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Home My WebLink AboutOrdinance 24506-10-2020 ORDINANCE NO. 24506-10-2020 AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE TAX INCREMENT REINVESTMENT ZONE- GENERAL CAPITAL FUND IN AN AMOUNT NOT TO EXCEED $1,550,000.00, TRANSFERRED FROM THE TAX INCREMENT REINVESTMENT ZONE NUMBER FOUR-SOUTHSIDE MEDICAL DISTRICT FUND, FOR THE PURPOSE OF FUNDING THE 8TH AVENUE SAFETY AND CIRCULATION IMPROVEMENTS PROJECT (CITY PROJECT NO. 102842); 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 increased estimated receipts and appropriations in the Tax Increment Reinvestment Zone-General Capital Fund in an amount not to exceed $1,550,000.00, transferred from the Tax Increment Reinvestment Zone Number Four- Southside Medical District Fund, for the purpose of funding the 0 Avenue Safety and Circulation Improvements Project(City Project No. 102842). 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 cumulative of Ordinance 24446-09-2020 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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 DBl P ;�� ack(Oct 3Q 2020 09:22 CDT i j/ I Douglas W Black Mary J. Kayser �O,p Sr.Assistant City Attorney O: ADOPTED AND EFFECTIVE: October 27,2020 ~ v. *• •ice"' MAYOR AND COUNCIL COMMUNICATION MAP 20 8th AVE FUNDING AGREEMENT PENN YLVANI PRU PRUITJ PRUJ L 1:� 75 twC ' -If C'OC1PEk: 1p 41 + .pJc ;'T �.1. �.�..,......� — 7�► III � 3 � 1 ' ; •� R u. PULASKIj w �.Yy tom. _ _ - ' r 1 _ - I ��'aav 1 u orr 'rll.li R®SEDALE ZLU 1 Per G- � �" � <C V - r-'-.tr• � � % �� .'ate � 5,� Cp Wd OLEANDER 1 If F MIST (..F.T0E _ _ may+# r Aw R1 VIM .14 City of Fort Worth, Texas Mayor and Council Communication DATE: 10/27/20 M&C FILE NUMBER: M&C 20-0790 LOG NAME: 20 8TH AVE FUNDING AGREEMENT SUBJECT (CD 9)Authorize Execution of Amendment No.1 to City Secretary Contract Number 53913,a Tax Increment Financing Development Agreement with the Board of Directors of Tax Increment Reinvestment Zone Number Four,City of Fort Worth,Texas(Southside TIF),in an Amount up to $800,000.00 for 8th Avenue Safety and Circulation Improvements,Authorize Acceptance of Funds from Southside TIF,Adopt Appropriation Ordinance and Amend the Fiscal Years 2021-2025 Capital Improvement Plan RECOMMENDATION: It is recommended that the City Council: 1. Authorize execution of Amendment No. 1 to City Secretary Contract Number 53913, a Tax Increment Financing Development Agreement with the Board of Directors of Tax Increment Reinvestment Zone Number Four,City of Fort Worth,Texas(Southside TIF),in an Amount up to $800,000.00,for 8th Avenue Safety and Circulation Improvements, increasing the total funding to an amount not to exceed $1,550,000.00; 2. Accept funding in the amount up to$1,550,000.00 from Tax Increment Reinvestment Zone Number Four-Southside TIF to fund the 8th Avenue Safety and Circulation Improvements project; 3. Authorize the re-categorization of FY2021 appropriations in the Tax Increment Reinvestment Zone Number Four-Southside Medical District Fund in the amount not to exceed$1,550,000.00 from the General Operating and Maintenance category to the Transfers and Other category to facilitate a transfer to the Tax Increment Reinvestment Zone-General Capital Fund;and 4. Adopt the attached Appropriation Ordinance increasing the receipts and appropriations in the Tax Increment Reinvestment Zone-General Capital Fund in an amount not to exceed$1,550,000.00,transferred from the Tax Increment Reinvestment Zone Number Four-Southside Medical District Fund for the 8th Avenue Safety and Circulation Improvements project(City Project No. 102842);and 5. Amend the Fiscal Years 2021-2025 Capital Improvement Plan. DISCUSSION: On June 5,2019,the Board of Directors of Tax Increment Reinvestment Zone Number Four(Board),authorized a Tax Increment Financing Development Agreement with the City of Fort Worth to fund the construction of safety and circulation improvements to 81h Avenue between W. Magnolia Avenue and Pennsylvania Avenue in an amount up to$750,000.00(Agreement)pursuant to Board Resolution No.04-2019-03. On May 7,2020,the City and Board executed the Agreement pursuant to the above-stated resolution and City Ordinance 24161-04-2020,thus creating City Secretary Contract No.53913. After a comprehensive design process conducted in close collaboration with the Near Southside, Inc.and area stakeholders,the project scope has been adjusted to include improvements at three intersections along 8th Avenue for essential and more extensive safety elements and upgrades than originally anticipated during the preliminary conceptual design stage.The City Traffic Engineer has approved the plans to proceed to final engineering and construction. Construction of improvements consistent with the approved plans requires additional funding of up to $800,000.00 for a revised funding amount not to exceed$1,550,000.00. On September 2,2020,the Board approved Resolution No.04-2019-05-A1,authorizing an amendment to the Agreement to allow for the above- stated additional$800,000.00 funding for the project.The City's action in this M&C will complete the amendment and transfer of funds for the Project. Funding for this project was not included in the FY2021-2025 Capital Improvement Plan due to project inception after the adoption of the Capital Improvement Plan.The action in this M&C will amend the FY2021-2025 Capital Improvement Plan as approved in connection with Ordinance 24446-09-2020. This project is located in COUNCIL DISTRICT 9. A Form 1295 is not required because:This contract will be with a governmental entity,state agency or public institution of higher education:Board of Directors of Tax Increment Reinvestment Zone#4,City of Fort Worth,Texas FISCAL INFORMATION/CERTIFICATION: The Director of Finance certifies that funds are currently available in the TIRZ#4-Southside Med Dist Fund and upon approval of the above recommendations and adoption of the attached appropriation ordinances,funds will be available in the TIRZ-General Capital Fund for the 8th Ave Safety-Circulation Imp project to support the approval of the above recommendations and execution of the agreement. Prior to an expenditure being incurred,the Transportation&Public Works Department has the responsibility of verifying the availability of funds. Submitted for City Manager's Office by: Dana Burghdoff 8018 Originating Business Unit Head: William Johnson 7801 Additional Information Contact: Mary Hanna 5565