HomeMy WebLinkAbout(0019) PID 11 RESOLUTION (MID YEAR ADJUSTMENT) (2019-2020).pdfA Resolution
NO.
APPROVING AN AMENDED BUDGET AND FIVE-YEAR SERVICE PLAN FOR
FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 11
(STOCKYARDS PID)
FOR FISCAL YEAR 2019-2020
WHEREAS, pursuant to Resolution No. 2925, the City Council established the Fort Worth
Public Improvement District No. 11 (the "Stockyards PID") on January 28, 2003;
WHEREAS, in accordance with Chapter 372 of the Texas Local Government Code, on August
27, 2019, the City Council approved a budget for the 2019-2020 fiscal year and a five-year service plan
for the Stockyards PID pursuant to M&C 19-0108;
WHEREAS, pursuant to City Secretary Contract No. 52964, the City has contracted with
Stockyards Preservation Foundation of Fort Worth, Inc. ("Contractor") to manage the day-to-day
administration of the Stockyards PID for the 2019-2020 fiscal year;
WHEREAS, in accordance with Section 372.013(a) of the Texas Local Government Code, the
City has assigned to Contractor the responsibility for preparing the annual budget and five-year service
plan for the Stockyards 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. 4905-02-2018, 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 Contractor 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 Stockyards PID for the 2019-2020 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 Stockyards PID is hereby amended and
approved for the remainder of the 2019-2020 fiscal year in accordance with Exhibit "A", which is
attached hereto.
2. This Resolution shall take effect immediately following its adoption.
Adopted this day of
ATTEST:
By:
Mary J. Kayser, City Secretary
2020.
EXHIBIT A
REVENUES
PI D Assessments
Budget Revenues
Use of Fund Balance
Total Revenue
EXPENSES
Management Fee
Litter Abatement& Maintenance
Security
Public Events
Capital Improvements
Insuranoe
Website & Other Marketing'
City Admi nistrative Fee
Budget Expenses
Total Expense
City of Fort Worth
Five Year Service Plan
Public Improvement District No. 11 - Stockyards
Mid -Year Revision
FY19120 FY20121
FY21122
FY22123
FY23t24
5 119,447 $ 120,000 $
125,000
$135,000
$140.000
$119,447 $120,000
$125,000
$135,000
$140,000
42,111
$161,558 $120,000
$125,000
$135,000
$140,000
16,858 17,588
17,588
17,588
17,588
25,000 26,500
28,000
30,000
32,500
- -
18,000
22,000
25,000
17,000 17,000
20,000
25,000
25,000
30,000 15,000
-
-
-
700 800
1,000
1,000
uno
70,000 34,000
34,000
34,000
35,000
2,000 2,000
2,000
2,000
2,000
161,558 112,888
120,588
131,588
138,080
161,556 112,888
120,588 #
131,588
136,088