HomeMy WebLinkAboutOrdinance 16590-09-2005Ordinance No 16~9a-o9-2mo~
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN
THE SPECIAL ASSESSMENT DISTRICT FUND IN THE AMOUNT OF $491 440 FROM
AVAILABLE FUNDS FOR THE PURPOSE OF FUNDING IMPROVEMENTS AND
SERVICES IN PUBLIC IMPROVEMENT DISTRICT NO 7 (HERITAGE) 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 $491 440 from available funds for the purpose of
funding improvements and services in Public Improvement District No. 7 (Heritage)
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hereby expressly repealed.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.
APPROVE T 'FORM AND LEGALITY
Assist t~City A torney
ADOPTED AND EFFECTIVE. Seo~'ernber I3,aoQS
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION Approved on 9/13/2005 Ordinance No 16589-09-2005 & Ordinance No
16590-09-2005
DATE Tuesday September 13 2005
LOG NAME 13PID7BEN05-06 REFERENCE NO BH-221
SUBJECT
Benefit Hearing for Fort Worth Public Improvement District Number 7 (Heritage) Concerning
Proposed Property Assessments Adoption of Ordinance Levying Assessments for Fiscal Year
2005-06 and Adoption of Appropriation Ordinance Allocating Estimated Receipts to the District
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 7) for Fiscal Year 2005-06
2. Adopt the attached ordinance which levies the proposed assessments for PID 7 for Fiscal Year 2005-
06 and
3 Adopt the attached appropriation ordinance increasing estimated receipts and appropriations by
$491 440 00 in the Special Assessment District Fund PID 7 Project account 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 7 to adopt an ordinance levying the
proposed assessments and to adopt an appropriation ordinance allocating estimated receipts to the
District.
On August 23 2005 (M&C G-14894) 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 7 during the
Fiscal Year 2005-06 adopted the proposed 2005 assessment roll and provided notice of this benefit
hearing
The improvements and services to be provided and the costs thereof are
Improvements
1) Grounds Maintenance
2) Operations
3) City Administration Fee
Total
The total budgeted costs of the improvements are $715 087 00 Of this
funded by assessments collected on privately owned parcels located in the
$0 21 cents to each $100 00 of property value for residential property an
Logname 13PID7BEN05-06
Total Budgeted Costs
$654 425 00
$50 833 00
9 829.00
$715,087.00
amount, $491 440 00 will be
district by applying a rate of
d $0 11 cents for commercial
Page 1 of 2
property
The remainder of the costs, $223 647 00 will be funded by other revenue sources, including
$46 352 00 in a direct payment from the City for payment in lieu of services, which was appropriated from the
General Fund balance by City Council action on August 23 2005 (M&C G-14894)
$24 000 00 from the district's Builder Assessment of $200 00 per lot; and
$153,295 00 paid by the Hillwood Subsidy
Based on the appraised value of the property and considering the benefits to be received from the
proposed improvements, 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
PID 7 is commonly known as the 'Heritage PID and is located in COUNCIL DISTRICT 2. A map is
attached
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that upon adoption of the attached ordinances, funds required for this
expenditure will be available in the Fiscal Year 2005-06 operating budget, as appropriated of the Special
Assessment District Fund
TO Fund/Account/Centers FROM Fund/AccountlCenters
GS87 488342 002507002000 $491,440.00
GS87 .539120 002507002000 $491,440.00
Submitted for City Manager's Office b~ Richard Zavala (Acting) (6222)
Originating Department Head. Jim Keyes (8517)
Additional Information Contact: Jenny Townsend (6030)
Logname 13PID7BEN05-06 Page 2 of 2