Primary Department: Management and Budget
Primary Department Head/Elected Official: Daniel Ramos, Executive Director
Secondary Department: Harris County Sports & Convention Corporation
Secondary Department Head/Elected Official: Martye Kendrick, CEO & Executive Director
Regular or Supplemental RCA: Supplemental RCA
Type of Request: Interlocal Agreement
Project ID (if applicable): N/A
Vendor/Entity Legal Name (if applicable): N/A
MWBE Contracted Goal (if applicable): N/A
MWBE Current Participation (if applicable): N/A
Justification for 0% MWBE Participation Goal: N/A - Goal not applicable to request
Grant Indirect Costs Rate (if applicable): N/A
Justification for 0% Grant Indirect Costs Rate (if applicable): N/A - Not a grant item
Request Summary (Agenda Caption):
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Request by the Office of Management and Budget for discussion and possible action to approve an interlocal agreement, pursuant to Section 381.004 of the Local Government Code, with the Harris County Sports and Convention Corporation to provide a $4 million loan for lighting improvements at NRG Stadium.
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Background and Discussion:
Lighting improvements at NRG Stadium will bring reduced energy costs, greater reliability, and lower emissions. The Office of Management and Budget recommends approving an interlocal agreement (ILA) with the Harris County Sports and Convention Corporation (Sports Corp), pursuant to Section 381.004 of the Local Government Code, to fund this initiative.
The loan will provide the Sports Corp $4 million in Hotel Occupancy Tax (HOT) funding to fund lighting improvements immediately and begin to see cost and reliability improvements right away. The loan will be fully repaid back to the HOT fund over 4 years, per the agreement.
Expected Impact:
Providing this loan will allow this project to begin immediately, using funds available to the County.
Alternative Options:
Alternate funding sources could be considered but could delay the improvements or impact o...
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