O2019 – 0814 ORDINANCE relating to the Fiscal Affairs of OLD SIXTH WARD REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER THIRTEEN, CITY OF HOUSTON, TEXAS (OLD SIXTH WARD ZONE); approving the Fiscal Year 2020 Operating Budget for the Authority and the Fiscal Years 2020-2024 Capital Improvement Projects Budget for the Zone - DISTRICT H - CISNEROS

SUBJECT:  Approve the Fiscal Year 2020 Operating Budget for Old Sixth Ward Redevelopment Authority and Fiscal Years 2020 - 2024 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Thirteen, City of Houston, Texas (Old Sixth Ward Zone).   

RECOMMENDATION:

City Council adopt an ordinance approving the Fiscal Year 2020 Operating Budget for Old Sixth Ward Redevelopment Authority and the Fiscal Years 2020 - 2024 CIP Budget for Reinvestment Zone Number Thirteen (Old Sixth Ward Zone).   

SPECIFIC EXPLANATION:

The Administration has undertaken a comprehensive review of the proposed FY20 TIRZ budgets and recommends approval of the FY20 Operating Budget for the Old Sixth Ward Redevelopment Authority (the Authority) and the FY20 – FY24 CIP Budget for Reinvestment Zone Number Thirteen (the Zone).

• The Total Operating Budget for FY20 is $3,281,709, which includes $1,199,239 for required fund transfers required by the triparty agreement between the City, Zone, and Authority; and the interlocal agreement between the Zone and the Houston Independent School District.  The FY20 Budget also includes $2,082,470 for Project Costs committed to debt service, a sanitary sewer project, and the construction of Dow School Park.

• The FY20 – FY24 CIP totals $6,435,000 and includes provisions for design and construction of roadway and street reconstruction, public utility improvements and parks.  
• The FY20 Operating Budget includes $1,630,000 for capital expenditures and $134,750 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.

• The FY20 Operating Budget has a municipal services charge of $142,891.

 
Attachments: FY20 Operating Budget and FY20 - FY24 CIP Budget

___________________________________________

Andrew F. Icken, Chief Development Officer

____________________________

Gwendolyn F. Tillotson          

Phone: (832) 393-0937