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Accolade Apartments RZ 11-007AQA COUNTY RECORDER Christopher D. Rich AMOUNT .DO 12 BOISE IDAHO 04!11/12 12:02 ~M DEPUTY Bonnie Oberbillig I(I I'~I'll'I~'lll'I~~IIIII'~I'1'II ~1I RECORDED-REQUEST Of ~ i i i! f I Meridian City 11''E~3~~4~ DEVELOPMENT AGREEMENT PARTIES: 1. City of Meridian 2. Gramercy, LLC, Owner/Developer THIS DEVELOPM T AGREEMENT (this Agreement}, is made and entered into this day of , 2012, by and between City of Meridian a munici al p corporation of the State of Idaho, hereafter called CITY, and Gramercy, LLC, whose address is P.O. Box 344, Meridian, ID 83680, hereinafter called OWNER/DEVELOPER. 1. RECITALS: 1.1 WHEREAS, Owner/Developer is the sole owner, in law and/or equity, of certain tract of land in the County of Ada, State of Idaho described in Exhibit A for each owner, which is attached hereto and by this reference incorporated herein as if set forth in full, herein after referred to as the Property; proof of ownership is provided Recorded Warranty Deed dated February 29, 2012 and is hereby attached and Exhibit "B"; and 1.2 WHEREAS, I.C. § 67-6511 A, Idaho Code, provides that cities may, by ordinance, require or permit as a condition of re-zoning that the Owner /Developer make a written commitment concerning the use or development of the subject Property; and 1.3 WHEREAS, City has exercised its statutory authority by the enactment of Ordinance 11-5B-3, which authorizes development agreements upon the annexation and/or re-zoning of land; and 1.4 WHEREAS, Owner/Developer have submitted an application for annexation and re-zoning of the Property described in Exhibit A, and has requested a designation of R-40 (High Density Residential District), (Municipal Code of the City of Meridian); and 1.5 WHEREAS, Owner/Developer made representations at the public hearings both before the Meridian Planning & Zoning Commission and before the Meridian City Council, as to how the subject Property will be developed and what improvements will be made; and DEVELOPMENT AGREEMENT -ACCOLADE APARTMENTS (RZ 11-007) PAGE 1 OF 10 1.6 WHEREAS, record of the proceedin s for there uested a g q nnexatlon and zoning designation of the subject Pro ert held before the • p Y Planning & Zoning Commission, and subse uentl before the Ci q y ~' Council, include responses of government subdivisions rovidin p g services within the City of Meridian plannin 'urisdiction and gJ received further testimony and comment; and 1.7 WHEREAS, City Council, the 20th da of March 2012 has Y , approved Findings of Fact and Conclusions of Law, set forth in Exhibit "B", which are attached hereto and b this reference Y incorporated herein as if set forth in full, hereinafter referred to as the Findings); and 1.8 WHEREAS, the Findings require the Owner/ Develo er to enter into p a development agreement before the City Council takes final action on annexation and zoning designation; and 1.9 OWNER/DEVELOPER deem it to be in their best interest to be able to enter into this Agreement and acknowledges that this Agreement was entered into voluntarily and at his ur in and gg requests; and 1.10 WHEREAS, City requires the Owner/Developer to enter into a development agreement for the purpose of ensuring that the Pro e p ~Y is developed and the subsequent use of the Property is in accordance with the terms and conditions of this development agreement, herein being established as a result of evidence received b the Cit in the . y y proceedings for zoning designation from government subdivisions providing services within the planning jurisdiction and from affected property owners and to ensure re-zoning designation is in accordance with the amended Comprehensive Plan of the City of Meridian on April 19, 201 1, Resolution No. 11-784, and the Zoning and Development Ordinances codified in Meridian Unified Development Code, Title 1 1. NOW, THEREFORE, in consideration of the covenants and conditions set forth herein, the parties agree as follows: 2. INCORPORATION OF RECITALS: That the above recitals are contractual and binding and are incorporated herein as if set forth in full. 3. DEFINITIONS: For all purposes of this Agreement the followin words g terms, and phrases herein contained in this section shall be defined and rote retell as herein provided for, unless the clear context of the presentation of the same re uires otherwise: q DEVELOPMENT AGREEMENT -ACCOLADE APARTMENTS (RZ 11-007) PAGE 2 OF 10 3.1 CITY: means and refers to the Ci of Meridian a ' tY party to this Agreement, which is a municipal Corporation and overnmen ... g t subdivision of the state of Idaho, organized and existin b virtue g y of law of the State of Idaho, whose address is 33 East Broadwa Avenue Meridian y ,Idaho 83642. 3.2 OWNER/DEVELOPER: means and refers Gramerc LLC who y, se address is P.O. Box 344, Meridian, ID 83680, the art that is p Y developing said Property and shall include an subse uent owner Y q and/or developer(s) of the Property. 3.3 PROPERTY: means and refers to that certain arcel s of Pro ert p () p Y located in the County of Ada, City of Meridian as described in Exhibit A describing the parcels to be re-zoned R-40 Hi h Densit . ( g Y Residential District} attached hereto and by this reference incorporated herein as if set forth at length. 4. USES PERMITTED BY THIS AGREEMENT: 4.1 The uses allowed pursuant to this Agreement are onl those uses ,, y allowed under City s Zoning Ordinance codified at Meridian Unified Development Code § 11-2A-2. 4.2 No change in the uses specified in this Agreement shall be allowed without modification of this Agreement. 5. CONDITIONS GOVERNING DEVELOPMENT OF SUBJECT PROPERTY: 5.1. Owner/Developer shall develop the Property in accordance with the following special conditions: a. Development of this site shall be restricted to amulti-family develo ment p consisting of 264 multi-family units, clubhouse, four (4} garages and numerous carports. Amenities shall include the following: a pool, a 1,870 square foot club house/rental office, a playground, a pergola, a tot lot and an internal pathway network. b. Development of this site shall substantially comply with the site lan . ,. p landscape plan and building elevations attached in Exhibit A. c. Maximum height of the structures shall not exceed 35 feet. d. Prior to the issuance of a certificate of zoning compliance, the a licant shall . pp provide legally binding documents that state the maintenance and ownershi .... p responsibilitlesfnr the management of the development and the res onsible p party shall be a single agency overseeing the entire multi-famil Y development. e. The 36 garage spaces shall be used for vehicle (automobile arkin , )p g DEVELOPMENT AGREEMENT -ACCOLADE APARTMENTS (RZ 11-007) PAGE 3 OF 10 f. The applicant shall provide a private street connection to Lot 2 Bl ock 2 along the southern boundary. g. The southern and southwestern boundary shall include denser landsca in pg (e.g. shrubs, evergreens, deciduous trees and ornamental rasses and g ) wrought iron fencing as proposed. All of the perimeter landsca in for the mul ' p g ti-family development shall be installed with Phase 1. The conifers proposed along the southern boundary shall be 8 feet in height at the time of planting. 6. COMPLIANCE PERIOD/CONSENT TO REZONE: This A reement and g the commitments contained herein shall be terminated, and the zonin desi nation reversed . g g upon an uncured material default of the Owner and/or Developer or Owner's/Develo er's p heirs, successors, assigns, to comply with Section 5 entitled "Conditions Governin g Development of Subject Property" of this agreement within two ears of the date this . Y Agreement is effective, and after the City has complied with the notice and hearin g procedures as outlined in Idaho Code § 67-6509, or any subsequent amendments or recodifications thereof. 7. DEFAULT/CONSENT TO DE-ANNEXATION AND REVERSAL OF ZONING DESIGNATION: 7.1 Acts of Default. Either party's failure to faithfully comply with all of the terms and conditions included in this Agreement shall constitute default under this Agreement. 7.2 Notice and Cure Period. In the event ofOwner/Developer's default of this Agreement, Owner and/or Developer shall have thirty (30) days from receipt of written notice from City to initiate commencement of action to correct the breach and cure the default, which action must be prosecuted with diligence and com leted within p one hundred eighty (180) days; provided, however, that in the case of any such default that cannot with diligence be cured within such one hundred eighty (180) day period, then the time allowed to cure such failure may be extended for such period as may be necessary to complete the curing of the same with diligence and continuity. 7.3 Remedies. In the event of default by Owner /Developer that is not cured after notice as described in Section 7.2, Owner /Developer shall be deemed to have consented to modification of this Agreement and de-annexation and reversal of the zoning designations described herein, solely against the offending portion of Property and upon City's compliance with all applicable laws, ordinances and rules, including any applicable provisions of Idaho Code §§ 67-6509 and 67-6511. Owner and/or Developer reserve all rights to contest whether a default has occurred. This Agreement shall be enforceable DEVELOPMENT AGREEMENT -ACCOLADE APARTMENTS (RZ 11-007) PAGE 4 OF 10 in the Fourth Judicial District Court in Ada Coun b either Ci or tY Y tY Owner/Developer, or by any successor or successors in title or b the Y assigns of the parties hereto. Enforcement ma be sou ht b an Y g Y appropriate action at law or in equity to secure the s ecific erf p p ormance of the covenants, agreements, conditions, and obligations contained herein. 7.4 Delay. In the event the performance of any covenant to be erformed p hereunder by either Owner /Developer or City is delayed for causes that are beyond the reasonable control of the party responsible for such performance, which shall include, without limitation, acts of civil disobedience, strikes or similar causes, the time for such performance shall be extended by the amount of time of such Bela . Y 7.5 Waiver. A waiver by City of any default byOwner/Developer of an Y one or more of the covenants or conditions hereof shall apply solely to the default and defaults waived and shall neither bar any other rights or remedies of City nor apply to any subsequent default of an Y such or other covenants and conditions. 8. INSPECTION: Owner/Developer shall, immediately u on com letion of . p p any portion or the entirety of said development of the Property as required by this A Bement . ~' or by City ordinance or policy, notify the City Engineer and request the Ci En ineer's . ~' g inspections and written approval of such completed improvements or portion thereof in accordance with the terms and conditions of this Agreement and all other ordinances of the City that apply to said Property. 9. DEFAULT: 9.1 In the event Owner/Developer, or Owner/Developer's heirs, successors, assigns, or subsequent owners of the Property or any other person acquiring an interest in the Property, fail to faithfully comply with all of the terms and conditions included in this Agreement in connection with the Property, this Agreement may be terminated by the City upon compliance with the requirements of the Zoning r finance. 9.2 A waiver by City of any default by Owner/Developer ofany one or more of the covenants or conditions hereof shall apply solely to the breach and breaches waived and shall not bar any other rights or remedies of City or apply to any subsequent breach of any such or other covenants and conditions. 10. REQUIREMENT FOR RECORDATION: City shall record either a memorandum of this Agreement or this Agreement, including all of the Exhibits, at DEVELOPMENT AGREEMENT -ACCOLADE APARTMENTS (RZ 11-007) PAGE 5 OF 10 Owner's/Developer's cost, and submit proof of such recordin to Owner ' g /Developer, prior to the third reading of the Meridian Zoning Ordinance in connection with - ' there zoning of the Property by the City Council. If for any reason after such recordation the Ci ' tY Council fails to adopt the ordinance in connection with the annexation and zonin of th g e Property contemplated hereby, the City shall execute and record an a ro riate instrument of r 1 of pp p e ease this Agreement. 11. ZONING: City shall, following recordation of the dul a roved A eem y pp gr ent, enact a valid and binding ordinance zoning the Property as specified herein. 12. REMEDIES: This Agreement shall be enforceable in an court of com etent . Y p jurisdiction by either City orOwner/Developer, or by any successor or successors in title or by the assigns of the parties hereto. Enforcement may be sou ht b an a ro riate action at g Y pp p law or in equity to secure the specific performance of the covenants, a reements conditions . g > and obligations contained herein. 12.1 Subject to Sections 6 and 7 of this Agreement, in the event of an uncured material breach of this Agreement, the arties a ree that Ci p g ty and OwnerlDeveloper shall have thirty (30) days after delivery of notice of said breach to correct the same prior to the non-breaching party's seeking of any remedy provided for herein; provided, however, that in the case of any such default which cannot with diligence be cured within such thirty (30) day period, if the defaulting party shall commence to cure the same within such thirty (30) day period and thereafter shall prosecute the curing of same with diligence and continuity, then the time allowed to cure such failure maybe extended for such period as maybe reasonabl necessa to Y rY complete the curing of the same with diligence and continuity. 12.2 In the event the performance of any covenant to be performed hereunder by either Owner/Developer or City is delayed for causes which are beyond the reasonable control of the party responsible for such performance, which shall include, without limitation, acts of civil disobedience, strikes or similar causes, the time for such performance shall be extended by the amount of time of such delay. 13. SURETY OF PERFORMANCE: The City may also require sure bonds, . ~' irrevocable letters of credit, cash deposits, certified check or negotiable bonds, as allowed under Meridian City Code § 11-5-C, to insure that installation of the improvements, which the Owner/Developer agrees to provide, if required by the City. 14. CERTIFICATE OF OCCUPANCY: The Owner/ Developer a ees that no . ~' Certificates of Occupancy will be issued until all improvements are completed, unless the City and Owner/ Developer has entered into an addendum agreement statin when the g improvements will be completed in a phased developed; and in any event, no Certificates of DEVELOPMENT AGREEMENT -ACCOLADE APARTMENTS (RZ 11-007) PAGE 6 OF 10 Occupancy shall be issued in any phase in which the im rovement ' p shave not been installed, completed, and accepted by the City. 15. ABIDE BY ALL CITY ORDINANCES: That Owner/D eveloper agree to abide by all ordinances of the City of Meridian and the Pro ert shall ' . p y be subs ect to de- annexation if the owner or his assigns, heirs, or successors shall not meet the con ' ' ditions contained in the Findings of Fact and Conclusions of Law, this Develo ment A r . , p g Bement, and the Ordinances of the City of Meridian. 16. NOTICES: Any notice desired by the arties and/or re uired ' p q by this Agreement shall be deemed delivered if and when personall delivered or three 3 da s Y () y after deposit in the United States Mail, registered or certified mail, osta a re aid return re ' p g p p ceipt requested, addressed as follows: CITY: City Clerk City of Meridian 33 E. Broadway Ave. Meridian, ID 83642 with copy to: City Attorney City of Meridian 3 3 E. Broadway Avenue Meridian, ID 83642 0 WNER/DEVELOPER Gramercy, LLC P.O. Box 344 Meridian, ID 83680 16.1 A party shall have the right to change its address by deliveren to the g other party a written notification thereof in accordance with the requirements of this section. 17. ATTORNEY FEES: Should any litigation be commenced between the parties hereto concerning this Agreement, the prevailing party shall be entitled in addition to any other relief as may be granted, to court costs and reasonable attorne 's fees as Y determined by a Court of competent jurisdiction. This provision shall be deemed to be a separate contract between the parties and shall survive any default, termination or forfeiture of this Agreement. 18. TIME IS OF THE ESSENCE: The parties hereto acknowled e and a ree g g that time is strictly of the essence with respect to each and eve term condition and .. ~' provision hereof, and that the failure to timely perform any of the obligations hereunder shall constitute a breach of and a default under this Agreement by the other a so failin to p ~Y g perform. DEVELOPMENT AGREEMENT -ACCOLADE APARTMENTS (RZ 11-007) PAGE 7 OF 1 O 19. BINDING UPON SUCCESSORS: This A reem ' . g ent shall be binding upon and inure to the benefit of the parties' res ective heirs successors ' . p ,assigns and personal representatives, including City's corporate authorities and their successors in office. T ' his Agreement shall be binding on the Owner/Develo er of the Pro e eac p p rty, h subsequent owner and any other person acquiring an interest in the Pro e . l~othin herein ' p ~Y g shall in any way prevent sale or alienation of the Property, or portions thereof exce t that an p y sale or alienation shall be subject to the provisions hereof and an successor owner Y or owners shall be both benefited and bound by the conditions and restrictions herein ex ress ' p ed. City agrees, upon written request ofOwner/Developer, to execute appro riate and recordable eviden p ce of termination of this Agreement if City, in its sole and reasonable discretion had determined that Owner/Developer has fully performed its obli ations under this A reement. g g 20. INVALID PROVISION: If any provision of this A reement is held n g of valid by a court of competent jurisdiction, such provision shall be deemed to be excised from this Agreement and the invalidity thereof shall not affect an of the other rovision . y p s contained herein. 21. FINAL AGREEMENT: This Agreement sets forth all romises p inducements, agreements, condition and understandings between Owner/Develo er and Ci p ty relative to the subject matter hereof, and there are no promises, a reements conditions or . g understanding, either oral or written, express or implied, between Owner/ Develo er and p City, other than as are stated herein, Except as herein otherwise rovided no subse uent p ~ q alteration, amendment, change or addition to this Agreement shall be bindin u on the gp parties hereto unless reduced to writing and signed by them or their successors in interest or their assigns, and pursuant, with respect to City, to a duly adopted ordinance or resolution of City. 21.1 No condition governing the uses and/or conditions governin re-zonin of the g g subj ect Property herein provided for can be modified or amended without the approval of the City Council after the City has conducted public hearings in .. ~ accordance with the notice provisions provided for a zoning designation and/or amendment in force at the time of the proposed amendment. 22. EFFECTIVE DATE OF AGREEMENT: This Agreement shall be effective on the date the Meridian City Council shall adopt the amendment to the Meridian Zonin g Ordinance in connection with the annexation and zoning of the Prope and execution of the . ~' Mayor and City Clerk. DEVELOPMENT AGREEMENT - ACCOLADE APARTMENTS (RZ 11-007) PAGE $ OF 10 ACKNOWLEDGMENTS IN WITNESS WHEREOF, the parties have herein executed this a reement and made it effective as her ' g elnabove provided. GRAMERCY, LLC By ~ ~~~ l GZ~D~~"~l "[ J ~~"`G"'1 CITY OF MERIDIAN BY~ ~~ G~~~~.1/ Mayor T y de Weerd 4~4~p~~U ~ ~~~s~ ATTEST: ,~,~G° '~~ City of E IDIAN ,~ ~oaKo 9 a. J c e L H an, City C y~~~ of~~^ TflEA~~Q~ DEVELOPMENT AGREEMENT -ACCOLADE APARTMENTS (RZ 11-007) PAGE 9 OF 10 STATE OF IDAHO, ) ss County of Ada ) 0n this ~ w day of ~ , 2012, before me, the undersigned, ~. , a Notary Public in and for said State, personall a eared ` ~ " ~~ ~ ~ t ~~ S ~ -~ Y pp known or identified to me to be the person who executed t e ag Bement on behalf of Gramercy, LLC, and acknowledged to me that he executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written. ~~#~111111~~~~,~ ~r~ ~'• SEAL ' a ~ ~ ( ). ,~p~i~q ~ ~ ~ •~• r i~~ ~~ ~ w ~- ~, ~~ ~~ ,~ ~-~ Notary Public for Ida o Residing at: ` ~ ~ - ~ 1 My Commission Expires: ~ ~~ ~°~r STATE OF IDAHO ) ss County of Ada On this day of , 2012, before me, a Notary ...~ a .~o n~S Public, personally appeared TammY de Weerd a d a~~now or identified to P"~'`I ~ me to be the Ma or and Clerk res ectivel of the Cit of Meri i y p y, y d an, who executed the instrument of behalf of said City, and acknowledged to me that such City executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written. (SEAL) ~~r*rMi .~ ~ l~T' ,, 1 ~~ ~ ~ r ~ z; ~ +~ ^ i ~ ;; • - , ~ * ti~ r f~~ ,~ ~f i r ,. `~ !~ ,• r ,1 ~ Y r .~ p~ ~~~~ "~~~..~~ Notary Public for Idaho Residin at: g Commission expires. ~-f .-,2~- 1Z DEVELOPMENT AGREEMENT -ACCOLADE APARTMENTS (RZ 11-007) PAGE 1 O OF 1 O EXHIBITA REVI PPROVAL BY JAN 0 4 2012 MERIDIAN PUBLIC ~ I Descrlotion WQRKS DEPT Accolade Apartments -Rezone A parcel located in the W ~4 of the NE % of Section 20, Township 3 North, Range 1 East, Boise Meridian, Ada County, Idaho, and more particularly described as folbws: Commenting at the northwest comer of the NE'/. of said Sedian 20 (N'/, Comer}, from whkh the northeast comer of said NE'/~ bears N 89°46'0'1" E a ctistance of 2656.88 feet; Thence N 89°48'02" E along ~e northerly boundary of said NE'/. a distance of 1306.86 feet to a print; Thence leaving said northerly boundary S 0°13'58" E a distance of 45.00 feet to a point marking the northeasterly comer of Gramercy Subdivision No.1 as shown in gook 99 of Plats on Page 12819, record of Ada County, Idaho, said point also being the northwesterly corner of Bonito Subdivision, as shown in Book 85 of Plats on Page 9784, records of Ada County, Idaho; Thence S 1°42'39" W along the easterly boundary of said Gramercy Subdivision No.1 and the westerly boundary of said Bonito Subdivision a distance of 1252.11 feet to a point marking the centerNne intersection of E. Blue Horizon Drive and said easterly boundary of Gramercy Subdivision No. i and the POINT OF BEGINNING; Thence continuing along the easteriy boundary of said Gramercy Subdivision No.1 and the prologation thereof and the westerly boundary of said bonito Subdivision S 1°42'39" W a distance of 893.51 feet to a post; Thence leaving sad boundary S 89°54'13" W a tistance of 613.48 feet to a point marking the southeast corner of Lot 1 of Block 5 of said Gramen~y Subdivison No.1; Thence along the easterly boundary of said Gramercy Subdivision No.11he folowing described courses; Thence N 0°02'37" E a distar~e of 341.82 feet to a pant; Thence S 89°35'58" E a distance of 89.82 feet to a point; Thence N 0°02'37" E a distance of 273.00 feet to a point; Thence having said easte~r boundary N 89°35'56' W along the centerline of E. Goldstone St. a distance of 89.47 feet to a point marking the intersection of E. Goldstone St. and S. Wills Ave.; Thence along the centerline of S. WeNs Ave. the following described coun3es; Thence N 0°13'58" W a distance of 75.00 feet to a point; Thence a distance of 93.15 feet abng the arc of ~ 800.00 foot radius curve rigr-t, said curve having a central angle of 6°40'17" and a long chord bearing N 3°06'10" E a d~tance of 93.10 feet 1o a point; Thence N 8°26' 19" E a distance of 118.68 feet to a point marking the kttersedion of S. Wells Ave. and E. Blue Horizon Dr.; Thence S 89°35'58' E along the centerline of sad E. Blue Horizon Dr. a distance of 621.54 feet to the POINT ~ BEGINNING. This paroel contains 12.29 acxes and is subject to any easements existing `O~PL ~A N~ ~ or in use. 5 1S ~ ~L Clinton W. 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