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HomeMy WebLinkAbout(0292) Resolution to Establish PID 21 (final).PDFA Resolution NO. AUTHORIZING AND ESTABLISHING FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO.21 (LAS VEGAS TRAIL) AND TAKING CERTAIN OTHER ACTIONS CONCERNING THE DISTRICT WHEREAS, the Public Improvement District Act, Chapter 372 of the Texas Local Government Code ("Act") allows for the establishment of public improvement districts ("PID"); WHEREAS, the City of Fort Worth, Texas ("City") received a petition, as revised, ("Petition") requesting the establishment of a PID on land within the City to be known as Fort Worth Public Improvement District No. 21 (Las Vegas Trail) and has been on file in the office of the City Secretary for public inspection; WHEREAS, pursuant to Section 372.009 of the Act, the City provided notice and publication of a public hearing to be conducted on June 22, 2021, to consider the establishment of the Las Vegas Trail PID ("Public Hearing"), which notice and publication included the following: (i) time and place of the public hearing; (ii) general nature of the proposed improvements and services; (iii) estimated costs of the improvements and services; (iv) boundaries of the proposed Las Vegas Trail PID; (v) proposed method of assessment; and (vi) proposed apportionment of costs between the Las Vegas Trail PID and the City; WHEREAS, notice of the Public Hearing was published on June 4, 2021 in the Fort Worth Star -Telegram, a newspaper of general circulation in the City, and was also mailed on June 4, 2021 to all record owners of property subject to assessment under the proposal set forth in the Petition for the Las Vegas Trail PID; and WHEREAS, on June 22, 2021, the City Council conducted a Public Hearing on the establishment of the Las Vegas Trail PID, following receipt of all public comments concerning the above -referenced matters and adopted this Resolution, making the findings set forth herein and authorizing and establishing the Las Vegas Trail PID. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS THAT: 1. Recitals. The findings set forth in the recitals of this Resolution are found to be true and correct. 2. Findings. The City Council, after duly considering the evidence and testimony presented at the Public Hearing and based on all information known by the City Council, hereby makes the following findings: 2.1. Petition. The Petition was filed with the City Secretary and complies with Section 372.005 of the Act and has been signed by record owners of taxable real property liable for assessment under the 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. 2.2 Advisability of the Improvements and Services. It is advisable that the City exercise the powers granted by the Act in connection with the establishment of the Las Vegas Trail PID, including undertaking the improvements and services set forth herein because they are intended to 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 engagement, community enhancement, 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. 2.3. Nature of the Improvements and Services. (a) The general nature of the proposed improvements and services to be provided in the Las Vegas Trail PID, include, without limitation, the following: i. Landscaping, promotional sign and banner programs, lighting, and various other streetscape and capital improvements, including streets, sidewalks, roadways, and rights -of -way. ii. Special supplemental services for improvement and promotion of the Las Vegas Trail PID, including services relating to advertising, promotion, health and sanitation, water and wastewater, public safety, security, business recruitment, development, recreation, and cultural enhancement. iii. Payment of expenses incurred in the establishment, administration, and operation of the Las Vegas Trail PID. iv. Any other improvements and services allowed pursuant to the Act. (b) The following programs may be initiated to ensure that the improvements and services are implemented: i. Public Safety A. Security patrols will be added to the Las Vegas Trail PID to increase public safety and allow for more support in high transit areas and at public and private events held throughout the Las Vegas Trail PID. B. Additional surveillance cameras will be installed in areas where high illegal activity may occur. C. Additional lighting will be installed in areas where the community has expressed a need to create a well -lit and safe walkable environment during evening hours. ii. Community Center Operations A. The community center within the Las Vegas Trail PID will be available for public use and will provide services that are intended to improve and promote the PID, including, without limitation, programs designed to increase community engagement and meet social service needs, including, without limitation, job training, after and out -of -school programing, educational pathway courses, and access to additional social service providers. Las Vegas Trail PID funding will help fund these services and offset the overhead expenses associated with providing the above -stated services, including, without limitation, staff wages, office supplies, maintenance fees, equipment, and utilities. iii. Community Enhancements A. A cooperative program with local governments, neighborhood groups, foundations, universities, and others to assist with obtaining grants or other special funding to undertake studies, historic preservation/restoration, landscape improvements, street improvements, signs and banners programs, and other streetscape amenities. B. Various enhancements to the Las Vegas Trail PID's main corridors, including, without limitation, landscaping, maintenance, and litter abatement. (c) The improvements and services will be a supplement to the standard level of improvements and services provided by the City. The City will furnish or pay for the standard level of improvements and services in the Las Vegas Trail PID comparable to what would be provided for the taxpayers generally. 2.4. Estimated Cost of the Improvements and Services. (a) For the 2021-2022 fiscal year, the estimated cost of the above - referenced improvements and services, and estimated costs to implement such improvements and services are: Management Fee $25,000.00 Public Safety $117,371.00 Community Center Operations $76,141.00 Community Enhancement $15,938.00 City Administration Fee $5,795.00 Contribution to Fund Balance $49,516.00 $289,761.00 (b) Such estimated costs are reasonable and appropriate. The costs of the improvements and services to be provided in the 2021-2022 fiscal year will be determined in a subsequent annual budget and service plan for the Las Vegas Trail PID to be approved by the City Council in August or September of 2021. The initial five (5)-year service plan proposed for the Las Vegas Trail PID is attached hereto as Exhibit A ("Service Plan") and incorporated herein for all purposes. (c) The estimated costs of improvements and services to be provided in subsequent fiscal years will be subject to future annual budget and service and assessment plans adopted by the City Council in accordance with the Act. The service plan, budget, and assessment rate are subject to annual review and approval by the City Council. The costs for all improvements and services will be paid in accordance with Section 2.7 of this Resolution. 2.5. Boundaries of the Las Vegas Trail PID. (a) The boundaries of the Las Vegas Trail PID include 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 Boulevard. A map depicting the boundaries, along with a specific written boundary description, are attached hereto as Exhibits B and C, respectively, and incorporated herein for all purposes. Such boundaries are appropriate and the proposed improvements and services provided to property within such boundaries will promote the interests of the City. The Las Vegas Trail PID's boundaries may be expanded in accordance with the Act. (b) Only those properties within the boundaries of the Las Vegas Trail PID that are commercial, multi -family, or vacant properties zoned as commercial will be subject to assessment. Multi -family means any residential development with eight (8) or more dwelling units. A property within the boundaries of the Las Vegas Trail PID 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. 2.6. Method of Assessment. The method of assessment is proposed to be as follows: (a) An annual budget and service and assessment plan will be presented to the City Council for review and approval prior to the beginning of each fiscal year for the term of the Las Vegas Trail PID in accordance with the Act. (b) The cost of each improvement and service provided during a fiscal year will be assessed against commercial, multi -family, and commercially - zoned vacant real property within the Las Vegas Trail PID on the basis of special benefits accruing to the property because of the improvements and services according to the value of such property, including the value of structures or other improvements on the property, as determined by the Tarrant Appraisal District. (c) All commercial, multi -family, and commercially -zoned vacant taxable properties in the Las Vegas Trail PID will be assessed equally and no annual assessment during the term of the Las Vegas Trail PID will exceed $0.10 per each $100 of the appraised value of real property, including the value of structures and other improvements located thereon, unless otherwise authorized by the Act. Tax-exempt and government - owned properties will not be assessed. In the event that changes to taxable status of property within the PID, either in whole or in part, occur that subsequently affect a property's assessment, then the property will be liable for the resulting assessment, if any. (d) Based on the improvements and services to be undertaken in the Las Vegas Trail PID, as outlined herein and in the service plan, the City Council hereby finds that the proposed method of assessment is reasonable and necessary. 2.7. Apportionment of Costs Between the Las Vegas Trail PID and the City, as a Whole. The apportionment of costs between the Las Vegas Trail PID and the City, as a whole, is as follows: (a) Except as set forth in subsection 2.7(b), the entire cost of each improvement and service will be paid from assessments levied in accordance with Chapter 372 of the Act (including any interest accrued thereon) and from other sources of funds, if any, available to the Las Vegas Trail PID. (b) No City funds will be used to pay any portion of the cost of any improvement or service, unless such funding is approved from the City Council or other appropriate municipal authority on a case -by -case basis. 3. Establishment of the PID; Term. 3.1 Based on the findings set forth above, the Las Vegas Trail PID comprising the boundaries set forth in Section 2.5 above is authorized to be established and will be known as Fort Worth Public Improvement District No. 21 (Las Vegas Trail). The Las Vegas Trail PID will take effect on the date on which the City Council's authorization to establish the Las Vegas Trail PID pursuant to and in accordance with this Resolution is published in a newspaper of general circulation in the City in accordance with Section 372.010(b) of the Act ("PID Effective Date") and will expire on the earlier of (i) September 30, 2029; (ii) the effective date of a resolution dissolving the Las Vegas Trail PID adopted by the City Council following receipt of a petition requesting dissolution and the holding of a public hearing to consider such dissolution in accordance with Section 372.011 of the Act; or (iii) any other lawful method provided for dissolution of a PID pursuant to the Act, as it may be amended. All other provisions of this Resolution will be effective from and after the adoption of this Resolution. 3.2 Notwithstanding anything to the contrary herein, the Las Vegas Trail PID will continue in effect until all obligations of indebtedness for all previously - authorized improvement projects and services in the PID have been fully satisfied and discharged. The Las Vegas Trail PID will be subject to all conditions, limitations, and reservations set forth in the findings in Section 2. 4. Advisory Body. The City Council hereby declines to appoint an advisory body for the Las Vegas Trail PID pursuant to Section 372.008 of the Act. The City Council hereby reserves the right to assign responsibility for preparation of the ongoing Service Plan for the Las Vegas Trail PID to another entity in the absence of such an advisory body, as authorized by Section 372.013(a) of the Act. 5. Restriction on Construction of Improvements. In accordance with Section 372.010(c) of the Act, actual construction of any improvement may not begin until after the twentieth (20th) day following the Las Vegas Trail PID Effective Date. 6. Publication. The City Secretary is hereby directed to publish notice of the City Council's authorization to establish the PID once in a newspaper of general circulation in the City. ADOPTED this 22nd day of June 2021. ATTEST: City Secretary EXHIBIT A SERVICE PLAN City of Fort Worth (Proposed) Five -Year Itemized Estimate of Revenues and Expenses Public Improvement District No. 21 Las Vegas Trail FY 21/22 FY 22/23 FY 23/24 FY 24125 FY 25/26 REVENUES PID Assessments $ 289,761 $ 298,454 $ 307,408 $ 316,630 $ 326,129 EXPENSES Management Fee $ 25,000 $ _ 25,500 $ 26,010 $ 26,530 $ 27,061 City Administrative Fee 5,795 5,969 6,148 6,333 6,523 Public Safety 117,371 138,651 141,347 146,073 150,447 Community Center Operations 76,141 98,490 101,445 104,488 107,623 Community Enhancement 15,938 28,400 30,741 31,663 32,613 Total Budgeted Expenses $ 240,245 $ 297,010 $ 305,691 $ 315,087 $ 324,267 Contribution to Fund Balance 49,516 1,444 1,717 1,543 1,862 Total Expenses $ 289,761 $ 298,454 $ 307,408 $ 316,630 $ 326,129 Net Change in Fund Balance $ 49,516 $ 1,444 $ 1,717 $ 1,543 $ 1,862 Estimated Fund Balance, Beginning of Year - 49,516 50,960 52,677 54,220 Estimated Fund Balance, End of Year 49,516 50,960 52,677 54,220 56,082 Reserve Requirement 49,512 50,959 52,525 54,055 54,055 Over (Under) Reserve $ 4 $ 1 152 $ 165 $ 2,027 *FY2022 Assessment Rate = $.10 EXHIBIT B BOUNDARY MAP 1 �...._ ............ i M� '�.. 1 �1 I ............ 1 • , A , t r+ - N 2020 Aerial Photography Initial Properties to be Assessed 0 500 1,000 Feet 1ON FOR L.,j LVT PID Boundary x, s.�R.. vi.��,�,aoro M.y..., wa�xza. zozo xoxesvoxs�e�.m.ox,xenccuxncr or sn�o oaa. EXHIBIT C BOUNDARY DESCRIPTION WHA = Western Hills Addition SEC III-VIII Specifically, the area is bounded on the west by SW Loop 820 at the south curb of Camp Bowie W. Blvd; south by southeast along the Williams, Jack Addition, Block 1, Lot 1R towards the northern Windrush Addition Block A, Lot 1 boundary line; east along the northern Windrush property line to Renzel Blvd; east along the southern boundary of Moore, L W Subdivision, Block C; north along the eastern boundary of Moore, L W Subdivision, Block C along the drainage culvert behind the cul-de-sac (Guadalupe Rd.); east along the rear property line (north of Guadalupe Rd. and Monmouth Dr.) of the commercial zoned parcels with frontage on Camp Bowie W. Blvd to the eastern boundary of Waverly Park Addition, Block 1, Lot A1B; north to the north curb of Camp Bowie W. Blvd; east to S. Cherry Ln.; North to the southern boundary of West Plaza Addition, Block 4, Lot D (a point at the rear property line of the parcels fronting Marydean Ave.); west along the same boundary towards Broadmoor Drive; northwesterly through Broadmoor at Western Hills Addition, Block 1, Lot 1 along the drainage path to Shenandoah Rd; north over and along Phoenix Drive to Calmont Ave.; east to Shenandoah Rd.; north to the southern boundary of the Covington, Hays Survey Abstract 256 Tract 9D08; east along the northern boundary of West Plaza Addition, Block 2, Lot A and CR to the eastern boundary; south to Calmont Ave.; west to Broadmoor Dr.; south on Broadmoor Dr. to the southern boundary of West Plaza Addition Block 4, Lot A1; east to the eastern property line of West Plaza Addition Block 4, Lot AR; North Along the eastern boundary of west plaza addition Block 4 Lot AR to the southern boundary of Covington, Hays survey Abstract 256 tract 9D7H; East along the same boundary to South Cherry Lane; North on South Cherry to Calmont Ave.; West along Calmont avenue to the eastern boundary of West Plaza Addition, Block 2, Lot F; north along the same boundary, following that boundary east, then north, then west, then back north, then west to the eastern boundary of West Plaza Addition Block 2, Lot E; then north along the same eastern boundary, then west along the northern boundary to the eastern boundary of West Plaza Addition Block 2, Lot B-1R1; then north along the same eastern boundary to the Southern boundary of West Plaza Addition Block 2 Lot B-1R3, then East along the southern boundary line to South Cherry Lane; North to the northern boundary of Covington, Hays Survey Abstract 256 tract 9D03, West along the northern boundaries of Covington Hays survey Abstract 256 tracts 9D03, 9D06, and 7A to the western boundary of Covington, Hays Abstract 256 tract 7A; then southwest to the northern boundary of Covington, Hays survey 256 tract 7P01, then west along the northern boundary to Laredo drive, then south on Laredo drive to Calmont Avenue, East on Calmont avenue to the eastern boundary of WHA block 35R Lot 1R Westwind Park; then south along the eastern boundary to Mojave trail, then West on Mojave trail to Laredo Drive, then north on Laredo Drive to the southern boundary of WHA Block 36 Lot 10R, then north along the western boundary to Calmont Avenue; East on Calmont to Laredo Drive, then north on Laredo Drive to the northern boundary of WHA Block 96 Lot 2AR; West from West Fwy. Service Road East Bound to the eastern property line of WHA block 96 Lot 3; south across the eastern boundary, west along the southern boundary line, North along the western boundary line, West along the northern boundary of WHA block 72 Lot I and 2B, South along the western boundary line of WHA block 72 lot 2B, West along the northern boundary line of Covington, Hays survey abstract 256 tract 6L01 to Calmont avenue, north on Calmont to the northeast boundary of Lesok Addition block 1 Lot 1 A; South across the western boundaries of Lesok Addition, Block 1, Lots IA and 1B and Covington, Hays Survey Abstract 256 tract 4B03; South along the western boundary of Covington, Hays Survey abstract 256 tract 4B03, east along the southern border of Covington, Hays Survey abstract 256 tracts 4B03 and 6L01, South on the western boundary of WHA block 71 lot 2A1 through and along to Calmont Ave; west on Calmont Ave. to the western boundary of WHA Block 70, Lot 1; south along the same boundary; then west on the southern boundary of WHA Block 70, Lot 2R; south along the eastern boundary and west along the southern boundary of WHA Block 70, Lot 3RA ; South on the southeast boundary of WHA block 75 Lot AR1 to North Normandale Street, Northwest along Normandale Street to Dale Lane, north on Dale Ln. to West Freeway Service Rd. South EB/West Freeway Service Rd. South looping northwest to southeast to the southern property boundary of WHA Block 85, Lot DR and then following the southern property boundary to N. Normandale St.; northeast on N. Normandale St. to the eastern boundary of WHA Block 78R1 Lot Al; then south along the eastern boundary, then west along the northern boundary of WHA block 80 Lot AR; north on W. Normandale St. to the northern boundary of Saturn of Fort Worth Addition, Block 1, Lot 1R-1; west along the same northern boundary to West Loop 820 Service Road South; South along West Loop 820 Service Road South to the southern boundary of WHA Block 86, Lot 3; east along the same southern boundary to W. Normandale St.; southeast on W. Normandale to and including WHA Block 86, Lot 7RB; south on W. Normandale St. to the northern boundary of WHA Block 86 Lot 8, and west on same boundary to the northern boundary of WHA Block 86 Lot 5R1; west on same boundary to the western boundary and south to Camp Bowie W., then east to N. Normandale St, including WHA Block 86 Lot 5RA. North on W. Normandale St. from Camp Bowie W. to S. Normandale St.; east on S. Normandale St. to the eastern boundary of WHA Block 88, Lot 4R; south along the same eastern boundary to the southern boundary of WHA Block 88, Lot 3BR1, then east along the same southern boundary, crossing Portales Dr., to the eastern boundary of WHA Block 89, Lot 2R; then north along the same eastern boundary to the northern boundary of WHA Block 89, Lot 2R1; then east along the same boundary; then south along the same boundary; then west along the same boundary to Portales Dr.; continue west along the northern boundaries of WHA Block 88, Lots 1R1, 1R2, 2BR, 1BR, 1F, lE, and 1C to the western boundary of WHA Block 88, Lot 1C; then south along the same boundary to Camp Bowie W Blvd; west along the south curb of Camp Bowie W Blvd to W. Loop 820 S. • This boundary description excludes WHA Block 92, Lot 1 and Block 93, Lot 1.