HomeMy WebLinkAboutOrdinance 26853-04-2024 (2)ORDINANCE NO.26853-04-202
AN ORDINANCE AMENDING THE FISCAL YEAR 2023-2024 BUDGET AND FIVE-
YEAR SERVICE PLAN FOR PUBLIC IMPROVEMENT DISTRICT NO. 15 — SUN
VALLEY; 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 August 21, 2012, the City Council of the City of Fort Worth ("City Council") r
authorized the establishment of Public Improvement District No. 15 — Sun Valley ("District'), as a public
improvement district in accordance with the Act and Resolution No. 4120-08-2012;
WHEREAS, on September 12, 2023, City Council adopted Ordinance No. 26435-09-2023, approving
the fiscal year (FY) 2023-2024 Budget, Five -Year Service Plan, Assessment Plan, and Tax Year 2023
Assessment Roll for the Sun Valley PID;
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. 26435-09-2023; 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.
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i"
Ordinance.No. 26851/04-2023
,$age '1 of 3
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SECTION 4.
This Ordinance is cumulative of all other ordinances and appropriations amending the same except in
those instances where the provisions of this Ordinance are in direct conflict with such other ordinances and
appropriations, in which instance said conflicting provisions of said prior ordinances and appropriations are
hereby expressly repealed.
SECTION 5.
The City Secretary is directed to cause a copy of this Ordinance to be recorded in the real property
records of Tarrant County, Texas no later than the seventh (7') day after the adopted date of this Ordinance.
SECTION 6.
This Ordinance takes effect and will be in full force and effect from and after the date of its passage.
AND IT IS SO ORDAINED.
APPROVED AS TO FORM
AND LEGALITY:
Nico Arias {Apr 26, 202415:21 CDT)
Nico Arias, Assistant City Attorney
M&C: 24-0329
Adopted and Effective: April 23, 2024
ATTEST:
Iy^ r kan4'2 P. aNZiZA'(4k
f r Ronald P. Gonzales (Apr 29, 2024 07:24 CDT)
lannette S. Goodall, City Secretary
,aa`'
O°
n
Ordinance No. 26853-04-2023
Page 2 of 3
REVENUES
PIS Assessmenl5
Total Budgeted Revenues
Use of Fund Balance
Total Funds Available for Use
EXPENSES
htdnagen*nt Fee
Vehicle Maintenance
Equipment Rental
Security Cameras
Security
Printing
Mariretin6
City Audit
City Administration Fee
Total "eted Expenses
ContrblUon to Fund Balance
TOW E.pen5e5
Net Change in Fund Balance
Font Bahr ce, BeAmnirj 01 Year
Estimated Fund Balance, End of Year
Reserve Req glrement5
over (Under) Reserve
EXHIBIT A
AMENDED SERVICE PLAN
CRY of Fort worth
Five Year Samce Plan
Public Improvement District No. 15 - San Valley
Fiscal Year 23124.27128 - Mid Year
FY 25124 FY 24125
S 15$.417 5 161,634 S
5 155A17 6 161,t34 S
3.687
FY 25'26 FY 26? 27 FY 27128
1 8.059 5 17a.n _'3 $ 181,816
168.099 S 174.823 $ 181.016
S 159.104
S
161,634
6
168.039
S
174,823
$
181.916
5 28.851
5
29.572
S
31.051
5
32 &A
S
34234
S 3,000
5
3,000
$
4,000
$
4,500
$
S,000
S 7,475
$
5,196
$
5,196
$
5,196
$
5,196
S 21,100
5
12,500
$
12,500
$
12,500
$
12,500
$ 91,770
5
101,633
$
104,740
S
108,827
$
112,750
S 300
S
500
$
750
$
750
$
1,000
5 500
S
3,000
$
3,500
$
3,700
$
4,000
$ 3,OW
$
3,000
$
3,000
$
3,250
$
31500
5 31108
5
3,233
$
3,362
S
3,496
$
31636
$
174,823
$
181,816
5
161,634
$
168,099
5 159,104
$ 159,104
$
161,634
$
168.099
5
174,829
$
181,816
$ (3,687)
$
a
5
u
5
(0)
$
M
$ 102,744
5
99,056
$
93,057
5
99,057
$
99,Q56
5 99,056
$
99,057
$
99,057
$
99,056
$
99,056
$ 26,944
$
23,915
$
23,915
$
23,915
$
23,915
$ 72,112
5
75,142
$
75,142
$
75,141
$
75,141
The total budgeted costs of the improvements and services for the District for fiscal year 2023-2024 are
$159,104,00, Of this amount, $155,417.00 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: $3,687.00
transferred from the unaudited, unassigned fund balance.
Ordinance No. 26853-04-2023
Page 3 of 3
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 04123/24 M&C FILE NUMBER: M&C 24-0329
LOG NAME: 17PID15 MIDYEAR FY24
SUBJECT
(CD 11) Adopt Ordinance Amending the Fiscal Year 2023-2024 Budget and Five -Year Service Plan for Public Improvement District 15 - Sun
Valley; Authorize Execution of Agreement with CP2 Consultants in the Amount of $28,851.00 to Manage the Public Improvement District; and
Adopt Appropriation Ordinance
RECOMMENDA11ON;
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 15 --
Sun Valley 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; and
2. Authorize the execution of an agreement with CP2 Consultants, in the amount of $28,851.00 to provide management of the improvements
and services for the Sun Valley Public Improvement District during Fiscal Year 2023-2024; and
3. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District
15 -- Sun Valley Fund in the amount of $3,687.00, 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 15 — Sun Valley (Sun Valley PID) is managed by CP2 Consultants, LLC (CP2).
On September 12, 2023, City Council adopted Ordinance No. 26435-09-2023, approving the Fiscal Year (FY) 2023-2024 Budget, Five -Year
Service Plan, Assessment Plan, and Tax Year 2023 Assessment Roll for the Sun Valley PID. After conducting a mid year review of the Sun Valley
PID's budget, City staff and CP2 have identified the need to increase the Sun Valley PID Budget by $3,687.00 to align expenses with actual
activities that are attributable primarily to increases in security for hourly rate adjustments and sales tax charges for equipment and decrease in
marketing and printing.
On January 22, 2024, Orasi informed the City of its decision to cease management of the Sun Valley PID and requested the termination of their
agreement. CP2 Consulting LLC has been selected to assume management responsibilities forthe PID, effective upon the approval of this
agreement.
Revenue Adjustments:
Line Items
Recommended
Amended
to be
Previously Approved
Mid Year
FY24
Adjusted
FY24 Budget item
Adjustment
Budget Item
Use of
Balance Fund
$0.00
$3,687.00
F
$-3,687.00I
Totals
$0.00
$3,687:0
$3,687,00
Expenditure Adjustments:
Line Items
Recommended
Amended
to be
previously Approved
Mid -Year
FY24
Adjusted
FY24 Budget Item
Adjustment
Budget Item
Security
Cameras
$18,500.00
$2,600.00
$21,100.00
uipment$5,196.00
r
$2,279.00
$7,475.00ntal
Security
$91,762.00
$8.00
$91,770.00!
Printing
$500.00
($200.00)
$300.00
Marketing
$1,500.00
($1,000.00)
$500.00
,'JITotals $117,458.0011 $3,687.001 $121,145.00;�
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 $159,104.00. This mid -year budget adjustment will decrease the unaudited, unassigned fund balance by a total
of $3,687.00. The revised Budget and Five -Year Service Plan will take effect upon approval by City Council.
Funding is available for appropriation in the fund balance of the FWPID #15 - Sun Valley Fund. The beginning balance is $187,198.98 after this
M&C, available balance will be $183,511.98.
The Sun Valley P1D is located in COUNCIL DISTRICT 11.
FISCAL INFORMATION 1 CERTIFICATION:
1
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 #15 -Sun Valley 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 b . William Johnson 5806
0rJainafiD_q Business Unit Head: Robert Stums 2663
Additional Information Contact: Lacey Ruiz 2608
Expedited