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CITY OF HOUSTON - CITY COUNCIL
Meeting Date: 10/24/2023
ALL
Item Creation Date: 10/3/2023
HCD23-121 FY2024 TIRZ Affordable Housing Fund Appropriation
Agenda Item#: 22.
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| | | | | | | | Summary:
ORDINANCE appropriating $13,970,315.00 in Tax Increment Reinvestment Zone Affordable Housing Funds to support Housing and Community Development Department’s Affordable Housing Activities and to create a greater impact for low- and moderate-income persons and communities |
| | | | | | | | Background:
The Housing and Community Development Department (HCD) recommends Council authorize an Ordinance approving an appropriation of $13,970,315.00 in TIRZ Affordable Housing Funds (2409) to support HCD’s affordable housing activities. TIRZ Affordable Housing funds are often leveraged with federal funding to create a greater impact for low- and moderate-income persons and communities.
Housing developments are selected through a competitive and transparent process. Specific contracts will be brought to City Council in the near future for approval and allocation, in accordance with local procurement rules.
This Ordinance appropriates funds for direct program activities and administration. A brief description of each TIRZ funding category follows.
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Category
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Total Amount
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Description
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Disaster Recovery Program
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$7,000,000.00
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Funding for disaster recovery program costs deemed ineligible and/or disallowed
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Affordable Housing Administration & Federal /State Grant Leveraging
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$5,670,315.00
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Administrative costs for administering local, state, and federal funded activities by HCD
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Information Technology
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$200,000.00
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Expenditures related to information technology other than HITS Chargebacks
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Rent
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$900,000.00
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Office Space for HCD (2100 Travis)
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Homelessness
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$200,000.00
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Efforts leading to permanent housing for homeless individuals and families
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Total
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$13,970,315.00
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Fiscal Note:
No significant Fiscal Operating impact is anticipated as a result of this project.
This item was reviewed by the Housing and Community Affairs Committee on October 17, 2023.
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Keith W. Bynam, Director |
| | | | | | | | Amount and Source of Funding:
$13,970,315.00
TIRZ Affordable Housing Fund
Fund 2409 |
| | | | | | | | Contact Information:
Roxanne Lawson, Division Manager
Housing and Community Development Department
Phone: (832) 394-6307 |
| ATTACHMENTS: | | Description | Type | | Cover Sheet | Signed Cover sheet |
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