The URL can be used to link to this page

Home My WebLink AboutOrdinance 26204-06-2023ORDINANCE NO. 26204-06-2023 AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE 2008 BOND PROGRAM RESIDUALS FUND, IN THE AMOUNT OF $0.02, FROM AVAILABLE FUNDS, FOR THE PURPOSE OF FUNDING THE HARMON RD DESIGN ROW PROJECT (CITY PROJECT NO. 100459); 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 increased estimated receipts and appropriations in the 2008 Bond Program Residuals Fund in the amount of $0.02, from available funds, for the purpose of funding the Harmon Rd Design ROW project (City Project No.100459). 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 or j udgment 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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: Assistant City Attorney ADOPTED AND EFFECTIVE: June 13, 2023 CITY SECRETARY Jannette S. Goodall C't S t i y ecre ary 4�44UQ�� 'yA °° O� d� o�oO0D Pa#XanS MAYOR AND COUNCIL COMMUNICATION MAP Harmon Road Corridor Improvements Design Services 0 500 1,0001,500 �� ~I low t,•t Feet 5 IV • 1 �� eq dft d - ,`--� ' I y 1� 152 �. I tI wan 1 w t [ 1 LL 5t51 4 � 14 - , 4 �- �� Creek�Ln , w if 1. tw j 0 2,500} R5,000 71500 v-, Copyright 2016 City of Fort Worth. Unauthorized reproduction Is a violation of applicable laws. This product is for information purposes and may nor have been prepared for or be suitable for legal, engineering, or surv-ft purposes. It does riot represent an on -the -ground survey and represents only the approximate relative location of Property boundaries. CITY PROJECT # 100459 The CNy of Fort Worth assumes no responsibility for the accuracy of said data. City of Fort Worth, Mayor and DATE: 06/13/23 Texas Council Communication LOG NAME: 20LEGACY DEBT ELIMINATION SUBJECT M&C FILE NUMBER: M&C 23-0472 (CD 3, CD 4, and CD 6) Find that the City Project for Construction of SH 121T Southwest Parkway or Chisolm Trail Parkway is Complete, Freeing Residual Balances for Other Eligible Street and Transportation Improvement Expenditures; Adopt Appropriation Ordinances, and Amend the Fiscal Years 2023-2027 Capital Improvement Program (2018 Bond Program) RECOMMENDATION: It is recommended that the City Council: 1. Find that the City Project for Construction of SH 121T Southwest Parkway aka Chisolm Trail Parkway is complete and that the remaining residual balances can be programmed for other street and transportation improvements that are consistent with the purposes of the debt; 2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the SH 121 T Southwest Parkway Fund in the amount of $973,370.36, from available funds, for the purpose of funding the Harmon Rd Design ROW project (City Project No. 100459); 3. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Street Improvements 2008 Fund in the amount of $1,710,873.32, from available funds, for the purpose of funding the Harmon Rd Design ROW project (City Project No. 100459); 4. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Street Improvements Fund in the amount of $668,332.26, from available funds, for the purpose of funding the Harmon Rd Design ROW project (City Project No. 100459); 5. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the 2007 Critical Capital Projects Fund in the amount of $124,212.87, from available funds, for the purpose of funding the Harmon Rd Design ROW project (City Project No. 100459); 6. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Street Improvements Supplement Fund in the amount of $12,173.00, from available funds, for the purpose of funding the Harmon Rd Design ROW project (City Project No. 100459); 7. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the 2008 Bond Program Residuals Fund in the amount of $0.02, from available funds, for the purpose of funding the Harmon Rd Design ROW project (City Project No. 100459); and 8. Amend the Fiscal Years 2023-2027 Capital Improvement Program. DISCUSSION: The purpose of this Mayor and Council Communication (M&C) is to take actions to facilitate the identification and reprogramming of residual funds from the sale of debt associated with the City project that supported construction of SH 121T Southwest Parkway aka Chisolm Trail Parkway as well as appropriate remaining residuals from previous debt sales already declared substantially complete through M&C G-18738. The Harmon Rd Design ROW project scope includes the construction of a four -lane arterial street from US 287/81 to Golden Triangle Boulevard, with roundabouts at Presidio Vista Drive, Heritage Trace Parkway and Golden Triangle Boulevard. Construction will be complete this fiscal year. By appropriating these residual funds in Harmon Rd Design ROW project staff will be able to reclassify expenses in the current fiscal year that had originally been booked against the 2018 Bond Fund to these legacy debt sources and effectively expend them all in the same fiscal year. By posting these expenses to the old debt proceeds, not only will the City clear up the residual funds and projects, it will also free up approximately $3,488,961.83 in 2018 Bond Fund resources for other project needs. The reprogramming of the freed up 2018 capacity will be identified in future M&Cs and subject to Council Approval. The table below summarizes the funding history for the Harmon Rd Design ROW project: Fund Existing Authority Appropriation Project Total Appropriations Changes Funding 30104 - Developer Contribution $0.00 M&C C- $12,900,000.00 $12,900,000.00 27896 34018 - 2018 Bond Program $0.00 M&C G- $18,000,000.00 $30,900,000.00 19306 56016 - WS Capital Project $0.00 M&C C- $58,450.00 $30,958,450.00 2019 28778 30104 -Developer Contribution $12,900,000.00 M&C 19- ($510,000.00) $30,448,450.00 0141 30108 - Transportation Impact $0.00 M&C 20- $6,300,000.00 $36,748,450.00 Fee Cap 0500 56002 - W&S Capital Projects $0.00 M&C 21- $343,927.00 $37,092,377.00 0353 30104 - Developer Contribution $12,390,000.00 M&C 22- $124,372.00 $37,216,749.00 0535 39405 - SH 121T Southwest $0.00 This M&C $973,370.36 $38,190,119.36 Parkway 39407 - Street Improvements $0.00 This M&C $1,710,873.32 $39,900,992.68 2008 39403 - Street Improvements $0.00 This M&C $668,332.26 $40,569,324.94 39001 - 2007 Critical Capital $0.00 This M&C $124,212.87 $40,693,537.81 Projects 39406 - Street Improvements $0.00 This M&C $12,173.00 $40,705,710.81 Supplement 39411 - 2008 Bond Program $0.00 This M&C $0.02 $40,705,710.83 Residuals The project is currently funded by 2018 Bond Program Fund. Available resources within the General Fund will be used to provide interim financing until debt is issued. Once debt associated with the project is sold, bond proceeds will reimburse the General Fund in accordance with the statement expressing official Intent to Reimburse that was adopted as part of the ordinance canvassing the bond election (Ordinance No. 23209- 05-2018) and subsequent actions taken by the Mayor and Council. The appropriations contemplated in this M&C were not included in the Fiscal Years 2023-2027 Capital Improvement Program due to Council Action being required to declare the SH 121T Southwest Parkway or Chisolm Trail Parkway project complete. The actions in this M&C will amend the Fiscal Years 2023-2027 Capital Improvement Program as approved in connection with Ordinance 25773-09-2022. 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 funds are currently available in the Unspecified -All Funds project within the SH 121 T Southwest Parkway Fund, Street Improvements 2008 Fund, Street Improvements Fund, 2007 Critical Capital Projects Fund, Street Improvements Supplement Fund, and the 2008 Bond Program Residuals Fund and upon approval of the above recommendations and adoption of the attached appropriation ordinances, funds will be available in the SH 121 T Southwest Parkway Fund, Street Improvements 2008 Fund, Street Improvements Fund, 2007 Critical Capital Projects Fund, Street Improvements Supplement Fund, and the 2008 Bond Program Residuals Fund for the Harmon Rd Design ROW project. Prior to an expenditure being incurred, the Transportation & Public Works Department has the responsibility of verifying the availability of funds. Submitted for City Manager's Office . William Johnson 5806 Originating Business Unit Head: Lauren Prieur 6035 Additional Information Contact: Monty Hall 8662