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Home My WebLink AboutOrdinance 25431-04-2022 ORDINANCE NO.25431-04-2022 AN ORDINANCE AMENDING THE FISCAL YEAR 2021-2022 BUDGET AND FIVE- YEAR SERVICE PLAN FOR PUBLIC IMPROVEMENT DISTRICT NO. 7 — HERITAGE; 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 26, 2000, the City Council of the City of Fort Worth ("City Council") authorized the establishment of Public Improvement District No. 7 — Heritage ("District"), as a public improvement district in accordance with the Act and Resolution No. 2675; WHEREAS, on September 21, 2021, the City Council adopted Ordinance No. 25079-09-2021, 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. 25079-09-2021; 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. SECTION 4. Ordinance No.25431-04-2022 Page 1 of 3 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: O Jannette S.Goodall(Apr 15,20221323 CDT) Tyler F. Wallach,Assistant City Attorney Jannette Goodall,City Secretary M&C: 22-0248 ,l OF FO,QT; Adopted and Effective: April 12,2022 ' 01 XAS Ordinance No.25431-04-2022 Page 2 of 3 EXHIBIT A AMENDED SERVICE PLAN City of Fort Worth Five Year Service Plan(FY22 Mid-Year) Public Improvement District No.7-Heritage FY11f22 FY22123 FY23124 FY24125 FY25126 'REVENUES PID Assessments S 1,771,828 $1,80729 $1,843,410 $1,880,278 $1,917,884 COFW Payment in lieu of Services 191,096 191,096 191,096 191,0% 191,096 COFW Gas Royalties(Barksdale Dam) 50,000 ;Total Budgeted Revenues $2,012,924 $1,996,361 $2,034,506 $2,071,374 $2,108.980 Use of Fund Balance 478,334 127,607 60,184 81,063 78,200 Total Funds Available for Use f 2,491,258 S 2,125,967 S 2,094,6% $2,152,427 $2,187,180 EXPENSES Management Fee S 144,000 S 145,000 $ 147,000 5 148,000 $ 150,000 Utilities 250,000 253,000 256,000 259,000 262,000 Landscaping/Tree Maintenance 100,000 1,030,000 1,048,000 1,081,000 1,090,000 Common Area Maintenance 50500 200,000 220,000 240,000 260,000 Holiday Lighting 35,000 5000 50,000 50,000 50,000 Security Enhancements 105,000 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 250,000 176,000 100,000 100,000 100,000 Insurance - - - - - Annual Review 2,500 2,600 2,500 2,500 2,500 City Administrative Fee 39,258 39,967 40,690 41,427 42,180 Total Budgeted Expenses S 2,491,258 S 2,125,967 S 2,094,6% $2,152,427 $2,187,180 Net Change in Fund Balance $ (478,334) S (127,607) S (60,184) $ (81,053) $ (78,2W) Fund Balance,Beginning of Year(Estimated Yrs 2-5) 1,100,249 621,915 494,308 434,124 353,071 Estimated Fund Balance,End of Year 621,915 494,308 434,124 353,071 274,871 Reserve Requirement 354,399 349,185 358,810 364,603 364,603 Over(Under)Reserve S 267,516 S 145,124 S 75,314 S (11,532) S (89,732) FY2022 Assessment Rate-5.160 Residential/SA 10 Commercial The total budgeted costs of the improvements and services for the District for fiscal year 2021-2022 are $2,491,258.00. Of this amount, $1,771,828.00 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: • $191,096.00 in direct payments from the City for payment in lieu of services,which will be appropriated from the General Fund balance by City Council action on September 21,2021; • $478,334.00 transferred from the unaudited,unassigned fund balance; and • $50,000.00 transferred from the PARD maintenance and replacement project(City Project No.P00133) fund to the PARR gas lease capital projects fund Ordinance No.25431-04-2022 Page 3 of 3 City of Fort Worth, Texas Mayor and Council Communication DATE: 04/12/22 M&C FILE NUMBER: M&C 22-0248 LOG NAME: 17PID07 MIDYEARFY22 SUBJECT (CD 4 and CD 7)Adopt Attached Ordinance Amending the Fiscal Year 2021-2022 Budget and Five-Year Service Plan for Public Improvement District 7—Heritage,Adopt Attached Appropriation Ordinances,and Amend the Fiscal Years 2022-2026 Capital Improvement Program 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 7— Heritage 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; 2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District 7-Heritage Fund in the amount of$35,000.00 in Fiscal Year 2021-2022,from available, unreserved fund balance,for the purpose of funding mid-year budget adjustments; 3. Adopt the attached appropriation ordinance adjusting estimated receipts and appropriations in the PARD Gas Lease Capital Projects Fund by increasing estimated receipts and appropriations in the Barksdale Dam project(City Project No. 103992) in the amount of$50,000.00 and decreasing estimated receipts and appropriations in the PARD Maintenance&Replacement project(City Project No. P00133)by the same amount;and 4. Amend the Fiscal Years 2022-2026 Capital Improvement Program. DISCUSSION: The City of Fort Worth's Department of Economic Development administers the City's Public Improvement Districts(PIDs).The City's PID Policy outlines the need to proactively work with the City's PID management companies to oversee the services being provided within each of the PIDs. PID 7—Heritage(or the Heritage PID)is managed by FirstService Residential Texas PID, LLC(FirstService). On September 21,2021,City Council adopted Ordinance No.25079-09-2021,approving the fiscal year(FY)2021-2022 Budget, Five-Year Service Plan,Assessment Plan,and Tax Year 2021 Assessment Roll for the Heritage PID. After conducting a mid-year review of the Heritage PID's budget, City staff and FirstService have identified the need to increase Heritage PID's budget by$85,000.00 to align expenses with actual activities that are attributable primarily to increases in security patrols and repairs to the Barksdale Park. The City budgeted$50,000.00 to fund the Barksdale Dam project,which was included in the Park&Recreation Department's FY 2022-2026 Capital Improvement Program. Economic Development is overseeing the completion of this project through the City's contract with FirstService in order to administratively track the spending of all funding sources associated with the dam repair.This will amend the FY 2022-2026 Capital Improvement Program and the FY 2022 Adopted Budget as approved by Ordinance 25073-09-2021 (Section 6. Capital Improvements, Page 23). Revenue adjustments: Previously Recommended Amended Line Items to be Approved FY22 Mid-Year FY22 Budget j Adjusted Budget Item Adjustment iltem PID $1 771 828.00 $0.00 $1,771,828.00 Assessments �F COFW Payment in lieu of $191,096.00 $0.00 $191,096.00 Services COFW Gas Royalties $0.00 $50,000.00 $50,000.00 (Barksdale Dam) L e of Fundance $443,334.00 $35,000.00 $478,334.00 __]I Totals 1 $2,406,258.00 $85,000.00�$2,491,258.00 Expenditure adjustments: Line Items to Previously Recommended Amended Li Adjusted Approved FY22 Mid-Year FY22 Budget Budget Item Adjustments Item Security Enhancements $70,000.00L $3 0 $105,000.00 Capital lImprovements $200,000.00 $50,000.00 $250,000.00 T $270,000.00 $85,000.00i $355,000.00 Capital Revised Fund Project FY2022 CIP Authority Budget Change FY2022 Name Name Appropriations (increase/Decrease) 9 Bud et PARD PARD Gas Maintenance Lease & $2,371,298.00 This M&C Capital ($50,000.00) $2,321,298.00 Projects Replacement P_P00133 Fund Barksdale Barksdale Dam Repairs Dam $0.00 This M&C $50,000.00 $50,000.00 Repairs P 103992 All other previously approved line items not mentioned above remain the same. Upon approval of the above recommendations,the total budgeted expenses for FY 2021-2022 will be$2,491,258.00.This mid-year budget adjustment will decrease the unaudited, unassigned fund balance by a total of$35,000.00,and decrease appropriations in PARD Maintenance& Replacement project by a total of$50,000.00.The revised Budget and Five-Year Service Plan will take effect upon approval by City Council.The City and FirstService will amend the existing management contract to reflect the mid-year adjustments(City Secretary Contract No.56481). Funding is available for appropriation in the fund balance of the FWPID#7-Heritage Fund.The beginning balance is$1,100,248.53,after this M&C,available balance will be$621,914.53.Funding is also budgeted in the Gas Lease Royalties account of the Park& Recreation Department's PARD Gas Lease Capital Project Fund. The Heritage PID is located in COUNCIL DISTRICTS 4&7 A Form 1295 is not required because:This M&C does not request approval of a contract with a business entity., FISCAL INFORMATION I 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#7-Heritage Fund.The Director of Finance also certifies that upon the approval of the above recommendations and adoption of the attached appropriation ordinance,funds will be available in the current capital budget,as appropriated,of the PARD Gas Lease Capital Project Fund for the Barksdale Dam project to support the approval of the above recommendations.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 Sturns 2663 Additional Information Contact: Crystal Hinojosa 7808