HomeMy WebLinkAboutResolution 5428-06-2021 A Resolution
NO. 5428-06-2021
AUTHORIZING AND ESTABLISHING FORT WORTH PUBLIC
IMPROVEMENT DISTRICT NO. 21 (LAS VEGAS TRAIL) AND TAKING
CERTAIN OTHER ACTIONS CONCERNING THE DISTRICT
WHEREAS, the Public Improvement District Act, Chapter 372 of the Texas Local
Government Code ("Act") allows for the establishment of public improvement districts ("PID");
WHEREAS, the City of Fort Worth, Texas ("City") received a petition, as revised,
("Petition") requesting the establishment of a PID on land within the City to be known as
Fort Worth Public Improvement District No. 21 (Las Vegas Trail) and has been on file
in the office of the City Secretary for public inspection;
WHEREAS, pursuant to Section 372.009 of the Act, the City provided notice and
publication of a public hearing to be conducted on June 22, 2021, to consider the establishment
of the Las Vegas Trail PID ("Public Hearing"), which notice and publication included the
following: (i) time and place of the public hearing; (ii) general nature of the proposed
improvements and services; (iii) estimated costs of the improvements and services; (iv)
boundaries of the proposed Las Vegas Trail PID; (v) proposed method of assessment; and (vi)
proposed apportionment of costs between the Las Vegas Trail PID and the City;
WHEREAS, notice of the Public Hearing was published on June 4, 2021 in the Fort
Worth Star-Telegram, a newspaper of general circulation in the City, and was also mailed on
June 4, 2021 to all record owners of property subject to assessment under the proposal set forth
in the Petition for the Las Vegas Trail PID; and
WHEREAS, on June 22, 2021, the City Council conducted a Public Hearing on the
establishment of the Las Vegas Trail PID, following receipt of all public comments concerning
the above-referenced matters and adopted this Resolution, making the findings set forth herein
and authorizing and establishing the Las Vegas Trail PID.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH, TEXAS THAT:
1. Recitals.
The findings set forth in the recitals of this Resolution are found to be true and
correct.
2. Findings.
The City Council, after duly considering the evidence and testimony presented at
the Public Hearing and based on all information known by the City Council, hereby
makes the following findings:
2.1. Petition. The Petition was filed with the City Secretary and complies with
Section 372.005 of the Act and has been signed by record owners of taxable real
property liable for assessment under the proposal who constitute: (a) 53.99% of
the appraised value of taxable real property liable for assessment, as determined
by the current roll of the Tarrant Appraisal District, and (b) 54.43% of the area of
all taxable real property that is liable for assessment. At its hearing on June 22,
2021, the City Council revised the boundaries of the Las Vegas Trail PID to
remove 9100 W. Camp Bowie Boulevard. Removal of said property does not
affect the sufficiency of the Petition as removal increases the above-stated
percentages from 53.99% to 54.15% for appraised value and from 54.43% to
54.55% for the area.
2.2 Advisability of the Improvements and Services. It is advisable that the
City exercise the powers granted by the Act in connection with the establishment
of the Las Vegas Trail PID, including undertaking the improvements and services
set forth herein because they are intended to promote the interests of the City by
conferring special benefits on the property within the Las Vegas Trail PID related
to public safety, economic vitality, community engagement, community
enhancement, and certain improvements related thereto, all of which are
anticipated to contribute to, and create and maintain a sense of, individual and
community pride within the Las Vegas Trail PID.
2.3. Nature of the Improvements and Services.
(a) The general nature of the proposed improvements and services to
be provided in the Las Vegas Trail PID, include, without limitation, the
following:
i. Landscaping, promotional sign and banner programs,
lighting, and various other streetscape and capital
improvements, including streets, sidewalks, roadways, and
rights-of-way.
ii. Special supplemental services for improvement and
promotion of the Las Vegas Trail PID, including services
relating to advertising, promotion, health and sanitation,
water and wastewater, public safety, security, business
recruitment, development, recreation, and cultural
enhancement.
iii. Payment of expenses incurred in the establishment,
administration, and operation of the Las Vegas Trail PID.
iv. Any other improvements and services allowed pursuant to
the Act.
(b) The following programs may be initiated to ensure that the
improvements and services are implemented:
i. Public Safety
A. Security patrols will be added to the Las Vegas
Trail PID to increase public safety and allow for
more support in high transit areas and at public and
private events held throughout the Las Vegas Trail
PID.
B. Additional surveillance cameras will be installed in
areas where high illegal activity may occur.
C. Additional lighting will be installed in areas where
the community has expressed a need to create a
well-lit and safe walkable environment during
evening hours.
ii. Community Center Operations
A. The community center within the Las Vegas Trail
PID will be available for public use and will
provide services that are intended to improve and
promote the PID, including, without limitation,
programs designed to increase community
engagement and meet social service needs,
including, without limitation,job training, after and
out-of-school programing, educational pathway
courses, and access to additional social service
providers. Las Vegas Trail PID funding will help
fund these services and offset the overhead
expenses associated with providing the above-stated
services, including, without limitation, staff wages,
office supplies, maintenance fees, equipment, and
utilities.
iii. Community Enhancements
A. A cooperative program with local governments,
neighborhood groups, foundations, universities, and
others to assist with obtaining grants or other
special funding to undertake studies, historic
preservation/restoration, landscape improvements,
street improvements, signs and banners programs,
and other streetscape amenities.
B. Various enhancements to the Las Vegas Trail PID's
main corridors, including, without limitation,
landscaping, maintenance, and litter abatement.
(c) The improvements and services will be a supplement to the
standard level of improvements and services provided by the City. The
City will furnish or pay for the standard level of improvements and
services in the Las Vegas Trail PID comparable to what would be
provided for the taxpayers generally.
2.4. Estimated Cost of the Improvements and Services.
(a) For the 2021-2022 fiscal year, the estimated cost of the above-
referenced improvements and services, and estimated costs to implement
such improvements and services are:
Management Fee $25,000.00
Public Safety $117,371.00
Community Center Operations $76,141.00
Community Enhancement $15,938.00
City Administration Fee $5,795.00
Contribution to Fund Balance $49,516.00
$289,761.00
(b) Such estimated costs are reasonable and appropriate. The costs of
the improvements and services to be provided in the 2021-2022 fiscal year
will be determined in a subsequent annual budget and service plan for the
Las Vegas Trail PID to be approved by the City Council in August or
September of 2021. The initial five (5)-year service plan proposed for the
Las Vegas Trail PID is attached hereto as Exhibit A ("Service Plan") and
incorporated herein for all purposes.
(c) The estimated costs of improvements and services to be provided
in subsequent fiscal years will be subject to future annual budget and
service and assessment plans adopted by the City Council in accordance
with the Act. The service plan, budget, and assessment rate are subject to
annual review and approval by the City Council. The costs for all
improvements and services will be paid in accordance with Section 2.7 of
this Resolution.
2.5. Boundaries of the Las Vegas Trail PID.
(a) The boundaries of the Las Vegas Trail PID include approximately
839 acres of land generally consisting of the area bound by Highway 820
on the west, Interstate Highway 30 on the north, South Cherry Lane on the
East, and certain parcels fronting or adjacent to the south side of Camp
Bowie Boulevard. A map depicting the boundaries, along with a specific
written boundary description, are attached hereto as Exhibits B and C,
respectively, and incorporated herein for all purposes. Such boundaries
are appropriate and the proposed improvements and services provided to
property within such boundaries will promote the interests of the City.
The Las Vegas Trail PID's boundaries may be expanded in accordance
with the Act.
(b) Only those properties within the boundaries of the Las Vegas Trail
PID that are commercial, multi-family, or vacant properties zoned as
commercial will be subject to assessment. Multi-family means any
residential development with eight (8) or more dwelling units. A property
within the boundaries of the Las Vegas Trail PID that is redeveloped into
commercial or multi-family after the establishment of the Las Vegas Trail
PID will automatically be subject to assessment in the City's fiscal year
following such redevelopment.
2.6. Method of Assessment. The method of assessment is proposed to be as
follows:
(a) An annual budget and service and assessment plan will be
presented to the City Council for review and approval prior to the
beginning of each fiscal year for the term of the Las Vegas Trail PID in
accordance with the Act.
(b) The cost of each improvement and service provided during a fiscal
year will be assessed against commercial, multi-family, and commercially-
zoned vacant real property within the Las Vegas Trail PID on the basis of
special benefits accruing to the property because of the improvements and
services according to the value of such property, including the value of
structures or other improvements on the property, as determined by the
Tarrant Appraisal District.
(c) All commercial, multi-family, and commercially-zoned vacant
taxable properties in the Las Vegas Trail PID will be assessed equally and
no annual assessment during the term of the Las Vegas Trail PID will
exceed $0.10 per each $100 of the appraised value of real property,
including the value of structures and other improvements located thereon,
unless otherwise authorized by the Act. Tax-exempt and government-
owned properties will not be assessed. In the event that changes to taxable
status of property within the PID, either in whole or in part, occur that
subsequently affect a property's assessment, then the property will be
liable for the resulting assessment, if any.
(d) Based on the improvements and services to be undertaken in the
Las Vegas Trail PID, as outlined herein and in the service plan, the City
Council hereby finds that the proposed method of assessment is reasonable
and necessary.
2.7. Apportionment of Costs Between the Las Vegas Trail PID and the
City, as a Whole. The apportionment of costs between the Las Vegas Trail PID
and the City, as a whole, is as follows:
(a) Except as set forth in subsection 2.7(b), the entire cost of each
improvement and service will be paid from assessments levied in
accordance with Chapter 372 of the Act (including any interest accrued
thereon) and from other sources of funds, if any, available to the Las
Vegas Trail PID.
(b) No City funds will be used to pay any portion of the cost of any
improvement or service, unless such funding is approved from the City
Council or other appropriate municipal authority on a case-by-case basis.
3. Establishment of the PID; Term.
3.1 Based on the findings set forth above, the Las Vegas Trail PID comprising
the boundaries set forth in Section 2.5 above is authorized to be established and
will be known as Fort Worth Public Improvement District No. 21 (Las Vegas
Trail). The Las Vegas Trail PID will take effect on the date on which the City
Council's authorization to establish the Las Vegas Trail PID pursuant to and in
accordance with this Resolution is published in a newspaper of general circulation
in the City in accordance with Section 372.010(b) of the Act ("PID Effective
Date") and will expire on the earlier of(i) September 30, 2029; (ii) the effective
date of a resolution dissolving the Las Vegas Trail PID adopted by the City
Council following receipt of a petition requesting dissolution and the holding of a
public hearing to consider such dissolution in accordance with Section 372.011 of
the Act; or (iii) any other lawful method provided for dissolution of a PID
pursuant to the Act, as it may be amended. All other provisions of this Resolution
will be effective from and after the adoption of this Resolution.
3.2 Notwithstanding anything to the contrary herein, the Las Vegas Trail PID
will continue in effect until all obligations of indebtedness for all previously-
authorized improvement projects and services in the PID have been fully satisfied
and discharged. The Las Vegas Trail PID will be subject to all conditions,
limitations, and reservations set forth in the findings in Section 2.
4. Advisory Body.
The City Council hereby declines to appoint an advisory body for the Las Vegas
Trail PID pursuant to Section 372.008 of the Act. The City Council hereby reserves the
right to assign responsibility for preparation of the ongoing Service Plan for the Las
Vegas Trail PID to another entity in the absence of such an advisory body, as authorized
by Section 372.013(a) of the Act.
5. Restriction on Construction of Improvements.
In accordance with Section 372.010(c) of the Act, actual construction of any
improvement may not begin until after the twentieth (20th) day following the Las Vegas
Trail PID Effective Date.
6. Publication.
The City Secretary is hereby directed to publish notice of the City Council's
authorization to establish the PID once in a newspaper of general circulation in the City.
ADOPTED this 22nd day of June 2021.
ATTEST:
FORT�o
City Se et i.
U' =2
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EXHIBIT A
SERVICE PLAN
City of Fort worth
(Proposed)Five-Year Itemized Estimate of Revenues and Expenses
Public Improvement District No.21 Las Vegas Trail
j
FY 21122 FY 22123 I FY 23/24 FYI 25 r FY 26126
REVENUES
jPIDAssessments $ 289,761 $ 298,454 $ 307,408 $ 316,630 $ 326,129
EXPENSES TO .
Management Fee $ 25,000 $ 25, $ 26,010 5 26,530 $ 27,061City Administrative Fee 5,795 5, 6,148 6,333 6,523
Public Safety 117,371 138,651 141,347 146,073 150,447
Community Center Operations 76,14' 98,490 101,445 104,488 107,623
Community Enhancement 15,938 28,400 30,741 31,663 32,613
Total Budgeted Expenses $ 240,245 $ 297,010 $ 305,691 $ 315,087 $ 324,267
Contribution to Fund Balance 49,516 1,444 _ 1,717� 1,543 1,862
Total Expenses $ 289,761 $ 298,454 $ 307,408 $ 316,630 $ 326,129
-_.__
Net Change in Fund Balance $ 49,516 5 1,444 $ 1,717 S 1,543' S 1,862
Estimated Fund Balance, Beginning of Year - 49,516 50,960 52,677 54,220
Estimated Fund Balance,End of Year 49,516 50,960 52,871- 54,220 58,082
Reserve Requirement 49,512 50,959 52,525 54,055 54,055
Over(Under)Reserve $ 4 $ 1 152 $ 165 $ 2,027
'FY2022 Assessment Rate=$.10
EXHIBIT B
BOUNDARY MAP
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EXHIBIT C
BOUNDARY DESCRIPTION
WHA= Western Hills Addition SEC III-VIII
Specifically, the area is bounded on the west by SW Loop 820 at the south curb of Camp Bowie
W. Blvd; south by southeast along the Williams, Jack Addition, Block 1, Lot 1R towards the
northern Windrush Addition Block A, Lot 1 boundary line; east along the northern Windrush
property line to Renzel Blvd; east along the southern boundary of Moore, L W Subdivision,
Block C; north along the eastern boundary of Moore, L W Subdivision, Block C along the
drainage culvert behind the cul-de-sac (Guadalupe Rd.); east along the rear property line (north
of Guadalupe Rd. and Monmouth Dr.) of the commercial zoned parcels with frontage on Camp
Bowie W. Blvd to the eastern boundary of Waverly Park Addition, Block 1, Lot A1B; north to
the north curb of Camp Bowie W. Blvd; east to S. Cherry Ln.;
North to the southern boundary of West Plaza Addition, Block 4, Lot D (a point at the rear
property line of the parcels fronting Marydean Ave.); west along the same boundary towards
Broadmoor Drive; northwesterly through Broadmoor at Western Hills Addition, Block 1, Lot 1
along the drainage path to Shenandoah Rd; north over and along Phoenix Drive to Calmont Ave.;
east to Shenandoah Rd.; north to the southern boundary of the Covington, Hays Survey Abstract
256 Tract 9D08; east along the northern boundary of West Plaza Addition, Block 2, Lot A and
CR to the eastern boundary; south to Calmont Ave.; west to Broadmoor Dr.; south on
Broadmoor Dr. to the southern boundary of West Plaza Addition Block 4, Lot Al; east to the
eastern property line of West Plaza Addition Block 4, Lot AR;
North Along the eastern boundary of west plaza addition Block 4 Lot AR to the southern
boundary of Covington, Hays survey Abstract 256 tract 9D7H; East along the same boundary to
South Cherry Lane; North on South Cherry to Calmont Ave.; West along Calmont avenue to the
eastern boundary of West Plaza Addition, Block 2, Lot F; north along the same boundary,
following that boundary east, then north, then west, then back north, then west to the eastern
boundary of West Plaza Addition Block 2, Lot E; then north along the same eastern boundary,
then west along the northern boundary to the eastern boundary of West Plaza Addition Block 2,
Lot B-1 R 1; then north along the same eastern boundary to the Southern boundary of West Plaza
Addition Block 2 Lot B-1R3,then East along the southern boundary line to South Cherry Lane;
North to the northern boundary of Covington, Hays Survey Abstract 256 tract 9D03, West along
the northern boundaries of Covington Hays survey Abstract 256 tracts 9D03, 9D06, and 7A to
the western boundary of Covington, Hays Abstract 256 tract 7A; then southwest to the northern
boundary of Covington, Hays survey 256 tract 7P01, then west along the northern boundary to
Laredo drive, then south on Laredo drive to Calmont Avenue, East on Calmont avenue to the
eastern boundary of WHA block 35R Lot 1R Westwind Park; then south along the eastern
boundary to Mojave trail, then West on Mojave trail to Laredo Drive, then north on Laredo Drive
to the southern boundary of WHA Block 36 Lot
hen north along the western boundary to Calmont Avenue; East on Calmont to Laredo Drive,
then north on Laredo Drive to the northern boundary of WHA Block 96 Lot 2AR;
West from West Fwy. Service Road East Bound to the eastern property line of WHA block 96
Lot 3; south across the eastern boundary, west along the southern boundary line, North along the
western boundary line, West along the northern boundary of WHA block 72 Lot 1R and 2B,
South along the western boundary line of WHA block 72 lot 2B, West along the northern
boundary line of Covington, Hays survey abstract 256 tract 6L01 to Calmont avenue, north on
Calmont to the northeast boundary of Lesok Addition block 1 Lot IA;
South across the western boundaries of Lesok Addition, Block 1, Lots IA and 1B and
Covington, Hays Survey Abstract 256 tract 4B03; South along the western boundary of
Covington, Hays Survey abstract 256 tract 4B03, east along the southern border of Covington,
Hays Survey abstract 256 tracts 4B03 and 6L01, South on the western boundary of WHA block
71 lot 2A 1 through and along to Calmont Ave; west on Calmont Ave. to the western boundary of
WHA Block 70, Lot 1; south along the same boundary; then west on the southern boundary of
WHA Block 70, Lot 2R; south along the eastern boundary and west along the southern boundary
of WHA Block 70, Lot 3RA ;
South on the southeast boundary of WHA block 75 Lot AR1 to North Normandale Street,
Northwest along Normandale Street to Dale Lane, north on Dale Ln. to West Freeway Service
Rd. South EB/West Freeway Service Rd. South looping northwest to southeast to the southern
property boundary of WHA Block 85, Lot DR and then following the southern property
boundary to N. Normandale St.; northeast on N. Normandale St. to the eastern boundary of
WHA Block 78R1 Lot Al; then south along the eastern boundary, then west along the northern
boundary of WHA block 80 Lot AR; north on W. Normandale St. to the northern boundary of
Saturn of Fort Worth Addition, Block 1, Lot 1R-1; west along the same northern boundary to
West Loop 820 Service Road South;
South along West Loop 820 Service Road South to the southern boundary of WHA Block 86,
Lot 3; east along the same southern boundary to W. Normandale St.; southeast on W.
Normandale to and including WHA Block 86, Lot 7RB; south on W. Normandale St. to the
northern boundary of WHA Block 86 Lot 8, and west on same boundary to the northern
boundary of WHA Block 86 Lot 5R1; west on same boundary to the western boundary and south
to Camp Bowie W., then east to the southwestern boundary of WHA Block 86, Lot 1, north on
western boundary of WHA Block 86, Lot 1 to northern boundary of WHA Block 86, Lot 1, then
east to W. Normandale St, including WHA Block 86 Lot 5RA.
North on W. Normandale St. from Camp Bowie W. to S. Normandale St.; east on S. Normandale
St. to the eastern boundary of WHA Block 88, Lot 4R; south along the same eastern boundary to
the southern boundary of WHA Block 88, Lot 3BR1, then east along the same southern
boundary, crossing Portales Dr., to the eastern boundary of WHA Block 89, Lot 2R; then north
along the same eastern boundary to the northern boundary of WHA Block 89, Lot 2R1; then east
along the same boundary; then south along the same boundary; then west along the same
boundary to Portales Dr.; continue west along the northern boundaries of WHA Block 88, Lots
1 R 1, 1 R2, 2BR, 1 BR, 1 F, 1 E, and 1 C to the western
boundary of WHA Block 88, Lot 1C; then south along the same boundary to Camp Bowie W
Blvd; west along the south curb of Camp Bowie W Blvd to W. Loop 820 S.
• This boundary description excludes WHA Block 92, Lot 1 and Block 93, Lot 1.
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 06/22/21 M&C FILE NUMBER: M&C 21-0495
LOG NAME: 17PID21 LASVEGASTRAIL EST
SUBJECT
(CD 3) Conduct Public Benefit Hearing Regarding the Establishment of Public Improvement District No.21 —Las Vegas Trail, Including the
Sufficiency of the Petition and'the Advisability of the Improvements and Services to be Undertaken, Declare the Attached Petition to be Sufficient,
and Adopt the Attached Resolution Authorizing and Establishing Public Improvement District No.21 —Las Vegas Trail
(PUBLIC HEARING-a.Report of City Staff:Crystal Hinojosa; b. Public Comment;c.Council Action: Close Public Hearing and Act on M&C)
RECOMMENDATION:
It is recommended that the City Council:
1. Conduct public benefit hearing regarding the establishment of Public Improvement District No.21 —Las Vegas Trail, including the sufficiency
of the attached petition and the advisability of the improvements and services to be undertaken;
2. Find that the attached petition requesting establishment of Public Improvement District No.21 -Las Vegas Trail meets the requirements
necessary for the City Council to designate the proposed area as a Public Improvement District,pursuant to Chapter 372 of the Texas Local
Government Code;
3. Adopt the attached Resolution: (i) making certain findings concerning the nature and advisability of special improvements and services to be
provided for properties in the Public Improvement District No.21 -Las Vegas Trail,the estimated costs of such improvements and services,
the method of assessment,the boundaries of the Public Improvement District No.21 -Las Vegas Trail,the apportionment of costs between
the Public Improvement District No.21 -Las Vegas Trail and the City,as a whole,and(ii)authorizing and establishing the Public
Improvement District No.21 -Las Vegas Trail;and
4. Direct the City Secretary to publish notice of the establishment of Public Improvement District No.21 -Las Vegas Trail as required by
Chapter 372 of the Texas Local Government Code.
DISCUSSION:
The purpose of this Mayor and Council Communication(M&C)is to conduct a public hearing on the establishment of Public Improvement District
No.21 —Las Vegas Trail(Las Vegas Trail PID).On June 2,2021,city staff received a revised petition requesting establishment of the Las Vegas
Trail PID,which is attached to this M&C.The revised petition has been examined,verified,and found by City staff to meet the requirements of
Section 372 of the Texas Local Government Code (Code),to substantially comply with the City's policy for Operating Public Improvement Districts
(Policy),and to be sufficient for consideration by the City Council.
Specifically,the revised petition complies with Section 372.005 of the Code because it has been signed by record owners of taxable real property
liable for assessment under this proposal who constitute: (a)53.99%of the appraised value of taxable real property liable for assessment,as
determined by the current roll of the Tarrant Appraisal District,and(b)54.43%of the area of all taxable real property that is liable for assessment.
The revised petition,which contains the signatures necessary to establish the Las Vegas Trail PID, is attached hereto and on file with the City
Secretary.
Proposed Boundaries:The Las Vegas Trail PID comprises approximately 839 acres of land generally consisting of the area bound by Highway
820 on the west, Interstate Highway 30 on the north,South Cherry Lane on the east,and certain parcels fronting or adjacent to the south side of
Camp Bowie West Boulevard.A map and specific description of the boundaries are set forth in more detail in the attached resolution.
Only those properties that are commercial,multi-family,or commercially zoned vacant properties will be subject to assessment. Multifamily
property means any residential development with eight(8)or more dwelling units.A property within the proposed boundaries that is redeveloped
into commercial or multi-family after the establishment of the Las Vegas Trail PID will automatically be subject to assessment in the City's fiscal
year following such redevelopment.
Nature of the Improvements and/or Services:The general nature of the proposed improvements and/or services to be provided within the Las
Vegas Trail PID include the following:
• Landscaping,promotional sign and banner programs, lighting,and various other streetscape and capital improvements, including streets,
sidewalks, roadways, and rights-of-way;
• Special supplemental services for improvement and promotion of the Las Vegas Trail PID, including services relating to advertising,
promotion,health and sanitation,water and waste water, public safety,security,business recruitment,development,recreation,and cultural
enhancements;
• Payment of expenses incurred in the establishment,administration,and operation of the Las Vegas Trail PID;and
• Any other improvements and services allowed pursuant to the Act.
The following programs may be initiated to ensure that the proposed improvements are implemented:
• Enhancing and promoting public safety by providing security services,and installing security cameras and fighting,-
Funding services and offsetting overhead expenses associated with providing programs to increase community engagement and social
service needs;and
• Coordinating communication and cooperative programs to inform local business of current events and raise fund for certain projects
Advisability of the Improvements and Services: It is advisable that the City exercise the powers granted by the Code in connection with the
establishment of the Las Vegas Trail PID,including the undertaking of the improvements and services set forth above and in the petition because
they will promote the interests of the City by conferring special benefits on the property within the Las Vegas Trail PID related to public safety,
economic vitality,community enhancements,community engagement,and certain improvements related thereto,all of which are anticipated to
contribute to,and create and maintain a sense of, individual and community pride within the Las Vegas Trail PID.
Estimated Costs:The estimated costs of the proposed improvements and services to be provided in the Las Vegas Trail PID for Fiscal Year
2021-2022 is$289,761.00.The final budget will be subject to a budget and service and assessment plan to be considered by the City Council at a
separate meeting in August or September of 2021.The estimated cost of proposed improvement and services to be provided in subsequent
years will be subject to future annual budget and service plans adopted by the City Council.The actual cost of improvements and services will be
determined in accordance with the approved budget and service and assessment plan to be adopted by the City Council and will be paid from Las
Vegas Trail PID assessments.The proposed five-year budget and service and assessment plan is attached.
Method of Assessment:The costs of the proposed improvements and services will be assessed against property in the Las Vegas Trail PID on
the basis of special benefits accruing to such property because of the improvements and services.Taxable commercial, multi-family,and
commercially zoned vacant properties within the Las Vegas Trail PID will be assessed annually for the improvements and services to be
performed in the Las Vegas Trail PID according to the appraised value of the properties,as determined by the then current tax roll of the Tarrant
Appraisal District.The amount of assessment for each such property within the Las Vegas Trail PID may be adjusted following the annual review of
the service plan.The Las Vegas Trail PID's assessment will not exceed$.10 per each$100.00 of appraised valuation.
Apportionment of Costs:The City will not be obligated to provide any funds to finance the proposed improvements and services,other than from
assessments levied on property within the Las Vegas Trail PID. No City property will be assessed.The City may contribute to the Las Vegas Trail
PID each year an amount equal to the costs that the City would have paid or incurred for the maintenance of any City owned property within the Las
Vegas Trail PID for which the City provides maintenance.Additional participation,if any,by the City in the costs of the Las Vegas Trail PID will be
at the discretion of the City Council.
Upon adoption of the Resolution,the Las Vegas Trail PID will become effective on the date the City Council's authorization to establish the Las
Vegas Trail PID has been published in a newspaper of general circulation and will remain in effect through September 30,2029 or until earlier
dissolved. Notice of this public hearing was published in the Fort Worth Star-Telegram and mailed to all owners of property on record and liable
for assessment in the Las Vegas Trail PID on June 4,2021, in accordance with the Code.
The proposed PID 21 is located in COUNCIL DISTRICT 3.
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 approval of the above recommendations will have no material effect on City funds.
Submitted for City Manager's Office by: Jay Chapa 5804
Originating Business Unit Head: Robert Sturns 2663
Additional Information Contact: Crystal Hinojosa 7808
Expedited