HomeMy WebLinkAboutOrdinance 17762-09-2007Ordinance No. 17762-09-2007
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN
THE SPECIAL ASSESSMENT DISTRICT FUND IN THE AMOUNT OF $1,094,075 FROM
AVAILABLE FUNDS FOR THE PURPOSE OF FUNDING IMPROVEMENTS AND
SERVICES IN PUBLIC IMPROVEMENT DISTRICT NO. 7 (HERITAGE); 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 $1,094,075 from available funds for the purpose of
funding improvements and services in Public Improvement District No. 7 (Heritage).
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hereby expressly repealed.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.
APPROVED AS TO FORM AND LEGALITY:
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Assistant City Attorne
ADOPTED AND EFFECTIVE: September 11, 2007
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City of Fort Worth
FIVE YEAR SERVICE PLAN
Public Improvement District #7 -Heritage
FY07/08 FY08/09 FY09/10 FY10/11 FY11/12
REVENUE
Assessment Revenues 990,341 1,114,841 1,165,056 1,188,357 1,212,124
City Payment in-lieu of Services 73,734 77,421 81,292 85,356 89,624
Builder Assessment $200 per lot 30,000 20,000 16,000 12,000 -
Total Revenues 1,094,075 1,212,262 1,262,348 1,285,713 1,301,748
EXPENSES
Operations 86,163 93,891 94,609 97,618 99,868
Utilities 242,569 271,822 279,977 288,376 297,027
Landscape Maintenance Program 487,700 553,113 630,280 659,882 680,093
Security Patrols 27,000 27,000 33,000 33,000 33,000
Public Events/Holiday Lighting 20,382 20,993 21,623 22,272 22,940
Insurance 6,500 6,695 6,896 7,103 7,316
Contingency 8,500 8,755 9,018 9,288 9,567
Annual Review 1,700 1,750 1,803 1,857 1,913
City Administration 19,807 22,297 23,301 23,767 24,242
Reserve Fund 45,016 50,316 55,025 57,158 58,799
Subsidy Repayment 148,738 155,630 106,816 85,392 66,983
Total Expenses 1,094,075 1,212,262 1,262,348 1,285,713 1,301,748
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Mayor and Council Communication
COUNCIL ACTION: Approved on 9/11/2007 -Ord. No. 17761-09-2007 & 17762-09-2007
DATE: Tuesday, September 11, 2007
LOG NAME: 13PID7BEN07-08 REFERENCE NO.: BH-233
SUBJECT:
Benefit Hearing for Fort Worth Public Improvement District 7 (Heritage) Concerning Proposed
Property Assessments; Adoption of Ordinance Levying Assessments for Fiscal Year 2007-08;
Adoption of Appropriation Ordinance Allocating Estimated Receipts to the District and Authorize
Execution of aNon-binding Memorandum of Understanding Between the City of Fort Worth and
Hillwood Alliance Residential, L.P., Regarding Reimbursement of Previous Expenditures for Benefit
of District
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RECOMMENDATION:
It is recommended that the City Council:
1. Hold a benefit hearing concerning the proposed property assessments for Fort Worth Public
Improvement District 7 (PID 7) for Fiscal Year 2007-08;
2. Adopt the attached ordinance which levies the proposed assessments for PID 7 for Fiscal Year 2007-08;
3. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations by
$1,094,075.00 in the Special Assessment District Fund PID 7 Project account from available funds; and
4. Authorize the City Manager to execute anon-binding Memorandum of Understanding (MOU) with
Hillwood Alliance Residential, L.P., ("Hillwood") to address a process for reimbursement and amount of
certain PID 7 improvement costs previously incurred by Hillwood.
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 PID 7, to adopt an ordinance levying the
proposed assessments and to adopt an appropriation ordinance allocating estimated receipts to the
District.
On September 11, 2007, (M&C G-15839) 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 7
during the Fiscal Year 2007-08, adopted the proposed 2007 assessment roll and provided notice of this
benefit hearing.
The improvements and services to be provided and the costs thereof are:
Improvements
1) Operations
2) Landscape Maintenance Program
3) Security Patrol
Total Budgeted Costs
$86,163.00
$487,700.00
$27,000.00
Logname: 13PID7BEN07-08
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4) Public Events/Holiday Lighting $20,382.00
5) Insurance $6,500.00
6) Contingency $8,500.00
7) Annual Review $1,700.00
8) City Administration (2% of budgeted assessments) $19,807.00
9) Utilities $242,569.00
10) Reserve Fund $45,016.00
11) Subsidy Repayment $148.738.00
Total Expenditures $1,094,075.00
Under the proposed MOU, a reserve fund will be established annually in order to ensure that sufficient
revenues are available for payment of PID-eligible expenses. The MOU will also establish a process by
which Hillwood will be eligible to receive reimbursement of actual expenditures made by Hillwood for the
benefit of the PID in years when the PID did not have sufficient funds to pay for those improvements. For
the upcoming fiscal year, the reserve fund will be $45,016.00, which represents 5% of the overall
operational costs of the PID, and the reimbursement to Hillwood will not exceed $148,738.00, which will
come from surplus PID funds.
The total budgeted costs of the improvements are $1,094,075.00. Of this amount, $990,341.00 will be
funded by assessments collected on privately owned parcels located in the district by applying a rate of
$0.21 cents to each $100.00 of property value for residential property and $0.11 cents for commercial
property. (Note: Assessment rates are the same as last year.)
The remainder of the costs, $103,734.00 will be funded by other revenue sources, including:
$73,734.00 in a direct payment from the City for payment in lieu of services (appropriated from
the General Fund by City Council action on September 11, 2007, (M&C G-15839); and
$30,000.00 from the district's Builder Assessment of $200.00 per lot.
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 PID management
contract, will enhance each parcel of property in value.
PID 7 is commonly known as the "Heritage" 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 002507002000 $1.094.075.00
GS87 539120 002507002000 $1.094.075.00
Submitted for City Manager's Office by: Karen Montgomery (6222)
Originating Department Head: Lena H. Ellis (8517)
Additional Information Contact: Becky Wood (8550)
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