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HomeMy WebLinkAbout(0290) M&C 21-0495City of Fort Worth, Texas Mayor and Council Communication DATE: 06/22/21 M&C FILE NUMBER: M&C 21-0495 LOG NAME: 17PID21 LASVEGASTRAIL EST SUBJECT (CD 3) Conduct Public Benefit Hearing Regarding the Establishment of Public Improvement District No. 21 — Las Vegas Trail, Including the Sufficiency of the Petition and the Advisability of the Improvements and Services to be Undertaken, Declare the Attached Petition to be Sufficient, and Adopt the Attached Resolution Authorizing and Establishing Public Improvement District No. 21 — Las Vegas Trail (PUBLIC HEARING - a. Report of City Staff: Crystal Hinojosa; b. Public Comment; c. Council Action: Close Public Hearing and Act on M&C) RECOMMENDATION: It is recommended that the City Council: 1. Conduct public benefit hearing regarding the establishment of Public Improvement District No. 21 — Las Vegas Trail, including the sufficiency of the attached petition and the advisability of the improvements and services to be undertaken; 2. Find that the attached petition requesting establishment of Public Improvement District No. 21 - Las Vegas Trail meets the requirements necessary for the City Council to designate the proposed area as a Public Improvement District, pursuant to Chapter 372 of the Texas Local Government Code; 3. Adopt the attached Resolution: (i) making certain findings concerning the nature and advisability of special improvements and services to be provided for properties in the Public Improvement District No. 21 - Las Vegas Trail, the estimated costs of such improvements and services, the method of assessment, the boundaries of the Public Improvement District No. 21 - Las Vegas Trail, the apportionment of costs between the Public Improvement District No. 21 - Las Vegas Trail and the City, as a whole, and (ii) authorizing and establishing the Public Improvement District No. 21 - Las Vegas Trail; and 4. Direct the City Secretary to publish notice of the establishment of Public Improvement District No. 21 - Las Vegas Trail as required by Chapter 372 of the Texas Local Government Code. DISCUSSION: The purpose of this Mayor and Council Communication (M&C) is to conduct a public hearing on the establishment of Public Improvement District No. 21 — Las Vegas Trail (Las Vegas Trail PID). On June 2, 2021, city staff received a revised petition requesting establishment of the Las Vegas Trail PID, which is attached to this M&C. The revised petition has been examined, verified, and found by City staff to meet the requirements of Section 372 of the Texas Local Government Code (Code), to substantially comply with the City's policy for Operating Public Improvement Districts (Policy), and to be sufficient for consideration by the City Council. Specifically, the revised petition complies with Section 372.005 of the Code because it has been signed by record owners of taxable real property liable for assessment under this proposal who constitute: (a) 53.99% of the appraised value of taxable real property liable for assessment, as determined by the current roll of the Tarrant Appraisal District, and (b) 54.43% of the area of all taxable real property that is liable for assessment. The revised petition, which contains the signatures necessary to establish the Las Vegas Trail PID, is attached hereto and on file with the City Secretary. Proposed Boundaries: The Las Vegas Trail PID comprises approximately 839 acres of land generally consisting of the area bound by Highway 820 on the west, Interstate Highway 30 on the north, South Cherry Lane on the east, and certain parcels fronting or adjacent to the south side of Camp Bowie West Boulevard. A map and specific description of the boundaries are set forth in more detail in the attached resolution. Only those properties that are commercial, multi -family, or commercially zoned vacant properties will be subject to assessment. Multifamily property means any residential development with eight (8) or more dwelling units. A property within the proposed boundaries that is redeveloped into commercial or multi -family after the establishment of the Las Vegas Trail PID will automatically be subject to assessment in the City's fiscal year following such redevelopment. Nature of the Improvements and/or Services: The general nature of the proposed improvements and/or services to be provided within the Las Vegas Trail PID include the following: • Landscaping, promotional sign and banner programs, lighting, and various other streetscape and capital improvements, including streets, sidewalks, roadways, and rights -of -way; • Special supplemental services for improvement and promotion of the Las Vegas Trail PID, including services relating to advertising, promotion, health and sanitation, water and waste water, public safety, security, business recruitment, development, recreation, and cultural enhancements; • Payment of expenses incurred in the establishment, administration, and operation of the Las Vegas Trail PID; and • Any other improvements and services allowed pursuant to the Act. The following programs may be initiated to ensure that the proposed improvements are implemented: • Enhancing and promoting public safety by providing security services, and installing security cameras and lighting; • Funding services and offsetting overhead expenses associated with providing programs to increase community engagement and social service needs; and • Coordinating communication and cooperative programs to inform local business of current events and raise fund for certain projects Advisability of the Improvements and Services: It is advisable that the City exercise the powers granted by the Code in connection with the establishment of the Las Vegas Trail PID, including the undertaking of the improvements and services set forth above and in the petition because they will promote the interests of the City by conferring special benefits on the property within the Las Vegas Trail PID related to public safety, economic vitality, community enhancements, community engagement, and certain improvements related thereto, all of which are anticipated to contribute to, and create and maintain a sense of, individual and community pride within the Las Vegas Trail PID. Estimated Costs: The estimated costs of the proposed improvements and services to be provided in the Las Vegas Trail PID for Fiscal Year 2021-2022 is $289,761.00. The final budget will be subject to a budget and service and assessment plan to be considered by the City Council at a separate meeting in August or September of 2021. The estimated cost of proposed improvement and services to be provided in subsequent years will be subject to future annual budget and service plans adopted by the City Council. The actual cost of improvements and services will be determined in accordance with the approved budget and service and assessment plan to be adopted by the City Council and will be paid from Las Vegas Trail PID assessments. The proposed five-year budget and service and assessment plan is attached. Method of Assessment: The costs of the proposed improvements and services will be assessed against property in the Las Vegas Trail PID on the basis of special benefits accruing to such property because of the improvements and services. Taxable commercial, multi -family, and commercially zoned vacant properties within the Las Vegas Trail PID will be assessed annually for the improvements and services to be performed in the Las Vegas Trail PID according to the appraised value of the properties, as determined by the then current tax roll of the Tarrant Appraisal District. The amount of assessment for each such property within the Las Vegas Trail PID may be adjusted following the annual review of the service plan. The Las Vegas Trail PID's assessment will not exceed $.10 per each $100.00 of appraised valuation. Apportionment of Costs: The City will not be obligated to provide any funds to finance the proposed improvements and services, other than from assessments levied on property within the Las Vegas Trail PID. No City property will be assessed. The City may contribute to the Las Vegas Trail PID each year an amount equal to the costs that the City would have paid or incurred for the maintenance of any City owned property within the Las Vegas Trail PID for which the City provides maintenance. Additional participation, if any, by the City in the costs of the Las Vegas Trail PID will be at the discretion of the City Council. Upon adoption of the Resolution, the Las Vegas Trail PID will become effective on the date the City Council's authorization to establish the Las Vegas Trail PID has been published in a newspaper of general circulation and will remain in effect through September 30, 2029 or until earlier dissolved. Notice of this public hearing was published in the Fort Worth Star- Telegram and mailed to all owners of property on record and liable for assessment in the Las Vegas Trail PID on June 4, 2021, in accordance with the Code. The proposed PID 21 is located in COUNCIL DISTRICT 3. A Form 1295 is not required because: This M&C does not request approval of a contract with a business entity. FISCAL INFORMATION / CERTIFICATION: The Director of Finance certifies that approval of the above recommendations will have no material effect on City funds. Submitted for City Manager's Office by. Jay Chapa 5804 Originating Business Unit Head: Robert Sturns 2663 Additional Information Contact: Crystal Hinojosa 7808 Expedited