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Home My WebLink AboutOrdinance 13168,~ „ F "• Ordinance No. ~ 3 ~ to AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE SPECIAL ASSESSMENT DISTRICT FUND IN THE AMOUNT OF $200,800 00 FROM AVAILABLE FUNDS FOR THE PURPOSE OF PROVIDING FISCAL YEAR 1997-98 FUNDING FOR IMPROVEMENT DISTRICT NO 1, PROVIDING FOR A SEVERABILITY CLAUSE, MAKING THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES AND REPEALING ALL 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 amomrts allocated to the various City departments for the Fiscal Year 1.997-98 and in the Budget of the City Manager there shall also be increased estimated receipts and appropriations in the Special Assessment District Fwid in the amo~mt of $200,800 00 from available funds for the purpose of providing fiscal year 1997-98 fiuiding for Improvement District No 1 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 remaitng provisions shall be and remaui in full force and effect. SECTION 3 That this ordinance shall be cumulative of Ordinance No. 12688 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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 and be in full. force and effect and after the date of its passage, and it is or ordained. APPROVED AS TO FORM AND LEGALITY Assistant City Attorney ~~(~ ~9~ Date ~- ~ 3 --~ ~ Adopted G/- ~ 3- ~7 Effective ..~ ~,~~~~~1 SUMMARY OF THE UPDATED FIVE-YEAR PLAN OF SERVICES The State legislation enabling Special Improvement Districts in the State of Texas requires that the Five- YearPlan of Services be developed and updated annually This is a summary of the required Five-Year P1an.Budget. Since the Five-Year Plan is updated annually, it should be seen only as a guide and. even in its final form, subject to change on an annual basis. This Summary Five-Year Plan assumes the continuation of all services proposed in the 1997-1998 Budget and Plan of Services. This Summary is based on a relatively flat revenue stream for the five year life of the District. It assumes a 2.5% increase annually in private property revenues based on a constant assessment rate of 12 cents per $100 valuation (or less if property values increase) over the life of the District. This small revenue increase was added to the Maintenance and Landscaping program to cover any cost of living adjustments for the subcontractors. Therefore, this Budget and Five-Year Plan of Services will only initiate new programs that have their own revenue generators.\ The Five-Year Plan would be altered greatly if the size of the District were greatly increase during this five-year period. It was assumed that the size of the District would not significantly increase over the next five years. Following is a summary of projected expenditures and revenues for the Updated Five-Year Plan. FORT WORTH IMPROVEMENT DISTRICT #1 FIVE-YEAR PLAN OF SERVICES REVENUE AND EXPENSE SUIvIlvIARY 1997-98 1998-99 1999-00 2000-01 2001-02 PROGRAM AREA ITEM YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 8 REVENUES Private Property Assessments 601 000 616 025 631 425 647,210 663,390 City Property Assessments 73,500 75,300 77,000 78 90b 80,875 City Pay for H/T Serv 31,500 31,500 31.500 31,500 31,500 City Pay for City Serv 54,800 34 800 34 800 34 800 34,800 City Pay for P & R Serv 41 000 41,000 41 000 41,000 41,000 Sid-Generated Revenue 70 100 71,100 72.600 73,500 75 000 Interest 10 000 10 000 11 000. 12.000 13 000 Other 20 000 30 000 20 000 20 000 20 000 SUBTOTALS 901 900 909 725 919,325 938 910 959,565 Maintenance & Landscaping 521 400 522.800 524 800 535,000 545,000 Promotions 7U 450 71 450 72.600 73,50() 75 000 Marketing 60 000 60 000 62.000 63 000 65 000 Security Enhancement 20 665 20 665 21 665 22.665 23,665 Transportation & Parking 40,525 40,525 41,525 42.525 43,525 Administration 188.860 194.285 196 735 202.220 207.375 TOTAL 901 900 909 725 919,325 938 910 959.565 ~ . «~ ~: I~~r~~i Downtown Fort Worth Improvement District ## 1 ~~. b o ~~ ~ ~ ~B~ ~0~0> ~~ ~t r.r~ve ~ ~~ T 1 ,. r ~~ _ ~~ ~~ v `>G v' l.J .d~ C "`~ ~C~CCn7^n `J vJ ~* ~J ~ ~ ~ ^ r ,7 ~i ~ ~ ~ ~~~ ~ ~' RNER ~ ~ f'1 p O Prepared by Downtown tort Worth, Inc Starr August 30 1997 0 ~~ ~_ 0 _-, TL ~/ ~, J 1 I / / City of Fort Worth, Texas Mayor and Council Communication 09/23/97 I G-12008 I 13PIDONE I 1 of 2 SUBJECT APPROPRIATION ORDINANCE AND PUBLIC HEARING FOR FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO 1 AND ACTION CONCERNING THE ANNUAL PLAN OF SERVICE, BUDGET AND SETTING OF BENEFIT HEARING FOR FISCAL YEAR 1997-98 RECOMMENDATION It is recommended that the City Counci! take the following action regarding Fort Worth Improvement District No 1 1 Hold a public hearing concerning the plan of services and budget for FY 1997-98, and 2 Adjourn the public hearing, and 3 Approve the attached service plan and budget for FY 199.7-98 as recommended by the Advisory Board of Fort Worth Public improvement District No 1, and 4 Authorize the transfer of 5200,800 00 from the General Fund to the Special Assessment District Fund, PID #1, FY 1997-98 project account, and 5 Adopt the attached appropriation ordinance increasing estimated receipts and appropriations by $200,800 00 in the Special Assessment District Fund from available funds, and 6 Authorize the transfer of 55,000 00 for administrative fees from the Special Assessment District Fund, PID #1, FY 1997-98 project account to the General Fund, and 7 Authorize the City Manager to contract with Downtown Fort Worth Incorporated to provide improvements and services in the District during FY 1997-98 for the sum of 5801,800 00, and 8 Adopt the proposed 1997 assessment roll which is on file with the City Secretary and set Tuesday, October 21, 1997 at 10 00 a m in the City Council Chamber as the time and place for the benefit hearing, and 9 Direct the City Secretary to give notice of the October 21, 1997 hearing in accordance with state law, and 10 Approve adding to the 1997-98 budget, as contingency, any unencumbered revenues from the District's assessments from prior years Printed on Recyded Paper City of Fort Wortl~ Texas Mayor and Council Communication DATE REFERENCE NUMBER LOG NAME PAGE 09/23/97 G-12008 13PIDONE 2 of 2 SUBJECT APPROPRIATION ORDINANCE AND PUBLIC HEARING FOR FORT WORTH PUBLIC IMPROVEMENT DISTRICT NO 1 AND ACTION CONCERNING THE ANNUAL PLAN OF SERVICE, BUDGET AND SETTING OF BENEFIT HEARING FOR FISCAL YEAR 1997-98 DISCUSSION By M&C C-14509 approved 10/04/94, the City Council re-established Fort Worth Public Improvement District No 1 for five additional years State law requires an annual report on the plan of services and proposed budget which are included as a part of the M&C FISCAL INFORMATION/CERTIFICATION The Director of Fiscal Services certifies that upon approval and completion of the above recommendations and adoption of the attached appropriation ordinance, funds will be available in the current operating budget, as appropriated, of the Special Assessment District Fund CBf Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY Office by: (to) (4)(5)GS87 472001 002100098000 $200,800.00 APPROV NC Charles Boswell 8511 (6) GGO1 481306 0134020 $5,000.00 ' CITY COU Originating Department Head: (5) GS87 539120 002100098000 $200,800.00 S~° 23 1997 Jim Keyes 8517 (from) (4) GGOl 538070 0905800 $200,800.00 ~. f ilte For Additional Information (7) GS87 539120 002100098000 $801,800.00 o C ~®~`~ of Foxt Worth,Tex Cit Contact: (6) GS87 539120 002100098000 $5,000.00 y Linda Brown 6030 Printed on Recyded Paper Adopted Ord-r~8E1Ce t~"0. ~b~