ORDINANCE relating to the Fiscal Affairs of the REINVESTMENT ZONE NUMBER TWENTY-SEVEN, CITY OF HOUSTON, TEXAS (MONTROSE ZONE); approving the Fiscal Year 2018 Operating Budget and the Fiscal Years 2018-2022 Capital Improvements Budget for the Montrose Zone - DISTRICT C - COHEN

This item should only be considered after passage of Item 21 above

SUBJECT:   Ordinance approving the Fiscal Year 2018 Operating Budget and the Fiscal Years 2018 – 2022 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Twenty - Seven (Montrose Zone)

RECOMMENDATION:  (Summary)

City Council adopt an ordinance approving the Fiscal Year 2018 Operating Budget and Fiscal Years 2018 – 2022 CIP Budget for Reinvestment Zone Number Twenty – Seven (Montrose Zone).

SPECIFIC EXPLANATION:

The Administration has undertaken a comprehensive review of the proposed FY18 TIRZ budgets and recommends approval of the FY18 Operating Budget and the FY18 – FY22 CIP Budget for Reinvestment Zone Number Twenty – Seven (Montrose Zone).

• Total Operating Budget for FY18 is $439,572 which includes $281,572 for required fund transfers, and $158,000 for project costs.

• The FY18 Operating Budget includes $69,500 for administration and overhead.

• The Budget includes a municipal services charge payment in FY18 of $196,546 to pay for the incremental cost of providing services to the area.

   

• The FY18 – FY22 CIP totals $20,000, and includes provisions for the construction of pedestrian mobility improvements.

Attachments: FY18 Operating Budget and FY18 – FY22 CIP Budget

CC:

Marta Crinejo, Agenda Director

Anna Russell, City Secretary

Ronald Lewis, City Attorney

Gary Dzierlenga, Sr. Assistant City Attorney

No funding required