SUBJECT: ORDINANCE approving and authorizing an Interlocal Agreement with Houston First Corporation (HFC) to repair and/or replace decorative lighting on the Southwest Freeway bridges in the downtown corridor (“Project’).
RECOMMENDATION:
City Council adopt an ordinance authorizing execution of an Interlocal Agreement between Houston First Corporation (HFC) and the City of Houston (City).
SPECIFIC EXPLANATION:
Houston First Corporation will enter into an interlocal agreement with the City of Houston to repair and/or replace the decorative lighting on the Southwest Freeway bridges in the downtown corridor (“Project”).
The City desires to fund 2/3rds of the estimated $4,000,000 project cost, $2,660,000, for the design and construction. HFC will be responsible for any cost overruns on new installation and for maintenance over the next 10 years.
FISCAL NOTE:
Funding for this item is not included in the FY2024 Adopted Budget. Therefore, a Fiscal Note is required as stated in the Financial Policies.
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Andy F. Icken, Chief Development Officer
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Estimated Fiscal Operating Impact
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Recurring or One-Time
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One Time
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Fund Name
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Current Fiscal Year
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Outyear
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Total
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General Fund
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$2,660,000.00
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$0
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$2,660,000.00
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Total
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$2,660,000.00
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$0
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$2,660,000.00
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