HomeMy WebLinkAbout(0008) PID 6 RESOLUTION (MID YEAR ADJUSTMENT) (2019-2020) (2).pdfA Resolution
NO.
APPROVING AN AMENDED BUDGET AND FIVE-YEAR SERVICE PLAN FOR
FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO.6
(PARK GLEN PID)
FOR FISCAL YEAR 2019-2020
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
27, 2019, the City Council approved a budget for the 2019-2020 fiscal year and a five-year service plan
for the Park Glen PID pursuant to M&C 19-0099;
WHEREAS, pursuant to City Secretary Contract No. 52906, 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 2019-2020 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. 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 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 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 Park Glen PID is hereby amended and
approved for the remainder of the 2019-2020 fiscal year in accordance with Exhibit "A", which is
attached hereto.
This Resolution shall take effect immediately following its adoption.
Adopted this day of
ATTEST:
M.
Mary J. Kayser, City Secretary
2020.
EXHIBIT A
City of Fort Worth
Five Year Service Plan
Public Improvement District No. 6 - Fort Worth
Mid -Year Revision
FYI 9/20 FY20/21 FY21/22 FY22/23 FY23/24
PID Assessments $1,606,226 $1,606,226 $1,606,226 $1,606,226 $1,606,22E
COFW Payment in lieu of Services 199,556 199,556 199,556 199,556 199,556
ludget Revenues
Use of Fund Balance
otal Revenues
Management Fee
Utilities
Landscaping
Common Area Maintenance
Holiday Decoration
Security Enhancements
Communications
Public Events
Capital Improvements
Insurance
Annual Review
City Administrative Fee
Budget Expenses
Contribution to Fund Balance
Total Expenses
$1,805,782
419,000
$1,805,782
$1,805,782
$1,805,782
$1,805,782
$2,224,782
$1,805,782
$1,805,782
$1,805,782
$1,805,782
127,924
127,924
127,924
127,924
127,924
193,000
193,000
193,000
193,000
193,000
784,500
722,987
722,987
722,987
722,987
512,023
200,000
200,000
200,000
200,000
22,832
22,832
22,832
22,832
22,832
183,985
183,985
183,985
183,985
183,985
22,500
6,909
6,909
6,909
6,909
32,300
32,300
32,300
32,300
32,300
261,000
240,447
240,447
240,447
240,447
36,502
34,182
34,182
34,182
34,182
12,100
5,100
5,100
5,100
5,100
36,116
36,116
36,116
36,116
36,116
2,224,782
1,805,782
1,805,782
1,805,782
1,805,782
$2,224,782
$1,805,782
$1,805,782
$1,805,782
$1,805,782