M&C Review


COUNCIL ACTION:  Approved on 9/11/2018 - Ordinance No. 23364-09-2018

DATE: 9/11/2018 REFERENCE NO.: **G-19363 LOG NAME: 13TOURISM PID FY18 ADMN FEE
CODE: G TYPE: CONSENT PUBLIC HEARING: NO
SUBJECT:  

Adopt Appropriation Ordinance Increasing Revenue in the General Fund in the Amount of $55,000.00 to Account for Administrative Fees from Fort Worth Public Improvement District No. 18 - Tourism PID (ALL COUNCIL DISTRICTS)


RECOMMENDATION:

It is recommended that the City Council adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the General Fund in the amount of $55,000.00 to account for administrative fees from Fort Worth Public Improvement District No. 18 - Tourism PID.

 
DISCUSSION:

The purpose of this Mayor and Council Communication is to create an appropriation that allows the proper recording of the 2% administrative fee charged to the Fort Worth Public Improvement District No. 18 - Tourism PID per the City's agreement with the Fort Worth Tourism Public Improvement District Corporation (FWTPIDC) and the Fort Worth Convention and Visitors Bureau (CVB) and the 2018 budget and ten-year service and assessment plan adopted by the City Council on August 29, 2017 (BH-367).

On August 29, 2017, the Mayor and City Council adopted Resolution No. 4837-08-2017 establishing the Tourism PID.  The City Council, through separate action, also authorized an agreement with the FWTPIDC and CVB to manage the operations of the Tourism PID (Agreement) (M&C BH-367; CSC No. 50298).  The Agreement sets forth the City's administrative fee structure, which entitles the City to retain two percent (2%) of special assessment revenues to cover the City's costs related to the Tourism PID operations, including, but not limited to, staff time and expenses related to the assessment collections, costs for publication and mailing of legal notices required for the Tourism PID, review of reports and audits, and preparation of tax rolls and City Council documents related to the Tourism PID.

At the City's election, the City will have the right to collect this administrative fee either annually by deducting the full amount of the fee from the special assessments collected for the month of October or monthly by deducting one­ twelfth (1/12) of this administrative fee from each month's collection of assessments. The administrative fee is capped at fifty-five thousand dollars ($55,000.00) on an annual basis

This M&C does not request approval of a contract with a business entity.

 
FISCAL INFORMATION/CERTIFICATION:

The Director of Finance certifies that that upon approval of the above recommendations, funds will be available in the Fiscal Year 2018 operating budget, as appropriated, of the Tourism PID Fund and the General Fund.

TO
    Fund Department
ID
Account Project
ID
Program Activity Budget
Year
Reference #
(Chartfield 2)
Amount

FROM
    Fund Department
ID
Account Project
ID
Program Activity Budget
Year
Reference #
(Chartfield 2)
Amount

Submitted for City Manager's Office by:
Susan Alanis (8180)
Originating Department Head:
Aaron Bovos (8517)
Additional Information Contact:
Angela Estrada (8511)

 
 
ATTACHMENTS
  13TOURISM PID FY18 ADMN FEE AO.docx