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Home My WebLink AboutResolution 6099-05-2025A Resolution NO. 6099-05-2025 APPROYINGANAMENDED B UDGET AND THREE-YEAR SERVICE PLAN FOR FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO.18 (TOURISM PID) FOR FISCAL YEAR 2024 2025 WHEREAS, pursuant to Resolution No. 4837-08-2017, the City Council established the Fort Worth Public Improvement District No. 18 ("Tourism PID") on August 29, 2017. WHEREAS, in accordance with Chapter 372 of the Texas Local Government Code, on, September 17, 2024, the City Council approved a budget for the 2024-2025 fiscal year and a three-year service plan for the Tourism PID pursuant to M&C 24-0780. WHEREAS, pursuant to City Secretary Contract No. 50298, the City has contracted with the Fort Worth Tourism Public Improvement District and Fort Worth Convention and Visitors Bureau (collectively, "Contractors") to manage the day-to-day administration of the Tourism PID; WHEREAS, in accordance with the Texas Local Government Code, the City has assigned to Contractors the responsibility for preparing the annual budget and service plan for the Tourism PID; WHEREAS, City staff annually conducts mid -year reviews of the Tourism PID budget to ensure that actual Tourism PID expenditures correspond with budgeted expenses; and WHEREAS, in consultation with the Contractors regarding actual Tourism PID expenditures and necessary programs and services required to date, City staff recommends that the City Council approve an amended budget for the Tourism PID for the 2024-2025 fiscal year and three-year service plan. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS THAT: 1. The Fiscal Year 2024-2025 Budget and Three -Year Service PIan for the Tourism PID is hereby amended and approved in accordance with Exhibit "A", which is attached hereto. 2. This Resolution shall take effect immediately following its adoption. Adopted this 13th day of May 2025. ATTEST: By: �= Janette S. Goodall, City Secretary N EXHIBIT A City of FOO Worth Three Year 's'e ice Plan Publ[c.lrnp�overnent District No.AS -'rourisrn - - .'U'-' .. . I - MID YEAR ADJ STMENT P.]Assessni6ls Totai Funds Available for Use 'EbiPENSES Incentives & 531eS Efforts Marketing ' and Research (Promotion/ Advertising) Site 'g;is Familiarization Tours Cul �t tural Ephanc-Offients throuOh Maf kmlhand rwomotion of the Aa3 6per6tionsA Administration ty Ad re, n-, s.t.6,e.Feq Total Budgeted Expenses Contributi6n W Fund Balance .. . - . I - . Total E9 penseis ld9t!Chanae in Fund Balance 860nnrng i:�nd i36nW, EsffMated (Yrs 2-5)' F-sbat ' iWFund Balance, Eno of Year Reserve RequireTmi over (tinder) Reserve FV24125 r-Y25126 k20127 S 7,750,000 S'-.13.066.060 5 8,380.000 $ 3.962.926 S .-4.122.575 S . 4.287.375 2,6�93,250 2891.750 2,913.750 4900 160,106 10.660, 577J25 660,375 E2,4,375 307,000 320,2.00 333,!000 55, POO 55.000 0'006 $ 7,750,000 S :8,060,000. S 8138.0,000 $ %380,000 S;..8,0601000' $ U50.000 A % 4300,000 8,300'000 61300,000 6j300.000 6,300,000 1,396,346 -1.396,946 1.396,646 $ 4,963,054 S. A961054 S 4,503,1154 I City of Fort worth Three Year Service Plan Public Improvement District No. 18 - Tourism - MidYear Update REVENUES P1D Assessments Use of Fund Balance Total Funds Available for Use EXPENSES Incentives & Sales Efforts Marketing and Research (Promotion/Advertising) Site Visits & Familiarization Tours Cultural Enhancements through Marketing and promotion of the Arts Operations & Administration City Administrative Fee Total Budgeted Expenses $ 7,750,000 $ 8,060,000 $ 8,380,000 $ 3,962,925 $ 4,122,575 $ 4,287,375 2,693,250 2,801,750 2,913,750 153,900 160,100 166,500 577,125 600,375 624,375 307,800 320,200 333,000 55,000 55,000 55,000 Tourism PID Hotels Updated as of 412212024 Account Name Address City, State, Zip RIVIS AC Hotel Fort Worth - Downtown 610 Main St Fort Worth, TX 76102 252 Aloft Downtown Fort Worth 300 Throckmorton Fort Worth, TX 76102 180 American Airlines Training and Conference Center 4500 American Blvd. Fort Worth, TX 76155 299 Autograph Collection Downtown Fort Worth 512 Main St. Fort Worth, TX 76102 165 Avid Hotel 320 Samuels Ave. Fort Worth, TX 76102 104 Bowie House 3700 Camp Bowie Blvd, Fort Worth, TX 76107 106 Budget Suites of America - Fossil Creek 3500 NE Loop 820 Fort Worth, TX 76137 366 Candlewood Suites - DFW South 4200 Reggis Drive Fort Worth, TX 76155 174 Courtyard by Marriott - Alliance 3001 Amador Dr. Fort Worth, TX 76244 127 Courtyard by Marriott - Blackstone 609 Main Street Fort Worth, TX 76102 203 Courtyard by Marriott - Stockyards 2537 Main St. Fort Worth, TX 76164 124 Courtyard by Marriott - University Drive 3150 Riverfront Fort Worth, TX 76107 130 Courtyard by Marriott - West at Cityview 6400 Overton Ridge Boulevard Fort Worth, TX 76132 104 Dalworth Inn 812 E. Felix Street Fort Worth, TX 76115 120 DFW Airport Marriott South 4151 Centreport Boulevard Fort Worth, TX 76155 295 DFW Marriott Hotel and Golf Club at Champions Circle 3300 Championship Pkwy Fort Worth, TX 76177 286 Embassy Suites Hotel - Downtown Fort Worth 600 Commerce Street Fort Worth, TX 76102 158 Extended Stay America - City View 5065 Bryant Irvin Rd Fort Worth, TX 76132 104 Fairfield Inn & Suites Downtown 1010 Houston Fort Worth, TX 76102 110 Fairfield Inn & Suites Fossil Creek 3701 NE Loop 820 Fort Worth, TX 76137 106 Four Points by Sheraton Fort Worth 6828 North Freeway Fort Worth, TX 76137 113 Hampton Inn and Suites - West11-30 2700 Green Oaks Fort Worth, TX 76116 105 Hampton Inn and Suites - DFW South 4201 Reggis Court Fort Worth, TX 76155 116 Hampton Inn and Suites Downtown Fort Worth 1001 Commerce St. Fort Worth, TX 76102 245 Hilton Fort Worth 815 Main Street Fort Worth, TX 76102 294 Hilton Garden Inn - Fort Worth Alliance Airport 2600 Westport Parkway Fort Worth, TX 76177 127 Hilton Garden Inn - Medical Center 912 Northton Street Fort Worth, TX 76104 157 Holiday Inn - DFW Airport South 14320 Centre Station Road Fort Worth, TX 76155 143 Holiday Inn Express - Downtown 1111 W Lancaster Fort Worth, TX 76102 132 Holiday Inn North - Fossil Creek 4635 Gemini Place Fort Worth, TX 76106 126 Home2 Suites by Hilton - Cultural District 3000 & 3012 W Lancaster Ave Fort Worth, TX 76107 114 Homewood Suites - Fossil Creek 3701 Tanacross Fort Worth, TX 76137 137 Homewood Suites - Medical Center 2200 Charlie Lane Fort Worth, TX 76104 157 Hotel Drover, Autograph Collection 200 Mule Alley Drive Fort Worth, TX 76164 200 Hyatt Place - Alliance Town Center 3201 Alliance Town Center Fort Worth, TX 76177 130 Hyatt Place - Cityview 5900 Cityview Street Fort Worth, TX 76132 127 Hyatt Place - Stockyards 132 E Exchange FortWorth, TX 76164 100 Hyatt Place - TCU 2500 West Berry Street Fort Worth, TX 76109 127 Kimpton Hotel 714 Main Sit Fort Worth, TX 76102 232 La Quinta Inn and Suites - Fort Worth North 2501 Polaris Dr Fort Worth, TX 76137 133 La Quints Inn and Suites - Southwest 6100 Overton Ridge Fort Worth, TX 76132 128 Le Meridien 811 Commerce Street Fort Worth, TX 76102 188 Omni Fort Worth Hotel 1300 Houston Fort Worth, TX 76102 614 Quality Inn and Suites - Cattle Baron 2700 S Cherry Lane Fort Worth, TX 76116 109 Holiday Inn (Previously-Radisson -Fort Worth South Hotel) 100 Alta Mesa East Fort Worth, TX 76134 247 Radisson Hotel - Fort Worth Fossil Creek 2540 Meacham Street Fort Worth, TX 76106 247 Residence Inn - Alliance Airport 13400 North Freeway Fort Worth, TX 76177 111 Residence Inn - Cultural District 2500 Museum Way Fort Worth, TX 76107 150 Residence Inn - Waterside 5625 Arborlawn Drive Fort Worth, TX 76109 119 Sandman Signature Hotel 810 Houston Street Fort Worth, TX 76102 240 Sheraton Fort Worth Hotel and Spa 1601 Commerce Street Fort Worth, TX 76102 429 Sonesta ES Suites - (Previously- Residence Inn - Fossil Creek) 5801 Sandshell Drive Fort Worth, TX 76137 114 Sonest Select (Previously Courtyard by Marriott - Fossil Creek) 3751 NE Loop 820 Fort Worth, TX 76137 154 , SpringHill Suites by Marriott - Stockyards 2315 N Main St Fort Worth, TX 76164 170 SpringHill Suites by Marriott - University 3250 Lovell Street Fort Worth, TX 76107 145 TownePlace Suites Downtown 801 E Belknap Fort Worth, TX 76102 140 TownePlace Suites University 3450 W Vickery FartWorth, TX 76107 128 WoodSpring Suites Fort Worth 3501 NE Loop 820 Fort Worth, TX 76137 121 Worthington Renaissanoe Hotel 200 Main Street Fort Worth, TX 76102 504 Total # of Hotels: 59 * New Hotel Addition City of Fort Worth, Texas Mayor and Council Communication DATE: 05/13/25 MSC FILE NUMBER: M&C 25-0422 LOG NAME: 17PID18 MIDYEAR FY25 SUBJECT (ALL) Conduct Public Benefit Hearing Concerning the Following Matters Related to Fort Worth Public Improvement District No. 18 -- Tourism: (1) Expansion of the Tourism Public Improvement District to Include One Additional Hotel, (2) the Updated and Revised Fiscal Year 2024- 2025 Budget and Three -Year Service Plan, and (3) the 2024-2025 Assessment forthe Additional Hotel Property; Adopt Resolution Authorizing and Expanding the Tourism Public Improvement District to Include One Additional Hotel Property; Approve Attached Revised 2024- 202E Assessment Roll; Adopt Ordinance Levying Special Assessments on the Additional Hotel Property for Fiscal Year 2024-2025; Adopt Resolution Updating and Revising the Tourism Public Improvement District's Fiscal Year 2024-2025 Budget and Three -Year Service Plan; and Adopt Appropriation Ordinance (PUBLIC HEARING - a. Staff Available for Questions: Crystal Hinojosa; 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 following matters related to Fort Worth Public Improvement District No. 18 -- Tourism: (1) Expansion of the Tourism Public Improvement District to include one additional hotel property, (2) the updated and revised Fiscal Year 2024-2025 Budget and Three -Year Service Plan, and (3) the 2024-2025 Assessment for the additional hotel; 2. Adopt the attached Resolution: (i) making certain findings concerning the nature and advisability of special improvements and services to be provided for the benefit'of the additional hotel to be included in the Tourism Public improvement District, the estimated costs of such improvements and services, the method of assessment, the boundaries of the Tourism Public Improvement District, and the apportionment of costs between the Tourism Public Improvement District and the City, as a whole; and (ii) authorizing and expanding the Tourism Public Improvement District to include one additional hotel property; 3. Direct City Staff to record a copy of the Assessment Ordinance in the real property records of the appropriate county no later than the seventh (7th) day after adoption by the City Council; 4. Approve the attached revised 2024-2025 Assessment Roll; 5. Adopt the attached ordinance levying special assessments on the additional hotel property for Fiscal Year 2024-2025, 6. Adopt the attached resolution updating and revising the Tourism Public Improvement District's Fiscal Year2024-2025 Budget and Three - Year Service plan; and 7. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District 18 - Tourism Fund in the amount of $350,000.00, from available, unreserved fund balance, for the purpose of funding mid year budget adjustments. DISCUSSION: The purpose of this Mayor and Council Communication (M&C) is to conduct a public hearing concerning the expansion of the Tourism Public Improvement District (PID) to include one additional hotel property, the updated and revised Fiscal Year 2024-2025 budget and three-year service plan, and the 2024 2025 assessment for the additional hotel, along with certain actions related thereto. On August 29, 2017, the City Council adopted Resolution No. 4837-08-2017, establishing the Tourism PID (Establishing Resolution). The City Council subsequently adopted Resolution Nos. 5264-08-2020 (August 18, 2020), 5382-04-2021 (April 13, 2021), Resolution No. 5467-09- 2021 (September 14, 2021), Resolution No. 5561-04-2022 (April 12, 2022), 5958-05-2024 (May 14,2024), and 5998-08-2024 (August 27, 2024) expanding the boundaries of the Tourism PID to include additional hotel properties (Expansion Resolutions). Expansion of the Toufsm PID Boundaries and Petition: The current boundaries of the Tourism PID consist of noncontiguous areas authorized under Section 372.0035 of the Texas Local Government Code (Code) consisting solely of hotel properties with 100 or more rooms ordinarily used for sleeping within the City of Fort Worth. A list of the hotels that are included within the boundaries of the Tourism PID is included in the Original and Expansion Resolutions and attached hereto. Senate Bill (SB) 804, 87th Texas Legislature (2021), which went into effect on June 14, 2021, revised Section 372.0121 of the Code to clarify the ability of cities to add new hotels into an existing Tourism PID. One of the new provisions affects the way in which the City calculates (or recalculates) the percentage threshold for adding new hotels into the Tourism PID. SB 804 requires the City to update and recalculate each of the percentage thresholds set forth below every time a new hotel property is added to the Tourism PID. Conversely, the prior version of Section 372.0121 only required the City to calculate the impact that the new hotel property had on the pre-existing thresholds. For example, under SB 804, the City has to update and recalculate the appraised value of each and every existing property in the Tourism PID each time that a new hotel is added; whereas, under the prior legislation, the City simply carried forward the values of the existing hotel properties from the year the hotel properties entered into the Tourism PID. Section 372.0121, as revised, allows the City Council to include additional properties in the Tourism PID if (1) the property is a hotel and (ii) a sufficient number of the record owners of the real property currently included and proposed to be included in the Tourism PID have consented to be included in the Tourism PID by signing the original petition to establish the district or by signing a petition or written consent to include property in the Tourism PID. The number of consenting record owners is sufficient if (1) the record owners own more than 60% of appraised value of taxable real property liable for assessment in the Tourism PID; and either (i) constitute more than 60% of all record owners of taxable real property liable for assessment in the Tourism PID, or (ii) own, in aggregate, more than 60% of the area of all taxable real property liable for assessment in the Tourism PID. If the addition of the new properties results in these numbers dropping at or below the 60% threshold, then the properties may not be added. Inclusion of the Le Meridien hotel, located at 811 Commerce Street, Fort Worth, Texas 76102, meets both of the above -stated elements, therefore the hotel may be considered by the City Council for inclusion into the Tourism PID. First, the Le Meridien is a hotel property. With regard to the second element, the City Council found thet the previous two petitions (original and expanded) complied with Section 372.005 (b-1) of the Code because they had met the necessary percentages. The property owners, or their duly authorized representatives, for the new hotel property, have signed a petition requesting inclusion within the Tourism PID. This results in an increase to 81.79% of the appraised value of taxable real property liable for assessment, 70.39% for the area of all taxable real property liable for assessment, and 67:80% of record owners liable for assessment. Because the percentages are still above the 60.00% threshold, the properties meet the second element. Nature of the Improvements: The goals of the Tourism PID focus on increasing the economic impact and enhancing competitiveness in conventions, meetings, leisure and sports tourism, and increasing tourism -related economic activity at all times, including during economic downturns and as inventory grows. The Tourism PID projects include incentives and sales efforts, convention and sports marketing and promotion, site visits and familiarization tours, community arts grants, convention services, event funding applications, operations, research, and administration, all of which benefit the hotels within the Tourism PID. Method of Assessment and Apportionment of Costs: The assessment rate will be an amount equal to 2.00% of the consideration received from the occupancy of any sleeping room furnished by a hotel located within the Tourism PID, with such assessment to be collected in the same manner and in accordance with the same procedures as those established for the collection of the City's Hotel Occupancy Tax, as set forth in Chapter 32, Article 11 of the City Code, as amended. The entire costs of each improvement and service will be paid from the above -stated assessments and no City funds will be used to pay any portion of such costs unless such funding is approved by the City Council on a case -by -case basis. Estimated Costs of the Improvements and Services: The total estimated costs forthe proposed services and improvements for the life of the Tourism PID (approximately three years) will be $24,190,000.00, which includes an estimated cost of $350,000.00 for the Fiscal Year 2024-2025 Mid Year Budget Adjustment. The updated and revised budget and three-year service plan is set forth in more detail below and attached. The final version will be subject to approval by the City Council. The estimated costs of the proposed improvements and services to be provided in subsequent years will be subject to future annual budget and service and assessment plans adopted by the City Council in accordance with the Code. The actual costs of improvements and services will be determined in accordance with the approved budget and service plan to be adopted by City Council and will be paid from Tourism PID assessments. Advisability: Staff recommends that the City Council find that these improvements and services are advisable because they will promote the interests of the City and confer a special benefit on the assessed properties within the expanded boundary of the Tourism PID. Staff recommendation: The Petition has been examined, verified, and found by City staff to meet the requirements of the Code. Therefore, staff recommends that the City Council find that the Petition to include the above -stated three hotel properties meets the requirements of the Code. Tourism PID Mid Year Ad'ust ents The Tourism PID is funded through a 2% assessment on the consideration received from occupancy of any sleeping room furnished by a hotel in the Tourism PID. Due to the most recent forecast analysis, Tourism PID assessment revenue is now projected to be 4.73% or $350,000.00 more than originally budgeted. The budgeted expenses show an increase in each category line item for the current fiscal year service plan (see table below). Revenue adjustments: Line Items Recommended Amended to be Previously Approved Mid Year FY25 Budget Adjusted FY25 Budget Item Adjustment Item PID $7,400,000.00 $350,000.00 $7,750,000.00 Assessments , Totals $7,400,000.0011 $350,000A0 $7,750,000.00 Expenditures adjustments: Line Items Recommended Amended to Previously Approved Mid Year FY25 Budget be Adjusted FY25 Budget Item Adjustment Item Incentives Eff& Salesrt $3,782,675.00 $180,250.00 $3,962,925.00 Marketing and Research (Promotion/ $2,570,750.00 $122,500.00 $2,693,250.00 Advertising) Visits & Familiarization E $146,900.00 $7,000.00 $153,900.00 s Cultural Enhancements through_) Marketing and $550,875.00 $26,250.00 $577,125.00 promotion of the Arts 11 Operations Administra$307,800.00 n $293,800.00 $14,000.00 City Administrative $55,000.00 $0.00 $55,000.00 Fee Totals $7,400,000.00 $350,000.0D $7,750,000.00 Staff supports Fort Worth Tourism PID Corporation and Convention & Visitor Bureau's recommended mid -year budget adjustments. Upon approval of the above recommendations, the total budgeted expenses for FY 2024-2025 will be $7,750,000.00. The revised Budget and three- year service plan will take effect upon approval by City Council. The proposed changes to the Tourism PID's FY 2024-2025 budget complies with the City's reserve requirements. Funding is available for appropriation in the fund balance of the FWPID #18 - Tourism Fund. The beginning balance is $7,902,711.97, After this M&C, the available balance will be $7,552,711.97. The Tourism PID properties are located in ALL COUNCIL DISTRICTS. A Form 1295 is not required because: This M&C does not request approval of a contract with a business entity. FISCAL INFORMATION 1 CERTIFICATION: The Director of Finance certifies that upon approval of the recommendations and adoption of the attached appropriation ordinance, funds will be available in the current operating budget, as appropriated, in the FWPID ##18 -Tourism Fund. Priorto any expenditure being incurred, the Economic Development Department has the responsibility to validate the availability of funds. Submitted for City Managers -Office b5L Jesica McEachem 5804 Orliginatina Business Unit Head: Kevin Gunn 2015 Additional Information Contact: Crystal Hinojosa 7808 Mm N[! Y •i uM� iaP� AyrVuym3x %R>�ti t■ 1 .n�w17 .-1 . -.mum o n.nain Tma Tenri.'.rnae� T. rlAn xuYBpilxCxplf] r Aa avuxaR n nN1 }euYYNenW131R[W xpl0.11L aA.VW /D65f£a ouwnRiv 11AgJFN 1laLDLD 4dnl600 vAu n11! l MRYXIVIARdYF.E lINW46 ANp[OV <aill xIf.C4 AYW�rtlTWWw: u.p[v r pLLCIgY p!/lnfp [.Mtl AN alm.YPvuNaw 1/RNµYaCFM1TUINFI'Ahm.66tl lAYLlGNNIWxFSIWC 15YYNLW lAMp4&u WATWORMhlIlSS Rpv® ]pPm.® Y!p ! AYF0614MEg1EETg460MN1pWN v�[iu Rxol0. Y IROYYl p�drad NLW01 ANhd ]0]I AWNp Ala lt]NwiR fp.rW04XOXGNa 1pW4LMNlnq pxtlM MSMg611C klNptdIDN LT fTFYT {ptt WMrittxiO?Wl fpnl WplLlXpYaNNTOWM/W[NN btOFTWup¢wlLv nMm] ill,Om lArmpm Nt.® t BLx]cnsuRla Ax[LGfdpISYFt. ddD6R]dRE6 N a]Iwo! 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