ORDINANCE relating to Fiscal Affairs of LELAND WOODS REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER TWENTY-TWO, CITY OF HOUSTON, TEXAS (LELAND WOODS ZONE); approving Fiscal Year 2023 Operating Budget for the Authority and Fiscal Years 2023-2027 Capital Improvement Plan Budget for the Zone - DISTRICT B - JACKSON

SUBJECT: Ordinance approving the Fiscal Year 2023 Operating Budget for Leland Woods Redevelopment Authority and the Fiscal Years 2023 – 2027 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Twenty–Two, City of Houston, Texas (Leland Woods Zone).

 RECOMMENDATION:

City Council adopt an ordinance approving the Fiscal Year 2023 Operating Budget for Leland Woods Redevelopment Authority and the Fiscal Years 2023 – 2027 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Twenty – Two, City of Houston, Texas (Leland Woods Zone).

 SPECIFIC EXPLANATION:

The Administration has undertaken a comprehensive review of proposed Fiscal Year 2023 (FY23) TIRZ budgets and recommends approval of the FY23 Operating Budget for Leland Woods Redevelopment Authority (the “Authority”) and the FY23-FY27 CIP Budget for Reinvestment Zone Number Twenty – Two, City of Houston, Texas (Leland Woods Zone).

• Total Operating Budget for FY23 is $444,705 which includes $13,905 for fund transfers as required by the tri-party agreement between the City, the Leland Woods Zone and the Authority, and $430,800 for Project Costs of which $70,300 is committed to an estimated developer reimbursement for street and sidewalk improvements.
  
  

• The FY23 Operating Budget includes $33,500 for administration and overhead.
  
  

• The FY23 – FY27 CIP Budget totals $250,000 and includes multiple street projects throughout the Leland Woods Zone to provide immediate community impact with mobility improvements such as panel replacements; striping; forming curb, ramps, and sidewalks; and asphalt repairs. The CIP Budget also includes $25,000 for civic art.
  
  
• The Authority must advise the Chief Development Officer of any budget amendments. Adjustments to the budget that exceed the lesser of $400,000 or 5% of Project Costs require City Council approval.
  
  

• The FY23 Operating Budget does not have a municipal services charge.

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Andrew F. Icken, Chief Development Officer

PCA Ord. No. 2021-766

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Gwendolyn Tillotson, Deputy Director

Mayor's Office

Phone: 832.393.0937