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Home My WebLink AboutOrdinance 27171-09-2024Ordinance No. 271.71.-09-2024 AN ORDINANCE ADJUSTING ESTIMATED RECEIPTS AND APPROPRIATIONS BY INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE FORT WORTH PUBLIC IMPROVEMENT DISTRICT 20 — EAST LANCASTER FUND IN THE AMOUNT $368,773.00 FROM AVAILABLE FUNDS, OF WHICH (1) $349,293.00 IS FROM AVAILABLE FUNDS AND (2) $19,480.00 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 reallocations to amounts allocated to various City departments for Fiscal Year 2023-2024 in the Budget of the City Manager, there shall also be adjusted estimated receipts and appropriations by increasing estimated receipts and appropriations in the Fort Worth Public Improvement District 20 — East Lancaster Fund in the amount $368,773.00 from available funds, of which (1) $349,293.00 is from available funds and (2) $19,480.00 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 j udgment shall in no way impair the remaining portions, sections, or parts of sections ofthis 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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 Iannette S. Goodall d 00 0�00ojt & City Secretary +"J6 o° pU° °mod d o a �d aa��0,0X0y 44a YUCCA 377 i Haltom Sylvania ppL MILL p RACE 121 Q Ruanoh Parker 2 O O 6 p 1ST 60CA RATON 59�� 4 TH ¢ o °s 2� 9RIDOE BRENTWOOD STAIR Gateway ¢ Fo:: aopn Wopf 1 � 008 Oakland -� Lake a Meadowbrook -+ 5:wf,d Golf Course L' Fefin� p Arms ,w Tandy Hills O4� Nature Area w 'i- Tandy Stratford MEADOWBROOK Hills Sycamore 180 V Creek Golf z Course t2 CRAIG VICKERY HAMPSHIRE F lenwood Sycamore ROSEDALE 303 w easedok �' Q q Plaza q MADfJOX AVE J Titus a a 87 l�aulsel 0 � Eastover w _^ RAMEY a co a Bunch, � w i CRENSl- u u LW O Q J' a H O O v~ Cobh _ > BERRY w L w U a a U 287 L. us - u EASTLAND, d- William s McDonald Cx 3 Cx WILBARGER FORT WORTH P1D 20: East Lancaster P;rv� W and Data Aryil" e; dCowlight702OCltyar FmrWnrth.Wr thmizedreyroaretianisavdrticnofa WkpkLmThus prvd�i is rQ info•mat,aulprpeusantl may apt ha.e peers prelsared loror ne sukable lr: te8a1. er�reerwti. a-swveyi�purpores.lt goes ewt represent an omthe�ros,nd survey aM represents or,er the approximate rclative joCrion of property bm dis-ke Th CM of Fco Wash #W— no aspansibility rot Me mm— of sad data �1 0 2,500 5,000 10.000 Feet N REVENUES PID Assessments Total Budgeted Revenues Use of Fund Balance Total Funds Available for Use EXPENSES Management Fee Litter Pickup City Administrative Fee Security Community MarketinglEvents Audit/Annual Review Communications Total Budgeted Expenses Contribution to Fund Balance Total Expenses City of Fort Worth Five Year Service Plan FY25-FY29 Public Improvement District No. 20 - East Lancaster FY24125 FY25126 FY26127 FY27128 FY28129 $ 349,293 $ 366,758 $ 385,095 $ 404,350 $ 424,568 $ 349,293 $ 366,758 $ 385,095 $ 404,350 $ 424,568 19,480 - - $ 368,773 $ 366,758 $ 385,095 $ 404,350 $ 424,568 $ 19,951.00 $ 20,550 $ 21,166 $ 21,801 $ 22,455 $ 24,336.00 $ 25,066 $ 25,818 $ 26,593 $ 27,390 $ 6,986.00 $ 7,196 $ 7,411 $ 7,634 $ 7,863 $ 310,000.00 $ 305,068 $ 314,220 $ 323,647 $ 333,356 $ 2,000.00 $ 2,060 $ 2,122 $ 2,185 $ 2,251 $ 3,000.00 $ 3,090 $ 3,183 $ 3,278 $ 3,377 $ 2,500.00 $ 2,575 $ 2,652 $ 2,732 $ 2,814 $ 368,773 $ 365,604 $ 376,572 $ 387,869 $ 399,506 16,481 25,062 368,773 365,604 376,572 404j35O 424,568 Net Change in Fund Balance $ (19,480) $ 1,153 $ 8,523 $ 16,481 $ 25,062 Estimated Fund Balance, Beginning of Year 81,300 61,820 62,973 71,496 87,977 Estimated Fund Balance, End of Year 61,820 62,973 71,496 87,977 113,039 Reserve Requirement 60,946 62,775 64,658 64,658 66,598 Over (Under) Reserve $ 874 $ 199 $ 6,839 $ 23,319 $ 46,442 `FY2025 Assessment Rate = .266 City of Fort Worth, Texas Mayor and Council Communication DATE: 09/17/24 M&C FILE NUMBER: M&C 24-0778 LOG NAME: 17ED PID20FY25 SUBJECT (CD 8 and CD 11) Conduct Public Benefit Hearing for Fort Worth Public Improvement District 20 - East Lancaster Avenue, 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 $0.266 Per Each $100.00 of Property Value; Authorize Execution of Agreement with FirstService Residential Texas PID, LLC, in the Amount of $19,951.00 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 20 - East Lancaster Avenue for the 2024 tax year; 2. Adopt the attached ordinance (1) approving and adopting the Fiscal Year 2024-2025 budget in the amount of $368,773.00, five-year service plan, assessment plan, and tax year 2024 assessment roll (on file with the City Secretary) for the East Lancaster Public Improvement District; and (2) levying special assessments on the property located in the East Lancaster Public Improvement District for the 2024 tax year at the rate of $0,266 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 (7rh) day after adoption by the City Council; 4. Authorize the execution of an agreement with FirstService Residential Texas PID, LLC., in the amount of $19,951.00 to provide management of the improvements and services for the East Lancaster Avenue Public Improvement District during Fiscal Year2024-2025; and 5. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District 20 -- East Lancaster Fund in the amount $368,773.00 from available funds, of which (1) $349,293.00 is from available funds and (2) $19,480.00 is from available unreserved fund balance. DISCUSSION: On February 12, 2019, the City Council adopted Resolution No. 5052-02-2019, establishing FortWorth Public Improvement District 20 - East Lancaster Avenue (East Lancaster 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 East Lancaster PID and the proposed assessments to be levied on each property in the East Lancaster 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 East Lancaster PID during the 2024-2025 Fiscal Year and the costs thereof are as follows: Fiscal Year 2025 Budget Improvements 11 Total Budgeted Cost Management Fee 1 $19,951.00 Security $310,000.00 Litter Pickup $24,336.00 Community Marketing/Events $2,000.00 Communications $2,500.00 AuditlAnnuai Review $3,000.00 City Administrative Fee $6,986.00 Total Expenses $368,773.00 The total budgeted costs of the improvements and services are in the amount of $368,773.00. Of this Amount, $349,293.00 will be funded by assessments collected on privately owned parcels located in the East Lancaster PID by applying a rate of $0,266 per each $100.00 of property value. This is the same assessment rate as last year. The remainder of the costs in the amount of $19,480.00 will be 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 East Lancaster 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 East Lancaster PID on August 16, 2024, in accordance with state law. The East Lancaster PID is located in COUNCIL DISTRICTS 8 & 11. FISCAL INFORMATION l CERTIFICATION: The Director of Finance certifies that upon approval of the above recommendations and the adoption of the Fiscal Year 2024-2025 Budget by the City Council, funds will be available in the Fiscal Year 2025 operating budget, as appropriated, in the FVVPID #20 - East Lancaster Ave Fund. Prior to any expenditure being incurred, the Economic Development Department has the responsibility to validate the availability of funds. Submitted for City Manages Office by: William Johnson 5806 Originating Business Urtt Head: Robert Stums 2663 Additional Information Contact: Lacey Ruiz 2608