SUBJECT: Public hearing for the Third Amended Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Twenty-Four, City of Houston, Texas (Greater Houston Zone)
RECOMMENDATION: (Summary)
Public hearing for the Third Amended Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Twenty-Four, City of Houston, Texas (Greater Houston Zone)
SPECIFIC EXPLANATION:
On October 23, 2023, the Board of Directors for Reinvestment Zone Number Twenty-Four (Greater Houston Zone) considered and approved the proposed Third Amended Project Plan and Reinvestment Zone Financing Plan (the “Amended Plan”) and submitted the Amended Plan to the County for consideration by the Harris County Commissioners Court and the City for consideration by City Council. The Amended Plan will reflect proposed changes to the approved project categories for Harris County increment in the Greater Houston Zone Project Plan. The Amended plan includes no changes to City-approved project categories.
The proposed changes to the Greater Houston Zone Project Plan were presented to the Economic Development Committee on October 18, 2023. On October 31, 2023, the Harris County Commissioners Court considered and approved the Amended Plan.
Pursuant to Texas Tax Code Section 311.011(e), a public hearing must be held prior to City Council’s consideration of ordinances approving the Third Amended Plan. The Administration recommends that City Council set the public hearing date for December 6, 2023.
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Andy Icken
Chief Development Officer