HomeMy WebLinkAboutOrdinance 15672
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City of .Fort T~Q~tlt, Texas
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DATE REFERENCE NUMBER LCJG NAME PAGE
9!9!43 gN-210 13PID66ENENEAR 1 of t
SuB~ECT BENEFIT NEARING FUR FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 6
{PARK GLEN AREA}, ADOPTION OF APPROPRIATION ORDINANCE AND LEVYING
OF ASSESSMENTS FOR FISCAL YEAR 2443-2444
RECOMMENDATION:
It is recommended that the City Council:
1. Hold a benefit hearing an September 9, 2443, concerning the proposed property assessments far
Fiscal Year 2443-2044; 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
$1,185,447 in the Special Assessment District Fund from available funds.
DISCUSSION:
On August 26, 2443 (M&C G-14475}, the City Council directed that certain improvements andlar
services (the "Improvements"} should be provided in Fort Worth Public Improvement District (PID} Na. 6
during the Fiscal Year 2443-2444. It also adapted the proposed assessment roll and provided notice of
this benefit hearing.
The improvements to be provided and the casts thereof are:
To Be Assessed
Total Cast FY 2443-2444
{1} Maintenance and landscaping $ 736,971 $ 699,455
{2} Security patrols $ 144,444 $ 144,444
(3 City administrative fee $ 8,544 $ 8,544
(4} t~peratir~g expenses "_-; 201,000 5 204.000
(5) Contingency ~ '~~ ~~ 000 `~ 10.000
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Totals X1.222,563 $1,1$5.047'
~` The 537.516 difference between total costs and assessr~~ents reflects a direct reimbursement from the
City of For+ `~.^~nrth for park maintenance. which was appropriated fror~i General Fund balance by ~;~tv
~'ity of ` Fort worth, .Texas
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DATE REFERENCE NUMBER ~C}G NAME PAGE
9/9!03 BH-21 Q 13PID6BENENEAR 2 of 2
SUBJECT BENEFIT NEARING FOR FORT WORTH PUBt_IC IMPROVEMENT DISTRICT NO. 6
{PARK GLEN AREA}, 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 City staff that each parcel of property will be enhanced in
value by an amount equal to or more than the proposed assessments upon completion of the
improvements in accordance with the PID No. 6 management contract between the City and Principal
Management Group.
FISCAL IPIFORMATIORIICERTIFICATION:
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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