SUBJECT: Ordinance approving the Fiscal Year 2017 Operating Budget for the Hiram Clarke/Fort Bend Redevelopment Authority on behalf of Reinvestment Zone Number 25 (Hiram Clarke/Fort Bend Zone).
RECOMMENDATION: (Summary)
City Council adopt an ordinance approving the Fiscal Year 2017 Operating Budget for Hiram Clarke/Fort Bend Redevelopment Authority on behalf of Reinvestment Zone Number Twenty – Five (Hiram Clarke/Fort Bend Zone).
SPECIFIC EXPLANATION:
The Administration has undertaken a comprehensive review of the proposed FY17 TIRZ budgets and recommends approval of the FY17 Operating Budget for Hiram Clarke/Fort Bend Redevelopment Authority (the Authority) on behalf of Reinvestment Zone Number Twenty – Five (Hiram Clarke/Fort Bend Zone).
Total Operating Budget for FY17 is $357,509, which includes $16,882 for required fund transfers, and $340,627 for project costs.
The FY17 Operating Budget includes $66,119 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.
The FY17 Operating Budget does not have a municipal services charge; the Hiram Clarke/Fort Bend Zone does not have a Capital Improvement Plan (CIP) Budget.
Attachments: FY17 Operating Budgets
CC:
Marta Crinejo, Agenda Director
Anna Russell, City Secretary
Ronald Lewis, City Attorney
Gary Dzierlenga, Sr. Assistant City Attorney