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Home My WebLink AboutOrdinance 22888-09-2017 Ordinance No. 22888-09-2017 AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE FISCAL YEAR 2017-2018 FORT WORTH PUBLIC IMPROVEMENT DISTRICT 7 — HERITAGE FUND IN THE AMOUNT OF $2,145,854.00, FROM AVAILABLE FUNDS, CONTINGENT UPON THE ADOPTION OF THE ORDINANCE LEVYING SPECIAL ASSESSMENTS FOR THE 2017 TAX YEAR, FOR THE PURPOSE OF PROVIDING MANAGEMENT AND IMPROVEMENT SERVICES FOR THE HERITAGE PUBLIC IMPROVEMENT DISTRICT DURING FISCAL YEAR 2017-2018; 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 estimated receipts and appropriations in the Fiscal Year 2017-2018 Fort Worth Public Improvement District 7— Heritage Fund in the amount of$2,145,854.00, from available funds, contingent upon the adoption of the ordinance levying special assessments for the 2017 Tax Year, for the purpose of providing management and improvement services for the Heritage Public Improvement District during Fiscal Year 2017-2018. 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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 LEGALITY: CITY CRETA Tyler W ch,Assistant City Attorney Mary J. Ka s ADOPTED AND EFFECTIVE: September 12, 2017 City of Fort worth Five Year Service Plan Public Improvement District No.7-Heritage FY18/19 FY19/20 FY20/21 FY21/22 FY22/23 REVENUES PID Assessments $1,954,758 $1,996,548 $2,036,479 $2,077,209 $2,118,754 COFW Payment in lieu of Services 191,096 191,096 191,096 191,096 191,096 Budget Revenues $2,145,854 $2,187,644 $2,227,575 $2,268,305 $2,309,850 Use of Fund Balance 75,000 75,000 75,000 75,000 75,000 Total Revenues $2,220,854 $2,262,644 $2,302,575 $2,343,305 $2,384,850 EXPENSES Management Fee 100,872 102,890 104,948 107,047 109,188 Utilities 325,000 331,500 338,130 344,893 351,791 Landscape Tree Maintenance 931,000 956,155 981,813 1,007,984 1,034,680 Common Area Maintenance 267,829 274,843 279,356 283,960 288,656 Holiday Lighting 30,808 30,808 30,808 30,808 30,808 Security Enhancements 125,000 125,000 125,000 125,000 125,000 Public Events 85,000 85,000 85,000 85,000 85,000 Capital Improvements 300,000 300,000 300,000 300,000 300,000 Insurance 13,350 13,617 13,890 14,168 14,452 Annual Review 2,900 2,900 2,900 2,900 2,900 City Administration Fee 39,095 39,931 40,730 41,545 42,375 Budget Expenses 2,220,854 2,262,644 2,302,575 2,343,305 2,384,850 Total Expenses $2,220,854 $2,262,644 $2,302,575 $2,343,305 $2,384,850 FORT WORTH Heritage Public Improvement District _ N _ 'GOLDENIITRIANGLE . I I t i Y �f Wpm _ 4 2 Ga Y p h P Wp - HERITAGE TRACE r" I� 1 A A, C' torr.�`r.*-C,+yt'1'''• *.+.7P,. ., . N?'`- Z i `jae. W '� :t r w 4 T r e •ywul �W - OaC Y r LEGEND n r a. 7 ID - HERITAGE AVS_ r 5.,' P N 0 0.175 0.35 0.7 Miles ! `',-, ■'i. '`'� 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. 22887-09-2017, 22888-09-2017 & 22889-09-2017 DATE: Tuesday, September 12, 2017 REFERENCE NO.: BH-374 LOG NAME: 03PBD PID7FY18 SUBJECT: Conduct Public Benefit Hearing for Public Improvement District 7, Heritage PID, Approve Fiscal Year 2017- 2018 Budget and Five-Year Service Plan in the Amount of$2,220,854.00, Approve Tax Year 2017 Assessment Roll, Adopt Ordinance Levying Special Assessments for the 2017 Tax Year at the Rates of $0.21 Per Each $100 of Residential Property Value and $0.11 Per Each $100 of Commercial Property Value, Adopt Ordinance Increasing Estimated Receipts and Appropriations in the Fort Worth Public Improvement District 7 - Heritage Fund in the Amount of$2,145,854.00, Adopt Ordinance Increasing Appropriations in the Fort Worth Public Improvement District 7 - Heritage Fund in the Amount of $75,000.00, and Reducing Unaudited, Unassigned Fund Balance by the Same Amount, and Authorize Execution of an Agreement with FirstService Residential Texas, Inc., in the Amount of$100,872.00 to Manage the District (COUNCIL DISTRICTS 4 and 7) 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 7, Heritage Public Improvement District for the 2017 tax year; 2. Approve the attached Fiscal Year 2017-2018 Budget and Five-Year Service Plan for the Heritage Public Improvement District in the amount of$2,220,854.00; 3. Approve the Tax Year 2017 Assessment Roll for the Heritage Public Improvement District, on file with the City Secretary; 4. Adopt the attached ordinance levying special assessments on the property located in the Heritage Public Improvement District for the 2017 tax year at the rates of $0.21 per each $100 of residential property value and $0.11 per each $100 of commercial property value; 5. Adopt the attached ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District 7 - Heritage Fund in the amount of$2,145,854.00, from available funds; 6. Adopt the attached ordinance increasing appropriations in the Fort Worth Public Improvement District 7 - Heritage Fund in the amount of$75,000.00, and reducing the unaudited, unassigned fund balance by the same amount; and 7. Authorize the execution of an Agreement with FirstService Residential Texas, Inc., in the amount of $100,872.00 to provide management and improvement services for the Heritage Public Improvement District during Fiscal Year 2017-2018. Logname: 03PBD PID7FY18 Page I of 3 On September 26, 2000, Mayor and Council Communication (M&C G-13021) the City Council adopted Resolution No. 2675 establishing Fort Worth Public Improvement District No. 7 (Heritage 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 Heritage PID and the proposed assessments to be levied on each property in the Heritage 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 Heritage PID, approve the attached Budget and Five-Year Service Plan of the Heritage PID, adopt the attached ordinance levying the proposed assessments, and adopt the attached ordinances increasing estimated receipts and appropriations in the Fort Worth Public Improvement District 7— Heritage Fund. On August 29, 2017, (M&C BH-360) the City Council conducted a public hearing to receive comments on the proposed 2017-2018 Fiscal Year Budget and Five-Year Service Plan for the Heritage PID. Notice of this benefit hearing was published in the Fort Worth Star Telegram and mailed to all record owners of property in the Heritage 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 $ 100,872.00 Utilities _Is 325,000.00 Landscape/Tree $ 931,000.00 Maintenance Common Area Maintenance $ 267,829.00 Holiday Lighting F$_ 30,808.00 Security Enhancement $ 125,000.00 Public Events F$� 85,000.00 Capital improvements 300,000.00 Insurance Is 13,350.00 Annual Review I- 2,900.00 City Administration Fee I 39,095.00 Total Expenses $ 2,220,854.00 The total budgeted costs of the improvements are in the amount of $2,220,854.00. Of this amount, $1,954,758.00 will be funded by assessments collected on privately owned parcels located in the district by applying a rate of $0.21 cents per each $100.00 of property value for residential property and $0.11 cents per each $100.00 of property value for commercial property. The remainder of the costs in the amount of $266,096.00 will be funded by other revenue sources: an amount equal to $191,096.00 in direct payments from the City for Payment In-Lieu of Services and an amount equal to $75,000.00 from unaudited, unassigned fund balance. The Heritage PID is located in COUNCIL DISTRICTS 4 and 7. FISCAL INFORMATION /CERTIFICATION: The Director of Finance certifies that upon approval of the above recommendations and the adoption of the Fiscal Year 2017-2018 Budget by the City Council, funds will be available in the Fiscal Year 2018 Logname: 03PBD PID7FY18 Page 2 of 3 operating budget, as appropriated, of the Fort Worth Public Improvement District 7 - Heritage Fund. FUND IDENTIFIERS (FIDs): TO Fund Department ccoun Project Program ctivity Budget Reference # moun ID ID Year Chartfield 2 FROM Fund Department ccoun Project Program ctivity Budget Reference # moun 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 PID7FY18 Page 3 of 3