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CITY OF HOUSTON - CITY COUNCIL
Meeting Date: 9/26/2023
District B
Item Creation Date:
MYR- FY24 RCA TIRZ 22 Leland Woods
Agenda Item#: 35.
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| | | | | | | | Summary:
ORDINANCE relating to Fiscal Affairs of LELAND WOODS REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER TWENTY-TWO, CITY OF HOUSTON, TEXAS (LELAND WOODS ZONE); approving Fiscal Year 2024 Operating Budget for the Authority and Fiscal Years 2024-2028 Capital Improvement Plan Budget for the Zone - DISTRICT B - JACKSON |
| | | | | | | | Background:
SUBJECT: Ordinance approving the Fiscal Year 2024 Operating Budget for the Leland Woods Redevelopment Authority and Fiscal Years 2024-2028 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Twenty-Two, City of Houston, Texas (Leland Woods Zone).
RECOMMENDATION: City Council to adopt an ordinance approving the Fiscal Year 2024 Operating Budget for the Leland Woods Redevelopment Authority and Fiscal Years 2024-2028 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Twenty-Two, City of Houston, Texas (Leland Woods 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 Leland Woods Redevelopment Authority (the Authority) and Fiscal Years 2024-2028 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Twenty-Two, City of Houston, Texas (Leland Woods Zone).
- Total Operating Budget for FY24 is $1,083,868 which includes $70,568 for required fund transfers, and $1,013,300 for Project Costs primarily committed to mobility and drainage improvements.
- The FY24 Operating Budget also includes $33,500 for administration and overhead, and $70,300 for a developer reimbursement agreement with Contempo Builders.
- The FY24-FY28 CIP Budget totals $2,737,500 and includes provisions for multi-street mobility and drainage improvements, street signage improvements, concrete panel replacements, and civic art.
- 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.2022-691, 09/07/2022 |
| | | | | | | | 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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