HomeMy WebLinkAbout(0085) M&C 21-0702City of Fort Worth,
Mayor and
DATE: 09/21 /21
Texas
Council Communication
LOG NAME: 17ED PID07FY22
SUBJECT
M&C FILE NUMBER: M&C 21-0702
(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
I Total Budgeted Cost
Management Fee 11
$ 144,000.00
Utilities
$ 250,000.00
Landscaping/Tree Maintenance
$ 1,000,000.00
Common Area Maintenance
$ 505,000.00
Holiday Lighting
I$ 35,000.00
Security Enhancements 11$
70,000.00
Advertising 11$
500.00
Public Events
$ 160,000.00
Capital Improvements
$ 200,000.00
Annual Review 11
$ 2,500.00
City Administrative Fee 11$
39,258.00
Total Expense 11
$ 2,406,258.00
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 / 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