HomeMy WebLinkAboutOrdinance 15585Ordinance No. ~~~
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AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE GRANTS FUND IN THE AMOUNT OF
$1,500,000.00, FROM AVAILABLE FUNDS, FOR THE PURPOSE OF FUNDING
THE EVANS AVENUE/ROSEDALE STREET BUSINESS AND CULTURAL
DISTRICT PROJECT; MAKING THIS ORDINANCE CUMULATIVE OF PRIOR
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 in addition to those amounts allocated to the various City departments for Fiscal Year 2002-
2003 in the Budget. of the. City Manager, there shall also be increased estimated receipts and
appropriations in the Grants Fund in the amount of $1,500,000.00, from available funds, for the
purpose of funding the Evans Avenue/Rosedale Street Business and Cultural District Project.
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
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 No. 15184 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conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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 TO RM AND LEGALITY:
J ~
A sis t City orney
ADOPTED AND EFFECTIVE: lX I I ~ ~ ~ 3
City of FOYt Worth, Texas
1
DATE REFERENCE NUMBER LOG NAME PAGE
6/10/03 *~`G-13990 02HCED1 1 of 2
SUBJECT ADOPTION OF AN APPROPRIATION ORDINANCE FOR RECEIPT OF AN ECONOMIC
DEVELOPMENT INITIATIVE GRANT FOR THE EVANS AVENUE/ROSEDALE STREET
BUSINESS AND CULTURAL DISTRICT PROJECT
RECOMMENDATION:
It is recommended that the City Council adopt the attached appropriation ordinance increasing the
estimated receipts and appropriations in the Grants Fund by $1,500,000.
DISCUSSION:
On July 21, 1998 (M&C. C-1.6898), the City Council authorized the City Manager to submit ari
application to the U.S. Department of Housing and Urban Development (HUD) for an Economic
Development Initiative (EDI) grant in the amount of $1,500,000 for the Evans Avenue/Rosedale Street
Business and Cultural District project. On September 13, 2001, the City was awarded the grant. This
EDI grant was contingent upon the approval of $7,500,000 in Section 108 loan guarantees from HUD.
On May 1, 2001, the City was awarded the loan guarantees.
The Evans and Rosedale Business and Cultural District is a key development for the City and is located
along one of the designated commercial corridors. Development at this intersection can act as a
gateway between the Medical District to the west and the Near Southeast neighborhood to the east.
The City has committed over $3,000,000 from various funding sources to the redevelopment of this
project area and the reconstruction of Evans Avenue. This work, along with the future widening of
Rosedale Street, provides a unique opportunity to transform an underutilized area into a development
that produces jobs and provides services to nearby residents.
The proposed uses for the EDI grant are as follows:
• Infrastructure and Site Preparation
• Relocation Assistance
• Architectural/Engineering Design
• Debt Reserve
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City of Fort Wo~tlz, Texas
M,'Ayar And L'auncil Cammun;cAtian
DATE
6/10/03 REFERENCE NUMBER
**G-13990 LOG NAME
02HCED1 PAGE
2 of 2
SUBJECT ADOPTION OF AN APPROPRIATION ORDINANCE FOR RECEIPT OF AN ECONOMIC
DEVELOPMENT INITIATIVE GRANT FOR THE EVANS AVENUE/ROSEDALE STREET
BUSINESS AND CULTURAL DISTRICT PROJECT
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that upon adoption of the attached appropriation ordinance, funds will be
available in the current operating budget, as appropriated, of the Grants Fund.
MO:k
Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITE' SECRETARY
Office by: (to)
GR76 451727 002206$55000 $1,500,000.00
Marc Ott 8476 GR76 5 (various) 002206855010 $1,500,000.00
Originating Department Head:
Marc Ott 8476 (from) APPROVED 06/10/03
ORD. # 15585
Additional Information Contact:
Deidra Emerson 7563