ORDINANCE relating to Fiscal Affairs of MEMORIAL-HEIGHTS REDEVELOPMENT AUTHORITY ON BEHALF OF REINVESTMENT ZONE NUMBER FIVE, CITY OF HOUSTON, TEXAS (MEMORIAL-HEIGHTS REDEVELOPMENT ZONE); approving Fiscal Year 2025 Operating Budget for the Authority and Fiscal Years 2025-2029 Capital Improvement Plan Budget for the Zone - DISTRICT C - KAMIN; H - CASTILLO and I - MARTINEZ

TAGGED BY COUNCIL MEMBER RAMIREZ and DAVIS

This was Item 43 on Agenda of March 19, 2025

The Administration has undertaken a comprehensive review of the proposed FY25 TIRZ budgets and recommends approval of the FY25 Operating Budget for the Memorial-Heights Redevelopment Authority (the Authority) and approval of the FY25 – FY29 CIP Budget for Reinvestment Zone Number Five, City of Houston, Texas (Memorial Heights Zone).

• Total Operating Budget for FY25 is $40,488,114 which includes $899,770 for fund transfers required by the tri-party agreement between the City, the Memorial Heights Zone, and the Authority.

• The FY25 Operating Budget also provides for $39,588,344 allocated towards Project Costs, including $33,674,494 for capital expenditures primarily committed to the Shepherd and Durham Street reconstruction project; the design of flood remediation plans associated with the North Canal Project; and the construction of pedestrian and bicycle facility improvements within the Zone.

• The FY25 Operating Budget also includes $3,090,000 in developer reimbursements and allocates $382,500 for administration and overhead.

• The FY25 – FY29 CIP Budget totals $109,237,376 and includes provisions for the design and construction of pedestrian bridges, reconstruction of streets, hike and bike trails, Shepherd and Durham Reconstruction, and the North Canal Project.

• 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 includes a municipal services cost payment of $160,652 to pay for the incremental cost of providing services to the area.

Attachments: FY25 Operating Budget and FY25 - FY29 CIP Budget

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Gwendolyn Tillotson-Bell, Chief Economic Development Officer

__Jennifer D. Curley, Assistant Director

(832) 393-0981