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HomeMy WebLinkAboutOrdinance 17151-09-2006Ordinance No. 17151-09-2006 AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE SPECIAL ASSESSMENT DISTRICT FUND IN THE AMOUNT OF $817,787 FROM AVAILABLE FUNDS FOR THE PURPOSE OF FUNDING IMPROVEMENTS ANb SERVICES 1N PUBLIC IMPROVI=MENT DISTRICT NO. 7 {H1=RITAGE); MAKING THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: SECTION 1. That in addition to those amounts allocated to the various City departments for Fiscal Year 2006-2007 in the Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the Special Assessment District Fund in the amount of $817,787 from available funds for the purpose of funding improvements and services in Public Improvement District No. 7 (Heritage}. SECTION 2. That should any portion, section or part of a section of this ordinance be declared invalid, inoperative ar void far 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 said remaining provisions shall be and remain in full force 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 far the ensuing Fiscal Year beginning October 1, 2006, and ending September 30, 2007, and a!I 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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 AS F~-Atf~=Y Assi ant City Attorney ADOPTED AND EFFECTIVE: ~ September 12, 2006 City of Fort Worth FIVE YEAR SERVICE PLAN Public Improvement District #7 -1-Isritage REVENUE Assessment Revenues City payment in-lieu of Services Builder Assessment $200 per lot Hillwood Subsidy FYD6107 FY07108 FY08109 728,573 852,410 976,910 51,954 # 54,552 57,279 33,200 24,000 20,000 4,060 1,547 29,704 817,787 932,509 1,083,893 FY0911 D FY1 D111 Total Revenues EXPENSES Operations Utilities Landscape Maintenance Common Area Maintenance Insurance City Administration Total Expenses BALANCE 1,101,41D 1,225,91D 6D,143 63,150 16,DOD 12,aoD 7,177,553 1,3D1,060 65,880 77,873 81,207 89,045 92,922 190,276 217,731 251,101 256,138 261,2$2 456,337 530,357 633,497 651,930 669,356 85,200 83,000 91,050 94,610 97,926 5,524 6,500 7,500 7,500 7,500 14,570 17,048 19,538 22,028 24,518 817,787 932,509 1,083,893 1,121,251 1,153,504 - - - 5s,3D2 147,556 PE21C z 0 ~ ~ ~©~~ N TRXANG~,E GOLDEN TRIANG '~ U ,~Ggt{ PRESTIGE y ~ ~ - --- a __ .. ~ I • ~ ~_ - ___ ~ x ~ ~' VJYND OOK -- Fg ----3 F3€ N ~+R . Fl H " m ATS DR H m ' `. _ S DE~ ~~ fTSM R ~ Suct~e~ &liit LDRI V LEY ~ ~~aset 'f,: g± I &s~r°'°~~~ ~2,T2~rs s ~^ ~ -~ ffL ~ = 1 ~i .. .. ~ _.. __ ~ ~...., ~... ca ~ z ~ 6> U ¢ ~ 2 ~ 45 t€. PRICE KEI.LER E IT ~r: E TRk::F lam, . r ~ """- ~ ~ 9Fd,il~ri^ A v€ASLiBLF I 3$Sge P r .084 P3Y16 ' .<~_ &IOCy~s"~ ~ 't20 ~ _~ ._ ~ I _~ KROGER _ /~, ; PARK VISTA . ~~ n 4 SURGE -~:6iT~„E EN ~ `'C E{x~ 8A P' r--~ ~ ~- tVrLLE, S~-; ' t ,~ ~ r- ~TM~dE .= Bess x~ is F r ' I '~'. .c -~ 1 I ~ ~ ~ --- ~~R ~ m ~~~,~ ..~. ~ ~ -'i h1ERiQTF~N- iTF.1'fL~E. ~ /~ 1~1~a' I I ,..,.!n ice" ~'6r leis tee ~~1ern&~e Par3~ a ~'r, ~. Yt ~~~ for ~ ~i,1 ,` '~ F=- Rrri~~~Fo ~I7P -~»-. _ ~ -i7~ a-~, } lea ~?J C~iOlx i :t,4iAP4Pl-+~Vtd i °- - - ~ -: L ~~' 1H P DN ~~®~ ~ c~yy~ti~aa~-P3 4~ I -' 41de I u s -APYA ~~: ~ ~ \` ~ , r~ ~ ~ ~ r -p ~ I Arans A~~rE~ i`ve~'aJ~~r * `~. ~~p I SUMME ~ I {~ Q F g t3A4P _~ _ 11~FUOla_ \, i 4'a'v ~ I a + ~~6® 7t r. ~ gi1U rl rte- `~, f -_ q :elr~au 1s~a8Hc .e4aF'e~~e~cea3~. ~ i_ ~, -- a ~~ vtassE 1~ w ~; f _ ,~~€r F; ~ I ~ - s '' ~ ~` f ~ ~ 3 PQ: ce 6'ae~s ` { ~aUh- ~ I "~ ~ F ~ Sl ER9ER ,~, AF~ I!RC3r,r ~ _> ~~~ ~ ~~d n m Dt04 -' ~:c'cc§a~3'£s~e€!~~,:Ec ~J =~~ g_i ,I z ~ O 11~GE . J, -,. I .rx BASSWOOD -- RE4= 5 - 4'~,a~~~'~ ,Y l 1 . ~>:~ ~ ORRINE ----yam ~ ~ -~ ~ a ~'a xiI #r - ~ Isti ~ ~4sn~ s LON T T ,- J ~. ~ ~ ~., i ~ ~ ~ . - ~ BU ~ '~ 4 I tKa LoU MENK {t~ D GLEA WES RN CET R ~ ; ~ < 9 0 j S ~--_ ~N `~~~ a ~~'~ ~' °~ Public Improvement ®istricts =1i,- ~ ~ ~ ~~~ ~ y~9~~`J ~ 6- Park ~Ien ~ILV~R~k I.Li_ ~ .. Cy aC~A~4:'~ SirDR~s_ ~,~~ 7- Heritage - J" "" m 9- Parkwood Hills I C TA 5~`,LGR~~ f-. F pity caf ~®r~ VI/ort~h, T"exa~ r unil ~~i COUNC9L ACT10N: Approved on 9!1212006 -Ordinance No. 17150-09-2006 & 17151-09-2005 DATE: Tuesday, September 12, 2006 LOG NAIVIE: 13PID7BEND6-D7 REFERENCE NO.: BH-227 SUBJECT: Benefit Hearing for Fort Worth Public Improvement District 7 (Heritage) Concerning Proposed Property Assessments, Adoption of Ordinance Levying Assessments for Fiscal Year 2DOt3-D7 and Adoption of Appropriation Ordinance Allocating Estimated Receipts to the District REC©IVINlEN©ATlON: It is recommended that the City Council: 1. Hold a benefit hearing concerning the proposed property assessments far Fort Worth Public Improvement District 7 (PID 7) for p'iscal Year 2006-07; 2. Adapt the attached ordinance which levies the proposed assessments far PID 7 fnr Fiscal Year 2006- 07; and 3. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations by $817,787.D0 in the Special Assessment District Fund PID 7 Project account from available funds. DISCUSSCON: The purpose of this benefit hearing is to receive comments from the public regarding the Fiscal Year 2006- 07 proposed assessments to be levied on each property in PID 7, to adopt an ordinance levying the proposed assessments and to adopt an appropriation ordinance allocating estimated receipts to the Dis#rict. On August 22, 2006, {M&C G-15368) the City Council approved fhe Fiscal Year 200607 budget and five- year service plan {attached), directed that certain improvements and/nr services be provided in PI© 7 during the Fiscal Year 2006-07, adopted the proposed 2006 assessment roll and provided notice of this benefit hearing. The improvements and services to be provided and the casts thereof are: lmaroverr~erits Total Budg_e~ed Costs 1}Grounds Maintenance Program $737,337.00 2} Operations $65,880.00 3} City Administration (2% of budgeted assessments) 14 570.00 Total $817, 787.00 The total budgeted costs of the improvements are $817,787.00. Of this amount, $72$,573.00 will be funded by assessments collected on privately owned parcels located in the district by applying a rate of $0.21 cents to each $100.00 of property value for residential property and $0.11 cents for commercial property. Logname: 13PID7BEN06-07 Page 1 of 2 The remainder of the costs, $89,214.00 will be funded by other revenue sources, including: $51,954.00 in a direct payment from the City far payment in lieu of services (appropriated from the General Fund by City Council action on August 22, 2006, M&C G-15368); $33,200.00 from the district's Builder Assessment of $200.00 per lot; and $4,060.00 paid by the Hillwood subsidy. Based on 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 amnun# equal to or more than the proposed assessments, upon completion of the improvements in accordance with the con#rac#, will enhance each parcel of property in value. PID 7 is commonly known as the "Heritage" PID and is located in COUNCIL DISTRICT 2. A map and budget are attached. l=1SCAL INFORMATIONICERTII=[CATIO The Finance Director certifies that upon adoption of the attached ordinances, funds required for this expenditure will be available in the Fiscal Year 2(106-07 operating budget, as appropriated, of the Special Assessment District Fund. TO FundlAecDUntlCen~ers FROfVI FundlAccountlCenters GS87 488342 002507002000 897 787.04 GS87 538120 0025p70Q2f300 _ 817 787~OQ Lr~gname: X 3PID~BEN06-Q7 Page 2 of 2