HomeMy WebLinkAboutOrdinance 26842-04-2024Ordinance No. Z$42-04-2024
AN ORDINANCE ADJUSTING APPROPRIATIONS IN THE FORT WORTH
PUBLIC IMPROVEMENT DISTRICT 6 — PARK GLEN FUND IN THE AMOUNT
OF $71,369.00, FROM AVAILABLE FUNDS 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 6 — Park Glen Fund in the amount of $71,369.00, from available funds transferred
from Paris 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said prior ordinances and appropriations are hereby expressly repealed.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:
ALL
Nico Arias (Apr 26. Z074 1510 GOT)
Assistant City Attorney
ADOPTED AND EFFECTIVE: April 23, 2024
CITY SECRETARY
for Ronald P. Gonzales
for Ronald P. Conn:es (Apr 29.2024 07:24 CDT) h� L
Jannette S. Goodall
City Secretaryttat'
o
City of Fort Worth
Five Year Service Plan FY24 - FY28
Public Improvement District No. 6 -Park Glen -Mid Year
FY23124
FY24125
FY25126
FY26127
FY27128
REVENUES
PID Assessments'
$
2,185,323
$
2,051,804
$
2,113,358
$
2,176,759
$
2,242,062
COFW Payment in lieu of Services
270,925
270,925
270.925
270,925
270,925
COFW Assessment
7,296
7,298
7,298
7,298
7,298
Total Budgeted Revenues
$
2,463,546
$
2,330,027
$
2,391,581
$
2,454,982
$
2,620,285
Use of Fund Balance
164,496
52,198
Total Revenues
$
2,628,042
$
2,330,027
$
2,391,581
$
2,507,180
$
2,520,285
EXPENSES
Management Fee
$
152.645
$
157,224
$
160,369
$
163,576
S
166,848
Utilities
220,000
199,757
202,735
204,152
211,984
Landscaping
1,321,561
1,097,237
1,057,479
1,138,952
1,047,600
Common Area Maintenance
297,000
146,000
327,000
81,000
243.000
Holiday Decoration
23,000
23,000
23,000
33,000
33,000
Security Enhancements
285,400
291,108
294,000
300.000
306,000
Communications
14,500
14.500
14,500
20,000
20,000
Public Events
46,000
45,000
52,000
62,800
62,800
Capital improvements
215,000
305,000
208,067
450,000
160,000
Annual Review
5,100
4,600
4,600
4,600
4,600
City Administrative Fee
47,836
46,601
47.832
49,100
50,406
Total Budgeted Expenses
$
2,628,042
$
2,330,027
$
2,391,581
$
2,507,180
$
2,306,237
Contribution to Fund Balance
214,047
Total Expense
$
2,628,042
$
2,330,027
$
2,391,581
$
2,507,180
$
2,520,285
Net Change in Fund Balance
$
(164,496)
$
0
$
(0)
$
(62,198)
$
-
Fund Balance, Beginning of Year (Estimated Yrs 2-5)
572,681
408,185
408,185
408,185
355,987
Estimated Fund Balance, End of Year
408,185
408,185
408,185
355.987
355,987
Reserve Requirement
388,415
374,658
417,947
384,450
384,450
Over (Under) Reserve
$
19,770
$
33,527
$
(9,762)
$
(28,463)
$
(28,463)
'FY2023 Assessment Rate = $.155 Residential! $.035 Commercial
Cjty of Fort Worth, Texas
Mayor and Council Communication
DATE: 04/23/24 M&C FILE NUMBER: M&C 24-0325
LOG NAME: 17PID06 MIDYEAR FY24
SUBJECT
(CD 4) Adopt Ordinance Amending the Fiscal Year 2023-2024 Adopted Budget and Five -Year Service Plan for Public Improvement District 6 -
Park Glen 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 6 —
Park Glen 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 Public Improvement District 6 -- Paris Glen Fund in the amount of
$71,369.00, from available funds 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
6 - Park Glen Fund by 1) increasing the use of fund balance in the amount of $164,496.00, 2) increasing revenue in the amount of
$401.00 transferred from the General Fund for the Economic Development Department, for the 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 PlD 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 6 -- Park Glen (Park Glen PID) is managed by FirstService Residential Texas PID, LLC (FirstService).
On September 12, 2023, City Council adopted Ordinance No. 2642M9 2023, approving the Fiscal Year (FY) 2023-2024 Budget, Five -Year
Service Plan, Assessment Plan, and Tax Year 2023 Assessment Roll for the Park Glen PID. After conducting a mid year review of the Park
Glen PID's budget, City staff and FirstService has identified the need to increase Park Glen PID's (City of Fort Worth) allocations by $236,266.00
to account for 1) $71,369.00 of additional payment in -lieu of services 2) $401.00 of additional City payment in -lieu of assessments and 3)
$164,496.00 use of fund balance. The primary factors contributing to expenditure adjustments include increased spending on landscaping,
maintenance, fence repairs, and significant capital improvement projects. These projects encompass the addition of monument lighting,
installation of playground sails, and upgrades to the baseball diamond.
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 forthe 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 Paris Glen PID budget for assessments the City would pay on City -owned properties in the Park Glen PID, if the City was not
a tax-exempt entity.
Revenue Adjustments:
Line Items to
Previously
Approved FY24
Recommended
Mid
Amended
FY24 Budget
be Adjusted
-Year
Budget Item
Adjustment
Item
PID
Assessments
$2,185,323.00
$0.00
$2,185,323.00
COFW
Payment in lieu
$199,556.00
$71,369.00
$270,925.00
of Services
COFW
Assessment
Use of Fund
$6,897.00
$401.00
$7,298.00
Balance1.
$0.00
$164,496.00
$164,496.00
Totals
$2,391,776.0011
$236,266.00
$2,628,042.00`
. Expenditure Adjustments:
Line Items to
Previously
Recommended
Amended
be Adjusted
Approved FY24
Mid Year
FY24 Budget
Budget item
Adjustment
Item
Utilities
$192,000.00
'000.0011
$220,000.001
Landscaping 11
$1,248,000.0011
$73.561.001
0
Common
Area
$215,000.00
$82,000.00
$297,000.00�
Maintenance
Capital
Improvements
$105,000.00
$110,000.00
$215,000.00
Contribution to
Fund Balance
$57,295 0
20 ($57,295.00)
$0.00
Totals _71$1,817,295.00
$236,266.00
$2,053,661.00
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 $2,628,042.00. This mid year budget adjustment will decrease the unaudited, unassigned fund balance by a
total of $164,496.00. The revised Budget and Five -Year Service Plan will take effect upon approval by City Council. The City and FirstService will
update the existing contract to reflect the mid -year adjustment (City Secretary Contract No. 60311).
Funding is available for appropriation in the fund balance of the FWPID #6 - Park Glen Fund. The beginning balance is $1,940,048.87, after this
M&C, available balance will be $1,775,552.87.
The Park Glen PID is located in COUNCIL DISTRICT4.
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 recommendations and adoption of the attached appropriation ordinance, funds will be
available in the current operating budget, as appropriated, in the FWPID #6 - Park Glen 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 InfQrmation-Contact: Lacey Ruiz 2608
Expedited