HomeMy WebLinkAboutOrdinance 7891 ORDINANCE NO.
AN ORDINANCE APPROPRIATING REVENUE OF THE
CITY OF FORT WORTH IN THE SUM OF $1,072,500.00
FROM THE GENERAL FUND FUND BALANCE TO FINANCE
THE PURCHASE OF THE LAND AND MOTOR VEHICLE
PARKING STRUCTURE LOCATED THEREON KNOWN AS
LOTS 4, 5, AND THE NORTH 10 FEET OF LOT 6,
BLOCK 2, HIRSCHFIELD ADDITION; PROVIDING A
SEVERABILITY CLAUSE; MAKING THIS ORDINANCE
CUMULATIVE OF PRIOR ORDINANCES; REPEALING
ORDINANCES IN CONFLICT HEREWITH, AND APPROVING
AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS:
SECTION 1.
That the City Manager of the City of Fort Worth shall be
provided with such revenue as may be secured from various sources
included in Ordinance No. 7787 and in the Budget of the City
Manager; and in addition thereto there is appropriated $1,072,500.00
from the General Fund Fund Balance to finance the purchase of the
land and motor vehicle parking structure located thereon known as
Lots 4, 5, and the north 10' of Lot 6, Block 2,Hirshfield Addition.
SECTION 2.
Should any part, portion, section or part of a section of
this ordinance be declared invalid or inoperative or void for any
reason by a court of competent jurisdiction, such decision, opinion
or judgment shall in no way affect the remaining portions, parts,
sections or parts of sections of this ordinance, which provisions
shall be, remain and continue to be in full force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance
No. 7787, but all other ordinances and appropriations for which
provision has been heretofore made are hereby expressly repealed
if in conflict with the provisions of this ordinance.
r
SECTION 4.
That this ordinance shall take effect and be in full force
and effect from and after the date of its passage, and it is
so ordained.
APPROVED AS TO FORM AND LEGALITY:
City Attcfney
ADOPTED: M w,2,a r► 4:2 i� 51
EFFECTIVE:
Substitute Recommendation of March 6th, 1979, to
accompany M&C L-6016 concerning Municipal Vehicle Parking
dated February 27, 1979:
RECOMMENDATION:
To avoid any legal questions concerning the assumption
of an indebtedness, it is recommended that:
1. The City Manager be authorized to execute a contract
to purchase the parking garage building located at loth and
Taylor Streets for $675, 000. 00;
2. The City Manager be authorized to execute a contract
to purchase Lots 4 , 5, and the north 10' of Lot 6, Block 2,
Hirshf ield Addition for $ � I-,- S'aa,ap
3. The Attached Ordinance appropriating $ 0
from the General Fund Fund Balance be adopted to finance
the purchase of the land and motor vehicle parking structure
located thereon known as Lots 4 , 5 and the north 10 ' of Lot 6,
Block 2, Hirshfield Addition; and
4. The steps necessary under Art. 5421c-12 R.C.S. and
the City Charter to advertise and sell the City owned tracts
and parcels of land identified below be undertaken as soon as
feasible:
a. Lots 6-8 and 23-25, Block 5, Jennings
East Addition.
b. Lots 1, 2 and 4, Block 86 , City Addition.
c. Lot 8 and a portion of Lot 6, Block 2,
Sanders Addition.
FINANCIAL ANALYSIS
Initial Costs
Cost of Building $ 675,000
Cost of Land (estimated) 386,000
Total Cost $1,061,000
Less: Existing Mortgage 315,768
Cost Required $ 745,232
Estimated Proceeds from
Land Sales $ 575,000
Advance from Capital Reserve * 170,232
Cash Available $ 745,232
* Total of $745,232 would be advanced until land was actually sold,
Annual Costs/Revenues
Expenditures
Mortgage (8 years) $ 49,000
Maintenance 5,000
Janitorial 6,000
Utilities 15,000
Insurance 1,000
Total $ 76,000
Revenues
Space Rental - Parking $ 42,240
Space Rental - Office 31,564
Parking Meter Rental
(78 x $3 x 264 days) 61,776
Loss of Tax Revenue (10,403)
Total $ 125,177
Additional cash available annually to repay advance and/or pay
ground rental of $22,500 per year would be approximateiy $49,000,
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dSANTERRE
• City of Fort Worth, Texas
BAILIFF Mayor and Co Council Communication
BMITH elm
NILKE'-n DATE REFERENUMBENCE SUBJECT: Municipal Vehicle Parking PAGE
2/27/79 1 of 3
sEEu L-6016
Background
A 1975 study of on-street parking and curb usage in the City's central business
district revealed that during the various hours of a typical weekday, anywhere
from 11 to 18 per cent of the total available metered space in the vicinity of
the Municipal Building was occupied by City vehicles.
A survey recently completed by Transportation Department staff indicates that
City use of metered parking space has increased since the 1975 study, and it
is estimated that an average of 51 metered spaces near the City Hall is occupied
by City vehicles at any given time. There are at least two undesirable effects
of such use. Public access to metered space for conducting business at the
south end of downtown is severely limited, and no revenue is derived from park-
ing spaces taken up by City vehicles.
The City of Fort Worth has three parking lots in the vicinity of City Hall (see
attachment #1) which contain the following number of spaces:
No. of Spaces
City Employees/Citizen-Lot #1 69
Motor Pool Lot #2 59
Lot #3 (Leased to the Police Association
for $1 per year) 27
Total 155
In addition, there are 28 curb spaces on the streets reserved for City vehicles.
The number of City vehicles operating out of City Hall, including private
vehicles with authorized on-street spaces and/or special stickers authorizing
free parking at meters, but excluding Police and Court vehicles, totals 206.
The parking lot provided for citizens conducting business in the Municipal
Building contains 26 spaces and averages approximately 110 vehicles in and out
each day. On days when there is a meeting of the City Council, Zoning Commis-
sion, Plan Commission, Board of Adjustment, etc., the number of spaces is
grossly inadequate. The most appropriate space for expansion of citizen park-
ing would be Lot #1 presently utilized by the City Council, their staff members,
and other City employees.
Effective July 21, 1977, the Environmental Protection Agency recommended that the
City provide parking spaces for high occupancy carpool vehicles as an incentive
to encourage carpooling, but to date we have been able to comply with this
suggestion in only a token manner. On January 1, 1979, the regional office of
EPA began a review of the City's program to encourage carpooling. With the
current developments in energy supply, the City will be acting wisely by attempt-
ing to further encourage carpooling.
DATE REFERENCE SUBJECT: Municipal Vehicle Parking PAGE
NUMBER
2/27/79 L-6016
Proposed Parking Alternative
The construction of a parking facility in conjunction with a new public safety
building would have provided a solution to this problem, but location of the
facility at the other end of town necessitates another approach. Recently,
the staff was informed that the public parking garage located at loth and
Taylor Streets was available for purchase, and a cost and use analysis was
initiated to determine feasibility and desirability of the City purchasing the
parking garage as a method of alleviating the traffic problems around City
Hall.
The property, which is owned by two trusts, is known as Lots 4, 5, and the
north 10' of Lot 6, Block 2, Hirshfield Addition, Located on the property is
a building owned by the Fort Worth National Bank which includes a 338-space
parking garage and approximately 12,845 square feet of office space. There
is a mortgage of $315,768 on the building payable at $4,084 per month until
April 1, 1987, including 6 per cent interest. The building is structurally
sound and would require no expensive renovation or refurbishing to be utilized
by the City,
The 338 parking spaces are leased on a monthly basis for $30 per month for a
covered space and $20 per month for a roof space. There is no hourly_ or day
parking.
The General Services Administration currently leases 4,331 square feet of the
building's office space under a contract that extends through September 1, 1981,
and Freese and Nichols leases 830 square feet on a month-to-month basis. The
remaining 7,864 square feet of lease space is vacant at present.
The City has an option through March 6, 1979, to purchase the building for
$675,000 with the ground lease of $22,500 per year to be adjusted each ten years
based on appraised value until expiration in 2063 It is estimated that the
land can be purchased for $336,000 which would make a total cost of $1,061,000.
The 100 per cent t<1.. value of the bull(lin^ and land is ;%1,154,058. The staff
consilers purchase of this facility to be an economically feasible response to
the sug;;estlons of EPA and the problems caused by City vehicles taking up
spaces needed by citizens and hindering the traffic flow around the Municipal
Building, If the parking facility is purchased, it is recommended that all
City vehicles, executive employees, and Mayor/Council parking be moved to the
new facility; and the citizens' lot be expanded to include those spaces presently
in the employees' lot, Such use of the building by the City would allow the
number of spaces available to the public in the citizens' lot to be increased
by 43 to a total of 69 spaces. The additional space would make City services
more accessible and citizen participation in governmental activities more
convenient
Financial Feasibility
The financial analysis in Attachment #2 is based on selling parking Lots #2
and #3 for an estimated $225,000 and the three-fourths block north of the
SURTRAN terminal, originally purchased for the TACV project, for an estimated
$350,000. (Parking Lot #3 could not be sold until the Police Department
F
DATE REFERENCE SUBJECT: Municipal Vehicle Parking PAGE
NUMBER
2/27/79 L-6016 3 °f 3
is moved.) The analysis shoats that if this building is purchased there should
be sufficient revenue from leasing spaces not needed for City parking, leasing
office space, and additional funds from parking meters to offset operating
expenses and produce $49,177 annually of additional cash.
These financial results would be impacted if the City chose to use this facility
to meet the EPA suggested requirements for carpool incentives described above,
but we may be forced to meet this mandate in some more expensive manner whether
we purchase this building or not.
Funds may be advanced from the Capital Reserve Account to provide the initial
cash requirement for this purchase. These funds would be repaid in subsequent
budget appropriations from the revenues generated as necessary to service the
mortgage and repay the Capital Reserve Account.
Recommendation
It is recommended that the City Manager be authorized to:
1 Execute a contract to purchase the parking garage building
at loth and Taylor Streets for $675,000;
2. Execute a contract to purchase Lots 4, 5, and the north 10'
of Lot 6, Block 2, Hirshfield Addition, for $386,000;
3. Sell City-owned property known as Lots 6, 7, 8, 23, 24, 25,
Block 5, Jennings Addition; and Lots 1, 2, 4, Block 86, City
Addition; and upon completion of the new Public Safety Build-
ing sell Lot 8, and a portion of Lot 6, Block 2, Sanders
Addition with all proceeds applied to the purchase of land
and building at Lot 4, 5, and North 10' of Lot 6, Hirshfield
Addition.
RLH_:ms
Attachment
SUBMITTED BY: DISPOSITIO BY COUNCIL: PROCESSED BY
APPROVED ['OTHER (DESCRIBE) L
r_� C SECRETARY
��� el'�I�PrE� ��o_�s.,�,Au�r ►.�.-� _ �l c�� 1 �DATE
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