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Home My WebLink AboutResolution 5998-08-2024A Resolution NO.5998-08-2024 AUTHORIZING AND EXPANDING FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 18 (TOURISM PID) TO INCLUDE AN ADDITIONAL HOTEL AND TAKING CERTAIN OTHER ACTIONS CONCERNING THE DISTRICT WHEREAS, the Public Improvement District Assessment Act, Chapter 372 of the Texas Local Government Code ("Act") allows for the establishment of public improvement districts; WHEREAS, on August 29, 2017, the City Council adopted Resolution No. 4837-08- 2017, establishing Fort Worth Public Improvement District 18 — Tourism ("Tourism PID") ("Establishing Resolution"); WHEREAS, on August 18, 2020, April 13, 2021, September 14, 2021, and April 12, 2022 the City Council adopted Resolution Nos. 5264-08-2020, 5382-04- 2021, 5467-09-2021, 5561-04-2022, and 5958-05-2024 respectively, expanding the boundaries of the Tourism PID (Resolution Nos. 5264-08-2020, 5382-08-2021, 5467- 09-2021, 5561-04-2022, and 5958-05-2024 are collectively referred to as the "Expansion Resolutions"); WHEREAS, Section 372.0121 of the Act, as amended by the 87" Texas Legislature (2021) through Senate Bill 804, allows the City Council to include additional properties in the Tourism PID if the property is ahotel and (ii) asufficient number of the record owners of the real property currently included and proposed to be included in the Tourism PID have consented to be included in the Tourism PID by signing the original petition to establish the Tourism PID or by signing a petition or written consent to include property in the Tourism PID; WHEREAS, the number of consenting record owners is sufficient if (1) the record owners own more than 60% of appraised value of taxable real property liable for assessment in the Tourism PID; and either (i) constitute more than 60% of all record owners of taxable real property liable for assessment in the Tourism PID, or (ii) own, in aggregate, more than 60% of the area of all taxable real property liable for assessment in the Tourism PID; WHEREAS, another expansion petition ("Petition") was submitted to the City of Fort Worth, Texas ("City"), pursuant to the Act, requesting to expand the Tourism PID boundaries to include an additional hotel property within the Tourism PID and has been on file in the office of the City Secretary for public inspection; WHEREAS, pursuant to Section 372.009 of the Act, the City provided notice and publication of two public hearings to be conducted on August 27, 2024 and September 17, 2024 to consider the expansion of the Tourism PID ("Public Hearings"), which notice and publication included the following: (i) time and place of the Public Hearings; (ii) general nature of the proposed improvements and services; (iii) estimated costs of the improvements and services; (iv) expanded boundaries of the Tourism PID; (v) proposed method of assessment; and (vi) proposed apportionment of cost between the additional hotel property in Tourism PID and the City; WHEREAS, notice of the Public Hearings was published on August 9, 2024 in the Fort Worth Star -Telegram, a newspaper of general circulation in the City, and was also mailed on August 9, 2024 to all record owners of property in the Tourism PID liable for assessment, and all persons desiring to be heard were given a full and fair opportunity to be heard at the Public Hearing; WHEREAS, the City Council conducted and adjourned the Public Hearing to consider 'the expansion of the Tourism PID; and NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: 1. Recitals. The findings set forth in the recitals of this Resolution are found to be true and correct. 2. Findings. The City Council, after duly considering the evidence and testimony presented at the Public Hearings and based on all information known by the City Council, hereby makes the following findings: 2.1 Petition and Boundaries. (a) The current boundaries of the Tourism RID consist of noncontiguous areas authorized under Section 372.0035 of the Act consisting solely of hotel properties with 100 or more rooms ordinarily used for sleeping within the City of Fort Worth. The Iists of the original and additional hotels that are included within the boundaries of the Tourism PID are included in the Establishing Resolution and Expansion Resolutions, respectively. (b) As set forth in the Recitals above, the Act allows the City Council to include additional properties in the Tourism PID if the required elements are satisfied. As evidenced below, the hotel property set forth in Exhibit °` which is attached hereto and incorporated herein for all purposes ("Additional Hotel Property"), meets the necessary elements for inclusion into the Tourism PID. (i) The Additional Hotel Property to be included in the Tourism PID as part of this Resolution is a hotel property. (ii) A sufficient number of record owners of the real property currently included and proposed to be included in the Tourism PID have consented to be included in the Tourism PID by signing the original petition to establish the Tourism PID or by signing a petition or written consent to include property in the Tourism PID. Specifically, the number of consenting record owners exceeds the thresholds required by the Act, which is evidenced by the following: (1) 80.54% of appraised value of taxable real property liable for assessment, (2) 66.67% of record owners of taxable real property liable for assessment, and (3) 69.63% for the area of all taxable real property liable for assessment. 2.2 .Advisability and Feasibility of the Improvements and Services Proposed for the Tourism PID. It is advisable to expand the Tourism PID to include the Additional Hotel Property to provide the proposed improvements and services described in the Petition and this Resolution. The improvements and services will promote the interests of the City and confer a special benefit on the assessed properties within the Tourism PID. The Fort Worth Convention and Visitor's Bureau staff performed' an analysis of the Tourism PID, its service plan and strategies, and concluded that it provides a very effective means for significantly enhancing the ability of Fort Worth to promote its hotel, convention, and tourism activity, which has been borne out since the Tourism PID's establishment. Based on this analysis and the successful history of the Tourism PID, the City finds the proposed tourism public improvement district to be both advisable and feasible. 2.3 Nature of the Improvements and Services. The general nature of the proposed improvements and services to be provided within the expanded boundaries of Tourism PID include, without limitation, marketing, business recruitment, and promotional activities authorized by the Act for improvements and promotion of the Tourism PID, including, but not limited to, the provision of incentives by the Fort Worth Convention and Visitors Bureau to organizations to encourage them to bring large and city-wide events (including, without limitation, meetings, sporting, recreation, and cultural events) to Fort Worth and to fund additional marketing by the Fort Worth Convention and Visitors Bureau to increase hotel stays within the City. 2.4 Estimated Cost of the Improvements and Services. Over the four (4) year period beginning on October 1, 2023 and ending on the expiration of the Tourism PID as provided in Section 3, the estimated total cost of the improvements and services to be provided by the Tourism PID will be $29,810,000.00, which includes an estimated cost of $7,000,000.00 for the 2023-2024 fiscal year. For the 2024-2025 fiscal year, the estimated costs of the above -referenced improvements and services, and estimated costs to implement such improvements and services are: Incentives and Sales Efforts $3,782,675 Marketing and Research (Promotion/Advertising) $2, 570,750 Site Visits & Familiarization Tours $ 146,900 Cultural Enhancements through Marketing and Promotion of the Arts $550,875 Operations and Administration $293,800 City Administrative Fee $55,000 Total $7,400,000 On May 21, 2024, the City Council adopted the fiscal 2023-2024 budget and six- year service plan, the same being Ordinance No. 26928-05-2024. The inclusion of the Additional Hotel Property will not affect the adopted budget. Such costs will be paid from assessments levied in accordance with the Act. The six -year service plan proposed for the Tourism PID is attached hereto as "Exhibit B" ("Service Plan") and incorporated herein for all purposes. The Service Plan, budget, and assessment amount are subject to annual review and approval by the City Council. 2.5. Method of Assessment. The costs of the improvements and services will be funded from assessments levied on and collected from properties located in the Tourism PID that contain hotels of one hundred (100) or more guest rooms and that are subject to payment of City hotel occupancy taxes pursuant to Chapter 32, Article 11 of the City Code, as amended. The City will levy a special assessment against the new hotel property located within the expanded boundaries of the Tourism PID ("Hotel Parcel") in an amount equal to two percent (2%) of the consideration received for occupancy of any sleeping rooms furnished by the new hotel on the Hotel Parcel (subject to any lawful exemption of the hotel occupancy tax under applicable state law and City ordinances), with such assessments to be collected in the same manner and in accordance with the same procedures as those established for collection of the City's hotel occupancy tax, as set forth in Chapter 32, Article II of the City Code, as amended. The collection of assessments will begin on the earliest date allowed by the Act and continue to be collected at the same time hotel occupancy taxes are collected. The City Council hereby finds that the proposed method of assessment is reasonable and necessary. 3.6. Apportionment of Costs Between the Tourism PID and the City, as a Whole. The apportionment of costs between the Tourism PID, inclusive of the Additional Hotel Property, and the City, as a whole, is as follows: (a) The entire cost of each improvement and service will be paid from assessments levied in accordance with the Act. (b) No City funds will be used to pay any portion of the cost of any improvement or service, unless such funding is approved from the City Council or other appropriate municipal authority on a case -by -case basis. 3. Inclusion of Additional Hotel Property within the Tourism PID; Term. Based on the findings set forth above, the City Council authorizes the expansion of the boundaries of the Tourism PID to include the Additional Hotel Property. The inclusion of the Additional Hotel Property within the Tourism PID takes effect on the date on which this Resolution is adopted by the City Council and will expire concurrently with the expiration date set forth in Section 3 of the Establishing Resolution. The expansion of the Tourism PID is subject to all conditions, limitations, and reservations set forth in the findings in Sections 1 and 2. All other provisions of this Resolution will be effective from and after adoption of this Resolution. 4. Advisory Body. The City Council hereby declines to appoint an advisory body for the expanded Tourism PID boundaries pursuant to Section 372.008 of the Act. The City Council hereby reserves the right to assign responsibility for preparation of the ongoing service plan for the PID to another entity in the absence of such an advisory body, as authorized by Section 372.013(a) of the Act. ADOPTED this 27' d a y of August, 2024. ATTEST: Jannette S. Goodall, City Secretary EXHIBIT A Expanded Boundaries of the Tourism PID (Additional Hotel Property) Account Name Address City, State, Zip RMS Avid Hotel -Trinity Uptown 320 Samuels Ave. Fort Worth, TX 76107 240 EXHIBIT B Service Plan City of Fort Worth Three Year Service Plan Public Improvement district No.18 - Tourism REVENUES PID Assessments Total Funds Available for Use EXPENSES Incentives & Sales Efforts Marketing and Research (Promotion/Advertising) SiteVsits & Familiarization Tours Cultural Enhancements through Marketing and promotion of the Arts Operations &Administration City Administrative Fee Total Budgeted Expenses Contribution to Fund Balance Total Expanses Net Change in Fund Balance Fund Balance, Beginning of Yea-Esfimated Estimated Fund Balance, End of Year Reserve Requirement Over (Under) Reserve PY24126 FY251226 $ 7,400,000 $ 7.770,000 FY26f27 S 8,160,000 � $ 7.400,000 $ 7,770,000 $ 8,160,000 $ 3,782,675 $ 3,973,225 S 4.174,075 2,570,750 2,700,250 2,836,750 146,90U 154, $00 162,100 550,875 578,625 607,875 293,800 308.600 324,200 65,000 55,000 55,000 $ 7.400,000 $ 7.770,000 $ 8,160,000 $ 7A00,000 $ 7,770.000 $ 8,160.000 4618,056 6,516,056 6,516,056 6,616.056 6,516,056 6,516,056 1.295,259 1.360.272 1,360,272 $ 5,220.797 $ 5.155.784 $ 5.155,784 Tourism PID Hotels Updated as of 8.27.2024 Account Name Address City, State, Zip RMS AC Hotel Fort Worth - Downtown 610 Main St Fort Worth, TX 76102 252 Aloft Downtown Fort Worth 300 Throckmorton Fort Worth, TX 76102 180 American Airlines Training and Conference Center 4601 State Hwy 360 Fort Worth, TX 76155 299 Autograph Collection Downtown Fort Worth 512 Main St. Fort Worth, TX 76102 165 * Avid Hotel 320 Samuels Ave. Fort Worth, TX 76102 104 Bowie House 3700 Camp Bowie Blvd. Fort Worth, TX 76107 106 Budget Suites of America - Fossil Creek 3500 NE Loop 820 Fort Worth, TX 76137 366 Candlewood Suites - DFW South 4200 Reggis Drive Fort Worth, TX 76155 174 Courtyard by Marriott - Alliance 3001 Amador Dr. Fort Worth, TX 76244 127 Courtyard by Marfiott -Blackstone 609 Main Street Fort Worth, TX 76102 203 Sonest Select (Previously Courtyard byMardott- Fossil Creek) 3751 NE Loop 820 Fort Worth, TX 76137 154 Courtyard by Marriott- Stockyards 2537 Main St. Fort Worth, TX 76164 124 Courtyard by Marriott - University Drive 3150 Riverfronl Fort Worth, TX 76107 130 Courtyard by Marriott - West at Cityview 6400 Overton Ridge Boulevard Fort Worth, TX 76132 104 Dalworth Inn 812 E. Felix Street Fort Worth, TX 76115 120 DFW Airport Marriott South 4151 Centreport Boulevard Fort Worth, TX 76155 295 DFW Marriott Hotel and Golf Club at Champions Circle 3300 Championship Pkwy Fort Worth, TX 76177 286 Embassy Suites Hotel - Downtown Fart Worth 600 Commerce Street Fort Worth, TX 76102 156 Extended Stay America - City View 5065 Bryant Irvin Rd Fort Worth, TX 76132 104 Fairfield Inn & Suites Downtown 1010 Houston Fort Worth, TX 76102 110 Fairfield Inn & Suites Fossil Creek 3701 NE Loop 820 Fort Worth, TX 76137 106 Four Points by Sheraton Fort Worth 6828 North Freeway Fort Worth, TX 76137 113 Hampton Inn and Suites - West11-30 2700 Green Oaks Fort Worth, TX 76116 105 Hampton Inn and Suites - DFW South 4201 Reggis Court Fort Worth, TX 76155 116 Hampton Inn and Suites Downtown Fort Worth 1001 Commerce St. Fort Worth, TX 76102 245 Hilton Fort Worth 815 Main Street Fort Worth, TX 761102 294 nn - Fort Worth Alliance Airport 12600 Westport Parkway (Fort Worth, TX 76177 1127 Hilton Garden Inn - Medical Center 912 Northton Street Fort Worth, TX 76104 157 Holiday Inn - DFW Airport South 14320 Centre Station Road Fort Worth, TX 76155 143 Holiday Inn Express - Downtown 1111 W Lancaster Fort Worth, TX 76102 132 Holiday Inn North - Fossil Creek 4635 Gemini Place Fort Worth, TX 76106 126 Home2 Suites by Hilton - Cultural District 3000 & 3012 W Lancaster Ave Fort Worth, TX 76107 114 Homewood Suites - Fossil Creek 3701 Tanacross Fort Worth, TX 76137 137 Homewood Suites - Medical Center 2200 Charlie Lane Fort Worth, TX 76104 157 Hotel Drover, Autograph Collection 200 Mule Alley Drive Fort Worth, TX 76164 200 Hyatt Place - Alliance Town Center 3201 Alliance Town Center Fort Worth, TX 76177 130 Hyatt Place - Cityview 5900 Cityview Street Port Worth, TX 76132 127 Hyatt Place - Stockyards 132 E Exchange FortWorth, TX 76164 100 Hyatt Place - TCU 2500 West Berry Street Fort Worth, TX 76109 127 Kmpton Hotel 714 Main St Fort Worth, TX 76102 232 La Quinta Inn and Suites - Fort Worth North 2501 Polaris Dr Fort Worth, TX 76137 133 La Quinta Inn and Suites - Southwest 6100 Overton Ridge Fort Worth, TX 76132 128 Omni Fort Worth Hotel 1300 Houston Fort Worth, TX 76102 614 Quality Inn and Suites - Cattle Baron 2700 S Cherry Lane Fort Worth, TX 76116 109 Holiday Inn (Previously-Radisson - Fort Worth South Hotel) 100 Alta Mesa East Fort Worth, TX 76134 247 Radisson Hotel - Fort Worth Fossil Creek 2540 Meacham Street Fort Worth, TX 76106 247 Residence Inn - Alliance Airport 13400 North Freeway Fort Worth, TX 76177 111 Residence Inn - Cultural District 2500 Museum Way Fort Worth, TX 76107 150 Residence Inn - Fossil Creek 5801 Sandshell Drive Fort Worth, TX 76137 114 Residence Inn -Waterside 5825 Arbodawn Drive Fort Worth, TX 76109 119 Sandman Signature Hotel 810 Houston Street Fort Worth, TX 76102 240 Sheraton Fort Worth Hotel and Spa 1601 Commerce Street Fort Worth, TX 76102 429 SpringHill Suites by Marriott - Stockyards 2315 N Main St FortWorth, TX 76164 170 SpringHill Suites by Marriott - University 3250 Lovell Street Fort Worth, TX 76107 145 TownePlace Suites Downtown 801 E Belknap Fort Worth, TX 76102 140 TownePlace Suites University 3450 W Vickery Fort Worth, TX 76107 128 WoodSpring Suites Fort Worth 3501 NE Loop 820 Fort Worth, TX 76137 121 Worthington Renaissance Hotel 200 Main Street Fort Worth, TX 76102 504 Total U of Hotels: 58 • New Hotel Addition TAD ROLL MARRIOTT AC HOTEL MARRIOTT AC HOTEL AMERICAN AIRLINES TRAINING AND CONF CE SINCLAIR AUTOGRAPH COLLECTION HOTEL TWAIN GL XIII LLC SINCLAIR HOTEL BUDGET SUITES CANDLEWOOD SUITES COURTYARD MARRIOT COURTYARD BY MARRIOT DOWNTOWN FT WORTH BLACKSTONE COURTYARD BY MARRIOT DOWNTOWN FT WORTH BLACKSTONE COURTYARD BY MARRIOTT FC COURTYARD BY MARRIOT COURTYARD BY MARRIOTT FW COURTYARD BY MARRIOT DALLAS NORTH INN MARRIOTT DFW AIRPORT SOUTH DFW MARRIOTT HOTEL AND GOLF CLUB AT CHAMPIONSHIP CIRCLE EMBASSY SUITES BY HILTON DOWNTOWN FORT W ORTH EXTENDED STAY AMERICA EXTENDED STAY AMERICA DOWNTOWN FAIRFIELD INN AND SUITES FAIRFIELD INN FOUR POINTS BY SHERATON FORTWORTH HAM PION INN & SUITES DOWNTOWN HAMPTON INN AND SUITES HAMPTON INN & SUITES HILTON FORT WORTH HILTON FORT WORTH HILTON FORT WORTH HILTON FORT WORTH HILTON GARDEN HILTON GARDEN INN HILTON GARDEN INN HOLIDAY INN HOLIDAY INN EXPRESS HOLIDAY INN HOME 2 SUITES BY HILTON HOME 2 SUITES BY HILTON HOMEWOOD SUITES HOMEWOOD SUITES HOTEL DROVER MARRIOTT HYATT PLACE (PCTC 2020) HYATT PLACE HYATT PLACE STOCKYARDS HOTEL HYATT PLACE ICU KIMPTON HARPER HOTEL KIMPTON HARPER HOTEL KIMPTON HARPER HOTEL LA QUINTA INN LA QUINTA INN LA QUINTA INN Petition Received TAD Acc=umbe Pro e A Owner otat lsed Total Taxable New Constr 00005193 601 HQUS70N ST 1S FW HOTEL LLC 16,250,000 16,250,000 0 0.115 OGS78705 610 MAIN ST 1S FW HOTEL LLC 16,250,000 16,250,000 0 0.115 v 05978130 450DAMERICAN BLVD AMERICAN AIRLINES INC 240,000,000 240,DO0,000 45 44.860 Y 42705848 MAIN 5T SINCLAIR HOLDINGS LLC 28,000,000 28,000,000 0 0.000 Y 00004502 512 MAIN ST TWAIN GL %III LLC 675,000 675,000 0 0.172 N 07408749 350D NE LOOP 920 DESERT PINES ASSOC 14,692,000 14,692,000 7 6.968 N 41170903 4200 REGGIS CT FOUR2NINE HOLDINGS LLC 11,273,496 11,273,496 4 4.281 Y 42040025 3001 AMADOR DR AIX HOTEL NO, 1 LTD 13,400,000 13,400,000 4 3.983 Y 04659287 609 MAIN ST SUMMIT H OSPITALITY 140 LLC 1,000,000 1,000,000 0 0.230 Y 04659295 601 MAIN ST SUMMIT HOSPITALITY140 LLC 22,5DD,000 22,S00,000 0 0,230 Y 06887201 3751 NE LOOP 820 AJNM FOSSIL CREEK LLC 6,000,000 6,000,000 3 3.433 Y 41720091 2537 N MAIN ST APPLE NINE HOSPITALITY OWNER; 16,750,000 16,750,000 2 2.210 Y 06287158 3150 RIVERFRONT OR CM6-GROUND (MULTI) LLC 12,967,054 12,967,054 4 3,977 Y 41331S67 6400OVERTON RIDGE BLVE FW WEST HOTEL LP 8,7DO,D00 8,700,000 3 3.012 N 02865254 812. E FELIX ST ONE SAL LLC 1,430,000 1,430,000 3 2.882 N 07323476 4151 C€NTREPORT DR CP DFW AIRPORT LLC 47,DDO,000 47,DOO,000 9 8.SM O'REILLY HOTEL PARTNERS - Y 220283 3300 CHAMPIONSHIP PKW) CHAMPOINS CIRC 27,204,947 27,204,947 0 14.340 V 046S9309 600 COMMERCE ST AVR FORT WORTH HOTEL LLC 25,575,245 25,575,245 0 0.459 N 07245203 5065 BRYANT IRVIN RD 6D92 CITY VIEW FT WORTH TX HO' 4,587,265 4,587,265 3 3.123 N 07245211 5065 BRYANT IRVIN RD 6092 CITY VIEW FT WORTH TX HC: 27,279 27,279 0 0.060 Y 4223469S 1010 HOUSTON ST M2 FORT WORTH DOWNTOWN LL 8,721,870 8,721,870 1 0.588 Y 06964702 3701 NE LOOP820 MDT286INC 7,340,029 7,34D,029 2 2.004 Y 42011670 6828 NORTH FWY AJNM INVESTMENT LLC 81000,000 8,000,OW 2 1.999 N 4117D962 4201 REGGIS CT AIRPORT SOUTH HOTELS LP 9,868,000 9,868,000 3 2.862 N 00005959 1001 COMMERCE ST FORT WORTH DOWNTOWN LODG 32,013,988 32,013,988 1 0.918 Y 07217021 2700 GREEN OAKS RD GREEN OAKS HOSPITALITY LLC 7,564,341 7,564,341 2 2.084 Y 00005711 915 MAIN ST NEW FORT TOWER I HOTEL LTD 35,597,567 35,597,567 1 0.689 Y D6769543 815 MAIN ST ELIZABETH JEAN VOSS FAMILYTRL 900,DDO 900,DD0 0 0.230 Y 06769667 919 COMMERCE ST FORT TOWER I ASSOC HOTEL L P 300,000 300,000 0 0.000 Y 0676967S 916 MAIN ST FORT TOWER f ASSOC HOTEL L P 275,000 27S,D00 0 0.000 N 41S40883 912 NORTHTON ST APPLE HOSPITALITY FTW NORTHEI 18,430,000 18,43D,000 2 1.505 N 41483073 2600 WESTPORT PKVVY 1MR ALLIANCE GROUP LP 10,814,000 10,814,000 5 4.809 N 41499D18 26W WESTPORTPKWY JMRALLIANCE GROUP LP 68,932 68,932 0 0.211 N 41170811 14320 CENTRE STATION DR FOUR2NINE HOLDINGS LLC 10,265,000 10,265,000 3 2,991 Y 41595408 1111 W LANCASTER AVE PINNACLE MISSION VALLEY LP 12,225,DOO 12,225,000 1 0,942 N 41184475 4635 GEMINI PL DFW HOTEL GROUP LLC 6,250,000 6,250,000 3 2.500 Y 03254127 3000 W LANCASTER AVE BCH FORT WORTH PARTNERS LLC 97S,000 975,000 0 0,448 Y 03254151 3012 W LANCASTER AVE BCH FORT WORTH PARTNERS LLC 20,OS5,770 20,055,770 1 0,770 N D7039778 3701 TANACROSS DR NEWCRESTIMAGE CAPITAL VI LLC 7,G78,000 7,D78,000 3 3.345 N 41595378 2200CHARLIE LN APPLE HOSPITALITY FTW CHARLIE 12,300,000 12,300,000 1 1.42S Y 42544481 200 MULE ALLEY DR STOCKYARD STATION HOTEL II LLC 107,782,288 107,782,288 3 3.187 Y 42064391 3201 ALLIANCE TOWN CEN- MOON HOTEL ALLIANCE INVESTM 11,267,296 11,267,296 3 3.444 Y 07031963 5900C7YVIEW BLVD CITYVIEW HOSPITALITY LLC 9.300,000 9,300,000 3 2.715 Y 40617823 132 E EXCHANGE AVE STOCKYARDS STATION HOTEL LP 17,700,000 17,700,000 2 2,430 Y 42SS1691 2500 W BERRY ST TEXAS CHRiSTIAN UNIVERSITY 28,118,000 28,118,000 3 3.420 Y 00005517 714 MAIN ST FORT WORTH CITY OF 904,950 - 0 0.231 Y MAIN ST 714 MAIN REAL ESTATE HOLDING! 29,861,965 29,861,965 D 0.000 Y MAIN ST 714 MAIN REAL ESTATE HOLDING`. 9D0,D00 - 0 0.231 Y 06890687 2501 POLARIS DR TRINITY HOTELLLC 8,669,198 8,669,188 2 2.471 Y 06890695 4750NORTH FWY TRINITYHOTELLLC 13,812 13,812 0 0,453 Y 06929699 6100OVERTON RIDGE BLVE P&R HOTELS LLC 4,591,047 4,591,047 2 1.542 ■ ..�. - -- -d. - - - - - -oll. - _ - LA QUINTA INN Y 06929702 6100OVERTON RIDGE BLVC P&R HOTELS LLC 3,935,587 3,935,587 2 1.651 OMNI CONVENTION HOTEL Y 41389336 1300 HOUSTON 51# SDO OMNI FORT WORTH PARTNERSHIP 4,600,000 4,600,000 2 2, 112 OMNI CONVENTION HOTEL Y 41389360 1300 HOUSTON ST# 140 OMNI FORT WORTH PARTNERSHIF 136,228,366 136,229,366 0 0.000 ONE CITY PLACE y 42192739 300 THROCKMORTON ST CPAL180 LLC 24,500,000 24,500,OD0 0 D.000 ONE CITY PLACE Y 42192747 300 THROCKMORTON ST SREP-OCPFWTX LLC 24,000,000 24,000,000 0 0.000 QUALITY INN AND SUITFS N 06151973 2700 CHERRY LN SAI FORT WORTH HOTEL LLC 3,678,000 3,679,000 2 3.120 RADDISSON Y 04901398 254D MEACHAM BLVD FWRFC LLC 14,487,000 14,487,000 6 6.253 THE OLIVE HOTEL Y 04977203 100 E ALTAMESA BLVD MOMENTUM FORT WORTH iNVES 11,561,000 11,561,000 7 7.000 MARRIOT RESIDENCE INN N 40739449 2500 MUSEUM WAY VARICK 2 LLC 15,968,266 15,968,266 2 2,371 RESIDENCE INN FORT W ORTH ALLIANCE AIRPORT RESIDENCE INN BY MARRIOTTFC N 07120826 13400 NORTH FWY ALLIANCE HOTEL If LTD 9,000,000 9,000,000 3 2.500 RESIDENCE INN WATERSIDE N Dfi839703 58GI SANOSHELL DR HPTMI PROPERTIESTRUST 8,300,000 8,300,000 3 2905 Y 42052964 5825 AR80RLAW N DR FORT WORTH WATERSIDE LODGIN 16,800,D00 16,800,000 3 2.971 SANDMAN SIGNATURE HOTEL Y 40735877 810 HOUSTON ST NORTHLAND DEVELOPMENTS 1 25,941,709 25,941,709 1 0.91B SHERATON FW DOWNTON Y 00695755 1601 COMMERCE ST 1701 COMMERCE ACQUISITION LL 31,200,000 31,200,000 2 2.102 SPRINGHILL SUITES Y 008254332315NMAIN ST OGC MAIN STREET tP 28,149,591 28,149,581 3 3,274 SPRINGHILL SUITES MARRIOT Y D7979463 3250 LOVFLL AVE SH5 FORT WORTH LLC 10,262,000 10,262,000 2 2,372 MARRIOTTTOWNEPLACE SUITES N 41475933 901 E BELKNAP ST APPLE NINE HOSPITALITY OWNER; 11,449,075 11,449,075 2 1.987 TOWN PLACE SUITES Y 42126752 3450 W VICKERY BLVD M2 FORT WORTH UNIVERSITY LLC 10,600,000 10,600,000 2 1.851 WOODSPRINGS SUITES N 41I85153 3501 NF LOOP 82D FOSSIL CREEK W55 LLC 4,887,157 4,887,157 2 1,681 WORTHINGTON HOTEL Y 07355998 200 MAIN ST DRH WORTHINGTON OWNER LP 83,160,000 83,160,000 3 3.122 BOWIE HOUSE HOTEL y 43101979 3700 CAMP BOWIE BLVD BOWIE PLACE PROPERTIES LLC - 0 BOWIE HOUSE HOTEL y 43101987 3700 CAMP BOWIE BLVD BOWIF PLACE PROPERTIES LLC - 0 1.3160 AVM HOTEL Y 42678176 370 SAMUELS AVE TRINITY BLUFF HOSPITALITY tLC 8,108,779 8108779 1 0.000 1.484 Value % Land Area % # of Properties 56 Total 1,429,249,849 100% 202.102 100 % 58 1001/. 60% 857,549,909 60% 121.2622 60% $4.8 60% 'Confirmed 11189,8691391 83.25% 142.1235 70.32% 39 67.24'% Unconfirmed 239,380,458 16.75% 59.978 3lYX �a »o. City of Fort Worth Three Year Service Plan Public Improvement District No. 18 - Tourism REVENUES PIS Assessments Total Funds Available for Use EXPENSES Incentives & Sales Efforts Marketing and Research (Promotion/ Advertising) Site Visits & Familiarization Tours Cultural Enhancements through Marketing and promotion of the Arts Operations &Administration City Administrative Fee Total Budgeted Expenses Contribution to Fund Balance Total Expenses Net Change in Fund Balance Fund Balance, Beginning of Year Estimated Estimated Fund Balance, End of Year Reserve Requirement Over (Under) Reserve FY24125 FY25126 FY26127 $ 7,400,000 $ 7,770,000 $ 8,160,000 $ 7,400,000 $ 7,770,000 $ 8,160,000 $ 3,782,675 $ 3,973,225 $ 4,174,075 2,570,750 2,700,250 2,836,750 146,900 154,300 162,100 550,875 578,625 607,875 293,800 308,600 324,200 55,000 55,000 55,000 $ 7,400,000 $ 7,770,000 $ 8,160,000 6,516,056 6,516,056 6,516, 056 6,516,056 6,516,056 6,516,056 1,295,259 1,360,272 1,360, 272 $ 5,220,797 $ 5,155,784 $ 5,155,784 FoRTWORTH. NOTICE OF PUBLIC HEARING Re: Notice of Public Hearings Regarding the Proposed Expansion of Fort Worth Public Improvement District No. 18 (Tourism PID), along with the Proposed Budget, Alan of Service, and Levy of Assessment on Properties within the Tourism PID for Fiscal Year 2024.2025 Pursuant to Sections 372.009 and 372.016, of the Texas Local Government Code, as amended, ( Code') notice is given that the City Council ('City Ceunoii') of the City of Fort Worth, Texas ('City) will conduct a public hearing to consider (1) the expansion of Fort Worth Public Improvement District No. 18 (Tourism PID ('PID') and (2) the proposed budget, plan of service, and levy of assessments on property within the PID to pay for certain Improvements and/or services therein. The City Council will hold two public hearings to consider the expansion of the AID, the proposed budget, plan of service, and levy of assessments against property within the PID, which will be held during the regular City Council meetings on Tuesday, August 27, 2024, beginning at 10:00 am and Tuesday, September 17, 2024, beginning at 6:00 pm In the City Council Chamber, City Hall, 200 Texas Street, Fort Worth, Texas. The City Council is expected to take final action and vote on the expansion, budget, plan of service, and levy of assessments following the close of the second public hearing on September 17, 2024; however, the City Council may continue such action to a subsequent meeting. All persons owning property that are liable for assessment located within the PID are invited to be heard concerning the proposed Improvements aridlor services, the benefits to the property because of the proposed improvements and/or services, and any other matter to which they are entitled to be heard pursuant to the Code. All interested persons will be given an opportunity to appear and be heard at such public hearings. Written and oral objections will be considered at the hearings. If you would like to speak at the public hearings, you must sign up prior to 8:00 am on August 27, 2024 to speak at the first hearing and prior to 4:00 pm on September 17, 2024 to speak at the second hearing, (I) online at httpsllfortworthgov.legistar.comlCerenderaspx by clicking on the applicable agenda item, (d) by email at csoadmin@fortwarthtexas.gov, or (iii) by phone at (817) 392-015D. If a speaker wishes to use electronic media, the deadline to submit media is 5:00 pm the day before the applicable meeting. NOTE: YOU DO NOT HAVE TO BE PRESENT AT THE CITY COUNCIL MEETING TO SPEAK AT THE PUBLIC HEARING. IF YOU WANT SPEAK REMOTELY, YOU MAY DO SO BY SIGNING UP TO SPEAK THROUGH THE ABOVE -STATED METHODS. There is no requirement that any property owners attend or speak at the public hearings. You can submit any wdden objections or concerns about the PID to the contact listed at the bottom of this notice, which should be submitted prier to the date of the applicable hearing to ensure adequate time for written comments to be recelved and distributed for proper consideration. The subject of the public hearings will include the following matters: 1. The advisability of expanding the PID to include an additional hotel In order to provide the proposed Improvements and services set forth below and described in the petitions, which are on file at the Office of the City Secretary at City Hall, 100 FartWorth Trail, Fort Worth, Texas. The proposed improvements andlor services set forth below and, in the petitions, will promote the interest of the City and confer a special benefit on the assessed properties within the PID. 2. The general nature of the proposed Improvements andlor services to be provided in the PID Include, without limitation, the follewtng: marketing, business recrultment, and promotional activities authorized by the Code for Improvements and promotion of the PID, Including, but not limited to, the provision of incentives to organizations to encourage them to bring large and city-wide events (ncluding, without 0mitation, meetings, sporting, recreation, and cultural events) to Fort Worth and to fund additional marketing to increase hotel slays within the City ("Proposed Improvements'). 3. A preliminary estimate of the cost of the Proposed improvements to be provided In the PID during fiscal year 2024-2025 is as follows: FY 2024-2025 BUDGET Incentive & Sales Efforts $3,782,675.00 Marketing and Research $2,570,750.00 Site Visits & Familiarization Tours $146,900.00 Cultural Enhancements through Marketing and $550,875.00 Promotion of the Arts Operations and Administration $293,800.00 City Administrative Fee $55.000.00 Total Expenses $7,400,000.00 4. The current boundaries of the PID consist of noncontiguous areas authorized under Subchapter 372.0035 of the Code consisting solely of hotel properties with 100 or more rooms ordinarily used for sleeping within the City of Fort Worth and subject to assessment per Resolution Nos. 4837-08-2017, 5264-08-2020, 5382-04-2021, 5467-08-2021, 55614)42022 and 5858.05.2024. Copies of the resolutions and subsequent assessment orders are on file In the Cily Secretary% Office, City Hall, 100 Fort Wortit Trall, Fort Worth, Texas 76102. 5. Expanded Boundaries: Section 372.0121 of the Code allows the City Council to include property In the PID after the establishment of the PID If (1) the property is a hotel and (it) a sufficient number of the record owners of the real property currently Included and proposed to be included In the PID have consented to be included in the PID by signing the original petition to establish the PID or by signing a petition or written consent to Include property in the PID. The following property meets the requirements of the Code and, therefore, is being considered for Inclusion in the PID: e. Avid Hotel —Trinity Uptown, 320 Samuels Ave, Fort Werth, TX 76102 6. The City will net be obligated to provide any funds to finance the proposed Improvements andlor services, other than from assessments levied on property in the PID. All of the costs of the PID will be paid by assessments on the property within the PID and from other sources of funds, If any, available to the PI D. 7. The apportionment of costs for the proposed improvements andlor services will be made on the basis of special benefits accruing to the PID and will be levied an the hotel properties within the PID at a rate of 2% of the consideration received from occupancy of any sleeping room furnished by hotels within the PID. This methodology imposes equal shares of the cost on property similarly benefitted. S. The proposed assessment roll providing for the costs of the Proposed Improvements to be assessed, levied, and apportioned against the property within the PID, and the owner or owners thereof, Is on file at the office the City Secretary at City Hall, 100 Fort Worth Trait, Fort Worth, Texas. For further information, please contact Lacey Ruiz, Public Improvement District Administrator, at (817) 392- 2608 or via email at lecay.rulz@fortworthtexas.gov. For information about PID 18 — Tourism, please contact the PID Manager, Bob Jameson, at (817) 698-7822 or via email at BobJameson@FartWorth.com. You can also visit their webslte at forMorth.com. '• Si neceslta esta carts an Espadol, porfavor flamar al (817) 392.6021. - City of Fort Worth, Texas Mayor and Council Communication DATE: 08/27/24 M&C FILE NUMBER: M&C 24.0728 LOG NAME: 17ED PID18FY25 EXPAND SUBJECT (ALL) Conduct Public Benefit Hearing Concerning the Expansion of Fort Worth Public Improvement District No. 18 - Tourism to Include One Additional Hotel Property; Find for the Sufficiency of the Attached Petition Requesting Expansion of the Fort Worth Public Improvement District 18 —Tourism; and Adopt the Resolution Authorizing and Expanding the Fort Worth Public Improvement District No. 18 -Tourism to Include the Additional Hotel Property (PUBLIC HEARING - a. Report of City Staff. Lacey Ruiz; b. Public Comment; c. Council Action: Close Public Hearing and Act on the M&C) RECOMMENDATION: It is recommended that the City Council: 1. Conduct a public benefit hearing concerning the expansion of the Fort Worth Public Improvement District 18 —Tourism to include one additional hotel property; 2. Find that the attached petition requesting inclusion into the Fort Worth Public Improvement District 18 — Tourism meets the requirements set forth in Chapter 372 of the Texas Local Government Code; 3. Adopt the attached Resolution: (i) mWng certain findings concerning the nature and advisability of special improvements and services to be provided for the benefit of the additional hotel to be included in the Fort Worth Public Improvement District 18 --Tourism, the estimated costs of such improvements and services, the method of assessment, the boundaries of the Fort Worth Public Improvement District 18 — Tourism, and the apportionment of costs between the Fort Worth Public Improvement District 18 — Tourism and the City, as a whole, and (ii) authorizing and expanding the Fort Worth Public Improvement District 18 -- Tourism to include one (1) additional hotel; and 4. Direct the City Secretary to publish notice of the expansion of the Fort Worth Public Improvement District 18 — Tourism as required by Chapter 372 of the Texas Local Government Code. DISCUSSION: The purpose of this Mayor and Council Communication (M&C) is to expand the boundaries of Fort Worth Public Improvement District 18 - Tourism (Tourism PID) through the inclusion of one (1) additional hotel property. On August29, 2017, the City Council adopted Resolution No. 4837-08-2017, establishing the Tourism PID (Establishing Resolution). The City Council subsequently adopted Resolution Nos. 5264-08-2020 (August 18, 2020), 5382-04-2021 (April 13, 2021) and 5958-05 2024 (May 14,2024) expanding the boundaries of the Tourism PID to include additional hotel properties (Expansion Resolutions). Expansion of the Tourism PID Boundaries and Petition: The current boundaries of the Tourism PID consist of noncontiguous areas authorized under Section 372.0035 of the Texas Local Government Code (Code) consisting solely of hotel properties with 100 or more rooms ordinarily used for sleeping within the City of Fort Worth. A list of the hotels that are included within the boundaries of the Tourism PID is included in the Original and Expansion Resolutions and attached hereto. Senate Bill (SB) 804, 87th Texas Legislature (2021), which went into effect on June 14, 2021, revised Section 372.0121 of the Code to clarify the ability of cities to add new hotels into an existing Tourism PID. One of the new provisions affects the way in which the City calculates (or recalculates) the percentage threshold for adding new hotels into the Tourism PID. SB 804 requires the City to update and recalculate each of the percentage thresholds set forth below every time a new hotel property is added to the Tourism PID. Conversely, the prior version of Section 372.0121 only required the City to calculate the impact that the new hotel property had on the pre-existing thresholds. For example, under SB 804, the City has to update and recalculate the appraised value of each and every existing property in the Tourism PID each time that a new hotel is added; whereas, under the prior legislation, the City simply carried forward the values of the existing hotel properties from the year the hotel properties entered into the Tourism PID. Section 372.0121, as revised, allows the City Council to include additional properties in the Tourism PID if (i) the property is a hotel and (4) a sufficient number of the record owners of the real property currently included and proposed to be included in the Tourism PID have consented to be included in the Tourism PID by signing the original petition to establish the district or by signing a petition cr written consent to include property in the Tourism PID. The number of consenting record owners is sufficient if (1) the record owners own more than 60% of appraised value of taxable real property liable for assessment in the Tourism PID; and either (i) constitute more than 60% of all record owners of taxable real property liable for assessment in the Tourism PID, or (ii) own, in aggregate, more than 60% of the area of all taxable real property liable for assessment in the Tourism PID. If the addition of the new properties results in these numbers dropping at or below the 60% threshold, then the properties may not be added. Inclusion of the Avid Hotel - Trinity Uptown (Avid Hotel), located at 320 Samuels Ave., Fort Worth, Texas 76102, meets the above -stated elements and, therefore, may be considered by the City Council for inclusion into the Tourism PID. First, the Avid Hotel is a hotel property. With regard to the second element, the property owner, or its duly authorized representatives, for the Avid Hotel, signed a petition requesting inclusion within the Tourism PID. This results in an increase from 80.54% to 83.25% of the appraised value of taxable real property liable for assessment, from 69.63% to 70.32% of the area of all taxable real property liable for assessment and from 66.67% to 67.24% of record owners liable for assessment. These figures remain above the statutory threshold of 60.00%, thereby meeting the required conditions for the adjustment of the Tourism PID's composition. Nature of the Improvements: The goals of the Tourism PID focus on increasing the economic impact and enhancing competitiveness in conventions, meetings, leisure and sports tourism and increasing tourism -related economic activity at all times, including during economic downturns and as inventory grows. The Tourism PID projects include incentives and sales efforts, convention and sports marketing and promotion, site visits and familiarization tours, community arts grants, convention services, event funding application, operations, research, and administration, all of which benefit the hotels within the Tourism PID. Method of Assessment and Apportionment of Costs: The assessment rate will be an amount equal to 2.00% of the consideration received from the occupancy of any sleeping room furnished by a hotel located within the Tourism PID, with such assessment to be collected in the same manner and in accordance with the same procedures as those established for the collection of the City's Hotel Occupancy Tax, as set forth in Chapter 32, Article II of the City Code, as amended. The entire costs of each improvement and service will be paid from the above -stated assessments and no City funds will be used to pay any portion of such costs unless such funding is approved by the City Council on a case -by -case basis. Estimated Costs of the Improvements and Services: The total estimated costs for the proposed services and improvements for the life of the Tourism PID (approximately three years) will be $23,330,000.00, which includes an estimated cost of $7,400,000.00 for the Fiscal Year 2024-2025 Budget. Assessments will begin on October 1, 2024. Advisability: Staff recommends that the City Council find that these improvements and services are advisable because they will promote the interests of the City and confer a special benefit on the assessed properties within the expanded boundary of the Tourism PID. Upon the close of the public hearing, staff recommends that the City Council declare the petition to expand the Tourism PID to include the one additional hotel property to be sufficient and adopt the attached Resolution making findings concerning the following and expanding the Tourism PID: • The apportionment of costs between the Tourism PID and the City, as whole; • The proposed method of assessment; • The expanded boundaries of the Tourism PID; • The estimated costs of the proposed improvements and services; • The general nature of the proposed improvements and services; and • The advisability of expanding the Tourism PID. Upon adoption of the Resolution, the Sandman will be included within the boundaries of the Tourism PID, effective on the date that City Council's authorization to expand the Tourism PID has been published in a newspaper of general circulation and will expire on the date set forth in the Original Resolution. The City Council will hold two public hearings to consider the proposed budget, plan of service, and levy of assessments against property within the Tourism PID, which will be held during the regular City Council meetings on Tuesday, August 27, 2024 at 10:00 A.M., and Tuesday, September 17, 2024 at 6:00 P.M. The City Council is expected to take final action and vote on the proposed budget, plan of service, and levy of assessments following the close of the hearing on September 17, 2024. Notice of this public hearing was published in the Fat Worth Star -Telegram and mailed to the appropriate property owners on August 9, 2024, which complies with the notice requirements under the Act. These properties are located in 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 1 CERTIFICATION: The Director of Finance certifies that approval of these recommendations will have no material effect on City funds. Submilted for Ci Manager's Office by: William Johnson 5806 Originating Business Unit Head: Robert Stums 2663 Additional Information Contact: Lacey Ruiz 2608 Expedited