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CITY OF HOUSTON - CITY COUNCIL
Meeting Date: 12/3/2019
District B
Item Creation Date: 11/21/2019
MYR - TIRZ 11 Greenspoint Project Plan Amend
Agenda Item#: 65.
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| | | | | | | | Summary:
ORDINANCE approving the fourth amended Project Plan and Reinvestment Zone Financing Plan for REINVESTMENT ZONE NUMBER ELEVEN, CITY OF HOUSTON, TEXAS (GREATER GREENSPOINT ZONE); authorizing the City Secretary to distribute such plans; extending the duration of the Zone to December 31, 2050 - DISTRICT B - DAVIS |
| | | | | | | | Background:
SUBJECT: An Ordinance to approve the fourth Amended Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Eleven (Greater Greenspoint Zone)
RECOMMENDATION: City Council adopt an ordinance to approve the fourth amendment to the Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Eleven (Greater Greenspoint Zone).
Specific Explanation:
City of Houston Tax Increment Reinvestment Zone Number Eleven (the “Zone”) was created by Ordinance No.1998-0713 on August 26, 1998. City Council approved a Project Plan and Reinvestment Zone Financing Plan (the “Plan”) for the Zone by Ordinance No.1999-0793, on July 28, 1999, and created the Greater Greenspoint Redevelopment Authority to implement the Plan via Resolution No. 1999-0040 on August 26, 1998. On August 11, 1999, City Council approved an Annexation Plan and the First Amendment to the Project Plan & Reinvestment Zone Financing Plan by Ordinances No. 1999-0853 and 1999-0826, respectively. City Council approved the Second Amendment to the Project Plan & Financing Plan (Ordinance No. 2008-0421) on November 6, 2013. On August 24, 2011, City Council approved an annexation by Ordinance 2011-0741. On December 2, 2015, Council approved the Third Amendment to the Project Plan & Financing Plan (Ordinance No. 2015-1163).
On November 14, 2019, the Board of Directors of the Zone approved a proposed Fourth 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, 2050 and will be coordinated with a proposed change to the boundaries of the Greater Greenspoint Zone to design and construct roadway and mobility improvements, storm water and flood remediation infrastructure projects, multi-modal connectivity, and community enhancement infrastructure improvements.
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 Fourth Amendment to the Project Plan for the Zone.
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Andrew F Icken, Chief Development Officer |
| | | | | | | | Prior Council Action:
Ord. No.1999-793, 07-28-99; Ord. No. 1999-0826, 8-11-99; Ord. No. 2008-421, 05-14-08; Ord. No 2015-1163, 12-02-15 |
| | | | | | | | Amount and Source of Funding:
No funding required |
| | | | | | | | Contact Information:
______ Gwendolyn Tillotson Phone 832.393.0938 |
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