HomeMy WebLinkAboutOrdinance 26845-04-2024Ordinance No. 26845-04-2024
AN ORDINANCE ADJUSTING APPROPRIATIONS IN THE FORT WORTH
PUBLIC IMPROVEMENT DISTRICT 7 — HERITAGE FUND, IN THE AMOUNT
OF $15,296.00, TRANSFERRED FROM PARK AND RECREATION
DEPARTMENT GENERAL FUND, FOR THE PURPOSE OF FUNDING
PAYMENT IN -LIEU OF SERVICES; 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 adjusting appropriations in the Fort Worth Public
Improvement District 7 — Heritage Fund, in the amount of $15,296.00, transferred from Park and Recreation
Department General Fund, for the purpose of funding Payment In -Lieu of Services.
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 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 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said prior ordinances and appropriations are hereby expressly repealed.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:
N ico Arias (Apr 26, 202415710 CDT)
Assistant City Attorney
ADOPTED AND EFFECTIVE: April 23, 2024
CITY SECRETARY
far)Panald P. 62DZ /
for Ronald F. Gonn(l s )Apr 29. 2024 07:24 CDT)
Jannette S. Goodall
City Secretary
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City of Fart Worth
Five Year Service Plan FY24-FY28 (Midyear Adjustment)
Public improvement District No.7 - Heritage
FY23/24 FY24/25 FY25/26
FY26/27
FY27/28
REVENUES
PIDAssessments
$
2,020,700 $ 2,061,114 $ 2,122,947
$ 2,186,636 $
2,252,235
COFW Payment in lieu of Services
$
206,392 $ 206,392 $ 206,392
$ 206,392 $
206,392
COFW Assessment
$
28,473 $ 18,473 $ 19,473
$ 18,473 $
18,473
Total Budgeted Revenues
$
2,245,565 $ 2,285,979 $ 2,347,812
$ 2,411,501 $
2,477,100
Use of Fund Balance
$
198,918 $ - $ -
$ - 5
Total Funds Available for Use
$
2,444,493 $ $285,979 $ 2,347,812
$ 2,411,501 $
2,471,300
EXPENSES
PriorYearAdjustment
$
101,072 •$
$
$
- $
Utilities
$
266,915 $
289,593 $
295,385 $
301,293 $
307,318
Landscaping/Tree Maintenance
$
1,234,408 $
1,035,226 $
1,072,115 $
1,110,359 $
1,150,005
Common Area Maintenance
$
246,500 $
158,100 $
161,262 $
264,487 $
167,777
Holiday Lighting
$
48,203 $
49,167 $
50,150 $
51,153 $
52,176
Security Enhancements
$
100,500 $
102,510 $
104,560 $
106,651 $
108,784
Advertising
$
Soo $
500 $
500 $
So0 $
500
Public Events
$
67,580 $
69,932 $
71,331 $
72,757 $
74,212
Capital improvements
$
53,000 $
248,661 $
253,634 $
258,707 $
263,981
Management Fee
$
141,OOD $
143,920 $
146,696 $
149,630 $
152,623
City Administrative Fee
$
44,570 $
45,490 $
46,400 $
47,328 $
48,274
Annual Review
$
3,000 $
3,000 $
3,000 $
3,000 $
3,000
Support Peronnel
$
137,235 $
139,980 $
142,779 $
145,635 $
148,548
Total Budgeted Expenses
$
2,444,483 $
2,285,979 $
2,347,812 $
2,421,501 $
2,477,100
Contribution to Fund Balance
-
-
-
Total Expenses
$
2,444,483 $
2,285,979 $
2,347,812 $
2,421,501 $
2,477,100
Net Change in Fund Balance
$
(198,918)
$ 0
$ 0
$ 0
$ 0
Beginning Fund Balance, (Estimated Yrs 2-5)
$
766,710
$ 567,792
$ 567,792
$ 567,792
$ 567,793
Estimated Fund Balance, End of Year
$
567,792
$ 567,792
$ 567,792
$ 567,793
$ 567,793
Reserve Requirement
$
381,073
$ 391,380
$ 401,997
$ 412,933
5 412,933
Over (Under) Reserve
$
186,719
$ 176,412
$ 165,795
$ 154,860
$ 154,860
• FY2024 Assessment Rate = $.150 Residential/ $.110 Commercial
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 04/23/24 M&C FILE NUMBER: M&C.24-0326
I��I�J1uI�Lr]�I�IiYh�►ilt0!'1�1.�;�'Y�!
SUBJECT
(CD 4 and CD 10) Adopt Ordinance Amending the Fiscal Year 2023-2024 Budget and Five -Year Service Plan for Public Improvement District 7 —
Heritage and Adopt Appropriation Ordinances
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 7 —
Heritage 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 Fort Worth Public Improvement District 7 - Heritage Fund in the
amount of $15,296.00, transferred from available funds from the Paris and Recreation Department General Fund, for purpose of funding
Payment In -Lieu of Services; and
3. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District
7 - Heritage Fund 1) in the amount of $133,968.00, in Fiscal Year 2023-2024, from available, unreserved fund balance, and 2) in the amount
of $1,757.00, transferred from the General Fund for the Economic Development Department, for purpose of funding Payment In -Lieu
of Assessments.
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 7 — Heritage (Heritage PID) is managed by FirstService Residential Texas PID, LLC (FirstService).
On September 12, 2023, City Council adopted Ordinance No. 26427-09-2023, approving the Fiscal Year (FY) 2023-2024 Budget, Five -Year
Service Plan, Assessment Plan, and Tax Year 2023 Assessment Roll for the Heritage PID. After conducting a mid -year review of the Heritage
PID's budget, City staff and FirstService have identified the need to increase Heritage PID's budget by $151,021.00 to account for 1) $15,296.00
of additional payment in -lieu of services 2) $1,757.00 of additional City payment in -lieu of assessments, and 3) $133,968.00 use of fund balance.
Expenditure adjustments can be primarily attributable to increases in landscaping, common area maintenance, and prior year budget adjustments.
These projects encompass irrigation repairs and creek and lake cleanout. Decreases in utilities, capital improvements, and City administrative
fees are also part of the adjustments, primarily resulting from reallocation to accommodate increased expenditures and rectify prior year
administrative fees.
Two line items listed on the Five -Year Service Plan require a transfer of City funds: (1) the City Payment In -Lieu of Services and (2) the City of Fort
Worth Assessment. The City's Payment In -Lieu of Services is a supplement to the Heritage PID budget and intended to provide for the standard
level of improvements and services as comparable to what would be provided by the City for the taxpayers generally. 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 Heritage PID, if the City was
not a tax-exempt entity.
Revenue Adjustments:
Line Items to
Previously
Recommended
Amended
be Adjusted
Approved FY24
Mid Year
FY24 Budget
Budget Item
Adjustment
Item
PID
Assessments
$2,020,700.00
$0.00
$2,020,700.00
COFW
Payment in lieu
$191,096.00
$15,296.00
$206,392.00
of Services
COFW
Assessment
$16,716.00
$1,757.00
$i8,473.00
Use of Fund
Balance
$64.960.00
$133,968.00
$198,918.00
Totals
$2,293,462.00
$151,021.00
1$2,444,483.00
Expenditure Adjustments:
Lines Items
Ito be
Adjusted
Adjustment
Previously
Approved FY24
Budget Item
$0.00
Recommended
Mid Year
Adjustment
$101,072.00
Amended
FY24 Budget
Item
$101,072.00
Utilities
$283,915.00
($17,000.00)
$266,915A0
Landscaping
$1,067.329.00
$167,079.00
$1,234,408.00
Mce
$155,000.00
$91,500.00
$246,500.00
CityAdmin
Fee
$45,869.00
_ ($1,299.00)
$44,570.00
Capital
Improvements
$243,331.00
($190,331.00)
$53,000.00•
Totals 11
$1,795,444.00
$151,021.00
$1,946,465.00
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 $2,444,483.00. This mid -year budget
adjustment will decrease the unaudited, unassigned fund balance by a total of $133,968.00. The revised Budget and Five -Year Service Plan will
take effect upon approval by City Council. The City and FirstService will amend the existing management contract to reflect the mid -year
adjustments (City Secretary Contract No. 60311).
Funding is available for appropriation in the fund balance of the FWPID#7 - Heritage Fund. The beginning balance is $1,815,888.07, after this
M&C, available balance will be $1,681,920.07.
The Heritage PID is located in COUNCIL DISTRICTS 4 & 10.
A Form 1295 is not required because: This M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION 1 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 #7 - Heritage 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 bK William Johnson 5806
Originating Business Unit Head: Robert Sturns 2663
Additional -information ional_information Contact: Lacey Ruiz 2608
Expedited