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Home My WebLink About28408-04-2026 - City Council - OrdinanceORDINANCE NO.28408-04-2026 AN ORDINANCE AMENDING THE FISCAL YEAR 2025-2026 BUDGET AND FIVE- YEAR SERVICE PLAN FOR PUBLIC IMPROVEMENT DISTRICT NO. 11 - STOCKYARDS; MAKING THIS ORDINANCE CUMULATIVE OF ALL OTHER ORDINANCES; PROVIDING FOR A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Public Improvement District Assessment Act, Chapter 372 of the Texas Local Government Code ("Act"), allows for the creation of public improvement districts; WHEREAS, on January 28, 2003, the City Council of the City of Fort Worth ("City Council") authorized the establishment of Public Improvement District No. 11 - Stockyards ("District"), as a public improvement district in accordance with the Act and Resolution No. 2925; WHEREAS, on September 16, 2025, City Council adopted Ordinance No. 27987-09-2025, approving the fiscal year (FY) 2025-2026 Budget, Five -Year Service Plan, Assessment Plan, and Tax Year 2025 Assessment Roll for the District; WHEREAS, the City Council desires to amend the fiscal year 2025-2026 budget and five-year service plan by replacing it with the "Amended Service Plan", which is attached hereto as Exhibit A and incorporated herein for all purposes; WHEREAS, the Amended Service Plan is intended to supersede the Service Plan set out in Ordinance No. 27987-09-2025; and WHEREAS, the Amended Service Plan will not affect the previously adopted Assessment Plan or Assessment Roll. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS THAT: SECTION 1. The Recitals and findings listed above are true and correct and form the basis upon which this Ordinance is being adopted and are incorporated herein by reference. SECTION 2. The City Council hereby approves and adopts the Amended Service Plan for fiscal year 2025-2026. In doing so, the City Council finds that the supplemental services and improvements set forth in the Service Plan are feasible and advisable and will serve the needs and desires of the property owners in the District. SECTION 3. Should any portion, section or part of a section of this Ordinance be declared invalid, inoperative, or void for any reason by a court of competent jurisdiction, such decision, opinion or judgment shall in no way impair the remaining portions, sections, or parts of sections of this Ordinance, which shall remain in full force and effect. Page 1 of 3 SECTION 4. This Ordinance is cumulative of all other ordinances and appropriations amending the same except in those instances where the provisions of this Ordinance are in direct conflict with such other ordinances and appropriations, in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed. SECTION 5. The City Secretary is directed to cause a copy of this Ordinance to be recorded in the real property records of Tarrant County, Texas no later than the seventh (71') day after the adopted date of this Ordinance. SECTION 6. This Ordinance takes effect and will be in full force and effect from and after the date of its passage. hIl7_Y_8f.MIXI].71- 1►1MIla APPROVED AS TO FORM ATTEST: AND LEGALITY: Trey Qualls, Sr. Assistant City Attorney Jannette S. Goodall, City Secretary M&C: 26-2671 d q�40R��12 "ZI OGo00000000j4.0 Adopted and Effective: April 28, 2026 ,�o � C~� o.�dvo 0:C 0 % 00000 00� Ordinance No. 28408-04-2026 Page 2 of 3 REVENUES PID Assessments COFW Assessment Total Budgeted Revenues Use of Fund Balance Total Revenues EXPENSES Management Fee Security Enhancements Maintenance & Operations Public Events Utilities Marketing & Research City Audit Fee City Administrative Fee Total Budgeted Expenses Contribution to Fund Balance Total Expense Net Change in Fund Balance Fund Balance, Beginning of Year Estimated Fund Balance, End of Year Reserve Requirement Over (Under) Reserve 'FY2026 Assessment Rate =.12 EXHIBIT A AMENDED SERVICE PLAN City of Fort Woth Five Year Service Plan: Mid -Year Adjustments Public Improvement District No. 11 - Stockyards FY 25/26 FY 26/27 FY 27/28 FY 28/29 FY 29/30 S 551.398 $ 567.940 $ 584,978 $ 602,527 $ 620.603 14.806 11.359 11,700 12,051 12,412 S 566.204 S 579,299 $ 596,678 $ 614.578 S 633,015 5 - 5 - $ - $ - $ - $ 566,204 S 579,299 $ 596,678 $ 614,578 $ 633,015 5 110,280 S 113,588 $ 116,996 $ 120.505 S 124,121 180,000 180,000 185.000 185.000 185,000 162,600 150,000 150,000 160.000 160,000 16,400 10.000 10,000 10,000 10,000 - 8,500 8.500 8.500 8,500 16.000 35.000 40.000 40,000 40,000 6.000 3,000 3.000 3.000 3,000 11.324 11.586 11.934 12,292 12.660 S 502,604 S 511,674 $ 525,430 $ 539,297 S 543,281 S 63,600 5 67,625 $ 71.248 $ 75,281 S 89.734 S 566,204 S 579,299 S 596.678 $ 614,578 S 633,015 S 63.600 S 67.625 $ 71.248 $ 75,281 S 89,734 $ 267.256 S 330.856 $ 398,481 $ 469.729 S 545.010 330,856 398.481 469.729 545.010 634,744 85,296 87,589 89.901 90,565 90.565 $ 245,560 S 310,892 $ 379,829 $ 454,445 S 544,180 The total budgeted costs of the improvements and services for the District for fiscal year 2025-2026 are $566,204.00. Of this amount, $551,398.00 will be funded by assessments collected on privately -owned parcels located in the District. The remainder of the costs will be funded by other revenue sources, including: • $14,806.00 in direct payments from the City for payment in lieu of assessments, which was appropriated from the General Fund balance by City Council action on September 16, 2025, and by this amendment. Ordinance No. 28408-04-2026 Page 3 of 3 City of Fort Worth, Texas Mayor and Council Communication DATE: 04/28/26 M&C FILE NUMBER: M&C 26-0270 LOG NAME: 03PID11 MIDYEAR FY26 SUBJECT (CD 2) Adopt Ordinance Amending Fort Worth Public Improvement District 11 — Stockyards Fiscal Year 2025-2026 Adopted Budget and Five - Year Service Plan; and Authorize the Execution of an Amendment to the Associated Management and Improvement Services Agreement with Fort Worth Stockyards, Inc. to Align with these Changes RECOMMENDATION: It is recommended that the City Council: 1. Adopt the attached ordinance amending Public Improvement District 11 — Stockyards Fiscal Year 2025-2026 Budget and Five -Year Service Plan to reflect amendments associated with a mid -year review and direct the City Secretary to record the same in the real property records of Tarrant County, Texas no later than the seventh (7th) day after adoption by the City Council; and 2. Authorize the execution of an amendment to the associated Management and Improvement Services Agreement with Fort Worth Stockyards, Inc. (City Secretary Contract No. 64234) to align with these changes. DISCUSSION: The City of Fort Worth's (COFW) FWLab Department administers the City's Public Improvement Districts (PIDs). The City's PID Policy outlines the need to proactively work with the City's PID management companies to oversee the services being provided within each of the PIDs. PID 11 — Stockyards (or the Stockyards PID) is managed by Fort Worth Stockyards, Inc. (FWSI). On September 16, 2025, City Council adopted Ordinance No. 27987-09-2025, approving the Fiscal Year (FY) 2025-2026 Budget, Five -Year Service Plan, Assessment Plan, and Tax Year 2025 Assessment Roll for the Stockyards PID. Following a mid -year review of the Stockyards PID budget, City staff and FWSI have identified the need for a budget adjustment to better align budgeted expenses with actual activities. The expenditure adjustments are primarily attributable to removing estimated water costs for a tree planting that will no longer occur this fiscal year, lower than expected costs for website development, and an increased investment in signage, monitors, and holiday lighting. In addition to PID Assessments, the Stockyards PID also receives funding from City of Fort Worth Payment In -Lieu of Assessment, which is an allocation to the PID budget for assessments the City would pay on City -owned properties in the Stockyards PID, if the City was not a tax-exempt entity. This revenue source is not changing in the current update to the Five -Year Service Plan. Revenue adjustments: Previously I Recommended Amended Line Item Approved Mid -Year FY26 Budget FY26 Budget Item Adjustment Item PID Assessments $551,398.00 $0.00 $551,398.00 City Payment In - Lieu of 14,806.00 0.00 14,806.00 Assessments Totals $566,204.00 $0.00 $566,204.00 Expenditure adjustments: Line Item Management Fee (Security Maintenance & Operations Public Events Previously Approved Recommended Amended FY26 Budget Mid -Year FY26 Budget Item Adjustment Item $110,280.00 180,000.00 148,500.00 10,000.00 $0.00 $110,280.00 0.00 180,000.00 14,100.00 162,600.00 6,400.00 16,400.00 Utilities 8,500.00 (8,500.00) 0.00 Marketing & Research (Website/Newsletter) 31,000.00 (15,000.00) 16,000.00 ICity Audit Fee City Administrative Fee Contribution to Fund Balance Totals II 3,000.0011 11, 324.0011 II 63,600.0011 IF—$.566,204.0011 3,000.0011 6,000.001 0.0011 11, 324.001 0.0011 63,600.001 $0.0011 $566,204.001 Upon approval of the above recommendations, the total budgeted expenses for FY2025-2026 will be $566,204.00. This mid -year budget adjustment will not impact the total appropriations. The revised budget and Five -Year Service Plan will take effect upon approval by City Council. The City and FWSI will amend the existing management contract to reflect the mid -year adjustment (City Secretary Contract No.64234). Funding will be budgeted within the FWPID #11 — Stockyards Fund for Fiscal Year 2026. The Stockyards PID is located in COUNCIL DISTRICT 2. A Form 1295 is not required because: This M&C does not request approval of a contract with a business entity. FISCAL INFORMATION / CERTIFICATION: The Director of Finance certifies that approval of these recommendations will have no material effect on City funds. Submitted for Citv Manaaer's Office bv: Oriainatina Business Unit Head: Christianne Simmons 6222 Additional Information Contact: Brady Kirk 8712