HomeMy WebLinkAboutOrdinance 17753-09-2007Ordinance No. 17753-09-2007
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN
THE SPECIAL ASSESSMENT DISTRICT FUND IN THE AMOUNT OF $54,350 FROM
AVAILABLE FUNDS FOR THE PURPOSE OF FUNDING IMPROVEMENTS AND
SERVICES IN PUBLIC IMPROVEMENT DISTRICT NO. 11 (STOCKYARDS); MAKING
THIS ORDINANCE CUMULATIVE OF PRIOR 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 2007-2008 in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the
Special Assessment District Fund in the amount of $54,350 from available funds for the purpose of funding
improvements and services in Public Improvement District No. 11 (Stockyards).
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, 2007, and ending
September 30, 2008, 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hereby expressly repealed.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.
APP VEDAS TO FORM AND LEGALITY:
Assistant City Attorne
ADOPTED AND EFFECTIVE: September 11, 2007
City of Fort Worth
FIVE YEAR SERVICE PLAN
Public Improvement District No. 11 -Stockyards
REVENUES
Assessment Revenues
Prior Year Assessments
Total Revenues
EXPENSES
Operations
Insurance
Marketing / Website
Public Events
Trash Removal
City Administration
Total Expenses
BALANCE
FY07/08 FY08/09 FY09/10 FY10/11 FY11/12
$ 46,979 $ 46,979 $46,979 $ 46,979 $46,979
37,226 29,855 22,484 15,113 7,742
84,205 76,834 69,463 62,092 54,721
6, 000 6, 000 6, 000 6, 000 6, 000
350 350 350 350 350
40,000 40,000 40,000 40,000 40,000
3,000 3,000 3,000 3,000 3,000
3,000 3,000 3,000 3,000 3,000
2,000 2,000 2,000 2,000 2,000
54,350 54,350 54,350 54,350 54,350
$ 29,855 $ 22,484 $15,113 $ 7,742 $ 371
C-ty ®f ~®rt ooh, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 9/11/2007 -Ord. No. 17752-09-2007 & 17753-09-2007
DATE: Tuesday, September 11, 2007
LOG NAME: 13PID11 BEN07-08 REFERENCE NO.: BH-229
SUBJECT:
Benefit Hearing for Fort Worth Public Improvement District 11 (Stockyards) Concerning Proposed
Property Assessments; Adoption of Ordinance Levying Assessments for Fiscal Year 2007-08 and
Adoption of Appropriation Ordinance Allocating Estimated Receipts to the District
RECOMMENDATION:
It is recommended that the City Council:
1. Hold a benefit hearing concerning the proposed property assessments for Fort Worth Public
Improvement District 11 (PID 11) for Fiscal Year 2007-08;
2. Adopt the attached ordinance which levies the proposed assessments for PID 11 for Fiscal Year 2007-
08; and
3. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations by
$54,350.00 in the Special Assessment District Fund PID 11 Project account from available funds.
DISCUSSION:
The purpose of this benefit hearing is to receive comments from the public regarding the Fiscal Year 2007-
08 proposed assessments to be levied on each property in Fort Worth PID 11, to adopt an ordinance
levying the proposed assessments and to adopt an appropriation ordinance allocating estimated receipts
to the District.
On August 21, 2007, (M&C G-15841) the City Council approved the Fiscal Year 2007-08 budget and five-
year service plan (attached), directed that certain improvements and/or services be provided in PID 11
during the Fiscal Year 2007-08, adopted the proposed 2007 assessment roll and provided notice of this
benefit hearing.
Based upon the five year service plan budget the current and projected revenues will fund the following:
Improvements
1) Marketing/Website
2) Public Events
3) Street and Sidewalk Cleanliness
4) Operations
5) Insurance
6) City Administration
Total Expenditures
Total Budgeted Costs
$40, 000.00
$3,000.00
$3, 000.00
$6,000.00
$350.00
2 000.00
$54,350.00
Logname: 13PID11BEN07-08 Page 1 of 2
The total budgeted costs of the improvements and services are $54,350.00. Of this amount, $46,979.00
will be funded by assessments collected on privately owned parcels located in the district by applying a
rate of $0.10 cents to each $100.00 of the value of such property. (Note: Assessment rate is the same as
last year.) The remainder of the casts, $7,371.00 will be funded by prior year assessments carried forward
to fiscal year 2007-2008. (Note: The remaining estimated fund balance of $29,855.00 is planned for future
projects such as signage and website marketing management).
Based on the appraised value of the property and considering the benefits to be received from the
proposed improvements, it is the opinion of the City staff that an amount equal to or more than the
proposed assessments, upon completion of the improvements in accordance with the contract, will
enhance each parcel of property in value.
PID 11 is commonly known as the "Stockyards" PID and is located in COUNCIL DISTRICT 2. A map and
budget are attached.
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that upon adoption of the attached ordinances, funds required for this
expenditure will be available in the Fiscal Year 2007-08 operating budget, as appropriated, of the Special
Assessment District Fund.
TO Fund/Account/Centers FROM Fund/Account/Centers
GS87 488342 002511003000 $54,350.00
GS87 539120 002511003000 $54,350.00
Submitted for City Manager's Office b~ Karen Montgomery (6222)
Originating Department Head: Lena Ellis (8517)
Additional Information Contact: Becky Wood (8550)
Logname: 13PIDl IBEN07-08 Page 2 of 2