HomeMy WebLinkAboutOrdinance 21888-09-2015 ORDINANCE NO. 21888-09-2015
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE WATER CAPITAL PROJECTS FUND IN
THE AMOUNT OF $431,074.28, FROM AVAILABLE FUNDS, FOR THE
PURPOSE OF FUNDING A COMMUNITY FACILITIES AGREEMENT
WITH FG ALEDO DEVELOPMENT, LLC AND WALSH RANCHES
LIMITED PARTNERSHIP FOR THE INSTALLATION OF 24-INCH/30-
INCH/36-INCH WATER MAIN TO SERVE THE MORNINGSTAR
DEVELOPMENT, WALSH RANCH AND SURROUNDING AREAS
LOCATED EAST OF FM 3325; PROVIDING FOR A SEVERABILITY
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 Water Capital Projects Fund in the amount of $431,074.28, from available
funds, for the purpose of funding a Community Facilities Agreement with FG Aledo
Development, LLC and Walsh Ranch Limited Partnership for the installation of 24-inch/30-
inch/36-inch water main to serve the Morningstar Development, Walsh Ranch and surrounding
areas located East of FM 3325.
SECTION 2.
That should any portion, section or part of a section of this ordinance be declared invalid,
inoperative or void for any reason by a court of competent jurisdiction, such decision, opinion or
judgment shall in no way impair the remaining portions, sections, or parts of sections of this
ordinance, which said remaining provisions shall be and remain in full force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance No. 21457-09-2014 and all other ordinances
and appropriations amending the same except in those instances where the provisions of this
ordinance are in direct conflict with such other ordinances and appropriations, in which instance
said conflicting provisions of said prior ordinances and appropriations are hereby expressly
repealed.
Ordinance No. 21888-09-2015
Page 1 of 2
SECTION 4.
This ordinance shall take effect upon adoption.
APPROVED AS TO FORM AND LEGALITY: r
.� ..
Douglas Black - ary J.
Sr. Assistant City Attorney City Secretary
ADOPTED AND EFFECTIVE: September 15, 2015
Ordinance No. 21888-09-2015
Page 2 of 2
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Coity of Fort Worth, Texas
Mayor and Council Communication
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COUNCIL ACTION: Approved on 9/1512015 - Resolution No 4514-09-2015 ,& Ordinanc' No
2188$'-09-2015
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DATE: Tuesday, September 15, 2015 REFERENCE NO.: C-27460
LOG NAME: 06MORNINGSTAR OFFSITE WATER IMPROVEMENTS -WESTSIDE
SUBJECT:
Authorize Execution of Community Facilities Agreement with FIG Aledo Development, LLC., and Walsh
Ranches Limited Partnership in the Arnount of$4,593,725.52, with City Participation in the Amount of
$2,046,776.46 for the Oversizing and Construction of the Westside V Mater Main to Serve the Morningstar
Development, Walsh Ranch and Surrounding Areas Located East of 3325 in o Worth's
Extraterritorial Jurisdiction and Adopt Reimbursement Resolution and Adopt Appropriation Ordinance (ETJ
ADJACENT to COUNCIL DISTRICT 3)
RECOMMENDATION:
It is recommended that the City Council.-
1. Authorize the acceptance of funds in the amount of$431,074.28 from Walsh Ranches Limited
Partnership for oversizing the water capacity in the Westside V 24-inch/30®inch/364ch water main to
serve Walsh Ranch;
2. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Water Capital Projects Funds in the amount of 431,074.26;
3. Authorize the execution of a Community Facilities Agreement with FG Aledo Development LLC., in the
amount of$4„593,725.52, which includes, City participation in the amount of$2,048,776.48 and Walsh
Ranches Limited Partnership financial participation in the amount of$431,0175.28 fort the installation of a
24-inch/30-inch/365 inch water main to serve the Morningstar Development, Walsh Ranch and to
accommodate future growth in the surrounding areas located East of FM 3325; an
4. Adopt the attached resolution expressing official intent to reimburse expenditures with proceeds of
future debt for the cot of oversizing the Westside V 24-inch/30-inch/36-inch water main to serve Walsh
Ranch and construction of 24-inch/36-inch water main to serve Morningstar and suirround'ing areas
located East of 3325 in Fort Worth's Extraterritorial Jurisdiction.
DISCUSSION:
Morningstar, a development located in Fort Worths Extraterritorial Jurisdiction (ETJ)„ is located within the
Municipal Utility Districts No. 1 and No. 2 of Parker County (Districts), which were established on
December 4, 2007 per M&C C-22562. As part of their off-site water infrastructure„ Morningstar needs only
6 inch Westside V water main to serve its site. Walsh Ranches Limited Partnership agreed to cost
participate in the estimated amount of$431,074.28 in this proposed off-site water main forte water
capacity needed to serve the Walsh Ranch Developments which is adjacent to Morningstar,, The City of
Fort Worth is cost participating in the oversiz,ing of the off-site Westside V 24-iinch/30-inch/36-inch water
main to serve anticipated future growth in the surrounding area. The City of Fort Worth's cost participation
I ognan�ie: 06MORNINGs,rAR Of~`]:fiI"m WATER fMPROVE'Mfi N,r - WESTSIt)tyo 5 Pagel sink`.
in the construction of said water main is estimated in the amount of$2,048,776.48. The estimated
construction cost for this water main is subject to construction inspection and material testing fees.
FG Aledo Development, LLC., agrees to pay for additional inspection fees that would be above the
standard 2 percent if the City deems the need to require additional inspections..
The summary of costs associated with Morningstar, Walsh Ranches and the City of Fort Worth is as
follows..
Morningstar ......._'Wa"I'shF"', .......
. . ............Cost � City Cost FRanches Cost Total Cost
Con.
onstruction
A.. Water
1 Water
io 1,575,981096� 1. ......
.60�$3,533,635.00
With 25%
$2,032,571.88 $1,969,977.38 �414A94.50 $4,417,043.76
Contingency
................
I.B. Construction
Fees,
$4 5 -441
1. Inspection $39,3'9" 9 .._5"_5[_ .89 $88,340.88
$
Fees (2%' $8,289.89 $88,340.88
_7$33'99_5,5 ............
.. .........
['_$4"0,'65........4"4 9,eating Z, Material
M i.
�Fe
Fees (2 r%
S
799.1(01 $16,57978 $176,681.76
s Fee
�Sub-Tbtal
............ ..............._"... ......... ....................
Total Water $2 113 8 7 4.76"F$2' 048,776.48 $431,074.28 $4,593,725.52
Project Cost
The costs stated above are based on an engineer's estimate. This project will be publicly bid. The
reimbursement oft participation (excluding inspection and material testing fees) is not a lump sum
amount and may be less than stated above depending upon actual quantities from the Notice of Final
Completion package (green sheet).
This project is anticipated to be included in a future revenue bond issue for the Water and Sewer Fund.
Available cash within the Water and Sewer portfolio and the City's portfolio along with the appropriation
authority authorized under the Direct Purchase Note Program will be used to provide interim financing for
this project until debt is issued. To the extent resources other than the Water and Sewer portfolio are
used to provide interim financing, the Water and Sewer Fund will be charged interest that is equivalent to
the overall rate of return being earned by the City portfolio (currently approximately one-percent
annually). Should the City's portfolio not support the liquidity needed to provide an interim short-term
financing source, another funding source will be required, is could mean issuance of securities under
the Direct Purchase of Program or earlier issuance of Water and Sewer revenue bonds than is
currently planned. Once debt associated with this project is sold, and proceeds will be used to reimburse
the Water and Sewer portfolio and the City's portfolio in accordance with the attached Reimbursement
Resolution,
In accordance with the provisions of the Financial Management Policy Statements, Staff anticipates
presenting revenue-supported debt issuances t o t he City Council for consideration within then three
years.. The Financial Management Services Department is currently working with all departments to
ensure that multi-year Capital Improvements Plans are in place. Newly developed and already existing
plans, such as the Water Department's current multi-year Capital lmprovement Plan, will be presented to
Logname: 06MORNIN(.,TSTAR OFF'Sl[TE WATER I.MPROVEMEN178 ... WES"I'SfDE. 5 Page 2 of 3
City Council for review and adoption. If the City Council-adopted plan does not include issuance of t
for this specific project, the project will be funded with other financing sources. If the Council-adopted plan
calls for debt issuance, that debt must be issued within appro irnately three years to provide
reimbursement for these expenses. If that does not occur, the costs will no longer be reimbursable by
issuing tax-exempt debt and the fund'irig source will have to be made whole through other budgetary
methods. Adoption of this resolution does not obligate the City to sell bonds, but preserves the ability to
reimburse the City from tax-exempt bond proceeds.
This project is located in Fort Worth's Extraterritorial Jurisdiction (ETJ ADJACENT to COUNCIL DISTRICT
3)„ Mapsco 710U, 71Ol, 710Y, 710Z, 71 1S, 711 , 750C, 760VD and 761A.
FISCAL INFORMATION /CERTIFICATION:
The Financial Management Services [Director certifies that funds are available as directed by M&C G-
18375 in the 2017 Water and Sewer Revenue Bonds Capital Project Fund for transfer from unspecified
Funding to the Westside V 24-inch/30-inch/36-inch water main project as depicted in the following table:
Fund Available 0roJ.e. +c te _..... .... al
B
...m d balance .. ..
Appropriation Expenditures
Amount
20171J!/ater and $49,508,594.46 ..... „045,776.48 47,4599...�.......� ,_....,.
517w95
Sewer Revenue
Bonds Capital
Project Fund...
After appropriation oft the amount of$2,048,776.48 to the project, an amount of 7,450,517.98 in
available revenue will remain in the 2017 Water and Sewer Revenue Bonds Capital Project Fund.
FUND CENTERS®
TO Fund/Account/Centers FROM Fund/Account/Centers
2)_P216.5 .1111488100 6001402606,6 4.:.4.. 4.50 I=2 i :i 1,4C 0014025 § 1 969 �7 8
2hj�265_..v468500 600140260684 $8.,,26_,.E2 ��2266 561200 600140260684. 3399.55
2) P265 488100 600140260685 2�39,5 a 2 _F'�6Q.._6 13 5�1 660140260666 X39 3 3.55
2)_P265 539140 .60014026068 �4�4 d...�C� �P ; 5 54,1206 600140260683 414 4.94.50
2 26, m_56120�0 600140260684 �26�.,,,6. , § P,26 a 511.200 6001402 06€4 t3.289.6
2) P265._531350 600140260685 LQ,, q . P265_5313.5,0 600140260685 _„ 6 269.x9
CERTIFICATIONS:
Jesus J. Chapa (5504)
Submitted for Ci Manger's Office by Fernando Costa (6122)
John Cara-uan (5246)
Oricwinatincg_Departrr�ent Head: Randle Harwood (6101)
Wendy Chi-Babulal (6242)
Additional Information Contact: Julie Westerman (2677)
1,oetiarae: 0 OR-NI STAR OFteal'TE ATE if :R0VF1 f,1' 'T - WESTSIDE 5 Page 3 of