HomeMy WebLinkAboutOrdinance 24363-08-2020 Ordinance No. 24363-08-2020
AN ORDINANCE(1)INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS
IN THE FISCAL YEAR 2020-2021 FORT WORTH PUBLIC IMPROVEMENT DISTRICT 11
—STOCKYARDS FUND IN THE AMOUNT OF $193,097.00, FROM AVAILABLE FUNDS,
AND (2) INCREASING APPROPRIATIONS IN THAT FUND IN THE AMOUNT OF
$60,361.00 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 11 —STOCKYARDS 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 2019-2020 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 11 —Stockyards Fund("Fund")in the amount
of $193,097.00, from available funds, and (2) increased appropriations in the Fund in the amount of
$60,361.00 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 11 —Stockyards 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
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Tyler F.Wallach,Assistant City Attorney Mary J. Kayser o T�w
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COPYRIGHT 2014 CITY OF FORT WORTH. UNAUTHORIZED REPRODUCTION IS A VIOLATION OF APPLICABLE LAWS. THIS
PRODUCT IS FOR INFORMATIONAL PURPOSES AND MAY NOT HAVE BEEN PREPARED FOR OR BE SUITABLE FOR LEGAL,
ENGINEERING, OR SURVEYING PURPOSES.IT DOES NOT REPRESENTAN ON-THE-GROUND SURVEYAND PRESENTS
ONLY THE APPROXIMATE RELATIVE LOCATION OF PROPERTY BOUNDARIES. THE CITY OF FORT WORTH ASSUMES
NO RESPONSIBILITY FOR THE ACCURACY OF SAID DATA.
City of Fort Worth
Five Year Service Plan
Public Improvement District No.11-Stockyards
FY 20/21 FY21/22 FY22/23 FY23/24 FY24/26
REVENUES
PID Assessments $ 193,097 $ 200,821 $ 208,854 $ 217,208 $ 225,896
Total Budgeted Revenues $ 193,097 $ 200,821 $ 208,854 $ 217,208 $ 226,896
Use of Fund Balance 60,361 - - - -
Total Funds Available for Use $ 253,458 $ 200,821 $ 208,864 $ 217,208 $ 225,896
EXPENSES
Management Fee $ 17,558 $ 17,558 $ 17,558 $ 17,558 $ 17,558
Litter Abatement&Maintenance 36,000 25,000 25,000 25,000 30,000
Security 47,000 45,000 45,000 45,000 45,000
Public Events 70,638 40,000 53,719 57,806 60,320
Capital Improvements-Street Lights 10,000 - - - -
Insurance 900 900 900 1,000 1,000
Website&Other Marketing' 65,000 56,727 60,000 64,000 65,000
City Audit Fee 2,500 2,500 2,500 2,500 2,500
City Administrative Fee 3,862 4,016 4,177 4,344 4,518
Total Budgeted Expenses $ 263,468 $ 191,701 $ 208,854 $ 217,208 $ 225,896
Contribution to Fund Balance - 9,120 - - -
Net Change in Fund Balance $ (60,361) $ 9,120 $ - $ - $ -
Estimated Fund Balance,Beginning of Year 93,484 33,123 42,243 42,243 42,243
Estimated Fund Balance,End of Year 33,123 42,243 42,243 42,243 42,243
Reserve Requirement 21,926 42,243 31,950 34,809 36,201
Over(Under)Reserve $ 11,197 $ $ 10,293 $ 7,434 $ 6,042
"FY2021 Assessment Rate=$.12
City of Fort Worth,Texas
Mayor and Council Communication
DATE: 08/25/20 M&C FILE NUMBER: M&C 20-0573
LOG NAME: 13FMS PID11FY21
SUBJECT
(CD 2)Conduct Public Benefit Hearing for Fort Worth Public Improvement District 11 -Stockyards,Approve Fiscal Year 2020-2021 Budget in the
Amount of$253,458.00 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$0.12 Per Each$100.00 of Property Value,Authorize Execution of an Agreement with Stockyards Preservation
Foundation of Fort Worth, Inc.,in the Amount of$17,558.00 to Manage the District,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 11 -Stockyards for the 2020 tax year;
2. Approve the attached Fiscal Year 2020-2021 Budget in the amount of$253,458.00 and Five-Year Service Plan for Fort Worth Public
Improvement District 11 -Stockyards;
3. Approve the Tax Year 2020 Assessment Roll for Fort Worth Public Improvement District 11 -Stockyards,on file with the City Secretary;
4. Adopt the attached ordinance levying special assessments on the property located in Fort Worth Public Improvement District 11 -
Stockyards for the 2020 tax year at a rate of$0.12 per each$100.00 of property value;
5. Authorize the execution of an Agreement with Stockyards Preservation Foundation of Fort Worth,Inc.,in the amount of$17,558.00 to
provide management of the improvements and services for Fort Worth Public Improvement District 11 -Stockyards during Fiscal Year 2020-
2021;and
6. Adopt the attached appropriation ordinance(1)increasing estimated receipts and appropriations in the Fort FWPID#11 -Stockyards Fund
in the amount of$193,097.00 from available funds,and(2)increasing appropriations in the FWPID#11 -Stockyards Fund in the amount of
$60,361.00 and reducing the fund balance by the same amount.
DISCUSSION:
On February 25,2003,the City Council adopted Resolution No.2925 establishing Fort Worth Public Improvement District 11 -Stockyards
(Stockyards PID).
The purpose of this benefit hearing is to receive comments from the public regarding the Fiscal Year 2020-2021 Budget and Five-Year Service
Plan for the Stockyards PID and the proposed assessments to be levied on each property in the Stockyards 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 Stockyards PID and the costs thereof are as follows:
Fiscal Year 2021 Budget
_ Improvements Total Budgeted Cost
Management Fee $17,558.00
Litter Abatement&Maintenance $36,000.00
Security $47,000.00
Public Events I $70,638.00
Capital Improvements-Street Lights $10,000.00
Insurance $900.00
Website&Other Marketing $65,000.00
City Audit Fee $2,500.00
City Administrative Fee $3,862.00
Total Expenses $253,458.00
The total budgeted costs of the improvements and services are in the amount of$253,458.00 Of this amount,$193,097.00 will be funded by
assessments collected on privately owned parcels located in the Stockyards PID by applying a rate of$0.12 per each$100.00 of property value.
The remainder of the costs in the amount of$60,361.00 will be transferred from the unaudited,unassigned fund balance.
Notice of this hearing and the benefit hearing on August 18th were published in the Fort Worth Star—Telegram and mailed to all owners of property
liable for assessment on August 7,2020.The notices set forth a proposed assessment rate of$.07 per each$100.00 of valuation. However,the
City Council has discretion to amend the assessment rate after such notice pursuant to Chapter 372 of the Texas Local Government Code.City
staff,in consultation with The Stockyards Preservation Foundation(PID management company),are now recommending that the assessment rate
remain the same as last year at$0.12 per each$100.00 of valuation.
An email blast was sent to the businesses within the Stockyards PID and was posted on the Stockyards PID Website informing them of this
change in rate prior to this public hearing.
The Stockyards PID is located in COUNCIL DISTRICT 2
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#11 -Stockyards 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