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CITY OF HOUSTON - CITY COUNCIL
Meeting Date: 10/17/2017
District H
Item Creation Date: 8/7/2017
MYR - TIRZ 21 Hardy Yards/Near Northside FY18 Budget
Agenda Item#: 33.
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| | | | | | | | Summary:
ORDINANCE relating to the Fiscal Affairs of the HARDY/NEAR NORTHSIDE REDEVELOPMENT AUTHORITY on behalf of REINVESTMENT ZONE NUMBER TWENTY-ONE, CITY OF HOUSTON, TEXAS (HARDY/NEAR NORTHSIDE ZONE); approving the Fiscal Year 2018 Operating Budget for the Authority and the Fiscal Years 2018-2022 Capital Improvement Plan Budget for the Zone - DISTRICT H - CISNEROS |
| | | | | | | | Background:
SUBJECT: Ordinance approving the Fiscal Year 2018 Operating Budget for the Hardy Yards/Near Northside Redevelopment Authority on behalf of Reinvestment Zone Number Twenty-One (Hardy Yards/Near Northside Zone).
RECOMMENDATION: (Summary)
City Council adopt an ordinance approving the Fiscal Year 2018 Operating Budget for the Hardy Yards/Near Northside Redevelopment Authority on behalf of Reinvestment Zone Number Twenty-One (Hardy Yards/Near Northside Zone).
SPECIFIC EXPLANATION:
The Administration has undertaken a comprehensive review of proposed FY18 TIRZ budgets and recommends approval of the FY18 Operating Budget for the Hardy Yards/Near Northside Redevelopment Authority on behalf of Reinvestment Zone Number Twenty-One (Hardy Yards/Near Northside Zone).
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Total Operating Budget for FY18 is $1,257,005 which includes $262,070 for required fund transfers and $994,935 for Project Costs.
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The FY18 Operating Budget provides for the transfer of $227,887 to the City’s Housing and Community Development Department for Affordable Housing.
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The FY18 Operating Budget includes $46,250 for administration and overhead. The Authority must advise the Chief Development Officer of any budget amendments. Adjustments to the budget of $400,000 or more require City Council approval.
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The budget includes an estimated developer reimbursement of $878,685 for the Hardy Yards development.
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The FY18 Operating Budget does not have a municipal services charge.
Attachments: FY18 Operating Budget
cc: Marta Crinejo, Agenda Director
Anna Russell, City Secretary
Ronald Lewis, City Attorney
Gary Dzierlenga, Senior Assistant City Attorney
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| | | | | | | | Prior Council Action:
Ord. No. 2016-0598, 8/16/16
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| | | | | | | | Amount of Funding:
No funding required |
| | | | | | | | Contact Information:
Gwendolyn Tillotson Phone: (832) 393-0937
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