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Home My WebLink AboutOrdinance 27591-04-2025ORDINANCE NO.27591-04-2025 AN ORDINANCE AMENDING THE FISCAL YEAR 2024-2025 BUDGET AND FIVE- YEAR SERVICE PLAN FOR PUBLIC IMPROVEMENT DISTRICT NO.12 — CHAPEL HILL; 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 March 23, 2004, the City Council of the City of Fort Worth ("City Council") authorized the establishment of Public Improvement District No. 12 — Chapel Hill ("District"), as a public improvement district in accordance with the Act and Resolution No. 3060; WHEREAS, on September 17, 2024, the City Council adopted Ordinance No. 27164-09-2024, 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. 27164-09-2024; 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 Plan 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 1 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 5. 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 (71h) 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: 1-aLt Y Coll&j�lBY Lamer (Apr 30, 2025 15:20 CDT) Larry Collister, Sr. Assistant City Attorney M&C: 25-0372 Adopted and Effective: April 22, 2025 ATTEST: Jannette S. Goodall, City Secretary Ordinance No. 27541-04-2025 Page 2 of 3 EXHIBIT A AMENDED SERVICE PLAN City of Fort worth Five Year Service Plan FY 24-25 - FY 27-28 Public Improvement District No 12 - Chapel Hill MID YEAR ADJUSTMENT FY24125 FY25d26 FY26421 FY27r28 FY2sl29 REVENUES PtC Assessments $ 421,111 $ 433,74a S 446 757 S 460,159 S 473.964 City Payment it Lieu - Assessments S 1,035 Total Budgeted Revenues $ 422.146 $ 433,744 $ 446.757 S 460,159 f 473,$U Total Funds Available for Use $ 42ZI46 $ 433,744 S 446,757 S 460,159 S 473,11" EXPENSES hlanagerrent Fee $ 15,072 $ 15,373 S 15.681 S 15 995 S 16,314 Utilaies 22300 $ 22.746 S 23.201 S 23,661, S 24.136 Security 50.000 $ 51,500 S 53,045 S 54.636 S 56,275 landscaping 149.936 $ 86,635 S 98.361 S 90,135 S 91,937 Common Area Maintenance 82,000 $ 83.840 5 86.313 S 87,019 S 88.759 Corrmertications 8,000 S SAW S 8.323 S 8.490 S 8.659 AudiVAnnuai Review 3,000 $ 3,050 S 3,121 S 3.184 S 3.247 CapitallmprovemerKs 83,2oo $ 84,864 S 86,561 $ 88.293 S 90.058 City Administrative Fee 8,422 $ $ 590 5 6,762 S 8,937 9.479 Total Budgeted Expenses $ 421,930 S 364,569 S 372,376 $ 380,36E $ 386,669 Contribution to Furl Ballmin 216 69,176 74,382 79.80E B5.095 Total Expenses SLI49 433,744 446,737 460.169 473,964 Net Change in Fund Balance S 2" 69.176 74.382 79.110E S 65.065 Begmnmg Fund Balance Estimated (Yrs 2-51 488.826 489.042 568.218 632.599 712.40E Estimated Fund Sa=ance. Eric of Year 489,042 558,21E 632.599 712.406 797.501 Reserve Requirement f0.774 60.774 62.075 63.405 64.825 Over(Undert Reserve $ 423.268 497,444 570,525 649.001 732.676 'FY2025 Assessment Rate = $.14 The total budgeted costs of the improvements and services for the District for fiscal year 2024-2025 are $422,146,00. Of this amount, $421,111.00 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: • $1,035.00 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. 27591-04-2025 Page 3 of 3 City of Fort Worth Five Year Service Plan FY 24-25 - FY 27-28 Public Improvement District No. 12 - Chapel Hill MID YEAR ADJUSTMENT FY24126 FY25126 FY26127 FY27128 FY28129 REVENUES PIDAsseasments $ 421,111 $ 433,744 $ 446,757 $ 460,159 $ 473,964 City Payment in Lieu - Assessments $ 1,035 Total Budgeted Revenues $ 422,146 $ 433,744 $ 446,767 $ , 460,159 $ 473,964 Total Funds Available for Use $ 422,146 $ 433,744 $ 446,757 $ 460,159 $ 473,964 EXPENSES Management Fee Utilities Security Landscaping Common Area Maintenance Communications Audit/Annual Review Capital Improvements City Administrative Fee Total Budgeted Expenses Contribution to Fund Balance Total Expenses Net Change In Fund Balance Beginning Fund Balance, Estimated (Yrs 2-5) Estimated Fund Balance, End of Year Reserve Requirement Over (Under) Reserve 'FY2025 Assessment Rate = $.14 $ 15,072 $ 15,373 $ 16.681 $ 15,995 $ 16,314 22,300 $ 22,746 $ 23.201 $ 23,665 $ 24,138 50,000 $ 51,500 $ 53,045 $ 54,635 $ 56,275 149,936 $ 86,635 $ 88.367 $ 90,135 $ 91,937 82,000 $ 83,640 $ 85,313 $ 87,019 $ 88,759 8,000 $ 8,160 $ 8,323 $ 8,490 $ 8,659 3,000 $ 3,060 $ 3,121 $ 3,184 $ 3,247 83,200 $ 84,864 $ 86.561 $ 88,293 $ 90,058 8,422 $ 8,590 $ 8.762 $ 8,937 9,479 $ 421.930 $ 364,569 $ 372,376 $ 380,353 $ 388,869 216 69,176 74,382 79,806 85,095 422,146 433,744 446,757 460,159 473,964 $ 216 69,176 74,382 79,806 $ 85,095 488,826 489,042 558,218 632,599 712,406 489,042 558,218 632,599 712,406 797,501 60,774 60,774 62,075 63.405 64,825 $ 428,268 497,444 570,525 649,001 732,676 City of Fort Worth, Texas Mayor and Council Communication DATE: 04/22/25 M&C FILE NUMBER: M&C 25-0372 LOG NAME: 17PID12 MIDYEAR FY25 SUBJECT (CD 7) Adopt Ordinance Amending the Fort Worth Public Improvement District 12 — Chapel Hill Fiscal Year 2024-2025 Adopted Budget and Five - Year Service Plan and Adopt Appropriation Ordinance j31sCOMMENDAT[0N: It is recommended that the City Council: 1. Adopt the attached ordinance amending the Public Improvement District 12 — Chapel Hill 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. Adopt the attached appropriation ordinance reallocating estimated receipts and appropriations in the Fort Worth Public Improvement District 12- Chapel Hill Fund by decreasing appropriations in the transfers & other categories in the amount of $55,500.00, and increasing appropriations in the General operating & maintenance category by the same amount, for the purpose of funding mid year budget adjustments. 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 12 — Chapel Hill (or the Chapel Hill PID) is managed by FirstService Residential Texas PID, LLC (FirstService). On September 17, 2024, City Council adopted Ordinance No. 27164-09-2024, approving the Fiscal Year (FY) 2024-2025 Budget, Five -Year Service Plan, Assessment Plan, and Tax Year 2024 Assessment Roll for the Chapel Hill PID. After conducting a mid -year review of the Chapel Hill PID's budget, City staff and FirstService Residential Texas PID, LLC, have identified the need to reallocate funds in Chapel Hill PID's budget in the amount of $55,500.00, for the purpose of mid -year budget adjustments. The primary factors contributing to expenditure adjustments include increased spending on utilities, adding security as a line item to fund security patrols, and decreasing the amount contributed to the fund balance. Revenue Adjustments: Previously Recommended Amended Line Item Approved FY25 Mid -Year FY25 Budget Budget Item Adjustment Item PID Assessments COFW Assessment $421,111.00 $1,035.00 $0.00 $0.00 $421,111.00 $1,035.00 Totals�J $422,146.00 1 $0.00 $422,146.00� Expenditure Adjustments: Line Item Previously Approved FY25 Budget Item Recommended Mid -Year Adjustment Amended FY25 Budget Item Management Fee $15,072.001 $0.00 $15,072.00 Utilities $16,800.00 $5,500.00 $22,300.00 Security $0.00 $50,000.00 $50,000.00 Landscaping =5-149,936.061 $0.00 $149,936.00 Common Area Maintenance]$82,OD0.00 $0.00 $82,000.00 Communications $8,000.00 $0.00 $8,000.00 Audit/Annual Review F—$3—,000,0011 $0.001 $3,000.00 Capital improvements $83,200.00 $0.00 $83,200.00 City Administrative Fee Contribution to Fund Balance $8,422.00� $55,716.00 $0.00] ($55,500.00) $8,422.00 $216.00 Totals $422,146.OD $O.OD $422,146.00 Upon approval of the above recommendation, the total budgeted expenses for FY 2024-2025 will be $422,146.00. The revised Budget and Five - Year Service Plan will take effect upon approval by City Council. The City and FirstService will amend the existing management contract to reflect the mid -year adjustment (City Secretary Contract No.62187). The Chapel Hill PID is located in COUNCIL DISTRICT 7. 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 upon approval of the above recommendations and adoption of the ordinance, funds will be available in the current operating budget, as appropriated, in the FWPID #12 - Chapel Hill Fund. Priorto any expenditure being incurred, the Economic Development Department has the responsibility to validate the availability of funds. Submitted for City Manager's Office by. Jesica McE;achem 5804 Origina i cLE3usiness Unit Head: Kevin Gunn 2015 Additional Information Contact: Crystal Hinojosa 7808 Expedited