HomeMy WebLinkAboutContract 58425-A1CSC No. 58425-A1
FIRST AMENDMENT TO CITY SECRETARY CONTRACT NO. 58425.
A MANAGEMENT AND IMPROVEMENT SERVICES AGREEMENT
Fort Worth Public Improvement District No. 15 (Sun Vallev)
This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 58425 ("First
Amendment") is made and entered into by and between the CITY OF FORT WO TH (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 ORASI DEVELOPMENT, LLC, a Texas limited liability
company ("Contractor") acting by and through Jack Thompson, 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. 15, the same being City Secretary Contract
Number 58425 ("Agreement");
WHEREAS, Contractor identified a need to reallocate certain funds between budgeted line items;
WHEREAS, on April 25, 2023, the City Council adopted an ordinance approving a revised Fiscal
Year 2022-2023 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
NO 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replaced with, and superseded by, a new Exhibit A that is attached to this First Amendment, which is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 WO TH:
By:
William Johnson (Ju 12, 202314:48 CDT)
William M. Johnson
Assistant City Manager
Date: Jun 12, 2023
ORASI DEVELOPMENT, LLC
By:
Jack Thompson
Member
Date:
Jun 8, 2023
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
First Amendment to CSC 58425 1 of 3
Approval Recommended:
By:
Robert Sturns
Economic Development Director
pp4vvop�
Fa00000e, o aad
o
0�9
ATTEST: pis oo
sd
pC� do
o.o. o o as
By:
Jannette Goodall
City Secretary
APPROVED AS TO FORM AND LEGALITY:
uJar�
By:
Tyler F. Wallach
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.
Lacey Id Ruiz un 12 14 CDT)
Lacey M. Ruiz
Sr. Contract Compliance Specialist
M&Cs: 22-0676 (September 13, 2022); 23-0310 (April 25, 2023)
Form 1295: 2022-919250
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
First Amendment to CSC 58425 2 of 3
Exhibit "A"
City of Fort Worth
Mid -Year Five Year Service Plan
Public Improvement District No. 15 - Sun Valley
Fiscal Year 22/23 - 26/27
FY22/23 FY23/24
REVENUES
PID Assessments $ 141,410 $ 147,066
Budgeted Revenues $ 141,410 $ 147,066
Use of Fund Balance 33,476 -
Total Revenues $ 174,886 $ 147,066
EXPENSES
Management Fee
Security Enhancements
Equipment Rental
Vehicle Maintenance
Surveillance Cameras
W ebsite/software
Printing
City Administrative Fee
City Audit
Total Budgeted Expenses
Contribution to Fund Balance
Total Expenses
Net Change in Fund Balance
Fund Balance, Beginning of Year (Estimated Yrs 2-5)
Estimated Fund Balance, End of Year
Reserve Requirement
Over (Under) Reserve
*FY2023 Assessment Rate = $.24
$28, 282
108,080
5,196
3,000
24,000
500
500
2,828
2,500
$ 174,886
$ 174,886
$ (33,476)
85,521
52,045
24,438
$ 27,607
$ 29,413
84,446
4,800
3,000
18,500
500
500
2,941
2,500
$ 146,600
466
$ 147,066
$ 466
52,045
52,511
23,899
$ 28,612
FY24/25 FY25/26 FY26/27
$ 152,949 $ 159,067 $ 160,798
$ 152,949 $ 159,067 $ 160,798
$ 152,949 $ 159,067 $ 160,798
$ 30,590 $ 31,813 $ 32,160
85,864
89,110
75,116
4,800
4,800
4,800
3,000
3,000
3,000
12,500
12,500
12,500
500
500
500
550
550
550
3,059
3,181
3,216
2,500
2,500
2,500
$ 143,363
$
147,954
$
134,342
9,586
11,113
26,456
$ 152,949
$
159,067
$
160,798
$ 9,586
$
11,113
$
26,456
52,511
62,097
-
62,097
73,210
26,456
24,664
24,664
22,395
$ 37,433
$
48,546
$
4,061
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 04/25/23 M&C FILE NUMBER: M&C 23-0310
LOG NAME: 17PID15 MIDYEARFY23
SUBJECT
(CD 5 / Future CD 11) Adopt Ordinance Amending the Fiscal Year 2022-2023 Budget and Five -Year Service Plan for Public Improvement
District 15 - Sun Valley and Adopt Appropriation Ordinance
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached ordinance amending the Fiscal Year 2022-2023 Budget and Five -Year Service Plan for Public Improvement District 15 —
Sun Valley 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
15 — Sun Valley Fund in the amount of $21,116.00, 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 15 — Sun Valley (Sun Valley PID) is managed by Orasi Development, LLC (Orasi).
On September 13, 2022, City Council adopted Ordinance No. 25722-09-2022, approving the Fiscal Year (FY) 2022-2023 Budget, Five -Year
Service Plan, Assessment Plan, and Tax Year 2022 Assessment Roll for the Sun Valley PID. After conducting a mid -year review of the Sun Valley
PID's budget, City staff and Orasi have identified the need to increase the Sun Valley PID Budget by $21,116.00 to align expenses with actual
activities that are attributable primarily to increases in security for hourly rate adjustments and sales tax charges for equipment.
Revenue Adjustments:
Line Items previously Approved Recommended Amended
to be FY23 Budget Item Mid -Year FY23
Adjusted Adjustment Budget Item
(PID $141,410.00 $0.00 $141,410.00
Assessments
Use of Fund $12,360.00 $21,116.00 $33,476.00
Balance
(Totals $153,770.00 $21,116.00 $174,886.00
Expenditure Adjustments:
F
Items to Previously Approved Recommended (Amended
djusted FY23 Budget Item Mid -Year FY23
Adjustment Budget Item
Security $87,360.00 $20,720.00 $108,080.00
Enhancements
Equipment $4,800.00 $396.00 $5,196.00
Rental
(Totals $92,160.00 $21,116.00 $113,276.00
All other previously approved line items not mentioned above remain the same. Upon approval of the above recommendations, the total budgeted
expenses for FY 2022-2023 will be $174,886.00. This mid -year budget adjustment will decrease the unaudited, unassigned fund balance by a total
of $21,116.00. The revised Budget and Five -Year Service Plan will take effect upon approval by City Council. The City and Orasi will update the
existing contract to reflect the mid -year adjustment (City Secretary Contract No. 58425).
Funding is available for appropriation in the fund balance of the FWPID #15 - Sun Valley Fund. The beginning balance is $85,520.99 after this
M&C, available balance will be $64,404.99.
The Sun Valley PID is located inCOUNCIL DISTRICT 5/FUTURE COUNCIL DISTRICT 11.
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 recommendations and adoption of the attached appropriation ordinance, funds will be
available in the current operating budget, as appropriated, in the FWPID #15 - Sun Valley Fund. Prior to any expenditure being incurred,
the Economic Development Department has the responsibility to validate the availability of funds.
Submitted for Citv Manaaer's Office bv: William Johnson 5806
Oriainatina Business Unit Head: Robert Sturns 2663
Additional Information Contact: Crystal Hinojosa 2663