Department: Management and Budget
Department Head/Elected Official: Daniel Ramos, Executive Director
Regular or Supplemental RCA: Regular RCA
Type of Request: Commercial Paper
Project ID (if applicable): MF1GW
Vendor/Entity Legal Name (if applicable): N/A
MWDBE Contracted Goal (if applicable): N/A
MWDBE Current Participation (if applicable): N/A
Justification for 0% MWDBE Participation Goal: N/A - Goal not applicable to request
Request Summary (Agenda Caption):
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Request for approval of commercial paper funding for the Office of the County Engineer for the Riverside Revitalization project in the additional amount of $19,830,000 for a total CP funding of $23,460,000.
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Background and Discussion:
Commercial Paper Series D-2 can be used for (1) construction of public works, (2) the purchase of automobiles, equipment and machinery, including computers, materials and supplies for the operation of the County's precincts and departments (3) Professional services, including services provided by engineers, architects, attorneys, auditors, financial advisors, and fiscal agents, in connection with the contractual obligations described in (1) and (2).
Commercial Paper is being requested for the Riverside Revitalization project and is expected to be repaid within the next three fiscal years either through bonds, budgetary means or pay-as-you-go sources. This is for approval for allocation of commercial paper for a previously approved project within the previously authorized amount.
HB 1869 compliance confirmed by: Michael James, Assistant County Attorney, February 9, 2023.
Expected Impact:
The site will be the new headquarters for Harris County Public Health (HCPH) and the ACCESS Harris initiative that will bring valuable preventative care and wrap-around services to the Third Ward community. The project includes (1) the renovation of the historic Riverside General Hospital building to operate the ACCESS Harris initiative (2) the renovation of the histor...
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