Ordinance approving the Fiscal Year 2025 Operating Budget for the Medical Center Area Redevelopment Authority for Reinvestment Zone Number Twenty-Eight, City of Houston, Texas (Medical Center Area Zone).
RECOMMENDATION:
City Council adopt an ordinance approving the Fiscal Year 2025 Operating Budget for the Medical Center Area Redevelopment Authority for Reinvestment Zone Number Twenty-Eight, City of Houston, Texas (Medical Center Area Zone).
SPECIFIC EXPLANATION:
The Administration has undertaken a comprehensive review of the proposed FY25 TIRZ budget and recommends approval of the FY25 Operating Budget for the Medical Center Area Redevelopment Authority for Reinvestment Zone Number Twenty-Eight, City of Houston, Texas (Medical Center Area Zone).
- Total Operating Budget for FY25 is $314,802, which includes $13,802 for City administration fees and $301,000 for project costs related to administration and consulting services needed to evaluate and implement improvements to enhance economic development in the Medical Center Area Zone.
The FY25 Operating Budget does not have a municipal services charge
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Gwendolyn F. Tillotson - Bell
Chief Economic Development Officer