HomeMy WebLinkAboutOrdinance 20557-01-2013Ordinance No. 20557-01-2013
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE SPECIAL TRUST FUND IN THE AMOUNT OF
$255,961.00, FROM AVAILABLE Ft.TNDS, FOR THE PtYRPOSE OF FUNDING
POSITIONS IN THE HOUSING AND ECONOMIC DEVELOPM ENF DEPARTMENT
RELATED TO ADMINISTRATION OF TAX INCREMENT REINVESTMEN'I'ZONES
AND FORT WORTH LOCAL DEVELOPMENT CORPORATION; PROVIDING FOR
A SEVERABILITY CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF
PRIOR ORDINANCES; REPEALING ALL ORDINANCES IN CONFLICT
HEREWITH; AND PROVIDING AN EFFECTIVE DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS:
SECTION 1.
That in addition to those amounts allocated to the various City departments for Fiscal Year 2012-2013 in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the
Special Trust Fund in the amount of $255,961.00, from available funds, for the purpose of funding positions
in the Housing and Econornic Development Department related to administration of Tax Increment
Reinvestment Zones and the Foil Worth Local Development Corporation.
SECTION 2.
That should any portion, section or part of a section of' this ordinance be declared invalid, inoperative or
void for any reason by a court of competent jurisdiction, such decision, opinion or judgment shall in no way
impair the remaining portions, sections, or pails of sections of this ordinance, which said remaining
provisions shall be and remain in full force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance No. 20411-09-2012 and all other ordinances and
appropriations amending the same except in those instances where the provisions of this ordinance are in
direct conflict with such other ordinances and appropriations, in which instance said conflicting provisions
of said prior ordinances and appropriations are hereby expressly repealed.
SECTION 4
This ordinance shall take effect upon adoption.
APPROVED AS TO FORM AND LEGALITY:
—�Gistant C yy Attorney""
ADOPTED AND EFFECTIVE: January 8, 2013
�
K"itK���« Fort Worth, Texas
Mayor and Council Communication
on
COUNCIL _ - [_ Approved on ^ [- Ordinance No.
DATE: Tuesday, January O8.2013
SUBJECT: LOG NAME: 17TIFADMINFY13
Authorize Transfer of Funds in the Amount of $229,961.00 from Various Tax Increment Financing
Reinvestment Zones and Accept Funds in the Amount nf$20.00O.0O from the Fort Worth Local
Development Corporation into @ Special Trust Fund for Fiscal Year 2O12-2O13 Administration bythe
Housing and Economic Development Department and Adopt Appropriation Ordinance (ALL COUNCIL
DISTRICTS)
RECOMMENDATION:
|tiS recommended that the City Council:
1. Transfer iO the amount Cf $229'SO1.00 from Tax Increment Reinvestment Zones No. 7- North Tarrant
Parkway, NO. 8 - Lancaster and NO. 12 - East Berry Renaissance to the Special Trust Fund for the
purpose of funding positions in the Housing and Economic Development Department related to the
administration of Tax Increment Reinvestment Zones;
2. Accept the amount Of$20.00O.00 from the Fort Worth Local Development Corporation k} the Special
Trust Fund for the purpose [f funding positions inthe Housing and Economic Development Department
related to the administration of the Fort Worth Local Development Corporation; and
3. Adopt the attached appropriation ordinance increasing the estimated receipts and appropriations inthn
Special Trust Fund in the amount of $255,961.00 from available funds for the purpose of funding positions
in the Housing and Economic Development Department related to administration of Tax Increment
Reinvestment Zones and the Fort Worth Local Development Corporation.
DISCUSSION:
As the need for administration of the City's Tax Increment Reinvestment (TIF) Zones and the Fort Worth
Local Development Corporation (LC>C) has grown, Staff was directed k} pursue additional funding sources
to meet the need.
For Fiscal Year 2013, positions in the Housing and ECOnO0niC D8v8|Opnn8nt Department relating to the
administration nfT|F districts will be partially funded by a five percent (or less) set-aside Of the tax
increment generated by the North Tarrant Parkway, Lancaster and East Berry Renaissance 7-|F districts,
capped at the amount of$22S.9O1.00. |D addition, the amount Of $20.00O.00nfL[)C revenues will be
used to fund positions in the Department relating to administration of the LDC.
All other administrative steps to obtain this funding have been accomplished as follows:
August 6, 2012 - The Lancaster TIF Board of Directors approved a five percent increment transfer in the
amount of $136.O95.00 for T|F administration expenses.
Lugnmoc: 17TIFAI]MDQFY13 Page lOf 2
September 27, 2012 - The East Berry Renaissance T|F Board of Directors approved a4.8percent
increment transfer in the amount of $6,310.00 for TI F administration expenses.
October 2, 2012 - The LDC Board approved a transfer in the amount of $26,000.00 for administration
expenses.
October 31, 2012 - The North Tarrant Parkway TIF Board of Directors approved a 4.8 percent increment
transfer iO the amount Of$O7.550.0O for T|F administration expenses.
The attached appropriation ordinance will increase estimated receipts and appropriations to the Special
Trust Fund iO the amount Of$255.001.00i0 ensure that funds are available for the administration OfT|F
districts and the [[)Cfo[ FiSC8| Year 2013.
CERTIFICATION: FISCAL INFORMATION /
The Financial Management Services Director certifies that upon approval of the above recommendations
and adoption Ofthe attached appropriations ordinance, funds will be available in the current capital
budget, 8s appropriated, Uf the Special Trust Fund.
CENTERS: FUND
TO Fu nd/Accou nt/C enters
FE72 461813 017587001000
FE72 461813 017587001000
FE72 511010 017587001000
FROM Fund/Account/Centers
$26,000.00 R152 539120 0171000
$229,961.00 GS87 539120 002707004000
$255,961.00 GS87 539120 002712006000
Submifted for Ci!y Manager's Office by:
Originating Department Head:
Additional Information Contact:
GS87 539120 002708005000
Fernando Costa (6122)
Jay Chapa (5804)
Marguerite Allen /2235\
Henry Day (0370)
$26,000.00
$87�56.00
$136,005.00
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