SPECIFIC EXPLANATION:
City of Houston Tax Increment Reinvestment Zone Number Fourteen (the “Zone”) was created by Ordinance No.1999-0565 on June 9, 1999. City Council approved a Project Plan and Reinvestment Zone Financing Plan (the “Plan”) for the Zone by Ordinance No.1999-0818, on July 28, 1999, and created the Fourth Ward Redevelopment Authority to implement the Plan via Resolution No. 1999-0069 on December 15, 1999. On December 12, 2007, City Council approved an Annexation Plan and the First Amendment to the Project Plan & Reinvestment Zone Financing Plan by Ordinances No. 2007-1439 and 2007-1440, respectively. City Council approved an annexation and the Second Amendment to the Project Plan & Financing Plan (Ordinance No. 2013-0979 and Ordinance No. 2013-0980 respectively) on November 6, 2013. An annexation and Third Amendment to the Project Plan and Financing Plan (Ordinance 2019-989 and Ordinance No. 2019-990) was approved by Council on December 4, 2019.
On November 24, 2020, the Board of Directors of the Zone approved a proposed Fourth Amendment to Project Plan and Reinvestment Zone Financing Plan (the “Amended Plan”) and transmitted it for City Council consideration and approval. The Amended Plan, which will be coordinated with a proposed change to the boundaries of the Fourth Ward Zone to include Sam Houston Park and adjacent commercial properties to support historic preservation and maintenance of structures in the Park. The Plan will also include a life extension of 20 years for the Zone to December 31, 2049 to support public infrastructure including roadways, water, sewer and drainage; cultural facilities improvements, historic preservation; affordable housing initiatives; and parks, trails and pedestrian connections and improvements.
Pursuant to Chapter 311 of the Texas Tax Code Sections 311.003, 311.007 and 311.010, a public hearing was held on December 2, 2020. Accordingly, the Administration recommends that City Council approve the Fourth Amendment to the Project Plan for the Zone.
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Andrew F. Icken, Chief Development Officer