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HomeMy WebLinkAbout26-28794 - City Council - OrdinanceC� '71 1 `[�[�J►► :�L'l 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.7- - HERITAGE; LEVYING ASSESSMENTS FOR THE COST OF CERTAIN IMPROVEMENTS AND SERVICES PROVIDED IN FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO.7 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 26, 2000, the City Council of the City of Fort Worth ("City Council") authorized the establishment of Public Improvement District No. 7 — Heritage ("District"), as a public improvement district in accordance with the Act and Resolution No. 2675, 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 ORDINANCE 26-28794 Page 1 of 11 a public hearing conducted by the City Council on August 25, 2026 (M&C 26-0913); and 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, finds 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 finds 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 finds that the apportionment of the cost of the improvements is in accordance with applicable law. The City Council, from the evidence, further finds 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: $0.145 per each $100.00 of valuation for residential properties and $0.145 per each $100.00 of valuation for commercial properties subject to assessment. As it concerns ORDINANCE 26-28794 Page 2 of!! 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. 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 ORDINANCE 26-28794 Page 3 of 11 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 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 15.202 EFFECTIVE: September 15. 2026 Jannette S. Goodall, O*tooOOO�oo City Secretary 0 VO OO�� O O oOOOO� ���ti nEXAs-o�� ORDINANCE 26-28794 Page 4 of 11 EXHIBIT A MAP OF THE DISTRICT ORDINANCE 26-28794 Page 5 of 11 FORT WORTH PID 7: Heritage Dote c a2O2O ardDataMah/ti — CCopyngnt 2020 Cny of Fort Worth UnautfsorueA,.Fon s vwtmonof pploatWlwt Tint productnton of nnoononot purposes ante not hoe hem prepared ton on be wrtahle for legal. mane+ or Itdoesrotrepreoon anon-_ne-grant whey antrepreznts only tM app nnnnote tenant. bcafion or property bonMos The COy of Fort Worth oowneo m resporr-bOdy for tt» xcvrxy U sand prta 0 1,250 2,500 5.000 Feet N I I I I I I I I ORDINANCE 26-28794 Page 6 of 11 EXHIBIT B SERVICE AND ASSESSMENT PLAN SERVICE PLAN FY 27 REVENUES PID Assessments $ 2,013,117 COFW Assessments 23.900 COFW Payment In -Lieu of Services 274,050 PID Generated Revenue 1.050 Total Budgeted Revenues $ 2,312,117 Use of Fund Balance $ 168.483 Total Revenues $ 2,480,600 EXPENSES City Adrnunstrative Fee 46,242 Management Fee 192.205 Association Employee 68.694 Landscaping 1,059.527 Common Area Maintenance 140,806 Security 102,173 Utilities 283.850 Captial Improvements 484.420 Public Events 92.000 Audit & Compliance 10.6831 Total Budgeted Expenses $ 2,480,600 Contribution to Fund Balance $ Total Expense S 2,480.600 Net Change in Fund Balance S (168,483) Estimated Fund Balance, Beginning of Year S 754.669 Estimated Fund Balance. End of Year 586,186 Reserve Requirement 415.715 Over (Under) Reserve S 170,471 FY2027 Assessment Rate • $.145 Residential/ S.145 Commercial City of Fort Wonh Service and Assessment Plan Public Improvement District No. 7 - Heritage FY28 FY29 FY30 FY31 $ 2,037,114 S 2,125,850 $ 2.243.204 $ 2.389.343 20.707 20.707 20,707 20.707 282,272 290.740 299,462 308.446 1.050 1,050 1,050 1.050 $ 2.341.143 $ 2.438.347 $ 2.564.423 $ 2.719.546 $ 152.650 S - $ 56,057 $ - $ 2.493.793 S 2,438,347 $ 2.620,480 $ 2.719.546 46.823 48.767 51,288 54.391 197.971 199.951 201,950 203.970 70,755 71.462 72,177 72.899 1.060,000 1.090.000 1.120.000 1.150.000 144.000 145.000 250,000 300.000 104.216 105.259 106,311 107.374 283.500 286.335 289,198 292.090 483.846 139.460 425.025 350.000 92.000 92,920 93,849 94.788 10.682 10.681 10,680 10.679 S 2.493.793 $ 2,189.835 $ 2,620,480 S 2,636.191 $ c 248.512 S - S 4135. $ 2,493.793 S 2,438,347 $ 2.620,480 S 2.719,546 S (152.650) S 248.512 S (56,057) S 83.355 5 586.186 S 433,536 S 682,047 $ 625.991 433.536 682.047 625,991 709.346 365.045 436.834 439,453 439.453 $ 68.490 S 245,213 $ 186.538 $ 269.893 ORDINANCE 26-28794 Page 7 of 11 Fiscal Year 2026-2027 Budget The total budgeted costs of the improvements and services for the District for fiscal year 2026-2027 are $2,480,600.00. Of this amount, $2,013,117.00 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: • $274,050.00 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; • $23,900.00 in direct payment from the City for payment in lieu of assessments; • $1,050.00 in revenues generated by Heritage PID activities; and • $168,483.00 transferred from the unaudited, unassigned fund balance. ORDINANCE 26-28794 Page 8 of!! ASSESSMENT PLAN 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: $0.145 per each $100 of value for residential property in the District and $0.145 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. ORDINANCE 26-28794 Page 9 of 11 NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT TO THE CITY OF FORT WORTH, TEXAS 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. 7 — Heritage (the "District") created under Subchapter A, Chapter 372, 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 26-28794 Page 10 of 11 FY 27 REVENUES PID Assessments $ 2,013,117 COFW Assessments 23,900 COFW Payment In -Lieu of Services 274,050 PID Generated Revenue 1,050 Total Budgeted Revenues $ 2,312,117 Use of Fund Balance $ 168,483 Total Revenues $ 2,480,600 EXPENSES City Administrative Fee 46,242 Management Fee 192,205 Association Employee 68,694 Landscaping 1,059,527 Common Area Maintenance 140,806 Security 102,173 Utitilies 283,850 Captial Improvements 484,420 Public Events 92,000 Audit & Compliance 10,683 Total Budgeted Expenses $ 2,480,600 Contribution to Fund Balance $ - Total Expense $ 2,480,600 Net Change in Fund Balance $ (168,483) Estimated Fund Balance, Beginning of Year $ 754,669 Estimated Fund Balance, End of Year 586,186 Reserve Requirement 415,715 Over (Under) Reserve $ 170,471 City of Fort Worth Service and Assessment Plan Public Improvement District No. 7 - Heritage FY 28 FY 29 FY 30 FY 31 $ 2,037,114 $ 2,125,850 $ 2,243,204 $ 2,389,343 20,707 20,707 20,707 20,707 282,272 290,740 299,462 308,446 1,050 1,050 1,050 1,050 $ 2,341,143 $ 2,438,347 $ 2,564,423 $ 2,719,546 $ 152,650 $ - $ 56,057 $ - $ 2,493,793 $ 2,438,347 $ 2,620,480 $ 2,719,546 46,823 48,767 51,288 54,391 197,971 199,951 201,950 203,970 70,755 71,462 72,177 72,899 1,060,000 1,090,000 1,120, 000 1,150, 000 144,000 145,000 250,000 300,000 104,216 105,259 106,311 107,374 283,500 286,335 289,198 292,090 483,846 139,460 425,025 350,000 92,000 92,920 93,849 94,788 10,682 10,681 10,680 10,679 $ 2,493,793 $ 2,189,835 $ 2,620,480 $ 2,636,191 $ - $ 248,512 $ - $ 83,355 $ 2,493,793 $ 2,438,347 $ 2,620,480 $ 2,719,546 $ (152,650) $ 248,512 $ (56,057) $ 83,355 $ 586,186 $ 433,536 $ 682,047 $ 625,991 433,536 682,047 625,991 709,346 365,045 436,834 439,453 439,453 $ 68,490 $ 245,213 $ 186,538 $ 269,893 *FY2027 Assessment Rate = $.145 Residential/ $.145 Commercial City of Fort Worth Budget Narrative Public Improvement District No. 7- Heritage City Administrative Fee As outlined in the City of Fort Worth PID Policy, City will charge a fee to each 0-PID for the annual costs associated with administering the O-PID. This fee will be calculated annually for each 0-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 Management Fee Provides professional management services including financial administration, contract oversight, project management, vendor coordination, meeting administration, communications, website management, and coordination with City staff. These services support efficient district operations, implementation of the Service Plan, and compliance with City requirements. Association Employee Funds field operations staff dedicated to supporting inspections, maintenance oversight, vendor coordination, project monitoring, work order response, and operational support throughout the district. These positions enhance service responsiveness and assist in maintaining public eligible properties and eligible HOA-maintained properties within Heritage PID No. 7 boundaries. Landscaping Supports landscape maintenance, irrigation management, tree care, seasonal color enhancements, landscape repairs, replacement of plant materials, environmental compliance activities, and landscape enhancement projects throughout the district. Funding also includes the annual TreePlotter software subscription utilized for tree inventory management, maintenance planning, and long-term asset management. These services enhance community appearance, public safety, and preservation of landscaped areas within Heritage PID No. 7. Common Area Maintenance Provides funding for maintenance and repair of lakes, fountains, lighting, fencing, walls, monuments, street signs, holiday decor, and other common area improvements. These services support infrastructure preservation, public safety, community appearance, and long-term maintenance of public eligible properties and eligible HOA- maintained properties within Heritage PID No. 7. Security Supports public safety initiatives through off -duty police patrols, mileage reimbursement, and Flock Safety License Plate Recognition cameras. These programs assist law enforcement, deter criminal activity, support investigations, and promote a safe environment for residents and visitors throughout the district. Utitilies Funds electric, water, and communication services necessary to support irrigation systems, monument lighting, common area infrastructure, and operational coordination. Reliable utility services are essential to maintaining district improvements, irrigation systems, and landscaped areas throughout Heritage PID No. 7. City of Fort Worth Budget Narrative Captial Improvements Supports long-term infrastructure preservation and enhancement projects identified through the district's Five - Year Service Plan. Planned investments include the Exposition Way Slope Stabilization Project and Keating St. retaining wall reconstruction. These improvements are intended to improve safety, functionality, appearance, and long-term sustainability throughout the district while protecting public and eligible HOA-maintained improvements located within PID boundaries. Public Events Provides funding for community events, event deposits, and related programming that encourage resident participation, strengthen community identity, and enhance quality of life within Heritage PID No. 7. Planned events include Freedom Fest, Winter Wonderland, the annual Fishing Event, and other approved community programming designed to foster community engagement, neighborhood pride, and positive interaction among residents. Audit & Compliance Provides funding for the annual independent financial audit, state compliance filings, required public notices, assessment administration services, and district website hosting. These services support financial transparency, regulatory compliance, property owner communications, assessment collection, and overall administration of the district. Kingsridge West Kingsridg Sunset Crawford Hills ., Farms HER,,. cF 9c F I I III j f I I North JI / Ninnie Baird Arcadia Trail North PID7: 7: Heritage Coventry Hills Vie yards of Heritage FORT WORTH© Source: Planning and Data Analytics Date: July 2020 OCopyright 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 1,250 2,500 5,000 Feet N I I I I I I I FORT WORTH. MAYOR AND COUNCIL COMMUNICATION 12.5 PID07 FY27 DATE: 09/15/26 M&C FILE M&C 26-0918 NUMBER: DEPARTMENT: FWLAB SUBJECT (CD 4 and CD 10) Conduct Public Benefit Hearing for Fort Worth Public Improvement District 7 - Heritage; Adopt the Attached 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 $0.145 Per Each $100.00 of Residential Property Value and $0.145 Per Each $100.00 of Commercial Property Value; Authorize Execution of Agreement with Castle Group Texas, LLC, in the Amount of $192,205.00 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 7 - Heritage for the 2026 tax year; 2. Adopt the attached ordinance (1) approving and adopting the fiscal year 2026-2027 budget in the amount of $2,480,600.00, five-year service plan, assessment plan, and tax year 2026 assessment roll (on file with the City Secretary) for the Heritage Public Improvement District; and (2) levying special assessments on privately -owned property located in the Heritage Public Improvement District for the 2026 tax year at the rates of $0.145 per each $100.00 of residential property value and $0.145 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 Castle Group Texas, LLC, in the amount of $192,205.00 to provide management of the improvements and services for the Heritage Public Improvement District during Fiscal Year 2026-2027, including Eligible Locations map and associated eligibility requirements; and 5. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Fort Worth Public Improvement District 7 - Heritage Fund in the amount of $2,480,600.00, of which (1) $2,312,117.00 is from available funds and (2) $168,483.00 is from available unreserved fund balance. DISCUSSION On September 26, 2000, the City Council adopted Resolution No. 2675 establishing Fort Worth Public Improvement District No. 7 - Heritage (Heritage 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 Heritage PID and the proposed assessments to be levied on each privately -owned property in the Heritage 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 Heritage 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 $46,242.00 Management Fee 192,205.00 Association Employee 68,694.00 Landscaping 1,059,527.00 Common Area Maintenance 140,806.00 Security 102,173.00 Utilities 283,850.00 Capital Improvements 484,420.00 Public Events 92,000.00 Audit & Compliance 10,683.00 Total Expense $2,480,600.00 The total budgeted costs of the improvements are in the amount of $2,480,600.00. Of this amount, $2,013,117.00 will be funded by assessments collected on privately owned parcels 2 of 3 FORT WORTH. located in the Heritage PID by applying a rate of $0.145 per each $100.00 of property value for residential property and $0.145 per each $100.00 of property value for commercial property, representing an increase of two cents over the prior year. The remainder of the costs in the amount of $467,483.00 will be funded by other revenue sources including: (a) $274,050.00 in direct payments from the City for payment in lieu of services (b) $23,900.00 in direct payment from the City for payment in lieu of assessments, which are calculated at the same rate as privately -owned parcels (c) $168,483.00 transferred from the unaudited, unassigned fund balance, and (d) $1,050.00 in revenues generated by Heritage PID activities. On August 25, 2026, the City Council conducted a public hearing to receive comments on the proposed 2026-2027 Fiscal Year Budget, Five -Year Service Plan, and 2026 Assessments for the Heritage 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 in the Heritage PID on August 14, 2026, in accordance with state law. Funding will be budgeted within the FWPID #7 - Heritage Fund for Fiscal Year 2027. The Heritage PID is located in COUNCIL DISTRICTS 4 & 10. This contract requires a Form 1295. FISCAL INFORMATION/ CERTIFICATION The Director of Finance certifies that upon approval of the above recommendations and adoption of the Fiscal Year 2027 Budget by the City Council, funds will be available in the Fiscal Year 2027 operating budget, as appropriated, in the FWPID #7 - Heritage Fund. Prior to an expenditure being incurred, the FWLab has the responsibility to validate 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 07 F Y 27 SAP DRAF Tv FINAL [12.5.2 - 3 pages] 2. PID 07 Ortho Map [12.5.3 - 1 page] 3. PID 07 SAP and Assessment Ordinance FY27 [12.5.5 - 10 pages] 4. 03PID07 FY27 AO [12.5.6 - 2 pages] 3 of 3