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CITY OF HOUSTON - CITY COUNCIL
Meeting Date: 10/16/2018
District C, District G
Item Creation Date: 10/1/2018
MYR - TIRZ 19 Upper Kirby FY19 Budget
Agenda Item#: 24.
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| | | | | | | | Summary:
ORDINANCE relating to the Fiscal Affairs of the UPPER KIRBY REDEVELOPMENT AUTHORITY on behalf of REINVESTMENT ZONE NUMBER NINETEEN, City of Houston, Texas (Upper Kirby 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 C - COHEN and G - TRAVIS |
| | | | | | | | Background:
SUBJECT: Ordinance approving the Fiscal Year 2019 Operating Budget for Upper Kirby Redevelopment Authority and the Fiscal Years 2019-2023 Capital Improvement Plan (CIP) for Reinvestment Zone Number Nineteen, City of Houston, Texas (Upper Kirby Zone).
RECOMMENDATION: (Summary)
City Council adopt an ordinance approving the Fiscal Year 2019 Operating Budget for Upper Kirby Redevelopment Authority and the Fiscal Years 2019 – 2023 CIP for Reinvestment Zone Number Nineteen, City of Houston, Texas (Upper Kirby Zone).
SPECIFIC EXPLANATION:
The Administration has undertaken a comprehensive review of proposed FY19 TIRZ budgets and recommends approval of the FY19 Operating Budget for Upper Kirby Redevelopment Authority (the “Authority”) and the FY19 - FY23 CIP for Reinvestment Zone Number Nineteen (the “Zone”).
- Total Operating Budget for FY19 is $20,534,937 which includes $3,746,382 for required fund transfers and $16,788,555 for Project Costs.
- The FY19 – FY23 CIP Budget totals $84,841,500 and includes provisions for the design and construction of roadway improvements, drainage system improvements and park facilities.
- The FY19 Operating budget includes $11,271,500 for capital expenditures and $204,700 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 cost payment in FY19 of $3,025,573 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 |
| | | | | | | | Prior Council Action:
Ord. No. 2017-0816, 10/18/2017
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| | | | | | | | Amount and Source of Funding:
No Funding Required
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| | | | | | | | Contact Information:
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Gwendolyn Tillotson Phone: (832) 393-0937 |
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