SUBJECT: Ordinance approving a First Amended Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Twenty-Six, City of Houston, Texas (Sunnyside Zone)
RECOMMENDATION:
City Council adopt an ordinance approving the First Amended Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Twenty-Six, City of Houston, Texas (Sunnyside Zone)
SPECIFIC EXPLANATION:
Reinvestment Zone Number Twenty-Six, City of Houston, Texas (“Sunnyside Zone”) was created by City Council (“City”) Ordinance No 2015-1092 on November 10, 2015. The City approved a Project Plan and Reinvestment Zone Financing Plan (the “Plan”) for the Zone by Ordinance No. 2020-1052, on December 9, 2020.
On October 15, 2021, the Board of Directors of the Zone approved a proposed First Amendment to Project Plan and Reinvestment Zone Financing Plan (the “Amended Plan”) and transmitted it for City Council consideration and approval. The Amended Plan provides for changes to the project cost schedule to include multi-modal infrastructure improvements, underground utilities, parks, community facilities and cultural amenities to improve infrastructure and quality of life in the Sunnyside area.
Pursuant to Chapter 311 of the Texas Tax Code, a public hearing was held on December 1, 2021. Accordingly, the Administration recommends that City Council approve the First Amendment to the Project Plan for the Zone.