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Home My WebLink AboutOrdinance 21432-09-2014 Ordinance No. 21432-09-2014 AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE PUBLIC IMPROVEMENT DISTRICT I FISCAL YEAR 2014-2015 PROJECT ACCOUNT OF THE SPECIAL ASSESSMENT DISTRICT FUND IN THE AMOUNT OF $2,088,356.00, FROM AVAILABLE FUNDS, CONTINGENT UPON THE ADOPTION OF THE ORDINANCE LEVYING SPECIAL ASSESSMENTS FOR THE 2014 TAX YEAR, FOR THE PURPOSE OF PROVIDING MANAGEMENT AND IMPROVEMENT SERVICES FOR THE DOWNTOWN PUBLIC IMPROVEMENT DISTRICT DURING FISCAL YEAR 2014-2015; PROVIDING FOR A SEVERAWLITY CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES; REPEALING ALL ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: SECTION 1. That in addition to those amounts allocated to the various City departments for Fiscal Year 2014-2015 in the Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the Public Improvement District 1 Fiscal Year 2014-2015 Project Account of the Special Assessment District Fund in the amount of$2,088,356.00, from available funds, contingent upon the adoption of the ordinance levying special assessments for the 2014 Tax Year, for the purpose of providing management and improvement services for the Downtown Public Improvement District during Fiscal Year 2014-2015. SECTION 2. That 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. That this ordinance shall be incorporated into the ordinance effecting the budget of the municipal government of the City of Fort Worth for the ensuing Fiscal Year beginning October 1, 2014, and ending September 30, 2015, 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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 —0 FORM AND LEGALITY: Assistant City Attorney 3. r;C' Secretary ADOPTED AND EFFECTIVE: September 9, 2014 City of Fort Worth PID#1 PROPOSED BUDGET& FIVE YEAR SERVICE PLAN FY 14-15 FY 15-16 FY 16-17 FY 17-18 FY 18-19 REVENUES PID Assessments 1,758,000 1,793,160 1,846,954 1,902,360 1,959,430 COFW Assessments 191,858 195,695 195,695 195,695 195,695 City Payment in-lieu of Ser. 138,498 141,268 141,268 141,268 141,268 PID Generated Revenue 138,271 140,000 140,000 140,000 140,000 Prior Year's Assessment 523,532 461,593 385,872 396,863 444,762 Total Revenues: $ 2,750,159 $ 2,731,716 $ 2,709,789 $ 2,776,186 $ 2,881,155 EXPENSES Management Fee(Admin.) 334,325 342,191 350,339 358,729 367,396 Water 13,000 13,000 13,000 13,000 13,000 Utilities 12,500 12,500 12,500 12,500 12,500 Landscape/Tree Maint. 65,484 67,449 67,449 67,449 67,449 Trash Removal(&All Maint.) 1,170,386 1,204,316 1,204,775 1,205,243 1,205,721 Fence Maintenance - - - - - Holiday Lighting/Decor. - - - - - Security Patrols 78,775 79,225 29,684 30,152 30,630 Comm unications(Newsletter) 7,000 7,000 7,000 7,000 7,000 Marketing(&Research) 348,230 352,857 357,489 362,664 367,483 Transportation&Planning 200,068 202,337 204,652 207,547 209,430 Public Events - - - - - Capital Improvements - 5,000 5,000 5,000 5,000 Replacements - - - - - Insurance 5,380 5,380 5,380 5,380 5,380 Annual review(Audit) 12,200 12,200 12,200 12,200 12,200 City Administrative Fee 41,218 42,389 43,458 44,560 45,695 Budget Expenses: $ 2,288,566 $ 2,345,844 $ 2,312,926 $ 2,331,424 $ 2,348,884 Estimated Operating Reserve 461,593 385,872 396,863 444,762 532,271 Total Expenses $ 2,750,159 $ 2,731,716 $ 2,7095789 $ 2,776,186 $ 2,881,155 FORT WORTH. Downtown P Improvement Public Di stri ct 2 x z 377 ! R^V vt 3 LA 5 ``_ oIr f iG 4 _WHITE SETTLEMENTr- AV O CO E ! aG .�r� � ' " Sa�P� u�,�, y'��` ,fly cpo" � � �,::�' i' •;' ��'� r-d _ Ns �` �s 7 T" 1. 1 10TH z 2 Y ! ; 3TH t iy s TEXAS � U � •� r Mt I —` 30' ALANCASTER„ r S�x�� Ln ;�` <*'�` �� ;,•��* � „`�o.��'vP '°'. -� LEGEND ;r; ` J 'Y PID 1 - DOWNTOWN 0 Q125 0.25 0.5 Miles t Y Y Y 1 lil Prepared on: Au oust 19 2014 9 -- �,a•'x a ' COPYRIGHT 2014 CITY OF FORT WORTH. UNAUTHORIZED REPRODUCTION IS A VIOLATION OF APPLICABLE LAWS. THIc PRODUCT IS FOR INFORMATIONAL PURPOSES AND MAY NOT HAVE BEEN PREPARED FOR OR BE SUITABLE FOR LEGAI ENGINEERING, OR SURVEYING PURPOSES-IT DOES NOT REPRESENT AN ON-THE-GROUND SURVEY AND PRESENTS ONLY THE APPROXIMATE RELATIVE LOCATION OF PROPERTY BOUNDARIES. THE CITY OF FORT WORTH ASSUMES NO RESPONSIBILITY FOR THE ACCURACY OF SAID DATA. City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved on 91912014 - Ordinance Nos. 21432-09-2014 & 21433-09- 2014 DATE: Tuesday, September 09, 2014 REFERENCE NO.: BH-316 LOG NAME: 17PID1 FY15PBH SUBJECT: Conduct a Public Benefit Hearing for Public Improvement District 1, Downtown PID, Concerning the Proposed 2014-2015 Budget in the Amount of$2,750,159.00 and Five-Year Service Plan and Proposed Assessment Roll, Adopt Ordinance Levying Special Assessments for the 2014 Tax Year in the Amount of $1,758,000.00, Authorize Transfer in the Amount of$138,498.00 from the General Fund to the Special Assessment District Fund for the City's Payment in Lieu of Services, Authorize Transfer in the Amount of $191,858.00 from the General Fund to the Special Assessment District Fund for the City's Payment in Lieu of Assessment, Adopt Appropriation Ordinances to Increase Estimated Receipts and Appropriations in the Special Assessment District Fund in the Amount of$2,088,356.00 and Authorize Transfer in the Amount of $41,218.00 for Administrative Fees from the Special Assessment District Fund, Public Improvement District 1 Fiscal Year 2014-2015 Project Account to the General Fund and Authorize Execution of an Agreement with Downtown Fort Worth, Inc., to Manage the District (COUNCIL DISTRICT 9) RECOMMENDATION: It is recommended that the City Council: 1. Hold a public benefit hearing concerning the proposed special assessments on the property located in Public Improvement District 1, Downtown Public Improvement District for the 2014 tax year; 2. Approve the attached 2014-2015 Fiscal Year Budget and Five-Year Service Plan for the Downtown Public Improvement District; 3. Adopt the attached ordinance levying special assessments on the property located in the Downtown Public Improvement District for the 2014 tax year; 4. Authorize a transfer in the amount of $138,498.00 from the General Fund to the Special Assessment District Fund, Public Improvement District 1 Fiscal Year 2014-2015 Project Account for the City's Payment In-Lieu of Services; 5. Authorize a transfer in the amount of $191,858.00 from the General Fund to the Special Assessment District Fund, Public Improvement District 1 Fiscal Year 2014-2015 Project Account for the City's Payment In-Lieu of Assessments; 6. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Public Improvement District 1 Fiscal Year 2014-2015 Project Account of the Special Assessment District Fund in the amount of$1,896,498.00 from available funds; 7. Authorize a transfer in the amount of $41,218.00 for administrative fees from the Special Assessment District Fund, Public Improvement District 1 Fiscal Year 2014-2015 Project Account to the General Fund contingent upon the adoption of the proposed 2014 Assessment Roll; and Logname: 17PIDIFY15PBH Page 1 of 3 8. Authorize the execution of an Agreement with Downtown Fort Worth, Inc., in the amount of $334,325.00 to provide management and improvement services for the Downtown Public Improvement District during Fiscal Year 2014-2015. DISCUSSION: On June 23, 2009, (M&C C-23627) the City Council adopted Resolution No. 3756-06-2009 re-establishing Fort Worth Public Improvement District 1 (Downtown PID). The purpose of this benefit hearing is to receive comments from the public regarding the 2014-2015 Fiscal Year Budget and Five-Year Service Plan for the PID and the proposed assessments to be levied on each property in the PID for the 2014 tax year. Following the public hearing, it is recommended that the City Council approve the attached Budget and Five-Year Service Plan of the PID, adopt the attached ordinance levying the proposed assessments and adopt the appropriation ordinance allocating estimated receipts to the Downtown PID's fund. On August 26, 2014, (M&C BH-308) the City Council conducted a public hearing to receive comments on the proposed 2014-2015 Fiscal Year Budget and Five-Year Service Plan for the PID. Notice of this benefit hearing was published in the newspaper and mailed to all record owners of property in the Downtown PID, in accordance with state law. The improvements and services to be provided in the PID during the 2014-2015 Fiscal Year and the costs thereof are as follows: Improvements Total Budgeted Costs Management Fee (Admin.) $ 334,325.00 Water _ F $ 13,000.00 Utilities --$-- 12,500.00 LandscapefTree Maintenance F $ 65,484.00 Trash Removal (other $1,170,386.00 Maintenance) Security Patrols $ 78,775.00 Communications/Newsletters $ 7,000.00 Marketing (and Research) $ 348,230.00 Transportation and Planning �$ 200,068.00 Insurance �'-$-- 5,380.00 Annual review Audit $ 12,200.00 41,218.00 Administrative Fee $ I ty �__ Budget Expenses $2,288,566.00 Estimated Operating Reserve $ 461,593.00 Total Expenses F $2,750,159.00 The total budgeted costs of the improvements are in the amount of $2,750,159.00. Of this amount, $1,758,000.00 will be funded by assessments collected on privately owned parcels located in the PID by applying a rate of $0.10 cents to each $100.00 of property value. The remainder of the costs in the Logname: 17PID 1 FY 15PBH Page 2 of 3 amount of $992,159.00 will be funded by other revenue sources including: the amount of $191,858.00 in direct payments from the City for Payment In-Lieu of Assessments, the amount of $138,498.00 in direct payments from the City for Payment In-Lieu of Services, the amount of $138,271.00 in revenues generated by PID activities and the amount of$523,532.00 from prior year's assessments and revenues. The Downtown PID is located in COUNCIL DISTRICT 9. FISCAL INFORMATION /CERTIFICATION: The Financial Management Services Director certifies that upon approval of the above recommendations, and the adoption of the Fiscal Year 2014-2015 Budget by the City Council, funds will be available in the Fiscal Year 2015 operating budgets, as appropriated, of the Special Assessment District Fund and the General Fund. FUND CENTERS: TO Fund/Account/Centers FROM Fund/Account/Centers 4)6) GS87 488010 002501002000 $138.498.00 4) GG01 539120 0801000 $138,498.00 5)6) GS87 488010 002501002000 $191.858.00 5) GG01 539120 0801000 $191,858.00 6) GS87 488342 002501002000 $1,758.000.00 7) GS87 539120 002501002000 $41.218.00 6) GS87 539120 002501002000 $2,088.356.00 8) GS87 539120 002501002000 $334,325.00 7)GG01 461813 0171000 $41.218.00 CERTIFICATIONS: Submitted for City Manager's Office by: Fernando Costa (6122) Originating Department Head: Jay Chapa (5804) Additional Information Contact: Ossana Hermosillo (6203) Logname: 17PIDIFY15PBH Page 3 of 3