ORDINANCE relating to the Fiscal Affairs of the HARDY/NEAR NORTHSIDE REDEVELOPMENT AUTHORITY on behalf of REINVESTMENT ZONE NUMBER TWENTY-ONE, CITY OF HOUSTON, TEXAS (HARDY/NEAR NORTHSIDE ZONE); approving the Fiscal Year 2016 Operating Budget for the Authority and the Fiscal Years 2016-2020 Capital Improvements Budget for the Zone  DISTRICT H - GONZALEZ

SUBJECT: Ordinance approving the Fiscal Year 2016 Operating Budget Reinvestment Zone Number Twenty-One (Hardy Yards/Near Northside Zone). 

RECOMMENDATION:  (Summary)

City Council adopt an ordinance approving the Fiscal Year 2016 Operating Budget for Reinvestment Zone Number Twenty-One (Hardy Yards/Near Northside Zone).

SPECIFIC EXPLANATION:

The Administration has undertaken a comprehensive review of the proposed FY16 TIRZ budgets and recommends approval of the FY16 Operating Budget for Reinvestment Zone Number 21 (Hardy Yards/Near Northside Zone).

Total Operating Budget for FY16 is $12,542,680, which includes $115,205 for required fund transfers, and $12,427,475 for project costs.

The FY16-FY20 CIP Budget totals $382,600, and includes provisions for the funding of a hike and bike trail through the Zone.

The FY16 Operating Budget includes $33,875 for administration and overhead. The Authority must advise the Chief Development Officer of any budget amendments. Adjustments to the Project Costs in the Operating Budget that exceed $400,000 require City Council approval.

Attachments: FY16 Operating Budgets

CC:

Marta Crinejo, Agenda Director

Anna Russell, City Secretary

Donna Edmundson, City Attorney

Gary Dzierlenga, Sr. Assistant City Attorney

Gwendolyn F. Tillotson         Phone: (832) 393-0937