HomeMy WebLinkAbout(0139) M&C 21-0632City of Fort Worth, Texas
Mayor and Council Communication
DATE: 09/14/21 M&C FILE NUMBER: M&C 21-0632
LOG NAME: 17ED PID11 FY22 BENEFIT
SUBJECT
(CD 2) Conduct Public Benefit Hearing Regarding the Proposed Fiscal Year 2021-2022 Budget, Five -Year Service Plan, and 2021 Assessment
for Fort Worth Public Improvement District No. 11, Stockyards, Approve the Filing of the Proposed 2021 Assessment Roll for the Stockyards PID
with the City Secretary's Office, and Set Public Benefit Hearing
(PUBLIC HEARING - a. Report of City Staff: Crystal Hinojosa; b. Public Comment; c. Council Action: Close Public Hearing and Act on the M&C)
RECOMMENDATION:
It is recommended that the City Council:
1. Conduct a public benefit hearing to receive comments on the proposed budget, Five -Year Service Plan, and 2021 Assessment for Fort
Worth Public Improvement District No. 11, Stockyards, for Fiscal Year 2021-2022;
2. Approve the filing of the proposed 2021 Assessment Roll for Fort Worth Public Improvement District No. 11, Stockyards, with the City
Secretary, which has been available for public inspection for more than ten days prior to the date of this hearing; and
3. Set a public benefit hearing for September 21, 2021, at 7:00 p.m., for final approval of the Fort Worth Public Improvement District No. 11,
Stockyards, Fiscal Year 2021-2022 Budget, Five -Year Service Plan, and 2021 Assessment.
DISCUSSION:
On February 25, 2003, the Mayor and City Council adopted Resolution No. 2925 establishing Fort Worth Public Improvement District No. 11,
Stockyards (Stockyards PID). State law requires an annual report on the proposed budget and Five -Year Service Plan for the Stockyards PID,
which is attached. The general nature of the improvements and/or services to be provided in the Stockyards PID include:
• A Maintenance Program consisting of supplemental street sweeping, sidewalk sweeping, sidewalk cleaning, and trash receptacle pick up;
• Capital improvements —Installation of signs on Exchange;
• A Marketing Program consisting of advertising, web -site design and development, marketing public events, and management of a signage
program; and
• A Management Program to provide for administration, management, and operation of the Stockyards PID.
On December 15, 2020, the City Council adopted a Revised Policy for Operating Public Improvement Districts (Resolution 5312-12-2020), which
sets forth the City's administrative fee structure for all PIDs. The City's administrative fee is set at the greater of: (1) two percent (2%) of the
projected externally generated revenue for that year, to include special assessments and any City contributions; or (2) $2,000.00.
The proposed 2021 assessment rate on property subject to assessment in the PID is $0.12 per each $100.00 of valuation. Subsequent actions
will formally establish the Assessment Rate and the corresponding budget for Fiscal Year 2022. The proposed 2021 Assessment Roll for the
Stockyards PID has been on file with the City Secretary and available for public inspection during normal business hours.
The Stockyards PID is located in COUNCIL DISTRICT 2.
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 these recommendations will have no material effect on City funds.
Submitted for City Manager's Office by. Jay Chapa 5804
Originating Business Unit Head:
Additional Information Contact:
Robert Sturns 2663
Crystal Hinojosa 7808
Expedited