LINE S F 256 5 00 $ 1,280 9 PLASTIC STOP LINE L F 130 9 00 $ 1,170 10 CEMENT CONC SIDEWALK S Y 3,800, 30 00 $ 114,000 11 CEMENT CONC SIDEWALK RAMP EA 8 1,00000 $ 8,000 12 TRAFFIC SIGNAL SYSTEM INSTALLATION LS LS 175,000 00 $ 175 000 13 TRAFFIC SIGNAL PARTS LS LS 60,000 00 $ 60,000 14 ENGINEERING, INSPECTION, SURVEYING LS LS 80,000 00 $ 80,000 Total $ 460,884 Assumes 4-leg Intx, 3 travel lanes, bike lanes, sidewalks, 200' legs Developer's proportionate share = 8 70% (see Exhibit C for detail on proportionate share calculation) $ 40,097 6 a ~ x w~c3.r C September 15, 2006 W O No 0535 Inga Note, P E City of Spokane Valley, Public Works 11707 E Sprague Avenue, Ste 106 Spokane Valley, WA 99206 L RE Proportionate Share of Improvements at Sprague & Barker Generated by Vistas at Mortungside Heights Dear Inga Rich Dahm is finalizing the first phase of the Vistas at Mornmgside Heights and an issue has arisen regarding improvements required at the intersection of Sprague & Barker A letter was submitted from Sunburst Engineering to Scott Engelhard, Spokane County Engineering, and yourself on January 6, 2006 which addressed that issue A copy of this letter is attached This letter specifies that the proportionate share required of the Vistas at Moriungside Heights at Sprague & Barker is 8 7% when examining traffic volumes anticipated at project completion The proposed improvement, a roundabout, will create substantially more capacity than that required to accommodate only the additional traffic from Vistas at Morrungside Heights Total capacity which can be accommodated with this improvement is 1,889 peak hour vehicles versus the 1,261 anticipated at build out The proportionate share based on total capacity is 5 8% The following is an excerpt of the January 6, 2006 letter which specifically addresses the intersection of Sprague & Barker "To address the needs of this intersection, it is recommended that the Vistas at Morningside Heights pay a proportionate share (8 7%) of the improvements to this intersection This payment should be made after • Chapman Road is extended from Vistas at Morrungside Heights, OY • the 200th lot is approved within Vistas at Mornmgside Heights, and, • when either the level of service has dropped below acceptable standards in the field, or a safety situation has arisen which can be addressed by changing the traffic control The need for improvements at this intersections should be checked with the approval of each phase after Chapman Road is extended, but not more often than once per year " 4310 S. Ball Dr. • Veradale, WA 99037 - PH: (509) 924-2155 - FX: (509) 228-9440 - www.sunburstengr.com SUNBURST ENGINEERING Proportionate Share of Improvements at Sprague & Barker Generated by Vistas at Morningside Heights September 15, 2006 Page 2 This morning when I spoke with you, you stated that you are waiting to get direction from Mike Connelly before preparing a cost estimate for this roundabout When calculating the proportionate share for the Vistas at Morrungside Heights and as was stated throughout the traffic study, right-of-way costs should be deducted Please let me know if you need additional information, and I will supply whatever I have that would be helpful Sincerely, Sunburst Engineering G Ann L Winkler, P E Traffic Engineer cc John Hohman, Spokane Valley Public Works Rich Dahm, Summit Properties, Inc file WashingtonTrust Bank Jill IRREVOCABLE STANDBY LETTER OF CREDIT NO 22941 DATE OCTOBER 10, 2006 AMOUNT $40,097 00 City of Spokane Valley 11707 E Sprague, Suite 106 Spokane Valley, WA 99206 Attn John Hohman Gentlemen We hereby establish our Irrevocable Standby Letter of Credit No 22941 in your favor for the account of SUMMIT PROPERTIES, INC, 12720 E Nora Avenue, Suite E, Spokane, WA 99216-1197 up to the aggregate amount of FORTY THOUSAND NINETY SEVEN AND NO/100--------Dollars ($40,097 00) U S currency available by your draft(s) drawn at sight on us and presented to Washington Trust Bark on or before OCTOBER 10, 2007 or any extended date covering Vista at Morningside Heights 5th Addition and accompanied by the following 1 A signed statement from the City of Spokane Valley reading exactly as follows "I, the undersigned duly authorized representative of the City of Spokane Valley, hereby certify that the draft drawn under this Letter of Credit represents the amount of money required to complete the subdivision improvements and/or other work as is incidental and related thereto in accordance with the drawings and specifications as submitted to and approved by the City of Spokane Valley " 2 The original of this Letter of Credit It is a condition of this Letter of Credit that it shall be automatically extended, without amendment, for an additional period of one year from the present expiration date or each future expiration date, unless we have notified you in writing not less than thirty (30) days before such expiration date, that we elect not to renew this Letter of Credit All written notification shall be sent via registered mail All drafts presented under the credit must contain the clause "Drawn under Washington Trust Bank Letter of Credit No 22941" Any and all banking charges, other than those of the issuing bank, are for the account of the beneficiary We hereby engage with the drawers and bona fide holders of drafts drawn. under and in compliance with the terms of this Letter of Credit that the drafts will be duly honored upon presentation and delivery of documents, as specified, to Washington Trust Bank, International Department, 717 W Sprague Ave, Spokane, Washington 99201, on or before OCTOBER 10, 2007 or any extended date All drawings under this credit will be governed by the Uniform Customs & Practice for Documentary Credits (1993 Revision) International Chamber of Commerce Publication No 500 Sincerely, Renne Ditton Assistant Vice President Commercial Services Group Washington Trust Financial Center P 0 Box 2127, Spokane, WA 99210-2127 (509) 353-4177 Fax (509) 353-3905