SUBJECT: Ordinance approving the Fiscal Year 2020 Operating Budget for the Harrisburg Redevelopment Authority and Fiscal Years 2020 – 2024 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Twenty – Three, City of Houston, Texas (Harrisburg Zone).
RECOMMENDATION: City Council to adopt an ordinance approving the Fiscal Year 2020 (FY20) Operating Budget for the Harrisburg Redevelopment Authority and Fiscal Years 2020 – 2024 (FY20 – FY24) Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Twenty – Three, City of Houston, Texas (Harrisburg 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 Harrisburg Redevelopment Authority (the Authority) and Fiscal Years 2020 – 2024 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Twenty – Three, City of Houston, Texas (Harrisburg Zone).
• Total Operating Budget for FY20 is $3,398,217 which includes $436,790 for required fund transfers, and $2,961,427 for Project Costs primarily committed to mobility infrastructure improvements including roadways, bike lanes, sidewalks, trails, streetscape enhancements and intersection enhancements, the conversion of Rufus Cage into a cultural arts facility.
• The FY20 Operating Budget also includes $75,200 for administration and overhead, and $250,000 for developer reimbursement agreements for the design of water, waste water, and storm water infrastructure, streets, and streetscape enhancements as well as an economic developer agreement to rehabilitate and to redevelop 5 buildings into a 35,000 square foot multi-tenant work space with shared amenities.
• The FY20 Operating Budget has a municipal services charge of $325,016.
• The FY20 - FY24 CIP Budget totals $14,853,247 and includes provisions for the right of way acquisition for design and construction of roadways and sidewalks, trails and greenspace.
• The Zone must advise the Chief Development Officer of any budget amendments. Adjustments to the budget of $400,000 or more require City Council approval.
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Andrew F Icken, Chief Development Officer