ORDINANCE relating to the Fiscal Affairs of OLD SIXTH WARD REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER THIRTEEN, CITY OF HOUSTON, TEXAS (OLD SIXTH WARD ZONE); approving the Fiscal Year 2022 Operating Budget for the Authority and the Fiscal Years 2022-2026 Capital Improvement Projects Budget for the Zone - DISTRICT H - CISNEROS

SUBJECT:  Approve the Fiscal Year 2022 Operating Budget for Old Sixth Ward Redevelopment Authority and Fiscal Years 2022 - 2026 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Thirteen, City of Houston, Texas (Old Sixth Ward Zone).    

RECOMMENDATION:

City Council adopt an ordinance approving the Fiscal Year 2022 Operating Budget for Old Sixth Ward Redevelopment Authority and the Fiscal Years 2022 - 2026 CIP Budget for Reinvestment Zone Number Thirteen, City of Houston, Texas (Old Sixth Ward Zone).

SPECIFIC EXPLANATION:

The Administration has undertaken a comprehensive review of the proposed FY22 TIRZ budgets and recommends approval of the FY22 Operating Budget for the Old Sixth Ward Redevelopment Authority (the Authority) and the FY22 – FY26 CIP Budget for Reinvestment Zone Number Thirteen, City of Houston, Texas (the Zone).

• The Total Operating Budget for FY22 is $3,562,479, which includes $1,340,560 for required fund transfers required by the triparty agreement between the City, Zone, and Authority; and the interlocal agreement between the Zone and the Houston Independent School District. The FY22 Budget also includes $2,221,919 for Project Costs committed to debt service and the planning, designing and construction of pedestrian improvements to enhance pedestrian safety and accessibility.
• The FY22 – FY26 CIP totals $7,075,000 and includes provisions for design and construction of pedestrian improvements, roadway and street reconstruction.  

• The FY22 Operating Budget includes $1,735,000 for capital expenditures and $151,250 for administration and overhead.  The Authority must advise the Chief Development Officer of any budget amendments. Adjustments to the budget that exceed $400,000 require City Council approval.

• The FY22 Operating Budget has a municipal services charge of $142,891.

Attachments: FY22 Operating Budget and FY22 - FY26 CIP Budget

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Andrew F. Icken, Chief Development Officer

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 Gwendolyn Tillotson                                          Phone: (832.393.0937)