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Home My WebLink About064234-A1 - General - Contract - Fort Worth Stockyards, Inc.CSC No. 64234-Al FIRST AMENDMENT TO CITY SECRETARY CONTRACT NO. 64234, A MANAGEMENT AND IMPROVEMENT SERVICES AGREEMENT Fort Worth Public Improvement District No. 11 (Stockyards) This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NUMBER 64234 (First Amendment") is made and entered into by and between the CITY OF FORT WORTH (the "City"), a home -rule municipal corporation organized under the laws of the State of Texas, acting by and through its duly authorized Assistant City Manager, and FORT WORTH STOCKYARDS, INC, a Texas nonprofit corporation ("Contractor"), acting by and through its duly authorized representative. WHEREAS, the City and Contractor are parties to a Management and Improvement Services Agreement for Fort Worth Public Improvement District No. 11, the same being City Secretary Contract Number 64234 ("Agreement"); WHEREAS, Contractor identified a need to reallocate certain funds between budgeted line items; WHEREAS, on April 28, 2026, the City Council adopted an ordinance approving a revised Fiscal Year 2025-2026 budget and five-year service plan, taking into account the budgetary adjustments; and WHEREAS, the parties wish to amend the Agreement to incorporate the revised budget and five- year service plan. NOW, THEREFORE, for and in consideration of the mutual covenants, promises, and agreements contained herein, the City and Contractor do hereby covenant and agree to amend the Agreement as follows: 1. Exhibit A to the Agreement concerning the Budget and Service Plan for the District is replaced with, and superseded by, a new Exhibit A that is attached to this First Amendment, which is incorporated into the Agreement for all purposes. 2. All terms of this First Amendment that are capitalized but not defined have the meanings assigned to them in the Agreement. 3. All terms and conditions of the Agreement that are not expressly amended pursuant to this First Amendment will remain in full force and effect. OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX First Amendment to CSC 62188 11 P a g e IN WITNESS WHEREOF, the undersigned have caused this First Amendment to be executed in Fort Worth, Tarrant County, Texas. CITY OF FORT WO TH: GQONbW)"k— By: Dianna Giordano (May 21, 2026 16:09:35 CDT) Jesica McEachern Assistant City Manager Date: 05/21 /2026 FORT WO TH STOCKYARDS, INC a Texas nonprofit corporation By: P��Pal" Paul Paine President Date: 05/11 /2026 CITY OF FORT WO TH INTERNAL ROUTING PROCESS: APPROVAL RECO NDED: CA'Ad- By: Christianne Simmons (May 20. 2026 15:55:32 CDT) Name: Christianne Simmons Title: Chief Transformation Officer APPROVED AS TO FORM AND LEGALITY: By: 5i Name: Taylor Paris Title: Sr Assistant City Attorney Contract Authorization: M&C: 25-0816 (September 16, 2025); 26-0270 (April 28 2026 Form 1295:2025-1342438 Contract Compliance Manager: By signing, I acknowledge that I am the person responsible for the monitoring and administration of this contract, including ensuring all performance and reporting requirements. 1 By: 4� Name: Crystal Hinojosa Title: Economic Development Manager a v an4 Four yea City Secretary: ,p ��°y°° �a B °a ° o °> Name: Jannette S. Goodall °cnxp$op Title: City Secretary OFFICIAL RECORD CITY SECRETARY FT. WORTH, TX First Amendment to CSC 64234 2 1 P a g c Exhibit "A" REVENUES 01JAs5 nie.'i[S COF'dl A,bn-rient TotatBudgeted Revenues kAe si Fund Balance Total Revenues EXPENSES Management Fee Security Enhancements Maintenance 8 Operations Public Events Utilities Marketing 8 Research CityAudit Fee City Administrative Fee Totat Budgeted Expen5e5 Contnhuuon w 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 RFY2026 Assessment Rate =.12 City of Fart Worth Five Year Service Plan: Mid -Year Adjustment Public improvement District No. 11 -Stockyards FY 25126 FY 26127 FY 27128 FY 28129 FY 29130 $ 551.398 $ 567.940 $ 584.978 $ 602,527 $ 620,603 14.105 11,359 11.700 12,051 12,412 $ SWJ64 $ 579,299 S 596,678 S 614.578 S 633,015 $ S S S S $ 56612134 $ 579A49 $ 596,678 S 614579 S 633,015 $ 110290 S 119,5m S 116.996 $ 12ti,S05 $ 124,121 180,000 180.000 185,000 185,000 185,000 162,600 150,000 1S0,000 160,000 160,000 16,400 10.000 10.000 10,000 10.000 8.500 8,sm 8,500 8.500 16,WD 35,000 40.000 40.000 40.000 6,000 low 3,000 3:000 3,000 1 _.326 11,586 11934 12,292 12,660 S 5OL604 S 511.674 S 525.430 S 539.297 S 543..281 $ 63,tioo $ 671625 $ _.«� 3 75-2P.1 _:a S 566,204 $ 579299 $ SW678 S 614,578 $ 633,015 $ 63,SW $ 67AM $ 71,248 $ 75,431 $ 89,734 $ 267.2s6 S 330.856 $ 398.481 $ 469,729 $ 545.010 330.8% 390,481 469,729 54SAIII) 634.744 8S,296 87.5tg1 B9,901 90.565 90,SM $ 245,50 $ 310,$92 $ 379,ti29 S 4540445 $ 544,180 First Amendment to CSC 64234 3 1 P a g e M&C Review Page 1 of 3 A CITY COUNCIL AGEND Create New From This M&C Official site of the City of Fort Worth, Texas FORT WORTH �''� :7 4:74►Is] =1 ki,C9l r•Emew:1SIY•i m1[91HI,rn TAIL CODE: G TYPE: CONSENT PUBLIC HEARING: 03PID11 MIDYEAR FY26 Zue 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: 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 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 Approved Recommended Amended Line Item FY26 Budget Mid -Year FY26 Budget Item Adjustment Item http://apps.cfwnet.org/council_packet/mc_review.asp?ID=34313&councildate=4/28/2026 5/6/2026 M&C Review Page 2 of 3 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 1 $566,204.0011 $0.0011 $566,204.00 Expenditure adjustments: Line Item Previously Approved FY26 Budget Item Recommended Mid -Year Adjustment Amended FY26 Budget Item Management Fee 110,280.0011 $0.001 $110,280.00 Security 1 180,000.00111 180,000.00 Maintenance & Operations 11 148,500.0011 14,100.001 162,600.00 Public Events 1 10,000.001 6,400.00 16,400.00 Utilities Marketing & Research (Website/Newsletter)1 1 8,500.00 31,000.001 (8,500.00) (15,000.00) 0.00 16,000.00 City Audit Fee 11 3,000.001 3,000.0011 6,000.00 City Administrative Fee 11,324.00111 11,324.00 Contribution to Fund Balance 1 63,600.00111 63,600.00 Totals 1 $566,204.0011 $0.001 $566,204.00 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. FISCAL INFORMATION/CERTIFICATION: The Director of Finance certifies that approval of these recommendations will have no material effect on City funds. TO Fund Department Account Project Program Activity Budget Reference # Amount ID ID Year Chartfield 2 FROM Fund Department Account Project Program Activity Budget Reference # Amount ID ID Year Chartfield 2 Submitted for City Manager's Office by: Originating Department Head: Christianne Simmons (6222) Additional Information Contact: Brady Kirk (8712) http://apps.cfwnet.org/council_packet/mc_review.asp?ID=34313&councildate=4/28/2026 5/6/2026 M&C Review Page 3 of 3 ATTACHMENTS PID 11_MY SAP_FY26.pdf (Public) PID 11 SAP Amendemnet Ord FY26.DOCX (Public) http://apps.cfwnet.org/council_packet/mc_review.asp?ID=34313&councildate=4/28/2026 5/6/2026 FORT WORTH. City Secretary's Office Contract Routing & Transmittal Slip Contractor's Name: Fort Worth Stockyards, Inc. Subject of the Agreement: First Amendment to CSC 64234 FY26 Management Agreement PID 11-Stockyards M&C Approved by the Council? * Yes 9 No ❑ If so, the M&C must be attached to the contract. Is this an Amendment to an Existing contract? Yes 8 No ❑ 64234 If so, provide the original contract number and the amendment number. Is the Contract "Permanent"? *Yes ❑ No 8 If unsure, see back page for permanent contract listing. Is this entire contract Confidential? *Yes ❑ No ® If only specific information is Confidential, please list what information is Confidential and the page it is located. Effective Date: 04/22/2026 If different from the approval date. Expiration Date: 09/30/2026 If applicable. Is a 1295 Form required? * Yes ❑ No M *If so, please ensure it is attached to the approving M&C or attached to the contract. Project Number: If applicable. *Did you include a Text field on the contract to add the City Secretary Contract (CSC) number? Yes 8 No ❑ Contracts need to be routed for CSO processing in the following order: 1. Katherine Cenicola (Approver) 2. Jannette S. Goodall (Signer) 3. Allison Tidwell (Form Filler) *Indicates the information is required and if the information is not provided, the contract will be returned to the department.