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CITY OF HOUSTON - CITY COUNCIL
Meeting Date: 9/29/2020
District C
Item Creation Date: 9/21/2020
MYR - FY21 TIRZ 27 Montrose
Agenda Item#: 27.
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| | | | | | | | Summary:
ORDINANCE relating to Fiscal Affairs of MONTROSE REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER TWENTY-SEVEN, CITY OF HOUSTON, TEXAS (MONTROSE ZONE); approving Fiscal Year 2021 Operating Budget for Authority and Fiscal Years 2021-2025 Capital Improvements Budget for the Zone - DISTRICT C - KAMIN |
| | | | | | | | Background:
SPECIFIC EXPLANATION:
The Administration has undertaken a comprehensive review of the proposed FY21 TIRZ budgets and recommends approval of the FY21 Operating Budget and the FY21 – FY25 CIP Budget for Reinvestment Zone Number Twenty-Seven (Montrose Zone).
- Total Operating Budget for FY21 is $5,539,321 which includes $380,962 for fund transfers required by the tri-party agreement between the Zone, Authority and the City, and $5,158,359 for project costs committed to improving sidewalks and addressing localized stormwater drainage issues.
- The FY21 Operating Budget also includes $119,000 for administration and overhead.
- The Budget includes a municipal services charge payment in FY21 of $196,546 to pay for the incremental cost of providing services to the area.
- The FY21 – FY25 CIP totals $14,174,359 and includes provisions for the construction of pedestrian mobility improvements and planning, design and construction of stormwater drainage improvements, and an assessment of affordable housing needs in the Zone.
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Andrew F. Icken, Chief Development Officer |
| | | | | | | | Prior Council Action:
Ord. No. 2019-808 – 10/23/2019 |
| | | | | | | | Amount and Source of Funding:
No Funding Required. |
| | | | | | | | Contact Information:
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Gwendolyn Tillotson Phone: (832.393.0937) |
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