HomeMy WebLinkAboutOrdinance 25076-09-2021 ORDINANCE NO. 25076-09-2021
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE FISCAL YEAR 2021-2022 FORT WORTH PUBLIC
IMPROVEMENT DISTRICT 1—DOWNTOWN FUND IN THE AMOUNT OF
$3,225,658.00, OF WHICH $3,165,130.00 IS FROM AVAILABLE FUNDS, AND
$60,528.00 IS FROM REDUCING FUND BALANCE, FOR THE PURPOSE OF
PROVIDING IMPROVEMENTS AND SERVICES TO PUBLIC IMPROVEMENT
DISTRICT 1 - DOWNTOWN; 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 2021-2022 in the
Budget of the City Manager,there shall also be increased estimated receipts and appropriations in the Fiscal
Year 2021-2022 Fort Worth Public Improvement District 1—Downtown Fund in the amount of$3,225,68.00,
of which$3,165.130.00 is from available funds and$60,528.00 is from reducing the fund balance by the same
amount,for the purpose of providing improvements and services to Public Improvement District 1-Downtown
during Fiscal Year 202I-2022.
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 parts 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 incorporated into the ordinance effecting the budget of the municipal government
of the City of Fort Worth for the ensuing Fiscal Year beginning October I,2021, and ending September 30,
2022, 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instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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: CITY SECRETARY
��U)a&41� ?"'P C�"
Assistant City Attorney Ronald P. Gonzales F Fo
Acting City Secret ��o' RT '?t
ADOPTED AND EFFECTIVE: September 21,202I
�XAS r
FORT WORTH City of Fort Worth um
Five Year Service Plan FY 21-22 -FY25-26
Public Improvement District No.1 -Fort Worth MUD
FIVE YEAR SERVICE PLAN
FY21122 FY22/23 FY23/24 FY24125 FY25/26
REVENUES
PID Assessments* $2,554,208 $ 2,685,660 $2,775,630 $2,831,143 $2,887,766
COFW Assessment 295,395 295,395 295,395 295,395 295,395
COFW Payment in lieu of Services 161,755 165,000 168,300 171,666 175,099
PID Generated Revenue 153,772 155,000 155,000 155,000 155,000
Total Budgeted Revenues $3,165,130 $ 3,295,780 $3,389,050 $3,447,929 $3,507,985
Use of Fund Balance 60,528 - - - -
Total Revenues $3,225,658 $ 3,295,780 $3,389,050 $3,447,929 $3,507,985
EXPENSES
Management Fee $ 464,650 $ 465,000 $ 465,000 $ 470,000 $ 475,000
Utilities 11,500 12,000 13,000 14,000 15,000
Landscaping 90,000 90,000 90,000 100,000 125,000
Maintenance&Operations 1,257,805 1,260,000 1,235,000 1,250,404 1,231,404
Tree Lights 40,000 20,000 30,000 20,000 45,000
Security 10,700 10,700 11,981 12,220 12,220
Ambassador Program 685,000 690,000 695,000 700,000 724,200
Newsletter 12,500 12,500 12,500 12,500 12,500
Marketing&Research 401,200 405,000 410,000 415,000 445,253
Transportation&Planning 186,500 190,000 165,000 168,300 171,666
City Audit 2,500 2,500 2,500 2,500 2,500
City Administrative Fee 63,303 65,916 67,781 68,959 70,160
Total Budgeted Expenses $3,225,658 $ 3,223,616 $3,197,762 $3,233,883 $3,329,903
Contribution to Fund Balance $ - $ 72,164 $ 191,288 $ 214,046 $ 178,082
Total Expense $3,225,658 $ 3,295,780 $3,389,050 $3,447,929 $3,507,985
Net Change in Fund Balance $ (60,528) $ 72,164 $ 191,288 $ 214,046 $ 178,082
Fund Balance,Beginning of Year(Estimated Yrs 2-5) 345,622 285,094 357,258 548,546 762,592
Estimated Fund Balance,End of Year 285,094 357,258 548,546 762,592 940,674
Reserve Requirement 537,377 533,067 539,088 555,095 555,095
Over(Under)Reserve $ (252,283) $ (175,809) $ 9,458 $ 207,497 $ 385,579
*FY2022 Assessment Rate=$.115
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City of Fort Worth, Texas
Mayor and Council Communication
DATE: 09/21/21 M&C FILE NUMBER: M&C 21-0700
LOG NAME: 17ED PID01 FY22
SUBJECT
(CD 9) Conduct Public Benefit Hearing for Fort Worth Public Improvement District 1 —Downtown;Adopt the Attached Ordinance (1)Approving
and Adopting the Fiscal Year 2021-2022 Budget, Five-Year Service Plan,Assessment Plan, and Tax Year 2021 Assessment Roll,and(2)Levying
Special Assessments for the 2021 Tax Year at a Rate of$0.115 Per Each$100.00 of Property Value;Authorize Execution of an Agreement with
Downtown Fort Worth, Inc., in the Amount of$464,650.00 to Manage the Public Improvement District; and Adopt Attached Appropriation
Ordinance
(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 a public benefit hearing concerning the proposed special assessments on the property located in Fort Worth Public Improvement
District 1 -Downtown(Downtown PID)for the 2021 tax year;
2. Adopt the attached ordinance(1)approving and adopting the fiscal year 2021-2022 budget in the amount of$3,225,658.00,five-year
service plan,assessment plan,and tax year 2021 assessment roll(on file with the City Secretary)for the Downtown PID;and(2)levying
special assessments on privately-owned property located in the Downtown PID for the 2021 tax year at a rate of$0.115 per each$100.00 of
property value(SAP and Assessment Ordinance);
3. Direct the City Secretary to record a copy of the SAP and Assessment Ordinance in the real property records of Tarrant County,Texas no
later than the seventh(7th)day after adoption by the City Council;
4. Authorize the execution of an agreement with Downtown Fort Worth, Inc.in the amount of$464,650.00 to provide management of the
improvements and services for the Downtown PID during fiscal year 2021-2022;
5. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District
1 -Downtown Fund in the amount of$3,225,658.00,of which(1)$3,165,130.00 is from available funds;and (2)$60,528.00 is from reducing
the fund balance by the same amount.
DISCUSSION:
On June 23,2009,the Mayor and City Council adopted Resolution No.3756-06-2009 re-establishing Fort Worth Public Improvement District 1 -
Downtown(Downtown PID)
The purpose of this benefit hearing is to receive comments from the public regarding the Fiscal Year 2021-2022 budget and five-year service plan
for the Downtown PID and the proposed assessments to be levied on each property in the Downtown PID for the 2021 tax year. Following the
public hearing, it is recommended that the City Council take the following actions: adopt the attached ordinances(1)approving and adopting the
budget,five-year service plan,assessment plan,and assessment roll; (2)levying the proposed assessments;and(3)appropriating funds.
The improvements and services to be provided in the Downtown PID during the Fiscal Year 2022 and the costs thereof are as follows:
Fiscal Year 2022 Budget
Im p ro v e m e:n:tis::::::��j Total Budgeted Cost
Management Fee $464,650.00
Utilities $ 11,500.00';
Landscaping ( $90,000.00ii
Maintenance&Operations J $ 1,257,805.00!
Tree Lights.. - ........ -- —---.._.._..................—� $40,000.00
Security $ 10,700.00
Ambassador Program $685,000.00
Newsletter $ 12,500.00'
Marketing& Research $401,200.00�
Transportation&Planning $ 186,500.00
City Audit ( $2,500.00
City Administrative Fee $63,303.00
IlTotal Expense !L _ _ $3,225,658.00I
The total budgeted costs of the improvements and services are$3,225,658.00. Of this amount,$2,554,208.00 will be funded by assessments
collected on privately-owned parcels located in the Downtown PID by applying a rate of$0.115.The remainder of the costs in the amount of
$610,922.00 will be funded by other revenue sources including: (a)$295,395.00 in direct payments from the City for Payment In-Lieu of
Assessments,which are calculated at the same rate as the privately-owned parcels,(b)$161,755.00 in direct payments from the City for Payment
In-Lieu of Services, (c)$153,772.00 in revenues generated by Downtown PID activities, and (d)$60,528.00 transferred from the unaudited,
unassigned fund balance.
For Fiscal Year 2020-2021 (tax year 2020)the Downtown PID levied an assessment of$0.105 per$100.00 of property value.The PID net taxable
value declined$211,936.00, or 8.10%, requiring the assessment rate to be increased by$0.01 to maintain current levels of service.The
Downtown PID has also experienced a shortfall in projected budgeted revenue during the past five-years due primarily to the number of properties
still under protest at the Appraisal Review Board (ARB)when budgets were approved.This has caused the Downtown PID's reserve levels to fall
below the City's targets. City staff has included an assumed collection rate of 3%in the levy calculation to more accurately estimate projected
revenues. This change effectively reduces projected revenues to accommodate for the levy variances due to protests at the appraisal district.
Therefore,the recommended Fiscal Year 2021-2022(tax year 2021)assessment rate is$0.115 per$100.00 of taxable property value.
On September 14,2021,the City Council conducted a public hearing to receive comments on the proposed 2021-2022 Fiscal Year budget,five-
year service plan,and 2021 assessments for the Downtown PID. Notice of the September 14,2021, benefit hearing and this hearing were
published in the Fort Worth Star-Telegram and mailed to all owners of property on record in the Downtown PID on August 27th,2021 in
accordance with state law.The Downtown PID advisory board recommended approval of the budget.
The Downtown PID is located in COUNCIL DISTRICT 9.
FISCAL INFORMATION t CERTIFICATION:
The Director of Finance certifies that upon approval of the above recommendations and the adoption of the Fiscal Year 2021-2022 Budget by the
City Council,funds will be available in the Fiscal Year 2022 operating budget,as appropriated,of the FWPID#1 -Downtown Fund. Prior to any
expenditure being incurred,the Financial Management Services Department has the responsibility to validate the availability of funds.
Submitted for City Manager's Office b . Jay Chapa 5804
Originating Business Unit Head: Robert Sturns 2663
Additional Information Contact: Crystal Hinojosa 7808
Expedited