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Home My WebLink AboutContract 54792-A1CSC No. 54792-A1 FIRST AMENDMENT TO CITY SECRETARY CONTRACT NO. 54792, A MANAGEMENT AND IMPROVEMENT SERVICES AGREEMENT Fort Worth Public Improvement District No. 6(Park Glen) This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 54792 ("First Amendment") is made and entered into by and between the CITY OF FORT WORTH (the "City"), a home-rule municipal corporation organized under the laws of the State of Texas, acting by and through its duly authorized Assistant City Manager, and FIRSTSERVICE RESIDENTIAL TEXAS PID, LLC, a Texas limited liability company ("Contractor") acting by and through its duly authorized representative. WHEREAS, the City and Contractor are parties to a Management and Improvement Services Agreement for Fort Worth Public Improvement District No. 6, the same being City Secretary Contract Number 54792 ("Agreement"); WHEREAS, Contractor identified a need to reallocate certain funds between budgeted line items; WHEREAS, on Apri16, 2021, the City Council authorized a resolution approving a revised Fiscal Year 2020-2021 budget and iive-year service plan, taking into account the budgetary adjustments; WHEREAS, the parties wish to amend the Agreement to incorporate the revised budget and five- year service plan; and NOW, THEREFORE, for and in consideration of the mutual covenants, promises, and agreements contained herein, the City and Contractor do hereby covenant and agree to amend the Agreement as follows: 1. Exhibit A to the Agreement concerning the Budget and Service Plan for the District is replaced with, and superseded by, a new Exhibit A that is attached to this First Amendment, which is incorporated into the Agreement for all purposes. 2. All terms of this First Amendment that are capitalized but not defined have the meanings assigned to them in the Agreement. 3. All terms and conditions of the Agreement that are not expressly amended pursuant to this First Amendment will remain in full force and effect. IN WITNESS WHEREOF, the undersigned have caused this First Amendment to be executed in Fort Worth, Tarrant County, Texas. CITY OF FORT WORTH: �� f-� $y;��sus cnapa �May za, z u z� Jay Chapa Deputy City Manager vate: M dy 28� 2021 First Amendment to CSC 54792 FIRSTSERVICE RESIDENTIAL TEXAS PID, LLC a Texas limited liabiliry company �� v BV: Kathleen Ward (May 28, 20211212 CDT) > Kathleen Ward President M a ZH, ZO21 OFFICIAL RECORD Date: y CITY SECRETARY FT. W�RTH, TX 0 ATTEST: By: ��/�� U �e�� Mary J. Kayser City Secretary ,d-o.vn�q�� a O�oFORr��d� 0 �� a o0,p � �o o� v�o o= o 0 o � o � a �� o0 0� < o � �r ��0000000 ,cy APPROVED AS TO FORM AND LEGALITY: iyf�, G�J��'� By: 0 Tyler F. Wallach Seniar Assistant City Attorney Contract Compliant Manager: By signing, I acknowledg that I am the person responsible for the monitoring and administration of this contract, including ensuring all performance and reporting requirements. �� Crystal Hinojosa Sr. Contract Compliance Specialist M s: 20-0571 (August 25, 2020); 21-0224 (Apri16, 2021) Form 1295: 2020-653790 First Amendment to CSC 54792 OFFICIAL RECORD CITY SECRETARY FT. W�RTH, TX 0 Exhibit "A" REVENl1ES PID Assessments' COFW Payment in lieu of Services Total Butlgetetl Revenues lJse of Fund Balance Total Funtls Available for Use EXPENSES Management Fee Utilities Landscaping Common Area Maintenance Holiday Decora[ion Security Enhancements Communica[ions Public Events Capital Improvements Annual Review Ciry Administretive Fee Total Butlgetetl Expenses Net Change in Funtl Balance Fund Balance, Beginning ofYear (Estimated Yrs 2-5) Estimated Fund Balance, End ofYear Reserve Requirement Over�Untle� Reserve Cily of Fort W orth Five Year Service Plan (Midyea�j Public Improvement District No. 6• Park Glen FY20l21 FY21122 FY22123 FY23124 FY24125 $ 1,614,679 $ 1,646,969 $ 1,679,908 $ 1,713,506 $ 1,747,778 199,556 199, 556 199, 556 199,556 199, 556 $ 7,874,235 $ 1,&16,525 $ 1,879,464 $ 7,913,064 $ 1,947,334 $ 111,941 $ - $ - $ - $ - $ 7,926,176 $ 1,&16,525 $ 1,879,464 $ 7,913,064 $ 1,947,334 $ 129,924 $ 132,522 $ 135,172 $ 137,875 $ 14Q633 158,000 159, 000 16Q 000 161,000 162, 000 &45,133 75Q000 65Q000 774,285 785,000 361,634 187,972 29Q560 307,543 31Q654 23,000 23,000 23,000 23,000 3Q000 206,100 207,000 208,000 209,000 21Q000 14,000 14, 000 14, 000 14, 000 14, 000 34,000 34,000 36,000 36,000 36,000 106,000 290,000 107,043 200,000 20Q000 12,100 12,100 12,100 12,100 12,100 36,285 36,931 37,589 38,261 3Q947 $ 7,926,176 $ 1,&16,525 $ 1,579,464 $ 7,913,064 $ 1,947,334 $ (171,947.00) $ - $ - $ - $ - 468,492 356,551 356,551 356,551 35Q551 356,551 35Q557 35Q557 356,551 35Q551 356,551 373,307 378,908 324,621 324,621 $ - $ 43,244 $ 37,643 $ 31,930 $ 37,930 *FY2027 Assessment Rate = $.155 Resitlentiall $.035 Commercial First Amendment to CSC 54792 3 of 3 City of Fort Worth, Texas Mayor and Council Communication DATE: 04/06/21 LOG NAME: 17PID6 MIDYEARFY21 SUBJECT M&C FILE NUMBER: (CD 4) Adopt Attached Resolution Amending the Fiscal Year 2020-2021 Budget and Five-Year Service Plan for Public Improvement District 6- Park Glen and Adopt Attached Appropriation Ordinance RECOMMENDATION: It is recommended that the City Council: 1. Adopt the attached resolution approving the revised Fiscal Year 2020-2021 Budget and Five- Year Service Plan for Public Improvement District 6— Park Glen to reflect amendments associated with a mid-year review; and 2. Adopt the attached appropriation ordinance increasing receipts and appropriations in the Fort Worth Public Improvement District 6— Park Glen Fund in the amount of $111,941.00 in Fiscal Year 2020-2021, from available, unreserved fund balance. DISCUSSION: The City of Fort Worth Department of Economic Development administers the City's Public Improvement Districts (PIDs) in accordance with Chapter 372 of the Texas Local Government Code. The City's Operating PID Policy outlines the need to proactively work with the PID managers to oversee the services being provided by the PIDs and their associated financial positions. Staff, along with the contracted PID management companies, have conducted mid-year reviews of the Public Improvement District 6- Park Glen (Park Glen PID) Annual Budget (Budget) and recommend the following adjustments. The City contracts with FirstService Residential Texas PID, LLC (FirstService) to manage the Park Glen PID. FirstService has identified the need to increase the Park Glen PID Budget by the use of fund balance in the amount of $111,941.00, in order to align expenses with actual activities in the Budget and Five-Year Service Plan. The expense increase can be attributed primarily to increases to common area maintenance line item to assist with wall maintenance and repair, and the removal of additional insurance line item. Removal of the insurance line item does not relieve FirstService from acquiring insurance in the types and amounts required under the contract. All such insurance costs are built into the current management fee. Revenue adjustments: Line Items to be Adjusted Previously Approved FY21 Budget Item PID $1,614,679.00 Assessments Recommended Mid-Year Adjustment Amended FY21 Budget Item $0.00��$1,614,679. COFW Payment in lieu $199,556.00 $0.00 $199,566.00 of Services Use of Fund Balance $0.00 $111,941.00 $111,941.00 Totals $1,814,235.00 $111,941.00 $1,926,176.00 Staff supports FirstService's recommended mid-year budget adjustments. All other previously approved line items not mentioned above remain the same. Upon approval of the above recommendation, the total budgeted expenses for Fiscal Year 2020-2021 will remain at $1,926,176.00. The revised Budget and Five-Year Service Plan will take effect upon approval by City Council. The City and FirstService will update the exiting contract to reflect the mid-year adjustment (City Secretary Contract No. 54792). The Park Glen PID is located in COUNCIL DISTRICT 4. A Form 1295 is not required because: This M&C does not request approval of a contract with a business entity. FISCAL INFORMATION / CERTIFICATION: The Director of Finance certifies that upon approval of the above recommendations and adoption of the attached appropriation ordinance, funds will be available in the current operating budget, as appropriated, in the FWPID #6 - Park Glen Fund. Prior to any expenditure being incurred, the Economic Development Department has the responsibility to validate the availability of funds. Submitted for City Manager's Office by: Jay Chapa 5804 Originating Business Unit Head: Additional Information Contact: Robert Sturns 2663 Crystal Hinojosa 7808 Expenditure adjustments: