ORDINANCE relating to the Fiscal Affairs of the MIDTOWN REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER TWO, CITY OF HOUSTON, TEXAS (MIDTOWN ZONE); approving the Fiscal Year 2023 Operating Budget for the Authority and the Fiscal Years 2023-2027 Capital Improvements Plan Budget for the Zone - DISTRICTS C - KAMIN and D - EVANS-SHABAZZ

The Administration has undertaken a comprehensive review of the proposed FY23 TIRZ budgets. The Administration recommends approval of the FY23 Operating Budget for Midtown Redevelopment Authority (the “Authority”) and the FY23 – FY27 CIP Budget for Reinvestment Zone Number Two (the “Zone”).

• Total Operating Budget for FY23 is $58,316,468 which includes $8,374,988 for required fund transfers, $22,790,216 for capital expenditures committed primarily to the addition of a restaurant pad to Midtown Park, planning mobility and pedestrian improvements, the renovation and maintenance of area parks including Bagby Park, Elizabeth Baldwin Park, and Glover Park. The Affordable Housing Program has a budget of $13,061,134.

• The FY23 – FY27 CIP totals $163,326,366 and includes provisions for the design and construction of streets, sidewalks, and utilities to accommodate growing mobility and infrastructure demands in the Zone.

• The FY23 – FY27 Affordable Housing Program totals $33,804,170 to support the development of affordable housing units and to provide management of a facility that provides affordable housing related services to the community.

• The FY23 Operating Budget includes $1,674,650 for administration and overhead and a municipal services cost payment of $781,263, to pay for the incremental cost of providing services to the area and $492,737 for supplemental private security services.

• 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: FY23 Operating Budget and FY23 - FY27 CIP Budget

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Andy F. Icken, Chief Development Officer

______Gwendolyn F. Tillotson - Bell, Deputy Director

Phone: (832) 393-0937