HomeMy WebLinkAboutOrdinance 18260-09-2008Ordinance No. 18260-09-2008
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN
THE SPECIAL ASSESSMENT DISTRICT FUND IN THE AMOUNT OF $2,127,757.00
FROM AVAILABLE FUNDS FOR THE PURPOSE OF FUNDING IMPROVEMENTS AND
SERVICES IN PUBLIC IMPROVEMENT DISTRICT NO. 1 (DOWNTOWN); PROVIDING
FOR A SEVERABILITY CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF PRIOR
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 2008-2009 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 $2,127,757.00 from available funds for the purpose of
funding improvements and services in Public Improvement District No. 1 (Downtown).
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 incorporated into the ordinance effecting the budget of the municipal
government of the City of Fort Worth far the ensuing Fiscal Year beginning October 1, 2008, and ending
September 30, 2009, 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hereby expressly repealed.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.
APPR VED AS TO FORM AND LEGALITY:
.,~i2,e 1/~ ____
Assistant City Attorne
ADOPTED AND EFFECTIVE: September 9, 2008
Cif ®f F~ In/®rth, ?°exas
Mayor and Council Communication
COUNCIL ACTION: Approved on 9/9/2008 -Ord. No. 18259-09-2008, 18260-09-2008, and
18261-09-2008
DATE: Tuesday, September 09, 2008
LOG NAME: 17PID01BENHEAR REFERENCE NO.: BH-235
SUBJECT:
Benefit Hearing for Fort Worth Public Improvement District 1 (Downtown) Concerning Proposed
Budget and Five Year Service Plan, Adoption of the 2008 Assessment Roll, Adoption of Ordinance
Levying Assessments, and Adoption of Appropriation Ordinances to Increase Estimated Receipts in
the Special Assessment District Fund and Special Trust Fund for Fiscal Year 2008-2009; and
Authorize Execution of an Agreement with Downtown Fort Worth, Inc., to Manage the District
RECOIUIMENDATION:
It is recommended that the City Council:
1. Hold a benefit hearing concerning the proposed special assessments on property located in Fort Worth
Public Improvement District 1 for Fiscal Year 2008-2009;
2. Approve the attached Public Improvement District 1 budget and five-year service plan for Fiscal Year
2008-2009;
3. Adopt the proposed 2008 assessment roll for Public Improvement District 1;
4. Adopt the attached ordinance which levies the proposed special assessments on property located in
Public Improvement District 1 for Fiscal Year 2008-2009;
5. Authorize the transfer of $132,785.00 from the General Fund to the Special Assessment District Fund
(Public Improvement District 1 Fiscal Year 2008-2009 Project Account) for the City's payment in-lieu of
services;
6. Authorize the transfer of $185,867.00 from the General Fund to the Special Assessment District Fund
(Public Improvement District 1 Fiscal Year 2008-2009 Project Account) for the City's payment in-lieu of
assessments;
7. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations by
$2,127,757.00 in the Special Assessment District Fund (Public Improvement District 1 Fiscal Year 2008-
2009 Project Account) from available funds;
8. Authorize the transfer of $45,141.00 for administrative fees from the Special Assessment District Fund
(Public Improvement District 1 Fiscal Year 2008-2009 Project Account) to the Special Trust Fund contingent
upon the adoption of the proposed 2008 assessment roll;
9. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Special Trust Fund by $45,141.00 from available funds; and
Logname: 17PIDOlBENHEAR Page 1 of 3
10. Authorize the City Manager to execute an agreement with Downtown Fort Worth, Inc., to provide
management and improvement services for Public Improvement District 1 during Fiscal Year 2008-2009 for
the sum of $324,200.00.
DISCUSSION:
On July 20, 2004, the City Council adopted Resolution No. 3105 (G-14435) establishing Fort Worth Public
Improvement District No. 1 (PID 1).
The purpose of this benefit hearing is to receive comments from the public regarding the Fiscal Year 2008-
2009 proposed assessments to be levied on each property in PID 1, to adopt an ordinance levying the
proposed assessments and to adopt appropriation ordinances allocating estimated receipts to the District's
fund.
On August 19, 2008, (M&C G-16242) the City Council conducted a public hearing to receive comments on
the proposed Fiscal Year 2008-2009 five-year service plan and budget (attached), and provided notice of
this benefit hearing.
The improvements and services to be provided and the costs thereof are:
Improvements
Management Fee
Maintenance and Landscaping
Security Enhancement
Promotions
Marketing and Research
Transportation and Planning
Contingency
City Administration
Total
Total Budgeted Costs
$324,200.00
$1,275,200.00
$114,877.00
$10,000.00
$538,142.00
$419,318.00
$40,369.00
$45.141.00
$2,767,247.00
The total budgeted costs of the improvements are $2,767,247.00. Of this amount, $1,773,105.00 will be
funded by assessments collected on privately owned parcels located in the district by applying a rate of
$0.11 cents to each $100.00 of property value. The remainder of the costs, $994,142.00 will be funded by
other revenue sources, including $185,867.00 in direct payment from the City for payment in lieu of
assessments; $132,785.00 in direct payments from the City for payment in-lieu of services; $155,565.00 in
revenues generated by district activities; $36,000.00 in interest earned; and $483,925.00 from prior year
assessments.
Based on the appraised value of the property, and considering the benefits to be received from the
proposed improvements and services, it is the opinion of the City 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.
This property is commonly known as the "Downtown PID" and is located in COUNCIL DISTRICT 9.
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that upon approval of the above recommendations and adoption of the
attached appropriation ordinances, funds will be available in the Fiscal Year 2008-2009 operating budget,
as appropriated, of the Special Assessment District Fund, and the Special Trust Fund.
TO Fund/Account/Centers FROM Fund/Account/Centers
Logname: 17PIDOIBENHEAR Page 2 of 3
7) GS87 472001 002501002000 $132,785.00 5) GG01 538070 0905800 $132.785.00
7) GS87 488342 002501002000 $1,773.105.00 8) GS87 539120 002501002000 $45.141.00
GS87 441012 002501002000 $36.000.00 ~ 0001 538070 0905800 $185.867.00
8) 9) FE72 481306 017587001000 $45.141.00 10) GS87 539120 002501002000 $324.200.00
9) FE72 511010 017587001000 $45.141.00
6) 7) GS87 472001 002501002000 $185,867.00
7) GS87 539120 002501002000 $2,127,757.00
Submitted for City Manager's Office b~ Tom Higgins (6140)
Originating_Department Head: Jay Chapa (6192)
Additional Information Contact: Sylvia Flores (8550)
Logname: 17PIDOlBENHEAR. Page 3 of 3