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HomeMy WebLinkAboutOrdinance 17145-09-2006Ordinance No. 17145-D9-2006 AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE SPECIAL ASSESSMENT DISTRICT FUND 1N THE AMOUNT OF $57,200 FROM AVAILABLE FUNDS FOR THE PURPOSE OF FUNDING IMPROVEMENTS AND SERVICES iN PUBLIC IMPROVEMENT DISTRICT NO. 11 (STOCKYARDS}; MAKING THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES iN CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE DATE. BE IT ORDAINI=D BY THE C9TY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: SECTION 1. That in addition to those amounts allocated to the various City departments far Fiscal Year 2006-2007 in the Budget of the City Manager, there shah also be increased estimated receipts and appropriations in the Special Assessment District Fund in the amount of $57,20D from available funds for the purpose of funding improvements and services in Public Improvement District No. 71 (Stockyards). SECTION 2. That should any portion, section or part of a section of this ordinance be declared invalid, inoperative or void for any reason by a court of competent jurisdiction, such decision, opinion ar judgment shah in no way impair the remaining portions, sections, or parts of sections afi this ordinance, which said remaining provisions shall be and remain in full farce and effect. SECTION 3. That this ordinance shall be incorporated into the ordinance effecting the budget of the municipal government of the City of Fort Worth for the ensuing Fiscal Year beginning October 1, 2006, and ending September 30, 2007, and all other ordinances and appropriations amending the same except in those instances where the provisions of this ordinance are in direct conflict with such other ordinances and appropriations, in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed. SECTION 4. This ordinance shall take effect upon adoption. ,. APPR A AND LEGALITY: A 'stant City Attorney ADOPTED AND EFFECTIVE: Se tember 12 2D06 Ciry of Fort Worth FIVE YEAR SERVICE PLAN Public lrnpravement District No. 11 • Stockyards REVENUES Assessment Revenues Prior Year Assessments Total Revenues EXPENSES Operations General Liability Insurance Office Supples, Administration &Website Management Marketing Gampaign Gowtawn Goliseum 1nDth Anniversary Gelebratian Website Marketing Street Banners Security Enhancement Trash Removal Purchase of Trash Receptacles Signs far Trash Receptacles City Administration TataE Expenses BALANCE FY06107 F'Y07I08 FY08149 FY09110 FY10111 48,627 48,627 48,627 4$,627 48,627 53,ODn 44,427 34,D54 23,681 13,308 101,527 33,054 82,881 72,308 61,935 1,OD0 1,DOD 1,DDq 1,DD0 1,D00 15,000 15,DOD 15,D00 15,DDn 15,Dnn - 25,OOD 25,000 25,000 25,DDD 6,000 6,DDD 6,000 6,OOD 6,OD0 - 10,000 10,000 10,000 1D,ODn 2,700 - - - - 500 - - - - 2,D00 2,DOD 2,nD0 2,DDD 2,ODD 57,200 53,000 59,000 59,000 59,DD0 x4,427 34,059 23,581 13,308 2,935 .~a. "(~ """'~0' ~ PEAR 1 ~. - • ~ ® r N ` ~ fir/ ~ F n W .._ .:. _ __.....~... ~ o i' LENCOLM1 ~ !~"F• I R[FliG10 -- ® _ ~^ e--l- nRO PECT ~ 1 RO55 1 ~ N4UiTQ'J e ~ - - __ r A -- EL ._- . 1S r i J I ,.. ~ MARKET H LAfIb~' ,_.O~agO~d 0 n :E ~~_ ~~ ~ ~~~ ~.~., i~ S o'ff' x ~Clydr~~aa__~ ___~._-~- ROUST N ~a0 v E ~ d -l City ®f F®rt VI/~~r, ~e.~a~ Mayor and Council Communication COUNCIL ACTI{®N: Approved on 911212006 -Ordinance No. 17744-09-2006 ~ 17145-09-200.6 DATE: Tuesday, September 12, 2006 Lf~G NAME: 13P1D11 BEND6-07 REFERENCE NO.: BH-224 SUBJECT: Benefit Hearing for Fart Worth Public Improvement District 11 (Stockyards) Concerning Proposed Property Assessments, Adoption of Ordinance levying Assessments for Fiscal Year 2006-07 and Adoption of Appropriation Ordinance Allocating Estimated Receipts to the District RECOMMENDATION: It is recommended that the City Council: 1. Hold a benefit hearing concerning the proposed property assessments for Fnrt Worth Public Improvement District 11 {PiD 11) far Fiscal Year 2DDG-D7; 2. Adopt the attached ordinance which levies the proposed assessments for PID 11 for Fiscal Year 2D06- D7; and 3. Adapt the attached appropriation ordinance increasing estimated receipts and appropriations by $57,2DD.DD in the Special Assessment District Fund PID 11 Project account from available funds. DISCUSSION: The purpose of this benefit hearing is to receive comments from the public regarding the Fiscal Year 2D06- D7 proposed assessments to be levied on each properly in t=ort Worth PID 11, to adopt an ordinance levying the proposed assessments and to adopt an appropriation ordinance allocating estimated receipts to the District. On August 22, 2DD6, (M&C G-1537D) the City Council approved the 1=fiscal Year 2DUD-07 budget and five- year service plan {attached), directed that certain improvements and/or services be provided in PID 11 during the Fiscal Year 2DD6-D7, adopted the proposed 2006 assessment roll and provided notice of this benefit hearing. Based upon the five year service plan budget the current and projected revenues will fund the following: Irnnrovement 1) Marketing Campaign 2) Security 3) Street and Sidwalk Cleanliness 4) Operations 5} City Administration (2% of budgeted assessments or min,of $2,000.00) Total Expenditures Projected Fund Balance 09/30/07 Total Revenues Tata4 Sudaeted Costs $30,000.00 $6,000.00 $3,200.00 $16,ooo.oa 2~,0OO~aQ $~7,zao.ao ~a~.a.27.ao $101.627.00 Lo~naz~e: I3PtD11BEN46-47 Page L of 2 * Includes current and projected assessment revenues. The fatal budgeted casts of the improvements and services are $57,200.00, which will be funded by assessments collected on privately owned parcels located in the district by applying a rate of $0.10 cents to each $100.00 of the value of such property, as determined by the City Council. Upon approval of this M&C, the fund balance far PID 11 to be carried forward to the 1=Y2007-D8 budget will be $44,427.00. (Nate: Fund balance accumulation planned far future projects such as signage and website management). Based an the appraised value of the property and considering the benefits to be received from the proposed improvements, it is the opinion of the City staff that an amount equal to ar more than the proposed assessments, upon completion of the improvements in accordance with the contract, will enhance each parcel of property in value. PID 11 is commonly known as the "Stockyards" PID and is located in COUNCIL DISTRICT 2. A map and budge# are attached. FISCAIr INFORMATIONIC~RTIFICATION: The Finance Direc#nr certifies that upon adoption of the attached ordinances, funds required for this expenditure will be available in the Fisca! Year 2006-07 operating budget, as appropriated, of the Special Assessment District Fund. TO FundlAccountlCenters FROM FundlAccaunflCenters G587 488342 D02511©430[}0 57~ 20D.~p GS87 53912Q 002511003DQ0 ~7 240.oQ Subrraittet~ for City Manager`s Office by Karen Montgomery {8222} Driginatin De artnr~ent Head: Richard Zavala (Acting) (6141) Jenny Townsend {6030} Additional lnforrnation Contact: Becky Wood (8550) Lo~x~ame: 13PfD11BEN06-07 Page 2 of 2