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HomeMy WebLinkAboutOrdinance 27987-09-2025ORDINANCE NO. 27987-09-2025 AN ORDINANCE APPROVING AND ADOPTING THE FISCAL YEAR 2025-2026 BUDGET, FIVE-YEAR SERVICE PLAN, ASSESSMENT PLAN, AND TAX YEAR 2025 ASSESSMENT ROLL (TO BE KEPT ON FILE WITH THE CITY SECRETARY) FOR PUBLIC IMPROVEMENT DISTRICT NO. 11 — STOCKYARDS; LEVYING ASSESSMENTS FOR THE COST OF CERTAIN IMPROVEMENTS AND SERVICES PROVIDED IN FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 11 — STOCKYARDS DURING FISCAL YEAR 2025-2026; SETTING CHARGES AND LIENS AGAINST PROPERTY IN THE DISTRICT AND AGAINST THE OWNERS THEREOF; PROVIDING FOR THE COLLECTION OF SUCH ASSESSMENTS; RESERVING UNTO THE CITY COUNCIL THE RIGHT TO ALLOW CREDITS REDUCING THE AMOUNT OF THE RESPECTIVE ASSESSMENT TO THE EXTENT OF ANY CREDIT GRANTED; 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 February 2, 2003, the City Council of the City of Fort Worth ("City Council") authorized the establishment of Public Improvement District No. 11 — Stockyards ("District"), as a public improvement district in accordance with the Act and Resolution No. 2925, a map of which is attached hereto as E�iibit A and incorporated herein for all purposes; WHEREAS, Section 372.013 of the Act requires the City Council to annually review and adopt an ordinance approving the Service Plan ("Service Plan") for the District; WAEREAS, Sections 372.013 and 372.014 of the Act require the annual Service Plan to (i) cover a period of at least five years; (ii) define the annual indebtedness and the projected costs for improvements; (iii) include an Assessment Plan ("Assessment Plan"); and (iv) include a copy of the notice form required by Section 5.014 of the Texas Property Code (the Service Plan and Assessment Plan are collectively referred to herein as the "Service and Assessment Plan"); WAEREAS, City Council must review the proposed fiscal year 2025-2026 Service Plan and hold a public hearing to receive comments and pass on any objections to the 2025 Assessment Plan raised by any owner of property located within the District and, at the conclusion of the hearing, levy an assessment for the purpose of providing supplemental services and improvements for the District; WHEREAS, the Service and Assessment Plan is attached hereto as Exhibit B and incorporated herein for all purposes; WHEREAS, City Council desires to approve and adopt the 2025 Assessment Roll that was filed with the City Secretary and subject to public inspection in the City's official records prior to the public hearing ("Assessment Roll"); WAEREAS, the Service and Assessment Plan and Assessment Roll were previously presented in a public hearing conducted by the City Council on August 26, 2025 (M&C 25-0750); and WAEREAS, the Service and Assessment Plan and Assessment Roll were once again presented to the City Council in a public hearing conducted on the 16�' day of September, 2025, beginning at 6:00 p.m. in the Council Chamber in the City Hall in the City of Fort Worth, Texas ("Public Hearing"), notice of which was published and mailed to all record owners of property in the District, and at such hearing all desiring to be heard were given a full and fair opportunity to be heard; Ordinance No.27987-09-2025 Page 1 of 9 NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS THAT: SECTION 1. The Public Hearing is hereby closed and any and all protests and objections, whether herein enumerated or not, are hereby overruled. 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 Service and Assessment Plan and Assessment Roll (to be kept on file with the City Secretary). In doing sq 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. The City Council, from all evidence before it, including all information provided to it and considered in the Public Hearing, finds that the assessments herein described should be made and levied against the respective parcels of privately-owned property in the District and against the owners of such property. Such assessments and charges are right, proper, and substantially in proportion to the benefits of the respective parcels of property by means of the improvements and services in the District for which such assessments are levied and establish substantial justice, equality, and uniformity between all parties concerned, considering the benefits received and burdens imposed. The City Council further finds that in each case the property assessed is specially benefited in enhanced value to the said property by means of the improvements in the District and for which assessment is levied and charge made, and further finds that the apportionment of the cost of the improvements is in accordance with applicable law. The City Council, from the evidence, further finds that the values of the respective parcels of property on January 1, 2025, are true and correct reflections of the information contained in the records of the relevant appraisal district. SECTION 4. There is hereby levied and assessed against the parcels of privately-owned property in the District, and against the real and true owners thereof (whether such owners be correctly named herein or not), the sums of money itemized per parcel of property, and the owners thereof, as far as such owners are known, at the following rate and method of payment: $0.12 per each $100 of property value in the District. This Ordinance will not be construed so as to levy any assessment against City-owned property in the District. SECTION 5. Where more than one person or entity owns an interest in any property described herein, each such person or entity will be personally liable only for its, his, or her pro rata share of the total assessment against such property in proportion to its, his, or her respective interest to the total ownership of such property, and its, his, or her respective interest in such property may be released from the assessment lien upon payment of a proportionate sum. SECTION 6. The several sums above mentioned and assessed against the said parcels of property, and owners thereof, and penalty and interest thereon at the rate prescribed by Chapter 372, Texas Local Government Code Ordinance No. 27987-09-2025 Page 2 of 9 ("Public Improvement District Assessment Act"), together with reasonable attorney's fees and cost of collection, if incurred, are hereby declared to be and are made a lien upon the respective parcels of privately-owned property against which the same are assessed, and a personal liability and charge against the real and true owners of such property, whether such owners be correctly named herein or not, and such liens shall be and constitute the first enforceable lien and claim against the property on which such assessments are levied, and will be a first and paramount lien thereon, superior to all other liens and claims, except state, county, school district, and city ad valorem taxes. A copy of this ordinance will be filed with the County Clerk of Tarrant County, Texas, and when so filed constitutes complete and adequate legal notice to the public concerning the liens hereby assessed against the respective parcels of property and the owners thereof. The sums so assessed against the respective parcels of property and the owners thereof become due and payable on or before January 31, 2026, and become delinquent if not paid by February 1, 2026. The entire amount assessed against each parcel of property bears penalty and interest, from and after February 1, 2026, at the same rate as prescribed by law for any delinquent ad valorem taX until paid. SECTION 7. If default is made in the payment of any assessments, collection thereof will be enforced by suit in any court of competent jurisdiction, and said City may exercise all of its lawful powers to aid in the enforcement and collection of said assessments. SECTION 8. The total amount assessed against the respective parcels of property, and the owners thereof, is in accordance with the proceedings of the City hereto and is less than the proportion of the cost allowed and permitted by applicable law. SECTION 9. Although the aforementioned charges have been fixed, levied, and assessed in the respective amounts herein stated, the City Council hereby reserves the right to reduce the aforementioned assessments by allowing credits to certain property owners where deemed appropriate and provided that any such allowance does not result in any inequity or unjust discrimination. SECTION 10. Full power to make and levy reassessments and to correct mistakes, errors, invalidities, or irregularities in the assessments are, in accordance with the law in force in this City, vested in the City. SECTION 11. In any suit upon any assessment or reassessment, it will be sufficient to allege the substance of the provision recited in this ordinance and that such recitals are in fact true, and further allegations with reference to the proceedings relating to such assessment and reassessment shall not be necessary. SECTION 12. 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. Ordinance No. 27987-09-2025 Page 3 of 9 SECTION 13. 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 14. 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 (7th) day after the adopted date of this Ordinance. SECTION 15. 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: Trey Qualls, Assistant City Attorney M&C: 25-0816 Adopted and Effective: September 16, 2025 ATTEST: Jannette S. Goodall, City Secretary Ordinance No. 27987-09-2025 Page 4 of9 EXHIBIT A MAP OF THE DISTRICT FORTWORTH::, Stockyards Public Improvement District ,w,�, ie ...i .r.i .�. � ��� . ;. �n ..�, � �-:� : �'° > �• �t �,�,��, p " � t Ac �tfi�". - - ��-��� ` r�7m� � •ti a �� �,.E � r- � �.+� ��3 �"x ,�,� �� ~�'�- �� - - �."3!'��. �.F—� 1��, �+``k r , .. f i .: i '- �t� �` . _�b' '�"i.. �r'. - m' - � soTFi �;�= � r`� �' " _ ^ � � � �- Z J � "- •n .C� ' ��'" � "" .t:: m __ _ �»� �. t ,,, 'w � , � o o .., ' ,} _�. � -� �. s -�i - J°'" _ �;. r � �- `.,` � ~ = w - � M"Q� v .�> _�_ - � % �- ; { i � �� = Z ➢ �,. �' � m- � t � ^Y . '._ � :o � .; � � .> � _ � '�ti ` t '. .,�'� � r'_'"'A' �U "i � } � � C 4' S '.�< �-- 29TH y � cn ", i� '•,� f .�„1 "' � ��,.r � � � �-_ v - � _ � � ., N n ;— -��- � J�- �n o� Z' •' - `� °�. � � �� ,r�'��(' r s-� LORAINE = cNP . 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Ordinance No. 27987-09-2025 Page 5 of 9 SERVICE PLAN REYENUES PI� �,]SC 55'Tl@ 1115 CC1FW r15SCssrttCnt Total �udgataA Ravenuas lJse at Fund 9alance tASBI RHf�1111BS Ex�€HS�S htanagemem Kre 5e�cureCy Enh2oCefFt9ntS hfaintenance & Operatrons PuDIiC Events LIIJU CIBS Mar kgtina S �lrsearcn CIEy �Urdlk F2e C�[y t5dminlstratiVc FCc Tatal �utlgataA �xpensas COFltlil}LL[IOsS f6 Fufltl �8S�i5CC zotalExpen�e Tlat�hange in FunG Sa�ance EStlrnaie� FunU �a42rCe.6egk�ln�ngo� Yaaf Estlrnaie� Fun� �342oCe, �nb 4T YeBf F�cse r,rn Rcawrerr�ent Over{Untlerj ReE�rve ' F7f2426 AssessEnent �iata =.t.2 Ciiy af Fart Wnth �i+re Year Sarw9ae Pkan Public Improverner�t Disiri�t �a. 4� - Btoekyards F'f 25.+2� �Y 26f27 FY 27l28 �Y 28l2� FY Z9�34 k �vi.v9� 5 5G7.9d0 S 58d.579 5 G42.5�7 $ G�O.'���3 1�3_SOB 11,359 11_7C0 I2,d51 12,ai2 $ 56G.2L4 S 5TJ.Z99 S �9$.678 S G14�575 j G33��15 S - S - 5 - 5 - $ - S 58�_29+a S 579.299 S �96.6I8 $ 51��575 � &33,015 $ f10,28a $ 213,598 $ 1f6,9E}6 3 126,565 $ 12d,121 18d,096 E�,60d 185,OQU 185,060 185,fl06 lAS.5fla f50.6U6 15D.04fl 1.84.fl4fl 1�O.flC�4 16.O�da ifl,6U6 fD,040 f4,fl4fl lO.flC�4 8.5fl� &,5fl0 8,54� 8�560 8,5d0 31.40a 35,D�0 44,0� d4,fl60 A0.004 3,40C 3,600 3,d4fl 3,{]aU 3,fld6 11,32d 11,585 i1,93� f2,29F 12,$6a � 5U2.6fl+4 � 511.&74 S 525�430 5 539�297 S 5�3,281 S 63.604 S 67.G25 5 71.249 $ 75,281 S SB.734 � sas.zfls s s�,2ss 3 sss.s�a 3 sia,s�a y saa,ais s s�.s�a s s�.�� s ��xaa S �s,za� S ss,��a S 252.d51 $ 31�,65L � 383,67G S 4�4,325 � 530.209 316,451 353,675 �54,925 53a,�45 G19,944 &5.296 S7,5E9 89,941 9C.565 90.565 � a.�0.�ss S�sa.aa� s�ss,aza S a�s,aai S sas,��s Ordinance No. 27987-09-2025 Page 6 of 9 Fiscal Year 2025-2026 Budget The total budgeted costs of the improvements and services for the District for fiscal year 2025-2026 are $566,204.00. Of this amount, $551,398.00 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: • $14,806.00 in direct payment from the City for Payment In-Lieu of Assessments, which are calculated at the same rate as privately-owned parcels. Ordinance No. 27987-09-2025 Page 7 of 9 ASSESSMENT PLAN The cost of each improvement and service provided during a fscal year will be assessed against real property within the District benefitting from such improvement or service based on the value of such property, including the value of structures and other improvements on the property as determined by the applicable appraisal district. The City will levy and assess against the parcels of privately-owned property in the District, and against the real and true owners thereof, the sums of money itemized per parcel of property, and the owners thereof, as far as such owners are known, at the following rate and method of payment: $0.12 per each $100 of property value for property in the District. The current names and addresses of the properties that are subject to assessment, along with the ordinance levying such assessments, are on file with the City Secretary of the City of Fort Worth. NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT Ordinance No. 27987-09-2025 Page 8 of 9 TO THE CITY OF FORT WORTH, TEXAS CONCERNING THE FOLLOWING PROPERTY (insert property address) As the purchaser of the real property described above, you are obligated to pay assessments to the City of Fort Worth, Texas, for the costs of a portion of a public improvement or services project (the "Authorized Improvements") undertaken for the benefit of the property within Fort Worth Public Improvement District No. 11— Stockyards (the "District") created under Subchapter A, Chapter 372, Local Government Code. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID 1N FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID 1N FULL, IT WILL BE DUE AND PAYABLE 1N ANNLJAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF 1NTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS, AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from the City Secretary of the City of Fort Worth, Texas. The exact amount of each annual installment will be approved each year by the City Council of the City of Fort Worth, Texas, in the annual service plan update for the District. More information about the assessments, including the amounts and due dates, may be obtained from the City Secretary of the City of Fort Worth, Texas. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. 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THIS PRODUCT IS FOR INFORMATIONAL PURPOSES AND MAY NOT HAVE BEEN PREPARED FOR OR BE SUITABLE FOR LEGAL, ENGINEERING, OR SURVEYING PURPOSES.IT DOES NOT REPRESENTAN ON-THE-GROUND SURVEYAND PRESENTS ONLY THE APPROXIMATE RELATIVE LOCATION OF PROPERTY BOUNDARIES. THE CITY OF FORT WORTH ASSUMES NO RESPONSIBILITY FOR THE ACCURACY OF SAID DATA. 0 M � N } LL N � j� N Y p�p O N Y LL � C � R � �a o ° � .� Z V ++ N �' i V 1� O Of �`+ CV 6L fn V! > Q LL C �0 « �� y U � � LL > n O c.� G. co � } � LL � � a f0 N �lY N � LL M N cD V O N � � Ui N � lf) O N N � � U3 m o r� o � n W e�-i ll) vs � M C^D e�-i � tsi W � M o0 �--I V � � tsi N y � E a� � � � N � N N d N N � N Q LL W o O Z a U > � N N O ' O M M � � V3 tf3 NT n n N ' N � � � � fR tf3 LR n n <D ' <D � � N N � u} t� N ' N n n N N � u} � 0 0 N ' N <D <D N N � u} t� N � 3 m c � � y m � � a � N � LL 3 O a a� > � m � o�C R R � � �--� O O O O O O O N O O O O O O(O �--� O O O l.f) O O (O V � O O o0 O M N N OD (D .--I V .--I .--i e-i .--i Ui Lf) O O O O O O N 0 0 0 0 0 0 o rn Lf) O O O l.f) O O N O� O O o0 O M N N OD (D .--I V .--� ti ti ti U3 co 0 0 0 0 0 o v � O O O O O O M � O O O� O O� •-�-� W � � � V M �--� �--I �--I �--I vs a0 O O O O O O(O 00 O O O O O O 00 �n o 0 0�n o o�n M O O O 00 lt� M �--� .--i o0 � i--i M �--� �--I �--I �--I vs 0 0 0 0 0 0 o v 00 O O O O O O N N O� O� O O M 0 0 00 0 00 .--� M �--� .--i o0 V �--� M �--� .--i .-i .--i vs a0 M N M O V CO n N I� O 1� N� u� M M � M Q) O� O O> ��f9 � fM0 � � CO � N fH Ui H) fH Ui NT � a0 n a0 N O CO � N N �f9 N � N u� (G oi �n v ui v o o m �lY ^ f0 ^ V � � � V} U3 iA EH U3 Vi r�i a n a �n° N o N � N f0 N CO �� O N I� Q�1 1� W� W(�G lf1 111 M V M v� va v� v� va � f^D CNO N fND O(^O � O a�-� C^D n c^O .-�-� W o^0 � 1f1 i11 M C`� N v} va v} v} va � O O O O ��i � N fD CO N fD V O N 1� N M f0 M N(O �fi O 1�f1 � 11�1 � N Ch � N v� va v� v� va � C N O d C ip L N d L LL N � �' m > 1�i1 a� a> p a� _ �i c � ai m a� ca � Y � a� n C � C C 0.i LL � W �� W � bQ +-+ T C W y ='6 � 07 'op L N U � � 7 "O � W � U � 9 — Y T T 'a Z E in E a�� U U m W � a W H a� U C � � m L LL 0 0 Q � U d C a� Q x R H � a� > o� nn � � � � w c o uo a a� c 00 W N d N ~ N U U II (.1 C C � = Ip tp C � �p (6 N �0 R m m � ` � m -o -o = 'a � c '� d a> j LL LL � � E LL � a � � N C � � y �� c6 c6 > � N oa E E a� a a � N C t W W OC � U N d } d > Z O LL City of Fort Woth Budget Narrative Public Improvement District No.11- Stockyards Management Fee This budget category is for salaries, payroll tax, office supplies, postage, office rent, computer support and office equipment, professional service fees, and insurance. Security Enhancements This budget category is for the hiring of off-duty Fort Worth Police Officers for additional police patrols throughout the PID11 Stockyards area with a heavy focus on both East and West Exchange Avenue. The hours requested are between 11:OOam and Midnight. The purpose of the additional police officers is for crime prevention, safety, and ambassadorship. I believe the visibility of our Fort Worth poLice in the Stockyards is a weLcome sight by our ever- increasing number of visitors and presents the Stockyards as a safe area for their families. The actual security amount paid for FY23 was $155,185. The actual amount paid for FY25 through May 31st is $102,930. PID11 switched to Safehaven starting on May 1st. I am estimatingthat PID11 securitywill be about $14,000 a month. Thus, I am estimating the Security for June 1st through September 31st will be $56,000. My estimated total Security expense for FY25 is $158,930. The FY25 Security budget was $200,000. Both FY24 and FY25 actual amounts will be below $160,000. Thus, I am adjusting the FY26 Security Maintenance & Operations This budget category is for: -mhe leasing of (37) Big Belly Trash Receptacles from Big Belly Solar, LLC and the Lease & Replacement of the receptacle Liner Waste Bags. -f�„ monthly contract with Blacksmith Services for a 7-day trash porter service of all trash receptacles in the PID11 Stockyards area. Also, to pay for salt to be spread on the sidewalks as needed during icing conditions for safety. -mree trimming and fertilizing services of trees on East Exchange Ave to prevent disease and maintain the trees shape. -�epair the sidewalk expansion seams W Exchange Ave to enhance safety -11�9aintenance for the Historic Street Signs on both East and West Exchange Ave. A new street sign on W Exchange Ave, simiLar in design to the sign on E Exchange, is being constructed in FY25. Maintenance will be predominantly for lighting and minor repairs as needed. Public Events This budget category is for holiday decorations (Christmas garland for the street light poles) between Thanksgiving and New Years on N Main St, East and West Exchange Ave. Capital Improvements This budget category was used for FY25 for funding improvements to the sidewalks on W Exchange. This was moved to the Maintenance & Operations budget category during the FY25 Mid-Year review. The $1,000 that was left in the category was for a N monitor to display historical images but is no longer needed. Thus, this budget category has been deleted for FY26. City of Fort Woth Budget Narrative Utilities This budget category is for gator bags and a water truck to water newLy planted 3-inch caLiber tree saplings along N Main Street that I was awarded through the city's Parks and Recreation's Forestry Department. It is my hope to be awarded additional trees to repLace dead or diseased trees. The watering is required for a minimum of two years to establish the tree roots to be self-sufficient and able to survive without irrigation. Marketing & Research This budget category is for PID11 to establish its own website. We currently utilize the fortworthstockyards.org website for the posting of PID11 information and the promotion of the Stockyards. I have found a less expensive way to establish a website that Fort Worth Stockyards, Inc. is able to manage and update with an enhanced ability to promote PID11 initiatives. CityAudit Fee This budget category is for the city's annual audit of PID11. CityAdministrative Fee This budget category is city staff's support of PID11. City of Fort Worth, Mayor and DATE: 09/16/25 Texas Council Communication M&C FILE NUMBER: M&C 25-0816 LOG NAME: 03PID11 FY26 SUBJECT (CD 2) Conduct Public Benefit Hearing for Fort Worth Public Improvement District 11 - Stockyards; Adopt the Ordinance (1) Approving and Adopting the Fiscal Year 2025-2026 Budget, Five-Year Service Plan, Assessment Plan, and Tax Year 2025 Assessment Roll, and (2) Levying Special Assessments for the 2025 Tax Year at a Rate of $0.12 Per Each $100.00 of Property Value; Authorize Execution of an Agreement with Fort Worth Stockyards, Inc., in the Amount of $110,280.00 to Manage the Public Improvement District, and Adopt Appropriation Ordinance (PUBLIC HEARING - a. Staff Available for Questions: April Ramirez; 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 proposed special assessments on the property located in Fort Worth Public Improvement District 11 - Stockyards for the 2025 tax year; 2. Adopt the attached ordinance (1) approving and adopting the Fiscal Year 2025-2026 budget in the amount of $566,204.00, five-year service plan, assessment plan, and tax year 2025 assessment roll (on file with the City Secretary) for the Stockyards Public Improvement District; and (2) levying special assessments on privately-owned property located in Stockyards Public Improvement District for the 2025 tax year at a rate of $0.12 per each $100.00 of property value (Service Assessment Plan and Assessment Ordinance); 3. Direct the City Secretary to record a copy of the Service Assessment Plan and Assessment Ordinance in the real property records of Tarrant County, Texas no later than the seventh (7th) day after adoption by the City Council; 4. Authorize the execution of an agreement with Fort Worth Stockyards, Inc., in the amount of $110,280.00 to provide management of the improvements and services for the Stockyards Public Improvement District during Fiscal Year 2025-2026; and 5. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District 11 - Stockyards Fund in the amount of $566,204.00, of which $566,204.00 is from available funds. DISCUSSION: On February 25, 2003, the City Council adopted Resolution No. 2925 establishing Fort Worth Public Improvement District 11 - Stockyards (Stockyards PID). The purpose of this benefit hearing is to receive comments from the public regarding the Fiscal Year 2025-2026 budget and five-year service plan for the Stockyards PID and the proposed assessments to be levied on each property in the Stockyards PID for the 2025 tax year. Following the public hearing, it is recommended that the City Council take the following actions: adopt the attached ordinances (1) approving and adopting the budget, five-year service plan, assessment plan, and assessment roll; (2) levying the proposed assessments; and (3) appropriating funds. The improvements and services to be provided in the Stockyards PID and the costs thereof are as follows: The total budgeted costs of the improvements and services are in the amount of $566,204.00 of this amount, $551,398.00 will be funded by assessments collected on privately-owned parcels located in the Stockyards PID by applying a rate of $0.12 per each $100.00 of property value. The remainder $14,806.00 of costs will be funded from the City for Payment In-Lieu of Assessments. Fiscal Year 2026 Budget On, August 26, 2025 the City Council conducted a public hearing to receive comments on the proposed Fiscal Year 2025-2026 budget, five-year service plan, and 2025 assessment for the Stockyards PID. Notice of the August 26, 2025 benefit hearing and this hearing were published in the Fort Worth Star- Telegram and mailed to all owners of property on record and liable for assessment within the Stockyards PID on August 15, 2025, in accordance with state law. Funding will be budgeted within the FWPID #11 - Stockyards Fund for Fiscal Year 2026. The Stockyards PID is located in COUNCIL DISTRICT 2. FISCAL INFORMATION / CERTIFICATION: The Director of Finance certifies that upon approval of the above recommendations and the adoption of the Fiscal Year 2026 Budget by the City Council, funds will be available in the Fiscal Year 2026 operating budget, as appropriated, in the FWPID #11 - Stockyards Fund. Prior to any expenditure being incurred, the FWLab Department has the responsibility to validate the availability of funds. Submitted for City Manager's Office b� Originating Business Unit Head: Christianne Simmons 6222 Additional Information Contact: Brady Kirk 8712