HomeMy WebLinkAboutOrdinance 15668
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DATE REFERS-NCE NUMBER Lt~G NAME PAGE
9/9/03 BH-208 13PiD1 BENEHEAR 1 of 2
su~.~EC-r- BENEFIT HEARING FOR FORT 1NORTH PUBI~IC IMPROVEMENT DISTRICT NO. 1
{DOWNTOWN}, ADOPTION flF APPROPRIATION ORDINANCE AND LEVYING flF
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
an September 9, 2003; and
2. Close the benefit hearing; and
3. Adopt the attached ordinance which levies the proposed assessments; and
4. Adapt the attached appropriation ordinance increasing estimated receipts and appropriations by
$735,000 in the Special Assessment District Fund from available funds.
DlscusslflN:
On August 26, 2003 {M&G G-14073}, the City Gauncil directed that certain improvements and/ar
services {the "Improvements"} should be provided in Fart Worth Public Improvement District No. 1
during the Fiscal Year 2003-2004. It also adapted the proposed assessment roll and provided notice of
this benefit hearing.
The improvements to be provided and the casts thereof are:
Ta 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
4} A security program ~ 26.265 S 10.67Q
5) ~ trans~nrtation and parking program `~ 98 600 5 41 .650
Totals $1,100.300 X735,000'
The 5365 300 difference betv,~een fofa( costs anti assessr~~ents includes 5252,600 ~n direct payments
from the City. which was appropriated from General Fund E~alance by City Council action on August 26.
2003 (M&C G-14~?7?l 587200 in revenues from district ac±ivities and S25 500 from ot'~~r
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DATE REFERENCE NUMDER LC?G NAME PAGE
9/0103 E3H-208 13PID1 BENEHEAR 2 of 2
~ue.~ECT BENEFIT HEARING FOR FART WORTH PUBLIC IMPROVEMENT DISTRICT NO. 1
{DOWNTOWN}, ADOPTION OF APPROPRIATION ORDINANCE AND LEVYING OF
ASSESSMENTS FOR FISCAL 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 benefits 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 iPIFC}RMATIONlCERTIFICATION:
The Finance Director certifies that upon adoption of the attached ordinances, funds required far 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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