ORDINANCE relating to the Fiscal Affairs of REINVESTMENT ZONE NUMBER TWENTY-SEVEN, CITY OF HOUSTON, TEXAS (MONTROSE ZONE); approving the Fiscal Year 2019 Operating Budget and the Fiscal Years 2019-2023 Capital Improvement Projects Budget for the Montrose Zone - DISTRICT C - COHEN

SUBJECT:  Ordinance approving the Fiscal Year 2019 Operating Budget and the Fiscal Years 2019 – 2023 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Twenty – Seven, City of Houston, Texas (Montrose Zone)

RECOMMENDATION:

City Council adopt an ordinance approving the Fiscal Year 2019 Operating Budget and Fiscal Years 2019 – 2023 CIP Budget for Reinvestment Zone Number Twenty – Seven, City of Houston, Texas (Montrose Zone).

SPECIFIC EXPLANATION:

The Administration has undertaken a comprehensive review of the proposed FY19 TIRZ budgets and recommends approval of the FY19 Operating Budget and the FY19 – FY23 CIP Budget for Reinvestment Zone Number Twenty-Seven (Montrose Zone).

• Total Operating Budget for FY19 is $766,014 which includes $313,305 for required fund transfers, and $452,709 for project costs.

• The FY19 Operating Budget includes $50,000 for administration and overhead.

• The Budget includes a municipal services charge payment in FY19 of $196,546 to pay for the incremental cost of providing services to the area.

   

• The FY19 – FY23 CIP totals $197,709 and includes provisions for the construction of pedestrian mobility improvements.

Attachments: FY19 Operating Budget and FY19 – FY23 CIP Budget

_______________________________________________________

Andrew F. Icken, Chief Development Officer

___________________________________________

Gwendolyn F. Tillotson           Phone: (832) 393-0937