The URL can be used to link to this page

Home My WebLink AboutOrdinance 25429-04-2022 ORDINANCE NO.25429-04-2022 AN ORDINANCE AMENDING THE FISCAL YEAR 2021-2022 BUDGET AND FIVE- YEAR SERVICE PLAN FOR PUBLIC IMPROVEMENT DISTRICT NO. 6 — PARK GLEN; MAKING THIS ORDINANCE CUMULATIVE OF ALL OTHER ORDINANCES; PROVIDING FOR A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Public Improvement District Assessment Act, Chapter 372 of the Texas Local Government Code("Act"),allows for the creation of public improvement districts; WHEREAS, on September 22, 1998, the City Council of the City of Fort Worth ("City Council") authorized the establishment of Public Improvement District No. 6 — Park Glen ("District"), as a public improvement district in accordance with the Act and Resolution No. 2453. WHEREAS, on September 21, 2021, the City Council adopted Ordinance No. 25077-09-2021, approving the fiscal year 2021-2022 budget, five-year service plan, assessment plan, and tax year 2021 assessment roll for the District; WHEREAS,the City Council desires to amend the fiscal year 2021-2022 budget and five-year service plan("Amended Service Plan'),which is attached hereto as Exhibit A and incorporated herein for all purposes; WHEREAS,the Amended Service Plan is intended to supersede the Service Plan set out in Ordinance No.25077-09-2021; and WHEREAS, the Amended Service Plan will not affect the previously adopted Assessment Plan or Assessment Roll. NOW,THEREFORE,BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,TEXAS THAT: SECTION 1. The Recitals and findings listed above are true and correct and form the basis upon which this Ordinance is being adopted and are incorporated herein by reference. SECTION 2. The City Council hereby approves and adopts the Amended Service Plan for fiscal year 2021-2022. In doing so,the City Council finds that the supplemental services and improvements set forth in the Service Plan are feasible and advisable and will serve the needs and desires of the property owners in the District. SECTION 3. 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 shall remain in full force and effect. Ordinance No.25429-04-2022 Page 1 of 3 SECTION 4. This Ordinance is cumulative of 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 5. The City Secretary is directed to cause a copy of this Ordinance to be recorded in the real property records of Tarrant County,Texas no later than the seventh(7�)day after the adopted date of this Ordinance. SECTION 6. This Ordinance takes effect and will be in full force and effect from and after the date of its passage. AND IT IS SO ORDAINED. APPROVED AS TO FORM ATTEST: AND LEGALITY: Jannette S.Goodall(Apr 15,202213:33 CDT) Tyler F.Wallach,Assistant City Attorney Jannette Goodall,City Secretary M&C: 22-0247 :�.... ��F• FORT�� Adopted and Effective:April 12,2022 `J.' ••;(�� XAS. Ordinance No. Page 2 of 3 EXHIBIT A AMENDED SERVICE PLAN City of Fort Worth Five Year Service Plan FY22(Mid-Year) Public Improvement District No.6-Park Glen FY21/22 FY22/23 FY23/24 FY24/25 FY26/26 REVENUES PIDAssessments` $ 1,718,368 $ 1,646,969 $ 1,679,908 $ 1,713,508 $ 1,747,778 COFW Payment in lieu of Services 199,556 199,556 199,556 199,556 199,556 Total Budgeted Revenues $ 1,917,924 $ 1,846,525 $ 1,879,464 $ 1,913,064 $ 1,947,334 Use of Fund Balance 343,564 - - - - Total Funds Available for Use $ 2,261,488 $ 1,846,525 $ 1,879,464 $ 1,913,064 $ 1,947,334 EXPENSES Management Fee $ 136,041 $ 136,041 $ 136,041 $ 136,041 $ 136,041 Utilities 160,000 160,000 160,000 161,000 162,000 Landscaping 920,475 750,000 700,000 780,000 780,000 Common Area Maintenance 459,889 238,453 205,734 322,662 323,246 Holiday Decoration 23,000 23,000 23,000 23,000 30,000 Security Enhancements 281,000 250,000 250,000 250,000 250,000 Communications 18,900 15,000 15,000 15,000 15,000 Public E�.ents 54,225 50,000 50,000 50,000 50,000 Capitallmprovements 165,000 175,000 290,000 125,000 150,000 Annual ReHew 4,600 12,100 12,100 12,100 12,100 City Administrative Fee 38,358 36,931 37,589 38,261 38,947 Total Budgeted Expenses $ 2,261,488 $ 1,846,525 $ 1,879,464 $ 1,913,064 $ 1,947,334 Contribution to Fund Balance - - - - - Net Change in Fund Balance $ (343,564) $ - $ - $ - $ - Fund Balance,Beginning of Year(Estimated Yrs 25) 703,711 360,147 360,147 360,147 360,147 Estimated Fund Balance,End of Year 360,147 360,147 360,147 360,147 360,147 Reserve Requirement 307,816 313,307 318,908 324,621 324,621 Over(Under)Reserve $ 52,331 $ 46,840 $ 41,239 $ 35,626 $ 35,626 The total budgeted costs of the improvements and services for the District for fiscal year 2021-2022 are $2,261,488.00. Of this amount, $1,718,368.00 will be funded by assessments collected on privately-owned parcels located in the District. The remainder of the costs will be funded by other revenue sources,including: • $199,556.00 in direct payments from the City for payment in lieu of services, which was appropriated from the General Fund balance by City Council action on September 21,2021; • $78,664.00 transferred from the unaudited, unassigned fund balance by City council on September 21, 2021;and • $264,900.00 in additional funds to be transferred from the unaudited,unassigned fund balance. Ordinance No. Page 3 of 3 City of Fort Worth,Texas Mayor and Council Communication DATE: 04/12/22 M&C FILE NUMBER: M&C 22-0247 LOG NAME: 17PID06 MIDYEARFY22 SUBJECT (CD 4)Adopt Attached Ordinance Amending the Fiscal Year 2021-2022 Adopted Budget and Five-Year Service Plan for Public Improvement District 6-Park Glen and Adopt Attached Appropriation Ordinance RECOMMENDATION: It is recommended that the City Council: 1. Adopt the attached ordinance amending the Fiscal Year 2021-2022 Budget and Five-Year Service Plan for Public Improvement District 6— Park Glen to reflect amendments associated with a mid-year review and direct the City Secretary to record the same in the real property records of Tarrant County,Texas no later than the seventh(7th)day after adoption by the City Council;and 2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District 6—Park Glen Fund in the amount of$264,900.00,from available,unreserved fund balance,for the purpose of funding mid-year budget adjustments. DISCUSSION: The City of Fort Worth's Department of Economic Development administers the City's Public Improvement Districts(PIDs). The City's Operating PID Policy outlines the need to proactively work with City's PID management companies to oversee the services being provided within each of the PIDs.PID 6-Park Glen(or the Park Glen PID)is managed by FirstService Residential Texas PID,LLC(FirstService). On September 21,2021,City Council adopted Ordinance No.25077-09-2021,approving the fiscal year(FY)2021-2022 Budget, Five-Year Service Plan,Assessment Plan,and Tax Year 2021 Assessment Roll for the Park Glen PID. After conducting a mid-year review of the Park Glen PID's budget,City staff and FirstService have identified the need to increase the Park Glen PID budget by$264,900.00,to align expenses with actual activities that are attributable primarily to increases in landscaping for the redesign of a center median bed,increased security patrol costs, and an increase to capital improvements for the second phase of installation of fitness equipment in the park. Revenue adjustments: Line Items to Previously Recommended Amended be Adjusted Approved FY22 Mid-Year I FY22 Budget Budget Item Adjustment Item PID $1,718,368.00 $0.00$1,718,368.00 Assessments COFW Payment in Lieu $199,556.00 $0.00 $199,556.00 of Services Use of Ba anceund $78,664.00 $264,900.00- $343,564.00 Totals $1,996,588.00 $264,900.00 $2,261,488.00 Expenditure adjustments: Line Items to Previously Recommended Amended be Adjusted Approved FY22 Mid-Year FY22 Budget Budget Item Adjustment Item Landscaping $790,475.001 $130,000.00 $920,475.00 Security $250,000.00 $31,000.00 $281,000.001 Enhancements 11 Communications $15,000.00 $3,900.00 $18,900.00 Capital $65,000.00 $100,000.00 $165,000.00 Improvements Totals $1,120,4757 $264,90 1.00$1,385,375.00 All other previously approved line items not mentioned above remain the same. Upon approval of the above recommendation,the total budgeted expenses for the FY 2021-2022 will be$2,261,488.00.This mid-year budget adjustment will decrease the unaudited,unassigned fund balance by a total of$264,900.00.The revised Budget and Five-Year Service Plan will take effect upon approval by City Council. The City and FirstService will update the exiting contract to reflect the mid-year adjustment(City Secretary Contract No.56474). Funding is available for appropriation in the fund balance of the FWPID#6-Park Glen Fund.The beginning balance is$703,711.28,after this M&C,available balance will be$360,147.28. The Park Glen PID is located in COUNCIL DISTRICT 4. 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 upon approval of the above recommendations and adoption of the attached appropriation ordinance,funds will be available in the current operating budget,as appropriated,in the FWPID#6-Park Glen Fund.Prior to any expenditure being incurred, the Economic Development Department has the responsibility to validate the availability of funds. Submitted for City Manager's Office by: Reginald Zeno 8517 Originating Business Unit Head: Robert Stums 2663 Additional Information Contact: Crystal Hinojosa 7808