ORDINANCE relating to Fiscal Affairs of FOURTH WARD REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER FOURTEEN, CITY OF HOUSTON, TEXAS (FOURTH WARD ZONE); approving Fiscal Year 2023 Operating Budget for the Authority and Fiscal Years 2023-2027 Capital Improvement Projects Budget for the Zone - DISTRICT C - KAMIN

SUBJECT: Ordinance approving the Fiscal Year 2023 Operating Budget for the Fourth Ward Redevelopment Authority and the Fiscal Years 2023 - 2027 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Fourteen, City of Houston, Texas (Fourth Ward Zone).

RECOMMENDATION:

City Council adopt an Ordinance approving the Fiscal Year 2023 (FY23) Operating Budget for the Fourth Ward Redevelopment Authority and the Fiscal Years 2023 - 2027 (FY23 – FY27) CIP Budget for Reinvestment Zone Number Fourteen, City of Houston, Texas (Fourth Ward 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 Fourth Ward Redevelopment Authority (Authority) and the FY23 – FY27 CIP Budget for Reinvestment Zone Number Fourteen (Fourth Ward Zone).

• Total Operating Budget for FY23 is $15,256,180, which includes $2,851,046 for required fund transfers as required by the tri-party agreement between the City, the Zone, and the Authority.  The FY23 Operating Budget also includes $12,405,134 for project costs committed to neighborhood street reconstruction and the development of affordable housing in the Zone.

• The FY23 – FY27 CIP Budget totals $31,282,984 and includes provisions for the design and construction of neighborhood street reconstruction and the development of affordable housing.

• The FY23 Operating Budget includes $328,550 for administration and overhead. The Authority 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 FY23 Operating Budget includes a municipal services cost payment of $98,501 for the incremental cost of providing services to the area.

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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