ORDINANCE relating to Fiscal Affairs of GREATER GREENSPOINT REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER ELEVEN, CITY OF HOUSTON, TEXAS (GREENSPOINT 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

SUBJECT: Ordinance approving the Fiscal Year 2024 Operating Budget for the Greater Greenspoint Redevelopment Authority and Fiscal Years 2024-2028 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Eleven, City of Houston, Texas (Greenspoint Zone).

RECOMMENDATION:  Ordinance approving the Fiscal Year 2024 Operating Budget for the Greater Greenspoint Redevelopment Authority and Fiscal Years 2024-2028 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Eleven, City of Houston, Texas (Greenspoint 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 Greater Greenspoint Redevelopment Authority (the Authority) and Fiscal Years 2024-2028 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Eleven, City of Houston, Texas (Greenspoint Zone).

• Total Operating Budget for FY24 is $32,622,841 which includes $3,064,261 for required fund transfers and $29,558,580 for Project Costs primarily allocated to the construction of the Greenspoint Public Safety Campus and the expansion of the North Houston Skate Park/Dylan’s Park/Rockstar Energy Park sports complex.

• The FY24 Operating Budget also includes $309,600 for administration and overhead.

• The FY24 Operating Budget has a municipal services charge of $2,561,519.

• The FY24-FY28 CIP Budget totals $63,534,000 and includes provisions for the Greenspoint Public Safety Campus, Northborough Street drainage and sidewalk improvements, Greens Parkway Street and drainage improvements, Rankin Road drainage improvements, and sports complex improvements.

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

 Attachments: FY24 Operating Budget and FY24 - FY28 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