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CITY OF HOUSTON - CITY COUNCIL
Meeting Date: 9/18/2018
District D, District I
Item Creation Date: 8/13/2018
MYR - TIRZ 8 Gulfgate FY19 Budget
Agenda Item#: 24.
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| | | | | | | | Summary:
ORDINANCE relating to the Fiscal Affairs of the GULFGATE REDEVELOPMENT AUTHORITY on behalf of REINVESTMENT ZONE NUMBER EIGHT, CITY OF HOUSTON, TEXAS (GULFGATE ZONE); approving the Fiscal Year 2019 Operating Budget for the Authority and the Fiscal Years 2019-2023 Capital Improvement Plan Budget for the Zone - DISTRICTS D - BOYKINS and I - GALLEGOS |
| | | | | | | | Background:
Ordinance approving the Fiscal Year 2019 Operating Budget for the Gulfgate Redevelopment Authority and the Fiscal Years 2019 - 2023 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Eight, City of Houston, Texas (Gulfgate Zone).
RECOMMENDATION:
City Council adopt an ordinance approving the Fiscal Year 2019 Operating Budget for the Gulfgate Redevelopment Authority and the Fiscal Years 2019 - 2023 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Eight, City of Houston, Texas (Gulfgate Zone).
SPECIFIC EXPLANATION:
The Administration has undertaken a comprehensive review of the proposed FY19 TIRZ budgets and recommends approval of the FY19 Operating Budget for the Gulfgate Redevelopment Authority (the “Authority”) and the approval of the FY19 - FY23 CIP Budget for Reinvestment Zone Number Eight (the “Zone”).
- Total Operating Budget for FY19 is $6,762,060 which includes $1,243,806 for required fund transfers and $5,518,254 for Project Costs.
- The FY19 - FY23 CIP Budget totals $12,289,000 and includes provisions for the design and construction of sidewalks, intersection improvements, pedestrian mobility improvements, street reconstruction, and concrete panel replacements.
- The FY19 Operating Budget includes $4,789,000 for capital expenditures and $116,600 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 FY19 Operating Budget has a municipal services charge of $507,330.
Attachments: FY19 Operating Budget and FY19- FY23 CIP Budget
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Andrew F. Icken, Chief Development Officer |
| | | | | | | | Prior Council Action:
Ord. No. 2017-795 – 10/11/2017 |
| | | | | | | | Amount and Source of Funding:
No funding required |
| | | | | | | | Contact Information:
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Gwendolyn F. Tillotson Phone: (832) 393-0937 |
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