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CITY OF HOUSTON - CITY COUNCIL
Meeting Date: 9/11/2018
District B
Item Creation Date: 8/20/2018
MYR - TIRZ 11 Greenspoint FY19 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 2019 Operating Budget for the Authority and the Fiscal Years 2019-2023 Capital Improvement Plan Budget for the Zone - DISTRICT B - DAVIS |
| | | | | | | | Background:
SUBJECT: Ordinance approving the Fiscal Year 2019 Operating Budget for the Greater Greenspoint Redevelopment Authority and the Fiscal Years 2019 – 2023 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Eleven, City of Houston, Texas (Greater Greenspoint Zone).
RECOMMENDATION:
City Council adopt an ordinance approving the Fiscal Year 2019 Operating Budget for the Greater Greenspoint Redevelopment Authority and the Fiscal Years 2019 – 2023 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Eleven, City of Houston (Greenspoint 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 Greater Greenspoint Redevelopment Authority (the “Authority”) and the Fiscal Years 2019 – 2023 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Eleven (the “Zone”).
- Total Operating Budget for FY19 is $29,675,547 which includes $2,895,203 for required fund transfers, and $26,780,344 for project costs.
- The FY19 – FY23 CIP Budget totals $44,611,987 and includes provisions for street and drainage improvements, park improvements, streetscape improvements, erosion control, and a Public Safety Campus.
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The FY19 Operating Budget includes $18,841,987 for capital expenditures and $267,100 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.
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The FY19 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: FY19 Operating Budgets and FY19 – FY23 CIP Budget
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Andrew F. Icken, Chief Development Officer
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| | | | | | | | Prior Council Action:
Ord. No. 2017-0763, 10/4/17
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| | | | | | | | 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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