The Administration has undertaken a comprehensive review of the proposed FY25 TIRZ budgets and recommends approval of the FY25 Operating Budget for the Harrisburg Redevelopment Authority (the Authority) and Fiscal Years 2025 – 2029 Capital Improvement Plan (CIP) Budget for Reinvestment Zone Number Twenty–Three, City of Houston, Texas (Harrisburg Zone).
• Total Operating Budget for FY25 is $16,352,116 which includes $537,993 for required fund transfers, and $15,814,123 for Project Costs primarily committed to mobility infrastructure improvements including roadways, bike lanes, sidewalks, trails, streetscape enhancements and intersection enhancements, and park improvements.
• The FY25 Operating Budget also includes $129,200 for administration and overhead, and $674,403 for developer reimbursement agreements for the design of water, wastewater, and stormwater infrastructure, streets, and streetscape enhancements as well as an economic developer agreement to rehabilitate and to redevelop 5 buildings into a 35,000 square foot multi-tenant workspace with shared amenities. Annual funding amounts in connection with Buffalo Bayou East greenspace maintenance are also part of the operating budget.
• The FY25 Operating Budget has a municipal services charge of $325,016.
• The FY25 – FY29 CIP Budget totals $39,409,346 and includes provisions for the right-of-way acquisition, design, and construction of roadways and sidewalks, trails, and greenspace.
• 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.
Attachments: FY25 Operating Budget and FY25 – FY29 CIP Budget
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Gwendolyn Tillotson-Bell, Chief Economic Development Officer