HomeMy WebLinkAboutOrdinance 27173-09-2024Ordinance No. 27173-09-2024
AN ORDINANCE ADJUSTING ESTIMATED RECEIPTS AND
APPROPRIATIONS BY INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE FORT WORTH PUBLIC IMPROVEMENT
DISTRICT 21- LAS VEGAS TRAIL FUND IN THE AMOUNT OF
$400,879.00 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 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 Jmprovement District 21 - Las Vegas Trail Fund in the amount of$400,879.00 from available
funds.
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 ofcompetent 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said prior ordinances and appropriations are hereby expressly repealed.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
14
City of Fort Worth
Five Year Service Plan
Public Improvement District No. 21 - Las Vegas Trail
FY 24125 FY 25126 FY 26127 FY 27128 FY 28129
REVENUES
PID Assessments $ 400,879 $ 420,923 $ 441,969 $ 464,068 $ 487,271
Total Budgeted Revenue $ 400,879 $ 420,923 $ 441,969 $ 464,068 $ 487,271
Use of Fund Balance
Total Funds Available for Use
EXPENSES
Management Fee
Public Safety
Community Center Operations
Community Enhancement
Communications
City Administrative Fee
City Audit
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 = $.10
$ 400,879 $ 420,923 $ 441,969 $ 464,066 $ 487,271
$ 29,557
$
30,444
$
31,357
$
32,298
$
33,267
235,670
$
242,740
$
250,022
$
257,523
$
266,249
90,420
$
93,133
$
95,927
$
98,804
$
101,769
31,714
$
32,666
$
33,646
$
34,655
$
35,695
2,500
$
2,575
$
2,652
$
2,732
$
2,814
8,018
$
8,258
$
8,506
$
8,761
$
9,024
3,000
$
3,090
$
3,183
$
3,278
$
3,377
$ 400,879
$
412,905
$
425,292
$
438,051
$
451,193
0
8,018
16,677
26,016
36,078
$ 400,879
$ 420,923
$ 441,969
$ 464,068
$ 487,271
$ 0
$ 8,018
$ 16,677
$ 26,016
$ 36,078
98.502
98,503
106,520
123,197
149,214
98,503
106,520
123,197
149,214
185.292
68,831
70,896
73,023
75,214
75,214
$ 29,671
$ 35,624
$ 50,174
$ 74,000
$ 110,078
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City of Fort Worth, Texas
Mayor and Council Communication
DATE: 09/17/24 M&C FILE NUMBER: M&C 24-0779
LOG NAME: 17ED PID21 FY25
SUBJECT
(CD 3) Conduct Public Benefit Hearing for Fort Worth Public Improvement District 21 — Las Vegas Trail, 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 forthe 2024 Tax Year at a Rate of $0.10 Per Each $100.00 of Property Value, Authorize Execution of an Agreement with
FirstService Residential Texas PID, LLC., in the Amount of $29,557.00 to Manage the Fort Worth Public Improvement District 21 -- Las Vegas
Trail, 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 21 — Las Vegas Trail for the 2024 tax year,
2. Adapt the attached ordinance (1) approving and adopting the Fiscal Year 2024-2025 budget in the amount of $400,879.00, five-year service
plan, assessment plan, and tax year 2024 assessment roll (on file with the City Secretary) for the Las Vegas Trail Public Improvement
District; and (2) levying special assessments on privately -owned property located in the Las Vegas Trail Public Improvement District for the
2024 tax year at the rates of $0.10 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 (71h) day after adoption by the City Council;
4. Authorize the execution of an agreement with FirstService Residential Texas PID, LLC., in the amount of $29,557.00 to provide management
of the improvements and services for the Las Vegas Trail 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
21 - Las Vegas Trail Fund in the amount of $400,879.00 from available funds.
DISCUSSION:
On June 22, 2021, the Mayor and City Council adopted Resolution No. 5428-06-2021 establishing Fort Worth Public Improvement District No. 21,
Las Vegas Trail (Las Vegas Trail PID). State law requires an annual report on the proposed budget and five-year service plan for the Las Vegas
Trail PID, which is attached.
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 Las Vegas Trail PID and the proposed assessments to be levied on each property in the Las Vegas Trail 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 Las Vegas Trail PID during the 2024-2025 Fiscal Year and the costs thereof are as follows:
Fiscal Year 2025 Budget
ments
Total Budgeted Cost
e
$29,557.00
E
$235,670.00ter
Operations
$90,420.00
ommunity Enhancement
$31,714.00
Communications
$2,500.00
City Audit
$3,000.00
City Administrative Fee
$8,018.00
Total Expenses
$400,879.0011
The total budgeted costs of the improvements and services are in the amount of $400,879.00. The entire amount of $400,879.00 will be funded by
assessments collected on privately owned parcels located in the Las Vegas Trail PID by applying a rate of $0.10 per each $100.00 of 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 Las Vegas Trail 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 Las Vegas Trail PID on August 9, 2024, in accordance with
state law.
Funding will be budgeted within the FWPID #21 -- Las Vegas Trail Fund for Fiscal Year 2025,
The Las Vegas Trail PID is located in COUNCIL DISTRICT 3.
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 will be available in the Fiscal Year 2025 operating budget, as appropriated, in the FWPID #21 —Las Vegas Trail 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 Unit Head: Robert Stums 2663
Additional Information Contact: Lacey Ruiz 2608