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CITY OF HOUSTON - CITY COUNCIL
Meeting Date: 9/24/2024
ALL
Item Creation Date: 9/10/2024
MYR - TIRZ Appropriation Harris County, Ft. Bend County, Community College, ISD $17,245,906.03
Agenda Item#: 29.
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| | | | | | | | Summary:
ORDINANCE appropriating $17,245,906.03 out of City of Houston, Texas, Tax Increment Funds for REINVESTMENT ZONES TWO (MIDTOWN ZONE), THREE (MAIN STREET/MARKET SQUARE ZONE), ELEVEN (GREATER GREENSPOINT ZONE), FIFTEEN (EAST DOWNTOWN ZONE), and TWENTY-FIVE (HIRAM CLARKE FORT BEND ZONE), for payment to HARRIS COUNTY, TEXAS, for Affordable Housing, Payment of Administrative Expenses, and Payments to certain Redevelopment Authorities as provided herein |
| | | | | | | | Background:
The appropriation of $17,245,906.03 results from tax increment payments received in the City’s tax year 2023 from the Houston Community College, Harris County, Harris County Flood Control, Lone Star College, Aldine Independent School District, and Fort Bend County for transfer to the various TIRZs.
As shown in the attached spreadsheet, $281,400.15 will be transferred to the Harris County Community Services Department and $84,487.20 will be transferred to the General Fund for TIRZ administrative costs. The remaining appropriation, $16,880,018.68, will be paid to the various redevelopment authorities on behalf of the TIRZ.
All tri-party agreements and creation documents can be found on the following website:
http://www.houstontx.gov/ecodev/
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Gwendolyn Tillotson - Bell, Chief Economic Development Officer |
| | | | | | | | Prior Council Action:
Ordinance No. 2023-660, 8/23/23 |
| | | | | | | | Contact Information:
__Jennifer D. Curley, Assistant Director
Phone: (832) 393 - 0981
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