ORDINANCE relating to the Fiscal Affairs of the SOUTHWEST HOUSTON REDEVELOPMENT AUTHORITY on behalf of the REINVESTMENT ZONE NUMBER TWENTY, CITY OF HOUSTON, TEXAS (SOUTHWEST HOUSTON ZONE); approving the Fiscal Year 2019 Operating Budget for the Authority and the Fiscal Years 2019-2033 Capital Improvements Budget for the Zone - DISTRICTS F - LE and J - LASTER

SUBJECT:  Ordinance approving the Fiscal Year 2019 Operating Budget for Southwest Houston Redevelopment Authority and the Fiscal Years 2019-2023 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Twenty, City of Houston, Texas (Southwest Houston Zone).

RECOMMENDATION: (Summary)  City Council adopt an ordinance approving the Fiscal Year 2019 Operating Budget for Southwest Houston Redevelopment Authority and the Fiscal Years 2019-2023 Capital Improvement Plan (CIP) for Reinvestment Zone Number Twenty (Southwest Houston 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 Southwest Houston Redevelopment Authority (the “Authority”) and the FY19 - FY23 CIP for Reinvestment Zone Number Twenty (the “Zone”).

• Total Operating Budget for FY19 is $11,416,973 which includes $4,037,585 for required fund transfers and $7,379,388 for Project Costs.

   

• The FY19 – FY23 CIP Budget totals $45,283,237 and includes provisions for street reconstruction, drainage and detention improvements; redevelopment of Sharpstown Mall, Sharpstown Park and the Lee LeClear Tennis Center.

   

• The FY19 Operating Budget includes $4,011,083 for capital expenditures and $135,600 for administration and overhead.

   

• The Authority must advise the Chief Development Officer of any budget amendments.  Adjustments to the Project Costs in the Operating Budget that exceed $400,000 require City Council approval.

• The Budget includes a municipal services charge payment in FY19 of $3,561,587 to pay for the incremental cost of providing services to the area.

Attachments: FY19 Operating Budget and FY19- FY23 CIP

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Andrew F. Icken, Chief Development Officer

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Gwendolyn Tillotson               Phone: (832) 393-0937