HomeMy WebLinkAboutOrdinance 26837-04-2024Ordinance No. 26837-04-2024
AN ORDINANCE ADJUSTING APPROPRIATIONS IN THE FORT WORTH
PUBLIC IMPROVEMENT DISTRICT 1— DOWNTOWN FUND, IN THE AMOUNT
OF $424.00, 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 I — Downtown Fund, in the amount of $424.00, 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 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 26453-04-2023 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said prior ordinances and appropriations are hereby expressly repealed.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:
All
Him Arias {Apr 26, 202415:07 COT)
Assistant City Attorney
ADOPTED AND EFFECTIVE: April 23, 2024
CITY SECRETARY
ki-,76: k'onaW CwLLaGe,s
for JG: Ronald Gonzales (Apr 26, 202415-34 GOT)
Jannette S. GoodalI
City Secretary
Addhal
City of Fort Worth um
Five Year Service Plan FY 23-24 - FY27-28 BUD
Public Improvement District No. 1 -Fort Worth
FIVE YEAR SERVICE PLAN - MID YEAR Revision
FY23124 FY24125 FY25126 FY26127 FY27128
REVENUES
PID Assessments* $ 2.970,608 $ 3.029,021 $ 3,088,602 $ 3,149,374 $ 3,211,361
COFW Assessment 371,477 371,477 371,477 371,477 371,477
COF1N Payment in lieu of Services 156,431 159,560 162,751 166,006 169,326
PID Generated Revenue 150,000 150,000 150,000 150,000 150,000
Total Budgeted Revenues $ 3,648,516 $ 3,710,058 $ 3,772,829 $ 3,836,856 $ 3,902,164
Use of Fund Balance - - - -
Total Revenues $ 3,648,516 $ 3,710,058 $ 3,772,829 $ 3,836,856 $ 3,902,164
EXPENSES
Management Fee $ 561,350 $ 532,695 $ 543,349 $ 554,216 $ 565,300
Utilities 20,500 10,000 13,000 14.000 15,000
Landscaping 197,000 140,000 140,000 140,000 140,000
Maintenance & Operations 1,281,300 1,272,300 1,536,197 1,559,701 1,568,627
Tree Lights 50,000 30,000 30,000 30,000 45,000
Security 10,700 10,700 11,981 12,220 12,220
Ambassador Program 724,200 734,114 747,796 761,752 775,987
Newsletter 12,500 12,500 12,500 12,500 12,500
Marketing & Research 438,800 445,842 454,759 463,854 473,444
Transportation & Planning 204.657 200,784 204,790 208,876 213,043
City Audit 3,000 3,000 3,000 3,000 3,000
City Administrative Fee 71,440 74,201 75,457 76,737 78,043
Total Budgeted Expenses $ 3,575,447 $ 3,466,136 $ 3,772,829 $ 3,836,856 $ 3,902,164
Contribution to Fund Balance $ 73,069 $ 243,922 $ - $ $ -
Total Expense $ 3,648,516 $ 3,710,058 $ 3,772,829 $ 3,836,856 $ 3,902,164
Net Change in Fund Balance $ 73,069 $ 243,922 $ 0 $ (0) $ (0)
Beginning Fund Balance, Estimated (Yrs 2-5) 277,789 350,858 594,780 594,780 848,297
Estimated Fund Balance, End of Year 350,858 594,780 594,780 594,780 848 297
Reserve Requirement 577,805 628,931 639,604 650,491 650,491
Over (Under) Reserve $ (226,947) $ (34,151) $ (44,824) $ (56,711) $ 197,806
*FY2024 Assessment Rate = $.13
City of Fort Worth,
Mayor and
DATE: 04/23/24
Texas
Council Communication
LOG NAME: 17PID01 MIDYEAR FY24
SUBJECT
M&C FILE NUMBER: M&C 24-0323
(CD 9) Adopt Ordinance Amending the Fiscal Year 2023-2024 Budget and Five -Year Service Plan for Public Improvement District i -
Downtown 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 1 —
Downtown 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 1 - Downtown
Fund in the amount of $424.00, transferred from Park 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
1 - Downtown Fund in the amount of $76,082,00, transferred from Economic Development Department General Fund, for purpose of funding
Payment In -Lieu of Assessments in Fiscal Year 2023-2024.
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 proactivelywork with the City's PID management companies to oversee the services being provided within each of the PIDs.
PID 1 — Downtown (Downtown PID) is managed by Downtown Fort Worth Inc., (DFWI).
On September 12, 2023, City Council adopted Ordinance No. 26423-09-2023, 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
Downtown PID's budget, City staff and DFWI has identified the need to increase Downtown PID's (City of Fort Worth) allocations by $76,506.00 to
account for 1) $424.00 of additional payment in -lieu of services and 2) $76,082.00 of additional City payment in -lieu of assessments. The
additional revenue increase will result in a increase to the original contribution to fund balance in the amount of $18,406.00. Expenditure
adjustments are primarily attributable to increases in management fee (non -executive), marketing & research, and transportation & planning salary
expenses as a result of two recent compensation studies. The utility expense increase accounts for summer water usage and the landscaping
increase allows for potential increases in the planting plan.
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 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 payment in -
lieu of Assessment is an allocation to the PID budget for assessments the City would pay on City -owned properties in the Downtown PID, if the
City was not a tax-exempt entity.
Revenue Adjustments:
Line Items to
Previously
Recommended
Amended
be Adjusted
Approved
Mid -Year
FY24 Budget
FY24 Budget Item
Adjustment
Item
AID
ssessments
$2,970,60&00
$0.00
$2,970,608.00
COFW
Payment in lieu
$156,007.00
$424.00
$156,431.00
of Services
COFW
Assessment
$295,395.00
$76,082.00
$371,477.00
PID Generated
Revenue
$150,000.00
$0.00
$150,000.OQ
Totals 11
$3,572,01 0:0:011
$76,506.00
$3,648,516.00
Expenditure Adjustments:
Line Items to
be Adjusted
Previously
Approved
Recommended
Mid Year
Amended
FY24 Budget
FY24 Budget Item
Adjustment
Item
Management
Fee
$522,250.00
$39,100.00
$561,350.00
Utilities
$10,000.001
$10,500. 00
$20,500.00
Maintenance &
Operations
$1,272,300.00
$9,000.00
$1,281,300.00
Tree Lights 11
$130,000.00
($80,000.00)
$50,000.00
Landscaping 11
$140,000.§J
$57,000.00
$197.000.00
Marketing &
Research
$424,600.00
$14,200.00
$438,800.00
Transportation&
Planning
$196,357.00
$8,300.00
$204.657.00
Contribution to
Fund Balance
$54,663.00
$18,406.00
$73,069.00
Totals
$2,750,170.00
$76,506.00
$2,826,676.00
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 $3,648,516.00. This mid -year budget
adjustment will increase the unaudited, unassigned fund balance by a total of $18,406.00. 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 adjustments (City
Secretary Contract No. 60329).
The Downtown 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 1 CERTIFICATION:
The Director of Economic Development certifies that upon approval of the recommendations and adoption of the attached appropriation
ordinances, funds will be available in the current operating budget, as appropriated, in the FWPID #1 - Downtown 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 Stums
2663
Additional Information Contact: Lacey Ruiz 2608
Expedited