HomeMy WebLinkAboutOrdinance 15676
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DATE REFERENCE NUMSER L4G NAME PAGE
910103 BN-~~ ~ 13PID8BENENEAR 1 of 2
~u~uECT BENEFIT HEARING FOR FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 8
{CAMP BOWIE} ADOPTION OF APPROPRIATION ORDINANCE AND LEVYING OF
ASSESSMENTS FOR F1SCA~ YEAR 2003-2004
RECOMMENDATION:
It is recommended that the City Council:
1. Hold a benefit hearing concerning the prapased property assessments for Fiscal Year 2003-2004,
on September 9, 2003; and
2. Close the benefit hearing; and
3. Adapt the attached ordinance which levies the prapased assessments; and
4. Adapt the attached appropriation ordinance increasing estimated receipts and appropriations by
$240,000 in the Special Assessment District Fund from available funds.
DISCUSSION:
On August 26, 2003, {M&C G-14077}, the City Council directed that certain improvements andlor
services {the "Improvements"} shall be provided in Fort Worth Public Improvement District {PID} No. 8
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
FY 2003-04
{1 } City Fee $ 2,~i00
{2} Operations $100,000
{3} Capitallmprovements $ 82.400
{4) P~larketing campaign ~ 20.000
(5i Special Events ~ 15.000
'Total 5240.000
Total costs for improvements and services in the District are to be paid wholly fror~r~ assessr7~ents with
no reimbursement from the City of Fort UVorth
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GATE REFERENCE NUMBER LQG NAME PAGE
99/03 BH-~'~ 2 13PID8BENEHEAR 2 of 2
~l1BJECT BENEFIT HEARING FOR FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 8
(CAMP BOWIE} 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 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. 8 management contract between the City and Historic
Camp Bowie, lnc.
FISCAL 1NFORMATIONICERTIFICATION:
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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