SUBJECT: Ordinance approving the Fiscal Year 2018 Operating Budget for the Harrisburg Redevelopment Authority and Fiscal Years 2018 – 2022 Capital Improvement Plan (CIP) Budget for Tax Increment Reinvestment Zone Number Twenty – Three (Harrisburg Zone).
RECOMMENDATION: (Summary)
City Council to adopt an ordinance approving the Fiscal Year 2018 Operating Budget for the Harrisburg Redevelopment Authority and Fiscal Years 2018 – 2022 Capital Improvement Plan (CIP) Budget for Tax Increment Reinvestment Zone Number Twenty – Three (Harrisburg 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 Harrisburg Redevelopment Authority (the Authority) and Fiscal Years 2018 – 2022 Capital Improvement Plan (CIP) Budget for Tax Increment Reinvestment Zone Number Twenty – Three (Harrisburg Zone).
- Total Operating Budget for FY18 is $1,681,743 which includes $56,143 for required fund transfers, and $1,625,600 for Project Costs.
- The FY18 - FY22 CIP Budget totals $3,869,304 and includes provisions for the right of way acquisition for design and construction of roadways and sidewalks, trails and greenspace.
- The FY18 Operating Budget includes $1,500,000 for capital expenditures, $57,500 for administration and overhead, and $375,000 for developer reimbursement agreements.
- The Zone 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 does not have a municipal services charge.
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