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Home My WebLink AboutOrdinance 18266-09-2008Ordinance No. 18266-09-2008 AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE SPECIAL ASSESSMENT DISTRICT FUND IN THE AMOUNT OF $1,279,623.00 FROM AVAILABLE FUNDS FOR THE PURPOSE OF FUNDING IMPROVEMENTS AND SERVICES IN PUBLIC IMPROVEMENT DISTRICT NO. 7 (HERITAGE); 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 $1,279.623.00 from available funds for the purpose of funding improvements and services in Public Improvement District No. 7 (Heritage). 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 for 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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. APPROVED AS TO FORM AND LEGALITY: Assistant City Attorne ADOPTED AND EFFECTIVE: September 9, 2008 Cii~ ®f ~ ®r~h, Texas IVlayor and Council Communication COUNCIL ACTION: Approved on 9/9/2008 -Ord. No. 18265-09-2008, 18266-09-2008, and 18267-09-2008 DATE: Tuesday, September 09, 2008 LOG NAME: 17PID07BENHEAR REFERENCE NO.: BH-237 SUBJECT: Benefit Hearing for Fort Worth Public Improvement District 7 (Heritage) 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 Premier Communities Management Company to Manage the District RECOMMENDATIOiV: 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 7 for Fiscal Year 2008-2009; 2. Approve the attached Public Improvement District 7 budget and five-year service plan for Fiscal Year 2008-2009; 3. Adopt the proposed 2008 assessment roll for Public Improvement District 7; 4. Adopt the attached ordinance which levies the proposed assessment for property located in Public Improvement District 7 for Fiscal Year 2008-2009; 5. Authorize the transfer of $75,655.00 from the General Fund to the Special Assessment District Fund (Public Improvement District 7 Fiscal Year 2008-2009 Project Account) for the City's payment in-lieu of services; 6. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations by $1,279,623.00 in the Special Assessment District Fund (Public Improvement District 7 Fiscal Year 2008- 2009 Project Account) from available funds; 7. Authorize the transfer of $24,079.00 for administrative fees from the Special Assessment District Fund, (Public Improvement District 7 Fiscal Year 2008-2009 Project Account) to the Special Trust Fund contingent upon the adoption of the proposed 2008 assessment roll; 8. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Special Trust Fund by $24,079.00 from available funds; and 9. Authorize the City Manager to execute an agreement with Premier Communities Management Company to provide management and improvement services for Public Improvement District 7 during Fiscal Year 2008-2009 for the sum of $71,372.00. Logname: 17PID07BENHEAR Page 1 of 3 DISCUSSION: On September 26, 2000, the City Council adopted Resolution No. 2675 (M&C G-13021) establishing Fort Worth Public Improvement District No. 7 (PID 7). 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 7, to adopt an ordinance levying the proposed assessments and to adopt an appropriation ordinance allocating estimated receipts to the District's fund. On August 19, 2008, (M&C G-16244) 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 Total Budgeted Costs Management Fee $71,372.00 Water $215,000.00 Electric/Maintenance $35,786.00 Irrigation $57,025.00 Landscape/Tree Maintenance $396,260.00 Fence Maintenance $44,000.00 Holiday Lighting $22,000.00 Common Area Maintenance $54,404.00 Security Patrols $27,000.00 Replacements $18,000.00 Insurance $5,000.00 Reserve (90 Day Operating) $243,357.00 Annual Review $3,500.00 City Administration $24,079.00 Hillwood Subsidy Repayment $202.042.00 Total $1,418,825.00 The total budgeted costs of the improvements are $1,418,825.00. Of this amount, $1,203,968.00 will be funded by assessments collected on privately owned parcels located in the district by applying a rate of $0.21 cents to each $100.00 of property value for residential property and $0.11 cents to each $100.00 of property value for commercial property. The remainder of the costs, $214,857.00 will be funded by other revenue sources, including $75,655 in a direct payment from the City for payment in lieu of services; $45,000.00 from the district's Builder Assessment of $200.00 per lot; and $94,202.00 from prior year's assessments. Based on the appraised value of the property and considering the benefits to be received from the proposed improvements, 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. Logname: 17PID07BENHEAR Page 2 of 3 PID 7 is commonly known as the "Heritage PID" and is located in COUNCIL DISTRICT 2. 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 5) 6) GS87 472001 002507002000 $75,655.00 6) GS87 488342 002507002000 $1,203,968.00 6) GS87 539120 002507002000 $1,279,623.00 8) FE72 511010 017587001000 $24,079.00 7) 8) FE72 481306 017587001000 $24.079.00 FROM Fund/AccountlCenters 5) GG01 538070 0905800 7) GS87 539120 002507002000 9) GS87 539120 002507002000 $75.655.00 $24,079.00 $71.372.00 Submitted for City Manager's Office b~ Tom Higgins (6140) Originating Department Head: Jay Chapa (6192) Additional Information Contact: Sylvia Flores (8550) Logname: 17PID07BENHEAR Page 3 of 3