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HomeMy WebLinkAboutOrdinance 24357-08-2020 Ordinance No. 24357-08-2020 AN ORDINANCE(1)INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE FISCAL YEAR 2020-2021 FORT WORTH PUBLIC IMPROVEMENT DISTRICT 1 — DOWNTOWN FUND IN THE AMOUNT OF $3,109,754.00, FROM AVAILABLE FUNDS, AND (2) INCREASING APPROPRIATIONS IN THAT FUND IN THE AMOUNT OF $114,153.00 AND REDUCING FUND BALANCE BY THE SAME AMOUNT, CONTINGENT UPON THE ADOPTION OF THE ORDINANCE LEVYING SPECIAL ASSESSMENTS FOR THE 2020 TAX YEAR, FOR THE PURPOSE OF PROVIDING IMPROVEMENTS AND SERVICES FOR THE PUBLIC IMPROVEMENT DISTRICT 1 — DOWNTOWN DURING FISCAL YEAR 2020-2021; 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 2020-2021 in the Budget of the City Manager, there shall also be (1) increased estimated receipts and appropriations in the Fiscal Year 2020-2021 Fort Worth Public Improvement District 1 —Downtown Fund("Fund")in the amount of $3,109,754.00, from available funds, and (2) increased appropriations in the Fund in the amount of $114,153.00 and reducing fund balance by the same amount, contingent upon the adoption of the ordinance levying special assessments for the 2020 Tax Year,for the purpose of providing improvements and services for Public Improvement District 1 —Downtown during Fiscal Year 2020-2021. 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, 2020, and ending September 30, 2021, 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. APPROVED AS TO FORM AND LEGALITY: CITY SECRETARY O R r IIich(Aug 27,202017:02 CDT) V v ` •.' Tyler F.Wallach,Assistant City Attorney Mary J. Kayser U :_ ADOPTED AND EFFECTIVE: August 25, 2020 *':: � » i ®f ( « � Ln a \ . $ « ^ \37, HITE SETTLEMENT Heritage � �«A4 �0 IWm 6 ma � � 0YN \ . � 199 : 0 Arrs !a .� 'PO � k & r « ® 0 « Gomel & % J. 7T§ � $ < L Burk �edFio, » Burnett R- 10TH k Peter 9 s 4 $ Water 2Gardens Ln H47 r e m m& 1A&CASTER % z z z /okay 4 FORT WORTH a� P|D 1| Downtown Source:Planning and Data AnalY b ' q 0�July 2200 �� . n , OCo pvri@»»cof Fort Worth.Unauthorized reproduction i violation of applicable l.___is_._______ riot have been prepared for or_suitable for legal,engineering,m surveying purposes..does riot represent_ ¥_nd survey and represents only the•_©©relativelocation ofnperty boundarie-The City of Fort__assumes-responsibility®©_racy ofsaid data. O 50 1,00 200Fk N City of Fort Worth Five Year Service Plan Public Improvement District No. 1 -Fort Worth FY20/21 FY21/22 FY22/23 REVENUES PID Assessments* $ 2,616,166 $ 2,800,146 $ 2,856,149 COFW Assessment 207,855 212,012 216,252 COFW Payment in lieu of Services 152,948 156,007 159,127 PID Generated Revenue 132,785 155,000 145,000 Total Budgeted Revenues $ 3,109,754 $ 3,323,165 $ 3,376,528 Use of Fund Balance 114,153 - - Total Revenues $ 3,223,907 $ 3,323,165 $ 3,376,528 EXPENSES Management Fee $ 476,950 $ 480,000 $ 496,221 Utilities 15,500 15,500 16,124 Landscaping/Maintenance 125,000 95,000 129,969 Trash Removal 1,242,380 1,240,000 1,279,923 Holiday Light/Deco 30,000 30,000 43,858 Security 11,200 11,200 11,745 Ambassador Program 680,000 685,000 707,565 Communications/Newsletters 9,000 9,000 9,364 Marketing & Research 399,600 383,445 415,744 Transportation & Planning 167,000 160,000 173,747 City Audit 2,500 2,500 2,500 City Administrative Fee 64,777 66,463 67,531 Total Budgeted Expenses $ 3,223,907 $ 3,178,108 $ 3,354,291 Contribution to Fund Balance $ - $ 145,057 $ 22,237 Net Change in Fund Balance $ (114,153) $ 145,057 $ 22,237 Estimated Fund Balance, Beginning of Year 506,414 392,261 537,318 Estimated Fund Balance, End of Year 392,261 537,318 559,555 Reserve Requirement 520,030 537,318 529,685 Over(Under) Reserve $ (127,769) $ - $ 29,870 *FY2021 Assessment Rate=$.105 FY23124 FY24/25 $ 2,913,272 $ 2,971,537 220,577 224,989 162,310 165,556 145,000 145,000 $ 3,441,159 $ 3,507,082 $ 3,441,159 $ 3,507,082 $ 506,144 $ 516,267 16,447 16,776 132,567 135,220 1,305,522 1,331,633 44,736 45,631 11,981 12,220 721,717 736,150 9,551 9,742 424,059 432,540 177,222 180,766 2,500 2,500 68,823 70,143 $ 3,421,269 $ 3,489,588 $ 19,890 $ 17,494 $ 19,890 $ 17,494 559,555 579,445 579,445 596,939 559,049 570,212 $ 20,396 $ 26,727 City of Fort Worth, Texas Mayor and Council Communication DATE: 08/25/20 M&C FILE NUMBER: M&C 20-0570 LOG NAME: 13FMS PID01 FY21 SUBJECT (CD 9)Conduct Public Benefit Hearing for Fort Worth Public Improvement District 1 -Downtown,Approve Fiscal Year 2021 Budget in the amount of $3,223,907.00 and Five-Year Service Plan,Approve Tax Year 2020 Assessment Roll,Adopt Ordinance Levying Special Assessments for the 2020 Tax Year at a Rate of$0.105 Per Each$100.00 of Property Value,Authorize Execution of an Agreement with Downtown Fort Worth, Inc.,in the Amount of$476,950.00 to Manage the PID,and Adopt Appropriation Ordinance (PUBLIC HEARING-a.Report of City Staff:Anthony Rousseau;b.Public Comment;c.Council Action:Close Public Hearing and Act on 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 Fort Worth Public Improvement District 1 -Downtown for the 2020 tax year; 2. Approve the attached Fiscal Year 2021 Budget in the amount of$3,223,907.00 and Five-Year Service Plan for Fort Worth Public Improvement District 1 -Downtown; 3. Approve the Tax Year 2020 Assessment Roll for Fort Worth Public Improvement District 1 -Downtown,on file with the City Secretary; 4. Adopt the attached ordinance levying special assessments on the property located in Fort Worth Public Improvement District 1 -Downtown for the 2020 tax year at a rate of$0.105 per each$100.00 of property value; 5. Authorize the execution of an Agreement with Downtown Fort Worth, Inc.,in the amount of$476,950.00 to provide management and improvement services for Fort Worth Public Improvement District 1 -Downtown during Fiscal Year 2021;and 6. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the FWPID#1 -Downtown Fund in the amount of$3,109,754.00 from available funds;and(2)increasing appropriations in the FWPID#1 -Downtown Fund in the amount of $114,153.00 and reducing fund balance by the same amount. DISCUSSION: On June 23,2009,the Mayor and City Council adopted Resolution No.3756-06-2009 re-establishing Fort Worth Public Improvement District 1 - Downtown(Downtown PID) The purpose of this benefit hearing is to receive comments from the public regarding the Fiscal Year 2021 Budget and Five-Year Service Plan for the Downtown PID and the proposed assessments to be levied on each property in the Downtown PID for the 2020 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 2020 Assessment Roll;and(c)adopt the attached ordinances levying the proposed assessments and appropriating funds. The improvements and services to be provided in the Downtown PID during the Fiscal Year 2021 and the costs thereof are as follows: Fiscal Year 2021 Budget Improvements Total Budgeted Cost Management Fee U76,950.001 Utilities $15,500.00 Landscaping/Main_tenance $125,000.00 Trash Removal —_ $1,242,380.00 Holiday Light/Deco $30,000.00 Security $11,200.00 Ambassador Program_ _ _ _ $680,000.00 Communications/Newsletters $9,000.00 Marketing&Research __$_399,600.00 Transportation&Planning $167,000.00 City Audit $2,500.00 I.qit—y-Administrative—Fee----- __$64,777.00 Total Expenses $3,223,907.00 The total budgeted costs of the improvements and services are$3,223,907.00. Of this amount,$2,616,166.00 will be funded by assessments collected on privately owned parcels located in the Downtown PID by applying a rate of$0.105.The remainder of the costs in the amount of $607,741.00 will be funded by other revenue sources including:(a)$207,855.00 in direct payments from the City for Payment In-Lieu of Assessments,(b)$152,948.00 in direct payments from the City for Payment In-Lieu of Services,(c)$132,785.00 in revenues generated by Downtown PID activities,and(d)$114,153.00 transferred from the unaudited,unassigned fund balance. On August 18,2020,the City Council conducted a public hearing to receive comments on the proposed 2020-2021 Fiscal Year Budget,Five-Year Service Plan,and 2020 Assessments for the Downtown PID. Notice of the August 18,2020,benefit hearing and this hearing were published in the Fort Worth Star- Telegram and mailed to all owners of property on record in the Downtown PID on August 7,2020,in accordance with state Iaw.The Downtown PID advisory board recommended approval of the budget. The Downtown PID is located in COUNCIL DISTRICT 9. FISCAL INFORMATION/CERTIFICATION: The Director of Finance certifies that upon approval of the above recommendations and the adoption of the Fiscal Year 2020-2021 Budget by the City Council,funds will be available in the Fiscal Year 2021 operating budget,as appropriated,of the FWPID#1 -Downtown Fund. Prior to any expenditure being incurred,the Financial Management Services Department has the responsibility to validate the availability of funds. Submitted for City Manager's Office by: Jay Chapa 5804 Originating Business Unit Head: Reginald Zeno 8517 Additional Information Contact: Crystal Hinojosa 7808