HomeMy WebLinkAboutResolution 3884-05-2010A Resolution
NO 3884-05-2010
APPROVING AN AMENDED BUDGET FOR
FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO 7
(HERITAGE PID}
FOR FISCAL YEAR 2009-2010
WHEREAS pursuant to Resolution No 2675 the City Council created the Fort Worth Public
Improvement District No 7 (the "Heritage PID") on September 26, 2000• and
WHEREAS m accordance with Chapter 372 of the Texas Local Government Code, on
September 8, 2009 the City Council approved a budget for the 2009-2010 fiscal year and afive-year
service plan for the Heritage PID pursuant to M&C BH 242, and
WHEREAS pursuant to City Secretary Contract No 39345 the City has contracted with
Premier Communities Management Company to manage the day to-day administration of the Heritage
PID for the 2009-2010 fiscal year and
WHEREAS in accordance with Section 372 013(a) of the Texas Local Government Code, the
City has assigned to the Premier Communities Management Company the responsibility for preparing
the annual budget and five-year service plan for the Heritage PID• and
WHEREAS in accordance with the Crty'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 the Premier Communities Management Company 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 2009-2010 fiscal year
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS THAT
1 The following amended budget for the Heritage PID is hereby approved for
the remainder of the 2009 2010 fiscal year
ORTWORr„~
RESOLUTION NO 3884-05-2010
Line Item Previously Recommended Amended
Approved Mid Year Budget
Budget Adjustments
Management Fee $73 006 $0 $73 006
Water $221 193 $0 $221 193
Electric/Mamten $42 135 $0 $42 135
ance
Irrigation $80 000 $0 $80 000
Landscape/Tree $514 227 $0 $514 227
Maintenance
Fence $65 000 $0 $65 000
Maintenance
Holiday $22 000 $0 $22 000
Lighting
Common Area $90 711 $23 000 $113 711
Maintenance
Security Patrols $27 000 $0 $27 000
Replacements $161 122 ($112 553 11) $48 568 89
Insurance $5 620 $0 $5 620
Community $15 000 $0 $15 000
Events
Annual Review 2 000 $0 2 000
ORT WORT,
s
RESOLUTION NO 3884-OS-2010
City $25 378 $0 $25 378
Administration
Surplus Capital $0 $89 553 11 $89 553 11
Improvements
Subsidy $198 320 $0 $198 320
Repayment
Estimated $400 000 $0 $400 000
Operating
Reserve
TOTAL $1 942,712 $1 942 712
2 This Resolution shall take effect immediately following its adoption
Adopted this 18th day of May 2010
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ATTEST .,~ r. -.. ~z
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Marty Hendrix' City Secretary
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ORT WORT
APPROVED
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MAY 1$2010
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City Secretary of the
City of Fort Worth. Texas
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RESOLUTION NO 3884-05-2010
City of Fort Worth
Five Year Service Plan
Public Improvement District No. 7 HERITAGE
REVENUES
Assessment Revenues
City Reimbursement
Initiation Fee
Prior Year Assessment
Total Revenues
EXPENSES
Management Fee
Water
Electric/Maintenance
Irrigation
Landscape(Tree Maintenance
Fence Maintenance
Holiday Lighting
Common Area Maintenance
Security Patrols
Replacements
Insurance
Community Events
Annual Review
City Administration
Surplus Capital Improvements
Subsidy Repayment
Budget Expenses
Estimated Operating Reserve
FY 09/10 FY 10/11 FY 11/12 FY 12/13 FY 13/14
1,268,913 1, 344, 513 1,420,113 1,422,633 1,465, 312
121,341 127,408 133,778 140,467 147,491
12,000 12,000 2,800
540,458 $400,000 $400,000 $400,000 $400,000
$1 942,712 $1 883 921 $1 956 fi91 ~~ yci~,~uu ~~,u~~,uu3
73 006 74 834 75 827 78 063 80 366
221 193 258 527 277 623 312,057 333,901
42;135 59 384 57,291 49 967 52,722
80 000 85 600 91 592 98,003 80 000
514,227 535,175 554 078 589 998 606,007
65 000 55 000 65 000 55 000 55,000
22,000 25,000 27 000 27 000 27 000
113 711 82,389 77 516 72,161 74 961
27 000 30 000 33 000 33,000 33 000
48,569 138,000 160 000 110 000 110 000
5 620 5 789 5 962 6 141 6 325
15 000 30 000 30 000 30 000 30 000
2,000 2,060 2,122 2,185 2,251
25 378 26,890 28 402 28,453 29 306
89 553 75,273 71,278 71 072 91 963
198,320
$1 542,712 $1 483,921 $1 556 691 $1 563,100 $1 612,803
400 000 400 000 400 000 400 000 400 000
Total Expenses $1 942,712 $1 883 921 $1 956,691 $1 963,100 $2,012,803
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City of Fort Worth, Texas
Mayor and Council Communication
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.COUNCIL ACTION: Approved on 5!98/2010 -Res. No. 388405-2010
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DATE Tuesday May 18 2010 REFERENCE NO G-16935
LOG NAME 17PID7NEWBUDFY10
SUBJECT
Adopt a Resolution Approving Revised Fiscal Year 2009-2010 Budget and Service Plan for Public
Improvement District No 7 (Heritage PID) (COUNCIL DISTRICT 2)
RECOMMENDATION
It is recommended that the City Council adopt the attached Resolution approving a revised 2009-2010
Fiscal Year Budget and Service Plan for Public Improvement District No 7 (Heritage PID).
DISCUSSION
On September 8 2009 (M&C BH-242) the City Council adopted a Budget and Service Plan for the
Heritage PID for the 2009-2010 Fiscal Year
The City of Fort Worth's (City) Policy and Guidelines for Public Improvement Districts (PIDs) provides for
City staff to administer and oversee all PIDs The staff conducts amid-year review of the annual budgets
of all PIDs and recommends adjustments as needed so that actual PID expenditures reasonably
correspond with budgeted expenses If funds are available after collection of final assessments these
adjustments may allow for additional proposed PID projects that were discussed in the City Council's
public hearing concerning the assessments but that were not included in the original budget. The
proposed revisions to the Heritage PID Budget and Service Plan for the 2009-2010 Fiscal Year with
corresponding explanations, are as follows.
. ,:: _ _ _:. _....
Line Item Approved ,1 _.....::m..
Mid Year
' Revised
Budget
ustment
Ad
Bud et
9
0!
,Management Fee $73 006 00;
_ _ $73 006.00!,
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____
`Water $221 193 00 ~ 0
_. _ $221 193 00~'
__
_
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I
Electric/Maintenance $42 135 00 ~ 0
~
$42 135 00 ,
~
;
-::: _
-
Irn anon ~ $80 000 00 0
.
g
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~ $80 000 00'j
...._
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.......
....__ ,~ ......
~_._
Landscape/Tree _ _ __ _
$514,227 00 ~ 0
i if
$514 227 00
;
Maintenance
... _._ . ..,,.... ....,..,_ .,, _.... _... ...
.. ......... .. .......
....__.....
.._....
...,.
;Fence Maintenance $65 000 00
0
$65 000 00
_....
Holiday Lighting $22 000 00
~ 0
..
~$22 000 00'
_.
1 Common Area
;Maintenance ' $90,711 00
$23,000 00
$113,711 OO
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Security Patrols $27 000 00 _
~ 0' $27 000 OOa'
~:
-
122
0
0
2. Replacements $161,
.
- -
_ --
($112,553 11) $48,568 89 00
.
.
.
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Insurance $5 620 00 ~ 0 j _.. $5 620 00
Community Events $15 000 00 ~~ 0 j ~~$15 000 00'
__~~~~~
Annual Review $2 000 00'
0
~ $2 000 00;
$25 378 00 ~
City Administration
m O ~ $25 378 00'
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3. Surplus Capital p
Im rovements
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$89,553 11:
_ _ _
$89 553 11;x.
_ _ ~ ~
Subsidy Repayment $198 320 OOi ~~ 0
_ ~ $198 320 00!
_~
jEstimated Operating $400 000 00~ 0
jReserve $400 000 00;
-~
TOTAL ~ $1,942,712 00 $1,942,712.00
Explanation
1 A $23 000 00 increase for Common Area Maintenance to pay for contractual services for the
creation of a five-year Capital Improvement Plan to study common areas parkways open spaces
and pocket parks within the Heritage Community
2 A $112 553 11 decrease in Replacements. Reclass budget amount to Common Area Maintenance
and Ca~tal Improvements, and
3 A $89 553 11 increase for Capital Improvements. Shade covers ($29 310 72) for playground areas
Green Rain Smart Irrigation ($58 742 39), and professional fee ($1 500 00 00) to TBG Inc. for
Landscape Architectural Services which was not included in the PID 7 budget.
Upon adoption of the resolution, the revised budget and plan of service will take effect.
The Heritage PID is located in COUNCIL DISTRICT 2.
FISCAL INFORMATION /CERTIFICATION
The Financial Management Services Director certifies that this action will have no material effect on City
funds
FUND CENTERS
TO Fund/Account/Centers
FROM Fund/Account/Centers
CERTIFICATIONS
Submitted for City Manager's Office bv:
Originating Department Head:
Additional Information Contact:
Thomas Higgins (6192)
Jay Chapa (5804}
Sylvia Flores (8550)
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