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HomeMy WebLinkAboutOrdinance 17149-09-2006Ordinance No. J 7149-09-2006 AN ORDINANCE INCFtEA51NG ESTIMATED RECEIPTS AND APPROPR1ATfONS IN THE SPECIAL A5SE5SMENT DISTRICT FUND IN THE AMOUNT OF $9,389,962 FROM AVAILABLE FUNDS FOR THE PURPOSE OF FUNDING IMPROVEMENTS AND SERVICES IN PUBLIC fMPROVEMENT DISTRICT NO. ii (PARK GLEN); MAl<ING THIS ORDINANCE CUMULATIVE OF PR10R ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE DATi=. BE IT QRDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: SECTION 9. That in addition to those amounts allocated to the various City departments for Fiscal Year 21706-2007 in the Budget of the City Manager, there shall also be increased estimated receipts and appropriations in tha Special Assessment District Fund in the amount of $1,389,962 from available funds for the purpose of funding improvements and services in Public Improvement District Na. 6 (Park Glen). SECTION 2. That should any portion, section ar part of a section of this ordinance be declared invaftd, inoperative nr void for any reason by a court of competent jurisd'sctian, such decision, opinion nr judgment shall in na way impair the remaining portions, sections, ar parts of sections pf fhis ordinance, which said remaining provisions shall be and remain in fuH force and effect. SECTION 3. That this ordinance shall be incorporated into the ordinance e#fecting 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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. APPROV AST FO EGALITY: i Assistant City Attorney A©OPTED AND EFFECTIVE: September 12, 2006 PUBLIC IMPROVEMENT DISTRICT # 6 PROPOSED FIVE YEAR SERVICE PLAN FY 06!07 FY 07!08 FY 08109 PY 09110 FY 10!11 REVENUES Budget Budget Budget Budget Budget Assessment Revenues 1,124,012 1,135,252 1,146,605 1,169,537 1,192,927 City Payment In-lieu of Service 54,652 57,385 60,254 63,267 66,430 Prior Years' Assessments 214,638 - - - - Tofal Revenues 1,393,302 1,192,637 1,206,859 1,232,804 1,259,357 EXPENSES Operations Water Electric/Maintenance Irrigation LandscapelTree Maintenance Trash Removal Fence Maintenance I-loliday Lighting Security Patrols Communications Public Events Capital Improvements Replacements Insurance Contingency Annual Review City Administration Total Expenses 98,038 99,999 102,000 104,040 106,122 180,000 183,600 187,272 191,018 194,839 15,395 18,208 18,530 1$,$61 19,202 43,787 44,653 45,556 46,467 47,396 586,916 517,054 527,396 537,943 548,702 15,599 15,911 16,229 16,554 15,885 65,000 65,300 67,626 68,979 70,358 15,000 15,000 15,000 15,000 15,000 108,150 113,558 119,235 125,197 131,457 10,996 11,095 11,195 11,296 11,398 15,000 15,150 15,302 15,4 56 15, 611 177,000 25,000 15,000 15,000 15,000 10,000 10,000 10,000 10,000 10, 000 15,000 15,750 16,538 17,366 18, 235 10,000 10,000 10,000 10,000 10, 000 1,600 1,632 1,665 1,698 1,732 ,22,480 22,705 22,932 23,391 23,859 1,389,962 1,185,525 1,201,476 1,228,266 1,255,796 BALANCE 3,340 7,012 5,383 4,538 3,561 z 0 ~ 'Go~,p I x JOSH =-, m ~. a' . r Sueose8 &ii11 ~ ~ ~_ r \ _ ri 'cRET 'CaE TRAGF g~@ ~@L•i9 U A m N V] ~ T ~ n `°~ ~ QI ~ ~ ' :: - z n ~ i N J d 1 wa ~ aASS c. gRR INE F€ A w u~ ~~Y ~ ~qu ea~rari t - P y r . ~ zl ! 4 ~ ~~i~ S!LVER RI CL ~?&~ 1 ~_~ :'` _ Ct NTA I QOLOEN TRIANG e = U d _ D ISt 5 ~ rsvvfimra~ t^t4~ j s.. ~~----,, LgRI V LLEY 4s ^~ cr,~a~ ~ s ar BATE uQi ~~.,, m 6} ~ ~ 7. fLCL PR€CE F(ELLER ~ 6 6°l~~~i.1~~~ ,f~C7lBB~: - r -~- _ -_ KROGER_ Q ~. 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PFIIGE Cif ®f F®~ V~"®h, Texas ay~r and n rnnica°ti n COUNCIL ACTION: Approved on 9112120Q6 - Ordinaa~ce No. '17'148-09-2UD6 & 17149-E~9-2006 DATE: Tuesday, September 12, 2006 LOG NAME: 13PID6BEN06-07 REFERENCE N©.: BN-226 SUBJECT: Benefit Hearing for Fort Worth Public Improvement District 6 (Park Glen) Concerning Proposed Property Assessments, Adoption of Ordinance Levying Assessments far Fiscal Year 2006-07", and Adoption of Appropriation Ordinance to Increase Estimated Receipts in the Special District Fund RECOMMENDATION. It is recommended that the City Council: 1. Hold a benefit hearing concerning the proposed property assessments for Fort Worth Public improvement District 6 (PID 6) for Fiscal Year 2006-07; 2. Adopt the attached ordinance which levies the proposed assessments fior PID 5 far Fiscal Year 2005- 07; and 3. Adapt the attached appropriation ordinance increasing estimated receipts and appropriations by $1,389,962.00 in the Special Assessment District Fund P1D 5 Project account from available fiunds. DISCUSSION. The purpose of this benefit hearing is to receive comments from the public regarding the Fiscal Year 2005- 07 proposed assessments to be levied on each property in PID 6, to adopt an ordinance levying the proposed assessments and to adopt an appropriation ordinance allocating estimated receipts to the District. On August 22, 2006, (M&C G-15367) the City Council approved the Fiscal Year 2006-07 budget and five- year service plan (attached}, directed that certain improvements and/or services be provided in PID 6 during the Fiscal Year 2006-07, adopted the proposed 2005 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: Improvement 1) Maintenance & Landscaping 2) Security Patrols 3) City Administrative Fee (2% of 4) Capital Improvements 5) contingency 6) Public Events 7) Holiday Lighting 8) Communications budgeted assessments) Total Budgeted Costs $916,698.00 $108,150.00 $22,480.00 $177,000.00 $1 o,aoo.ao $15,000.00 $15,OOO.00 $10,996.00 Logname: 13PID6BENOb-07 Page t of 2 9) Operating Expenses $98,038.00 10) Annual Review $1,600.00 11) Insurance 15 OOOAO 12) Total Expenditures $1,389,962.00 13) Projected Fund Balance 09/30/07 _ 3 340.00 14) Total Revenues $1,393,302.00 [n accordance with the five year service plan budget, the total budgeted costs of fhe improvements and services are $1,389,962A0. Of this amount, $1,124,012.00 will be funded by assessments collected on privately owned parcels located in the district by applying a rate of $0.175 cents to each $100.00 of property value for residential property and $.035 cents for commercial property. The remainder of the costs, $2f>5,950.00 will be funded by a direct payment from the City for payment in lieu of services of $54,652.00, which was appropriated from the General Fund by City Council action an August 22, 2006, (M&C G-15367) and prior years assessments of $214,638.00. Upon approval of this M&C, the fund balance for PID 6 to be carried forward to FY2007-OS budget will be $3,340.00. Based on the appraised value of the property, and considering the benefits to be received from the proposed improvements, it is the opinion of City staff that an amount equal to or more than the proposed assessments, upon completion of the improvements in accordance with the contract, will enhance each parcel of property in value. PID 6 is commonly known as the "Park Glen" PiD and is located in COUNCIL ©ISTRICT 4. A map and budget are attached. FISCAL INFORIi1iATIONICBRTl1=1CAT1(3N: The Finance Director certifies that that upon adoption of the attached ordinances, funds will be available in the Fiscal Year 2006-07 operating budget, as appropriated, of the Special Assessment District Fund. TO FundlAccountlCenters FR®M FundlAccountlCenters GS87 488342 002506002000 $1,389,962.00 GS87 539120 002506002000 1 389,962.00 5tabrttitt~d for City IVlana er's Offiice b Karen Montgomery (6222) ©riainating ®elaartrttent Head: Richard Zavala (Acting) {6101) Additional Information Contact: Jenny Townsend (6030) Becky Waod (8550) Logname: 13PIDbBEN06-07 Page 2 of 2