SUBJECT: Approval of an ordinance to annex additional territory into Reinvestment Zone Number Seventeen (Memorial City Zone).
RECOMMENDATION: City Council adopt an ordinance to change the boundaries of Reinvestment Zone Number Seventeen (Memorial City Zone) by removing certain property from the Zone and adding certain property to the Zone.
SPECIFIC EXPLANATION:
City of Houston Tax Increment Reinvestment Zone Number Seventeen (the “Zone”) was created by Ordinance No. 1999-0759 on July 21, 1999. City Council approved a Project Plan and Reinvestment Zone Financing Plan (the “Plan”) for the Zone via Ordinance No. 1999-0852, on August 11, 1999, and created the Memorial City Redevelopment Authority via Resolution No. 2002-0026, on August 14, 2002, to help implement the Plan. City Council approved annexation and the First Amendment to the Project Plan & Financing Plan (Ordinance No. 2011-0727 and Ordinance No. 2011-0728) respectively on August 17, 2011. City Council approved annexation and the 2nd Amendment to the Project Plan & Financing Plan (Ordinance No. 2014-1129 and Ordinance No. 2014-1130) respectively on December 18, 2014. The annexation and third Amendment to the Project Plan & Financing Plan (Ordinance No. 2017-629 and Ordinance No. 2017-630 respectively) were approved by City Council on August 16, 2017.
It is recommended that City Council annex into the Zone approximately 1.99 acres of right-of-way along Beltway 8 Frontage Road between Memorial Drive and Terry Hershey Park Hike and Bike Trail.
The annexation of this area into the Zone will allow for the construction of pedestrian safety improvements and provide improved access to Terry Hershey Park.
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Andrew F. Icken, Chief Development Officer