ORDINANCE relating to Fiscal Affairs of SAINT GEORGE PLACE REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER ONE, CITY OF HOUSTON, TEXAS; approving Fiscal Year 2024 Operating Budget for the Authority and Fiscal Years 2024-2028 Capital Improvements Budget for the Zone - DISTRICT J - POLLARD

The administration has undertaken a comprehensive review of the proposed FY24 TIRZ budgets and recommends approval of the FY24 Operating Budget for the Saint George Place Redevelopment Authority (the “Authority”) and the FY24 - FY28 CIP Budget for Reinvestment Zone Number One (the “Zone”).

• Total Operating Budget for FY24 is $17,772,041 which includes $3,720,735 for fund transfers required by the tri-party agreement between the Zone, the Authority and the City and the interlocal agreement between the City, the Zone, the Authority and Houston Independent School District.

•  The Operating Budget also includes $11,501,993 for capital expenditures committed to regional flood mitigation, roadway reconstruction, sidewalk replacement and improvements; and $101,200 for administration and overhead.

•  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.

•  The FY24 – FY28 CIP Budget totals $28,604,743 and includes provisions for regional flood mitigation, street reconstruction, and sidewalk improvements.

• The FY24 Operating Budget includes a municipal services cost payment in FY24 of $232,718 to pay for the incremental cost of providing services to the area.

Attachments: FY24 Operating Budget and FY24 - FY28 CIP Budget

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Andy F. Icken, Chief Development Officer

___Gwendolyn F. Tillotson - Bell, Deputy Director

Phone: (832) 393-0937