ORDINANCE relating to the Fiscal Affairs of the SAINT GEORGE PLACE REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER ONE, CITY OF HOUSTON, TEXAS (SAINT GEORGE PLACE ZONE); approving the Fiscal Year 2021 Operating Budget for the Authority and the Fiscal Years 2021-2025 Capital Improvements Budget for the Zone - DISTRICTS G - TRAVIS and J - POLLARD

SPECIFIC EXPLANATION:

The administration has undertaken a comprehensive review of the proposed FY21 TIRZ budgets and recommends approval of the FY21 Operating Budget for the Saint George Place Redevelopment Authority (the “Authority”) and the FY21 - FY25 CIP Budget for Reinvestment Zone Number One (the “Zone”).

• Total Operating Budget for FY21 is $11,512,188 which includes $2,947,475 for fund transfers required by the tri-party agreement between the Zone, the Authority and the City and the interlocal agreement between the City, the Zone, the Authority and Houston Independent School District. 
  
  
• The Operating Budget also includes $6,797,600 for capital expenditures committed to regional flood mitigation, roadway reconstruction, sidewalk replacement and improvements; and $84,100 for administration and overhead.
  
  
• The Authority must advise the Chief Development Officer of any budget amendments. Adjustments to the budget that exceed $400,000 require City Council approval.

• The FY21 – FY25 CIP Budget totals $30,247,600 and includes provisions for regional flood mitigation, street reconstruction, and sidewalk improvements.

• The FY21 Operating Budget includes a municipal services cost payment in FY21 of $232,718 to pay for the incremental cost of providing services to the area.

_________________________________________________________

Andrew F. Icken, Chief Development Officer

 ________________________________________________________

 Gwendolyn Tillotson                                          Phone: (832.393.0937)