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Home My WebLink AboutResolution 4668-08-2016 A Resolution NO. 4668-08-2016 APPROVING AN AMENDED BUDGET AND FIVE YEAR SERVICE PLAN FOR FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 7 (HERITAGE PID) FOR FISCAL YEAR 2015-2016 WHEREAS, pursuant to Resolution No. 2675 the City Council established the Fort Worth Public Improvement District No. 7 (the "Heritage PID") on September 26, 2000; and WHEREAS, in accordance with Chapter 372 of the Texas Local Government Code, on September 15, 2015 the City Council approved a budget for the 2015-2016 fiscal year and a five-year service plan for the Heritage PID pursuant to M&C BH-334; and WHEREAS, pursuant to City Secretary Contract No. 47113, the City has contracted with FirstService Residential Texas, Inc. ("FSR"), to manage the day-to-day administration of the Heritage PID for the 2015-2016 fiscal year; and WHEREAS, in accordance with Section 372.013(a) of the Texas Local Government Code, the City has assigned to FSR the responsibility for preparing the annual budget and five-year service plan for the Heritage PID; and WHEREAS, in accordance with the City's Policy and Guidelines for Public Improvement Districts ("PIDs"), adopted by the City Council pursuant to Resolution No. 3711-02-2009, City staff annually conducts mid-year reviews of all PID budgets to ensure that actual PID expenditures correspond with budgeted expenses; and WHEREAS, in consultation with FSR regarding actual PID expenditures and necessary programs and services required to date, City staff recommends that the City Council approve an amended budget for the Heritage PID for the 2015-2016 fiscal year; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS THAT: 1. The Budget and Five Year Service Plan for the Heritage PID is hereby amended and approved for the remainder of the 2015-2016 fiscal year in accordance with Exhibit"A" which is attached hereto. #�anaq� 2. This Resolution shall take effect immediately following its adoption. � 4° A 9 r 44 Adopted this 30 day of Au ust 2016. ,�.4° °90 0, - a °40 ATTEST: _ �v° a= � o � P �F°°¢�a By. M r J. K it See retar Y Y � Y Y ��it��o��•c� ORT WORT City of Fort Worth Five Year Service Plan-Revised Public Improvement District No.7-Heritage FY15/16 FY16/17 FY17/18 FY18/19 FY19/20 REVENUES PID Assessments $1,660,389 $1,774,149 $1,862,856 $1,955,999 $2,053,799 COFW Payment in lieu of Services 173,362 189,726 196,212 206,022 216,323 Budget Revenues $1,833,751 $1,963,875 $2,059,068 $2,162,021 $2,270,122 Use of Fund Balance 400,000 - - - Total Revenues $2,233,751 $1,963,875 $2,059,068 $2,162,021 $2,270,122 EXPENSES Management Fee 162,025 172,900 174,900 174,900 175,900 Water 210,000 210,000 210,000 215,000 215,000 Utilities 30,500 31,000 32,000 33,000 34,000 Landscape/Tree Maintenance 1,062,287 900,000 900,000 900,000 900,000 Fence Maintenance 95,000 90,000 90,000 90,000 90,000 Common Area Maintenance 86,000 87,000 88,000 89,000 90,000 Holiday Lighting 28,000 35,000 35,000 35,000 35,000 Security Enhancements 90,000 90,000 90,000 90,000 90,000 Public Events 74,000 80,000 80,000 80,000 80,000 Capital Improvements 348,131 217,493 306,411 400,002 502,647 Insurance 12,600 13,000 13,500 14,000 14,500 Annual Review 2,000 2,000 2,000 2,000 2,000 City Administrative Fee 33,208 35,482 37,257 39,119 41,075 Budget Expenses 2,233,751 1,963,875 2,059,068 2,162,021 2,270,122 Contribution to Fund Balance - - - - - Total Expenses $2,233,751 $1,963,875 $2,059,068 $2,162,021 $2,270,122 Exhibit "A" AN AMENDED BUDGET FOR FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 7 (HERITAGE PID) FOR FISCAL YEAR 2015-2016 REVENUES FY15/16 PID Assessments $ 1,660,389 COFW Payment in lieu of Services $ 173,362 Budget Revenue $ 1,833,751 Use of Fund Balance $ 400,000 Total Revenues $ 2,233,751 EXPENSES Management Fee $ 162,025 Water $ 210,000 Utilities $ 30,500 Landscape/Tree Maintenance $ 1,062,287 Fence Maintenance $ 95,000 Common Area Maintenance $ 86,000 Holiday Lighting $ 28,000 Security Enhancements $ 90,000 Public Events $ 74,000 Capital Improvements $ 348,131 Insurance $ 12,600 Annual Review(Audit) $ 2,000 City Administrative Fee $ 33,208 Total Expenses $ 2,233,751 ORT WORT FORTWORTHm Heritage Public Improvement District olL� p -1111 - �i nl, j r1 i3• GOLDEN'TRIANGLEi Rat! a 7 s =Rrr � yi U J.''r ulr ,1 r nr, c�tv ` 'ri151� F =I Q i r f J r r11 N rTi�f 414141 I� ,•I 1 4 "(1tIIi y 1 A'`F� fP+`I'IN, �i 2 ar'� r rfll J '�TkS h�1 { S� .:� t `' t`T! fr'r7Tr1 avrn Trtr�r�r!"Fr f= •?]I7 r'.�-il i� r f.rr,rrr Z-1 rf'ilYt!U ' ., �� `if,.,,At / 11 t'f• 1 :'f [Fq Ir7- jr�:ac., ',` .- '"'+'n:;fit LLd'I.,.n.,. c x' �_'`y�r"� _,(I,,a•, i.iti - � fl WERITAG E 1'Rq OE '!sly,_ - ,.r, AA t NA. z O - LU rLjq 1111 + � LEGEND - PID 7 - HERITAGE ., N 0 0.175 0.35 0.7 Miles T. T-1)1) -Q� ..I Pre ared on:August 19 2014 1 s. COPYRIGHT 2014 CITY OF FORT WORTH. UNAUTHORIZED REPRODUCTION IS A VIOLATION OF APPLICABLE LAWS. THIS PRODUCT IS FOR INFORMATIONAL PURPOSES AND MAY NOT HAVE BEEN PREPARED FOR OR BE SUITABLE FOR LEGAL, ENGINEERING, OR SURVEYING PURPOSES.IT DOES NOT REPRESENTAN ON-THE-GROUND SURVEYAND PRESENTS ONLY THE APPROXIMATE RELATIVE LOCATION OF PROPERTY BOUNDARIES. THE CITY OF FORT WORTH ASSUMES NO RESPONSIBILITY FOR THE ACCURACY OF SAID DATA. City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved on 8/30/2016 Resolution No. 4668'-08-2016 DATE: Tuesday, August 30, 2016 REFERENCE NO.: **G-18801 LOG NAME: 13FMS PID7MIDYEARFY16 SUBJECT: Adopt Resolution Approving the Revised Fiscal Year 2015-2016 Budget and Five-Year Service Plan for Public Improvement District No. 7, Heritage (COUNCIL DISTRICT 4) RECOMMENDATION: It is recommended that the City Council adopt the attached resolution approving the revised Fiscal Year 2015-2016 Budget and Five-Year Service Plan for Public Improvement District No. 7 - Heritage. DISCUSSION: The City of Fort Worth administers the City's Public Improvement Districts (PIDs), in accordance with Chapter 372 of the Texas Local Government Code. The City Policy and Guidelines provides for Staff to conduct a mid-year review of the annual budget of all PIDs and recommend adjustments as needed so the actual expenditures correspond with budgeted expenses. The City contracts with FirstService Residential Texas, Inc. (FSR), to manage the Heritage PID. FSR has identified the need to increase the budgeted Holiday Lighting line item to fund additional holiday flag displays. Additionally, FSR has requested to shift funds to the Security Enhancements line item to add additional security patrols in the area. FSR has also identified the need to fund additional fence repairs due to high winds. Finally, FSR has identified a need to increase the Capital Improvements line item to replace a detention retaining wall in the District. This increase in appropriations will be completely offset by projected end of year savings and a corresponding decrease in budget, in the Landscape/Tree Maintenance, Common Area Maintenance and Public Events line items. Line Items to be Previously Recommended Mid- Amended FY16 Adjusted Approved Year Adjustment Budget Item Budget Item em Landscape/Tree $1,112,287.00 -$50,000.00 $1,062,287.00 Maintenance Fence $90,000.00 $5,000.00 $95,000.00 Maintenance I _F Common Area $101,000.00 - 15,000.00_ $86,000.00 Maintenance Holiday Lighting $27,000.00 $1,000.00 F $28,000.00 Security F $80,000.00 $10,000.00 $90,000.00 Enhancement Public Events $85,000.00 [ $11,000.00 $74,000.00 Logname: 13FMS PID7MIDYEARFYI6 Page I of 2 Capital $288,131.00 $60,000.00 $348,131.00 Improvements lTota1 Budget Expenses $2,233,751.00 $0.00 $2,233,751.00 Staff recommends an increase of$1,000.00 in the Holiday Lighting line item, an increase of$5,000.00 in the Fence Maintenance line item, an increase of$10,000.00 in the Security Enhancements line item, an increase of$60,000.00 in the Capital Improvements line item, a decrease of$50,000.00 in the Landscape/Tree Maintenance line item, a decrease of$15,000.00 in the Common Area Maintenance line item and a decrease of$11,000.00 in the Public Events line item for a total net increase of$0.00. All other previously approved line items not mentioned above will remain the same. Upon approval of the above recommendations, the total budgeted expenses for Fiscal Year 2016 will remain $2,233,751.00. The revised Budget and Five-Year Service Plan will take effect upon approval. This M&C does not request approval of a contract with a business entity. The Heritage PID is located in COUNCIL DISTRICT 4. FISCAL INFORMATION / CERTIFICATION: The Director of Finance certifies that approval of the above recommendation will have no material effect on the City's funds. FUND IDENTIFIERS (FIDs): TO Fund Department ccoun Project Program ctivity Budget Reference # �mounl ID ID Year (Chartfield 2) FROM Fund Department ccoun Project Program ctivity Budget Reference # mountl ID ID Year (Chartfield 2) CERTIFICATIONS: Submitted for City Manager's Office by: Susan Alanis (8180) Originating Department Head: Lynda Johnson (6222) Additional Information Contact: David Reitz (7807) Logname: 13FMS PID7MIDYEARFYI6 Page 2 of 2