HomeMy WebLinkAbout(0086) M&C 19-0090City of Fort Worth, Texas
Mayor and Council Communication
DATE: 08/20/19 M&C FILE NUMBER: M&C 19-0090
LOG NAME: 13FMS PID15FY20 BENEFIT
SUBJECT
Conduct Public Benefit Hearing Regarding the Proposed Fiscal Year 2019-2020 Budget, Five -Year Service Plan, and 2019 Assessment for
Public Improvement District No. 15, Sun Valley (COUNCIL DISTRICT 5) (PUBLIC HEARING - a. Report of City Staff: Angela Estrada; b. Citizen
Presentations; c. Council Action: Close Public Hearing and Approve the M&C)
RECOMMENDATION:
It is recommended that the City Council:
1. Conduct a public benefit hearing to receive comments on the proposed budget, Five -Year Service Plan, and assessment for Fort Worth Public
Improvement District No. 15, Sun Valley, for Fiscal Year 2019-2020;
2. Approve the filing of the proposed 2019 Assessment Roll for the Sun Valley Public Improvement District with the City Secretary for public
inspection; and
3. Set a public benefit hearing for August 27, 2019 at 7:00 p.m., for final approval of the Sun Valley Public Improvement District's Fiscal Year 2019-
2020 Budget, Five -Year Service Plan, and 2019 Assessment.
DISCUSSION:
On August 21, 2012, the Mayor and City Council adopted Resolution No. 4120-08-2012 establishing the Sun Valley Public Improvement District
(PID).
State law requires an annual report on the proposed budget and Five -Year Service Plan for the PID, which is attached. The general nature of the
proposed improvements and/or services to be provided in the PID include:
• A PID security patrol program designed to increase the security, walkability, employee safety, and enhance the business environment of the
industrial park.
• Various capital, beautification, and security -related improvements within the PID, including, but not limited to, lighting, landscaping, signage,
sidewalks, and street and drainage improvements.
• Marketing activities that include website development.
• A management program to provide for the establishment, administration, and operation of the PID.
On February 13, 2018, the City Council adopted a Revised Policy for Operating Public Improvement Districts (Resolution 4905-02-2018), which
sets forth the City's administrative fee structure for all PIDs. The City's administrative fee is set at the greater of: (1) two percent (2%) of the
projected externally generated revenue for that year, to include special assessments and any City contributions; or (2) $2,000.00.
The proposed 2019 assessment rate on property subject to assessment in the PID is $0.24 per each $100.00 of valuation. The proposed
2019 Assessment Roll for the PID will be filed with the City Secretary and available for public inspection during normal business hours at any time
prior to the August 27, 2019 Public Benefit Hearing. The Sun Valley PID is located in COUNCIL DISTRICT 5.
For fiscal year 2019 (tax year 2018) PID 15 levied an assessment rate of $0.26 per $100.00 of property value. The PID experienced growth in net
taxable value equal to 17.5%, or $5,713,321.00 allowing for the assessment rate to be reduced by $0.02. Thus the recommended fiscal year 2020
(tax year 2019) assessment rate is $0.24 per $100.00 of taxable property value. Even with the lower assessment rate, revenue growth year over
year is $9,681.00 or 10%.
A Form 1295 is not required for this contract because: This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION / CERTIFICATION:
The Director of Finance certifies that this action will have no material effect on City funds. Subsequent actions will formally establish the
assessment rate and the corresponding budget for Fiscal Year 2020.
Submitted for City Manager's Office W. Kevin Gunn 8180
Originating Business Unit Head: Reginald Zeno 8500
Additional Information Contact: Angela Estrada 8511