ORDINANCE relating to the Fiscal Affairs of the CITY PARK REDEVELOPMENT AUTHORITY on behalf of REINVESTMENT ZONE NUMBER TWELVE, CITY OF HOUSTON, TEXAS (CITY PARK ZONE); approving the Fiscal Year 2015 Operating Budget for the Authority - DISTRICT C - COHEN

The Administration has undertaken a comprehensive review of the proposed FY 15 TIRZ budgets and recommends approval of the FY 15 Operating Budget for the City Park Redevelopment Authority (the Authority).

• Total Operating Budget for FY 15 is $837, 211, which includes $239,198 for required fund transfers and $598,013 for project costs.
• The FY 15 Operating Budget includes $34,300 for administration and overhead.  The authority must advise the Chief Development Officer of any budget amendments.  Adjustments to the budget that exceed $400,000 require City Council approval.