HomeMy WebLinkAboutOrdinance 26975-06-2024Ordinance No. 26975-06-2024
AN ORDINANCE ADJUSTING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE STORMWATER CAPITAL PROJECTS FUND, BY
INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE FWCC
5TH ST GREENLEAF SUMP PROJECT (CITY PROJECT NO. 103260) IN THE
AMOUNT OF S755,000.00 AND DECREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE FWCC GRAND AVE PH 2 PT 3 PROJECT (CITY
PROJECT NO. 103665) BY THE SAME AMOUNT; 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 the budget of the City of Fort Worth for Fiscal Year 2023-2024, as enacted by Ordinance 26453-09-
2023, as amended, is hereby further amended to make the following adjustments to estimated receipts and
appropriations in the Stormwater Capital Projects Fund, by increasing estimated receipts and appropriations
in the FWCC 5th St Greenleaf Sump project (City Project No. 103260) in the amount of $755,000.00 and
decreasing estimated receipts and appropriations in the FWCC Grand Ave Ph 2 Pt 3 project (City Project No.
103665 by the same amount.
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said prior ordinances and appropriations are hereby expressly repealed.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:
D., r r -& (1.13, I02410 59 cord
Assistant City Attorney
ADOPTED AND EFFECTIVE: June 25, 2024
CITY SECRETARY
Jannette S. Goodall
City Secretary 44�op�
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City of Fort Worth, Texas
Mayor and Council Communication
DATE: 06/25/24 M&C FILE NUMBER: M&C 24-0570
LOG NAME: 20SW GREENLEAF SUMP STORM DRAIN FUNDING
SUBJECT
(ALL) Adopt Appropriation Ordinances Reallocating Appropriations in the Fort Worth Central City 5th St Greenleaf Sump Project and Amend the
Fiscal Years 2024-2028 Capital Improvement Program
RECOMMENDATION:
It is recommended that the City Council:
1. Adopt the attached appropriation ordinance adjusting estimated receipts and appropriations in the Stormwater Capital Projects Fund by
increasing estimated receipts and appropriations in the Fort Worth Central City 5th St Greenleaf Sump project (City Project No. 103260) in
the amount of $755,000.00 and decreasing estimated receipts and appropriations in the Fort Worth Central City Grand Ave Ph 2 Pt 3
project (City Project No. 103665) by the same amount;
2. Adopt the attached appropriation ordinance adjusting estimated receipts and appropriations in the Stormwater Rev Bonds 2020 Fund by
increasing estimated receipts and appropriations in the Fort Worth Central City 5th St Greenleaf Sump project (City Project No. 103260) in
the amount of $3,000,000.00 by decreasing estimated receipts and appropriations in Fort Worth Central City Grand Ave Ph 2 Pt 3 project
(City Project No. 103665) by the same amount; and
3. Amend the Fiscal Years 2024-2028 Capital Improvement Program.
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to reallocate appropriations in the Stormwater Capital Projects Fund and
Stormwater Revenue Bonds 2020 Fund to support payment of current expenses in the Fort Worth Central City (FWCC) 5th St Greenleaf Sump
project (City Project No. 103260).
On April 18, 2023, Informal Report (IR) 23-0865 was issued to discuss the FWCC stormwater and water project costs and reimbursement plan.
The 1R explained haw funding for FWCC drainage projects would be appropriated from existing Stormwater projects to meet the Corps of
Engineer's FWCC critical path schedule. To minimize impacts to Stormwater capital projects, Stormwater worked with the Finance Department
and the City's Financial Advisors to explore alternative funding mechanisms including the creation of a new Commercial Paper Program for the
Stormwater Fund. On June 27, 2023, City Council approved the establishment of a cost-effective liquidity program using Commercial Paper to
assist with the award of contracts for the City's stormwater capital projects that will be financed via long-term debt or subject to reimbursement —
such as the FWCC drainage improvements —to enable the efficient, cost-effective and timely implementation of capital improvements. (M&C 23-
0604).
The total construction cost of the FWCC 5th St Greenleaf Sump project (City Project No. 103260) is $6,245,404.00. The City was issued a
reimbursement letter from Tarrant Regional Water District (TRDD) on August 8, 2023 expecting full reimbursement of the project construction cost.
However, on February 7, 2024, the TRWD issued an amended reimbursement letter titled 103260 Greenleaf Sump Storm Drain Amended
Reimbursement letter notifying the City that the total available Stormwater budget for the FWCC 5th St Greenleaf Sump project (City Project No.
103260) was reduced from $6,245,404.00 to $3,124,823.00 due to funding reimbursement constraints for the overall FWCC Project. Therefore,
reimbursement for the FWCC 5th St Greenleaf Sump project (City Project No. 103260) project costs via the TRWD 1 City annual reimbursement
process is capped at $3, 124,823.00.
Commercial Paper cannot be used to advance the portion of the project not annually reimbursable by TRWD. Having exhausted the share of the
local program budget allocated to Stormwater infrastructure relocation, the $3,120,581.00 portion of this contract will not be included in the annual
reimbursement process between the City and the TRWD. Rather, these costs will be eligible for reimbursement directly from future Trinity River
Vision (TIF) revenue after prior commitments of the TIF have been satisfied. Once reimbursement associated with this project is received, those
funds will be used to reimburse the Stormwater utility.
Funding forthis project was included in the FY2024 2028 Capital Improvement Program for year 2024. Accelerated funding is needed for this
project due to limiting expenses on Commercial Paper to align with reimbursement from TRWD. This action in this M&C will amend the FY2024-
2028 Capital Improvement Program as approved in connection with Ordinance 26453-09-2023.
Upon approval of this M&C, Stormwater Capital Project funding and 2020 Stormwater Revenue Bond funding will be moved into the FWCC 5th St
Greenleaf Sump project (City Project No. 103260) in the amount of $3,755,000.00 to cover the amount not annually reimbursable. This includes
additional funding above the previous reimbursable amount to account for contingencies. A future M&C will then be brought to council to reduce
the existing Commercial Paper funding by the same amount, based on the expected annual reimbursement by TRWD.
Fund Name ,ICurrent Appropriations 11 Budget Adjustment 11 Totals
30104 — Developer Contribution (CPN 103260)
$58,065.00
$0.00
$58,065.00
52002 — Stormwater Capital Projects (CPN 103260)
$101,261.00
$755,000.00
$856,261.00
52007—Stormwater Revenue Bonds 2020 (CPN 103260)
$393,675.00
$3.000,000.00
$3,393,675.00
52008 — Drainage Rev Bonds Series 2023 (CPN 103260)
$1,000,000.00
$0.00
$1,000,000.00
520D9 — Stormwater Commercial Paper (CPN 103260)
$7,237,351.00
$0.00
$7,237,351.00
Project Total
$12,645,352.00
This M&C will serve ALL COUNCIL DISTRICTS.
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 funds are currently available in Stormwater Capital Projects Fund and Stormwater Revenue Bonds 2020
Fund and upon approval of the above recommendations and adoption of the attached appropriation ordinance, funds will be available in the
Stormwater Capital Projects Fund and Stormwater Revenue Bonds 2020 Fund for the FWCC 5th St Greenleaf Sump project. Prior to an
expenditure being incurred, the Transportation and Public Works Department has the responsibility of verifying the availability of funds.
Su tted_for City Manager's Office 6k Jesica McEachem 5804
Originating Business Unit Head: Lauren Prieur 6035
Additional Information Contact: Monty Hall 8662
Expedited