ORDINANCE relating to Fiscal Affairs of OLD SIXTH WARD REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER THIRTEEN, CITY OF HOUSTON, TEXAS (OLD SIXTH WARD ZONE); approving Fiscal Year 2025 Operating Budget for the Authority and Fiscal Years 2025-2029 Capital Improvement Projects Budget for the Zone - DISTRICT H - CASTILLO

SUBJECT:  Approve the Fiscal Year 2025 Operating Budget for Old Sixth Ward Redevelopment Authority and Fiscal Years 2025 - 2029 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Thirteen, City of Houston, Texas (Old Sixth Ward Zone).        

RECOMMENDATION: City Council adopt an ordinance approving the Fiscal Year 2025 Operating Budget for Old Sixth Ward Redevelopment Authority and the Fiscal Years 2025 - 2029 CIP Budget for Reinvestment Zone Number Thirteen, City of Houston, Texas (Old Sixth Ward Zone).    

SPECIFIC EXPLANATION: The Administration has undertaken a comprehensive review of the proposed FY25 TIRZ budgets and recommends approval of the FY25 Operating Budget for the Old Sixth Ward Redevelopment Authority (the Authority) and the FY25 – FY29 CIP Budget for Reinvestment Zone Number Thirteen, City of Houston, Texas (the Zone).

• The Total Operating Budget for FY25 is $6,546,722, which includes $2,278,553 for required fund transfers required by the triparty agreement between the City, Zone, and Authority; and the interlocal agreement between the Zone and the Houston Independent School District.
• The FY25 Budget also includes $4,268,169 for Project Costs committed to debt service and the planning, designing and construction of pedestrian improvements to enhance pedestrian safety and accessibility.
• The FY25 – FY29 CIP totals $21,000,251 and includes provisions for design and construction of pedestrian improvements, roadway and street reconstruction.  
• The FY25 Operating Budget includes $3,765,000 for capital expenditures and $151,250 for administration and overhead.  The Authority must advise the Chief Economic 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.

·       The FY25 Operating Budget has a municipal services charge of $142,891.

Attachments: FY25 Operating Budget and FY25 - FY29 CIP Budget

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Gwendolyn Tillotson-Bell, Chief Economic Development Officer

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