HomeMy WebLinkAboutOrdinance 22222-05-2016 ORDINANCE NO.22222-05-2016
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS
IN THE STREET IMPROVEMENTS COs RESIDUALS FUND BY $13,845,414.00 FOR
VARIOUS PROJECTS AS DETAILED HEREIN; 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 Sheet Improvements COs
Residuals Fund of$13,845,414.00, from available revenue, in the following projects and amounts and reduced fund
balance in the 2007 Critical Capital Projects Fund in the amount of $10,443,636 and the Street Improvements
Supplemental Fund in the amount of$3,401,778:
project [Amount
P r14 CIP Street Reconstruction $3,265,126.00
ogrammable Project
[Animal Shelter Expansion $496,100.00
;Contract Street Rehabilitation $9,834,188.00
School Safety Devices $250,000.00
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appropriations are hereby expressly repealed.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:
Denis cE y, ssistant City Attorney a J.Kayser,City Secret ry
ADOPTED AND EFFECTIVE:May 17,2016
Ordinance No.22222-05-2016
Page 1 of 1
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 5/17/2016 - Ordinance No. 22220-05-2016, 22221-05-2016,'
22222-05-2016 & 22223''-05-2016
DATE: Tuesday, May 17, 2016 REFERENCE NO.: G-18738
LOG NAME: 13PROJECT FUNDING RECOMMENDATIONS
SUBJECT:
Find That Conditions Have Materially Changed Such That Lakeshore Drive Project Proposed in 2008 Bond
Program is Unwise and Unnecessary and Cancel Project; Find That Street and Storm Sewer Improvement
Projects from the 2004 and 2008 Bond Programs are Substantially Complete; Find That Identified Projects
Constitute Eligible Expenditures of Residual Funds; Approve Transfer of Remaining Debt Proceeds from
Capital Funds to Newly Created Residuals Funds; and Adopt Ordinances Appropriating Funds for Identified
Projects in Newly Created Residuals Funds and Reallocating Previously Appropriated Funds within the
General Capital Projects Fund (ALL COUNCIL DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council:
1) Find that conditions have materially changed so that the Lakeshore Drive project as proposed in
the 2008 Bond Program is unwise and unnecessary and cancel that project;
2) Find that the street and storm sewer projects in Proposition One of the 2004 Bond Program
are substantially complete and that the supplemental projects identified below are within the voted
purposes of the bond proposition and constitute eligible expenditures for the remaining funds in the
amount of$4,679,869;
3) Find that the street improvement projects in Proposition One of the 2008 Bond Program are
substantially complete and that the supplemental projects identified below are within the voted purposes of
the bond proposition and constitute eligible expenditures for the remaining funds in the amount of
$11,353,994;
4) Find that the projects identified below are within the purposes identified in the published notices
of intent for previously issued certificates of obligation and constitute eligible expenditures for the
remaining funds in the amount of$13,845,414;
5) Approve the transfer of$4,679,869 from the Street Improvements Fund (2004 Bonds) to the
2004 Bond Program Residuals Fund, and adopt the attached ordinance increasing estimated receipts and
appropriations in the 2004 Bond Program Residuals Fund in the same amount;
6) Approve the transfer of funds from the Street Improvements 2008 Fund (2008 Bonds) to the
2008 Bond Program Residuals Fund in the amount of$11,353,994, and adopt the attached ordinance
increasing estimated receipts and appropriations in the 2008 Bond Program Residuals Fund in the same
amount;
7) Approve the transfer of funds from the 2007 Critical Capital Program and the Street
Logname: 13PROJECT FUNDING RECOMMENDATIONS Page I of 5
Improvements Supplemental Fund to the Street Improvement COs Residuals Fund in the amount of
$13,845,414, and adopt the attached ordinance increasing estimated receipts and appropriations in the
Street Improvements COs Residuals Fund in the same amount; and
8) Adopt the attached ordinance reallocating $9,834,188 in previously appropriated funds in the
General Capital Projects Fund for various projects without increasing total appropriations in the Fund to
use freed up, unrestricted, pay-as-you-go capital funding for other projects.
DISCUSSION:
The purpose of this Mayor and Council Communication is to cancel a planned bond project that changes
in material circumstances have rendered unwise and unnecessary and to reallocate residual bond and
certificate of obligation funds to eligible projects, including voter-approved projects from the 2014 Bond
Program that have funding shortfalls and previously approved and funded pay-as-you-go capital projects,
and to reallocate unrestricted dollars to other eligible capital projects. Detailed information on the nature
and reasons for the various shortfalls in the 2014 Bond Program projects is included in an attachment to
this M&C.
As a continuation of clean up and closeout of funds and projects funded by the 2004 and 2008 Bond
Programs and associated certificates of obligation, staff identified more than $52,000,00.00 in funds that
had not been moved into specific projects or that remained following completion of projects. Of that
amount $22,740,633.00 has now been appropriated into specific projects (M&Cs C-27677 and G-18719),
leaving a remaining amount of$29,879,277.00 in street-related funding.
Staff has identified a number of projects that would be within the voted purposes of the bond funds and
within the purposes outlined in the published notices of intent for the certificates of obligation. Staff
therefore recommends that the City Council approve this M&C, which adopts findings and appropriations
ordinances to reprogram residual bond and certificate of obligation funds to identified projects.
Cancellation of Lakeshore Drive Proiect
In 2008 Fort Worth voters approved issuance of$232,900,000 in bonds for " Street Improvements." The
booklet distributed prior to the 2008 bond election identified the projects that the City intended to
undertake with those funds. One included project was improvements to Lakeshore Drive from Wilbarger to
Berry. The bond booklet also included a statement advising voters that the City Council reserved "the right
to abandon or modify a project if, in the council' s opinion, conditions materially change so that the project
as originally proposed is unwise or unnecessary" and to "direct that the bond proceeds be expended for
other projects within the voted purposes of the bonds."
Approval of Recommendation 1 would find that, as a result of material changes in circumstances,
including growing needs for other street-related infrastructure in the vicinity compared to the originally
proposed, low-projected-demand roadway, the Lakeshore Drive project as proposed is no longer wise or
necessary and is therefore cancelled. A separate M&C is being finalized and will be coming forth shortly
in order to reallocate the $6,521,991.00 remaining in that project to other projects within the voted
purposes of Proposition One. Those dollars are separate from and in addition to the funds addressed in
the remainder of this M&C.
2004 Bond Program Funds
Proposition One of the 2004 bond election authorized issuance of$232,900,000 for"Street and Storm
Sewer Improvements"with the bond booklet identifying various projects and programs that were intended
to be completed with those funds. The following amounts remain on hand within various allocations
following substantial completion of all of the street and storm sewer projects identified in the bond booklet:
Logname: 13PROJECT FUNDING RECOMMENDATIONS Page 2 of 5
[Description � _ Amount
[Drainage �' $157,118.00
Street Lights $415,671.00
Sidewalks _ �__.._ r_ $83,736.00
' $74,788.00
Neighborhood Streets �) $234,623.00
�fraffic Signals $234,810.00
_ . ___.._� _-__—u—__—
Enhanced_CFA Urban__—
Design—_______—___ (- --$1,279,123.00
Arterials $2,200,000.00
otal r $4,679,869.00
The following arterial projects were included in the 2014 Bond Program but, due largely to rapidly rising
construction costs, are currently underfunded:
Project _ Amount
!McCart Avenue and McPherson Blvd $2,135,489.00
Montgomery Street $2,544,380.00
otal (� $4,679,869.00
Approval of recommendations 2 and 5 would (i) find that all street and storm sewer projects of the 2004
Bond Program are substantially complete, (ii) find that the proposed use — addressing shortfalls in arterial
road projects in the 2014 Bond Program —is within the voted purpose of the bonds and therefore
constitutes an eligible expenditure of these funds, and (iii) appropriate the residual to the specified
projects.
2008 Bond Program Funds
In the 2008 Bond Program, voters authorized issuance of$232,900,000 for"Street Improvements."With
the cancellation of Lakeshore Drive, funding from which will be addressed via separate M&C, all of the
street-related projects identified in the bond booklet are substantially complete, and the following amounts
remain available within the allocations identified in the bond booklet:
[Description � ^ ____ Amount
(Bridges ���� $48,452.00
��
(Intersection Revisions_ _�_R - �_ - _ � $86,328.00
[Neighborhood Streets $9,009,784.00
,_�-___ _ _ _ _ _—_.7.___
iTraffic Signals [�__ $1,491,179.00
(Transportation Grant Match $718,251.00
$11,353,994.00
The following citywide street construction / reconstruction /rehabilitation projects were included in the 2014
Bond Program but are currently underfunded:
(Proj
ect__-_______-___-.. _----
Amount _
— zz T. 0
Montgome_ --ry--Street- _m. C u__ $3,405,620.00
(Old Decatur Road _ $1,8_00,000.00
FRisinger Road ^� (mm� $3,350,000.00
� _ _
2014 CIP Street Reconstruction $2,798,374.00
Programmable Project
Logname: 13PROJECT FUNDING RECOMMENDATIONS Page 3 of 5
j otal $11,353,994.001
In approving Recommendations 3 and 6, the City Council would be (i) finding that all street-related
projects of the 2004 Bond Program are substantially complete, (ii) finding that the proposed use—
addressing shortfalls in citywide street construction /reconstruction /rehabilitation projects in the 2014
Bond Program — is within the voted purpose of the bonds and therefore constitutes an eligible expenditure
of these funds, and (iii) appropriate the residual to specified projects.
Certificate of Obligation Funds
From 2007 to 2013 the City issued certificates of obligation (CO) to address funding shortfalls in the 2004
and 2008 Bond Programs and to fund other critical capital needs, including street-related improvements,
with intended uses outlined in notices of intent that were published prior to each series of CO issuance.
The CO-funded street projects are all substantially complete and the following funds remain within the
originally planned allocations:
Description mount
Krterials
(Neighborhood Streets [—_ _$4,571,719.00
(Facilities _ $3,247,508.00
Intersections _ _ �_ ____ _ uC_ $89,674.00
�otal w C $13,845,414.00
With the exception of School Safety Devices, the following projects were included in the 2014 Bond
Program and are underfunded or funded out of unrestricted pay-as-you-go capital dollars that could be
used to address other capital needs:
(Project
`2014 CIP Street Reconstruction $3,265,126.00
Programmable Project
.. _
p,ni Iter Expansion (�_— $496,100.0-
0
!Contract Street Rehabilitation $9,834,188.00
School Safety Devices ( u $250,000.00
Total $13,845,414.00
Approval of Recommendations 4 and 7 would (i) find that the proposed use — addressing shortfalls in
citywide street construction / reconstruction / rehabilitation projects in the 2014 Bond Program and funding
planned but unfunded devices to improve traffic safety in the vicinity of schools— is within the purpose of
the certificates of obligation as described within the applicable notices of intent and therefore constitutes
an eligible expenditure of these funds, and (ii) appropriate the residual to specified projects. NOTE—A
portion of this funding will replace previously appropriated pay-as-you-go capital dollars so that those
unrestricted funds can be used on other eligible capital projects.
Reallocation of Previously Appropriated Pay-As-You-Go Capital Funds
Reallocating almost $10 million in previously approved contract street maintenance expenses to residual
CO funds frees up the unrestricted pay-as-you-go capital dollars for use in addressing shortfalls and
needs in other capital projects. Staff recommends that the following projects be funded with those
Logname: 13PROJECT FUNDING RECOMMENDATIONS Page 4 of 5
unrestricted dollars:
Project _ _ Amount
P014 CIP Proposition Two Park $3,363,128.00
rojects (Detailed projects attached) __
[Fire Station 42 (Spinks) $776,288.00
E. Lancaster Express Library_ $781,311.00
Transportation System Asset $1,150,000.00
Management
rans. Impact Fee Study Update $100,000.00
FRoof Replacements �� $613,461.00
Street Light Repairs ( $150,000.00
Harley St. Loan–Repay-ments $2,200,000.00
2018 Bond Program–Projects-- $700,000.00
Estimating ----I �
otal (--------_—$9,834,188.00
Approval of Recommendation 8 would reappropriate these dollars as outlined in the chart.
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 ordinances, funds will be available in the 2004 Bond Program Residuals Fund, the
2008 Bond Program Residuals Fund, the Street Improvements CO's Residuals Fund, and the General
Capital Projects Fund.
Fund Identifiers (FIDs) are attached and will be updated upon receipt of new fund and project numbers.
FUND IDENTIFIERS (FIDs):
TO
Fund Department ccoun Project Program ctivity Budget Reference # moun
ID ID Year Chartfield 2
FROM
Fund Department Accoun Project Program ctivity Budget Reference # Amoun
ID ID Year Chartfield 2
CERTIFICATIONS:
Submitted for City Manager's Office by: Susan Alanis (8180)
Originating Department Head: Aaron Bovos (8517)
Additional Information Contact: Suzie Wagner (7806)
Logname: 13PROJECT FUNDING RECOMMENDATIONS Page 5 of 5