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Home My WebLink AboutOrdinance 23788-08-2019 Ordinance No.23788-08-2019 AN ORDINANCE(1)INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE FISCAL YEAR 2019-2020 FORT WORTH PUBLIC IMPROVEMENT DISTRICT 15 — SUN VALLEY FUND IN THE AMOUNT OF $102,122.00, FROM AVAILABLE FUNDS, AND(2)INCREASING APPROPRIATIONS IN THAT FUND IN THE AMOUNT OF$2,078.00 AND REDUCING FUND BALANCE BY THE SAME AMOUNT, CONTINGENT UPON THE ADOPTION OF THE ORDINANCE LEVYING SPECIAL ASSESSMENTS FOR THE 2019 TAX YEAR, FOR THE PURPOSE OF PROVIDING IMPROVEMENTS AND SERVICES FOR THE PUBLIC IMPROVEMENT DISTRICT 15—SUN VALLEY DURING FISCAL YEAR 2019-2020; 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 2019-2020 in the Budget of the City Manager, there shall also be (1) increased estimated receipts and appropriations in the Fiscal Year 2019-2020 Fort Worth Public Improvement District 15—Sun Valley Fund("Fund") in the amount of$102,122.00,from available funds, and(2)increased appropriations in the Fund in the amount of$2,078.00 and reducing fund balance by the same amount,contingent upon the adoption of the ordinance levying special assessments for the 2019 Tax Year, for the purpose of providing improvements and services for Public Improvement District 15—Sun Valley during Fiscal Year 2019-2020. 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, 2019, and ending September 30, 2020, 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. 1 APPROVED AS TO FARM AND LEGA TY: CI S RETARY Tyler F.Wa ch,Assistant City Attorney a J. Kayser ADOPTED AND EFFECTIVE:August 27, 2019 .,TEXPS FORT WORTH Sun Valley Public Improvement District •+y f a f f, _ lI t N. 1 � I l/r lrt� /A.�r��I,'.r p, w,l `�~i,,.i. r _7--f* �. M,. r .�,A, ► r :S�fr L=N L'l YStSt*.s �i S� A+4-,ti rl•' .. r F� _16 57P"VKLAqND-PkL 87 '. . ..jLSST R r- {rash r' i F SUN 'VALL'Y �- �'kI1LLOVV �f y. }V KALTENBRUN f LIFESTYLE LLl MOSSON ij Ft {1 yk/'�.�'`I�� i'S EZ Irk 0 { 'T rrt*,+ � 'fit-f� .'fi. "3i , ► LEGEND PID 15 - SUN VALLEY rt i , 0 0.075 0.15 0.3 Miles s ! � I + + + I + + 1 f. n — ' r r r 2014 n:Au us t 19 r r- 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 Five Year Service Plan Public Improvement District No.15-Fort Worth FY19120 FY19120 FY20/21 FY21/22 FY22/23 REVENUES PID Assessments $102,122 $104,245 $107,372 $110,593 $113,911 Budget Revenues $102,122 $104,245 $107,372 $110,593 $113,911 Use of Fund Balance $2,078 Total Revenues $104,200 $104,245 $107,372 $110,593 $113,911 EXPENSES Management Fee 12,000 12,000 12,000 12,000 12,000 Security Enhancements 73,000 73,000 73,000 73,000 73,000 Equipment Rental 8,500 8,500 8,500 8,500 8,500 Truck Maintenance 4,000 4,000 4,000 4,000 4,000 Insurance 600 600 600 600 600 Professional Services 3,600 3,600 3,600 3,600 3,600 Website/software 500 500 500 500 600 Printing 0 250 250 250 250 City Administrative Fee 2,000 2,000 2,000 2,000 2,000 Budget Expenses 104,200 104,450 104,450 104,450 104,550 Contribution to Fund Balance - - - - - Total Expenses $104,200 $104,450 $104,450 $104,450 $104,550 rate of$.24 per$100 of assessed value 3% City of Fort Worth, Texas Mayor and Council Communication DATE: 08/27/19 M&C FILE NUMBER: M&C 19-0109 LOG NAME: 13FMS PID15FY20 SUBJECT Conduct Public Benefit Hearing for Public Improvement District 15-Sun Valley,Approve Fiscal Year 2019-2020 Budget in the Amount of $104,200.00 and Five-Year Service Plan,Approve Tax Year 2019 Assessment Roll,Adopt Ordinance Levying Special Assessments for the 2019 Tax Year at a Rate of$0.24 Per Each$100 of Property Value,Authorize Execution of an Agreement with Orasi Development,LLC,in the Amount of$12,000.00 to Manage the District,and Adopt Appropriation Ordinance(COUNCIL DISTRICT 5)(PUBLIC HEARING-a.Report of City Staff.Angela Estrada;b.Citizen Presentations;c. Council Action: Close Public Hearing and Approve the M&C) 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 15-Sun Valley for the 2019 tax year; 2.Approve the attached Fiscal Year 2019-2020 Budget in the amount of$104,200.00 and Five-Year Service Plan for Public Improvement District 15-Sun Valley; 3.Approve the Tax Year 2019 Assessment Roll for Public Improvement District 15-Sun Valley,on file with the City Secretary; 4.Adopt the attached ordinance levying special assessments on the property located in Public Improvement District 15-Sun Valley for the 2019 tax year at a rate of$0.24 per each$100.00 of property value; 5.Adopt the attached ordinance(1)increasing estimated receipts and appropriations in the Fort Worth Public Improvement District 15—Sun Valley Fund("Fund")in the amount of$102,122.00,from available funds,and(2)increasing appropriations in the Fund in the amount of$2,078.00 and reducing the fund balance by the same amount;and 6.Authorize the execution of an Agreement with Orasi Development, LLC, in the amount of$12,000.00 to provide management of the improvements and services for Public Improvement District 15-Sun Valley during Fiscal Year 2019-2020. DISCUSSION: On August 21,2012,the City Council adopted Resolution No.4120-08-2012 establishing Fort Worth Public Improvement District 15-Sun Valley (Sun Valley PID). The purpose of this benefit hearing is to receive comments from the public regarding the 2019-2020 Fiscal Year Budget and Five-Year Service Plan for the Sun Valley PID and the proposed assessments to be levied on each property in the Sun Valley PID for the 2019 tax year.Following the public hearing,it is recommended that the City Council take the following actions: (a)approve the attached Budget and Five-Year Service Plan;(b) approve the 2019 Assessment Roll;and(c)adopt the attached ordinances levying the proposed assessments and appropriating funds. The improvements and services to be provided in the Sun Valley PID and the costs thereof are as follows: Improvements Total Budgeted Costs Management Fee $12,000.00 Security Enhancements$73,000.00 Equipment Rental $8,500.00 Truck Maintenance $4,000.00 Insurance $600.00 Professional Services $3,600.00 Website $500.00 Printing $0.00 City Administration Fee$2,000.00 Total Expenses $104,200.00 The total budgeted costs of the improvements and services are in the amount of$104,200.00.Of this amount,$102,122.00 will be funded by assessments collected on privately owned parcels located in the Sun Valley PID by applying a rate of$0.24 per each$100.00 of property value. The remaining$2,078.00 will be funded by a transfer from the unaudited,unassigned fund balance. For Fiscal Year 2019(tax year 2018)City Council levied an assessment rate of$0.26 per each$100.00 of property value.The Sun Valley PID experienced growth in net taxable value equal to 17.5%,or$5,713,321.00,allowing for the assessment rate to be reduced by$0.02.Thus,the recommended Fiscal Year 2020(tax year 2019)assessment rate is$0.24 per each$100.00 of property value.Even with the lower assessment rate, revenue growth year over year is$9,681.00 or 10%. On August 20,2019,the City Council conducted a public hearing to receive comments on the proposed 2019-2020 Fiscal Year Budget, Five-Year Service Plan,and 2019 Assessments for the Sun Valley PID(M&C BH). Notice of the August 20,2019 benefit hearing and this hearing were published in the Fort Worth Star-Telegram on August 8,2019 and mailed to all record owners of property in the Sun Valley PID on August 7,2019, in accordance with state law. The Sun Valley PID is located in COUNCIL DISTRICT 5. FISCAL INFORMATION/CERTIFICATION: The Director of Finance certifies that upon approval of the above recommendations and the adoption of the Fiscal Year 2019-2020 Budget by the City Council,funds will be available in the Fiscal Year 2020 operating budget,as appropriated,of the Fort Worth Public Improvement District 15- Sun Valley Fund. Submitted for City Manager's Office by: Kevin Gunn 8180 Originating Business Unit Head: Reginald Zeno 8500 Additional Information Contact: Angela Estrada 8511