HomeMy WebLinkAboutResolution 5217-05-2020 A Resolution
NO. 5217-05-2020
APPROVING AN AMENDED BUDGET AND FIVE-YEAR
SERVICE PLAN FOR FORT WORTH PUBLIC IMPROVEMENT
DISTRICT NO. 6 (PARK GLEN PID)
FOR FISCAL YEAR 2019-2020
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;
WHEREAS, in accordance with Chapter 372 of the Texas Local Government
Code, on August 27, 2019, the City Council approved a budget for the 2019-2020 fiscal
year and a five-year service plan for the Park Glen PID pursuant to M&C 19-0099;
WHEREAS, pursuant to City Secretary Contract No. 52906, the City has
contracted with FirstService Residential Texas PID, LLC, ("FirstService") to manage the
day-to-day administration of the Park Glen PID for the 2019-2020 fiscal year;
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;
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 2019-2020 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 2019-2020 fiscal year in accordance with
Exhibit"A", which is attached hereto.
2 This Resolution shall take effect immediately following its adoption.
Adopted this 5th day of May 2020.
O� FART
ATTEST: ��•' :�
0
By:
Mary J. K er . ity Secretary
�XAS.
EXHIBIT A
City of Fort Worth
Five Year Service Plan
Public Improvement District No. 6-Fort Worth
Mid-Year Revision
FY19120 FY20121 FY21122 FY22123 FY23124
REVENUES
PID Assessments $1,606,226 $1,606,226 $1,606,226 $1,606,226 $1,606,226
COFW Payment in lieu of Services 199,556 199,556 199,556 199,556 199,556
Budget Revenues $1,805,782 $1,805,782 $1,805,782 $1,805,782 $1,805,782
Use of Fund Balance 419,000
Total Revenues $2,224,782 $1,805,782 $1,805,782 $1,805,782 $1,805,782
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 784,500 722,987 722,987 722,987 722,987
Common Area Maintenance 512,023 200,000 200,000 200,000 200,000
Holiday Decoration 22,832 22,832 22,832 22,832 22,832
Security Enhancements 183,985 183,985 183,985 183,985 183,985
Communications 22,500 6,909 6,909 6,909 6,909
Public Ewnts 32,300 32,300 32,300 32,300 32,300
Capitallmprowments 261,000 240,447 240,447 240,447 240,447
Insurance 36,502 34,182 34,182 34,182 34,182
Annual Reuew 12,100 5,100 5,100 5,100 5,100
City Administratiw Fee 36,116 36,116 36,116 36,116 36,116
Budget Expenses 2,224,782 1,805,782 1,805,782 1,805,782 1,805,782
Contribution to Fund Balance - - - - -
Total Expenses $2,224,782 $1,805,782 $1,805,782 $1,805,782 $1,805,782
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City of Fort Worth
Five Year Service Plan
Public Improvement District No.6-Fort Worth
Mid-Year Revision
FY19/20 FY20/21 FY21/22 FY22/23 FY23/24
REVENUES
PID Assessments $1,606,226 $1,606,226 $1,606,226 $1,606,226 $1,606,226
COFW Payment in lieu of Services 199,556 199,556 199,556 199,556 199,556
Budget Revenues $1,805,782 $1,805,782 $1,805,782 $1,805,782 $1,805,782
Use of Fund Balance 419,000
Total Revenues $2,224,782 $1,805,782 $1,805,782 $1,805,782 $1,805,782
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 784,500 722,987 722,987 722,987 722,987
Common Area Maintenance 512,023 200,000 200,000 200,000 200,000
Holiday Decoration 22,832 22,832 22,832 22,832 22,832
Security Enhancements 183,985 183,985 183,985 183,985 183,985
Communications 22,500 6,909 6,909 6,909 6,909
Public Events 32,300 32,300 32,300 32,300 32,300
Capital Improvements 261,000 240,447 240,447 240,447 240,447
Insurance 36,502 34,182 34,182 34,182 34,182
Annual Review 12,100 5,100 5,100 5,100 5,100
City Administrative Fee 36,116 36,116 36,116 36,116 36,116
Budget Expenses 2,224,782 1,805,782 1,805,782 1,805,782 1,805,782
Contribution to Fund Balance - - - - -
Total Expenses $2,224,782 $1,805,782 $1,805,782 $1,805,782 $1,805,782
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 05/05/20 M&C FILE NUMBER: M&C 20-0277
LOG NAME: 13PID6 MIDYEARFY20
SUBJECT
Adopt Resolution Amending the Fiscal Year 2019-2020 Budget and Five-Year Service Plan for Public Improvement District 6-Park Glen
(COUNCIL DISTRICT 4)
RECOMMENDATION:
It is recommended that the City Council adopt the attached resolution approving the revised Fiscal Year 2019-2020 Budget and Five-Year Service
Plan for Public Improvement District 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 Public Improvement District 6-Park Glen(Park Glen PID)Annual Budget(Budget)and
recommend the following adjustments.
The City contracts with FirstService Residential Texas PID, LLC (FirstService)to manage the Park Glen PID. FirstService has identified a mid-
year adjustment to reflect changes to the Five-Year Service Plan.The changes will not affect the bottom line,but represent reallocation of
Landscaping to Capital Improvements,Communications, Insurance and Annual Review.
Line Items to Previously Recommended Amended
be Adjusted Approved FY20 Mid-Year FY20 Budget
Budget Item Adjustment Item
Landscaping $829,520.00 ($45,020.00) $784,500.00
Capital $241,000.00 $20,000.00 $261,000.00
Improvements
Communications $6,800.00 $15,700.00 $22,500.00
Insurance $34,182.00 $2,320.00 $36,502.00
Annual Review $5,100.00 $7,000.00 $12,100.00
Totals $1,116,602.00 - 1,116,602.00
Staff supports FirstService's recommended mid-year budget adjustments.All other previously approved line items not mentioned above remain
the same.Upon approval of the above recommendation,the total budgeted expenses for Fiscal Year 2019-2020 will remain at$2,224,782.00.The
revised Budget and Five-Year Service Plan will take effect upon approval by City Council. The City and FirstService will update the exiting contract
to reflect the mid-year adjustment(City Secretary Contract No.52906).
The Park Glen PID is located in COUNCIL DISTRICT 4.
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 approval of this recommendation will have no material effect on City funds.
Submitted for City Manager's Office by: Kevin Gunn 2015
Originating Business Unit Head: Reginald Zeno 8517
Additional Information Contact: Anthony Rousseau 8338