HomeMy WebLinkAboutResolution 3991-06-2011A Resolution
NO. 3991 -06 -2011
APPROVING AN AMENDED BUDGET FOR
FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 1
(DOWNTOWN PID)
FOR FISCAL YEAR 2010 -2011
WHEREAS, pursuant to Resolution No. 3756 -06 -2009 the City Council re-
established the Fort Worth Public Improvement District No. 1 (the "Downtown PID ") on
June 23, 2009; and
WHEREAS, in accordance with Chapter 372 of the Texas Local Government
Code, on September 14, 2010 the City Council approved a budget for the 2010 -2011
fiscal year and a five -year service plan for the Downtown PID pursuant to M &C BH -254;
and
WHEREAS, pursuant to City Secretary Contract No. 41021, the City has
contracted with Downtown Fort Worth, Inc. ( "DFWI ") to manage the day -to -day
administration of the Downtown PID for the 2010 -2011 fiscal year; and
WHEREAS, in accordance with Section 372.013(a) of the Texas Local
Government Code, the City has assigned to the DFWI the responsibility for preparing the
annual budget and five -year service plan for the Downtown PID; and
WHEREAS, in accordance with the City's Policy and Guidelines for Public
Improvement Districts, adopted by the City Council pursuant to Resolution No. 3711 -02-
2009, City staff annually conducts mid -year reviews of all PID budgets to ensure that
actual PID expenditures correspond with budgeted expenses; and
WHEREAS, in consultation with the DFWI, and upon approval of the PID
advisory body, regarding actual PID expenditures and necessary programs and services
required to date, City staff recommends that the City Council approve an amended
budget for the Downtown PID for the 2010 -2011 fiscal year;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS THAT:
1. The following amended budget for the Downtown PID is hereby approved
for the remainder of the 2010-2011 fiscal year:
ORT WOMI
'Tr
Resolution No. 3991 -06 -2011
Line Item
Previously
Approved Budget
Recommended
Mid -Year
Adjustments
Amended
Budget
Management Fee
$328,679.00
0
$328,679.00
Water
$12,500.00
0
$12,500.00
Utilities
$26,000.00
0
$26,000.00
Landscape /Tree Maintenance
$58,925.00
$5,000.00
$63,925.00
Trash Removal (all other Maintenance
expenses
$1,048,880.00
$11,200.00
$1,060,080.00
Holiday lighting /Decoration (Repairs)
$15,000.00
$39,203.00
$54,203.00
Security Enhancement
$80,000.00
0
$80,000.00
Communications /Newsletters
$20,000.00
0
$20,000.00
Marketing and Research
$422,900.00
0
$422,900.00
Public Events
$10,000.00
0
$10,000.00
Transportation & Planning
$251,670.00
0
$251,670.00
Capital Improvements
$5,000.00
0
$5,000.00
Insurance
$9,500.00
0
$9,500.00
Annual Review
$3,500.00
0
$3,500.00
City Administration
$34,354.00
0
$34,354.00
Estimated Operating Reserve
$213,254.00
($55,403.00)
$157,851.00
TOTAL
$2,540,162.00
$2,540,162.00
2. This Resolution shall take effect immediately following its adoption.
Adopted this 7`" day of June 2011.
ATTEST:
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APPROVED
CITY COUNCIL
JUN p7 2011
City Secretary of the
City of Fort Worth, Texas
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 6/7/2011 - Resolution No. 3991 -06 -2011
DATE: Tuesday, June 07, 2011
LOG NAME: 17PID1 NEWBUDFY11
REFERENCE NO.: * *G -17284
SUBJECT:
Adopt a Resolution Approving Revised Fiscal Year 2010 -2011 Budget and Service Plan for Public
Improvement District No. 1, Downtown PID (COUNCIL DISTRICT 9)
RECOMMENDATION:
It is recommended that the City Council adopt the attached Resolution approving a revised 2010 -2011
Fiscal Year Budget and Service Plan for Public Improvement District No. 1, Downtown PID.
DISCUSSION:
On September 14, 2010, (M &C BH -254) the City Council adopted a Budget and Service Plan for the
Downtown PID for the 2010 -2011 Fiscal Year.
The City of Fort Worth's (City) Policy and Guidelines for Public Improvement Districts (PIDs) provides for
City staff to administer and oversee all PIDs. The staff conducts a mid -year review of the annual budget
of all PIDs and recommends adjustments as needed so that actual PID expenditures reasonably
correspond with budgeted expenses. If funds are available after collection of final assessments, these
adjustments may allow for additional proposed PID projects that were discussed in the City Council's
public hearing concerning the assessments but that were not included in the original budget. The
proposed revisions to the Downtown PID Budget and Service Plan for the 2010 -2011 Fiscal Year, with
corresponding explanations, are as follows:
Line Item
Previously
Recommended
Amended
Approved Budget
Mid -Year
Budget
Adjustments
Management Fee
$328,679.00
0
$328,679.00
Water
$12,500.00
0
$12,500.00
Utilities
$26,000.00
0
$26,000.00
1. Landscape /Tree Maintenance
$58,925.00
$5,000.00
$63,925.00
2. Trash Removal (all other
$1,048,880.00
$11,200.00 $1,060,080.00
Maintenance expenses)
3. Holiday lighting /Decoration (Repairs)
$15,000.00
$39,203.00
$54,203.00
Security Enhancement
$80,000.00
0
$80,000.00
Communications /Newsletters
$20,000.00
0
$20,000.00
Marketing and Research
$422,900.00
0
$422,900.00
Public Events
$10,000.00
0
$10,000.00
Transportation & Planning
$251,670.00
0
$251,670.00
Capital Improvements
$5,000.00
0
$5,000.00
Insurance
$9,500.00
0
$9,500.00
Logname: 17PIDINEWBUDFYI I Page I of 2
Annual Review $3,500.00 0 $3,500.00
City Administration $34,354.00 0 $34,354.00
4. Estimated Operating Reserve $213,254.00 ($55,403.00) $157,851.00
TOTAL $2,540,162.00 $2,540,162.00
Explanation:
1. Landscape /Tree Maintenance: An increase of $5,000.00 is required to pay for trimming of 55 trees
in the District near buildings;
2. Trash Removal (all other Maintenance Expenses): An increase of $11,200.00 is required for
overtime labor by maintenance sub - contractors during inclement weather;
3. Holiday Lighting /Decoration (Repairs): An increase of $39,203.00 is required for the Main Street
Tree Lighting Project expense, a necessary correction. Item was capitalized, but it should be
expensed; and
4. Estimated Operating Reserve: A decrease of $55,403.00.
Upon adoption of the resolution, the revised budget and plan of service will take effect.
The Downtown PID is located in COUNCIL DISTRICT 9.
FISCAL INFORMATION / CERTIFICATION:
The Financial Management Services Director certifies that this action will have no material effect on City
funds.
FUND CENTERS:
TO Fund /Account/Centers
CERTIFICATIONS:
Submitted for Citv Manaaer's Office b
Originating Department Head:
Additional Information Contact:
FROM Fund /Account/Centers
Susan Alanis (8180)
Jay Chapa (5804)
Sylvia Flores (8550)
Logname: 17PID I NEWBUDFY I I Page 2 of 2
REVENUES
PID Assessments
COFW Assessments
City Payment in -lieu of Service
PID Generated Revenue,Other
Prior Year's assessment
Total Revenues
EXPENSES
Management Fee (Administration)
Water
Utilities
Landscape/Tree Maintenance
Trash Removal (all other Maint exp)
Fence Maintenance
Holiday Lighting /Decoration (Repairs)
Security Enhancement
Communications /Newsletters
Marketing (& Research)
Public Events
Transportation & Planning
Capital Improvements
Replacements
Insurance
Annual review (Audit)
City Administrative Fee
Budget Expenses
Estimated Operating Reserve
Total Expenses
City of Fort Worth
PROPOSED FIVE YEAR SERVICE PLAN
Public Improvement District No. 1 - Downtown
FYI 0/11 FYI 1/12 FY12/13 FY13/14 FY 14/15
1,528,156
1,558, 720
1,590,000
1,621,700
1,654,125
189,518
193,308
197,175
201,118
205,140
138,498
141,270
144,095
146,972
149,145
130,163
155,780
165,000
175,000
180,000
553,827
213,254
40,000
65,000
70,000
$ 2,540,162 $ 2,262,332 $ 2,136,270 $ 2,209,790 $ 2,258,410
328,679
335,398
341,315
349,402
355,898
12,500
13,000
13,500
14,000
14,500
26,000
27,000
28,000
29,000
29,000
63,925
60,104
61,305
62,532
63,783
1,060,080
1,057,909
974,405
1,005,906
1,024,837
0
0
0
0
0
54,203
15,000
15,000
15,000
15,000
80,000
80,883
83,455
84,840
86,320
20,000
20,000
20,000
20,000
20,000
422,900
381,097
300,000
305,000
310,000
10,000
10,000
10,000
10,000
10,000
251,670
167,900
168,546
186,653
199,887
5,000
5,000
5,000
5,000
5,000
0
0
0
0
0
9,500
10,000
10,500
11,000
11,500
3,500
4,000
4,500
5,000
5,500
34,354
35,041
35,744
36,457
37,185
$ 2,382,311 $ 2,222,332 $ 2,071,270 $ 2,139,790 $ 2,188,410
157,851 40,000 65,000 70,000 70,000
$ 2,540,162 $ 2,262,332 $ 2,136,270 $ 2,209,790 $ 2,258,410