HomeMy WebLinkAbout26-28653 - City Council - OrdinanceC0 9 0 1 `rRece W11 .,M11"
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE PARD DEDICATION FEES FUND IN THE AMOUNT
OF $500,000.00, FROM INTEREST EARNINGS WITHIN THE UNSPECIFIED -ALL
FUNDS PROJECT (CITY PROJECT NO. UNSPEC), FOR THE PURPOSE OF
FUNDING PRE -ACQUISITION EXPENSES FOR REAL ESTATE ACQUISITIONS
FOR THE PARD NEW ENHANCEMENTS PROGRAMMABLE PROJECT (CITY
PROJECT NO. P00132); 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 2025-2026 in
the Budget of the City Manager, there shall also be increased estimated appropriations in the PARD
Dedication Fees Fund in the amount of $500,000.00, from Interest Earnings within the Unspecified -All
Funds project (City Project No. UNSPEC), for the purpose of funding pre -acquisition expenses for real
estate acquisitions for the PARD New Enhancements programmable project (City Project No. P00132).
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said prior ordinances and appropriations are hereby expressly repealed.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.
APPROVED AS TO FORM AND LEGALITY:
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Jannette S. Goodall o ��C°°°°°°°T
Assistant City Attorney City Secretary 4o °
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ADOPTED: August 11.2026 ° °
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EFFECTIVE: August 11. 2026 .4 nEX A°SaAo
Ordinance No. 26-28653
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FORT WORTH®
MAYOR AND COUNCIL COMMUNICATION
7.1.28 PARD PRE -ACQUISITION FUNDS
DATE: 08/11/26 M&C FILE NUMBER: M&C 26-0598
DEPARTMENT: PARK AND RECREATION
SUBJECT
(ALL) Adopt Appropriation Ordinance in the Amount of $500,000.00 to Fund Pre -Acquisition
Expenses for Park Real Estate Transactions and Amend the Fiscal Years 2026-2030 Capital
Improvement Program
RECOMMENDATION
It is recommended that the City Council:
1. Adopt the attached appropriation ordinance increasing estimated receipts and
appropriations in the PARD Dedication Fees Fund in the amount of $500,000.00, from
Interest Earnings within the Unspecified -All Funds project (City Project No. UNSPEC), for
the purpose of funding pre -acquisition expenses for park real estate acquisitions for
the PARD New Enhancements programmable project (City Project No. P00132), to
provide additional funding for the PARD Pre -Acquisition project; and
2. Amend the Fiscal Years 2026-2030 Capital Improvement Program.
DISCUSSION
The purpose of this Mayor and Council Communication (M&C) is to seek approval to
provide funding for pre -acquisition expenses encountered with real estate transactions.
The provision of pre -acquisition funding is a proactive effort to enable staff to respond to
market timing, make informed decisions, and allow the city to negotiate or terminate a
transaction if significant issues are uncovered.
Pre -acquisition due diligence is the comprehensive investigation and research activities
that occur during the window of time leading up to the purchase offer and legal transfer
of the property. This process often includes, but is not limited to, a site
assessment/investigation, fair market value appraisal, title search, and professional
inspections that are essential in uncovering hidden risks and liabilities before finalizing
real estate transactions.
Funding for this activity was not included in the FY2026-2030 Capital Improvement Program
due to the unpredictability of parkland acquisitions. The action in this M&C will amend the
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FORT WORTH®
FY2026-2030 Capital Improvement Program, as approved, in connection with Ordinance
27979-09-2025.
Funding is available in the Unspecified -All Funds project within the PARR Dedication Fees
Fund for the Park & Recreation Department for the purpose of funding the PARD Pre -
Acquisition project.
This M&C does not request approval of a contract with a business entity.
FISCAL IN FOR MATION/CERTIFICATION
The Director of Finance certifies that funds are currently available in the UNSPECIFIED - ALL
FUNDS project within the PARD Dedication Fees Fund and upon approval of the above
recommendations and adoption of the attached appropriation ordinance, funds will be
available in the PARD Dedication Fees Fund for the PARR Pre -Acquisition project.
Prior to an expenditure being incurred, the Park & Recreation Department has the
responsibility of verifying the availability of funds.
SUBMITTED FOR CITY MANAGER'S OFFICE BY: Dana Burghdoff, # 8018
ORIGINATING BUSINESS UNIT HEAD: Teresa Thomason, #5708
ADDITIONAL INFORMATION CONTACT: Joel McElhany, #5745
ATTACHMENTS
1. PARD Pre Acquisition Funds AO R1 [7.1.28.1 - 2 pages]
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