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CITY OF HOUSTON - CITY COUNCIL
Meeting Date: 12/3/2019
District B
Item Creation Date: 11/21/2019
MYR - TIRZ 18 Fifth Ward Project Plan Amend
Agenda Item#: 69.
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| | | | | | | | Summary:
ORDINANCE approving a third amended Project Plan and Reinvestment Zone Financing Plan for REINVESTMENT ZONE NUMBER EIGHTEEN, CITY OF HOUSTON, TEXAS (FIFTH WARD ZONE); authorizing the City Secretary to distribute such plans; extending the duration of the Zone to December 31, 2049 - DISTRICT H - CISNEROS |
| | | | | | | | Background:
SUBJECT: An Ordinance to approve the third Amended Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Eighteen (Fifth Ward Zone)
RECOMMENDATION: City Council adopt an ordinance to approve the third amendment to the Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Eighteen (Fifth Ward Zone).
Specific Explanation:
City of Houston Tax Increment Reinvestment Zone Number Eighteen (the “Zone”) was created by Ordinance No.1999-0766 on July 21, 1999. City Council approved a Project Plan and Reinvestment Zone Financing Plan (the “Plan”) for the Zone by Ordinance No.1999-0795, on July 28, 1999, and created the Fifth Ward Redevelopment Authority to implement the Plan via Resolution No. 2001-0023 on May 9, 2001. On May 9, 2001, City Council approved a boundary clarification to the Zone. On September 3, 2008, Council approved an Annexation Plan and the First Amendment to the Project Plan & Reinvestment Zone Financing Plan by Ordinances No. 2008-0765 and 2008-0766, respectively. City Council approved an annexation and the Second Amendment to the Project Plan & Financing Plan (Ordinance No. 2015-1207 and Ordinance No. 2015-1208 respectively) on December 5, 2015.
On November 19, 2019, the Board of Directors of the Zone approved a proposed Third Amendment to Project Plan and Reinvestment Zone Financing Plan (the “Amended Plan”) and transmitted it for City Council consideration and approval. The Amended Plan includes the extension of the life of the zone to December 31, 2049 and will be coordinated with a proposed change to the boundaries of the Fifth Ward Zone to improve infrastructure, drainage, roadways, parks, and housing in the area.
Pursuant to Chapter 311 of the Texas Tax Code Sections 311.003, 311.007 and 311.011, a public hearing was held on November 20, 2019. Accordingly, the Administration recommends that City Council approve the Third Amendment to the Plan for the Zone.
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Andrew F Icken, Chief Development Officer |
| | | | | | | | Prior Council Action:
Ord. No.1999-0766, 07/21/99; Ord. No. 1999-0795, 07/28/99; Res. No. 2001-0023, 05/09/01; Ord. No. 2001-0404, 05/09/01; Ord. No. 2008-0765, 09/03/08; Ord. No. 2008-0766, 09/03/08; Ord. No. 2015-1207, 12/2/15; Ord. No. 2015-1206, 12/2/15 |
| | | | | | | | Amount and Source of Funding:
No funding required |
| | | | | | | | Contact Information:
_____ Gwendolyn Tillotson Phone 832.393.0937 |
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