SUBJECT: Motion establishing a public hearing date for a fifth amendment to the Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Ten, City of Houston, Texas (Lake Houston Zone)
RECOMMENDATION: (Summary)
To establish a public hearing date to consider a fifth amendment to the Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Ten, City of Houston, Texas (Lake Houston Zone)
SPECIFIC EXPLANATION:
It is anticipated that the Board of Directors of both the Lake Houston Redevelopment Authority and Reinvestment Zone Number Ten (Lake Houston Zone) will approve amendments to the Project Plan and Reinvestment Zone Financing Plan for the Lake Houston Zone on November 15, 2018 and transmit the proposed Fifth Amended Project Plan and Reinvestment Zone Financing Plan (the “Amended Plan”) to the City for consideration by City Council. The Amended Plan will provide for the annexation of approximately 36.18 acres of public rights-of-way on Northpark Drive and a City-owned drainage easement located in Montgomery County, Texas. Northpark Drive will be reconstructed, which includes a grade separation at Loop 494. The construction will improve mobility in the Lake Houston Zone and provide an evacuation route during a major storm event as well as mitigate flooding in the area.
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