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

SUBJECT:  Ordinance approving the Fiscal Year 2022 Operating Budget for the Fourth Ward Redevelopment Authority and the Fiscal Years 2022 - 2026 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Fourteen, City of Houston, Texas (Fourth Ward Zone).

RECOMMENDATION:

City Council adopt an Ordinance approving the Fiscal Year 2022 (FY22) Operating Budget for the Fourth Ward Redevelopment Authority and the Fiscal Years 2022 - 2026 (FY22 – FY26) CIP Budget for Reinvestment Zone Number Fourteen, City of Houston, Texas (Fourth Ward Zone).

SPECIFIC EXPLANATION:

The Administration has undertaken a comprehensive review of proposed FY22 TIRZ budgets and recommends approval of the FY22 Operating Budget for the Fourth Ward Redevelopment Authority (Authority) and the FY22 – FY26 CIP Budget for Reinvestment Zone Number Fourteen (Fourth Ward Zone).

• The Total Operating Budget for FY22 is $12,617,559, which includes $3,279,010 for required fund transfers and $9,338,549 for Project Costs committed to the roadway reconstruction and streetscape enhancement of multiple neighborhood streets along with the development of affordable housing in the Fourth Ward area.
  
  

• The FY22 Operating Budget also includes $251,700 for administration and overhead and a municipal services cost payment of $98,501 for the incremental cost of providing services to the area.
  
  

• The FY22 – FY26 CIP for the Zone totals $28,201,099. The CIP includes provisions for the design and construction of roadway and street reconstruction, pedestrian amenities, utility replacements/upgrades, historical monuments, and affordable housing.

The Authority must advise the Chief Development Officer of any budget amendments. Adjustments to the budget in excess of $400,000 require City Council approval.

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Andrew F. Icken, Chief Development Officer

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 Gwendolyn Tillotson                                          Phone: (832.393.0937)