HomeMy WebLinkAboutResolution 5099-06-2019 A Resolution
NO. 5099-06-2019
APPROVING AN AMENDED BUDGET AND FIVE YEAR SERVICE PLAN FOR
FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 1
(DOWNTOWN PID)
FOR FISCAL YEAR 2018-2019
WHEREAS, pursuant to Resolution No. 3756-06-2009 the City Council reestablished the Fort
Worth Public Improvement District No. 1 (the "Downtown PID") on June 23, 2009; 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 Downtown PID pursuant to M&C BH-387; and
WHEREAS, pursuant to City Secretary Contract Nos. 51629 and 51946, the City has contracted
with Downtown Fort Worth Inc. ("DFWI") to manage the day-to-day administration of the Downtown
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 DFWI the responsibility for preparing the annual budget and five-year service plan
for the Downtown 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 DFWI 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 Downtown 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 Downtown 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 th day of June 2019.
ATTEST-
By:
Mary J. Kayser, ity S&fifary) 0
FoRTWoRni
EXHIBIT A
FORTWORTH,,, City o1Fort%%%@0
Five rear Service Plan FY 201 i-19-FY 2t122.23 PW'M R ADYUSTME M �'
Ir Pubic Ynprarernent District Nm 1-Fart worth
FY18119 FY12f19 FY19'20 MOM FY2122 FY2223
REVENUES MID YEAR ADJ.
PIDAssessmerRs $2,553.051 $2.553,061 $2,624,222 $2,895.707 $2,749,621 $2.804,613
COFW Assessment 3199,783 $190.783 $203,779 $207.054 32IZ011 $210252
COFW Payment in fieu of Servioes S147,000 S147.0W S149,WG $151048 $155.007 $150.127
PID Generated Revenue 3154.601 S154,6D1 $157.693 $160,847 $164,064 $157.345
Budget Revenues $3,054,454 $3,054,454 $3,135,643 $3,217,355 $3,281,703 $3,347,337
Use of Fund Balance 58,585 58.585
Total Revenues $3,113,039 $3,113,039 $1135,1W $3,217,355 $3,201,703 S3,347,337
EXPENSES
Managemart Fee 315.050 407,800 415,956 424,275 432,761 441.410
water 1115W 11,5m 11.730 11,985 12,204 IZ448
U6Gries 5.000 5AW 5,100 5,202 5.300 5,412
Lards-ping 142,ODD 142,000 104.757 108.852 108,987 111.189
Trash Removal 1,214,250 1.214,250 1IM.5w 1,253,300 1.288.572 1.314,343
Habday LV*13%oo 32,500 32.500 33.150 33.813 34.489 35,170
Securiey 612w 61= 62,515 63,755 65.042 06,341
Ambassador Program 6D0.000 6WAM 612.o91 624,333 636.820 649,556
Carmanicamon skders 8,000 8,000 8,1w 8,323 8.490 8,659
Marketing d Research 441,000 374,500 381,832 389,413 307,201 405,146
Trarsporubon d Plarnirg 2D1,150 180,200 183AD4 2D6,155 210,279 214.485
Insumoe 5,300 - - - -
Arvaal Review 15AM 15,000 t5,30D 15AN 15,018 15,236
City Administrative Fee 61,089 61,089 62,713 64.347 65.834 86.947
Budget Expenses 3,113,039 3,113,039 3,135,i63 %217,305 3�91,703 3,347,337
TOW Ezrenses $3,113,039 $3,113, $$3,135,643 $3,217,355 $3,281,703 $3,347,337
Note.
As a result of changes to the FY 2019 contract between the City of Fort Worth and PID 1 we are
requesting a mid-year adjustment to reflect the changes outlined above. These charges wilt not effect the
bottom one,but represent reallocation of administrative costs to the appropriate management line item.
tf approved by Advisory Board this midyear adjustment will go before City Council in May 2019.
Submitted by Downtown Fort worth,Inc. August 3,2017
���FtORTWORTH
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 6/18/2019 - Resolution No. 5099-06-2019
DATE: Tuesday, June 18, 2019 REFERENCE NO.: **G-19555
LOG NAME: 13FMS PlDlMIDYEARFY19
SUBJECT:
Adopt Resolution Amending the Fiscal Year 2018-2019 Budget and Five-Year Service Plan for Public
Improvement District No. 1 — Downtown and Authorize an Amendment to City Secretary Contract No.
51946, a Management and Improvement Services Agreement for PID 1, to Allocate Existing Expenses of
$92,750.00 to the Management Fee Category (COUNCIL DISTRICT 9)
RECOMMENDATION:
It is recommended that City Council:
1. Adopt the attached resolution approving the revised Fiscal Year 2018-2019 Budget and Five-Year
Service Plan for Public Improvement District No. 1 —Downtown to reflect amendments associated with a
mid-year review; and
2. Authorize an amendment to City Secretary Contract No. 51946, a Management and Improvement
Services Agreement for PID 1, to Increase the Management Fee by $92,750.00.
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 Downtown Fort Worth, Inc. (DFWI) to manage the Downtown PID (CSC Nos.
51629 and 51946). DFWI has identified a mid-year adjustment to reflect changes to the current budget
and 5-Year Service Plan. The changes will not affect the bottom line, but represent a reallocation of
administrative costs to the management fee.
Previously _ Amended
Line Items to ;Approved Recommended FY19
be adjusted FY19 Mid-Year Budget
1Budget Adjustment Item
Management—$315,050.004 $92,750.00 $407,800.00
Fee i
Marketing and $441,000.00 ($66,500.00) $374,500.00
Research �i
Logname: 13FMS PIDIMIDYEARFY19 Page I of 2
Transportation y$201,150.00 I (20,950.00) I$180,200.00
and Planning
Insurance�uJ $5,3 00.00 ($5,300.00) -
Total Budget Fs962,500.001 - $962,500.00
Expense
Staff recommends an increase of$92,750.00 in the management fee line item of the current budget and
5-Year Service Plan, which comes from a reduction of$66,500.00 from the Marketing & Research line
item and $20,950.00 from the Transportation & Planning line item, along with the elimination of the
Insurance line item of$5300. The Management Fee line item includes any and all insurance cost and
administrative cost incurred by the contractor to perform its duties and responsibilities under the contract.
The line items being reduced include expenses that should have been budgeted in the Management Fee
line item. 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
$3,113,039.00. The revised Budget and Five-Year Service Plan will take effect upon approval by City
Council.
Staff recommends that the agreement with DFWI be amended to increase the management fee by
$92,750.00 for a total of$407,800.00, to reflect the changes in the revised budget and service plan.
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 adoption of the
attached resolution, funds will be available in the Fiscal Year 2019 Operating Budget of the Fort Worth
PID No.1 - Downtown Fund
FUND IDENTIFIERS (FIDs):
TO
Fund Department ccoun Project Program ctivity Budget Reference # moun
ID ID Year (Chartfield 2)
FROM
ru��akment 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 PIDIMIDYEARFY19 Page 2 of 2