HomeMy WebLinkAboutOrdinance 25080-09-2021 Ordinance No 25080-09-2021
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE FISCAL YEAR 2021-2022 FORT WORTH PUBLIC
IMPROVEMENT DISTRICT 7—HERITAGE FUND IN THE AMOUNT OF
$2,406,258.00,OF WHICH $1,962,924.00 IS FROM AVAILABLE FUNDS, AND
$443,334.00 IS FROM REDUCING FUND BALANCE, FOR THE PURPOSE OF
PROVIDING IMPROVEMENTS AND SERVICES TO THE PUBLIC
IMPROVEMENT DISTRICT 7-HERITAGE; 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 7—Heritage Fund in the amount of$2,406,334.00
of which: (1)$1,962,924.00 is from available funds and(2)$443,334.00 is from reducing the fund balance
by the same amount,for the purpose providing improvements and services to the Public Improvement District
7-Heritage during Fiscal Year 2021-2022.
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 1, 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instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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
Assistant City Attorney Ronald P. Gonzales �F FORT
Acting City Secretary A, >: �� h
ADOPTED AND EFFECTIVE: September 21, 2021
�xas'
City of Fort Worth
Five Year Service Plan FY22-FY26
Public Improvement District No.7-Heritage
FY21/22 FY22123 FY23/24 FY24/25 FY25/26
REVENUES
PID Assessments $ 1,771,828 $ 1.807,265 $ 1,843,410 $ 1,880,278 $ 1,917.884
COFW Payment in lieu of Services 191,096 191.096 191,096 191,096 191,096
Total Budgeted Revenues $ 1,962,924 $ 1,998,361 $ 2,034,506 $ 2,071,374 $ 2,108,980
Use of Fund Balance 443,334 127,607 60,184 81,053 78,200
Total Funds Available for Use $ 2,406,258 $ 2,125,967 $ 2,094,690 $ 2,152,427 $ 2,187,180
EXPENSES
Management Fee $ 144,000 $ 145,000 $ 147,000 $ 148,000 $ 150,000
Utilities 250,000 253,000 256,000 259,000 262,000
Landscapinglfree Maintenance 1,000,000 1,030,000 1,048,000 1,081,000 1,090,000
Common Area Maintenance 505,000 200,000 220,000 240,000 260.000
Holiday Lighting 35,000 50,000 50,000 50,000 50,000
Security Enhancements 70,000 70,000 70,000 70,000 70,000
Advertising 500 500 500 500 500
Public Events 160,000 160,000 160,000 160,000 160,000
Capital Improvements 200,000 175,000 100,000 100,000 100,000
Insurance - - - - -
Annual Review 2,500 2,500 2,500 2,500 2,500
City Administrative Fee 39,258 39,967 40,690 41,427 42,180
Total Budgeted Expenses $ 2,406,258 $ 2,125,967 $ 2,094,690 $ 2,152,427 $ 2,187,180
Net Change in Fund Balance $ (443,334) $ (127,607) $ (60,184) $ (81,053) $ (78,200)
Fund Balance,Beginning of Year(Estimated Yrs 2-5) 1,159,557 716,223 588,616 528,432 447,378
Estimated Fund Balance,End of Year 716.223 588,616 528,432 447,378 369,178
Reserve Requirement 354,399 349,185 358,810 364,603 364,603
Over(Under)Reserve $ 361,824 $ 239,431 $ 169,622 $ 82,776 $ 4,576
'FY2022 Assessment Rate=$.160 Residential/$.110 Commercial
FRI MY AMUST 112021 FORT WORTH STAR TELEGRAM sI I 9A
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City of Fort Worth, Texas
Mayor and Council Communication
DATE: 09/21/21 M&C FILE NUMBER: M&C 21-0702
LOG NAME: 17ED PID07FY22
SUBJECT
(CD 4 and CD 7) Conduct Public Benefit Hearing for Fort Worth Public Improvement District 7-Heritage;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$0.16 Per Each$100.00 of Residential Property Value and$0.11 Per Each
$100.00 of Commercial Property Value;Authorize Execution of Agreement with FirstService Residential Texas PID, LLC,in the Amount of
$144,000.00 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 7-Heritage(Heritage 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$2,406,258.00,five-year
service plan,assessment plan,and tax year 2021 assessment roll(on file with the City Secretary)for the Heritage PID;and(2)levying
special assessments on privately-owned property located in the Heritage PID for the 2021 tax year at the rates of$0.16 per each$100.00 of
residential property value and$0.11 per each$100.00 of commercial 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 FirstService Residential Texas PID, LLC, in the amount of$144,000.00 to provide
management of the improvements and services for the Heritage PID during Fiscal Year 2021-2022;and
5. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District
7-Heritage Fund in the amount of$2,406,334.00 of which: (1)$1,962,924.00 is from available funds and (2)$443,334.00 is from reducing
the fund balance by the same amount.
DISCUSSION:
On September 26,2000,the City Council adopted Resolution No.2675 establishing Fort Worth Public Improvement District No.7-Heritage
(Heritage 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 Heritage PID and the proposed assessments to be levied on each privately-owned property in the Heritage 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 Heritage PID during the Fiscal Year 2021-2022 and the costs thereof are as follows:
Fiscal Year 2022 Budget
Improvements Total Budgeted Cost
Management Fee ( $ 144,000.00
Utilities $250,000.00
Landscaping/Tree Maintenance $ 1,000,000.00
Common Area Maintenance $505,000.00';
Holiday Lighting -_ $_35,000.00
Security Enhancements $70,000.00
Advertising $500.00
Public Events j $ 160,000.00
Capital Improvements IL $200,000.00
Annual Review $2,500.001
City Administrative Fee { $39,258.00
Total Expense $2,406,258.001
The total budgeted costs of the improvements are in the amount of$2,406,258.00.Of this amount,$1,771,828.00 will be funded by assessments
collected on privately owned parcels located in the Heritage PID by applying a rate of$0.16 per each$100.00 of property value for residential
property and$0.11 per each$100.00 of property value for commercial property.The remainder of the costs in the amount of$634,430.00 will be
funded by other revenue sources including: (a)$191,096.00 in direct payments from the City for Payment In-Lieu of Services(b)$443,334.00
transferred from the unaudited, unassigned fund balance.
For Fiscal Year 2020-2021 (tax year 2020) PID 7 levied an assessment of$0.17 per$100.00 of residential property value and$0.11 per each
$100.00 of commercial property value.The Heritage PID experienced growth in net taxable value equal to$72,917.00,or 4%, and have a
projected fund balance over their reserves in the amount of$361,825.00 allowing for the assessment rate to be reduced by$0.01.Thus the
recommended Fiscal Year 2021-2022(tax year 2021)assessment rate is$0.16 per$100.00 of residential 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 Heritage PID. Notice of the September 14th,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 Heritage PID on August 27,2021,in accordance
with state law.
The Heritage PID is located in COUNCIL DISTRICTS 4&7.
FISCAL INFORMATION I 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#7-Heritage 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 by: Jay Chapa 5804
Originating Business Unit Head: Robert Sturns 2663
Additional Information Contact: Crystal Hinojosa 7808
Expedited