ORDINANCE relating to Fiscal Affairs of HARDY/NEAR NORTHSIDE REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER TWENTY-ONE, CITY OF HOUSTON, TEXAS (HARDY/NEAR NORTHSIDE ZONE); approving Fiscal Year 2023 Operating Budget for the Authority and Fiscal Years 2023-2027 Capital Improvement Plan Budget for the Zone  DISTRICT H - CISNEROS

SUBJECT:  Ordinance approving the Fiscal Year 2023 (FY23) Operating Budget for the Hardy/Near Northside Redevelopment Authority and the Fiscal Years 2023 - 2027 (FY23-FY27) Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Twenty-One, City of Houston, Texas (Hardy/Near Northside Zone).  

RECOMMENDATION:

City Council adopt an ordinance approving the Fiscal Year 2023 (FY23) Operating Budget for the Hardy/Near Northside Redevelopment Authority and the Fiscal Years 2023 – 2027 (FY23-FY27) CIP Budget for Reinvestment Zone Number Twenty-One, City of Houston, Texas (Hardy/Near Northside Zone).

 SPECIFIC EXPLANATION:

The Administration has undertaken a comprehensive review of the proposed FY23 TIRZ budgets and recommends approval of the FY23 Operating Budget for the Hardy/Near Northside Redevelopment Authority (the “Authority”) and the Fiscal Years 2023 - 2027 CIP Budget for Reinvestment Zone Number Twenty-One, City of Houston, Texas (Hardy/Near Northside Zone).

• Total Operating Budget for FY23 is $2,179,848 which includes $623,006 for fund transfers required by the tri-party agreement and the affordable housing agreements between the City, the Hardy/Near Northside Zone, and the Authority.

• The FY23 Operating Budget provides for the transfer of $541,744 to the City’s Housing and Community Development Department for Affordable Housing.

• The FY23 Operating Budget project costs total $1,556,842, including an estimated developer reimbursement of $360,542 for street and intersection improvements,  $92,300 for administration and overhead, and $919,000 for pedestrian and bicycle safety improvements.

• The FY23 – FY27 CIP Budget totals $1,723,000 and includes the Pickney Street Hike and Bike Trail, and multiple sidewalk and bicycle safety improvements.

• 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. 2021-779

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Gwendolyn Tillotson, Deputy Director

Mayor's Office

Phone: 832.393.0937