ORDINANCE relating to the Fiscal Affairs of GREATER GREENSPOINT REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER ELEVEN, CITY OF HOUSTON, TEXAS (GREENSPOINT ZONE); approving Fiscal Year 2022 Operating Budget for the Authority and Fiscal Years 2022-2026 Capital Improvement Plan Budget for the Zone - DISTRICT B - JACKSON

Ordinance approving the Fiscal Year 2022 Operating Budget for the Greater Greenspoint Redevelopment Authority and the Fiscal Years 2022 – 2026 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Eleven, City of Houston, Texas (Greenspoint Zone).

RECOMMENDATION:

City Council adopt an ordinance approving the Fiscal Year 2022 (FY22) Operating Budget for the Greater Greenspoint Redevelopment Authority and the Fiscal Years 2022 – 2026 (FY22 – FY26) Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Eleven, City of Houston, Texas (Greenspoint 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 Greater Greenspoint Redevelopment Authority (the “Authority”) and the Fiscal Years 2022 – 2026 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Eleven, City of Houston, Texas (the “Zone”).

• Total Operating Budget for FY22 is $16,761,401 which includes $2,929,101 for required fund transfers, and $10,770,000 for project costs allocated toward the development of greenspace in the Greenspoint Mall area, Greens Road street and drainage improvements, and the design of the Greenspoint Public Safety Campus.

• The FY22 Operating Budget includes $283,300 for administration and overhead; and a municipal services cost payment of $2,561,519 to pay for the incremental cost of providing services to the area.

• The FY22 – FY26 CIP Budget totals $68,196,000 and includes provisions for street and drainage improvements, park improvements, streetscape improvements, erosion control, and a Public Safety Campus.

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

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Andrew F. Icken, Chief Development Officer

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 Gwendolyn Tillotson                                          Phone: (832.393.0937)