HomeMy WebLinkAboutOrdinance 26660-01-2024Ordinance No. 26660-0I-2024
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE FORT WORTH PUBLIC IMPROVEMENT
DISTRICT 22 — VEALE RANCH FUND, IN THE AMOUNT OF $150,000.00, FROM
AVAILABLE UNRESERVED FUND BALANCE, RECEIVED FROM THE
APPLICANTS OF PUBLIC IMPROVEMENT DISTRICT No. 22, VEALE RANCH,
IN CONNECTION WITH THE COSTS INCURRED BY THE CITY FOR THE
EXTERNAL EVALUATION OF THE VEALE RANCH PID PETITION AS
REQUIRED BY THE CAPITAL PID POLICY; 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 2023-2024 in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the Fort
Worth Public Improvement District 22 — Veale Ranch Fund in the amount of $150,000.00, from available
unreserved fund balance, received from the applicants of Public Improvement District (PID) No. 22, Veale
Ranch, in connection with the costs incurred by the City for the external evaluation of the Veale Ranch PID
petition as required by the Capital PID Policy.
SECTION 2.
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 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.
This ordinance shall be cumulative of Ordinance 26453-09-2023 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ordinances and appropriations are hereby expressly repealed.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: January 23, 2024
CITY SECRETARY
Jannette S. Goodall o4�4ngn�
City Secretary
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City of Fort Worth, Texas
Mayor and Council Communication
DATE: 01/23/24 MSC FILE NUMBER: M&C 24-0019
LOG NAME: 17VEALE RANCH PID APPROPRIATION
SUBJECT
(ETJ) Adopt Appropriation Ordinance Increasing Estimated Receipts and Appropriations in the Veale Ranch Public Improvement District No. 22
Fund by $150,000.00, from Available Unreserved Fund Balance, Received from the Applicants of Public Improvement District (PID) No. 22, Veale
Ranch, in Connection with the Costs Incurred the City for the External Evaluation of the Veale Ranch PID Petition
RECOMMENDATION:
It is recommended that the City Council adopt the attached ordinance increasing estimated receipts and appropriations in the Fort Worth Public
Improvement District 22 — Veale Ranch Fund in the amount of $150,000.00, from available unreserved fund balance, received from the applicants
of Public Improvement District (PID) No. 22, Veale Ranch, in connection with the costs incurred by the City for the extemal evaluation of the Veale
Ranch PID petition as required by the Capital PID Policy.
121SCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to appropriate funds in the amount of $150,000.00, from available unreserved
fund balance, received received from the applicants of Public Improvement District (PID) No. 22, Veale Ranch, in connection with the costs
incurred the City forthe external evaluation of the Veale Ranch PID petition as required by the Capital PID Policy.
On June 5, 2023, the City Council received a petition requesting establishment of the Veale Ranch PID (Petition). On June 11, 2023, the City
Council adopted a Resolution accepting the filling of the Petition (Resolution No. 5766-06-2023). As part of the acceptance of the petition, the
Capital PID Policy rquires the applicants to pay the City $150,000.000 as reimbursement for costs incurred by the City for the external evaluation
of the Petition. This fee serves to reimburse the City for various costs, including consultant fees, bond attomey fees, independent appraisal fees,
and engineering costs.
The City will refund any unused fee balance to the applicants. Costs incurred for these services may be reimbursed from a debt issuance, if
applicable, within the limits of state and federal laws and the defined restrictions in the Policy.
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 fund balance within the FWPID #22 - Veale Ranch Fund and upon approval of
the above recommendation and adoption of the attached appropriation ordinance, funds will be available in the FWPID #22 - Veale Ranch Fund.
Prior to an expenditure being incurred, the Economic Developement Department has the responsibility of verifying the availability of funds.
Submi ed_for City Manager's Office . William Johnson 5806
Originating Business U it head: Robert Stums 2663
Additional Information Contact: Crystal Hinojosa 7808