ORDINANCE relating to the Fiscal Affairs of the OLD SIXTH WARD REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER THIRTEEN, CITY OF HOUSTON, TEXAS (OLD SIXTH WARD ZONE); approving the Fiscal Year 2021 Operating Budget for the Authority and the Fiscal Years 2021-2025 Capital Improvement Projects Budget for the Zone - DISTRICT H - CISNEROS

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 Old Sixth Ward Redevelopment Authority (the Authority) and the FY21 – FY25 CIP Budget for Reinvestment Zone Number Thirteen (the Zone).

• The Total Operating Budget for FY21 is $4,241,159, which includes $1,248,941 for required fund transfers required by the triparty agreement between the City, Zone, and Authority; and the interlocal agreement between the Zone and the Houston Independent School District. The FY21 Budget also includes $2,992,218 for Project Costs committed to debt service, a sanitary sewer project, and the construction of Dow School Park.
  
  
• The FY21 – FY25 CIP totals $6,945,000 and includes provisions for design and construction of roadway and street reconstruction, public utility improvements and parks.  

• The FY21 Operating Budget includes $2,510,000 for capital expenditures and $142,750 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 Operating Budget has a municipal services charge of $142,891.

Attachments: FY21 Operating Budget and FY21 - FY25 CIP Budget

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Andrew F. Icken, Chief Development Officer

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 Gwendolyn Tillotson                                          Phone: (832.393.0937)