HomeMy WebLinkAbout(0013) PID 7 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. 7
(HERITAGE PID)
FOR FISCAL YEAR 2019-2020
WHEREAS, pursuant to Resolution No. 2675, the City Council established the Fort Worth
Public Improvement District No. 7 ("Heritage PID") on September 26, 2000;
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 Heritage PID pursuant to M&C 19-0112;
WHEREAS, pursuant to City Secretary Contract No. 52905, the City has contracted with
FirstService Residential Texas PID, LLC ("Contractor") to manage the day-to-day administration of the
Heritage 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 Heritage 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 Heritage 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 Heritage 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:
LO
Mary J. Kayser, City Secretary
2020.
EXHIBIT A
City of Fort Worth
Five Year Service Plan
Public Improvement District No. 7 - Fort Worth
FY19/20 FY20/21
REVENUES
PID Assessments
$1,790,204
$1,929,633
$1,968,226
$2,007,590
$2,047,742
COFW Payment in lieu of Services
191,096
194,918
198,815
202,791
206,848
Budget Revenues
$1,981,300
$2,124,551
$2,167,041
$2,210,381
$2,254,590
Use of Fund Balance
$138,940
252,455
257,504
262,655
267,907
Total Revenues
$2,120,240
$2,377,006
$2,424,545
$2,473,036
$2,522,497
EXPENSES
1�
1 �
�
�
Management Fee
-4
127,928
131,762
135,715
139,786
143,980
Utilities
230,500
237,415
244,537
251,874
259,430
Landscaping/Tree Maintenance
1,127,894
1,161,731
1,219,817
1,256,412
1,294,104
Common Area Maintenance
221,534
228,180
235,025
242,076
249,338
Holiday Lighting
31,500 _
32,445 _
33,418
_ 34,421
35,454
Security Enhancements
78,750
81,113
83,546
86,052
88,634
Advertising
1,000
2,000
2,000
2,000
2,000
Public Events
35,000
86,700
88,434
90,203
92,007
Capital Improvements
206,392
204,000
208,080
212,241
216,486
Insurance
13,9311
14,217
14,501
14,791
15,087
Annual Review
10,000
10,000
10,000
10,000
10,000
City Administrative Fee
35,804
42,491
43,341
44,208
45,092
Budget Expenses
2,120,240
2,232,054
2,318,414
2,384,064
2,451,612
Contribution to Fund Balance
-
-
-
-
-
Total Expenses
$2,120,240
$2,232,054
$2,318,414
$2,384,064
$2,451,612