HomeMy WebLinkAboutOrdinance 15670~° a . , _
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~'ity of Fait T~a~tTi, Texas
~~~~a~ c~nd ~; c~unci~( ~~c~r~~municc~~r~iart
DATE REFERENCE NtJM~ER LC~G NAME PAGE
919103 gH_2Q~ 13PID10BENENEAR 1 of 2
~u~~ECT BENEFIT HEARING FQR FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 10
{EXPANDED 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 an September 9, 2003, concerning the proposed property assessments far
Fiscal Year 2003-2004; and
2. Close the benefit hearing; and
3. Adapt the attached ordinance which levies the prapased assessments; and
4. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations by
$36,300 in the Special Assessment District Fund from available funds.
DISCUSSION:
On August 26, 2003 {M&C G-14074), the City Council directed that certain improvements andlar
services {"the Improvements"} should be provided in Fart Worth Public Improvement District {PID) No.
10 during the Fiscal Year 2003-2004. The City Council also adopted the proposed assessment roll and
authorized notice of this benefit hearing.
The improvements to be provided and the costs thereof are:
To Be Assessed
Total Cost FY 2003-2004
{1) A maintenance and landscaping program $94,832 $34,300
{2) City administration fee ~ 2,000 2.000
Totals $ 96, 832 $36, 300'
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expenses generated by Downtown Fort ~Norfh lnc.
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~'ity of ~.F'o~t Wa~t1'i, Texas
~~~~y~~ ~-nd ~; c~ur~c~i [ ~~,c~nr~n~ru~t~icc~~ic~r~
DATE REFERENCE NUMBER LC7G NAME PAGE
919/03 BH-209 13PID106ENEHEAR 2 of 2
~u~.lECT BENEFIT HEARING FOR FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 10
{EXPANDED DOWNTOWN}, ADOPTION OF APPROPRIATION ORDINANCE AND
LEVYING OF ASSESSMENTS FOR FISCAL YEAR 2003-2004
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 mare than the
proposed assessments upon completion of the improvements in accordance with the contract will
enhance each parcel of property in value.
FISCAL INFORMATIONlCERTIFICATION:
The Finance Director certifies that upon adoption of the attached ordinances, funds will be available in
the Fiscal Year 2003-2004 operating budget, as appropriated, of the Special Assessment District Fund.
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