ORDINANCE relating to Fiscal Affairs of GREATER GREENSPOINT REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER ELEVEN, CITY OF HOUSTON, TEXAS (GREENSPOINT ZONE); approving Fiscal Year 2021 Operating Budget for the Authority and Fiscal Years 2021-2025 Capital Improvement Plan Budget for the Zone - DISTRICT B - DAVIS

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 Greater Greenspoint Redevelopment Authority (the “Authority”) and the Fiscal Years 2021 – 2025 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Eleven (the “Zone”).

• Total Operating Budget for FY21 is $12,138,112 which includes $2,928,709 for required fund transfers, and $9,209,403 for project costs committed to the completion of the North Houston Bike Park project, the design of the Greenspoint Public Safety Campus, and debt service payments.

•  The FY21 Operating Budget includes $262,700 for administration and overhead; and a municipal services cost payment of $2,561,519 to pay for the incremental cost of providing services to the area.

• The FY21 – FY25 CIP Budget totals $33,480,000 and includes provisions for street and drainage improvements, park improvements, streetscape improvements, erosion control, and a Public Safety Campus.

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

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Andrew F. Icken, Chief Development Officer

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 Gwendolyn Tillotson                                          Phone: (832.393.0937)