ORDINANCE relating to Fiscal Affairs of UPPER KIRBY REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER NINETEEN, CITY OF HOUSTON, TEXAS (UPPER KIRBY ZONE); approving Fiscal Year 2023 Operating Budget for the Authority and Fiscal Years 2023-2027 Capital Improvement Plan Budget for the Zone - DISTRICTS C - KAMIN and  G - HUFFMAN

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

 RECOMMENDATION: City Council adopt an ordinance approving the Fiscal Year 2023 (FY23) Operating Budget for Upper Kirby Redevelopment Authority and the Fiscal Years 2023 – 2027 (FY23 – FY27) CIP Budget for Reinvestment Zone Number Nineteen, City of Houston, Texas (Upper Kirby Zone).

 SPECIFIC EXPLANATION:

The Administration has undertaken a comprehensive review of proposed FY23 TIRZ budgets and recommends approval of the FY23 Operating Budget for Upper Kirby Redevelopment Authority (the “Authority”) and the FY23 - FY27 CIP Budget for Reinvestment Zone Number Nineteen (the “Zone”).

• Total Operating Budget for FY23 is $22,192,613, which includes $3,852,043 for required fund transfers and $18,340,570 for Operating and Project Costs committed to the construction of Shepherd Drainage system improvements and the reconstruction of West Alabama from Buffalo Speedway to Shepherd.

• The FY23 Operating budget also includes $173,000 for administration and overhead, and a municipal services cost payment in FY23 of $3,025,573 to pay for the incremental cost of providing services to the area.

• The FY23 – FY27 CIP Budget totals $65,870,505 and includes provisions for the design and construction of roadway improvements, drainage system improvements and park facilities.

• The Authority must advise the Chief Development Officer of any budget amendments. Budget amendments that involve an increase, decrease or adjustment of $400,000 or more require City Council approval.

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