The URL can be used to link to this page

Home My WebLink AboutOrdinance 26171-05-2023ORDINANCE NO. 26171-05-2023 AN ORDINANCE ADJUSTING APPROPRIATIONS IN THE GENERAL FUND BY DECREASING APPROPRIATIONS IN THE NON -DEPARTMENTAL DEPARTMENT IN THE AMOUNT OF $550.00 AND INCREASING APPROPRIATIONS IN THE ECONOMIC DEVELOPMENT DEPARTMENT BY THE SAME AMOUNT, FOR THE PURPOSE OF TRANSFER TO THE FORT WORTH PUBLIC IMPROVEMENT DISTRICT 11 — STOCKYARDS FUND FOR FUNDING PAYMENT IN -LIEU OF SERVICES AND CITY OF FORT WORTH ASSESSMENTS; PROVIDING FOR A SEVERABILITY CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES; REPEALING ALL 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 2022-2023 in the Budget of the City Manager, there shall also be adjusted appropriations in the General Fund by decreasing appropriations in the Non -Departmental Department in the amount of $550.00 and increasing appropriations in the Economic Development Department by the same amount, for the purpose of transfer to the Fort Worth Public Improvement District 1 I — Stockyards Fund for funding payment in -lieu of services and City of Fort Worth Assessments. SECTION 2. That should any portion, section or part of a section of this ordinance be declared invalid, irfoperative 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 said remaining provisions shall be and remain in full force and effect. SECTION 3. That this ordinance shall be cumulative of Ordinance 25773-09-2022 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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. APPROVED AS TO FORM AND LEGALITY: ALL Nico Arias (Jun 13, 2023 10:18 CDT) Assistant City Attorney ADOPTED AND EFFECTIVE: May 23, 2023 CITY SECRETARY Jannette S. Goodall 4.00vun�>Z FoR?�40 City Secretary �dQO0000000°o � o 0 Vo o�Q 0 0 o00 ='D * o G o0 0°o° � �a�a> Tix 4� r City of Fort Worth, Texas Mayor and Council Communication DATE: 05/23/23 M&C FILE NUMBER: M&C 23-0415 LOG NAME: 17PID11 MIDYEARFY23 SUBJECT (CD 2 / Future CD 2) Adopt Ordinance Amending the Fiscal Year 2022-2023 Budget and Five -Year Service Plan for Public Improvement District 11 - Stockyards and Adopt Appropriation Ordinances RECOMMENDATION: It is recommended that the City Council: 1. Adopt the attached ordinance amending the Fiscal Year 2022-2023 Budget and Five -Year Service Plan for Public Improvement District 11 — Stockyards 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 adjusting appropriations in the General Fund by decreasing appropriations in the Non - Departmental Department in the amount of $550.00 and increasing appropriations in the Economic Development Department by the same amount, for the purpose of transfer to the Fort Worth Public Improvement District 11 - Stockyards Fund for funding City of Fort Worth Payment In -Lieu of Assessments; and 3. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District 11 - Stockyards Fund 1) in the amount of $550.00, transferred from Economic Development Departments General Fund, for purpose of funding City of Fort Worth Payment In -Lieu of Assessments; 2) in the amount of $49,450.00, in Fiscal Year 2022-2023, from available, unreserved fund balance. 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 11 — Stockyards (Stockyards PID) is managed by Stockyards Preservation Foundation of Fort Worth, Inc. On September 13, 2022, City Council adopted Ordinance No. 25716-09-2022, approving the fiscal year (FY) 2022-2023 Budget, Five -Year Service Plan, Assessment Plan, and Tax Year 2022 Assessment Roll for the Stockyards PID. After conducting a mid -year review of the Stockyards PID's budget, City staff and Stockyards Preservation Foundation of Fort Worth Inc., have identified the need to increase Stockyards PID's budget to account for $550.00 of additional City payment in -lieu of assessments and $49,450.00 use of fund balance. Expenditure adjustments can be primarily attributable to a reallocation of Capital Improvement to Security to align expense with actual activities that are primarily attributable to increases to support officer patrols and an increase to support a professional services agreement. The City of Fort Worth Assessment is an allocation to the PID budget for assessments the City would pay on City -owned properties in the Stockyards PID, if the City was not a tax-exempt entity. Revenue Adjustments: Line Items Previously Recommended Amended to be Approved FY23 Mid -Year FY23 Budget,! Adjusted ( Budget Item Adjustment Item PID Assessments. $345,399.00! $0.00 $345,399.00 I COFW j Assessment j $7,743.001 $550.00i $8,293.00 Use of Fund Balance I $1600 369 ,.� $49,450.00; $65,819.00 Totals $369,511.00I i $50,000.0U $419,511.O6 Expenditure Adjustments: Line Items to Previously Recommended I Amended be Adjusted Approved FY23 Mid -Year FY23 Budget: Budget Item Adjustment ! Item Security $55,000.001 $75,000.00 I $130,000.001 Capital Improvements $115,000.00 ($75,000.00) $40,000.00 Professional Services $0.00� $50,000.00 $50,000.00 i Totals $170,000.00 $50,000.00': $220,000.00'' All other previously approved line items not mentioned above remain the same. Upon approval of the above recommendations, the total budgeted expenses for FY 2022-2023 will be $419,511.00. This mid -year budget adjustment will decrease the unaudited, unassigned fund balance by a total of $49,450.00. The revised Budget and Five -Year Service Plan will take effect upon approval by City Council. The City and Stockyards Preservation Foundation of Fort Worth, Inc., will amend the existing management contract to reflect the mid -year adjustments (City Secretary Contract No. 58424). Funding is available for appropriation in the fund balance of the FWPID#11-Stockyards Fund. The beginning balance is $171,705.00, after this M&C, available balance will be $105,886.00. The Stockyards PID is located in COUNCIL DISTRICT 2 / FUTURE COUNCIL DISTRICT 2. 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 ordinances, funds will be available in the current operating budget, as appropriated, in the FWPID #11 - Stockyards Fund. 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: William Johnson 5806 Originating Business Unit Head: Robert Sturns 2663 Additional Information Contact: Crystal Hinojosa 7808