HomeMy WebLinkAboutOrdinance 22793-06-2017Ordinance No. 22793-06-2017
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE VARIOUS TAX INCREMENT FUNDS IN THE
AMOUNT OF $50,542,808.00, FROM AVAILABLE FUNDS, FOR THE PURPOSE
OF ESTABLISHING APPROPRIATIONS IN THE VARIOUS TAX INCREMENT
FUNDS; 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 2017 in
the Budget of the City Manager, there shall also be increased estimated receipts and appropriations
in the various Tax Increment funds in the amount of $50,542,808.00, from available funds, for the
purpose of establishing appropriations in the various Tax Increment funds.
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. 22393-09-2016 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repealed.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:
�
Peter Vaky, Deputy Cit torney
ADOPTED AND EFFECTIVE: June 20, 2017
CITY SECRETARY
_ `
Mary J. fC er
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACT10N: Approved on 6/20/2017 - Ordinance'No. 22793-06 2017
DATE: Tuesday, June 20, 2017 REFERENCE NO.: G-19041
LOG NAME: 03TIF AL�OCATION FY2017
SUBJECT:
Adopt Supplemental Appropriation Ordinance Increasing Estimated Receipts and Appropriations in the
Various Tax Increment Funds in the Total Amount of $50,542,808.00 for Fiscal Year 2017 (ALL COUNCIL
DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council adopt the attached supplemental appropriation ordinance
increasing estimated receipts and appropriations in the various Tax Increment Funds in the total amount
of $50,542,808.00 for Fiscal Year 2017.
DISCUSSION:
The purpose of this Mayor and Council Communication is to establish the Fiscal Year 2017 appropriations
in the various Tax Increment Funds (TIF) Tax Increment Funds in the amount of $50,542,808.00.
On September 13, 2016 the City Council approved the Fiscal Year 2017 Appropriation Ordinance
(Ordinance No. 22393-09-2016) adopting the City's Fiscal Year 2017 budget, which did not include
appropriations for the TIF. Based on discussions with multiple departments during budget development,
the intent was to appropriate these funds under a separate process, and the appropriations were not
included in the Fiscai Year 2017 budget appropriations. Beginning in Fiscal Year 2018, this action will be
included in the City-wide appropriation ordinance with the adopted budget.
Tax Increment Funds are used to manage funds that have been designated by the City and other taxing
entities participating in each of the City's twelve Tax Increment Reinvestment Zones (the Zones), in
accordance with the Tax Increment Financing Act, Ch. 311 Texas Tax Code. Such money within each TIF
fund shail be used in accordance with legal restrictions to meet the requirements of the Zone. The
TIF funds are used for economic development and redevelopment projects within the boundaries of the
Zones in accordance with the adopted project and financing plans for each TIF and the Tax Increment
Financing Act, which authorizes the City to maintain the funds.
The funding aliocation per TIF is outlined in the following table:
Description
IRZ #3 - Downtown
TIRZ #4 - Southside Medical District
TIRZ #6 - Riverfront
TIRZ #7 - North Tarrant Pkwy
RZ #8 - Lancaster
Appropriation
____��._.._�_._.�_ ___�__
$4, 904, 318. 00
$10;259,610.00
$276,302.00
$8,859,511.00
$11,122, 284. 00
Logname: 03TIF ALLOCATION FY2017 Page 1 of 2
�28609 �TIRZ #9 - Trinity River Vision
_.__ �__ . ._._ ._. _ �w.. _ _ ____ ---- _ ______._
;28610 jTIRZ #10 - Lone Star
. _ __- _._ _ . .-_ .. ...
f28612 �TIRZ #12 - East Berry Renaissance
r_ __ _ _ .-- �� _ _ _ _ _ _rm_ _._ _ __ _ __--__ __________
�28613 �� �TIRZ #13 - Woodhaven
,28614 jTIRZ #14 - Trinity Lakes �
_ _-. _ _ _ _ __._ ---- ----- .--.-- -----
;28615 TIRZ #15 - Stockyards/Northside
. � - _._. _ r - .
28710 TIRZ #10A - Lone Star
� ___ � __��.__ e _M__
�28721 �TIRZ #2A - Texas Motor Speedway
28722 � �TIRZ #2B - Texas Motor Speedway
_,._._ . r_ __ ---
�28730 ��TIRZ #3A -lDowntown
�28770 �TIRZ #7A - North Tarrant Pkwy
�28790 TIRZ #9A - Trinity River Vision
This M&C does not request approval of a contract with a business entity.
$4,270,951.00
$653,465.00
_ _ -_. __. _ . _ --
$1,382,224.00
• ��
�, : . � : .
$2,173,674.00
$177,369.00
-_ _. .__._
$112,349.00
____
$1,133,989.00
$473, 312.00
----- --___ ._
$3,592,686.00
___.__ _. �-_ ___
$237,457.00
�. _..._ __�_ ,.-
$48,489.00
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that upon adoption of the above recommendation and the supplemental
apprapriation ordinance, funds will be available in the current operating budget, as appropriated, to the TIF
Funds.
FUND IDENTIFIERS�FIDs�:
TO
Fund Department Accoun Project Program ctivity Budget Reference # moun
ID �_ ID �` Year (Chartfield 2)
�
und� Department
ID
CERTIFICATIONS:
un Project Progra
ID
Submitted for Citv Manaaer's Office bv:
Originating Department Head:
Additional Information Contact:
Budget
Year
Susan Alanis (8180)
Lynda Johnson (6222)
Terry Hanson (7934)
Reference #
Chartfield 2;
Logname: 03TIF ALLOCATION FY2017 Page 2 of 2