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Home My WebLink AboutResolution 5100-06-2019 A Resolution NO. 5100-06-2019 APPROVING AN AMENDED BUDGET AND FIVE-YEAR SERVICE PLAN FOR FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 6 (PARK GLEN PID) FOR FISCAL YEAR 2018-2019 WHEREAS, pursuant to Resolution No. 2456, the City Council reestablished the Fort Worth Public Improvement District No. 6 (the "Park Glen PID")on September 29, 1998; and WHEREAS, in accordance with Chapter 372 of the Texas Local Government Code, on August 21, 2018, the City Council approved a budget for the 2018-2019 fiscal year and a five-year service plan for the Park Glen PID pursuant to M&C BH-388; and WHEREAS, pursuant to City Secretary Contract Nos. 51798 and 51978, the City has contracted with FirstService Residential Texas Inc., ("FirstService")to manage the day-to-day administration of the Park Glen PID for the 2018-2019 fiscal year; and WHEREAS, in accordance with Section 372.013(a) of the Texas Local Government Code, the City has assigned to FirstService the responsibility for preparing the annual budget and five-year service plan for the Park Glen PID; and WHEREAS, in accordance with the City's Policy and Guidelines for Public Improvement Districts ("PIDs"), adopted by the City Council pursuant to Resolution No. 4905-02-2018, City staff annually conducts mid-year reviews of all PID budgets to ensure that actual PID expenditures correspond with budgeted expenses; and WHEREAS, in consultation with FirstService regarding actual PID expenditures and necessary programs and services required to date, City staff recommends that the City Council approve an amended budget for the Park Glen PID for the 2018-2019 fiscal year; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS THAT: 1. The Budget and Five Year Service Plan for the Park Glen PID is hereby amended and approved for the remainder of the 2018-2019 fiscal year in accordance with Exhibit "A" which is attached hereto. ORT WORT 2. This Resolution shall take effect immediately following its adoption. Adopted this 18'h day of June 2019. ATTEST:, By: Mary J. Kayser, oWjISe8reWy ®' n . y ORT WORT EXHIBIT A city of Fort Worth Five Year Service Plan Public Improvement District No.6-Fort Worth FYI 8119 FY18/19 FY20/21 FY21/22 FY22/23 REVENUES PIDAssessments $1,575,043 $1,575,043 $1,542,810 $1,542,810 $1,542,810 COFW Payment in lieu of Services 199,556 199,556 199,556 199,556 199,556 Budget Revenues $1,774,599 $1,77099 $1,742,366 $1,742,366 $1,742,366 Use of Fund Balance 137,058 137,058 Total Revenues $1,911,657 $1,911,657 $1,742,366 $1,742,366 $1,742,366 EXPENSES Management Fee 127,924 127,924 127,924 127.924 127,924 Utilities 193,000 193,000 193,000 193,000 193,000 Landscaping 756,172 976,172 695,700 695,700 695,700 Common Area Maintenance 255,160 255,160 200,000 200,000 200,000 Holiday Decoration 19,000 19,000 20,000 20,000 20,000 Security Enhancements 161,000 161,000 161,000 161,000 161,000 Communications 6,909 6,909 6,909 6,909 6,909 Public Events 32,200 32,200 32,200 32,200 32,200 Capital Improvements 295,700 75,700 241,041 241,041 241,041 Insurance 24,000 24,000 24,000 24,000 24,000 Annual Review 5,100 5,100 5,100 5,100 5,100 City Administrative Fee 35,492 35,492 35,492 35,492 35,492 Budget Expenses 1,211,657 1,211,657 1,742,366 1,742,366 1,742,366 Contribution to Fund Balance - - - - - Total Expenses $1,911,657 $1,911,657 $1,742,366 $1,742,366 $1,742,366 $.165 Residential $.035 Commercial L,--r FORTWORTIJ City of Fort Worth, Texas Mayor and Council Communication ------COUNCIL ACTION: Approved on 6/18/2019 - Resolution No. 5100-06-Z019 DATE: Tuesday, June 18, 2019 REFERENCE NO.: **G-19556 LOG NAME: 13FMS PID6MIDYEARFY19 SUBJECT: Adopt Resolution Amending the Fiscal Year 2018-2019 Budget and Five-Year Service Plan for Public Improvement District No. 6 - Park Glen (COUNCIL DISTRICT 4) RECOMMENDATION: It is recommended that the City Council adopt the attached resolution approving the revised Fiscal Year 2018-2019 Budget and Five-Year Service Plan for Public Improvement District No. 6— Park Glen to reflect amendments associated with a mid-year review. DISCUSSION: The City of Fort Worth Department of Financial Management Services administers the City's Public Improvement Districts (PIDs) in accordance with Chapter 372 of the Texas Local Government Code. The City's PID Policy outlines the need to proactively work with the PID managers to oversee the services being provided by the PIDs and their associated financial positions. Staff, along with the contracted PID management companies, have conducted mid-year reviews of the annual budget and will recommend adjustments, as needed. The City contracts with FirstService Residential Texas, Inc. (FirstService) to manage the Park Glen PID. FirstService has identified a mid-year adjustment to reflect changes to the 5 Year Service Plan. The changes will not affect the bottom fine, but represent reallocation of Capital Improvements to landscaping. Line Items to Previously Recommended Amended Li Li adjusted Approved FY19 Mid-Year FY19 Budget Budget Item Adjustment Item Landscaping 1 $756,172.00 $145,000.00 �$976,172.00 Capital $295,700.00 Improvements ($145,000.00) $75,700.00 Total Budget $1,051,872.00 - F$1,051,872.00 Expense Staff recommends an increase of$145,000.00 in the landscaping line item of the Budget and 5-Year Service Plan and a decrease of$145,000.00 to the capital improvements. All other previously approved line items not mentioned above remain the same. Upon approval of the above recommendations, the total budgeted expenses for Fiscal Year 2018-2019 will remain at $1,911,657.00. The revised Budget and Five- Year Service Plan will take effect upon approval by City Council. The City and FirstService will update the Logname: 13FMS PID6MIDYEARFYI9 Page 1 of 2 exiting contract to reflect the mid-year adjustment (CSC. Nos. 51798 and 51978). The Park Glen PID is located in COUNCIL DISTRICT 4. A Form 1295 is not required for this contract because: This M&C does not request approval of a contract with a business entity. FISCAL INFORMATION /CERTIFICATION: The Director of Finance certifies that upon approval of the above recommendations and adoption of the attached resolution, funds will be available in the Fiscal Year 2019 Operating Budget of the Fort Worth PID No.6— Park Glen 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 # moun ID ID Year Chartfield 2 CERTIFICATIONS: Submitted for City Manager's Office by: Susan Alanis (8180) Originating Department Head: Kevin Gunn (2015) Additional Information Contact: Angela Estrada (8511) Logname: 13FMS PID6MIDYEARFYI9 Page 2 of 2 City of Fort Worth Five Year Service Plan Public Improvement District No.6-Fort Worth FY18119 FYi$119 FY20121 FY21122 FY22123 REVENUES PID Assessments $1,575,043 $1,575,043 $1,542,810 $1,542,810 $1,542,810 COFW Payment in lieu of Services 199,556 199,556 199,556 199,556 199,556 Budget Revenues $1,774,599 $1,774,599 $1,742,366 $1,742,366 $1,742,366 Use of Fund Balance 137,058 137,058 - - - Total Revenues $1,911,657 $1,911,657 $1,742,366 $1,7429366 $1,742,366 EXPENSES Management Fee 127,924 127,924 127,924 127,924 127,924 Utilities 193,000 193,000 193,000 193,000 193,000 Landscaping 756,172 976,172 695,700 695,700 695,700 Common Area Maintenance 255,160 255,160 200,000 200,000 200,000 Holiday Decoration 19,000 19,000 20,000 20,000 20,000 Security Enhancements 161,000 161,000 161,000 161,000 161,000 Communications 6,909 6,909 6,909 6,909 6,909 Public Events 32,200 32,200 32,200 32,200 32,200 Capital Improvements 295,700 75,700 241,041 241,041 241,041 Insurance 24,000 24,000 24,000 24,000 24,000 Annual Review 5,100 5,100 51100 5,100 5,100 City Administrative Fee 35,492 35,492 35,492 35,492 35,492 Budget Expenses 1,911,657 1,911,657 1,742,366 1,742,366 1,742,366 Contribution to Fund Balance - - - - - Total Expenses $1,911,657 $1,911,657 $1,742,366 $1,742,366 $1,742,366 $.165 Residential $.035 Commercial