ORDINANCE relating to Fiscal Affairs of FIFTH WARD REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER EIGHTEEN, CITY OF HOUSTON, TEXAS (FIFTH WARD ZONE); approving Fiscal Year 2025 Operating Budget for the Authority and Fiscal Years 2025-2029 Capital Improvement Plan Budget for the Zone - DISTRICT B - JACKSON

TAGGED BY COUNCIL MEMBERS RAMIREZ, DAVIS, CARTER, PLUMMER and ALCORN

This was Item 36 on Agenda of December 4, 2024

RECOMMENDATION: City Council adopt an ordinance approving the Fiscal Year 2025 Operating Budget for the Fifth Ward Redevelopment Authority and a Fiscal Years 2025 - 2029 CIP Budget for Reinvestment Zone Number Eighteen, City of Houston, Texas (Fifth 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 Fifth Ward Redevelopment Authority (Authority) and the FY25 – FY29 CIP Budget for Reinvestment Zone Number Eighteen, City of Houston, Texas (Zone).

• Total Operating Budget for FY25 is $6,141,551which includes $918,951 for fund transfers as required by the tri-party agreement between the City, the Zone, and the Authority; and the interlocal agreement between the City, the Zone and Houston Independent School District.
• The FY25 Operating Budget also includes $5,222,600 for Project Costs committed to property acquisition, streetscape enhancements along Lyons Avenue, environmental remediation, area parks and cultural facilities.
• The FY25 Operating Budget includes $1,078,000 in Developer/Project Reimbursements, including annual funding amounts in connection with Buffalo Bayou East greenspace maintenance, and $110,600 for administration and overhead. 
• The FY25 – FY29 CIP Budget for the Zone totals $8,536,000 for affordable housing (land acquisition, design, and construction), sidewalks, cultural facilities, historic preservation and community parks.
• The FY25 Operating Budget provides for the transfer of $696,163 to the City’s Housing and Community Development Department for affordable housing.
• 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. 
• The FY25 Operating Budget does not have a municipal service charge.

Attachments:  FY25 Operating Budget and FY25 – FY29 CIP Budget

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Gwendolyn F. Tillotson - Bell

Chief Economic Development Officer  

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Jennifer D. Curley 

 Phone:  (832) 393-0981