HomeMy WebLinkAboutOrdinance 26848-04-2024Ordinance No. 26848-04-2024
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE FORT WORTH PUBLIC IMPROVEMENT
DISTRICT 12 - CHAPEL HILL FUND IN THE AMOUNT OF $1,092.00,
TRANSFERRED FROM ECONOMIC DEVELOPMENT DEPARTMENTS
GENERAL FUND, FOR PURPOSE OF FUNDING CITY OF FORT WORTH
PAYMENT IN -LIEU OF ASSESSMENTS; 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 increasing estimated receipts and appropriations in the Fort
Worth Public Improvement District 12 - Chapel Hill Fund in the amount of S1,092.00, transferred from
Economic Development Departments General Fund, for purpose of funding City of Fort Worth Payment
In -Lieu of Assessments.
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said prior ordinances and appropriations are hereby expressly repealed.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:
Ni-ALL
Ar- jAp, 11, 2,2, 6 33 CD7)
Assistant City Attorney
ADOPTED AND EFFECTIVE: April 23, 2024
CITY SECRETARY
i ona€d P. Gowales(Ap,?V024SWOOCD71
Jannette S. Goodall
City Secretary
City of Fort worth
Five Year Service Plan FY 23-24 - FY27-28 (Midyear)
Public Improvement District No.12 - Chapel Hill
REVENUES
PID Assessments
COFW Assessments
Total Budgeted Revenues
Use of Fund Balance
Total Funds Available for Use
EXPENSES
Management Fee
Utilities
Landscaping
Common Area Maintenance
Communications
Audit/Annual Review
Capital Improvements
City Administrative Fee
Total Budgeted Expenses
Contribution to Fund Balance
Total Expenses
Not Change in Fund Balance
Estimated Fund Balance, Beginning of Year
Estimated Fund Balance, End of Year
Reserve Requirement
Over (Under) Reserve
'FY2024 Assessment Rate = $.18
FY23124 FY24125 FY25126 FY26127 FY27128
$ 373,983 $ 385,202 $ 396,759 $ 408,661 $ 420,921
$ 1,092
$ 375,075 $ 385,202 $ 396,759 $ 408,661 $ 420,921
- - 78,000 106,386 23,512
$
375,075
$ 385,202
$
474,759
$
515,047
$
444,433
$
15,072
$ 15,675
$
16,302
$
16,954
$
17,632
19,100
20,055
21,058
22,111
23,216
132,000
186,600
269,455
298.621
218,326
71,640
134,558
141,287
148,351
155,770
6,500
5,610
5,722
5,837
6,070
3,000
3,000
3,000
3,000
3,000
16,000
10,000
10,000
12,000
12,000
7,480
7,704
7,935
8,173
8,418
$
268,792
$ 385,202
$
474,759
$
515,D47
$
444,433
106,283
375,076
386.202
474,759
515,047
444,433
$
106,283
$ 0
$
(78,001)
$
(106,385)
$
(23,511)
208.879
315,162.14
315,162.49
237,161.94
130,777
315,162
315,162.49
237,161.94
130,776.59
107,265
64,213
79,142.34
65,858.28
74,086.92
74,087
$
250,949
236,020.15
151,303.66
56,689.67
$
33,178
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City of wort Worth, Texas
Mayor and Council Communication
DATE: 04/23/24 M&C FILE NUMBER: M&C 24-0327
LOG NAME: 17PID12 MIDYEAR FY24
SUBJECT
(CD 7) Adopt Ordinance Amending the Fiscal Year 2023-2024 Adopted Budget and Five -Year Service Plan for Fort Worth Public Improvement
District 12 — Chapel Hill and Adopt Attached 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 12 —
Chapel Hill 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 laterthan the seventh (7th) day after adoption by the City Council; and
2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District
12 - Chapel Hill Fund in the amount of $1,092.00, transferred from Economic Development Departments General Fund, for purpose of
funding City of Fort Worth 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 Ctty's PID management companies to oversee the services being provided within each of the PIDs.
PID 12 — Chapel Hill (or the Chapel Hill PID) is managed by FirstService Residential Texas PID, LLC (FirstService).
On September 12, 2023, City Council adopted Ordinance No. 26431-09-2023, approving the Fiscal Year (FY) 2023-2024 Budget, Five -Year
Service Plan, Assessment Plan, and Tax Year 2023 Assessment Roll for the Chapel Hill PID. After conducting a mid -year review of the Chapel Hill
PID's budget, City staff and FirstService Residential Texas PID, LLC, have identified the need to increase Chapel Hill PID's budget to account
for $1,092.00 of additional City payment in -lieu of assessments.
The City of Fart Worth Assessment is an allocation to the PID budget for assessments the City would pay on City -owned properties in the Chapel
Hill PID, if the City was not a tax-exempt entity.
Revenue adjustments:
Line items
Previously
Recommended
Amended
Ito be
Approved FY24
Mid Year
FY24 Budget
Adjusted
Budget Item
Adjustment:
Item
P[❑
Assessments
$373,983.00
$0.00
$373,983.00
COFW
Assessment
$1,092.00
$1,092.00
Totals11
$373,983.00
1 $1,092.00
$375,075.00
Expenditure adjustments:
Line Items
Previously
Recommended
Amended
to be
Approved FY24
Mid Year
FY24 Budget
Adjusted
Budget Item
Adjustment
Item
Contribution
to Fund
$105,191.00
$1,092.00
$106,283.00
Balance
Totals 11
$105,191.00
1 $1,092.00
$106,283.00
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 $375,075.00. This mid -year budget adjustment will increase the unaudited, unassigned fund balance by a total
of $1,092.00. 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 adjustment (City Secretary Contract No.60312 ).
Funding is budgeted in the Interfund Transfer Out account within the Community PID Admin Department within the General Fund for transferring to
the FWPID #12 - Chapel Hill Fund.
The Chapel Hill PID is located in COUNCIL DISTRICT 7.
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 above recommendations and adoption of the attached appropriation ordinance, funds
will be available in the current operating budget, as appropriated, in the FVVPID #12 - Chapel Hill 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
Oriciinatina Business Unit Head: Robert Stums 2663
Additional Information Contact: Lacey Ruiz 2608
Expedited