The URL can be used to link to this page

Home My WebLink AboutOrdinance 27157-09-2024Ordinance No. 27157-09-2024 AN ORDINANCE ADJUSTING ESTIMATED RECEIPTS AND APPROPRIATIONS BY INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE FORT WORTH PUBLIC IMPROVEMENT DISTRICT 6 - PARK GLEN FUND IN THE AMOUNT OF $2,641,493.00, OF WHICH (1) $2,598,284.00 IS FROM AVAILABLE FUNDS AND (2) $43,209.00 IS 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 6 - Park Glen fund in the amount of $2,641,493.00, of which (1) $2,598,284.00 is from available funds and (2) $43,209.00 is from available unreserved fund balance. 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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: 5� Assistant City Attorney ADOPTED AND EFFECTIVE: September 17, 2024 CITY SECRETARY Jannette S. Goodall City Secretary �4�aaaa 00000000 a pAo o0o OA 0 a�o �0�0 9 09' Q ��040"()rEx A5� City of Fort Worth Five Year Service Plan FY24 - FY28 Public Improvement District No. 6 - Park Glen REVENUES PID Assessments' COFW Payment in lieu of Services COFW Assessment Total Budgeted Revenues Use of Fund Balance Total Revenues EXPENSES Management Fee Utilities Landscaping Common Area Maintenance Holiday Decoration Security Enhancements Communications Public Events Capital Improvements Annual Review City Administrative Fee Total Budgeted Expenses Contribution to Fund Balance Total Expense Net Change in Fund Balance Estimated Fund Balance, Beginning of Year Estimated Fund Balance, End of Year Reserve Requirement Over (Under) Reserve FY24125 FY25126 FY26127 FY27128 $ 2,320,056 $ 2,320.068 $ 2,412,858 $ 2,412,858 270,925 270,925 270,925 270,925 7,303 7,298 7,298 7,298 $ 2,598,284 $ 2,598,279 $ 2,691,081 $ 2,691,081 43,209 $ 2,641,493 $ 2,598,279 $ 2,691,081 $ 2,691,081 $ 160,277 $ 165.085 $ 170,038 $ 175,139 202,000 206,040 210,161 214.364 1,388,250 1,250,125 1,250.125 1,248,000 200,000 315,000 81,000 243,000 53,000 23,000 33,000 33,000 285,400 291.108 296,930 302,869 14,500 14,500 20,000 20,000 51,000 51,000 62,800 62,800 230,000 215,000 450,000 200,000 5,100 5,100 5,100 5,100 51,966 51,966 53,822 53,822 $ 2,641,493 $ 2,587,924 $ 2,632,975 $ 2,558,093 - 10,355 58,106 132,988 $ 2,641,493 $ 2,598,279 $ 2,691,081 $ 2,691,081 $ (43,209) $ 10,355 $ 58,106 $ 428,775 465,480 482,271 492,626 550,732 482,271 492,626 550.732 979,507 431,407 438,917 426.434 426,434 $ 50,864 $ 53,709 $ 124,298 $ 553,073 "FY2025 Assessment Rate = $A 66 Residential/ $.035 Commercial LLJ ! verl fi1� rI OHills �P�lit-A ! r ! ! f f r ! l Arcadia Trail r North r y. 1 T rkwo d! � r v� ! v f uCZ y + lar _ r o ! I Q + Park P 0 ! erbro ik Puce ACV, 377 � 4 I 1 --Rf2fi+V-ITT f —1 i Qj f ! r Arcadia ! Trail r �I jF I! i BASS WOO D--t Mesa. Verde ' � 1 I 1 r Silver WINTERH,gZ£1 Sage t_ 1 Arcadia Trai! wQ t 0 U 8 C.- South l f I ' E E f I FORT WORTH_ . P I D 6 : Park Glen Source- Planning and Data Analytir1 Date: July 2020 Copyright 2020CIty of Fort Worth. Unauthorized reproduction is a violation or applicatite laws. This product is for Informational purposes :nd may rwt have been prepared for or be suitable for legal. 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 occurwy of said data. 0 1,000 2,000 4,000 Feet N City of Fort Worth, Texas Mayor and Council Communication DATE: 09/17/24 M&C FILE NUMBER: M&C 24-0771 LOG NAME: 17ED PID06FY25 SUBJECT (CD 4) Conduct Public Benefit Hearing for Fort Worth Public improvement District 6 - Park Glen; 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 $0.155 Per Each $100.00 of Residential Property Value and $0.035 Per Each $100.00 of Commercial Property Value; Authorize Execution of Agreement with FirstService Residential Texas PID, LLC, in the Amount of $160,277.00 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 concerning the proposed special assessments on the property located in Fort Worth Public Improvement District 6 - Park Glen for the 2024 tax year; 2. Adopt the attached ordinance (1) approving and adopting the Fiscal Year2024-2025 budget in the amount of $2,641,493.00, five-year service plan, assessment plan, and tax year 2024 assessment roll (on file with the City Secretary) for the Park Glen Public Improvement District; and (2) levying special assessments on privately -owned property located in the Park Glen Public Improvement District for the 2024 tax year at the rates of $0.155 per each $100.00 of residential property value and $0.035 per each $100.00 of commercial 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 $160,277.00 to provide management of the improvements and services for the Park Glen 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 6 - Park Glen fund in the amount of $2,641,493.00, of which (1) $2,598,284.00 is from available funds and (2) $43,209.00 is from available unreserved fund balance. DISCUSSION: On September 22, 1998, the City Council adopted Resolution No. 2453 establishing Fort Worth Public Improvement District 6 - Park Glen (Park Glen 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 Park Glen PID and the proposed assessments to be levied on each property in the Park Glen 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 Park Glen PID during the Fiscal Year 2024-2025 and the costs thereof are as follows: Fiscal Year 2025 Budget Improvements Management Fee Total Budgeted Cost $ 160,277.00 Utilities $ 202,000.00 Landscaping $ 1,388,250.00 Common Area Maintenance $ 200,000.00 Holiday Decoration $ 53,000.00 Security Enhancements $ 285,400.00 Communications $ 14,500.00 Public Events $ 51,000.00 Capital Improvements $ 230,000.00 Annual Review $ 5.100.00 City Administrative Fee $ 51,966.00 Total Expense $ 2,641,493.00 The total budgeted costs of the improvements and services are in the amount of $2,641,493.00. Of this amount, $2,320,056.00 will be funded by assessments collected on privately owned parcels located in the Park Glen PID by applying a rate of $0.155 to each $100.00 of property value for residential property and $0.035 to each $100.00 of property value for commercial property. The remainder of the costs in the amount of $321,437.00 will be funded by other revenue sources including: (a) $270,925.00 in direct payments from the City for Payment In -Lieu of Services (b) $7,303.00 in direct payment from the City for Payment In -Lieu of Assessments, which are calculated at the same rate as privately -awned parcels and (c) $43,209.00 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 forthe Park Glen 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 Park Glen PID on August 16, 2024 in accordance with state law. Included within those notices was a draft of the Fiscal Year 2024-2025 budget of $2,641,493.00. The informal Paris Glen Advisory Board recommended approval of the budget. Funding will be budgeted within the FWPID #6 - Parts Glen Fund for Fiscal Year 2025. The Park Glen PID is located in COUNCIL DISTRICT 4. FISCAL INFORMATION t CERTIFICATION: The Director of Finance certifies that upon approval of the above recommendations and 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 #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_W. William Johnson 5806 Originating Business UnijHead: Robert Stums 2663 Additional Information Contact: Lacey Ruiz 2608