HomeMy WebLinkAboutOrdinance 27159-09-2024Ordinance No. 27159-09-2024
AN ORDINANCE ADJUSTING ESTIMATED RECEIPTS AND
APPROPRIATIONS BY INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE FORT WORTH PUBLIC IMPROVEMENT
DISTRICT 7 - HERITAGE FUND IN THE AMOUNT OF
$2,801,655.00, OF WHICH (1) $2,367,373.00 IS FROM AVAILABLE FUNDS AND (2)
$434,282.00 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 7 - Heritage Fund in the amount of $2,801,655.00, of which (1) $2,367,373.00 is from available funds
and (2) $434,282.00 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 j urisdiction, 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said prior ordinances and appropriations are hereby expressly repealed.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: CITY SECRETARY
Jannette S. Goodall
Assistant City Attorney City Secretary
ADOPTED AND EFFECTIVE: September 17, 2024
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City of Fort Worth
Five Year Service Plan FY 25 - FY29
Public Improvement District No. 7 - Heritage
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
Security Enhancements
Advertising
Public Events
Association Employees
Capital Improvements
Annual Review
City Administration 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
PY28129
$ 2.142,508
$ 2,228.208
$ 2,317,337
$ 2.410,030
$ 2,506,431
206,392
206.392
206,392
206,392
206,392
18,473
18.473
18,473
18,473
18,473
$ 2,367,373
$ 2,453,073
$ 2,642,202
$ 2,634,895
$ 2,731,296
434,282
-
-
-
-
$ 2,801,655
$ 2.453.073
$ 2,642,202
$ 2,634,895
$ 2,731,296
$ 148,050.00
$
151,011.00
$
154,031.22
$
157,111.84
$
160,254.08
$ 270,486.00
$
206,040.00
$
210,160.80
$
214,364.00
$
218,651.00
$ 1,176,910.00
$
1,216,632.00
$
1,257,767.00
3
1,300,361.00
$
1,326,365.22
$ 194,203.00
$
198,087.06
$
202,048.80
$
206,089.78
$
210.21'l.57
$ 102,500.00
$
104,550.00
$
106.641.00
$
108,773.82
$
110,949.30
$ 500.00
$
500,00
$
600.00
$
500.00
$
500.00
$ 81,500.00
$
83,130.00
$
84.792.60
$
86,488.45
$
88,218.22
$ 110,823.00
$
113,039.46
$
115,300.25
$
117,606.25
$
119,958.38
$ 666,336.00
$
100,000.00
$
102,000.00
$
104,040.00
$
106,120.80
$ 3,000,00
$
3,000.00
$
3,000.00
$
3,000.00
$
3,000.00
$ 47,347.00
$
49,061.47
$
50,844.03
$
52,697.90
$
54,625.93
$ 2,801,655
$
2,225,051
$
2,287,086
$
2,351,033
$
2,398,857
-
228,022
255,116
283.862
332,439
$ 2,801,655
$
2,453,073
$
2,542,202
$
2,634,895
$
2,731,296
$ (434,282)
$
228,022
$
255,116
$
283,862
$
332,439
567,792
133,510
361.532
616,648
900.510
133,510
361,532
616,648
600,510
1,232.949
370,916
381,257
391.917
399,890
$ (237,406)
$
(19,725)
$
224,731
$
500,621
$
1,232,949
'FY2025 Assessment Rate = $.145 Residential/ $.110 Commercial
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Hills
Barksdale
Kingsridge
West
King
Crawford
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Sinclair
Ninnie
Baird
Coventry Hills
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Arcadia
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FORT WORTH.
PI D / �% : Heritage
Source: Planning and Data Analytics
Date:luly 2020
' C ovyright 2020 City of Fort 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 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 accuracy of said data.
0 1,250
2,500 5,000 Feet
N
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 09/17/24 M&C FILE NUMBER: M&C 24-0772
LOG NAME: 17ED PID07FY25
SUBJECT
(CD 4 and CD 10) Conduct Public Benefit Hearing for Fort Worth Public Improvement District 7 -Heritage; Adopt the Attached 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 $0.145 Per Each $100.00 of Residential Property Value and $0.11 Per Each
$100.00 of Commercial Property Value; Authorize Execution of Agreement with FirstService Residential Texas PID, LLC, in the Amount of
$148,050.00 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 7 -Heritage for the 2024 tax year; .
2. Adopt the attached ordinance (1) approving and adopting the fiscal year 2024-2025 budget in the amount of $2,801,655.00, five-year
service plan, assessment plan, and tax year 2024 assessment roll (on file with the City Secretary) for the Heritage Public Improvement
District; and (2) levying special assessments on privately -owned property located in the Heritage Public Improvement District for the
2024 tax year at the rates of $0.145 per each $100.00 of residential property value and $0.11 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 $148,050.00 to provide
management of the improvements and services for the Heritage 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
7 - Heritage Fund in the amount of $2,801,655.00, of which (1) $2,367,373.00 is from available funds and (2) $434,282.00 is from available
unreserved fund balance.
DISCUSSION:
On September 26, 2000, the City Council adopted Resolution No. 2675 establishing Fort Worth Public Improvement District No. 7 - Heritage
(Heritage PID).
The purpose of this benefit hearing is to receive comments from the public regarding the Fiscal Year2024-2025 budget and five-year service plan
for the Heritage PID and the proposed assessments to be levied on each privately -owned property in the Heritage 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 Heritage PID during the Fiscal Year 2024-2025 and the costs thereof are as follows:
Fiscal Year 2025 Budget
Improvements
Total Budgeted Cost
Management Fee
$148,050.00�
Utilities
$ 270,486.00
Landscaping
$1,176,910.00
Common Area Maintenance
$194,203.00
Security Enhancements
$102,500.001
Advertising
$ 500.00 11
Public Events
$ 81,500.001
Capital Improvements
$ 666,336.00,
Annual Review
$ 3,000.00
City Administrative Fee
$ 47,347.00'
Support Personnel
$ 110,823.00�
Total Expense 11 $ 2,801,655.00
The total budgeted costs of the improvements are in the amount of $2,801,655.00.Of this amount, $2,142,508.00 will be funded by assessments
collected on privately owned parcels located in the Heritage PID by applying a rate of $0.145 per each $100.00 of property value for residential
property and $0.11 per each $100.00 of property value for commercial property. The remainder of the costs in the amount of $659,147.00 will be
funded by other revenue sources including: (a) $206,392.00 in direct payments from the City for Payment In -Lieu of Services (b) $18,473.00 in
direct payment from the City for Payment In -Lieu of Assessments, which are calculated at the same rate as privately -owned parcels, and
(c) $434,282.00 transferred from the unaudited, unassigned fund balance.
On August 27, 2024, the City Council conducted a public hearing to receive comments on the proposed 2024-2025 Fiscal Year Budget, Five -Year
Service Plan, and 2024 Assessments for the Heritage 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 Heritage PID on August 16, 2024, in accordance with state
law.
Funding will be budgeted within the FWPID #7 - Heritage Fund for Fiscal Year 2025.
The Heritage PID is located in COUNCIL DISTRICTS 4 & 10.
FISCAL INFORMATION ! 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 #7 - Heritage 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- : William Johnson 5806
Originating Business Unit Head: Robert Stums 2663
Additional Information Contact: Lacey Ruiz 2608