HomeMy WebLinkAboutOrdinance 16585-09-2009Ordinance No. / foss - 09 BOOS
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN
THE SPECIAL ASSESSMENT DISTRICT FUND IN THE AMOUNT OF $1 148 000 FROM
AVAILABLE FUNDS FOR THE PURPOSE OF FUNDING IMPROVEMENTS AND
SERVICES IN PUBLIC IMPROVEMENT DISTRICT NO 1 (DOWNTOWN), MAKING THIS
ORDINANCE CUMULATIVE OF PRIOR 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 2005-2006 in the
Budget of the City Manager there shall also be increased estimated receipts and appropriations in the
Special Assessment District Fund in the amount of $1 148 000 from available funds for the purpose of
funding improvements and services in Public Improvement District No 1 (Downtown)
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 2005 and ending
September 30 2006 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hereby expressly repealed.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.
APPROV TO FO,RI1ll D LEGALITY
Assistant City A rney ~'°
ADOPTED AND EFFECTIVE. SQ.L~~2.r' 13~1GO5
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION Approved on 9/13/2005 Ordinance No 16584-09-2005 & Ordinance No
16585-09-2005 8< Ordinance No 16586-09-2005
DATE Tuesday September 13 2005
LOG NAME 13PID1 BEN05-06 REFERENCE NO BH 219
SUBJECT
Benefit Hearing for Fort Worth Public Improvement District Number 1 (Downtown) Concerning
Proposed Property Assessments Adoption of Ordinance Levying Assessments for Fiscal Year
2005-06 Adoption of Appropriation Ordinance for Fiscal Year 2005-06 Authorize Transfer of City's
Payment in-lieu of Assessments and Adoption of Appropriation Ordinance to Increase Estimated
Receipts in the Special Assessment District Fund
.RECOMMENDATION
It is recommended that the City Council
1 Hold a benefit hearing concerning the proposed property assessments for Fort Worth Public
Improvement District (PID 1) for Fiscal Year 2005-06
2. Adopt the attached ordinance which levies the proposed assessments for PID 1 for Fiscal Year 2005-
06
3 Adopt the attached appropriation ordinance increasing estimated receipts and appropriations by
$1 148 000 00 in the Special Assessment District Fund PID 1 Project account from available funds,
4 Authorize the transfer of $174 520 00 for the City's payment in-lieu of assessments from the General
Fund to the Special Assessment District Fund PID 1 Project for Fiscal Year 2005-06 and
5 Adopt the attached appropriation ordinance increasing estimated receipts and appropriations by
$174 520 00 in the Special Assessment District Fund PID 1 Project from available funds.
DISCUSSION
The purpose of this benefit hearing is to receive comments from the public regarding the Fiscal Year 2005-
06 proposed assessments to be levied on each property in PID 1 to adopt an ordinance levying the
proposed assessments, to adopt appropriation ordinances allocating estimated receipts to the District and
authorizing the transfer of funds to the District for the City's payment in-lieu of assessments.
On August 23 2005 (M&C G-14892) the City Council approved the Fiscal Year 2005-06 budget and five-
year service plan, directed that certain improvements and/or services be provided in PID 1 during the
Fiscal Year 2005-06 adopted the proposed 2005 assessment roll and provided notice of this benefit
hearing
Logname 13PID1BEN05-06 Page 1 of 3
The improvements and services to be provided and the costs thereof are.
Improvement Total Budgeted Costs
1) Maintenance $977 371 00
2) Marketing $187 333 00
3) Security $31 019 00
4) Transportation & Parking $140 629 00
5) Operations $284 800 00
6) Administration $22,960.00
Total $1,644112.00
The total budgeted costs of the improvements are $1 644 112.00 Of this amount, $1 148 000 00 will be
funded by assessments collected on privately owned parcels located. in the district by applying a rate of
$0 12 cents to each $100 00 of property value The remainder of the costs, $496 112 00 will be funded by
other revenue sources including
$174 520 00 in direct payment from the City for payment in lieu of assessments as required by
Section A 372.14 (b) of the Local Government Code
$125 092.00 in direct payments from the City for payment in-
lieu of services, which was appropriated from
the General Fund fund balance by City Council action on August 23 2005 (M8~C G-14892)
$113,500 00 in revenues generated by district activities;
$78 000 00 from prior year assessments; and
$5 000 00 in interest earned
Based on the appraised value of the property and considering the benefits to be received from the
proposed improvements and services, it is the opinion of the City staff that an amount equal to or more
than the proposed assessments, upon completion of the improvements in accordance with the contract,
will enhance each parcel of property in value
This property is commonly known as the 'Downtown" PID and is located in COUNCIL DISTRICT 9 A map
is attached
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that upon adoption of the attached appropriation ordinance funds will be
available in the Fiscal Year 2005-06 operating budget, as appropriated of the Special Assessment District
Fund
TO Fund/Account/Centers
GS87 488342 002501002000 $1,148,000.00
GS87 539120 002501002000 $1,148,000.00
GS87 472001 002501002000 $174.520.00
GS87 539120 002501002000 $174,520.00
FROM Fund/Account/Centers
GG01 538070 0905800 $174,520.00
Submitted for City Manager's Office b~ Richard Zavala (Acting) (6222)
Originating Department Head. Jim Keyes (8517)
Logname• 13PID1BEN05-06 Page 2 of 3