ORDINANCE relating to Fiscal Affairs of HARRISBURG REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER TWENTY-THREE, CITY OF HOUSTON, TEXAS (HARRISBURG ZONE), approving Fiscal Year 2024 Operating Budget for the Authority and Fiscal Years 2024-2028 Capital Improvement Plan Budget for the Zone - DISTRICTS H - CISNEROS and I - GALLEGOS

The Administration has undertaken a comprehensive review of the proposed FY24 TIRZ budgets and recommends approval of the FY24 Operating Budget for the Harrisburg Redevelopment Authority (the Authority) and Fiscal Years 2024 – 2028 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Twenty–Three, City of Houston, Texas (Harrisburg Zone).

• Total Operating Budget for FY24 is $8,007,515 which includes $524,835 for required fund transfers, and $7,482,680 for Project Costs primarily committed to mobility infrastructure improvements including roadways, bike lanes, sidewalks, trails, streetscape enhancements and intersection enhancements, and park improvements.
• The FY24 Operating Budget also includes $120,600 for administration and overhead, and $610,906 for developer reimbursement agreements for the design of water, wastewater, and stormwater infrastructure, streets, and streetscape enhancements as well as an economic developer agreement to rehabilitate and to redevelop 5 buildings into a 35,000 square foot multi-tenant workspace with shared amenities. Annual funding amounts in connection with Buffalo Bayou East greenspace maintenance are also part of the operating budget.
• The FY24 Operating Budget has a municipal services charge of $325,016.
• The FY24 – FY28 CIP Budget totals $36,425,000 and includes provisions for the right-of-way acquisition, design, and construction of roadways and sidewalks, trails, and greenspace.
• 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

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Andy F. Icken, Chief Development Officer

______Gwendolyn F. Tillotson, Deputy Director

Phone: (832) 393 - 0937