Loading...
HomeMy WebLinkAbout26-28793 - City Council - OrdinanceORDINANCE 26-28793 AN ORDINANCE APPROVING AND ADOPTING THE FISCAL YEAR 2026- 2027 BUDGET, FIVE-YEAR SERVICE PLAN, ASSESSMENT PLAN, AND TAX YEAR 2026 ASSESSMENT ROLL (TO BE KEPT ON FILE WITH THE CITY SECRETARY) FOR PUBLIC IMPROVEMENT DISTRICT NO. 6 - PARK GLEN; LEVYING ASSESSMENTS FOR THE COST OF CERTAIN IMPROVEMENTS AND SERVICES PROVIDED IN FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 6 DURING FISCAL YEAR 2026-2027; SETTING CHARGES AND LIENS AGAINST PROPERTY IN THE DISTRICT AND AGAINST THE OWNERS THEREOF; PROVIDING FOR THE COLLECTION OF SUCH ASSESSMENTS; RESERVING UNTO THE CITY COUNCIL THE RIGHT TO ALLOW CREDITS REDUCING THE AMOUNT OF THE RESPECTIVE ASSESSMENT TO THE EXTENT OF ANY CREDIT GRANTED; 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 September 22, 1998, the City Council of the City of Fort Worth ("City Council") authorized the establishment of Public Improvement District No. 6 — Park Glen ("District"), as a public improvement district in accordance with the Act and Resolution No. 2456, a map of which is attached hereto as Exhibit A and incorporated herein for all purposes; WHEREAS, Section 372.013 of the Act requires the City Council to annually review and adopt an ordinance approving the Service Plan ("Service Plan") for the District; WHEREAS, Sections 372.013 and 372.014 of the Act require the annual Service Plan to (i) cover a period of at least five years; (ii) define the annual indebtedness and the projected costs for improvements; (iii) include an Assessment Plan ("Assessment Plan"); and (iv) include a copy of the notice form required by Section 5.014 of the Texas Property Code (the Service Plan and Assessment Plan are collectively referred to herein as the "Service and Assessment Plan"); WHEREAS, City Council must review the proposed fiscal year 2026-2027 Service Plan and hold a public hearing to receive comments and pass on any objections to the 2026 Assessment Plan raised by any owner of property located within the District and, at the conclusion of the hearing, levy an assessment for the purpose of providing supplemental services and improvements for the District; WHEREAS, the Service and Assessment Plan is attached hereto as Exhibit B and incorporated herein for all purposes; WHEREAS, City Council desires to approve and adopt the 2026 Assessment Roll that was filed with the City Secretary and subject to public inspection in the City's official records prior to the public hearing ("Assessment Roll"); WHEREAS, the Service and Assessment Plan and Assessment Roll were previously presented in a public hearing conducted by the City Council on August 25, 2026 (M&C 26-0912); and Ordinance 26-28793 WHEREAS, the Service and Assessment Plan and Assessment Roll were once again presented to the City Council in a public hearing conducted on the 15th day of September, 2026, beginning at 6 p.m. in the Council Chamber in the City Hall in the City of Fort Worth, Texas ("Public Hearing"), notice of which was published and mailed to all record owners of property in the District, and at such hearing all desiring to be heard were given a full and fair opportunity to be heard; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS THAT: SECTION 1. The Public Hearing is hereby closed and any and all protests and objections, whether herein enumerated or not, are hereby overruled. 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 Service and Assessment Plan and Assessment Roll (to be kept on file with the City Secretary). 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. The City Council, from all evidence before it, including all information provided to it and considered in the Public Hearing, fmds that the assessments herein described should be made and levied against the respective parcels of privately -owned property in the District and against the owners of such property and that a corresponding payment in lieu of assessment should be made for City -owned property. Such assessments and charges are right, proper, and substantially in proportion to the benefits of the respective parcels of property by means of the improvements and services in the District for which such assessments are levied and establish substantial justice, equality, and uniformity between all parties concerned, considering the benefits received and burdens imposed. The City Council further fmds that in each case the property assessed is specially benefited in enhanced value to the said property by means of the improvements in the District and for which assessment is levied and charge made, and further fmds that the apportionment of the cost of the improvements is in accordance with applicable law. The City Council, from the evidence, further fmds that the values of the respective parcels of property on January 1, 2026, are true and correct reflections of the information contained in the records of the relevant appraisal district. SECTION 4. There is hereby levied and assessed against the parcels of privately -owned property in the District, and against the real and true owners thereof (whether such owners be correctly named herein or not), the sums of money itemized per parcel of property, and the owners thereof, as far as such owners are known, at the following rate and method of payment: $0.155 per each $100.00 of valuation for residential properties and $0.035 per each $100.00 of valuation for commercial properties subject to assessment. As it concerns any City -owned property within the District, the City will contribute a payment in lieu of assessment that is based on the same rate as the privately -owned property in the District. SECTION 5. Ordinance 26-28793 Where more than one person or entity owns an interest in any property described herein, each such person or entity will be personally liable only for its, his, or her pro rata share of the total assessment against such property in proportion to its, his, or her respective interest to the total ownership of such property, and its, his, or her respective interest in such property may be released from the assessment lien upon payment of a proportionate sum. SECTION 6. The several sums above mentioned and assessed against the said parcels of property, and owners thereof, and penalty and interest thereon at the rate prescribed by Chapter 372, Texas Local Government Code ("Public Improvement District Assessment Act"), together with reasonable attorney's fees and cost of collection, if incurred, are hereby declared to be and are made a lien upon the respective parcels of privately -owned property against which the same are assessed, and a personal liability and charge against the real and true owners of such property, whether such owners be correctly named herein or not, and such liens shall be and constitute the first enforceable lien and claim against the property on which such assessments are levied, and will be a first and paramount lien thereon, superior to all other liens and claims, except state, county, school district, and city ad valorem taxes. A copy of this ordinance will be filed with the County Clerk of Tarrant County, Texas, and when so filed constitutes complete and adequate legal notice to the public concerning the liens hereby assessed against the respective parcels of property and the owners thereof. The sums so assessed against the respective parcels of property and the owners thereof become due and payable on or before January 31, 2027, and become delinquent if not paid by February 1, 2027. The entire amount assessed against each parcel of property bears penalty and interest, from and after February 1, 2027, at the same rate as prescribed by law for any delinquent ad valorem tax until paid. SECTION 7. If default is made in the payment of any assessments, collection thereof will be enforced by suit in any court of competent jurisdiction, and said City may exercise all of its lawful powers to aid in the enforcement and collection of said assessments. SECTION 8. The total amount assessed against the respective parcels of property, and the owners thereof, is in accordance with the proceedings of the City hereto and is less than the proportion of the cost allowed and permitted by applicable law. SECTION 9. Although the aforementioned charges have been fixed, levied, and assessed in the respective amounts herein stated, the City Council hereby reserves the right to reduce the aforementioned assessments by allowing credits to certain property owners where deemed appropriate and provided that any such allowance does not result in any inequity or unjust discrimination. SECTION 10. Full power to make and levy reassessments and to correct mistakes, errors, invalidities, or Ordinance 26-28793 irregularities in the assessments are, in accordance with the law in force in this City, vested in the City. SECTION 11. In any suit upon any assessment or reassessment, it will be sufficient to allege the substance of the provision recited in this ordinance and that such recitals are in fact true, and further allegations with reference to the proceedings relating to such assessment and reassessment shall not be necessary. SECTION 12. 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. SECTION 13. 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 14. 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 (7th) day after the adopted date of this Ordinance. SECTION 15. This Ordinance takes effect and will be in full force and effect from and after the date of its passage. APPROVED AS TO FORM AND LEGALITY: By: Taylor Paris, Senior Assistant City Attorney ADOPTED: September 15.2026 EFFECTIVE: September 15.2026 Jannette S. Goodall, City Secretary ay d FORT ��a p°°°°°°°°O PJ6 o OOO OOOOOOOO .Z1 Ordinance 26-28793 9�A Coventry pNj Mils tP�a i Arcadia r°°Trail I North I TJ 1 X !i[ ' f 1-1 I a _ I U C J I ca _ o O O Pork O P Place �\ Y 377 vPL a 1 PRFwt1TT � W I - f \ 1 Arcadia Trail — 8AS5Wt1• Silver .'INTER Relee Sage Arcadia Trail Wa t South FORT WORT H P1 D 6: Park Glen Source. PlannMi and Data Anatytics Datc July 2020 CGopr*l2020Cflydrort Wort k r+vmlalion c.f sndtatdr Wn1 I,rOna:t l6 for lnfoncrd tafrpaxs+Mlq vt rv.e (000lno fYM I,, n N ru1LOM faf Iga1. ar(Marral�, n rurvayfry avputn If Ices rw,I fannn: an ontMYraS CNVay 1MI rea0MMr+ only tfit appvlmale relative budon of praatftn aaundaiea. The City ol fort North otooa no reoaon511>ity for die atoeacy of teW data 0 1,000 2,000 4,000 Feet N I I I I I I I I I EXHIBIT B SERVICE AND ASSESSMENT PLAN Ordinance 26-28793 SERVICE PLAN City of Fort Worth Service and Assessment Plan Public . - . _ District No. 6 - Park Glen FY 27 FY 26 FY 29 FY 30 REVENUES PIDAssessments S 2.108.700 $ 2,491,808 $ 7.566,563 $ 2,643,559 COFW Assessments 7.785 7.798 7,7% 7298 COf W Payns nt In -Lieu of Services 357.167 367.877 378,913 390.281 Totat Budgeted Revenues $ 2.473.647 $ 2.866,983 $ 2,952,771 $ 3,041.138 Use off and Balance S 434.418 S 48,594 $ 3.813 $ Total Revenues $ 2.908.065 $ 2,915.577 $ 2.956,586 $ 3,441,138 EXPENSES C N Admn,straiNe I ee 49,473 57,340 59,055 60,823 Management F ee 176.705 182.006 187.466 193.090 Capital Improvements 210.000 150.000 130.000 130,000 Common Area Maintenance 183,000 188,490 194.145 199,969 Communications 28,000 28.000 28.000 28,000 I louday Decoration 55.000 56.650 58,350 60,100 Landscaping 1,604.237 1,657.364 1,701.935 1.752,993 Public l vents 70.400 77.517 74,687 76,928 Security I nhancerrants 285,400 278,000 768.000 273,360 Utlibes 732,000 736,640 241,373 746200 Audita Compuanc a 13.850 13,575 13,575 13,575 Total Budgeted Expenses S 2.908.065 $ 2,915.577 $ 2.956.586 $ 3.035.036 Contnbut.on to I and Balance S 3 $ $ 6,100 Total Expense $ 2.908.065 S 2.515.577 $ 2,956.586 $ 3.041,138 Net Change In Fund Balance $ (434.418) $ (48.594) $ 13.813) S 6,100 Estimated fund Balance, Beginning of Year S 1,008.770 S 573,802 $ 525,208 S 521.395 Estimated Fund Balance, Fri -dot Year 573.807 525,708 571,395 577,495 ReserveRegwrement 486.077 492,863 505,941 519.394 Over (Under) Reserve S 87.775 $ 32.345 $ 15,454 $ 8.101 I FY2027 Assessment Rate = $.155 Residentiall $.035 Commercial Fiscal Year 2026-2027 Budget FY31 $ 2,722.866 7.298 401.989 $ 3,132.153 S S 3,132.153 67,643 198.883 130.000 705,968 78.000 61.903 1,805,583 79,236 278,827 251,124 13.575 S 3,115.742 S 16.411 S 3.132.153 S 16.411 $ 577.495 543.906 519.394 $ 24.511 Ordinance 26-28793 The total budgeted costs of the improvements and services for the District for fiscal year 2026-2027 are $2,908,065.00. Of this amount, $2,108,700.00 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: $357,162.00 in direct payments from the City for payment in lieu of services, which will be appropriated from the General Fund balance by City Council action on September 15, 2026; $7,785.00 in direct payment from the City for Payment in lieu of assessments; and $434,418.00 transferred from the unaudited, unassigned fund balance. ASSESSMENT PLAN Ordinance 26-28793 The cost of each improvement and service provided during a fiscal year will be assessed against real property within the District benefitting from such improvement or service based on the value of such property, including the value of structures and other improvements on the property as determined by the applicable appraisal district. The City will levy and assess against the parcels of privately -owned property in the District, and against the real and true owners thereof, the sums of money itemized per parcel of property, and the owners thereof, as far as such owners are known, at the following rate and method of payment: $0.155 per each $100 of value for residential property in the District and $.035 per each $100 of value for commercial property in the District. The current names and addresses of the properties that are subject to assessment, along with the ordinance levying such assessments, are on file with the City Secretary of the City of Fort Worth. NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO THE CITY OF FORT WORTH, TEXAS Ordinance 26-28793 CONCERNING THE FOLLOWING PROPERTY (insert property address) As the purchaser of the real property described above, you are obligated to pay assessments to the City of Fort Worth, Texas, for the costs of a portion of a public improvement or services project (the "Authorized Improvements") undertaken for the benefit of the property within Fort Worth Public Improvement District No. 6 — Park Glen (the "District") created under Subchapter, Chapter , Local Government Code. AN ASSESSMENT HAS BEEN LEVIED AGAINST YOUR PROPERTY FOR THE AUTHORIZED IMPROVEMENTS, WHICH MAY BE PAID IN FULL AT ANY TIME. IF THE ASSESSMENT IS NOT PAID IN FULL, IT WILL BE DUE AND PAYABLE IN ANNUAL INSTALLMENTS THAT WILL VARY FROM YEAR TO YEAR DEPENDING ON THE AMOUNT OF INTEREST PAID, COLLECTION COSTS, ADMINISTRATIVE COSTS, AND DELINQUENCY COSTS. The exact amount of the assessment may be obtained from the City Secretary of the City of Fort Worth, Texas. The exact amount of each annual installment will be approved each year by the City Council of the City of Fort Worth, Texas, in the annual service plan update for the District. More information about the assessments, including the amounts and due dates, may be obtained from the City Secretary of the City of Fort Worth, Texas. Your failure to pay any assessment or any annual installment may result in penalties and interest being added to what you owe or in a lien on and the foreclosure of your property. The undersigned purchaser acknowledges receipt of this notice before the effective date of a binding contract for the purchase of the real property at the address described above. Date: Signature of Purchaser Ordinance 26-28793 FY 27 REVENUES PID Assessments $ 2,108,700 COFW Assessments 7,785 COFW Payment In -Lieu of Services 357,162 Total Budgeted Revenues $ 2,473,647 Use of Fund Balance $ 434,418 Total Revenues $ 2,908,065 EXPENSES City Administrative Fee 49,473 Management Fee 176,705 Capital Improvements 210,000 Common Area Maintenance 183,000 Communications 28,000 Holiday Decoration 55,000 Landscaping 1,604,237 Public Events 70,400 Security Enhancements 285,400 Utilities 232,000 Audit & Compliance 13,850 Total Budgeted Expenses $ 2,908,065 Contribution to Fund Balance $ - Total Expense $ 2,908,065 Net Change in Fund Balance $ (434,418) Estimated Fund Balance, Beginning of Year $ 1,008,220 Estimated Fund Balance, End of Year 573,802 Reserve Requirement 486,027 Over (Under) Reserve $ 87,775 City of Fort Worth Service and Assessment Plan Public Improvement District No. 6 - Park Glen FY 28 FY 29 FY 30 FY 31 $ 2,491,808 $ 2,566,563 $ 2,643,559 $ 2,722,866 7,298 7,298 7,298 7,298 367,877 378,913 390,281 401,989 $ 2,866,983 $ 2,952,774 $ 3,041,138 $ 3,132,153 $ 48,594 $ 3,813 $ - $ - $ 2,915,577 $ 2,956,586 $ 3,041,138 $ 3,132,153 57,340 59,055 60,823 62,643 182,006 187,466 193,090 198,883 150,000 130,000 130,000 130,000 188,490 194,145 199,969 205,968 28,000 28,000 28,000 28,000 56,650 58,350 60,100 61,903 1,652,364 1,701,935 1,752,993 1,805,583 72,512 74,687 76,928 79,236 278,000 268,000 273,360 278,827 236,640 241,373 246,200 251,124 13,575 13,575 13,575 13,575 $ 2,915,577 $ 2,956,586 $ 3,035,038 $ 3,115,742 $ - $ - $ 6,100 $ 16,411 $ 2,915,577 $ 2,956,586 $ 3,041,138 $ 3,132,153 $ (48,594) $ (3,813) $ 6,100 $ 16,411 $ 573,802 $ 525,208 $ 521,395 $ 527,495 525,208 521,395 527,495 543,906 492,863 505,941 519,394 519,394 $ 32,345 $ 15,454 $ 8,101 $ 24,511 *FY2027 Assessment Rate = $.155 Residential/ $.035 Commercial City of Fort Worth Budget Narrative Public Improvement District No. 6- Park Glen Management Fee This category outlines the administrative costs associated with operating the PID. It includes comprehensive management expenses such as salaries and healthcare, accounting support, mailings, office rent, and technology needs like computers and phone services. Capital Improvements This line item varies each year based on community priorities. For this year, planned improvements include the addition of sun sails at a playground, brick work throughout the community as well as a renovated disc golf course. Common Area Maintenance This line item covers repairs and upkeep for over 10 square miles of gray perimeter fencing, as well as masonry repairs for hundreds of brick columns and entry features. It also includes emergency response for PID-related incidents, electrical maintenance for all utility systems, and various miscellaneous repairs such as signage issues, net replacements at recreation courts, and power washing of monuments. Communications This item covers the production and mailing of our annual newsletter to all 4,471 residential properties and 82 commercial businesses. It also includes the cost of the online voting platform and website maintenance. Our active community website requires ongoing hosting, a search feature, and functioning email links. Holiday Decoration This line item includes Christmas decorations and contingency funds for additional or replacement holiday items. We provide garland and lighting at every monument entry and entry displays at 377/Basswood and Basswood/Teal. It also covers the installation of 69 flags in recognition of nine different holidays throughout the year. Landscaping Our landscape covers 4 different types of mows: Weekly, Bi-weekly, rough, and seasonal. We have 36 mow cycles per year. We maintain all of Arcadia Park and the major thoroughfares throughout the Park Glen and Park Place neighborhoods. This includes North Tarrant to Basswood and 377 to Beach Street. It also encompasses our tree care contract for approximately 2,000 trees within the neighborhood. Additionally, it provides contingency work such as tree trimming, removal of dead trees, and replanting. Irrigation system repairs are included under this item as well. Beyond essential services, this budget also allocates funds for landscape enhancements, including bed redesigns, wildflower plantings throughout the PID, park entry improvements, erosion control support, and annual mulch refreshes. Overall, this encapsulates the SAP goals of beautification and upkeep throughout the neighborhood. City of Fort Worth Budget Narrative City of Fort Worth Budget Narrative Public Events This line item funds our annual fireworks event and related activities. Expenses include fireworks, signage, portable restrooms, live music, face painting, balloon artists, off -duty officers, incidentals, and mailings to residents impacted by temporary road closures. Security Enhancements This budget supports additional security patrols to supplement services provided by the Fort Worth Police Department (FWPD). It funds approximately 3,400 extra patrols to enhance safety throughout the community. Patrol hours are random. Utilities This budget category covers water and utility services throughout the community. It supports over 1,000 irrigation zones and 38 meters and provides power to all 72 entry points across the PID. Audit & Compliance This line item includes costs associated with the annual review, such as the audit, ordinance filings, issuance of required notices, postage, and newspaper publication requirements City Administrative Fee As outlined in the City of Fort Worth PID Policy, City will charge a fee to each O-PID for the annual costs associated with administering the O-PID. This fee will be calculated annually for each O-PID to be the greater of: a. 2% of the projected externally generated revenue for that year, to include special assessments and any City contributions; or —t > � a= umme FORT WORTH, PI D 6: Park G I en Source: Planning and Data Anal Date: July 2020 ©Copyright 2020 City of Fort Worth. Unauthorized reproduction is a violation of applicable laws. This product is for informational purposes and may not have been prepared for or be suitable for legal, engineering, or surveying purposes. It does not represent an on -the -ground survey and represents only the approximate relative location of property boundaries. The City of Fort Worth assumes no responsibility for the accuracy of said data. 0 1,000 2,000 4,000 Feet N I I I I I I I I FORT WORTH. MAYOR AND COUNCIL COMMUNICATION 12.4 PID06 FY27 DATE: 09/15/26 M&C FILE M&C 26-0915 NUMBER: DEPARTMENT: FWLAB SUBJECT (CD 4) Conduct Public Benefit Hearing for Fort Worth Public Improvement District 6 - Park Glen; Adopt the Ordinance (1) Approving and Adopting the Fiscal Year 2026-2027 Budget, Five -Year Service Plan, Assessment Plan, and Tax Year 2026 Assessment Roll, and (2) Levying Special Assessments for the 2026 Tax Year at a Rate of $0.155 Per Each $100.00 of Residential Property Value and $0.035 Per Each $100.00 of Commercial Property Value; Authorize Execution of Agreement with FirstService Residential Texas PID, LLC, in the Amount of $176,705.00 to Manage the Public Improvement District; and Adopt Appropriation Ordinance (PUBLIC HEARING - a. Staff Available for Questions: Lacey M. Ruiz; b. Public Comment; c. Council Action: Close Public Hearing and Act on M&C) RECOMMENDATION It is recommended that the City Council: 1. Conduct a public benefit hearing concerning the proposed special assessments on the property located in Fort Worth Public Improvement District 6 - Park Glen for the 2026 tax year; 2. Adopt the attached ordinance (1) approving and adopting the Fiscal Year 2026-2027 budget in the amount of $2,908,065.00, five-year service plan, assessment plan, and tax year 2026 assessment roll (on file with the City Secretary) for the Park Glen Public Improvement District; and (2) levying special assessments on privately -owned property located in the Park Glen Public Improvement District for the 2026 tax year at the rates of $0.155 per each $100.00 of residential property value and $0.035 per each $100.00 of commercial property value (Service Assessment Plan and Assessment Ordinance); 3. Direct the City Secretary to record a copy of the Service Assessment Plan and Assessment Ordinance in the real property records of Tarrant County, Texas no later than the seventh (7th) day after adoption by the City Council; 1 of 3 FORT WORTH„ 4. Authorize the execution of an agreement with FirstService Residential Texas PID, LLC, in the amount of $176,705.00 to provide management of the improvements and services for the Park Glen Public Improvement District during Fiscal Year 2026-2027; and 5. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District 6 - Park Glen fund in the amount of $2,908,065.00, of which (1) $2,473,647.00 is from available funds and (2) $434,418.00 is from available unreserved fund balance. DISCUSSION On September 22, 1998, the City Council adopted Resolution No. 2453 establishing Fort Worth Public Improvement District 6 - Park Glen (Park Glen PID). The purpose of this benefit hearing is to receive comments from the public regarding the Fiscal Year 2026-2027 budget and five-year service plan for the Park Glen PID and the proposed assessments to be levied on each property in the Park Glen PID for the 2026 tax year. Following the public hearing, it is recommended that the City Council take the following actions: adopt the attached ordinances (1) approving and adopting the budget, five-year service plan, assessment plan, and assessment roll; (2) levying the proposed assessments; and (3) appropriating funds. The improvements and services to be provided in the Park Glen PID during the Fiscal Year 2026-2027 and the costs thereof are as follows: Fiscal Year 2027 Budget Improvements Total Budgeted Cost City Administrative Fee $49,473.00 Management Fee 176,705.00 Capital Improvements 210,000.00 Common Area Maintenance 183,000.00 Communications 28,000.00 Holiday Decoration 55,000.00 Public Events 70,400.00 Security Enhancements 285,400.00 Utilities 232,000.00 Audit & Compliance 13,850.00 Total Expense $ 2,908,065.00 The total budgeted costs of the improvements and services are in the amount of $2,908,065.00. Of this amount, $2,108,700.00 will be funded by assessments collected on privately owned parcels located in the Park Glen PID by applying a rate of $0.155 to each $100.00 of property value for residential property and $0.035 to each $100.00 of property 2 of 3 FORT WORTH„ value for commercial property. The remainder of the costs in the amount of $799,365.00 will be funded by other revenue sources including: (a) $357,162.00 in direct payments from the City for payment in lieu of services (b) $7,785.00 in direct payment from the City for payment in lieu of assessments, which are calculated at the same rate as privately -owned parcels and (c) $434,418.00 transferred from the unaudited, unassigned fund balance. On August 25, 2026, the City Council conducted a public hearing to receive comments on the proposed Fiscal Year 2026-2027 budget, five-year service plan, and 2026 assessment for the Park Glen PID. Notice of the August 25, 2026, benefit hearing and this hearing were published in the Fort Worth Star - Telegram and mailed to all owners of property on record and liable for assessment within the Park Glen PID on August 14, 2026, in accordance with state law. Included within those notices was a draft of the Fiscal Year 2026-2027 budget of $2,908,065.00. The informal Park Glen Advisory Board recommended approval of the budget. Funding will be budgeted within the FWPID #6 - Park Glen Fund for Fiscal Year 2027. The Park Glen PID is located in COUNCIL DISTRICT 4. This contract requires a Form 1295. FISCAL INFORMATION/ CERTIFICATION The Director of Finance certifies that funds are currently available from fund balance within the PID #6 - Park Glen Fund and upon approval of the above recommendations and adoption of the attached appropriation ordinance, funds will be available in the PID #6 - Park Glen Fund as appropriated. Prior to an expenditure being incurred, the FWLab Department has the responsibility of verifying the availability of funds. SUBMITTED FOR CITY MANAGER'S OFFICE BY: Christianne Simmons, # 6222 ORIGINATING BUSINESS UNIT HEAD: Christianne Simmons, # 6222 ADDITIONAL INFORMATION CONTACT: Brady Kirk, # 8712 ATTACHMENTS 1. PID 06 F Y 27 SA Pv FINA L 3 [12.4.4 - 4 pages] 2. PID 06 Ortho Map [12.4.5 - 1 page] 3. 03PID06 FY27 AO [12.4.6 - 2 pages] 4. PID06 SAP and Assessment Ordinance FY27 [12.4.7 - 9 pages] 3 of 3