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Ordinance No. 27161-09-2024
AN ORDINANCE ADJUSTING ESTIMATED RECEIPTS AND
APPROPRIATIONS BY INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE FORT WORTH PUBLIC IMPROVEMENT
DISTRICT 11 - STOCKYARDS FUND IN THE AMOUNT OF
$462,474.00, OF WHICH (1) $454,603.00IS FROM AVAILABLE FUNDS AND (2)
S7,$71.00IS FROM AVAILABLE UNRESERVED FUND BALANCE; 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 by increasing estimated receipts and appropriations in the Fort Worth Public Improvement
District 11- Stockyards Fund in the amount of $462,474.00, of which (1) $454,603.00 is from available funds
and (2) $7,871.00 is from available unreserved fund balance.
SECTION 2.
That should any portion, section or part ofa section ofthis ordinance be declared invalid, inoperative or void
for any reason by a court ofcompetent jurisdiction, such decision, opinion or j udgment 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said prior ordinances and appropriations are hereby expressly repealed.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:
Assistant City Attorney
ADOPTED AND EFFECTIVE: September 17, 2024
CITY SECRETARY
Jannette S. Goodall
City Secretary
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City of Fort Worth
Five Year Service Plan FY25 - FY29
Public Improvement District No. 11 - Stockyards
REVENUES
PID Assessments
City Payment in -lieu of Assessments
Budgeted Revenues
Use of Fund Balance
Total Budgeted Revenues
EXPENSES
Management Fee
Security
Maintenance & Operations
Public Events
Capital Improvements
Marketing & Research (WebsitelNewsletter)
City Audit Fee
City Administrative Fee
Total Budgeted Expenses
Net Change in Fund Balance
Fund Balance, Beginning of Year (Estimated Yrs 2-5)
Estimated Fund Balance, End of Year
Reserve Requirement
Over (Under) Reserve
'FY2025 Assessment Rate = $.12
FY24125 FY25126 FY26127 FY27128 FY28129
$
444.145
$ 457,469
$ 471,193
$
465,329
$ 499,889
$
10,458
$ 9,149
$ 9,424
$
9,707
$ 9,998
$
454,603
$ 466,619
$ 480,617
$
495,036
$ 509.887
$
7,871
$ 7,794
$ 8,028
$
8,269
$ 8,517
$
462,474
$ 474,413
$ 488,645
$
503.305
$ 518,404
$
90,676
$ 91.494
$ 94,239
$
97,066
$
99,978
$
201,000
$ 210,000
$ 220,000
$
220,000
$
230,000
$
100,500
$ 100.500
$ 110,000
$
115.000
$
115,000
$
10,000
$ 10,000
$ 10.000
$
10,000
$
10,000
$
17,206
$ 1%087
$ 6,794
$
8,338
$
10,228
$
31,000
$ 31,000
$ 35.000
$
40,000
$
40,000
$
3,000
$ 3,000
$ 3,000
$
3,000
$
3,000
$
9.092
$ 9,332
3 9,612
$
9.901
$
10,198
$
462,474
$ 474,413
$ 488,645
$
503,305
$
518,404
$
(7,871)
$ (7,794)
$ (8,028)
$
(8,269)
$
(8,517)
$
261.689
$ 252,451
$ 244,657
$
236,629
$
228,360
$
252,451
$ 244,657
$ 236.629
$
228,360
$
219,843
$
79,085
$ 81,457
$ 83,901
$
86,418
$
86,418
$
173,366
$ 163,200
$ 162,728
$
141,942
$
133,425
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City of Fort Worth, Texas
Mayor and Council Communication
DATE: 09/17/24 M&C FILE NUMBER: M&C 24-0773
LOG NAME: 17ED PIDlIFY25
SUBJECT
(CD 2) Conduct Public Benefit Hearing for Fort Worth Public Improvement District 11 - Stockyards; Adopt the Ordinance (1) Approving and
Adopting the Fiscal Year 2024-2025 Budget, Five -Year Service Plan, Assessment Plan, and Tax Year 2024 Assessment Roll, and (2) Levying
Special Assessments for the 2024 Tax Year at a Rate of $0.12 Per Each $100.00 of Property Value; Authorize Execution of an Agreement with
Fort Worth Stockyards, Inc., in the Amount of $90,676.00 to Manage the Public Improvement District, and Adopt Appropriation Ordinance
(PUBLIC HEARING - a. Report of City Staff. Lacey Ruiz; b. Public Comment; c. Council Action: Close Public Hearing and Act on M&C)
RECOMMEND TION:
It is recommended that the City Council:
1. Conduct a public benefit hearing concerning the proposed special assessments on the property located in Fort Worth Public Improvement
District 11 - Stockyards for the 2024 tax year,
2. Adopt the attached ordinance (1) approving and adopting the Fiscal Year 2024-2025 budget in the amount of $462,474.00, five-year service
plan, assessment plan, and tax year 2024 assessment roll (on file with the City Secretary) for the Stockyards Public Improvement District;
and (2) levying special assessments on privately -owned property located in Stockyards Public Improvement District for the 2024 tax year at
a rate of $0.12 per each $100.00 of property value (Service Assessment Plan and Assessment Ordinance);
3. Direct the City Secretary to record a copy of the Service Assessment Plan and Assessment Ordinance in the real property records of Tarrant
County, Texas no later than the seventh (7th) day after adoption by the City Council;
4. Authorize the execution of an agreement with Fort Worth Stockyards, Inc., in the amount of $90,676.00 to provide management of the
improvements and services for the Stockyards Public Improvement District during Fiscal Year 2024-2025; and
5. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District
11 - Stockyards Fund in the amount of $462,474.00, of which (1) $454,603.00 is from available funds and (2) $7,871.00 is from available
unreserved fund balance.
DISCUSSION:
On February 25, 2003, the City Council adopted Resolution No. 2925 establishing Fort Worth Public Improvement District 11 - Stockyards
(Stockyards PID).
The purpose of this benefit hearing is to receive comments from the public regarding the Fiscal Year 2024-2025 budget and five-year service plan
for the Stockyards PID and the proposed assessments to be levied on each property in the Stockyards PID for the 2024 tax year. Following the
public hearing, it is recommended that the City Council take the following actions: adopt the attached ordinances (1) approving and adopting the
budget, five-year service plan, assessment plan, and assessment roll; (2) levying the proposed assessments; and (3) appropriating funds.
The improvements and services to be provided in the Stockyards PID and the costs thereof are as follows:
Fiscal Year 2025 Budget
Improvements
Total Budgeted Cost
Management Fee
$90,676.00
Maintenance & Operations
$100,500.00
Security
$201,000.00
Public Events
$10,000.00
Marketing & Research
$31,000.00
Capital Improvements
$17,206.00
City Audit Fee
$3,000.00
City Administrative Fee
$9.092.00
Total Budgeted Expenses
$462,474.00-
The total budgeted costs of the improvements and services are in the amount of $462,474.00 of this amount, $444.145.00 will be funded by
assessments collected on privately -owned parcels located in the Stockyards PID by applying a rate of $0.12 per each $100.00 of property value.
The remainder of the costs wiil be funded by other revenue sources including: (a) $10,458.00 in direct payment from the City for Payment In -Lieu of
Assessments, which are calculated at the same rate as privately -owned parcels and (b) $7,871.00 transferred from the unaudited, unassigned
fund balance.
On, August 27, 2024 the City Council conducted a public hearing to receive comments on the proposed Fiscal Year 2024-2025 budget, five-year
service plan, and 2024 assessment for the Stockyards PID. Notice of the August 27, 2024 benefit hearing and this hearing were published in
the Fort Worth Star- Telegram and mailed to all owners of property on record and liable for assessment within the Stockyards PID on August 16,
2024, in accordance with state law.
Funding will be budgeted within the FWPID #11 - Stockyards Fund for Fiscal Year 2025.
The Stockyards PID is located in COUNCIL DISTRICT 2.
FISCAL. INFORMATION I CERTIFICATION:
The Director of Finance certifies that upon approval of the above recommendations and the adoption of the Fiscal Year 2025 Budget by the City
Council, funds will be available in the Fiscal Year 2025 operating budget, as appropriated, in the FWPID #11 - Stockyards Fund. Prior to any
expenditure being incurred, the Economic Development Department has the responsibility to validate the availability of funds.
Submitted
for City_Managees
Office by:
William Johnson
5806
Originating
Business Unit
Head:
Robert Stums
2663
Additional Information Contact: Lacey Ruiz 2608