ORDINANCE relating to Fiscal Affairs of OLD SPANISH TRAIL/ALMEDA CORRIDORS REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER SEVEN, CITY OF HOUSTON, TEXAS (OLD SPANISH TRAIL/ALMEDA CORRIDORS ZONE); approving Fiscal Year 2021 Operating Budget for the Authority and Fiscal Years 2021-2025 Capital Improvements Budget for the Zone - DISTRICT D - EVANS-SHABAZZ

SPECIFIC EXPLANATION:

The Administration has undertaken a comprehensive review of the proposed FY21 TIRZ budgets and recommends the approval of the FY21 Operating Budget for the OST/Almeda Corridors Redevelopment Authority (the Authority) and the approval of the FY21 - FY25 CIP Budget for Reinvestment Zone Number Seven (the OST/Almeda Corridors Zone).

• Total Operating Budget for FY21 is $46,705,673 which includes $2,819,780 for required fund transfers and $35,896,217 for capital expenditures committed to such projects as the reconstruction of Emancipation Avenue from Southmore Blvd. to Elgin St. and McGowen St. to Pierce St.; neighborhood street and underground utility reconstruction, street improvements on Old Spanish Trail between MLK and Calhoun to improve mobility and pedestrian access around the MacGregor Park and Tennis Center, and Emancipation Park performance stage and parking garage infrastructure.

• The FY21 Operating Budget also includes $794,500 for administration and overhead and $457,951 in developer reimbursements for the demolition, site remediation and new construction of a mixed use, mixed income development with retail space, 222 multi-family units, a parking garage and public street.

• The FY21 Operating Budget includes an Enhanced Public Safety Service fee of $150,000 and municipal services cost payment of $887,566 to the City to pay for the incremental cost of providing services to the area.  

• The FY21 - FY25 CIP Budget totals $82,344,185 and includes provisions for the design and construction of roadways and streets, parks, landscaping, cultural and public facilities improvements and land acquisition. 

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

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Andrew F. Icken, Chief Development Officer

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 Gwendolyn Tillotson                                          Phone: (832.393.0937)