O2019 – 0808 ORDINANCE relating to the Fiscal Affairs of the MONTROSE REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER TWENTY-SEVEN, CITY OF HOUSTON, TEXAS (MONTROSE ZONE); approving the Fiscal Year 2020 Operating Budget for the Authority and the Fiscal Years 2020-2024 Capital Improvements Budget for the Zone - DISTRICT C - COHEN

SUBJECT: Ordinance approving the Fiscal Year 2020 (FY20) Operating Budget and the Fiscal Years 2020 – 2024 (FY20 – FY24) Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Twenty – Seven, City of Houston, Texas (Montrose Zone)

RECOMMENDATION:

City Council adopt an ordinance approving the Fiscal Year 2020 (FY20) Operating Budget and Fiscal Years 2020 – 2024 (FY20-FY24) CIP Budget for Reinvestment Zone Number Twenty – Seven, City of Houston, Texas (Montrose Zone).

SPECIFIC EXPLANATION:

The Administration has undertaken a comprehensive review of the proposed FY20 TIRZ budgets and recommends approval of the FY20 Operating Budget and the FY20 – FY24 CIP Budget for Reinvestment Zone Number Twenty-Seven (Montrose Zone).

• Total Operating Budget for FY20 is $1,365,658 which includes $361, 299 for fund transfers required by the tri-party agreement between the Zone, Authority and the City, and $1,004,359 for project costs committed to improving sidewalks and addressing localized stormwater drainage issues.

• The FY20 Operating Budget also includes $89,000 for administration and overhead.

• The Budget includes a municipal services charge payment in FY20 of $196,546 to pay for the incremental cost of providing services to the area.

   

• The FY20 – FY24 CIP totals $2,525,359 and includes provisions for the construction of pedestrian mobility improvements and planning, design and construction of stormwater drainage improvements.

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Andrew F. Icken, Chief Development Officer

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Gwendolyn F. Tillotson          

Phone: (832) 393-0937