SUBJECT: Ordinance approving the Fiscal Year 2026 Operating Budget for the Medical Center Area Redevelopment Authority for Reinvestment Zone Number Twenty-Eight, City of Houston, Texas (Medical Center Area Zone).
RECOMMENDATION: (Summary)
City Council adopt an ordinance approving the Fiscal Year 2026 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 FY26 TIRZ budget and recommends approval of the FY26 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 FY26 is $543,900, which includes $102,900 for required fund transfers and $441,000 for Project Costs.
- The FY26 Operating Budget includes $101,000 for administration and overhead.
- The FY26 Operating Budget does not have a municipal services charge.
The Authority must advise the Chief Economic Development Officer of any budget amendment. Budget amendments that exceed the lesser of $400,000 or 5% of the Project Costs require City Council approval.
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Gwendolyn Tillotson-Bell
Chief Economic Development Officer