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Home My WebLink AboutContract 54863-A1CSC N o. 54863-A1 FIRST AMENDMENT TO CITY SECRETARY CONTRACT NO. 54863, A MANAGEMENT AND IMPROVEMENT SERVICES AGREEMENT Fort Worth Public Improvement District No. 11 (Stockyards) This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 54863 ("First Amendment") is made and entered into by and between the CITY OF FORT WORTH ("City"), a home- rule municipal corporation organized under the laws of the State of Texas, acting by and through its duly authorized Assistant City Manager, and STOCKYARDS PRESERVATION FOUNDATION OF FORT WORTH, INC., a Texas nonprofit corporation, ("Contractor") acting by and through its duly authorized representative. WHEREAS, the City and Contractor are parties to a Management and Improvement Services Agreement for Fort Worth Public Improvement District No. 11, the same being City Secretary Contract Number 54863 ("Agreement"); WHEREAS, Contractor identified the need to revise the budget; WHEREAS, on Apri16, 2021, the City Council authorized a resolution approving a revised Fiscal Year 2020-2021 budget and iive-year service plan, taking into account the revised budget; WHEREAS, the parties wish to amend the Agreement to incorporate the revised budget; and NOW, THEREFORE, for and in consideration of the mutual covenants, promises, and agreements contained herein, the City and Contractar do hereby covenant and agree to amend the Agreement as follows: 1. Exhibit A to the Agreement concerning the Budget and Service Plan for the District is replaced with, and superseded by, a new Exhibit A that is attached to this First Amendment, which is incorporated into the Agreement for all purposes. 2. All terms of this First Amendment that are capitalized but not defined have the meanings assigned to them in the Agreement. 3. All terms and conditions of the Agreement that are not expressly amended pursuant to this First Amendment will remain in full force and effect. IN WITNESS WHEREOF, the undersigned have caused this First Amendment to be executed in Fort Worth, Tarrant County, Texas. CITY OF FORT WORTH: T�S.U�- B�.Jesus J. Chapa (Jun 8, 02114:02 CDT) Jay Chapa Deputy City Manager Date: J u n 8� 2021 First Amendment to CSC 54863 STOCKYARDS PRESERVATION FOUNDATION OF FORT WORTH, INC. a Texas nonprofit corporation sTEVE rnURRIN, TR. BV:sTEVE mURRIN, JR. (Jun 3, 202115:14CDT) > Steve Murrin, Jr. President Date: J u n 3, 2021 OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX ATTEST: By: ��/�Z��e�� Mary J. Kayser City Secretary .d4U�� aa� FORr a� � oF0000000000� a , �►� °�� o �g o= t� g o ? � �o 00 �� d,, °°�00000� a APPROVED AS TO FORM AND LEGALITY: iyf�. G�%a�'� By: 0 Tyler F. Wallach Senior Assistant City Attorney Contract Compliant Manager: By signing, I acknowledg that I am the person responsible for the monitoring and administration of this contract, including ensuring all performance and reporting requirements. �� Crystal Hinojosa Sr. Contract Compliance Specialist M s: 20-0573 (August 25, 2020); 21-0226 (Apri16, 2021) Form 1295: 2020-653866 First Amendment to CSC 54863 OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX REVENUES PI � Assessments Total Budgeted Revenues Useof Fund Balance TaffiI Funds Avaflable (or Use EXPENSES ManagementFee LitterAbatem�nt8 Maintenance 5ecurity Pu61cc Events Ca pital i m provemenis- Street Ligh4s Insurance Website & Other Merkeiing' Crty Audii Fee Grty Admimstrativa Fee Tahl BudgeMd Expenses Net Change in Fund Balance Fund Balance, Beginning of Year (Estimated Yrs 2-5} Estimated Fund Balance, EndoTYear Reserve Requirement Over {UnderJ Reserve "FY2a21 Assessment Rate = S.i2 Exhibit "A" City of Forl WorM Five Year Service Plan [Midyear) Pu61ic Improvement 6istrict No. 1'I -Stockyards FY 20l21 FY21122 FY27123 FY23124 FY24125 $ 793,097 $ 200,827 $ 208:854 $ 217,208 S 225:895 S 193,087 S 200,921 $ 208.854 S 217,208 S 225,896 109,361 9 240 - ' - $ 302,458 $ 210,a6'1 $ 206,854 $ 217,208 $ 225,896 $ 97,558 $ 17,558 $ 17,558 $ 17,558 5 17:558 85,000 39,OD0 45,D00 45,000 40,D00 47,006 42,QOD 45,000 45,ObQ Sa,000 55,638 39,087 42,326 a5,358 a5,320 zs,oaa is,aoo 90Q 90D 9D0 i,000 1:D00 65,Ofl6 45,Q0� 5�:D00 55,000 65:�00 2,590 2,500 2:500 2,500 2:500 3,852 4,p16 4,177 4,344 4,518 $ 302,458 $ 205,06'I $ 2W,461 $ N5,7fi6 $ 225,896 3 (109,359j $ (4,240j 5 1,393 S 1,448 S - 148,417 39,056 34,876 36,209 37,657 35,05fi 34,816 36,209 37,657 37,657 37,941 34,584 35,967 37,657 37,657 $ 27,115 $ 232 � 242 a - $ - First Amendment to CSC 54863 3 of 3 City of Fort Worth, Texas Mayor and Council Communication DATE: 04/06/21 M&C FILE NUMBER: LOG NAME: 17PID11 MIDYEARFY21 SUBJECT (CD 2) Adopt Attached Resolution Amending the Fiscal Year 2020-2021 Budget and Five-Year Service Plan for Public Improvement District 11 - Stockyards 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 11 — Stockyards 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 11 — Stockyards Fund in the amount of $49,000.00 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 with 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 11 - Stockyards (Stockyards PID) Annual Budget (Budget) and recommend the following adjustments. The City contracts with Stockyards Preservation Foundation of Fort Worth, Inc. (Foundation) to manage the Stockyards PID. The Foundation has identified the need to increase the Budget by $49,000.00 to cover expenses associated with Litter Abatement & Maintenance and Capital Improvements for improvements made to light poles and signage. Revenue adjustments: Line Items Previously Recommended Amended to be Approved FY21 Mid-Year FY21 Budget Adjusted Budget Item Adjustment Item PID Assessments $193,097.00 $0.00 $193,097.00� � Use of Fund $60,361.00 $49,000.00 $109,361.00 Balance Totals $253,458.00� $49,000.00 $302,458.00 Staff supports the Foundation's recommended mid-year budget adjustments. All other previously approved line items not mentioned above remain the same. Upon approval of the above recommendations, the total budgeted expenses for Fiscal Year 2020-2021 will be $302,458.00. This mid-year budget adjustment will decrease the unaudited, unassigned fund balance by a total of $49,000.00. The revised Budget and Five-Year Service Plan will take effect upon approval by City Council. The City and Stockyards Preservation of Fort Worth, Inc. will amend the existing management contract to reflect the mid-year adjustment (City Secretary Contract No. 54863). The proposed changes to the Stockyards PID Budget will maintain compliance with reserve requirements. The Stockyards PID is located in COUNCIL DISTRICT 2. 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 #11 - Stockyards Fund. Prior to any expenditure being incurred, the Economic Development Department has the responsibility to validate the availability of funds. Submitted for City Manager's Office b� Jay Chapa 5804 Originating Business Unit Head: Robert Sturns 2663 Additional Information Contact: Crystal Hinojosa 7808 Expenditure adjustments: