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CITY OF HOUSTON - CITY COUNCIL
Meeting Date: 10/2/2017
District B
Item Creation Date: 9/6/2017
MYR - TIRZ 11 Greenspoint FY18 Budget
Agenda Item#: 20.
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| | | | | | | | Summary:
ORDINANCE relating to the Fiscal Affairs of the GREATER GREENSPOINT REDEVELOPMENT AUTHORITY on behalf of REINVESTMENT ZONE NUMBER ELEVEN, CITY OF HOUSTON, TEXAS (GREENSPOINT 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 B - DAVIS |
| | | | | | | | Background:
SUBJECT: Ordinance approving the Fiscal Year 2018 Operating Budget for the Greater Greenspoint Redevelopment Authority and the Fiscal Years 2018 – 2022 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Eleven (Greater Greenspoint Zone).
RECOMMENDATION: (Summary)
City Council adopt an ordinance approving the Fiscal Year 2018 Operating Budget for the Greater Greenspoint Redevelopment Authority and the Fiscal Years 2018 – 2022 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Eleven (Greenspoint 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 Greater Greenspoint Redevelopment Authority (the “Authority”) and the Fiscal Years 2018 – 2022 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Eleven (the “Zone”).
- Total Operating Budget for FY18 is $21,025,935 which includes $2,851,599 for required fund transfers, and $18,174,336 for project costs.
- The FY18 Budget includes $2,000,000 in developer reimbursements.
- The FY18 – FY22 CIP Budget totals $42,406,200 and includes provisions for street and drainage improvements, park improvements, streetscape improvements, erosion control, and a Public Safety Campus.
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The FY18 Operating Budget includes $13,245,000 for capital expenditures and $260,000 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.
- The FY18 Operating Budget includes a municipal services cost payment of $2,561,519 to pay for the incremental cost of providing services to the area.
Attachments: FY18 Operating Budgets and FY18 – FY22 CIP Budget
CC: Marta Crinejo, Agenda Director
Anna Russell, City Secretary
Ronald Lewis, City Attorney
Gary Dzierlenga, Senior Assistant City Attorney |
| | | | | | | | Prior Council Action:
Ord. No. 2016-0660, 09/13/16
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| | | | | | | | Amount and Source of Funding:
No funding required |
| | | | | | | | Contact Information:
Gwendolyn F. Tillotson Phone: (832) 393-0937
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