SUBJECT: ORDINANCE approving, and authorizing Interlocal Agreement is made and entered into pursuant to the Interlocal Cooperation Act, Texas Government Code §791.001 et seq., as amended, by and between Houston First Corporation (HFC) and the City of Houston (City).
RECOMMENDATION:
City Council adopt an ordinance authorizing execution of an a Interlocal Agreement between Houston First Corporation (HFC) and the City of Houston (City).
SPECIFIC EXPLANATION:
On June 6, 2011, the City of Houston and Houston First Corporation (HFC) entered into an agreement to lease various City facilities to HFC including Jones Hall. Pursuant to the Lease Agreement, HFC has the right to make capital improvements to City facilities covered by the Lease Agreement including Jones Hall.
HFC has previously facilitated the Jones Hall Foundation in its process of renovating Jones Hall to upgrade the acoustics, infrastructure, safety and audience accessibility and amenities by permitting entry into Jones Hall by the Foundation and its contractors and consultants.
City and HFC desire to enter into this Interlocal Agreement to improve the quality of the experience at Jones Hall. The City desires to contribute and transfer $2.5 million to the management and implementation of the Project.
FISCAL NOTE:
Funding for this item is not included in the FY2023 Adopted Budget. Therefore, a Fiscal Note is required as stated in the financial Policies.
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Andrew F. Icken, Chief Development Officer
Estimated Fiscal Operating Impact
|
Recurring or One-Time
|
One-Time
|
|
Fund Name
|
Current Fiscal Year
|
Outyear 1
|
Outyear 2
|
Outyear 3
|
Outyear 4
|
Total
|
|
General Government General Fund
|
$2,500,000.00
|
|
|
|
|
$2,500,000.00
|
|
Total
|
$2,500,000.00
|
$ -
|
$ -
|
$ -
|
$ -
|
$2,500,000.00
|