ORDINANCE relating to Fiscal Affairs of LELAND WOODS REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER TWENTY-TWO, CITY OF HOUSTON, TEXAS (LELAND WOODS ZONE); approving Fiscal Year 2025 Operating Budget for the Authority and Fiscal Years 2025-2029 Capital Improvement Plan Budget for the Zone - DISTRICTS B - JACKSON and I - MARTINEZ

The Administration has undertaken a comprehensive review of the proposed FY25 TIRZ budgets and recommends approval of the FY25 Operating Budget for the Leland Woods Redevelopment Authority (the Authority) and Fiscal Years 2025-2029 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Twenty-Two, City of Houston, Texas (Leland Woods Zone).

• Total Operating Budget for FY25 is $1,492,487 which includes $61,091 for required fund transfers, and $1,431,396 for Project Costs primarily committed to mobility and drainage improvements.

• The FY25 Operating Budget also includes $60,596 for administration and overhead, and $70,300 for a developer reimbursement agreement with Contempo Builders.

• The FY25-FY29 CIP Budget totals $3,602,500 and includes provisions for multi-street mobility and drainage improvements, concrete panel replacements, street signage improvements, and civic art.

• The Authority must advise the Chief Economic 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.

__________________________________________________

Gwendolyn Tillotson-Bell, Chief Economic Development Officer

__________________________________

 Jennifer D. Curley Phone: (832) 393-0981