HomeMy WebLinkAboutResolution 5367-04-2021A Resolution
NO. 5367-04-2021
APPROVING AN AMENDED BUDGET AND FIVE-YEAR SERVICE PLAN FOR
FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 6
(PARK GLEN PID)
FOR FISCAL YEAR 2020-2021
WHEREAS, pursuant to Resolution No . 2456, the City Council reestablished the Fort Worth
Public Improvement District No. 6 (the "Park Glen PID") on September 29, 1998 ;
WHEREAS, in accordance with Chapter 372 of the Texas Local Government Code, on August
25, 2020 , the City Council approved a budget for the 2020-2021 fiscal year and a five-year service plan
for the Park Glen PID pursuant to M&C 20-0571;
WHEREAS, pursuant to City Secretary Contract No. 54792, the City has contracted with
FirstService Residential Texas PID, LLC , ("FirstService") to manage the day-to-day administration of
the Park Glen PID for the 2020-2021 fiscal year;
WHEREAS, in accordance with Section 372.013(a) of the Texas Local Government Code, the
City has assigned to FirstService the responsibility for preparing the annual budget and five-year service
plan for the Park Glen PID ;
WHEREAS, in accordance with the City's Policy and Guidelines for Public Improvement
Districts ("PIDs"), adopted by the City Council pursuant to Resolution No. 5312-12-2020, 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 FirstService 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 Park Glen PID for the 2020-2021 fiscal year.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH, TEXAS THAT:
1. The Budget and Five Year Service Plan for the Park Glen PID is hereby amended and approved
for the remainder of the 2020-2021 fiscal year in accordance with Exhibit "A", which is attached
hereto.
2. This Resolution shall take effect immediately following its adoption.
Adopted this 61h day of April 2021.
ATTEST:
By:~~~
Mary J. Kayser, City Secretary
EXHIBIT A
Clly Ill Pon Wotth
Plvt Yew-•,..., (Mklylll)
Pd>ll c lmpr-ent Dttlrlct No. t · l'•k Olen
PY20/21 ,v21122 PY22/23 PY23/24 ,V24/25
REVENUES
!=>ID Auessmmt.s• 1,614,879 1,841,969 $ 1,879,808 $ 1,713,508 1,747,779
COFW Payment in NU of Setvices 189,556 199,556 199,556 199.556 1911.556
Total Budgetitd Revenuu 1,11',235 $ 1,Nl,526 1,1,, .... 1,913,0M s 1,MT,334
Use of Fund Balance 111.9'1 $ $
Tobll ,unds A.-1, 10< Utt 1.12'.17' s 1,MU:15 1,17!i4M 1,913,114 • 1,947,334
IXPINll!I
Manq,menl: F" $ 129,924 $ 132,522 135,172 137,875 140.633
UtiOtlu 168,000 159,000 160,000 161 .000 162,000
LAndouplng 846,133 750,000 950,000 774 ,295 795,000
Common ArH M1lnt•n"1CI 381 ,630 187.972 296.560 307,543 318.854
H~doy Oacor1tk>n 23,000 23,000 23,000 23,000 30,000
Security Enhancemenl$ 206,100 207,000 208.000 209,000 210.000
Communl~Uon1 14.000 14,000 14.000 14,000 14.000
Public;; Evtnts 34,000 34,000 36,000 38,000 38.000
Capi.lW lmptovemtnts 106,000 290,000 107,00 200,000 20Q,DOO
Annual Re\li w, 12,100 12,100 12,100 12,100 12,100
City A<tniniiVative Foe 38,285 36,931 37,689 38,261 38,847
Totol lludgeted l!xpensu 1,l.lt,171 $ 1,14 1,5 25 1,171,414 1,113,°'4 1,947,334
Net Chonge In Fund Bolonce (111,'41 ,0GI $
Fund 81,llnce, Beginning ofYe11 (Estimated Yn 2-5) 468,492 356,661 366,651 366,551 3~661
E.stimaled Fund Balance. End or Yea, 356,551 366,551 358,651 35et551 351,!561
Res•\'8 Rtquiremer't 356,551 313,307 318.808 :124 .821 324,821
Over (Unde.r) ,-;nerve $ 43,244 37,143 $ 31,930 $ 31,930
•P"Y2021 Atte.Hmfflt Rllle • S.155 Resldofnhll S.035 Commercial
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 04/06/21
LOG NAME: 17PID6 MIDYEARFY21
SUBJECT
M&C FILE NUMBER: M&C 21-0224
(CD 4) Adopt Attached Resolution Amending the Fiscal Year 2020-2021 Budget and Five-Year Service Plan for Public Improvement District 6 -
Park Glen and Adopt Attached Appropriation Ordinance
RECOMMENDATION:
It is recommended that the City Council :
1. Adopt the attached resolution approving the revised Fiscal Year 2020-2021 Budget and Five-Year Service Plan for Public Improvement
District 6 -Park Glen to reflect amendments associated with a mid-year review; and
2 . Adopt the attached appropriation ordinance increasing receipts and appropriations in the Fort Worth Public Improvement District 6 -Park
Glen Fund in the amount of $111 ,941.00 in Fiscal Year 2020-2021, from available , unreserved fund balance .
DISCUSSION:
The City of Fort Worth Department of Economic Development administers the City 's Public Improvement Districts (PIDs) in accordance w ith
Chapter 372 of the Texas Local Government Code . The City's Operating PID Policy outlines the need to proactively work with the PID managers to
oversee the services being provided by the PIDs and their associated financial positions . Staff, along with the contracted PID management
companies, have conducted mid-year reviews of the Public Improvement District 6 -Park Glen (Park Glen PIO) Annual Budget (Budget) and
recommend the following adjustments .
The City contracts with FirstService Residential Texas PID , LLC (FirstService) to manage the Park Glen PIO. FirstService has identified the need
to increase the Park Glen PID Budget by the use of fund balance in the amount of $111 ,941 .00, in order to align expenses with actual activities in
the Budget and Five-Year Service Plan . The expense increase can be attributed primarily to increases to common area maintenance line item to
assist with wall maintenance and repair, and the removal of additional insurance line item. Removal of the insurance line item does not
relieve FirstService from acquiring insurance in the types and amounts required under the contract. All such insurance costs are built into the
current management fee .
Revenue adjustments :
Line Items to Previously Recommended Amended
be Adjusted Approved FY21 Mid-Year FY21 Budget
Budget Item Adjustment Item
PID $1,614,679.00 $0 .00 $1,614,679.00 Assessments
COFW
Payment in lieu $199 ,556.00 $0.00 $199 ,566.00
of Services
Use of Fund $0 .00 $111,941.00 $111 ,941.00 Balance
Totals $1,814,235.00 $111,941.00 $1,926,176.00
Expenditure adjustments :
Line Items Previoulsy Recommended Amended
to be Approved FY21 Mid-Year FY21 Budget
Adjusted Budget Item Adjustment Item
Common
Area $213 ,295.00 $148 ,339.00 $361,634.00
Maintenance
Staff supports FirstService's recommended mid-year budget adjustments . All other previously approved line items not mentioned above remain
the same. Upon approval of the above recommendation, the total budgeted expenses for Fiscal Year 2020-2021 will remain at $1,926,176 .00. The
revised Budget and Five-Year Service Plan will take effect upon approval by City Council. The City and FirstService will update the exiting contract
to reflect the mid-year adjustment (City Secretary Contract No. 54792).
The Park Glen PID is located in COUNCIL DISTRICT 4 .
A Form 1295 is not required because : This M&C does not request approval of a contract with a business entity .
FISCAL INFORMATION/ CERTIFICATION:
The Director of Finance certifies that upon approval of the above recommendations and adoption of the attached appropriation ordinance , funds
will be available in the current operating budget, as appropriated , in the FWPID #6 -Park Glen Fund . Prior to any expenditure being incurred ,
the Economic Development Department has the responsibility to validate the availab ility of funds .
Submitted for City Manager's Office by: Jay Chapa 5804
Originating Business Unit Head: Robert Slums 2663
Additional Information Contact: Crystal Hinojosa 7808