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HomeMy WebLinkAboutResolution 1829~. A Resolution Adopted Resolution No.,C~ Creating Public Improvement District No. 4 WHEREAS, on April 14, 1992, a petition for creation of the Fort Worth Improvement District No. 4 was received by the City Council of the City of Fort Worth; and WHEREAS, on April 21, 1992, the City Council found and determined that such petition included sufficient signatures and met other requirements of Sections 372.002 and 372.005 of the Public Improvement District Assessment Act {V.T.C.A., Local Government Code, Section 372.001, et seq.) (the "Act"); and WHEREAS, the City Secretary of the City of Fort Worth gave written notice and notice by publication that a public hearing would be held by the City Council on May 26, 1992 at 10:00 a.m., in accordance with Section 372.009 of the Act; and WHEREAS, the City Council held such public hearing on May 26, 1992, finally adjourned such hearing, and voted to adopt the following Resolution which authorizes establishment of the district and the exercise of the powers granted by the Act, makes findings concerning improvements and/or services to be provided by the district and authorizes the City Secretary to publish notice of establishment of the district; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: 1. The City Council, after duly considering the evidence and testimony presented at the public hearing held on May 26, 1992, hereby makes the following findings: (a) It is advisable to establish a public improvement district under the Public Improvement District Assessment Act (V.T.C.A., Local Government Code, Section 372.001, et seq.), which district shall be known as the Fort Worth Improvement District No. 4. (b) It is advisable to authorize the City of Fort Worth to exercise the powers granted by the Public Imgrovement District Assessment Act in connection with the establishment of a public improvement district, including utilizing the district to undertake improvement projects and/or services that confer a special benefit on property in the district and the levying and collecting of special assessments on property in the district, based on the benefit conferred by the improvement projects and/or services, to pay the costs of such projects and/or services. CITY OF FORT WORTH .. :~; (c) It is advisable for improvements and/or services to be undertaken and provided by the district. (d) The general nature of the improvements and/or services to be initially provided by the district shall include: (1) maintenance program COIIS1Stin( maintenance of supplementa: maintenance of supplemental maintenance of supplemental along Park Vista Boulevard, North Beach Street, and in and spaces; of the planting and landscaping, the fencing, and the irrigation systems Basswood Boulevard, along parks and open (2) an improvement district management program to provide for the establishment, administration, management and operation of the district. The District shall be authorized to engage in any activity permitted under Section 372.001 et. seq. of the Local Government Code, subject to annual approval by the City Council. The improvements and/or services will be a supplement to the standard existing level of city improvements and/or services and will constitute an added increment to the improvements and/or services normally provided to the taxpayers generally. The City will continue to furnish or pay for standard improvements and/or services in the district at the same level as they would be provided to the taxpayers generally. (e) The estimated costs of the improvements and/or services for the district during the first year of operation are: (1) .City Administration Costs $ 10,000 (2) Cost of Maintenance $ 48,500 (3) Expense of Administration and Operation $ 2,500 TOTAL ESTIMATED COST $ 61,000 The cost of providing additional supplemental services in subsequent years will be determined in the annual service plan to be adopted and amended on an annual basis by the City Council. The annual service plan may include a reasonable capital reserve for costs of replacement of capital improvements. crrx yr r vx-r wux-rti i ~„ t. . (f) The improvement district consists of a tract of land containing 677.411 acres, more or less, in the City of Fort Worth, Tarrant County, Texas, and is a portion of the land lying north of Western Center Boulevard, east of North Beach Street and west of Denton Highway (S.H.377). A map of the proposed district' is on file in the office of the City Secretary, 1000 Throckmorton Street, Fort Worth, Texas, and is made a part hereof by reference. The boundaries of the improvement district are more particularly described by metes and bounds in Exhibit "A" attached hereto and made a part hereof by reference. (g) The method of assessment is: (1) A service plan will be approved and adopted by the City Council for a period of not less than five years. The plan would be reviewed and updated annually by the City Council to determine the annual budget for improvements and/or services within the district. (2) The cost of improvements and/or services will be assessed against real property within the district on an ad valorem basis. The assessment rate per $100 of assessed valuation during the District's first year will be no greater than $0.16. The assessment rate for subsequent years will be determined in the annual budget and plan of services approved by the City Council. (3) The City Council of the City of Fort Worth will be authorized to establish by ordinance reasonable classification and formulas for the apportionment of costs between the City and the property to be accessed and to establish the methods for assessing special benefits for various classes of improvements and/or services. (h) The apportionment of costs between the improvement district and the city as a whole shall be: (1) All of the cost of any improvement and/or service shall be paid by special assessments against real property and structures or other improvements thereon in the district. (2) The City as a whole will continue to provide standard improvements and services to the district at the same level as they are provided to the taxpayers generally. CITY OF FORT WORTH (3) Each annual plan of service and budget will fully fund all costs incurred by the City in connection with the administration of the District including, but not limited to the costs for personnel, data services, appraisals, notifications, and collection of-fees. The City shall have the option to use in- house personnel or to contract with outside agencies to provide the same services if it is more cost effective to do so. (i) The probable maximum benefits to be conferred on each tract in the district because of the improvements and/or services will be greater than the amount of the assessment against such tract and the owners thereof. (j) The area to be assessed may not include any property not within the area described in paragraph (.f) unless an additional hearing is held to include the property and notice for the hearing is given in the same manner as notice under Section 372.009 of the Public Improvement District Assessment Act. (k) The District will be managed by a private corporation under a professional services contract with the City. 2. The following additional provisions are applicable to Public Improvement District No. 4: (a) Relationship to Public Improvement District No. 2 District No. 4 borders Public Improvement District No. 2 which was established in 1988. Both are part of the Park Glen residential area being developed by the Hillwood Construction Company and Hillwood/Park Glen, Ltd. Hillwood Construction Company will provide management services for both districts. While the same services are to be provided in both districts, state law requires that assessments-from the two districts be kept in separate funds. In addition, the City will require the management company to maintain separate financial records for both districts. (b) Capital reimbursement to developer The area included in District No. 4 is currently being developed as a single family residential neighborhood by the Hillwood Construction Company and Hillwood/Park Glen Ltd. However, the petition prohibits any assessment revenues from being used to reimburse the de~loper for any capital develooment costs. CITY OF FORT WORTH :~ ~/ (c) Termination of District As presented, the petition does not provide a sunset clause for District No. 4. However, State law allows for the City to terminate the district if a sufficient number of property owners submit a petition for termination. In addition, the petition provides that City may terminate the district on every fifth year anniversary of its creation should the Council determine-that termination is in the best interests of the property owners. This would not require a property owner petition, but would only require a public hearing. {d) Formation of back-up homeowners association Creation of the district does not obligate the City to continue services or maintain improvements provided by the district should the district be terminated. Hillwood Construction Company and Hillwood/Park Glen, Ltd. have agreed to create a back-up homeowners association which would be capable of providing the services and maintaining the improvements should the district be terminated; however, the homeowners association would not be obligated to provide such services and maintenance. (e) Sales disclosure At this time, all of the land within District No. 4 is owned by the Hillwood Construction Company and Hillwood/Park Glen, Ltd. Once the necessary infrastructure is in place, groups of lots will be sold to homebuilders who will in turn sell individual lots to homebuyers. The City will require that a disclosure acknowledging the existence of the district be included in all closing documents associated with the sale of land within the district. A similar disclosure is required in Public Improvement District No. 2. (f) Incorporation by reference of provisions of petition The petition for establishment of the district contains provisions that more fully describe the respective rights and obligations of the City, Hillwood Construction Company and Hillwood/Park Glen, Ltd., and the future owners of land in the district with regard to the district. The provisions of the petition, save and except Exhibit "H" thereof, are hereby incorporated by reference and made a part hereof to the same extent as if fully copied in this Resolution. CITY OF FORT WORTH 1 4 3. The Fort Worth Improvement District No. 4 is authorized to be and is hereby established as a public improvement district under the Public Improvement District Assessment Act, in accordance with the above findings, as to the advisability of the improvements and/or services. The district shall be subject to all of the terms, conditions, limitations, and reservations contained in such findings. 4. The City Secretary is hereby directed to give notice of authorization for establishment of the district by publishing a copy of this Resolution once in, a newspaper of general circulation in the City of Fort Worth. Such authorization shall take effect and the district shall be deemed to be established effective upon the publication of such notice. 5. Actual implementation of services by the district may not begin until after the 20th day after the date the authorization for the district takes effect. 6. The district shall be a complete alternative to other methods by which the City of Fort Worth may finance public improvements and/or special supplemental services by assessing property owners. Adopted the day of MAYOR ATTEST: City Secretary ~~~d c~TV cou~vc~~ MAY 26 1992 erJ ~~~J City Sooretary of the 67it7 of Fort Q6arth, Tsaas • 1:11'Y UP' P'UK'1' WUKTH