RECOMMENDATION:
City Council adopt an ordinance authorizing the transfer of $5,000,000,00 from the General Fund balance to the Parks Special Fund, and then appropriating that amount out of the Parks Special Fund for the MacGregor Park Development Project (the “Project”).
SPECIFIC EXPLANATION:
City Council approval is recommended for an ordinance approving and authorizing the transfer of $5,000,000.00 from the General Fund balance to the Parks Special Fund, and then appropriating that amount out of the Parks Special Fund for the Project.
Acquired in 1930, MacGregor Park is an 82-acre park embedded in a culturally and historically rich community in southeast Houston, along Brays Bayou. This proposed Project is an important step in ensuring park equity across Houston by providing critical improvements outlined in the MacGregor Park 2022 Master Plan. The MacGregor Park Agreement, a separate item that Council is being asked to approve in a parallel action to this ordinance, details the $14,500,000 in capital costs commitment by the City toward the MacGregor Park Five-Year Plan and establishes Houston Parks Board as the project manager. The scope of the Project includes upgrades to the tennis center, baseball field, historic center renovation, swimming pool, a new amphitheater, community plaza, playgrounds, event lawn, youth multipurpose field, and reconfigured parking.
The Five-Year Plan is expected to be completed by December 31, 2028, with an overall estimated Project cost of $54,000,000. Of the $54 million total cost, half of the funds ($27 million) will be provided by an Angel Donor through the Houston Parks Board, with an additional $12.5 million committed by the Houston Parks Board as part of the MacGregor Park Agreement. The remaining $14.5 million will be comprised of the following funding sources:
· $5 million transfer from the fund balance to HPARD (establish by Council approval of this item)
· $4 million from the Department of Housing & Urban Development Community Project Funding Grant (on this agenda)
· $4 million from the TIRZ 7 Budgeted Capital Improvement Plan (on this agenda)
· $1.5 million from the HPARD Capital Improvement Plan (does not require Council action)
FISCAL NOTE:
Funding for this item is not included in the FY2024 Adopted Budget. Therefore, a Fiscal Note is required as stated in the financial Policies.
_____________________________
Andrew F. Icken, Chief Development Officer
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Estimated Fiscal Operating Impact
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Recurring or One-Time
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One-Time
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Fund Name
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FY2024
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Outyear
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Total
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General Fund
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$5,000,000
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$0
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$5,000,000
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Total
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$5,000,000
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$0
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$5,000,000
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