HomeMy WebLinkAboutOrdinance 24369-08-2020 Ordinance No. 24369-08-2020
AN ORDINANCE(1)INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS
IN THE FISCAL YEAR 2020-2021 FORT WORTH PUBLIC IMPROVEMENT DISTRICT 15
—SUN VALLEY FUND IN THE AMOUNT OF$96,731.00,FROM AVAILABLE FUNDS,AND
(2) INCREASING APPROPRIATIONS IN THAT FUND IN THE AMOUNT OF $16,419.00
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 15—SUN VALLEY 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 15—Sun Valley Fund ("Fund") in the amount
of$96,731.00,from available funds, and(2)increased appropriations in the Fund in the amount of$16,419.00
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 15—Sun Valley 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 noway 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
AwwS TO FORM AND LEGALITY: CITY SECRETARY
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Tyler F.Wallach,Assistant City Attorney Mary J. Kayser k ORr�O
ADOPTED AND EFFECTIVE:August 25,2020
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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 REPRESENT AN ON-THE-GROUND SURVEY AND 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.15-Sun Valley
FY 20/21 FY21/22 FY22/23 FY23/24 FY24/25
REVENUES
PID Assessments $ 96,731 $ 122,504 $ 126,179 $ 129,964 $ 133,863
Use of Fund Balance 16,419 - - - -
Total Funds Available for Use $ 113,150 $ 122,504 $ 126,179 $ 129,964 $ 133,863
EXPENSES
Management Fee $ 13,000 $ 14,000 $ 15,000 $ 15,000 $ 15,000
Security Enhancements 65,000 71,000 74,000 77,500 80,500
Equipment Rental 8,500 8,500 8,500 8,500 8,500
Vehicle Maintenance 4,000 4,000 4,000 4,000 4,000
Surveillance Cameras 14,000 15,000 15,000 15,000 15,000
Insurance 1,000 1,000 1,000 1,000 1,000
Professional Services 2,400 2,400 2,400 2,400 2,400
Website/software 250 500 500 500 1,000
Printing 500 500 500 500 550
City Administrative Fee 2,000 2,450 2,524 2,599 2,677
City Audit 2,500 2,500 2,500 2,500 2,500
Total Budgeted Expenses $ 113,150 $ 121,850 $ 125,924 $ 129,499 $ 133,127
Contribution to Fund Balance - 654 255 465 736
Net Change in Fund Balance $ (16,419) $ 654 $ 255 $ 465 $ 736
Estimated Fund Balance,Beginning of Year 42,069 25,650 26,304 26,559 27,024
Estimated Fund Balance,End of Year 25,650 26,304 26,559 27,024 27,760
Reserve Requirement 17,867 18,858 20,417 21,030 21,661
Over(Under)Reserve $ 7,783 $ 7,446 $ 6,142 $ 5,994 $ 6,099
•FY2021 Assessment Rate=$.210
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 08/25/20 MSC FILE NUMBER: M&C 20-0576
LOG NAME: 13FMS PID15FY21
SUBJECT
(CD 5)Conduct Public Benefit Hearing for Fort Worth Public Improvement District 15-Sun Valley,Approve Fiscal Year 2021 Budget in the
Amount of$113,150.00 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$0.21 Per Each$100.00 of Property Value,Authorize Execution of an Agreement with Orasi Development,LLC,in
the Amount of$13,000.00 to Manage the Fort Worth Public Improvement District 15-Sun Valley,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 15-Sun Valley for the 2020 tax year;
2. Approve the attached Fiscal Year 2020-2021 Budget in the amount of$113,150.00 and Five-Year Service Plan for Fort Worth Public
Improvement District 15-Sun Valley;
3. Approve the Tax Year 2020 Assessment Roll for Fort Worth Public Improvement District 15-Sun Valley,on file with the City Secretary;
4. Adopt the attached ordinance levying special assessments on the property located in Fort Worth Public Improvement District 15-Sun Valley
for the 2020 tax year at a rate of$0.21 per each$100.00 of property value;
5. Authorize the execution of an Agreement with Orasi Development,LLC,in the amount of$13,000.00 to provide management of the
improvements and services for Fort Worth Public Improvement District 15-Sun Valley during Fiscal Year 2020-2021;and
6. Adopt the attached appropriation ordinance(1)increasing estimated receipts and appropriations in the FWPID#15-Sun Valley Fund
(Fund)in the amount of$96,731.00,from available funds,and(2)increasing appropriations in the Fund in the amount of$16,419.00 and
reducing the fund balance by the same amount.
DISCUSSION:
On August 21,2012,the City Council adopted Resolution No.4120-08-2012 establishing Fort Worth Public Improvement District 15-Sun Valley
(Sun Valley 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 Sun Valley PID and the proposed assessments to be levied on each property in the Sun Valley 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 Sun Valley PID and the costs thereof are as follows:
Fiscal Year 2021 Budget
_ Improvements Total Budgeted Cost
Mangement Fee $13,000.00
Security Enhancements $65,000.00
Equipment Rental $8,500.00
Vehicle Maintenance $4,000.00
Surveillance Cameras 71 _ $14,000.00
Insurance $1,000.00
Professional Services $2,400.00
Website/software $250.00
Printing $500.00
City Administrative Fee $2,000.00
City Audit $2,500.00
Total Expenses $113,150.00
The total budgeted costs of the improvements and services are in the amount of$113,150,00.Of this amount,$96,731.00 will be funded by
assessments collected on privately owned parcels located in the Sun Valley PID by applying a rate of$0.21 per each$100.00 of property value.
The remaining$16,419.00 will be funded by a transfer from the unaudited,unassigned fund balance.
For Fiscal Year 2019-2020(tax year 2019)PID 15 levied an assessment of$0.24 per$100.00 of property value.The PID experienced growth in
net taxable value equal to$3,511,575.00,or 8%,allowing for the assessment rate to be reduced by$0.03.Thus the recommended Fiscal Year
2020-2021 (tax year 2020)assessment rate is$0.21 per$100.00 of taxable property value.
On August 18,2020,the City Council conducted a public hearing to receive comments on the proposed Fiscal Year 2020-2021 Budget,Five-Year
Service Plan,and 2020 Assessments for the Sun Valley 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 Sun Valley PID on August 7,2020,in accordance with state law.
The Sun Valley PID is located in COUNCIL DISTRICT 5.
FISCAL INFORMATION I 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#15-Sun Valley 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