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Home My WebLink About26-28810 - City Council - OrdinanceORDINANCE 26-28810 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. 23 - PANTHER ISLAND; LEVYING ASSESSMENTS FOR THE COST OF CERTAIN IMPROVEMENTS AND SERVICES PROVIDED IN FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO. 23 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 February 24, 2026, the City Council of the City of Fort Worth ("City Council") authorized the establishment of Public Improvement District No. 23 — Panther Island ("District"), as a public improvement district in accordance with the Act and Resolution No. 6271- 02-2026, 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"); Ordinance No. 28-28810 Page 1 of 9 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 26-0927); 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, during the City Council meeting 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: $0.02 per each $100 of value for property subject to assessment. As it concerns any City -owned property within the District, the City will contribute a payment - Ordinance No. 28-28810 Page 2 of 9 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 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. Ordinance No. 28-28810 Page 3 of 9 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: G/ `�Clitl� By: Assistant City Attorney ADOPTED: September 15, 2026 EFFECTIVE: September 15, 2026 A Jannette S. Goodall, City Secretary d OR27 O OOOOOOOOoO4 OO ° ° 0 ° 4 OO °° 1EXA o��p Ordinance No. 28-28810 Page 4 of 9 EXHIBIT A MAP OF THE DISTRICT • I t , 'ii r.•. -_. • • j r J •,1I Panther • Island PID j!l- 4 v 1 • 4' 1 1•� • -•• . • c4f • '� - -►ate ' • '� � .vc:: $ ' Ordinance No. 28-28810 Page 5 of 9 EXHIBIT B SERVICE AND ASSESSMENT PLAN SERVICE PLAN City of Fort Worth Service and Assessment Plan Public Improvement District No. 23 - Panther Island FY27 FY28 FY29 FY30 REVENUES PIDAssessments $ 20.544 $ 54,752 S 54,752 $ 354,284 COFW Assessments 80 83 87 91 TRWD Assessments 124,695 130,930 137,476 144.350 Tarrant County Assessments 787 811 851 894 Tarrant County College Assessments 15,490 15,955 16.753 17,590 COFW PaymentIn-Lieu of Services - 80.000 84.000 88,200 PID Generated Revenue - 50.000 52,500 55,125 Total Budgeted Revenues $ 161,597 S 332,530 S 346,419 S 660.534 Use of Fund Baianee $ 55,470 S - S - $ - Total Revenues $ 217.067 S 332,530 S 346,419 S 660.534 EXPENSES City Administrative Fee 3.232 6,651 6.928 13,211 Management Fee - - - - Capital Improvements - - - 50,000 Operations and Maintenance 50,000 50.000 50.000 100,000 Landscaping - 140,000 140.000 200,000 Security Enhancements 50.000 50,000 50.000 52.500 Marketing 60,000 15,000 15.000 30,000 Public Events 50.000 52.500 52.500 100.000 Utilities - 9.000 9,000 9,450 Audit and Compliance 3,835 4,027 4,228 4,439 Total Budgeted Expenses S 217.067 S 327.177 S 327.656 S 559.600 Contribution to Fund Balance $ - S 5.352 $ 18,762 S 100.934 Total Expense $ 217,067 S 332,530 S 346,419 S 660.534 Net Change in Fund Balance $ (55.470) S 5.352 S 18.762 S 100.934 Estimated Fund Balance. Beginning of Year $ 124,103 S 68,633 S 73.985 $ 92,747 Estimated Fund Balance, End of Year 68,633 73.985 92,747 193,681 Reserve Requirement 54,540 54,620 93.285 123.058 Over (Under) Reserve $ 14092 S 19,365 S (538) S 70,624 • FY2027 Assessment Rate = 5.02 Private/ 5.0165 Voluntary Fiscal Year 2026-2027 Budget FY31 S 527.888 96 151,568 938 18.470 92.610 57.881 S 849.451 $ S 849.451 16.989 100.000 100.000 105.000 210.000 55.125 31.500 105.000 9.923 4.661 S 738.198 $ 111.253 $ 849.451 S 111.253 $ 193.681 304.934 123.058 S 181,876 Ordinance No. 28-28810 Page 6 of 9 The total budgeted costs of the improvements and services for the District for fiscal year 2026-2027 are $217,067.00. Of this amount, $20,544.00 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: • $80.00 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; • $140,972.00 in voluntary contributions; and • $55,470.00 transferred from the unaudited, unassigned fund balance. ASSESSMENT PLAN Ordinance No. 28-28810 Page 7 of 9 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. No annual assessment during the term of the District will exceed $0.165 per $100 of appraised value of real property and improvements, unless otherwise approved by law. 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: $0.02 per each $100 of value for property 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. 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. Payment of assessments by other exempt jurisdictions must be established by contract. NOTICE OF OBLIGATION TO PAY IMPROVEMENT DISTRICT ASSESSMENT Ordinance No. 28-28810 Page 8 of 9 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. 23 - Panther Island (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 No. 28-28810 Page 9 of 9 EXHIBIT B "MAP OF BOUNDARY" k .11g $ r ifi /\ O Ff,�.. M n ' y I tiJ b 4v............ GYP' fir: '1 ,,,T ii:1 Legend 0 N PID Boundary Assessed Properties Panther Island PID f 0.13 0.25 0.5 Miles I I I I I I I l FORT WORTH® Source: Economic Development Date: October 2024 City of Fort Worth Service and Assessment Plan Public Improvement District No. 23 - Panther Island FY 27 FY 28 FY 29 FY 30 FY 31 REVENUES PID Assessments $ 20,544 $ 54,752 $ 54,752 $ 354,284 $ 527,888 COFW Assessments 80 83 87 91 96 TRWD Assessments 124,695 130,930 137,476 144,350 151,568 Tarrant County Assessments 787 811 851 894 938 Tarrant County College Assessments 15,490 15,955 16,753 17,590 18,470 COFW Payment In -Lieu of Services - 80,000 84,000 88,200 92,610 PID Generated Revenue - 50,000 52,500 55,125 57,881 Total Budgeted Revenues $ 161,597 $ 332,530 $ 346,419 $ 660,534 $ 849,451 Use of Fund Balance $ 55,470 $ - $ - $ - $ - Total Revenues $ 217,067 $ 332,530 $ 346,419 $ 660,534 $ 849,451 EXPENSES City Administrative Fee 3,232 6,651 6,928 13,211 16,989 Management Fee - - - - 100,000 Capital Improvements - - - 50,000 100,000 Operations and Maintenance 50,000 50,000 50,000 100,000 105,000 Landscaping - 140,000 140,000 200,000 210,000 Security Enhancements 50,000 50,000 50,000 52,500 55,125 Marketing 60,000 15,000 15,000 30,000 31,500 Public Events 50,000 52,500 52,500 100,000 105,000 Utilities - 9,000 9,000 9,450 9,923 Audit and Compliance 3,835 4,027 4,228 4,439 4,661 Total Budgeted Expenses $ 217,067 $ 327,177 $ 327,656 $ 559,600 $ 738,198 Contribution to Fund Balance $ - $ 5,352 $ 18,762 $ 100,934 $ 111,253 Total Expense $ 217,067 $ 332,530 $ 346,419 $ 660,534 $ 849,451 Net Change in Fund Balance $ (55,470) $ 5,352 $ 18,762 $ 100,934 $ 111,253 Estimated Fund Balance, Beginning of Year $ 124,103 $ 68,633 $ 73,985 $ 92,747 $ 193,681 Estimated Fund Balance, End of Year 68,633 73,985 92,747 193,681 304,934 Reserve Requirement 54,540 54,620 93,285 123,058 123,058 Over (Under) Reserve $ 14,092 $ 19,365 $ (538) $ 70,624 $ 181,876 *FY2027 Assessment Rate = $.02 Private/ $.165 Voluntary City of Fort Worth Budget Narrative Public Improvement District No. 23 - Panther Island Revenue/Other Comments The petition limits the assessment rate to 2 cents unless the Tarrant Regional Water District Board has authorized contracts for the construction of Canal Phase I. This authorization is not anticipated until after adoption of the FY2027 assessment rate. Future years anticipate 5 cents until FY2030 when the rate of 16.5 cents and $100m in additional development are anticipated. The voluntary tax-exempt participants are already contributing at the rate of 16.5 cents. Management Fee Tarrant Regional Water District, as the PID Manager, is foregoing a management fee and providing in -kind support until sufficient revenue is generated to support the expense. Capital Improvements Capital improvements are anticipated in later years when the district begins generating more funds. Improvements may include park and streetscape enhancements. Operations and Maintenance In the near -term during construction, funds will enhance the Community by providing litter and graffiti abatement and other operational support to enhance the safety and aesthetic of the island during its transformation. Following construction of the Phase I infrastructure, funds will be further directed to maintaining the paseos and streetscape areas. Landscaping The installation of extensive landscaping in the Phase I paseo and park will occur during FY2027, necessitating maintenance beginning in FY2028. In addition, as resources permit, the PID may take on maintenance responsibilities in the roundabout from the City with correlating payments -in-lieu of services from the City in FY2028. Security Enhancements Improvements that promote safety and security with the District will be provided as construction advances, and may include security lighting, camera installation, additional security patrols, safety technologies, street calming measures and capital improvements to improve pedestrian, bike, and transit shelter safety. City of Fort Worth Budget Narrative Marketing A branding and marketing firm has been engaged to develop branding, a website, and advertising/social media strategies to: 1.6onvey the vision and opportunities of Panther Island to potential developers and current landowners; 2.Communicate the planning, progress, and decisions of the Public Improvement District; and, 3.5hare news of construction progress, events, and announcements of new private development. This will be a critical component to advance the delivery of Vision 2.0 through private development. The key initiatives to be accomplished in FY2027 are the delivery of a new logo and brand strategy as depicted on a high - quality, professional website and other collateral materials. In addition, they will support marketing of activation strategies to garner attention and interest in the progress of development. Public Events An activation consultant has been engaged by TRWD to develop a calendar of events with associated partners to draw people to the island and enhance the community engagement. While TRWD has funded the strategy development, delivery of events and temporary installations will be funded by the PID and in -kind support of TRWD operations. In addition, groundbreaking events with the commencement of significant infrastructure investments by TRWD and the City will be hosted to celebrate this significant milestone. Utilities Beginning in FY2028, it is anticipated that utilities for the Phase I Canal and Park will shift to the PID. Audit and 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 b. $2,000.00 Trial Balance Report YTD As Of July 31, 2026 28523 - FWPID #23 Panther Island Doled Cash In Fund Doled Cash In Fund ontributions From Others 0034000 ther Contractual Services 0034000 ther Contractual Services 0036050 /Net Position Calculation 10100 Asset Sub Total Revenue Sub Total Expense Sub Total Grand Total Fund Balance $0.00 $0.00 ($124,103.00) $75.05 ($124,027.95) Fiscal Year: Period Runtime Report ID: $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 8/25/2026 4 :tion H, )30-OOTri a l Ba l a n ce_S u m UALS,FUNDADJ,GASB34 :tion Trial Balance Report YTD As Of July 31, 2026 28523 - FWPID #23 Panther Island Fiscal Year: Period Runtime 8/25/2026 4 Report ID: FORT WORTH. MAYOR AND COUNCIL COMMUNICATION 12.13 PID23 FY27 DATE: 09/15/26 M&C FILE M&C 26-0940 NUMBER: DEPARTMENT: FWLAB SUBJECT (CD 2 and CD 9) Conduct Public Benefit Hearing for Fort Worth Public Improvement District 23 - Panther Island; 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 $0.02 Per Each $100.00 of Property Value; Authorize Execution of an Agreement with Tarrant Regional Water District 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 23 - Panther Island for the 2026 tax year; 2. Adopt the attached ordinance (1) approving and adopting the Fiscal Year 2026-2027 budget in the amount of $217,067.00, five-year service plan, assessment plan, and tax year 2026 assessment roll (on file with the City Secretary) for the Panther Island Public Improvement District; and (2) levying special assessments on privately -owned property located in the Panther Island Public Improvement District for the 2026 tax year at a rate of $0.02 per each $100.00 of property value (Service and Assessment Plan and Assessment Ordinance); 3. Direct the City Secretary to record a copy of the Service and 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; 4. Authorize the execution of an agreement with Tarrant Regional Water District to provide management of the improvements and services for the Panther Island 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 23 - Panther Island Fund in 1 of 3 FORT WORTH„ the amount of $217,067.00 of which (1) $161,597.00 is from available funds and (2) $55,470.00 is from available unreserved fund balance. DISCUSSION On February 24, 2026, the Mayor and City Council adopted Resolution No. 6271-02-2026 establishing Fort Worth Public Improvement District 23 - Panther Island (Panther Island 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 Panther Island PID and the proposed assessments to be levied on each property in the Panther Island 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 Panther Island PID during fiscal year 2027 and the costs thereof are as follows: Fiscal Year 2027 Budget Improvements City Administrative Fee Management Fee Operations and Maintenance Security Enhancements Marketing Public Events Audit and Compliance Total Expense Total Budgeted Cost $3,232.00 0.00 50,000.00 50,000.00 60,000.00 50,000.00 3,835.00 $ 217,067.00 The total budgeted costs of the improvements and services are $217,067.00. Of this amount, $20,544.00 will be funded by assessments collected on privately -owned parcels located in the Panther Island PID by applying a rate of $0.02. The remainder of the costs in the amount of $196,523.00 will be funded by other revenue sources including: (a) $80.00 in direct payments from the City for payment in lieu of assessments, which are calculated at the same rate as the privately -owned parcels, (b) $140,972.00 in voluntary contributions, and (c) $55,471.00 is from available unreserved fund balance. 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 Panther Island 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 2 of 3 FORT WORTH. the Panther Island PID on August 14, 2026, in accordance with state law. The Panther Island PID Advisory Board recommended approval of the budget. Funding will be budgeted within the FWPID #23 Panther Island Fund for Fiscal Year 2027. The Panther Island PID is located in COUNCIL DISTRICTS 2 and 9. This contract will be with a governmental entity, state agency or public institution of higher education, therefore a Form 1295 is not required. 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 #23 Panther Island Fund. Prior to an expenditure being incurred, the FWLab Department 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 23 SAP and Assessment Ordinance FY27 [12.13.1 - 10 pages] 2. 03PID23 FY27 AO [12.13.3 - 1 page] 3. Panther Island PID [12.13.5 - 1 page] 4. PID 23 F Y 27 SA Pv FINA L 2 [12.13.6 - 3 pages] 5. TB PID 23 [12.13.7 - 2 pages] 3 of 3