SUBJECT: Ordinance approving the amendment to 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 amendment to the Fiscal Year 2022 (FY22) Amended 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).
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On September 22, 2021, City Council passed Ordinance 2021-823 and adopted the FY22 Operating Budget for the Fourth Ward Redevelopment Authority; the highlights of that budget are as follows:
- The ordinance reflected an Operating Budget for FY22 of $12,617,559 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.
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This amended budget includes a $250,000 decrease to City affordable housing and an increase of $250,000 to the Fourth Ward AH Program for costs associated with the redevelopment of 3 Row Houses. This amendment allows for the preservation and relocation of row houses to create a full block of historic homes. It also allows for the Authority to plan, design and construct additional affordable housing on land made available by the relocation.