Loading...
HomeMy WebLinkAboutOrdinance 22883-09-2017 Ordinance No. 22883-09-2017 AN ORDINANCE INCREASING APPROPRIATIONS IN THE FORT WORTH PUBLIC IMPROVEMENT DISTRICT 1 — DOWNTOWN FUND IN THE AMOUNT OF $54,420.00 AND DECREASING THE FORT WORTH PUBLIC IMPROVEMENT DISTRICT 1 — DOWNTOWN FUND UNAUDITED, UNASSIGNED FUND BALANCE BY THE SAME AMOUNT, FOR THE PURPOSE OF FUNDING THE FISCAL YEAR 2017-2018 ANNUAL OPERATING BUDGET; 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 2017-2018 in the Budget of the City Manager, there shall also be increased appropriations in Fort Worth Public Improvement District 1 —Downtown Fund in the amount of$54,420.00, and decreasing the Fort Worth Public Improvement District 1 — Downtown Fund unaudited, unassigned fund balance by the same amount, for the purpose of funding the Fiscal Year 2017-2018 annual operating budget. 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, 2017, and ending September 30, 2018, 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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 D-faALITY: CITY SECRETARY Syler Walla ant City Attorney Miry J. Kay e AD ED AND EFFECTIVE: September 12, 2017 FORT WORTH City of Fort WorthU0 --��� Five Year Service Plan FY 2017-18-FY 2021-22 mug Public Improvement District No. 1 -Fort Worth FYI 7/18 FY18/19 FY19/20 FY20/21 FY21/22 REVENUES PIDAssessments $2,487,232 $2,536,977 $2,587,716 $2,639,470 $2,692,260 COFW Assessment $204,000 $208,080 $212,242 $216,486 $220,816 COFW Payment in lieu of Services $147,009 $149,949 $152,948 $156,007 $159,127 PID Generated Revenue $153,141 $153,141 $153,141 $153,141 $153,141 Budget Revenues $2,991,382 $3,048,146 $3,106,046 $3,165,105 $3,225,344 Use of Fund Balance 54,420 57,900 59,058 60,239 61,444 Total Revenues $3,045,802 $3,106,046 $3,165,104 $3,225,344 $3,286,788 EXPENSES Management Fee 287,893 293,651 299,524 305,514 311,625 Water 12,000 12,240 12,485 12,734 12,989 Utilities 5,000 5,100 5,202 5,306 5,412 Landscaping 105,000 107,100 109,242 111,427 113,655 Trash Removal 1,193,307 1,217,173 1,241,517 1,266,347 1,291,674 HolidayLight/Deco 25,000 25,500 26,010 26,530 27,061 Security 60,000 60,000 60,000 60,000 60,000 Ambassador Program 575,000 594,050 607,131 620,474 634,083 Communications/Newsletters 5,000 5,100 5,202 5,306 5,412 Marketing&Research 399,810 407,806 415,962 424,282 432,767 Transportation&Planning 185,290 188,996 192,776 196,631 200,564 Insurance 5,850 5,967 6,086 6,208 6,332 Annual Review 15,000 15,300 15,606 15,918 16,236 City Administrative Fee 54,420 57,900 59,058 60,239 61,444 Budget Expenses 2,928,570 2,995,883 3,055,801 3,116,917 3,179,255 Contribution to Fund Balance 117,232 110,163 109,303 108,427 107,533 Total Expenses $3,045,802 $3,106,046 $3,165,104 $3,225,344 $3,286,788 Notes: 1. This 5-year service plan is based on$0.125 assessment rate 2. FY17-18 estimates the flat valuation from FY16-17 3. FY17-18 includes$0.025 rate increase required forAmbassador Program Submitted by Downtown Fort Worth,Inc. * revised September 5,2017 FOR`WORTH© Downtown Public Improvement District }4y 'a. .{�y4 i \� e 2 7 4 ` 1 8 ra *I � •: r j- y 04' 4•- *_' .r ;"+Ing.r �\ ysr 5 *' M 1 X1 6: 0 w WHI`LSETTLEMLNI'- `• . * �� '• � .op v ' THrt E � 10THTax �� S F_ 177 i� - • i �.•f`*4 a fi',t a may.-� 'r� � E ,� _F w"30'Ealw35W S9 Na ;Q - 'I LEGEND PID 1 - DOWNTOWN „• �� 0 0.125 0.25 0.5 Miles Pre ared on-Au ust 19 2014 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 9/12/2017 - Ordinance Nos. 22881-09-2017, 22882-09-20.17 & 22883-09-2017 DATE: Tuesday, September 12, 2017 REFERENCE NO.: BH-372 LOG NAME: 03PBD PID1 FY18 SUBJECT: Conduct Public Benefit Hearing for Public Improvement District 1, Downtown PID, Approve Fiscal Year 2017-2018 Budget and Five-Year Service Plan in the Amount of$3,045,802.00, Approve Tax Year 2017 Assessment Roll, Adopt Ordinance Levying Special Assessments for the 2017 Tax Year at a Rate of $0.125 Per Each $100.00 of Property Value, Adopt Ordinance Increasing Estimated Receipts and Appropriations in the Fort Worth Public Improvement District 1 - Downtown Fund in the Amount of $2,991,382.00, Adopt Ordinance Increasing Appropriations in the Fort Worth Public Improvement District 1 - Downtown Fund in the Amount of$54,420.00, and Reducing Unaudited, Unassigned Fund Balance by the Same Amount, and Authorize Execution of an Agreement with Downtown Fort Worth, Inc., in the Amount of$287,893.00 to Manage the District (COUNCIL DISTRICT 9) RECOMMENDATION: It is recommended that the City Council: 1. Conduct a public benefit hearing concerning the proposed special assessments on the property located in Public Improvement District 1, Downtown Public Improvement District for the 2017 tax year; 2. Approve the attached Fiscal Year 2017-2018 Budget and Five-Year Service Plan for the Downtown Public Improvement District in the amount of$3,045,802.00; 3. Approve the Tax Year 2017 Assessment Roll for the Downtown Public Improvement District, on file with the City Secretary; 4. Adopt the attached ordinance levying special assessments on the property located in the Downtown Public Improvement District for the 2017 tax year at a rate of$0.125 per each $100.00 of property value; 5. Adopt the attached ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District 1 - Downtown Fund in the amount of$2,991,382.00 from available funds; 6. Adopt the attached ordinance increasing appropriations in the Fort Worth Public Improvement District 1 - Downtown Fund in the amount of$54,420.00, and reducing the unaudited, unassigned fund balance by the same amount; and 7. Authorize the execution of an Agreement with Downtown Fort Worth, Inc., in the amount of $287,893.00 to provide management and improvement services for the Downtown Public Improvement District during Fiscal Year 2017-2018. DISCUSSION: On June 23, 2009, Mayor and Council Communication (M&C C-23627) the City Council adopted Logname: 03PBD PIDIFY18 Page I of 3 Resolution No. 3756-06-2009 re-establishing Fort Worth Public Improvement District 1 (Downtown PID). The purpose of this benefit hearing is to receive comments from the public regarding the 2017-2018 Fiscal Year Budget and Five-Year Service Plan for the Downtown PID and the proposed assessments to be levied on each property in the Downtown PID for the 2017 tax year. Following the public hearing, it is recommended that the City Council approve the Tax Year 2017 Assessment Roll for the Downtown PID, approve the attached Budget and Five-Year Service Plan, adopt the attached ordinance levying the special assessments, and adopt the appropriation ordinances increasing estimated receipts and appropriations in the Fort Worth Public Improvement District 1- Downtown Fund. On August 29, 2017, the City Council conducted a public hearing (M&C BH-358) to receive comments on the proposed 2017-2018 Fiscal Year Budget and Five-Year Service Plan for the PID. Notice of this benefit hearing was published in the Fort Worth Star Telegram am and mailed to all record owners of property in the Downtown PID, in accordance with state law. The improvements and services to be provided in the PID during the 2017-2018 Fiscal Year and the costs thereof are as follows: Improvements Total Budgeted Costs Management Fee $287,893.00 Water $12,000.00 Utilities $5,000.00 Landscaping $105,000.00 Trash Removal $1,193,307.00 Holiday Light/Deco $25,000.00 Security $60,000.00 Ambassador Program $575,000.00 Communications/Newsletters $5,000.00 Marketing & Research $399,810.00 Transportation & Planning $185,290.00 Insurance $5,850.00 Annual Review $15,000.00 City Administrative Fee $54,420.00 Contribution to Fund Balance $117,232.00 Total Expenses $3,045,802.00 The total budgeted costs of the improvements are in the amount of$3,045,802.00. Of this amount, $2,487,232.00 will be funded by assessments collected on privately owned parcels located in the PID by applying a rate of$0.125, representing an increase of$0.02, to each $100.00 of property value. The remainder of the costs in the amount of$558,570.00 will be funded by other revenue sources including: an amount equal to $204,000.00 in direct payments from the City for Payment In-Lieu of Assessments, an amount equal to $147,009.00 in direct payments from the City for Payment In-Lieu of Services, an amount equal to $153,141.00 in revenues generated by PID activities, and an amount equal to $54,420.00 transferred from unaudited, unassigned fund balance. The Downtown PID is located in COUNCIL DISTRICT 9. FISCAL INFORMATION / CERTIFICATION: The Director of Finance certifies that upon approval of the above recommendations and the adoption of Logname: 03PBD PIDIFYI8 Page 2 of 3 the Fiscal Year 2017-2018 Budget by the City Council, funds will be available in the Fiscal Year 2018 operating budget, as appropriated, of the Fort Worth Public Improvement District 1 - Downtown Fund. FUND IDENTIFIERS (FIDs): TO Fund Department ccoun Project Program ctivity Budget Reference # moun ID ID Year Chartfield 2 FROM Fund Department ccoun Project JProgram ctivity Budget Reference # �mi;l 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: Terry Hanson (7934) Logname: 03PBD PID 1 FY 18 Page 3 of 3