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Home My WebLink AboutContract 56491-A1 CSC No. 56491-A1 FIRST AMENDMENT TO CITY SECRETARY CONTRACT NO.56491, A MANAGEMENT AND IMPROVEMENT SERVICES AGREEMENT Fort Worth Public Improvement District No.20(E.Lancaster Ave) This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 56491("First Amendment")is made and entered into by and between the CITY OF FORT WORTH("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 FIRST SERVICE RESIDENTAIL 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. 20, the same being City Secretary Contract Number 56491 ("Agreement"); WHEREAS, Contractor identified a mid-year adjustment to reflect changes to the current budget and 5-year service plan,including an increase to the management fee; WHEREAS,on April 12,2022,the City Council adopted an ordinance revising Fiscal Year 2021- 2022 budget and five-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 Exhibit A to the Agreement concerning the Budget and Service Plan for the District is replaced with, and superseded by, a new Exhibit A that is attached to this First Amendment, which is incorporated into the Agreement for all purposes. 2.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: FIRST SERVICE RESIDENTIAL TEXAS PID,LLC, a Texas limited liability company: By:Reginald Zeno lay 10,2022 14:13 CDT) By:Kathleen Ward(May 9,2022 17:59 CDT) ./ Reginald Zeno Kathleen Ward Interim Assistant City Manager President Date: May 10, 2022 Date: May 9, 2022 OFFICIAL RECORD CITY SECRETARY FT.WORTH, TX First Amendment to CSC 56491 1 of 3 ATTEST: 00 jv� °o14� Tgnnette S. Goo�gll o 0=d ° d By:Jannette S.Goodall(May 11,2022 07:35 CDT) �i °°° °o° � Jannette Goodall da44�EXAsoap City Secretary APPROVED AS TO FORM AND LEGALITY: By:OO Tyler F. Wallach Senior Assistant City Attorney Contract Compliant Manager: By signing, I acknowledge 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&Cs: 21-0709(September 21,2021);22-0252(April 12,2022) Form 1295: 2021-790514 OFFICIAL RECORD CITY SECRETARY FT.WORTH, TX First Amendment to CSC 56491 2 of 3 Exhibit "A" CPty of Fort Worth Five Year Service Plan(FY22 Mid-Year Revision) Public Improvement District No.20-East Lancaster FY21122 FY22123 FY23124 FY24125 FY25126 REVENUES RID Assessments $ 257,384 262,532 $ 267,783 $ 273,139 $ 278,602 Total Budgeted Revenues $ 257.384 $ 262.532 $ 267.783 $ 273,139 $ 278,602 Use of Fund Balance 39.000 3.870 - - - Total Funds Available for Use $ 296.384 $ 269.402 $ 267.783 $ 273,139 $ 278,6D2 EXPENSES Management Fee $ 17,800 $ 17,800 $ 17,800 $ 17,800 $ 17,800 City Adm i n i strative Fee 5,148 5,251 5,356 5,463 5,572 Security 254,200 239,047 236,833 241,795 247,956 Community Marketing/Events 12.656 2,804 2,500 2.500 2,500 AuditlAnnual Review 2,500 2.500 2.500 2,500 2.500 Communications 4,000 2,000 2,000 2,000 2,374 Total Budgeted Expenses $ 296,384 $ 269,402 $ 266,989 $ 272,058 $ 278,602 Contribution to Fund Balance - - 794 1.081 - Total Expenses 296,384 269,402 267.783 273,139 278,602 Net Change in Fund Balance $ 139,01 ) $ 16,874)} $ 794 $ 1,1)81 $ Fund Balance,Beginning of Year(EstimatedYrs 2-5) 04,909 45,909 39,039 39,833 40,914 Estimated Fund Balance,End of Year 45,909 39,039 39,833 40,914 40,914 Reserve Requirement 44.909 44,507 45,352 46.443 46,443 Over(Under}Reserve S 1,D44 $ t5,468) $ t5,519) $ 15,529) $ t5,529) `FY2022 Assessment Rate=$.265 First Amendment to CSC 56491 3 of 3 City of Fort Worth, Texas Mayor and Council Communication DATE: 04/12/22 M&C FILE NUMBER: M&C 22-0252 LOG NAME: 17PID20 MIDYEARFY22 SUBJECT (CD 5 and CD 8)Adopt Attached Ordinance Amending the Fiscal Year 2021-2022 Adopted Budget and Five-Year Service Plan for Public Improvement District 20—East Lancaster Avenue and Adopt Attached Appropriation Ordinance RECOMMENDATION: It is recommended that the City Council: 1. Adopt the attached ordinance amending the Fiscal Year 2021-2022 Budget and Five-Year Service Plan for Public Improvement District 20— East Lancaster Avenue to reflect amendments associated with a mid-year review and direct the City Secretary to record the same in the real property records of Tarrant County,Texas no later than the seventh(7th)day after adoption by the City Council; and 2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District 20—East Lancaster Avenue Fund in the amount of$15,000.00, from available, unreserved fund balance, for the purpose of funding mid-year budget adjustments. DISCUSSION: The City of Fort Worth's Department of Economic Development administers the City's Public Improvement Districts(PIDs). The City's PID Policy outlines the need to proactively work with the City's PID management companies to oversee the services being provided within each of the PIDs. PID 20—East Lancaster(or the East Lancaster PID)is managed by FirstService Residential Texas PID, LLC(FirstService). On September 21, 2021, City Council adopted Ordinance No. 25093-09-2021, approving the fiscal year(FY)2021-2022 Budget, Five-Year Service Plan, Assessment Plan, and Tax Year 2021 Assessment Roll for the East Lancaster PID. After conducting a mid-year review of the East Lancaster PID's budget, City staff and FirstService have identified the need to increase the East Lancaster PID Budget by$15,000.00 to align expenses with actual activities that are attributable primarily to increases in security for increased patrols and community marketing/events to cover costs of annual meetings and events. Revenue Adjustments: Line Items reviously Recommended Amended to be FY22 Mid-Year FY22 BudgetAdjusted ][Approved udget Item Adjustment Item PID $257,384.00 $0.00 $257,384.00 Assessments Use of Fund $24,000.00 $15,000.00 $39,000.00 Balance Totals $281,384.00 $15,000.0011 $296,384.00 Expenditure Adjustments: Lbe e Items to Previously Recommended Amended Adjusted Approved FY22 Mid-Year FY22 Budget Item Adjustment Budget Item Security $248,280.00 $6,000.00 $254,280.00 IL Community Marketing/ $4,656.00 $8,000.00 $12,656.00 Events Communications $3,000.001 $1,000.00 $4,000.00 Totals $255,936.0011 $15,000.00 $270,936.00 All other previously approved line items not mentioned above remain the same. Upon approval of the above recommendations,the total budgeted expenses for FY 2021-2022 will be$296,384.00. This mid-year budget adjustment will decrease the unaudited, unassigned fund balance by a total of$15,000.00. The revised Budget and Five-Year Service Plan will take effect upon approval by City Council. The City and FirstService will update the existing contract to reflect the mid-year adjustment(City Secretary Contract No. 56491). Funding is available for appropriation in the fund balance of the FWPID#20-East Lancaster Ave Fund. The beginning balance is $45,909.02, after this M&C, available balance will be$69,909.02. The East Lancaster PID is located in COUNCIL DISTRICTS 5&8. 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#20-East Lancaster Ave 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 W. Reginald Zeno 8517 Originating Business Unit Head: Robert Sturns 2663 Additional Information Contact: Crystal Hinojosa 7808