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Home My WebLink AboutContract 56481-A1 CSC No. 56481-A1 FIRST AMENDMENT TO CITY SECRETARY CONTRACT NO. 56481, A MANAGEMENT AND IMPROVEMENT SERVICES AGREEMENT Fort Worth Public Improvement District No. 7(Heritage) This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 56481 ("First Amendment")is made and entered into by and between the CITY OF FORT WORTH("City"),a home- rule municipal corporation organized under the laws of the State of Texas, acting by and through its duly authorized Assistant City Manager, and FIRSTSERVICE RESIDENTIAL TEXAS PID,LLC, a Texas limited liability company("Contractor") acting by and through its duly authorized representative. WHEREAS, the City and Contractor are parties to a Management and Improvement Services Agreement for Fort Worth Public Improvement District No. 7, the same being City Secretary Contract Number 5648 1("Agreement"); WHEREAS, Contractor identified a mid-year adjustment to reflect changes to the current budget and 5-year service plan, including an increase to the management fee; WHEREAS, on April 6,2021,the City Council adopted an ordinance revising Fiscal Year 2021- 2022 budget and five-year service plan, taking into account budgetary adjustments; WHEREAS,the parties wish to amend the Agreement to incorporate the revised budget and five- year service plan; and NOW,THEREFORE,for and in consideration of the mutual covenants,promises,and agreements contained herein,the City and Contractor do hereby covenant and agree to amend the Agreement as follows: 1. Exhibit A to the Agreement concerning the Budget and Service Plan for the District is replaced with, and superseded by, a new Exhibit A that is attached to this First Amendment, which is incorporated into the Agreement for all purposes. 2. All terms of this First Amendment that are capitalized but not defined have the meanings assigned to them in the Agreement. 3. All terms and conditions of the Agreement that are not expressly amended pursuant to this First Amendment will remain in full force and effect. IN WITNESS WHEREOF,the undersigned have caused this First Amendment to be executed in Fort Worth, Tarrant County, Texas. CITY OF FORT WORTH: FIRSTSERVICE RESIDENTIAL TEXAS PID,LLC a Texas limited liability company A&I- WAPd By Reginald Zeno(May 10,2022 14:11 CDT) By:Kathleen Ward(May 9,2022 17:46 CDT) Reginald Zeno Kathleen Ward Interim Assistant City Manager President OFFICIAL RECORD Date: May 10, 2022 Date: May 9, 2022 CITY SECRETARY FT.WORTH, TX First Amendment to CSC 56481 1 of 3 o � ATTEST: �o o a�•+l�d o�v 0 0 0 QQNr' �ddG'e:GC�fi ��'f 0 0 00° � By::Jannette Goodallzzo, cor) � �tLEXASoA� City Secretary APPROVED AS TO FORM AND LEGALITY: � cva.�1 By:4. Tyler F. Wallach Senior Assistant City Attorney Contract Compliant Manager: By signing, I acknowledg that I am the person responsible for the monitoring and administration of this contract,including ensuring all performance and reporting requirements. ( u� Crystal Hinojosa Sr. Contract Compliance Specialist M&Cs: 21-0702 (September 21,2021);22-0248 (April 12,2022) Form 1295: 2021-790538 OFFICIAL RECORD CITY SECRETARY FT.WORTH, TX First Amendment to CSC 56481 2 of 3 Exhibit"A" City of Fort Worth Five Year Service Plan IFY22 Mid-Year Public Improvement District No.7-Heritage FY21122 FY22123 FY23124 FY24125 FY25i26 REVENUES PIDAssessments $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 COFW Gas Royalties(Barksdale Dam) 50-000 Total Budgeted Revenues $2,012,924 $1,998,361 $2,034,5% $2,071,374 $2,108,980 Use of Fund Balance 478,334 12T,607 60,184 81,053 T8,200 Total Funds Available for Use $2,491,258 $2,125,967 $2,094,690 $2,152,427 $2,187,180 EXPENSES Management Fee $ 144-000 $ 145,000 $ 147.000 $ 148,000 $ 160.000 Utilities 250,000 253,000 256,000 259,000 262,000 Landscapingrfree 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 106.000 T0,000 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 250-000 175,000 100.000 100,000 100.000 Insurance - - - - - Annual Review 2,500 2.600 2.500 2,500 2.600 C ity Ad mi n i st rative Fee 39,258 39,967 40,690 41,42T 42.180 Total Budgeted Expenses $2,491,258 $ 2,125,967 $ 2,094,6917 $ 2,152,427 $ 2,187,180 Net Change in Fund Balance $ 1478,334) $ (127,607) $ (60,184) $ 181,053) $ 178,200) 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 2T4.871 Reserve Requirement 354-399 349,185 358.810 364,603 364,603 Over iUnder)Reserve $ 267,516 $ 145,124 $ 75,314 $ 111,532} $ 189,732) "FY2022 Assessment Rate=SAW Residential!$.116 Commercial First Amendment to CSC 56481 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: Line Items to be Previously Recommended Amended Adjusted Approved FY22 Mid-Year FY22 Budget Budget Item Adjustment Item PID Assessments $1,771,828.00 $0.00 F$1,771,828.00 COFW Payment in lieu of $191,096.00 $0.00 $191,096.00 Services _ COFW Gas Royalties $0.00 $50,000.00 7,000.00 (Barksdale Dam) J Use of Fund $443,334.00 $35,000.00 $478,334.00 Balance Totals $2,406,258.00 $85,000.00 $2,491,258.00 Expenditure adjustments: Line Items to Previously Recommended Amended be Adjusted Approved FY22 Mid-Year FY22 Budget Budget Item Adjustments Item Security $70,000.00 $35,000.00 $105,000.00 Enhancements Capital $200,000.00 $50,000.00 $250,000.00 Improvements ,Totals �J $270,000.00 $85,000.00 $355,000.00 Capital II ( Revised Project FY2022 CIP Budget Change Fund Name Appropriations Authority Increase/Decrease) Budget Name Budget PARD PARD Gas Maintenance Lease & $2,371,298.00 This M&C Capital ($50,000.00)$2,321,298.00 Replacement Projects F P_P00133 und Barksdale BDE arksdale Dam Repairs $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/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