HomeMy WebLinkAboutOrdinance 18799-09-2009Ordinance No. ~ 3'~9-09-2449
AN ORDINANCE INCREASING ESTIMATED RECEiP~f~S ANd AI?PROPRIATIONS IN
THE SPECIAL ASSESSMENT DISTRICT FUNd IN THE At~~10UN_7~ OF X55,991.44 FROf~1
AVAILABLE FUNDS FOR THE PURPOSE OF FUNDING IP.iPROVEMENTS AND
SERVICES IN PUBLIC IMPROVEMENT DISTRICT NO. 11 ;STOGKYARdS}; PROVIDING
FOR A SEVERABILITY CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF PRIOR
ORDINANCES IN CONFLICT HEREWITH: AND PROVIDING AN EFFECTNE BATE.
BE IT ORDAINEd BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS:
SECTION 1.
That in addition to those amounts allocated to the various City departments far Fiscal Year 2449-2414 in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the
Special Assessment district Fund in the amount of $55,991.44 from available funds for the purpose of
funding improvements and services in Public Improvement District No. 11 {Stockyards}.
SECTION 2.
That should any portion, section or part of a section of this ordinance be declared invalid, inoperative or void
for any reason by a court of competent jurisdiction, such decision, opinion or judgment shall in no way
impair the remaining portions, sections, or parts of sections of this ordinance, which said remaining
provisions shall be and remain in full farce and effect.
SECTION 3.
That this ordinance shall be incorporated into the ordinance effecting the budget of the municipal
government of the City of Fart Worth for the ensuing Fiscal Year beginning October 1, 2449, and ending
September 34, 2414, and all other ordinances and appropriations amending the same except in those
instances where the provisions of this ordinance are in direct conflict with such other ordinances and
appropriations, in which instance said conflicting provisions of said prior ordinances and appropriations are
hereby expressly repealed.
SECTION 4
This ordinance shall take effect upon adoption.
API~ROVI`D ~1S TO FUR~,~4 /AND LEGALITY.
pity of Fort U1llorth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 9/8/2009 -Ord. Nos. 18798-09-2009, 18799-09-2009 &
18800-09-2009
DATE: Tuesday, Se~tei~tber 08, 2009 REFERENCE NO.: BH-244
LC?G NAfifiE: 17PID11 BENHEAR2009
SUBJECT:
Conduct a Benefit Nearing far Fart Worth Public Improvement District 11 {Stockyards} Concerning the
Proposed Budget and Five-Year Service Plan and Proposed Assessment Rail; Adapt Ordinance Levying
Special Assessments far the 2009 Tax Year; Adapt Appropriation Ordinances to Increase Estimated
Receipts in the Special Assessment District Fund and Special Trust Fund far Fiscal Year 2009-2010 and
Authorize Execution of an Agreement with the Fart Worth Stackyards Preservation Foundation, Inc., to
Manage the District
RECQMMENDATIt9N:
It is recommended that the City Council:
1. Hold a benefit hearing concerning the prapased special assessments on property located in Fart Worth
Public Improvement District 11 {the Stockyards PID} for the 2009-2010 Fiscal Year;
2. Approve the attached Stackyards PID budget and five-year service plan far Fiscal Year 2009-2010;
3. Adopt the prapased 2009 assessment roll far the Stackyards PID;
4. Adapt the attached ordinance which levies the prapased assessment far property located in the
Stockyards PID for Fiscal Year 2009-2010;
5. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations by
$55,991.00 in the Special Assessment District Fund (Public Improvement District 11 Fiscal Year 2009-
2010 Project account} from available funds;
6. Authorize ~~e fi-ansfer c~ $2,000.00 For administrati~~e fees from the S,~esial Assessment District Fund
{Pub iic Ir~~pro;~emeni District 11 Fiscal Year 2609-20'0 Project Account; to the Special Tr~~st Fund
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The purpose of this benefit hearing is to receive com~r~ents from the public regarding the Fiscal Year
2009-201fl proposed assessments to be levied on e~~ei~ property in PID 11, to adopt an ordinance levying
the proposed assessments and to adopt an apprcpriatior~ ordinance allocating estimated receipts to the
District' s fund.
On August 25, 2009, {M&G G-16579} the Gity Gouncil conducted a public hearing to receive comments an
the proposed Fiscal Year 2009-2010 five-year service plan and budget {attached) and provided notice cif
this benefit hearing.
Based upon the five-year service plan budget the current and projected revenues will fund the follo~.ving:
Improvements
Management Fee
Insurance
Website and Other Marketing
Public Events
City Administration
Budget Expenses
Estimated C}perating Reserve
Total Expenses
Total budgeted. Costs
$1~,~50.00
$350.00
$31,834.00
~ 15, 000.00
~2,OOfl,0
$60,334.00
$17,372,QO
$77,706.00
The total budgeted costs of the improvements and services are $77,706.flfl. Out of the total expenses,
$55,991.00 will be funded by assessments collected on privately owned parcels located in the district by
applying a rate of $0.10 cents to each $100,00 of the value of such property and this will be the
established rate in Fiscal Year 2010. The remainder of the costs, $21,715.00 will be funded by prior year
assessments carried forward to Fiscal Year 2009-2010.
Based on the appraised value of the property and considering the benefits to be received from the
proposed improvements, it is the opinion of the Gity staff that an amount equal to or more than the
proposed assessments, upon completion of the improvements will enhance each parcel of property in
value.
P1D 11 is commonly known as the "Stockyards PID" and is located in GOUNGIL DISTRIGT 2.
FISCAL INFC}RMATION t CERTIFICATION:
The Financial Management Services Director certifies that upon approval of the above recommendations
and adoption of the attached appropriation ordinances, funds will be available in the Fiscal Year 2009-
2010 operating budget, as appropriated, ~~f the Specia! Assessment District Fund and the Special Trust
Fund.
FUND CENTERS
~O r tired Ac.~,~~unt Cent~r~
~RrJM Fur~ct AccountCenter5
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I ~~~i~..~:~,~~_ 1 ~I'Il)I1IS1 \I II lJZ'riu~, 1~~,~t. _~ ,,~ :.
Qriginating Department Head: Jay Chapa ~~~~~~
Additional Information Contact: aylvia Flores (8550)
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