HomeMy WebLinkAboutOrdinance 23887-10-2019 Ordinance No.23887-10-2019
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN
THE TAX INCREMENT FUNDS IN THE AMOUNT OF$87,518,746.00, FROM AVAILABLE
FUNDS, FOR THE PURPOSE OF ESTABLISHING APPROPRIATIONS IN THOSE
FUNDS; 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 2020 in the Budget
of the City Manager, there shall also be increased estimated receipts and appropriations in the Tax Increment
Funds in a cumulative amount of $87,518,746.00, from available funds, for the purpose of establishing
appropriations in those Funds, with such appropriation allocated to the various funds as follows:
Fund Appropriation
TIF Fund - Zone No. 2A - Texas Motor Speedway (28721) $2,145,985.00
TIF Fund - Zone No. 2B - Texas Motor Speedway (28722) $2,190,086.00
TIF Fund - Zone No. 3 - Downtown (28603) $13,268,830.00
TIF Fund - Zone No. 3A - Downtown (28730) $5,357,759.00
TIF Fund - Zone No. 4 - Southside Medical District (28604) $16,574,868.00
TIF Fund - Zone No. 6 - Riverfront (28606) $185,042.00
TIF Fund - Zone No. 7 - North Tarrant Pkwy (28607) $8,363,932.00
TIF Fund - Zone No. 7A - North Tarrant Pkwy (28770) $283,226.00
TIF Fund - Zone No. 8 - Lancaster (28608) $17,117,812.00
TIF Fund - Zone No. 9 - Trinity River Vision (28609) $5,317,216.00
TIF Fund - Zone No. 9A - Trinity River Vision (28790) $80,074.00
TIF Fund - Zone No. 10 - Lone Star (28610) $949,056.00
TIF Fund - Zone No. 10A - Lone Star (28710) $124,436.00
TIF Fund - Zone No. 12 - East Berry Renaissance (28612) $2,228,495.00
TIF Fund - Zone No. 13 - Woodhaven (28613) $7,371,573.00
TIF Fund - Zone No. 14 - Trinity Lakes (28614) $5,264,195.00
TIF Fund - Zone No. 15 - Stockyards/Northside (28615) $696,161.00
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 orjudgment 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.
APPRO V ED AS T O FORM AND LEGALITY: CITY SECRETARY
Assistant City Attorney Mary J. Ka
ADOPTED AND EFFECTIVE: October 15, 2019 FORT
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City of Fort Worth, Texas
Mayor and Council Communication
DATE: 10/15/19 M&C FILE NUMBER: M&C 19-0252
LOG NAME: 17TIF ALLOCATION FY20
SUBJECT
Adopt Supplemental Appropriation Ordinance Increasing Estimated Receipts and Appropriations in the Various Tax Increment Funds in the Total
Amount of$87,518,746.00 for Fiscal Year 2020(ALL COUNCIL DISTRICTS)
RECOMMENDATION:
It is recommended that the City Council adopt the attached supplemental appropriation ordinance increasing estimated receipts and
appropriations in the various Tax Increment Funds in the total amount of$87,518,746.00 for Fiscal Year 2020.
DISCUSSION:
The purpose of this Mayor and Council Communication is to establish the Fiscal Year 2020 appropriations in the various Tax Increment Funds in
the amount of$87,518,746.00.
The City of Fort Worth's Fiscal Year 2020 Appropriation Ordinance adopting the City's Fiscal Year 2020 operating and capital budget does not
include appropriations for the Tax Increment Funds,which are adopted under a separate process.
Tax Increment Funds are used to manage funds that have been designated by the City and other taxing entities participating in each of the City's
Tax Increment Reinvestment Zones(TIFs),in accordance with the Tax Increment Financing Act,Chapter 311 Texas Tax Code. The TIF funds are
used for economic development and redevelopment projects within the boundaries of each of theTIFs in accordance with each TIF's project and
financing plan and the Tax Increment Financing Act,which authorizes the City to maintain the funds.
This M&C appropriates all available fund balance plus anticipated revenue in Fiscal Year 2020 to be administered by the respective TIF Boards in
compliance with their Council approved TIF Project and Financing Plans.
The funding allocation per TIF is outlined in the following table:
Fund Appropriation
TIF Fund—Zone No.2A-Texas Motor Speedway
$2,145,985.00
(28721)
TIF Fund—Zone No.2B-Texas Motor Speedway
$2,190,086.00
(28722)
TIF Fund—Zone No.3—Downtown(28603) $13,268,830.00
TIF Fund—Zone No.3A—Downtown(28730) $5,357,759.00
TIF Fund—Zone No.4-Southside Medical District $16,574,868.00
(28604)
TIF Fund—Zone No.6—Riverfront(28606) $185,042.00
TIF Fund—Zone No.7-North Tarrant Pkwy(28607) $8,363,932.00
TIF Fund—Zone No.7A-North Tarrant Pkwy(28770) $283,226.00
TIF Fund—Zone No.8—Lancaster(28608) $17,117,812.00
TIF Fund—Zone No.9-Trinity River Vision(28609) $5,317,216.00
TIF Fund—Zone No.9A-Trinity River Vision(28790) $80,074.00
TIF Fund—Zone No. 10-Lone Star(28610) $949,056.00
TIF Fund—Zone No. 10A-Lone Star(28710) $124,436.00
TIF Fund—Zone No. 12-East Berry Renaissance
(28612) $2,228,495.00
TIF Fund—Zone No. 13—Woodhaven(28613) $7,371,573.00
TIF Fund—Zone No. 14-Trinity Lakes(28614) $5,264,195.00
TIF Fund—Zone No. 15-Stockyards/Northside(28615) $696,161.00
A Form 1295 is not required 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 adoption of the above recommendation and the supplemental appropriation ordinance,funds will be
available in the Fiscal Year 2020 operating budget,as appropriated,to the TIF Funds.
Submitted for City Manager's Office by: Jay Chapa 5804
Originating Business Unit Head: Robert Sturns 2663
Additional Information Contact: Robert Sturns 2663