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Home My WebLink AboutOrdinance 27582-04-2025ORDINANCE NO.27582-04-2025 AN ORDINANCE AMENDING THE FISCAL YEAR 2024-2025 BUDGET AND FIVE- YEAR SERVICE PLAN FOR PUBLIC IMPROVEMENT DISTRICT NO. 6 — PARK GLEN; MAKING THIS ORDINANCE CUMULATIVE OF ALL OTHER ORDINANCES; PROVIDING FOR A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Public Improvement District Assessment Act, Chapter 372 of the Texas Local Government Code ("Act"), allows for the creation of public improvement districts; WHEREAS, on September 22, 1998, the City Council of the City of Fort Worth ("City Council") authorized the establishment of Public Improvement District No. 6 — Park Glen ("District"), as a public improvement district in accordance with the Act and Resolution No. 2453; WHEREAS, on September 17, 2024, the City Council adopted Ordinance No. 27158-09-2024, approving the fiscal year 2024-2025 budget, five-year service plan, assessment plan, and tax year 2024 assessment roll for the District; WHEREAS, the City Council desires to amend the fiscal year 2024-2025 budget and five-year service plan ("Amended Service Plan"), which is attached hereto as Exhibit A and incorporated herein for all purposes; WHEREAS, the Amended Service Plan is intended to supersede the Service Plan set out in Ordinance No. 27158-09-2024; and WHEREAS, the Amended Service Plan will not affect the previously adopted Assessment Plan or Assessment Roll. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS THAT: SECTION 1. The Recitals and findings listed above are true and correct and form the basis upon which this Ordinance is being adopted and are incorporated herein by reference. SECTION 2. The City Council hereby approves and adopts the Amended Service Plan for fiscal year 2024-2025. In doing so, the City Council finds that the supplemental services and improvements set forth in the Service PIan are feasible and advisable and will serve the needs and desires of the property owners in the District. SECTION 3. 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 shall remain in full force and effect. Page 3 of 3 SECTION 4. This Ordinance is cumulative of 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 S. The City Secretary is directed to cause a copy of this Ordinance to be recorded in the real property records of Tarrant County, Texas no later than the seventh (7') day after the adopted date of this Ordinance. SECTION 6. This Ordinance takes effect and will be in full force and effect from and after the date of its passage. AND IT IS SO ORDAINED. APPROVED AS TO FORM AND LEGALITY: Larry Collis r (Apr 30, 2025 15:18 COT( Larry Collister, Sr. Assistant City Attorney M&C: 25-0366 Adopted and Effective: April 22, 2025 ATTEST: Jannette S. Goodall, City Secretary Ordinance No. 27582-04-2025 Page 2 of 3 REVENUES PID Assessments' COFW Payment in lieu of Services COFW Assessment Total Budgeted Revenues Use o1 Fund Balance EXHIBIT A AMENDED SERVICE PLAN City of Fort Worth Five Year Service Plan FY24 - FY2111 Public Improvement District No. 6 - Park Glen Mid -Year Adjustment FY2CH FY25'26 FY26127 S 2.320.056 S 2,aX D56 S 2.412,658 334.799 270,925 270,925 7.303 7298 7298 2.i62.1SB 5 Z598.279 3 2,691,081 FY27128 FY28R9 $2.412.858 S 2,509.373 270.925 270.925 7 298 6 897 3 2,691,081 S 2,787,195 Total Revenues S 2,662158 S 2,698,279 S 2,691,091 S 2.621,0111 $2,787,163 EXPENSES Managemer! Fee S 160.277 3 165,M5 S 170.038 S 175,139 $ 180.393 Utilities 212,DW 206,040 210.161 214 364 218,651 Landscaping 1,473250 LM.125 1.250.125 1,248,D00 1,248,000 Common Area Maintenance 205900 315.000 81.000 243,D00 215.000 Holiday Decoration 53.DD0 23,000 33.000 33,DOD 23.D00 SecurityEni-ancemerits 255,400 291,105 2%-930 302,869 308.926 Communications 14,500 14.500 20.000 20.000 20,000 Public Events 51,000 51,000 62 SW 62.8w 62.8W Capital I mprovemerds 130.000 215,000 450.000 200.000 105.000 Annual Rev#ew 5.100 5-100 5.100 5,1 D0 5.100 City Administratwe Fee 51,966 51-996 53.822 53,822 55,744 Total Budgeted Expenses S 2,641,493 $ 2,S87,924 ; 2,632,975 S 2,S58,093 S 2,442.614 Con1'ibution to Fund Balance 20,665 10,355 W106 132,988 344.581 total Expense $ 2,662,1S8 S 2,S981279 S 2'"1'081 $ 2,691,081 $ 2,787,195 Net Change in Fund Balance S 20,665 3 10,3S5 ; S8,106 $ 428,775 S 344,581 Segirxung Fund Balance, Estimaled (Yrs 2.5p 778.346 799.011 809.366 867,472 446.526 Esuma,ed Fund Balance, End of Year 799.011 809.366 867,472 1.296.247 791.107 Reserve Recu!rement 431,407 438.417 426.434 426.434 440.337 over (Under} Reserve S 367,604 S 370.449 S 441,038 ; $69,013 S 350,770 'FY2025 Assessment Rate - S.155 Residential! S.035 Commercial The total budgeted costs of the improvements and services for the District for fiscal year 2024-2025 are $2,662,158.00, Of this amount, $2,320,056.00 will be funded by assessments collected on privately -owned parcels located in the District. The remainder of the costs will be funded by other revenue sources, including: • $334,799.00 in direct payments from the City for payment in lieu of services, which was appropriated from the General Fund balance by City Council action on September 17, 2024, and by this amendment; • $7,303.00 in direct payments from the City for payment in lieu of assessments, which was appropriated from the General Fund balance by City Council action on September 17, 2024, and by this amendment. Ordinance No. 27582-04-2025 Page 3 of 3 City of Fort Worth, Texas Mayor and Council Communication DATE: 04/22/25 LOG NAME: 17PID06 MIDYEAR FY25 SUBJECT M&C FILE~ NUMBER: M&C 25-0366 (CD 4) Adopt Ordinance Amending Public Improvement District 6 - Park Glen Fiscal Year2024-2025 Adopted Budget and Five -Year Service Plan; Authorize the Execution of an Amendment to the Associated Management and Improvement Services Agreement with FirstService Residential Texas PID, LLC to Align with these Changes; and Adopt Appropriation Ordinances RECOMMENDATION: It is recommended that the City Council: 1. Adopt the attached ordinance amending Public Improvement District 6 — Park Glen Fiscal Year 2024-2025 Budget and Five -Year Service Plan to reflect amendments associated with a mid -year review; and direct the City Secretary to record the same in the real property records of Tarrant County, Texas no later than the seventh (7th) day after adoption by the City Council; and 2. Authorize the execution of an amendment to the associated Management and Improvement Services Agreement with FirstService Residential Texas PID, LLC (City Secretary Contract No. 62190) to 3. Adopt the attached appropriation ordinance reallocating estimated General Fund by decreasing appropriations in the General Operati appropriations in the Transfers & Other category by the same amot 6 -- Park Glen Fund for the Payment In -Lieu of Services; and align with these changes; and receipts and appropriations in the Park & Recreation Department of the ig & Maintenance category in the amount of $63,874.00, and increasing nt, for the purpose of funding the Fort Worth Public Improvement District 4. Adopt the attached appropriation ordinance reallocating estimated receipts and appropriations in the Public Improvement District 6 — Park Glen Fund 1) by increasing in the amount of $63,874.00, transferred from Park and Recreation Department, 2) decreasing the use of fund balance in the amount of $43,209.00, and 3) increasing contribution to fund balance in the amount of $20,665.00, for the purpose of funding Payment In -Lieu Services for the mid year adjustment. DISCUSSION: The City of Fort Worth's Department of Economic Development administers the City's Public Improvement Districts (PIDs). The City's PID Policy outlines the need to proactively work with the City's PID management companies to oversee the services being provided within each of the PIDs. PID 6 — Park Glen (Park Glen PID) is managed by FirstService Residential Texas PID, LLC (FirstService). On September 17, 2024, City Council adopted Ordinance No. 27158-09-2024, approving the Fiscal Year (FY) 2024 2025 Budget, Five -Year Service Plan, Assessment Plan, and Tax Year 2024 Assessment Roll for the Park Glen P[D. After conducting a mid -year review of the Park Glen PID's budget, City staff and FirstService has identified the need to increase Paris Glen P1D's (City of Fort Worth) allocations by $20,665.00 to account for $63,874.00 additional payment in -lieu of services. The additional revenue increase will result in a reduction to the original use of fund balance in the amount of $43,209.00. The primary factors driving expenditure adjustments include higher utility costs from newly added watering areas, increased landscaping expenses for grading and erosion projects, and elevated electrical maintenance costs due to lighting upkeep and repairs. The City's Payment In -Lieu of Services is a supplement to the PID budget and intended to provide for the standard level of improvements and services as comparable to what would be provided by the City for the taxpayers generally. Revenue Adjustments: Line Items to be Adjusted Previously Approved FY25 Budget Item Recommended Mid Year Adjustment Amended FY25 Budget Item PID Assessments $2,320,056.00 $0.00 $2,320,056.00 COFW Payment in lieu $270,925.00 $63,874.00 $334,799.00 of Services COFW Assessment $7,303.00 $0.00 $7,303.00 Use of Fund Balance $43,209.00 ($431209.00) Totals $21641,493.00 $20,665.00 $2,662,158.00 Expenditure Adjustments: Line Items 1 Previously Approved FY25 Budget Item Recommended Mid -Year Adjustment Amended FY25 Budget item Management Fee 1 $160,277.001 $0.00 $160,277.00 Utilities 11 $202,000.0011 $10,000.00 $212,000.00 Landscaping Common Area Maintenance $1,388,250.00 $200,000.00 $85,000.001 $5,000.00 $1,473,250.00 $205,000.00 Holiday Decoration $53,000.00 $0.00 $53,000.00 Security Enhancements $285,400.00 $0.00j $285,400.00 Communications $14,500,.00 $0.00JI $14,500.00 Public Events Capital Improvements $51,000.00 1 $230,000.00 IK0ql $(100,000.00)1 $51,000.06 $130,000.00 Annual Review City Administrative Fee $5,100.0011 $51,966A0 $0.01 $O.OD $5,100.00 $51,966.00 Contribution to Fund Balance $0.0011 $20,665.0011 $20,665.00 Totals $2,641,493.00� $20,665.0011 $2,662,158.00 Upon approval of the above recommendations, the total budgeted expenses for FY 2024-2025 will be $2,662,158.00. The revised Budget and Five -Year Service Plan will take effect upon approval by City Council. The City and FirstService will update the existing contract to reflect the mid- year adjustment (City Secretary Contract No. 62190). The Park Glen PID is located in COUNCIL DISTRICT 4. A Form 1295 is not required because: This M&C does not request approval of a contract with a business entity. FISCAL. INFORMATION ! CERTIFICATION: The Director of Finance certifies that funds are currently available in the General Fund and upon approval of the above recommendations and adoption of the attached appropriation ordinances, funds will be available in the FWPID #6 — Park Glen Fund. Prior to an expenditure being incurred, the Economic Development Department has the responsibility of verifying the availability of funds. Submitted for City Manager's Office by Jesica McEachem 5804 Originating Business Unit Head: Kevin Gunn 2015 Additional Information Contact: Crystal Hinojosa 7808 Expedited