HomeMy WebLinkAboutOrdinance 27163-09-2024Ordinance No. 27163-09-2024
AN ORDINANCE ADJUSTING ESTIMATED RECEIPTS AND
APPROPRIATIONS BY INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE FORT WORTH PUBLIC IMPROVEMENT
DISTRICT 12 - CHAPEL HILL FUND IN THE AMOUNT OF
$422,146.00 FROM AVAILABLE FUNDS; 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 12 - Chapel Hill Fund in the amount of $422,I46.00 from available funds.
SECTION 2.
That should any portion, section or part of a section oftbis 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said prior ordinances and appropriations are hereby expressly repealed.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:
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 FY 24-25 - FY28-29
Public Improvement District No. 12 - Chapel Hill
REVENUES
PID Assessments
City Payment in lieu - Assessments
Total Budgeted Revenues
Use of Fund Balance
Total Funds Available for Use
EXPENSES
Management Fee
Utilities
Landscaping
Common Area Maintenance
Communications
Audit/Annual Review
Capital Improvements
City Administrative Fee
Total Budgeted Expenses
Contribution to Fund Balance
Total Expenses
Net Change in Fund Balance
Estimated Fund Balance, Beginning of Year
Estimated Fund Balance, End of Year
Reserve Requirement
Over (Under) Reserve
*FY2025 Assessment Rate = $.14
FY24125 FY25126 FY26127 FY27128 FY28129
$ 421,111 $ 433,744 $ 446,757 $ 460,159 $ 473,964
$ 1.035
$ 422,146 $ 433,744 $ 446,757 $ 460,159 $ 473,964
$ 422,146 $ 433,744 $ 446,757 $ 460,159 $ 473,964
$ 15,072
$
15,374
$
15,681
$
15,995
$
16,315
16,800
$
17,136
$
17,479
$
17,828
$
18,185
149,936
$
86,635
$
88,367
$
90,135
$
91,937
82,000
$
83,640
$
85,313
$
87,019
$
88,759
8,000
$
8,160
$
8,323
$
8,490
$
8,659
3,000
$
3,060
$
3,121
$
3,184
$
3,247
83.200
$
84,864
$
86,561
$
88,293
$
90,058
8,422
$
8,591
$
8,762
$
8,938
9,479
$ 366,430
$
307,459
$
313,608
$ 319,880
$ 326,641
55,716
126,285
133,148
140,279
147,323
422,146
433,744
446,757
460,159
473,964
$ 55,716
126,285
133,148
140,279
$ 147,323
59,831
327,140
453,425
586,574
726,853
327,140
453,425
586,574
726,853
874,176
51.253
52,278
53,324
54,451
54,451
$ 275,886
401,147
533,250
672,402
819,725
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FORT WORTH,
P I D 12 : Chapel Hill Source: Planning and Data Analytics
Date: July 2024
®Copyright 2020 City of Fart Worth. Unauthorized reproduction is a violation of applicable laws. This product is for informational purposes and may
not have been prepared for or be suitable forlegal, engineering or surveying purposes. It does not represent an on -the -ground survey and represents
only the approximate relative location of property boundaries. The City of Fort Worth assumes no responsibility for the accuracy of said data.
0 1,250 2,500 5,000 Feet
N E-11 --
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 09/17/24 M&C FILE NUMBER: M&C 24-0774
LOG NAME: 17ED PID12FY25
SUBJECT -
(CD 7) Conduct Public Benefit Hearing for Fort Worth Public Improvement District 12 - Chapel Hill; 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 $0.14 Per Each $100.00 of Property Value; Authorize Execution of Agreement with
FirstService Residential Texas PID, LLC, in the Amount of $15,072.00 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)
RECOMMENDATION:
It is recommended that the City Council:
1. Conduct a public benefit hearing conceming the proposed special assessments on the property located in Fort Worth Public Improvement
District 12 - Chapel Hill for the 2024 tax year;
2. Adopt the attached ordinance (1) approving and adopting the Fiscal Year 2024-2025 budget in the amount of $422,146.00, five-year service
plan, assessment plan, and tax year 2024 assessment roll (on file with the City Secretary) for the Chapel Hill Public Improvement District; and
(2) levying special assessments on property located in the Chapel Hill Public Improvement District for the 2024 tax year at the rate of $0.14
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 FirstService Residential Texas PID, LLC, in the amount of $16,072.00 to provide management
of the improvements and services for the Chapel Hill 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
12 - Chapel Hill Fund in the amount of $422,146.00 from available funds.
DISCUSSION:
On March 23, 2004, the City Council adopted Resolution No. 3060 establishing Fort Worth Public Improvement District 12 - Chapel Hill (Chapel
Hill 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 Chapel Hill PID and the proposed assessments to be levied on each property in the Chapel Hill 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 Chapel Hill PID and the costs thereof are as follows:
Fiscal Year 2025 Budget
Improvements
Total Budgeted Costs I
Management Fee
F $15,072.00
Utilities
$16,800.001
Landscaping
$149,936.00,
Common Area Maintenance
_ $82,000.00
Communications
$8,000.001
Capital Improvements
$83,200.00
City Audit
$3,000.00
City Administrative Fee
$8,422.00
Contribution to Fund Balance
$55,716.00
Total Expense
$422,146.00
The total budgeted costs of the improvements are in the amount of $422,146.00. Of this amount, $421,111.00 will be funded by assessments
collected on privately owned parcels located in the Chapel Hill PID by applying a rate of $0.14 per $100.00 of property value. The remainder of the
costs in the amount of $1,035.00 will be funded by direct payments from the City for Payment In -Lieu of Assessments, which are calculated at the
same rate as privately -owned parcels
For Fiscal Year 2023-2024 (tax year 2023) PID 12 levied an assessment of $0.18 per $100.00 of property value. The Chapel Hill PID experienced
growth in estimated net taxable value equal to revenue of $120,317.628, or 44.77%, and have a projected fund balance over their reserves in the
amount of $275,886.00 allowing for the assessment rate to be reduced by $0.04. Thus, the recommended Fiscal Year 2024-2025 (tax year 2024)
assessment rate is $0.140 per $100.00 of taxable property value.
On August 27, 2024, the City Council conducted a public hearing to receive comments on the proposed 2024-2025 Fiscal Year budget, five-year
service plan, and 2024 Assessments for the Chapel Hill 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 in the Chapel Hill PID on August 16, 2024, in accordance with state
law.
Funding will be budgeted within the FWPID #12 - Chapel Hill Fund for Fiscal Year 2025.
The Chapel Hill PID is located in COUNCIL DISTRICT 7.
FISCAL INFORMATION 1 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 wi[1 be available in the Fiscal Year 2025 operating budget, as appropriated, in the FVVPID #12 -Chapel Hill 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
Originating Business Unit Head: Robert Stums 2663
Additional Information Contact: Lacey Ruiz 2608