ORDINANCE relating to Fiscal Affairs of MEMORIAL-HEIGHTS REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER FIVE, CITY OF HOUSTON, TEXAS (MEMORIAL HEIGHTS ZONE); approving Fiscal Year 2023 Operating Budget for the Authority and Fiscal Years 2023-2027 Capital Improvement Project Budget for the Zone - DISTRICTS C - KAMIN and H - CISNEROS

Ordinance approving the Fiscal Year 2023 Operating Budget for the Memorial-Heights Redevelopment Authority and the Fiscal Years 2023 – 2027 Capital Improvement Projects (CIP) Budget for Reinvestment Zone Number Five, City of Houston, Texas (Memorial Heights Zone).

RECOMMENDATION:

 City Council adopt an ordinance approving the Fiscal Year 2023 (FY23) Operating Budget for the Memorial-Heights Redevelopment Authority and the Fiscal Years 2023 – 2027 (FY23-FY27) CIP Budget for Reinvestment Zone Number Five, City of Houston, Texas (Memorial Heights 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 Memorial-Heights Redevelopment Authority (the Authority) and approval of the FY23 – FY27 CIP Budget for Reinvestment Zone Number Five, City of Houston, Texas (Memorial Heights Zone).

• Total Operating Budget for FY23 is $35,002,137 which includes $692,787 for fund transfers required by the tri-party agreement between the City, the Memorial Heights Zone, and the Authority. 

• The FY23 Operating Budget also provides for $34,309,350 allocated towards Project Costs, including $29,930,000 for capital expenditures committed to the Shepherd and Durham street reconstruction project; the design of flood remediation plans associated with the North Canal Project; and the construction of pedestrian and bicycle facility improvements within the Zone.

• The FY23 Operating Budget allocates $400,000 for administration and overhead.

• The FY23 – FY27 CIP Budget totals $110,341,000 and includes provisions for the design and construction of pedestrian bridges, reconstruction of streets, hike and bike trails, Shepherd and Durham Reconstruction, and the North Canal Project.

• The Authority must advise the Chief Development Officer of any budget amendments.  Adjustments to the budget of $400,000 or more require City Council approval.

• The FY23 Operating Budget includes a municipal services cost payment of $160,652 to pay for the incremental cost of providing services to the area.

 Attachments: FY23 Operating Budget and FY23 - FY27 CIP Budget

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Andrew F. Icken, Chief Development Officer

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Gwendolyn Tillotson, Deputy Director

Mayor's Office

Phone: 832.393.0937