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Fort Worth to consider adding La Meridian hotel to tourism PID; council sets May 13 benefits hearing
Summary
City staff told the Fort Worth City Council that a petition to include La Meridian, 811 Commerce St., in Tourism PID 18 met statutory thresholds; the council closed the public hearing and set a May 13 benefits hearing for final action.
City staff told the Fort Worth City Council on April 22 that a petition to add La Meridian (811 Commerce Street) to the Fort Worth Tourism Public Improvement District (PID) 18 met statutory thresholds and asked the council to set a benefits hearing for May 13, 2025.
Crystal Hinojosa, an economic development manager with the city, presented the staff report and said notification complied with state law. She told the council that if La Meridian’s owner is added to prior signers of the PID petition, “a total of 81.79% of appraised value, 70.39% of area of property liable for assessment, and 67.8% of record owners liable for assessment will have signed in favor of the PID,” and that the inclusion therefore meets the required 60% thresholds.
Hinojosa provided a cost estimate for the remaining life of the tourism PID (approximately three years): “The total estimated cost for services and improvements for the remaining life of the tourism PID approximately 3 years is $24,190,000, which includes estimated costs of 7,750,000 for fiscal year '25.” After receiving no substantive public comment during the hearing, Councilmember Beck moved to close the public hearing, declare the petition sufficient and set the benefits hearing for May 13, 2025; the motion carried.
Staff recommended the council authorize filing the revised FY24-25 PID budget and set the public benefits hearing so the council can take final action on adding the hotel and levying assessments on May 13.
Votes recorded in the meeting transcript indicate the motion to close the hearing, find the petition sufficient and set the benefits hearing carried on a council vote.
