SPECIFIC EXPLANATION:
Reinvestment Zone Number Twenty-Seven, City of Houston, Texas (the “Zone”), was created by Ordinance No. 2015-1257, passed and adopted by City Council on December 9, 2015.
On November 30, 2020, the Board of Directors of the Zone approved a proposed First Amendment to Project Plan and Reinvestment Zone Financing Plan (the “Amended Plan”) and transmitted it for City Council consideration and approval. The Amended Plan includes the annexation of approximately 10 acres into the Zone and provides for construction of necessary public infrastructure that will lead to private capital investment in the area that respects the character and culture of Montrose, offers a corresponding increase in the tax base, and creates economic opportunity. The property description and notice of the public hearing were published on November 18, 2020.
Pursuant to Texas Tax Code Sections 311.003, 311.007 and 311.011, a public hearing on the Amended Plan was held on December 2, 2020.
________________________________________________________________________
Andrew F. Icken, Chief Development Officer