ORDINANCE relating to Fiscal Affairs of UPTOWN DEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER SIXTEEN, CITY OF HOUSTON, TEXAS (UPTOWN ZONE); approving Fiscal Year 2021 Operating Budget for the Authority and Fiscal Years 2021-2025 Capital Improvements Budget for the Zone - DISTRICTS C - KAMIN; 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 Uptown Development Authority (the “Authority”) and the Fiscal Years 2021 – 2025 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Sixteen (the “Zone”).

• Total Operating Budget for FY21 is $80,271,138 which includes $28,743,018 for required fund transfers and $51,528,120 for Project Costs committed to the completion of Post Oak Boulevard Reconstruction and the redevelopment and implementation of the Memorial Park Master Plan.

• The FY21 Operating Budget also includes $343,000 for administration/overhead and a municipal services cost payment in FY21 of $5,272,994 to pay for the incremental cost of providing services to the area and $250,000 for supplemental debt service payments.

• The FY21 – FY25 CIP totals $102,137,750 and includes provisions for the design and construction of a multi modal transit terminal, development and implementation of a master plan for Memorial Park and infrastructure upgrades.

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

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Andrew F. Icken, Chief Development Officer

Ord. No. 2019-922, 11/20/2019

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 Gwendolyn Tillotson                                          Phone: (832.393.0937)