ORDINANCE appropriating $26,538,223.53 out of Tax Increment Funds for Reinvestment Zone Number Two, City of Houston, Texas (Midtown Zone), Reinvestment Zone Number Three, City of Houston, Texas (Main Street/Market Square Zone), Reinvestment Zone Number Eight, City of Houston, Texas (Gulfgate Zone), Reinvestment Zone Number Nine, City of Houston, Texas (South Post Oak Zone), Reinvestment Zone Number Ten (Lake Houston Zone), Reinvestment Zone Number Eleven, City of Houston, Texas (Greater Greenspoint Zone), and Reinvestment Zone Number Fifteen, City of Houston, Texas (East Downtown Zone) for administrative expenses, payment of project costs, and payments to certain Redevelopment Authorities as provided herein

SUBJECT:   Ordinance appropriating $26,538,223.53 in tax increment revenue payments made by Harris County (“HC”), Harris County Hospital District (“HCHD”), Harris County Port Authority (“HCPA”), Aldine ISD, Humble ISD, Spring ISD, Lone Star College (“LSC), Houston Community College (“HCC”); and authorizing the transfer of tax increment revenue to various Tax Increment Reinvestment Zone (“TIRZ”) Revenue Funds pursuant to the City’s Interlocal Agreement with Harris County, Aldine ISD, Humble ISD, Spring ISD, Lone Star College, Houston Community College and the TIRZs.

RECOMMENDATION: (Summary)
City Council approve an ordinance appropriating $26,538,223.53 in tax increment revenue payments made by HC, HCHD, HCPA, Aldine ISD, Humble ISD, Spring ISD, LSC, and HCC and authorize the transfer of tax increment revenues to the various TIRZ Funds pursuant to the City’s Interlocal Agreements with Harris County, Aldine ISD, Humble ISD, Spring ISD, Lone Star College, Houston Community College and the TIRZs.

SPECIFIC EXPLANATION:
The appropriation of $26,538,223.53 results from tax increment payments received from Harris County, the Harris County Hospital District, Harris County Port Authority, Aldine ISD, Humble ISD, Spring ISD, Lone Star College and Houston Community College.

The increment payments will be allocated as follows:

Various redevelopment authorities will receive $15,122,977.19 pursuant to the Tri-Party Agreements and Interlocal Agreements.

Administrative fees totaling $406,390.55 will be transferred to the General Fund.

Educational Facilities transfer to Humble ISD will be $10,896,747.59.

Harris County’s Homeless Housing Program will receive $112,108.20.

cc: Marta Crinejo, Agenda Director
Anna Russell, City Secretary
Donna Edmundson, City Attorney
Gary Dzierlenga, Senior Assistant City Attorney