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CITY OF HOUSTON - CITY COUNCIL
Meeting Date: 9/22/2020
District E
Item Creation Date: 9/10/2020
MYR - FY21 TIRZ 10 Lake Houston
Agenda Item#: 16.
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| | | | | | | | Summary:
ORDINANCE relating to Fiscal Affairs of LAKE HOUSTON REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER TEN, CITY OF HOUSTON, TEXAS (LAKE HOUSTON ZONE); approving Fiscal Year 2021 Operating Budget for the Authority and the Fiscal Years 2021-2025 Capital Improvement Plan Budget for the Zone - DISTRICT E - MARTIN |
| | | | | | | | Background:
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 Lake Houston Redevelopment Authority and FY21 – FY25 CIP Budget for Reinvestment Zone Number Ten (Lake Houston Zone).
- Total Operating Budget for FY21 is $105,460,994 which includes $12,565,403 for required fund transfers and $92,895,591 for Project Costs.
- The FY21 Operating Budget includes $53,248,876 for capital expenditures primarily allocated toward the reconstruction of Northpark Drive Overpass Project. Intersection projects are also included to improve mobility in the Zone.
- The FY21 Operating Budget also includes $158,100 for administration and overhead and $12,216,223 in developer reimbursements for the construction of water/wastewater and drainage facilities.
- The FY21 Operating Budget includes a municipal services cost payment of $205,530 to pay for the incremental increase in the cost of providing municipal services to the area.
- The FY21 – FY25 CIP Budget totals $116,538,799 and includes recommended projects from the Kingwood Mobility Study: design and construction of mobility improvements at key intersections, proposed major thoroughfare improvements. The CIP Budget also includes a budget for drainage improvements.
- The Authority must advise the Chief Development Officer of any budget amendments. Adjustments to the Project Costs in the Operating Budget that exceed the lesser of $400,000 or 5% of Project Costs require City Council approval.
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Andrew F. Icken, Chief Development Officer |
| | | | | | | | Prior Council Action:
Ord. No. 2019-875; 11/13/2019 |
| | | | | | | | Amount and Source of Funding:
No funding required. |
| | | | | | | | Contact Information:
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Gwendolyn Tillotson Phone: (832.393.0937)
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