Specific Explanation:
Reinvestment Zone Number Twenty-Six, City of Houston, Texas (“the Zone”) was created by City Council (“City”) by Ordinance No 2015-1092.
On November 30, 2020, the Board of Directors of the Zone approved a proposed Project Plan and Reinvestment Zone Financing Plan (the “Plan”) and transmitted it to City Council for consideration and approval. The Plan provides for the construction of public infrastructure necessary to facilitate residential and commercial development and redevelopment within the Zone boundaries while retaining the heritage and character of the Sunnyside area.
The Plan also anticipates the annexation of 972 acres of commercial and vacant land (to be considered by the Council in coordination with this proposed ordinance) located along the main corridors of the Zone as part of the Zone Board’s commercial corridor revitalization plan to attract major investment to the area. This will increase the size of the Zone to approximately 4,124 acres.
Pursuant to Chapter 311 of the Texas Tax Code, a public hearing regarding the annexation was held on December 2, 2020.
The Administration recommends that City Council approve the Project Plan and Reinvestment Zone Financing Plan for the Zone.
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Andrew F. Icken, Chief Development Officer