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HomeMy WebLinkAboutResolution 6155-08-2025Resolution No. 6155-08-2025 A UTHORIZING AND EXPANDING FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 18 (TO URISM PID) TO INCL UDE ANADDITIONAL HOTEL AND TAKING CERAIN OTHER ACTIONS CONCERNING THE DISTRICT WHEREAS, the Public Improvement District Assessment Act, Chapter 372 of the Texas Local Government Code ("Act") allows for the establishment of public improvement districts; WHEREAS, on August 29, 2017, the City Council adopted Resolution No. 4837-08-2017, establishing Fort Worth Public Improvement District 18 - Tourism ("Tourism PID") ("Establishing Resolution'); WHEREAS, on August 18, 2020, April 13, 2021, September 14, 2021, April 26, 2022, May 21, 2024, August 27, 2024, and May 13, 2025, the City Council adopted Resolution Nos. 5264- 08-2020, 5382-04-2021, 5467-09-2021, 5561-04-2022, 5958-05-2024, 5998-08-2024, and 6098- 05-2025, respectively, expanding the boundaries of the Tourism PID (Resolution Nos. 5264-08- 2020, 5382-08-2021, 5467-09-2021, 5561-04-2022, 5958-05-2024, 5998-08-2024, and 6098-05- 2025 are collectively referred to as the "Expansion Resolutions"); WHEREAS, Section 372.0121 of the Act allows the City Council to include additional properties in the Tourism PID if (i) 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 Tourism PID or by signing a petition or written consent to include property in the Tourism PID; WHEREAS, 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 (2) 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; WHEREAS, another expansion petition ("Petition') was submitted to the City of Fort Worth, Texas ("City"), pursuant to the Act, from The Nobleman Hotel, located at 503 Bryan Ave, Fort Worth, Texas 76104, requesting to expand the Tourism PID boundaries to include an additional hotel property within the Tourism PID and has been on file in the office of the City Secretary for public inspection; WHEREAS, pursuant to Section 372.009 of the Act, the City provided notice and publication of two public hearings to be conducted on August 26, 2025, and September 16 , 2025 to consider the expansion of the Tourism PID ("Public Hearings"), which notice and publication included the following: (i) time and place of the Public Hearings; (ii) general nature of the proposed improvements and services; (iii) estimated costs of the improvements and services; (iv) expanded boundaries of the Tourism PID; (v) proposed method of assessment; and (vi) proposed apportionment of cost between the additional hotel property in Tourism PID and the City; WHEREAS, notice of the Public Hearings was published on August 8, 2025, in the Fort Worth Star -Telegram, a newspaper of general circulation in the City, and was also mailed on August 8, 2025, to all record owners of property in the Tourism PID liable for assessment, and all persons desiring to be heard were given a full and fair opportunity to be heard at the Public Hearing; WHEREAS, the City Council conducted and adjourned the Public Hearing to consider the expansion of the Tourism PID. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: 1. Recitals. The findings set forth in the recitals of this Resolution are found to be true and correct. 2. Findings. The City Council, after duly considering the evidence and testimony presented at the Public Hearings and based on all information known by the City Council, hereby makes the following findings: 2.1 Petition and Boundaries. (a) The current boundaries of the Tourism PID consist of noncontiguous areas authorized under Section 372.0035 of the Act consisting solely of hotel properties with 100 or more rooms ordinarily used for sleeping within the City of Fort Worth. The lists of the original and additional hotels that are included within the boundaries of the Tourism PID are included in the Establishing Resolution and Expansion Resolutions, respectively. (b) As set forth in the Recitals above, the Act allows the City Council to include additional properties in the Tourism PID if the required elements are satisfied. As evidenced below, the hotel property set forth in Exhibit "A", which is attached hereto and incorporated herein for all purposes ("Additional Hotel Property"), meets the necessary elements for inclusion into the Tourism PID. (i) The Additional Hotel Property to be included in the Tourism PID as part of this Resolution is a hotel property. (ii) A sufficient number of 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 Tourism PID or by signing a petition or written consent to include property in the Tourism PID. Specifically, the number of consenting record owners exceeds the thresholds required by the Act, which is evidenced by the following: (1) 85.78% of appraised value of taxable real property liable for assessment, (2) 68.33% of record owners of taxable real property liable for assessment, and (3) 72.71% for the area of all taxable real property liable for assessment. 2.2 Advisability and Feasibility of the Improvements and Services Proposed for the Tourism PID. It is advisable to expand the Tourism PID to include the Additional Hotel Property to provide the proposed improvements and services described in the Petition and this Resolution. The improvements and services will promote the interests of the City and confer a special benefit on the assessed properties within the Tourism PID. The Fort Worth Convention and Visitor's Bureau staff performed an analysis of the Tourism PID, its service plan and strategies, and concluded that it provides a very effective means for significantly enhancing the ability of Fort Worth to promote its hotel,, convention, and tourism activity, which has been borne out since the Tourism PID's establishment. Based on this analysis and the successful history of the Tourism PID, the City finds the proposed tourism public improvement district to be both advisable and feasible. 2.3 Nature of the Improvements and Services. The general nature of the proposed improvements and services to be provided within the expanded boundaries of Tourism PID include, without limitation, marketing, business recruitment, and promotional activities authorized by the Act for improvements and promotion of the Tourism PID, including, but not limited to, the provision of incentives by the Fort Worth Convention and Visitors Bureau to organizations to encourage them to bring large and city-wide events (including, without limitation, meetings, sporting, recreation, and cultural events) to Fort Worth and to fund additional marketing by the Fort Worth Convention and Visitors Bureau to increase hotel stays within the City. 2.4 Estimated Cost of the Improvements and Services. Over the two (2) year period beginning on October 1, 2025, and ending on the expiration of the Tourism PID as provided in Section 3 of the Establishing Resolution, the estimated total cost of the improvements and services to be provided by the Tourism PID will be $15,750,000.00, which includes a revised estimated cost of $7,750,000.00 for the 2025-2026 fiscal year. For the 2025-2026 fiscal year, the revised estimated costs of the below -referenced improvements and services, and estimated costs to implement such improvements and services are: Incentives and Sales Efforts $4,540,050 Marketing and Research (Promotion/Advertising) $2,154,600 Site Visits & Familiarization Tours $ 115,425 Cultural Enhancements through Marketing and Promotion of the Arts $577,125 Operations and Administration $307,800 City Administrative Fee $55,000 Total $7,750,000 On September 17, 2024, the City Council adopted the fiscal 2024-2025 budget and three-year service plan, the same being Ordinance No. 27176-09-2024.On May 13, 2025, the City Council adopted a revised fiscal 2024-2025 budget and three-year service plan, the same being Ordinance No. 27648-05-2025.The inclusion of the Additional Hotel Property will not affect the adopted budget. Such costs will be paid from assessments levied in accordance with the Act. The full three-year service plan is attached to the resolution approving the amended budget and three-year service plan that is being considered at the same time as this resolution. 2.5. Method of Assessment. The costs of the improvements and services will be funded from assessments levied on and collected from properties located in the Tourism PID that contain hotels of one hundred (100) or more guest rooms and that are subject to payment of City hotel occupancy taxes pursuant to Chapter 32, Article II of the City Code, as amended. The City will levy a special assessment against the new hotel property located within the expanded boundaries of the Tourism PID ("Hotel Parcel") in an amount equal to two percent (2%) of the consideration received for occupancy of any sleeping rooms furnished by the new hotel on the Hotel Parcel (subject to any lawful exemption of the hotel occupancy tax under applicable state law and City ordinances), with such assessments to be collected in the same manner and in accordance with the same procedures as those established for collection of the City's hotel occupancy tax, as set forth in Chapter 32, Article II of the City Code, as amended. The collection of assessments will begin on the earliest date allowed by the Act and continue to be collected at the same time hotel occupancy taxes are collected. The City Council hereby finds that the proposed method of assessment is reasonable and necessary. 2.6 Apportionment of Costs Between the Tourism PID and the City, as a Whole. The apportionment of costs between the Tourism PID, inclusive of the Additional Hotel Property, and the City, as a whole, is as follows: (a) The entire cost of each improvement and service will be paid from assessments levied in accordance with the Act. (b) No City funds will be used to pay any portion of the cost of any improvement or service, unless such funding is approved from the City Council or other appropriate municipal authority on a case -by -case basis. 3. Inclusion of Additional Hotel Property within the Tourism PID; Term. Based on the findings set forth above, the City Council authorizes the expansion of the boundaries of the Tourism PID to include the Additional Hotel Property. The inclusion of the Additional Hotel Property within the Tourism PID takes effect on the date on which this Resolution is adopted by the City Council and will expire concurrently with the expiration date set forth in Section 3 of the Establishing Resolution. The expansion of the Tourism PID is subject to all conditions, limitations, and reservations set forth in the findings in Sections I and 2. All other provisions of this Resolution will be effective from and after adoption of this Resolution. 4. Advisory Bodv. The City Council hereby declines to appoint an advisory body for the expanded Tourism PID boundaries pursuant to Section 372.008 of the Act. The City Council hereby reserves the right to assign responsibility for preparation of the ongoing service plan for the PID to another entity in the absence of such an advisory body, as authorized by Section 372.013(a) of the Act. ADOPTED this 26th day of August 2025. ATTEST: Jannette S. Goodall City Secretary EXHIBIT A Expanded Boundaries of the Tourism PID (Additional Hotel Property) Account Name Address City, State, Zip Rooms The Nobleman 503 Bryan Ave Fort Worth, TX 76104 153 City of Fort Worth Public Improvement District No. 18 - Tourism Hotel Roll As of: 07/29/2025 Count: 60 Account rianne •a . AC HOTEL FORT WORTH DOWNTOWN 601 HOUSTON ST FORT WORTH TX 76102 252 AMERICAN AIRLINES TRAINING AND CONF CENTER 4500 AMERICAN BLVD FORT WORTH TX 76155 600 AUTOGRAPH COLLECTION DOWNTOWN 512 MAIN ST FORT WORTH TX 76102 164 AVID HOTEL 320 SAMUELS AVE FORT WORTH TX 76102 104 BOWIE HOUSE HOTEL 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 CT FORT WORTH TX 76155 174 COURTYARD MARRIOTT ALLIANCE 3001 AMADOR DR FORT WORTH TX 76177 127 COURTYARD MARRIOTT BLACKSTONE 609 MAIN ST FORT WORTH TX 76102 203 COURTYARD MARRIOTT FOSSIL CREEK 3751 NE LOOP 820 FORT WORTH TX 76137 154 COURTYARD MARRIOTT STOCKYARDS 2537 N MAIN ST FORT WORTH TX 76164 124 COURTYARD MARRIOTT UNIVERSITY 3150 RIVERFRONT DR FORT WORTH TX 76107 129 COURTYARD MARRIOTT WEST AT CITYVIEW 6400 OVERTON RIDGE BLVD FORT WORTH TX 76132 104 DALWORTH INN 812 E FELIX ST FORT WORTH TX 76115 110 DFW AIRPORT MARRIOTT SOUTH 4151 CENTREPORT DR FORT WORTH TX 76155 295 DFW MARRIOTT HOTEL AND GOLF CLUB AT CHAMPIONSHIP CIRCLE 3300 CHAMPIONSHIP PKWY FORT WORTH TX 76177 286 EMBASSY SUITES HOTEL DOWNTOWN FTWORTH 600 COMMERCE ST FORT WORTH TX 76102 156 EXTENDED STAY AMERICA CITY VIEW 5065 BRYANT IRVIN RD FORT WORTH TX 76132 104 FAIRFIELD INN AND SUITES DOWNTOWN 1010 HOUSTON ST FORT WORTH TX 76102 120 FAIRFIELD INN AND SUITES FOSSIL CREEK 3701 NE LOOP 820 FORT WORTH TX 76137 106 FOUR POINTS BY SHERATON FORTWORTH 6828 NORTH FWY FORT WORTH TX 76137 113 HAMPTON INN AND SUITES DFW SOUTH 4201 REGGIS CT FORT WORTH TX 76155 116 HAMPTON INN AND SUITES DOWNTOWN FT WORTH 1001 COMMERCE ST FORT WORTH TX 76102 245 HAMPTON INN AND SUITES WEST/130 2700 GREEN OAKS RD FORT WORTH TX 76116 105 HILTON FORT WORTH 815 MAIN ST FORT WORTH TX 76102 294 HILTON GARDEN INN MEDICAL CENTER 912 NORTHTON ST FORT WORTH TX 76104 157 HILTON GARDEN INN FORT WORTH ALLIANCE AIRPORT 2600 WESTPORT PKWY FORT WORTH TX 76177 127 HOLIDAY INN DFW AIPORT SOUTH 14320 CENTRE STATION DR FORT WORTH TX 76155 143 HOLIDAY INN EXPRESS DOWNTOWN 1111 W LANCASTER AVE FORT WORTH TX 76102 132 HOLIDAY INN NORTH FOSSIL CREEK 4635 GEMINI PL FORT WORTH TX 76106 126 HOME 2 SUITES BY HILTON CULTURAL DISTRICT 3000 W LANCASTER AVE FORT WORTH TX 76107 162 HOMEWOOD SUITES FOSSIL CREEK 3701 TANACROSS DR FORT WORTH TX 76137 137 HOMEWOOD SUITES MEDICAL CENTER 2200 CHARLIE LN FORT WORTH TX 76104 112 HOTEL DROVER AUOTOGRAPH COLLECTION 200 MULE ALLEY DR FORT WORTH TX 76164 200 HYATT PLACE ALLIANCE TOWN CENTER 3201 ALLIANCE TOWN CENTER FORT WORTH TX 76177 130 HYATT PLACE CITYVIEW 5900 CITYVIEW BLVD FORT WORTH TX 76132 128 HYATT PLACE STOCKYARDS 132 E EXCHANGE AVE FORT WORTH TX 76164 101 HYATT PLACE TCU 2500 W BERRY ST FORT WORTH TX 76109 150 KIMPTON HARPER HOTEL 714 MAIN ST FORT WORTH TX 76102 232 LA QUINTA INN AND SUITES FORT WORTH NORTH 2501 POLARIS DR FORT WORTH TX 76137 133 LA QUINTA INN AND SUITES SOUTHWEST 6100 OVERTON RIDGE BLVD FORT WORTH TX 76132 128 LE MERIDIEN 811 COMMERCE ST FORT WORTH TX 76102 188 OMNI FORT WORTH HOTEL 1300 HOUSTON ST # 100 FORT WORTH TX 76102 614 ONE CITY PLACE (Formerly Aloft) 300 THROCKMORTON ST FORT WORTH TX 76102 180 QUALITY INN AND SUITES CATTLE BARON 2700 CHERRY LN FORT WORTH TX 76116 110 RADDISSON HOTEL FORT WORTH FOSSIL CREEK 2540 MEACHAM BLVD FORT WORTH TX 76106 247 RADISSON FORT WORTH SOUTH HOTEL 100 E ALTAMESA BLVD FORT WORTH TX 76134 247 RESIDENCE INN CULTURAL DISTRICT 2500 MUSEUM WAY FORT WORTH TX 76107 150 RESIDENCE INN ALLIANCE AIRPORT 13400 NORTH FWY FORT WORTH TX 76177 111 RESIDENCE INN FOSSIL CREEK 5801 SANDSHELL DR FORT WORTH TX 76137 113 RESIDENCE INN WATERSIDE 5825 ARBORLAWN DR FORT WORTH TX 76109 120 SANDMAN SIGNATURE HOTEL 810 HOUSTON ST FORT WORTH TX 76102 245 SHERATON FORT WORTH HOTEL AND SPA 1601 COMMERCE ST FORT WORTH TX 76102 431 SPRINGHILL SUITES BY MARRIOTT STOCKYARDS 2315 N MAIN ST FORT WORTH TX 76164 170 SPRINGHILL SUITES BY MARRIOTT UNIVERSITY 3250 LOVELL AVE FORT WORTH TX 76107 145 THE NOBLEMEN HOTEL* 503 BRYAN AVE FORT WORTH TX 76104 153 TOWNEPLACE SUITES DOWNTOWN 801 E BELKNAP ST FORT WORTH TX 76102 140 TOWNEPLACE SUITES UNIVERSITY 3450 W VICKERY BLVD FORT WORTH TX 76107 128 WOODSPRING SUITES FORT WORTH 3501 NE LOOP 820 FORT WORTH TX 76137 121 WORTHINGTON RENAISSANCE HOTEL 200 MAIN ST FORT WORTH TX 76102 504 'Notates hotel addition City of Fort woth Five Year Service Plan Public Improvement District No. 18 - Toursim FY 25/26 FY 26/27 REVENUES PID Assessments $ 7,750,000 $ 81000,000 COFW Payment in lieu of Services COFW Assessment Total Budgeted Revenues $ 7,750,000 $ 8,000,000 Use of Fund Balance $ - $ - Total Revenues $ 7,750,000 $ 8,000,000 EXPENSES Incentives & Sales Efforts $ 4,540,050 $ 4,687,550 Marketing & Research (Promotion/Advertisting) 2,154,600 2,224,600 Site Visits & Familiarization Tours 115,425 119,175 Cultural Enhancements 577,125 595,875 Operations & Administration 307,800 317,800 City Administrative Fee 55,000 55,000 Total Budgeted Expenses $ 7,750,000 $ 8,000,000 Contribution to Fund Balance $ - $ - Total Expense $ 7,750,000 $ 8,000,000 Net Change in Fund Balance $ - $ - Estimated Fund Balance, Beginning of Year $ 7,158,329 $ 7,158,329 Estimated Fund Balance, End of Year $ 7,158,329 $ 7,158,329 Reserve Requirement 1,333,600 1,333,600 Over (Under) Reserve $ 5,824,729 $ 5,824,729 City of Fort Worth, Texas Mayor and Council Communication DATE: 08/26/25 M&C FILE NUMBER: M&C 25-0755 LOG NAME: 03PID18FY26 EXPAND SUBJECT (ALL) Conduct Public Benefit Hearing Concerning the Expansion of Fort Worth Public Improvement District No. 18 - Tourism to Include One Additional Hotel Property; Find for the Sufficiency of the Attached Petition Requesting Expansion of the Fort Worth Public Improvement District 18 — Tourism; and Adopt the Resolution Authorizing and Expanding the Fort Worth Public Improvement District No. 18 - Tourism to Include the Additional Hotel Property (PUBLIC HEARING - a. Staff Available for Questions: Holly Fortes; b. Public Comment; c. Council Action: Close Public Hearing and Act on the M&C) RECOMMENDATION: It is recommended that the City Council: 1. Conduct a public benefit hearing concerning the expansion of the Fort Worth Public Improvement District 18 — Tourism to include one additional hotel property; 2. Find that the attached petition requesting inclusion into the Fort Worth Public Improvement District 18 — Tourism meets the requirements set forth in Chapter 372 of the Texas Local Government Code; 3. 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 Fort Worth Public Improvement District 18 — Tourism, the estimated costs of such improvements and services, the method of assessment, the boundaries of the Fort Worth Public Improvement District 18 — Tourism, and the apportionment of costs between the Fort Worth Public Improvement District 18 — Tourism and the City, as a whole, and (ii) authorizing and expanding the Fort Worth Public Improvement District 18 —Tourism to include one (1) additional hotel; and 4. Direct the City Secretary to publish notice of the expansion of the Fort Worth Public Improvement District 18 — Tourism as required by Chapter 372 of the Texas Local Government Code. DISCUSSION: The purpose of this Mayor and Council Communication (M&C) is to expand the boundaries of Fort Worth Public Improvement District 18 - Tourism (Tourism PID) through the inclusion of one (1) additional hotel property. 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), 5467-09-2021 (September 14, 2021), 5561-04-2022 (April 12,2022), 5958-05-2024 (May 14,2024), and 6098-05-2025 (May 15, 2025) expanding the boundaries of the Tourism PID to include additional hotel properties (Expansion Resolutions). Expansion of the Tourism 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 (i) 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 Nobleman Hotel, located at 503 Bryan Ave., Fort Worth, Texas 76104, meets the above -stated elements and, therefore, may be considered by the City Council for inclusion into the Tourism PID. First, the Nobleman Hotel is a hotel property. With regard to the second element, the property owner, or its duly authorized representatives, for the Nobleman Hotel, signed a petition requesting inclusion within the Tourism PID. This results in an increase to 85.78% of the appraised value of taxable real property liable for assessment, 72.71 % of the area of all taxable real property liable for assessment, and 68.33% of record owners liable for assessment. These figures remain above the statutory threshold of 60.00%, thereby meeting the required conditions for the adjustment of the Tourism PID's composition. 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 application, 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 II 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 for the proposed services and improvements for the life of the Tourism PID (approximately two years) will be $15,750,000.00, which includes an estimated cost of $7,750,000.00 for the Fiscal Year 2025-2026 Budget. Assessments will begin on October 1, 2025. 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. Upon the close of the public hearing, staff recommends that the City Council declare the petition to expand the Tourism PID to include the one additional hotel property to be sufficient and adopt the attached Resolution making findings concerning the following and expanding the Tourism PID: • The apportionment of costs between the Tourism PID and the City, as whole; • The proposed method of assessment; • The expanded boundaries of the Tourism PID; • The estimated costs of the proposed improvements and services; • The general nature of the proposed improvements and services; and • The advisability of expanding the Tourism PID. Upon adoption of the Resolution, the Nobleman will be included within the boundaries of the Tourism PID, effective on the date that City Council's authorization to expand the Tourism PID has been published in a newspaper of general circulation and will expire on the date set forth in the Original Resolution. The City Council will hold two public hearings to consider the proposed budget, plan of service, and levy of assessments against property within the Tourism PID, which will be held during the regular City Council meetings on Tuesday, August 26, 2025 at 10:00 A.M., and Tuesday, September 16, 2025 at 6:00 P.M. The City Council is expected to take final action and vote on the proposed budget, plan of service, and levy of assessments following the close of the hearing on September 16, 2025. Notice of this public hearing was published in the Fort Worth Star -Telegram and mailed to the appropriate property owners on August 8, 2025, which complies with the notice requirements under the Act. These 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 / CERTIFICATION: The Director of Finance certifies that approval of these recommendations will have no material effect on City funds. Submitted for Citv Manager's Office bv: Oriainatina Business Unit Head: Christianne Simmons 6222 Additional Information Contact: Brady Kirk 8712 Expedited