HomeMy WebLinkAboutOrdinance 22204-05-2016 ORDINANCE NO. 22204-05-2016
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE GENERAL FUND IN THE AMOUNT OF
$24,127,816.00, FROM AVAILABLE FUNDS, FOR THE PURPOSE OF
INCREASING APPRPRIATIONS IN THE VARIOUS TAX INCREMENT FUNDS;
PROVIDING FOR A SEVERABILITY CLAUSE; MAKING THIS ORDINANCE
CUMULATIVE OF PRIOR ORDINANCES; REPEALING ALL ORDINANCES IN
CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE DATE.
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 for Fiscal Year 2015-2016 in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the
General Fund in the amount of $24,127,816.00, from available funds, for the purpose of increasing
appropriations in the various Tax Increment funds.
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 force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance No. 21873-09-2015 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of said prior ordinances and appropriations are hereby expressly repealed.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.
APPROVED AS TO FORM AND LEGALITY:
Peter Vaky,Deputy City omey Mat J. Kayser, City Se r aty
ADOPTED AND EFFECTIVE:May 17,2016
Ordinance No.22204-05-2016
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City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 5/17/2016 - Ordinance No. 22204-05-2016
DATE: Tuesday, May 17, 2016 REFERENCE NO.: **G-18732
LOG NAME: 17TIFALLOCATIONFY16
SUBJECT:
Adopt Supplemental Appropriation Ordinance Increasing Appropriations in the Various Tax Increment
Funds in the Total Amount of$24,127,816.00 for Fiscal Year 2016 (ALL COUNCIL DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council adopt the attached supplemental appropriation ordinance
increasing appropriations in the various Tax Increment funds in the total amount of $24,127,816.00 for
Fiscal Year 2016.
DISCUSSION:
The purpose of this Mayor and Council Communication is to increase the Fiscal Year 2016 appropriation
in the various Tax Increment Financing Funds (TIF Funds) in the amount of$24,127,816.00 for the
purpose of increasing the allocation to the TIF Funds for the management and use of all available funds,
including the use of the reserve funds.
On September 15, 2015 the City Council approved the Fiscal Year 2016 Appropriation Ordinance
(Ordinance No. 21873-09-2015) adopting the City's FY2016 budget, including appropriations of the TIF
Funds that have been designated by the City and the other taxing entities participating in each of the
City's twelve Tax Increment Reinvestment Zones (Zones). The TIF Funds are used for economic
development and redevelopment projects within the boundaries of the Zones in accordance with the
adopted Project and Financing Plans for each TIF and the Tax Increment Financing Act, Chapter 311 of
the Texas Tax Code, which authorizes the City to maintain the funds.
The intent of the original appropriation ordinance was to provide accessibility to all available TIF funding in
each Zone which would give the individual Boards of Directors of each Zone the discretion to approve
projects that include the reserve funds. The Fiscal Year 2016 appropriations ordinance did not include the
prior year's reserve fund within each TIF District fund, thereby limiting the availability of TIF funds. The
Economic Development Department is requesting an increase in appropriations for Fiscal Year 2016 of
$24,127,816.00, for a total Fiscal Year 2016 allocation of$47,869,671.00 so that the TIF Boards of
Directors can consider projects that may emerge during FY 2016 that contemplate utilizing the reserve
funds in accordance with each respective TIF Project and Financing Plan. The funding allocation per TIF
is outlined in the following table:
FY16 Appropriated FY16 Additional FY16 Total
TIF Amount Amount to Appropriation
(09/2015) Appropriate
2A $614,486.00_ $454,836.00 $1,069,322.00
2B $380,821.00 $47,776.00 $428,597.00
Logname: 17TIFALLOCATIONFY16 Page 1 of 2
1 3 $4,719,282.00 1 $339,172.00 $5,058,454.00
3A �$1,178,733.00 __$3,229,269.00
$4,408,002.00
--4 'i$4,561,244.00 $7,246,460.00
$11,807,704.00
�
�.-7 jF--'-1$4,333,015.00 $2,924,487.00 $7,257,502.00
7A $63,145.00 $164,534.00 $227,679.00
8 $1,543,873.00 $8,118,917.00 $9,662,790.00
10 $370,959.00 $225,998.00 [ $596,957.00
12h�$889,347.00 .-----
$259 362.00 $1,148,709.00
w
13 $81,447.00 00
, $550,792.00
14 T J tl$684,986.00 Y� $633,999.00 x$1,318,985.00
1-15 m1 $0 --[—$13,661.00 —[—$13,661.00
This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION I CERTIFICATION:
The Director of Finance certifies that upon adoption of the above recommendation and the supplemental
appropriation ordinance, funds will be available in the current operating budget, as appropriated, to the TIF
Funds.
FUND IDENTIFIERS (FIDs):
TO
Fund Department Account Project Program Activity Budget Reference # Amount
ID ID Year Chartfield 2
1 28721 0170413 4990000 TIF 2A TIF 2016 $454,836.00
28722 0170413 4990000 TIF 2B TIF 2016 $47,776.00
3 28603 0170413 4990000 TIF 3 TIF 2016 $339,172.00
28730 0170413 4990000 TIF 3A TIF 2016 3,229,269.00
5 28604 0170413 4990000 TIF 4 TIF 2016 7,246,460.00
28607 0170413 4990000 TIF 7 TIF 2016 2,924,487.00
7) 28770 0170413 4990000 TIF 7A TIF 2016 $164,534.00
8) 28608 0170413 4990000 TIF 8 TIF 2016 $8,118,917.00
9 28610 0170413 4990000 TIF 10 TIF 2016 $225,998.00
10 28612 0170413 4990000 TIF 12 TIF 2016 $259,362.00
11 28613 0170413 4990000 TIF13 TIF 2016 $469,345.00
12 28614 0170413 4990000 TIF 14 TIF 2016 $633,999.00
13 28615 0170413 4990000 TIF 15 TIF 2016 $13,661.00
FROM
Fund Department ccoun Project Program ctivity Budget Reference # moun
ID ID Year Chartfield 2
CERTIFICATIONS:
Submitted for City Manager's Office by: Jay Chapa (5804)
Robert Sturns (212-2663)
Originating Department Head: Brenda Hicks-Sorensen (870-0154)
Additional Information Contact: Ana Alvarado (871-6029)
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