HomeMy WebLinkAboutOrdinance 26851-04-2024ORDINANCE NO.26851-04-2024
AN ORDINANCE AMENDING THE FISCAL YEAR 2023-2024 BUDGET AND FIVE-
YEAR SERVICE PLAN FOR PUBLIC IMPROVEMENT DISTRICT NO.14 — TRINITY
BLUFFS; MAKING THIS ORDINANCE CUMULATIVE OF ALL ' OTHER
ORDINANCES; PROVIDING FOR A SEVERABILITY CLAUSE; AND PROVIDING
AN EFFECTIVE DATE.
WHEREAS, the Public Improvement District Assessment Act, Chapter 372 of the Texas Local
Government Code ("Act"), allows for the creation of public improvement districts;
WHEREAS, on June 16, 2009, the City Council of the City of Fort Worth ("City Council") authorized
the establishment of Public Improvement District No. 14 -- Trinity Bluffs ("District"), as a public improvement
district in accordance with the Act and Resolution No. 3748-0612009;
WHEREAS, on September 12, 2023, the City Council adopted Ordinance No. 26433-09-2023,
approving the fiscal year 2023-2024. budget, five-year service plan, assessment plan, and tax year 2023
assessment roll for the District;
WHEREAS, the City Council desires to amend the fiscal year 2023-2024 budget and five-year service
plan ("Amended Service Plan"), which is attached hereto as Exhibit A and incorporated herein for all purposes;
WHEREAS, the Amended Service Plan is intended to supersede the Service Plan set out in Ordinance
No. 26433-09-2023; and
WHEREAS, the Amended Service Plan will not affect the previously adopted Assessment Plan or
Assessment Roll.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT
WORTH, TEXAS THAT:
SECTION 1.
The Recitals and findings listed above are true and correct and form the basis upon which this Ordinance
is being adopted and are incorporated herein by reference.
SECTION 2.
The City Council hereby approves and adopts the Amended Service Plan for fiscal year 2023-2024. In
doing so, the City Council finds that the supplemental services and improvements set forth in the Service Plan
are feasible and advisable and will serve the needs and desires of the property owners in the District.
SECTION 3..
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 shall remain in full force
and effect.
Ordinance No, 26851-04-2024
Page X of 3
SECTION 4.
This Ordinance is cumulative of 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 5.
The City Secretary is directed to cause a copy of this Ordinance to be recorded in the real property
records of Tarrant County, Texas no later than the seventh (7') day after the adopted date of this Ordinance.
SECTION 6.
This Ordinance takes effect and will be in full force and effect from and after the date of its passage.
AND 1T IS SO ORDAINED.
APPROVED AS TO FORM ATTEST:
AND LEGALITY:
Nico Arias (Apr 26, 202415:21 CDT) fcfr Ronald R Gonzales (Apr 29, 2024 01:24 CDT)
Nico Arias, Assistant City Attorney
M&C: 26851-04-2024
Adopted and Effective: April 23, 2024
lannette S. Goodall, City Secretary
�.ci;1�:T1Att
a
Ordinance No. 26851-04-2024
Page 2 of 3
EXHIBIT A
AMENDED SERVICE PLAN
Li City of Fort Worth
FORT WORTH Five Year Service Plan FY 2024-25 - FY 2027-28 ;
Public Improvement District No. 14 - Fort Worth
FIVE YEAR SERVICE PILAN- MID YR Revision
FY23!24
FY24125
FY25126
FY26i27
FY27 28
REVENUES
PID Assessments
$102,766
S104,821
$11t,.03D
$117,300
5119646
COFW Assessment
40
40
40
43
40
Budget Revenues
$102,806
$104,861
$115.040
5117,340
$119,686
Use of Fund Balance
S10.000
Total Revenues
$112,906
$104.861
$115.040
$117,340
$119,686
EXPENSES
Management Fee
15,000
15,300
15,606
15,606
15,916
Tree Lightwutilities
2,850
3.060
3,121
3.184
3.247
Landscaping
31,000
31,000
32.252
32,875
33.555
Litter Abatement
3,600
3.600
3.600
3,600
3,600
Beautification
27,800
12,500
2.500
2,500
2.500
Ambassador Program
25,000
25,000
50.000
50,000
50.000
Marketing
2,500
2,500
1,000
1,000
1,000
City Audit
3,000
3.000
3,000
3,000
3,000
City Administralrve Fee
2,056
2,097
2,301
2.347
2.394
Budget Expenses
112,806
98,057
113,330
114,111
115.214
Contribution to Fund Balance
E,804
1.660
3,229
4,472
Total Expenses
$112.806
$104.861
$115.040
$117.340
$119,686
Net Change in Fund Balance
(10,000i
6,804
1.660
3.223
4,472
Fund Balance, Beginning or Year
18,659
11,659
18,463
20,123
19.206
Estimated Fund Balance, End of Year
8,653
16,463
20,123
23,352
23,678
Reserve Requirement
16,346
18,900
19,022
19,206
19,206
Over (Under) Reserve
(7,68T)
(438)
1,101
4.146
4,472
' FY2024 Assessment Rate = $.10
The total budgeted costs of the improvements and services for the District for fiscal year 2023-2024 are
$1 12,806.00. Of this amount, $102,766.00 will be funded by assessments collected on privately -owned parcels
located in the District. The remainder of the costs will be funded by other revenue sources, including:
• $40.00 in direct payments from the City for payment in lieu of assessments, which was appropriated
from the General fund balance by City Council action on September 12, 2023, and by this amendment; and
• $10,000.00 transferred from the unaudited, unassigned fund balance.
Ordinance No.26851-04-2024
Page 3 of 3
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 04/23/24 M&C FILE NUMBER: M&C 24-0328
LOG NAME: 17PID14 MIDYEAR FY24
SUBJECT
(CD 9) Adopt Ordinance Amending the Fiscal Year 2023-2024 Adopted Budget and Five -Year Service Plan for Fort Worth Public Improvement
District 14 — Trinity Bluff and Adopt Appropriation Ordinance
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached ordinance amending the Fiscal Year 2023-2024 Budget and Five -Year Service Plan for Public Improvement District 14 —
Trinity Bluff to reflect amendments associated with a mid -year review; and
2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District
14 — Trinity Bluff Fund in the amount of $10,000.00, from available, unreserved fund balance, for the purpose of funding mid -year budget
adjustments.
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 14 —Trinity Bluff (Trinity Bluff PID) is managed by Downtown Fort Worth Inc., (DFWI).
On September 12, 2023, City Council adopted Ordinance No. 26433-09-2023, approving the Fiscal Year (FY) 2023-2024 Budget, Five -Year
Service Plan, Assessment Plan, and Tax Year 2023 Assessment Roll for the Downtown PID. After conducting a mid -year review of the Trinity
Bluffs budget, City staff and DFWI have identified the need to increase the Trinity Bluff PID Budget by $10,000.00 to align expenses with actual
activities that are attributable primarily to increases in beautification including cultural enhancements.
Revenue adjustments:
Line Items
to be
Adjusted
Use ofFund
Previously
Approved FY24
Budget Item
$0.00
Recommended
Mid Year
Adjustment
$10,000.00
Amended
FY24 Budget
Item
$10,000.00
-BalanceTotals =1
$0.00
1 $10,000.�
$10,OOO.00j
Expenditure adjustments:
Line Items
to be
Adjusted
Previously
Approved PY24
Budget Item
Recommended
Mid -Year
Adjustment
Amended
FY24 Budget
Item
113eautificationli
$17,800.0011
$10,000.00
$27,800.00
Totals =1
$17,800.00�
$10,000.00
$27,800.00
All other previously approved line items not mentioned above remain the same. Upon approval of the above recommendations, the total budgeted
expenses for FY 2023-2024 will be $112,806.00. This mid -year budget adjustment will decrease the unaudited, unassigned fund balance by a total
of $10,000.00. The revised Budget and Five -Year Service Plan will take effect upon approval by City Council. The City and DFWI will amend the
existing management contract to reflect the mid -year adjustment (City Secretary Contract No. 60330).
Funding is available for appropriation in the fund balance of the FWPID #14 - Trinity Bluff Fund. The beginning balance is $82,556.80, after this
M&C, available balance will be $72,556.80.
The Trinity Bluff PID is located in COUNCIL DISTRICT 9.
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 recommendations and adoption of the attached appropriation ordinance, funds will be
available in the current operating budget, as appropriated, in the FWPID #14 - Trinity Bluff 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 W William Johnson 5806
Originating_ Business Unit Head; Robert Stums 2663
Additional Information Contact:, Lacey Ruiz 2608
Expedited