O2019-0854 ORDINANCE relating to the Fiscal Affairs of the SOUTHWEST HOUSTON REDEVELOPMENT AUTHORITY on behalf of REINVESTMENT ZONE NUMBER TWENTY, CITY OF HOUSTON, TEXAS (SOUTHWEST HOUSTON ZONE); approving the Fiscal Year 2020 Operating Budget for the Authority and the Fiscal Years 2020-2024 Capital Improvement Plan Budget for the Zone - DISTRICTS F - LE and J - LASTER

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


RECOMMENDATION:
City Council adopt an ordinance approving the Fiscal Year 2020 Operating Budget for Southwest Houston Redevelopment Authority and the Fiscal Years 2020-2024 Capital Improvement Plan (CIP) for Reinvestment Zone Number Twenty (Southwest Houston 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 Southwest Houston Redevelopment Authority (the “Authority”) and the FY20 - FY24 CIP for Reinvestment Zone Number Twenty (the “Zone”).

• Total Operating Budget for FY20 is $17,620,849 which includes $2,798,140 for required fund transfers and $14,822,709 for Project Costs primarily committed to the construction of a detention basin, improvements to Harwin Dr. from Fondren Rd. to Gessner Rd. that will include a center turning lane, changes to existing signals and improved drainage, the reconstruction of Corporate Dr. from Beechnut St. to Bellaire Blvd, and concrete panel replacement throughout the Zone to extend the life of roads.

• The FY20 Operating Budget also includes $144,100 for administration and overhead and a municipal services charge payment in FY20 of $2,311,587 to pay for the incremental cost of providing services to the area.

• The FY20 – FY24 CIP Budget totals $66,538,480 and includes provisions for street reconstruction, drainage and detention improvements; redevelopment of Sharpstown Mall, Sharpstown Park and the Lee LeClear Tennis Center.

• The Authority must advise the Chief Development Officer of any budget amendments. Adjustments to the Project Costs in the Operating Budget that exceed $400,000 require City Council approval.


_________________________________________________________
Andrew F Icken, Chief Development Officer

________ Gwendolyn Tillotson     

Phone. 832.393.0937