HomeMy WebLinkAbout26-28811 - City Council - OrdinanceORDINANCE 26-28811
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE FORT WORTH PUBLIC IMPROVEMENT
DISTRICT 23 - PANTHER ISLAND FUND IN 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; PROVIDING FOR A
SEVERABILITY CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF
PRIOR ORDINANCES; REPEALING ALL ORDINANCES IN CONFLICT
HEREWITH; AND PROVIDING AN EFFECTIVE DATE.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH, TEXAS THAT:
SECTION 1.
In addition to those amounts allocated to the various City departments for Fiscal Year 2026-2027 in
the Budget of the City Manager, there shall also be increased estimated appropriations in the Fort Worth
Public Improvement District 23 - Panther Island Fund in 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.
SECTION 2.
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 said remaining provisions
shall be and remain in full force and effect.
SECTION 3.
This ordinance shall be cumulative of Ordinance 27979-09-2025 and 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of said prior ordinances and appropriations are hereby expressly repealed.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 4.
This ordinance shall take effect upon adoption.
n ooa OV n NS TO FORM AND LEGALITY:
Assistant City Attorney
ADOPTED: September 15.2026
EFFECTIVE: September 15, 2026
Jannette S. Goodall
City Secretary
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Ordinance No. 26-28811
Page 1 of 1
EXHIBIT B "MAP OF BOUNDARY"
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N PID Boundary
Assessed Properties
Panther
Island PID
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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
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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
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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]
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