ORDINANCE relating to the Fiscal Affairs of the SAINT GEORGE PLACE REDEVELOPMENT AUTHORITY on behalf of REINVESTMENT ZONE NUMBER ONE, CITY OF HOUSTON, TEXAS (SAINT GEORGE PLACE ZONE); approving the Fiscal Year 2018 Operating Budget for the Authority and the Fiscal Years 2018-2022 Capital Improvements Budget for the Zone

SUBJECT: Ordinance approving the Fiscal Year 2018 Operating Budget for Saint George Place Redevelopment Authority and the Fiscal Years 2018 - 2022 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number One (Saint George Place Zone).

RECOMMENDATION: (Summary)

City Council adopt an ordinance approving the Fiscal Year 2018 Operating Budget for Saint George Place Redevelopment Authority and the Fiscal Years 2018 - 2022 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number One (Saint George Place Zone).

SPECIFIC EXPLANATION:

The administration has undertaken a comprehensive review of the proposed FY18 TIRZ budgets and recommends approval of the FY18 Operating Budget for the Saint George Place Redevelopment Authority (the “Authority”) and the FY18 - FY22 CIP Budget for Reinvestment Zone Number One (the “Zone”).

• Total Operating Budget for FY18 is $5,269,498 which includes $2,479,535 for required fund transfers and $2,789,963 for Project Costs.

   

• The FY18 – FY22 CIP Budget totals $11,928,000 and includes provisions for street reconstruction, utilities and detention improvements.

   

• The FY18 Operating Budget includes $1,178,000 for capital expenditures and $68,100 for administration and overhead. The Authority must advise the Chief Development Officer of any budget amendments. Adjustments to the budget that exceed $400,000 require City Council approval.

• The FY18 Operating Budget includes a municipal services cost payment in FY18 of $232,718 to pay for the incremental cost of providing services to the area.

   

  Attachments: FY18 Operating Budget and FY18 - FY22 CIP Budget

   

  cc:

  Marta Crinejo, Agenda Director

  Anna Russell, City Secretary

  Ronald Lewis, City Attorney

  Gary Dzierlenga, Senior Assistant City Attorney

Gwendolyn Tillotson                          

Phone:  (832) 393-0937