ORDINANCE relating to the Fiscal Affairs of TAX INCREMENT REINVESTMENT ZONE NUMBER TWENTY-SIX, CITY OF HOUSTON, TEXAS (SUNNYSIDE ZONE); approving Fiscal Year 2022 Operating Budget for the Zone and the Fiscal Years 2022-2026 Capital Improvement Plan Budget for the Zone - DISTRICT D - EVANS-SHABAZZ

This item should only be considered after passage of Item 8 above

SUBJECT:   Ordinance approving the Fiscal Year 2022 Operating Budget and the Fiscal Years 2022 - 2026 Capital Improvement Plan (CIP) for Tax Increment Reinvestment Zone Number Twenty – Six (Sunnyside Zone).

RECOMMENDATION:  City Council adopt an ordinance approving the Fiscal Year 2022 Operating Budget and Fiscal Years 2022 - 2026 Capital Improvement Plan (CIP) for Tax Increment Reinvestment Zone Number Twenty – Six (Sunnyside 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 Tax Increment Reinvestment Zone Number Twenty – Six (Sunnyside Zone).

• Total Operating Budget for FY22 is $974,672, which includes $44,922 for City administration fees and $500,000 for project costs related to improvements that will enhance economic development in the Sunnyside Zone.

• The Zone Board must advise the Chief Development Officer of any budget amendments. Adjustments to the Project Costs in the Operating Budget that exceed $400,000 require City Council approval.

• The FY22 Operating Budget does not have a municipal services charge.

• The FY22 - FY26 CIP Budget totals $3,485,000 and includes provisions for the design and construction of sidewalks, pedestrian mobility improvements, lighting, boulevard trails and beautification. 

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)