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CITY OF HOUSTON - CITY COUNCIL
Meeting Date: 9/26/2023
District H
Item Creation Date:
MYR- FY24 RCA TIRZ 21 Hardy Yards/Near Northside Zone
Agenda Item#: 34.
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| | | | | | | | Summary:
ORDINANCE relating to Fiscal Affairs of HARDY/NEAR NORTHSIDE REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER TWENTY-ONE, CITY OF HOUSTON, TEXAS (HARDY/NEAR NORTHSIDE ZONE); approving Fiscal Year 2024 Operating Budget for the Authority and the Fiscal Years 2024-2028 Capital Improvement Plan Budget for the Zone - DISTRICT H - CISNEROS |
| | | | | | | | Background:
SUBJECT: Ordinance approving the Fiscal Year 2024 Operating Budget for the Hardy/Near Northside Redevelopment Authority and the Fiscal Years 2024 – 2028 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Twenty-One, City of Houston, Texas (Hardy/Near Northside Zone).
RECOMMENDATION: City Council adopt an ordinance approving the Fiscal Year 2024 Operating Budget for Hardy/Near Northside Redevelopment Authority and the Fiscal Years 2024 – 2028 CIP Budget for Reinvestment Zone Number Twenty-One, City of Houston, Texas (Hardy/Near Northside Zone).
SPECIFIC EXPLANATION:
The Administration has undertaken a comprehensive review of the proposed FY24 TIRZ budgets and recommends approval of the FY24 Operating Budget for the Hardy/Near Northside Redevelopment Authority (the “Authority”) and the FY24 – FY28 CIP Budget for Reinvestment Zone Number Twenty-One (Hardy/Near Northside Zone).
- Total Operating Budget for FY24 is $3,280,514 which includes $894,560 for required transfers and $2,385,954 for Project Costs.
- The FY24 – FY28 CIP Budget totals $2,104,000 and includes provisions for street trees, bike lane implementation, and trail improvements.
- The FY24 Operating Budget includes $1,554,000 for capital expenditures and $98,300 for administration and overhead.
- The Authority must advise the Chief Development Officer of any budget amendments Adjustments to the budget that exceed the lesser of $400,000 or 5% of Project Costs require City Council approval.
Attachments: FY24 Operating Budget and FY24 – FY28 CIP Budget |
| | | | | | | | Prior Council Action:
Ord. No. 2022-681, 09/07/22 |
| | | | | | | | Amount and Source of Funding:
None |
| | | | | | | | Contact Information:
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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 |
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