ORDINANCE relating to Fiscal Affairs of SAINT GEORGE PLACE REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER ONE, CITY OF HOUSTON, TEXAS; approving Fiscal Year 2025 Operating Budget for the Authority and Fiscal Years 2025-2029 Capital Improvements Budget for the Zone - DISTRICT J - POLLARD

Ordinance approving the Fiscal Year 2025 Operating Budget for Saint George Place Redevelopment Authority and the Fiscal Years 2025 - 2029 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number One, City of Houston, Texas (Saint George Place Zone).

RECOMMENDATION:
City Council adopt an ordinance approving the Fiscal Year 2025 (FY25) Operating Budget for Saint George Place Redevelopment Authority and the Fiscal Years 2025 – 2029 (FY25 – FY29) Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number One, City of Houston, Texas (Saint George Place 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 Saint George Place Redevelopment Authority (the “Authority”) and the FY25 - FY29 CIP Budget for Reinvestment Zone Number One (the “Zone”).

•  Total Operating Budget for FY25 is $14,005,388 which includes $3,550,950 for fund transfers required by the tri-party agreement between the Zone, the Authority and the City and the interlocal agreement between the City, the Zone, the Authority and Houston Independent School District.
•  The Operating Budget also includes $7,792,250 for capital expenditures committed to roadway reconstruction, park improvements, sidewalk replacement and improvements; and $113,945 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 – FY29 CIP Budget totals $26,541,600 and includes provisions for regional flood mitigation, street reconstruction, and sidewalk improvements.
• The FY25 Operating Budget includes a municipal services cost payment in FY25 of $232,718 to pay for the incremental cost of providing services to the area.

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Gwendolyn Tillotson-Bell

Chief Economic Development Officer

832.393.0981

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Jennifer D. Curley

832.393.0981