HomeMy WebLinkAbout(0017) PID 12 Resolution (FY 2020-2021).PDFA Resolution
NO.
APPROVING AN AMENDED BUDGET AND FIVE-YEAR SERVICE PLAN FOR
FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 12
(CHAPEL HILL PID)
FOR FISCAL YEAR 2020-2021
WHEREAS, pursuant to Resolution No. 3060, the City Council established the Fort Worth
Public Improvement District No. 12 (the "Chapel Hill PID") on March 23, 2004;
WHEREAS, in accordance with Chapter 372 of the Texas Local Government Code, on August
25, 2020, the City Council approved a budget for the 2020-2021 fiscal year and a five-year service plan
for the Chapel Hill PID pursuant to M&C 20-0574;
WHEREAS, pursuant to City Secretary Contract No. 54794, the City has contracted with
FirstService Residential Texas PID, LLC ("FirstService") to manage the day-to-day administration of
the Chapel Hill PID for the 2020-2021 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 Chapel Hill 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. 5312-12-2020, 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 Chapel Hill PID for the 2020-2021 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 Chapel Hill PID is hereby amended and
approved for the remainder of the 2020-2021 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:
M.
Mary Kayser, City Secretary
2021.
EXHIBIT A
City of Fort Worth
Five Year Service Plan (Midyear)
Public Improvement District No. 12 - Chapel Hill
REVENUES
PID Assessments
Total Budgeted Revenues
Use of Fund Balance
Total Funds Available for Use
EXPENSES
Management Fee
City Administrative Fee
Utilities
Landscaping
Common Area Maintenance
Communications
Audit/Annual Review
Capital Improvements
Total Budgeted Expenses
Contribution to Fund Balance
Total Expenses
Net Change in Fund Balance
Fund Balance, Beginning of Year (Estimate Yrs 2-5)
Estimated Fund Balance, End of Year
Reserve Requirement
Over (Under) Reserve
'FY2021 Assessment Rate a $.18
FY20/21 FY21/22 FY22123 FY23/24 FY24/25
$ 79,451 $ 81,040 $ 82,661 $ 84,314 $ 86,000
$ 79,451 $ 81,040 $ 82,661 S 84,314 $ 86,000
23,200 - - - -
$ 102,651 $ 81,040 $ 82,661 $ 84,314 $ 86,000
$ 13,000
$ 13,260
$ 13,525
$ 13,796
$ 14,072
2,000
2,000
2,000
2,000
2,000
17,000
17,000
18,000
19,000
19,000
62,851
34,942
32,000
32,000
30,135
4,250
6,160
6,000
6,000
5,000
1,050
1,100
1,000
1,000
1,000
2,500
2,500
2,500
2,500
2,500
-
-
3,151
3,085
6,867
$ 102,651
$ 76,962
$ 78,176
$ 79,381
$ 80,574
102,651
76,962
78,176
79,381
80,574
$ (23,200)
$ 4,078
$ 4,485
$ 4,933
$ 5,426
42,715
19,515
23,593
28,078
33,011
19,515
23,593
28,078
33,011
38,437
10,892
13,032
13,233
13,432
13,432
$ 8,623
$ 10,561
$ 14,845
$ 19,579
$ 25,005