SUBJECT: Motion establishing a public hearing date for a fourth amendment to the Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Seventeen (Memorial City Zone)
RECOMMENDATION: (Summary)
To establish a public hearing date for the fourth amendment to the Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Seventeen (Memorial City Zone)
SPECIFIC EXPLANATION:
On October 30, 2018, the Board of Directors of both the Memorial City Redevelopment Authority and Reinvestment Zone Number Seventeen (Memorial City Zone) approved amendments to the Project Plan and Reinvestment Zone Financing Plan for the Memorial City Zone and transmitted the proposed Fourth Amended Project Plan and Reinvestment Zone Financing Plan (the “Amended Plan”) to the City for consideration by City Council. The Amended Plan, which will be coordinated with a proposed change to the boundaries of the Memorial City Zone to add a certain right-of-way area to the Memorial City Zone, will provide for the construction of pedestrian safety improvements.
Pursuant to Texas Tax Code Section 311.011(e), a public hearing must be held prior to City Council’s consideration of an ordinance approving the Amended Plan. The Administration recommends setting the public hearing date on Wednesday, November 28, 2018.
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Andrew F. Icken, Chief Development Officer