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~'ity of Fc~~t TrT~ortll, .Texas
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DATE REFERENCE Nl.}MBER LC~G NAME PAGE
9!9103 BH-20$ 13PID1 BENEHEAR 1 of 2
su~.~ECT BENEFIT HEARING FOR FORT WORTH PUB!-IC IMPROVEMENT DISTRICT NO. 1
{DOWNTOWN}, ADOPTION OF APPROPRIATION ORDINANCE AND LEVYING OF
ASSESSMENTS FOR FISCAL YEAR 2003-2004
RECOMMENDATION:
It is recommended that the City Council:
1. Hold a benefit hearing concerning the proposed property assessments for Fiscal Year 2003-2004
on September 9, 2003; and
2. Close the benefit hearing; and
3. Adopt the attached ordinance which levies the proposed assessments; and
4. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations by
$735,000 in the Special Assessment District Fund from available funds.
DISCUSSION:
On August 26, 2003 {M&C G-14073}, the City Council directed that certain improvements andlor
services {the "Improvements"} should be provided in Fart Worth Public Improvement District No. 1
during the Fiscal Year 2003-2004. It also adopted the proposed assessment roll and provided notice of
this benefit hearing.
The improvements to be provided and the costs thereof are:
To be assessed
Total Costs FY 2003-2004
1 } A maintenance and landscaping program $ 606,645 $370,795
2} A promotions program $ 20,000 $ 8,450
3} A marketing program ~ 78,520 ~ 33 165
~} A security program ~ 26.265 5 10.670
5) A transportation and parkin~a program ~ g8 66Q 5 41 556
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Totals $1,100.300 $735,000'
'~ The 5365.300 difference between total costs and assessments includes 5252.600 in direct payments
from the City, which was appropriated from General Fund balance by City Council action on August 26.
2003 (M&C G-140731. 587,200 in ~evenu~~s from district activities and 525.500 fron,~ other
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~'ity= cad' Fort ~~d~t1r, .Texas
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C7ATE REFERENCE NUMBER LUG NAME PAGE
919/03 BN-208 ~ 3PID1 BENEHEAR 2 of 2
SuB~EC~ BENEFIT NEARING F{~R FC}RT WORTH PUBIrIC IMPRC)VEMENT DISTRICT NQ. 1
{DOWNTOWN), ADC}PTIC?N OF APPRC}PRIATIC7N C}RDINANCE AND LEVYING OF
ASSESSMENTS FOR FISCAC_ YEAR 2003-2004
All costs of improvements shall be assessed against private property located in the district and the
owners of the property. The City Manager has filed with the City Secretary a proposed assessment roll
and an estimate of the assessments against each parcel.
Based on the appraised value of the property, and considering the benefrts to be received from the
proposed improvements, it is the opinion of the City staff that an amount equal to or more than the
proposed assessments upon completion of the improvements in accordance with the contract will
enhance each parcel of property in value.
FISCAL INFORMATIONICERTIFICATION:
The Finance Director certifies that upon adoption of the attached ordinances, funds required for this
expenditure will be available in the Fiscal Year 2003-2004 operating budget, as appropriated, of the
Special Assessment District Fund.
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