SUBJECT: Motion establishing a public hearing date for the Fifth amendment to the Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Seventeen, City of Houston, Texas (Memorial City Zone)
RECOMMENDATION: (Summary)
To establish a public hearing date for the Fifth amendment to the Project Plan and Reinvestment Zone Financing Plan for Reinvestment Zone Number Seventeen, City of Houston, Texas (Memorial City Zone)
SPECIFIC EXPLANATION:
On November 12, 2024, the Board of Directors of the Memorial City Reinvestment Zone Number Seventeen (Memorial City Zone) and the Memorial City Redevelopment Authority considered and approved the proposed Fifth Amended Project Plan and Reinvestment Zone Financing Plan (the “Amended Plan”) and submitted the Amended Plan to the City for consideration by City Council. The Amended Plan will reflect proposed changes to the boundaries of the Memorial City Zone and to extend the term of the Zone to December 31, 2049.
Pursuant to Texas Tax Code Section 311.011(e), a public hearing must be held prior to City Council’s consideration of approving the Fifth Amended Plan. The Administration recommends that City Council set the public hearing date for December 4, 2024.
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Gwendolyn F. Tillotson-Bell
Chief Economic Development Officer