Primary Department: Housing and Community Development
Primary Department Head/Elected Official: Thao Costis
Secondary Department: N/A
Secondary Department Head/Elected Official: N/A
Regular or Supplemental RCA: Regular RCA
Type of Request: Contract - Amendment
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):
title
Request for approval to execute the following agreements related to the County’s participation in the City of Houston TIRZ No. 24 in order to facilitate the issuance of bonds by a newly formed Houston Harris County Redevelopment Authority for authorized projects in the Zone: (1) Termination Agreement related to the Existing County Participation Agreement; (2) Interlocal Agreement by and among the City of Houston, the County, the Houston Harris County Redevelopment Authority, and the Reinvestment Zone Number Twenty-Four, City of Houston, Texas - New County Participation Agreement; and (3) Interlocal Agreement relating to County Projects in relation to the Greater Houston Tax Increment Revenue Zone No. 24 and Harris County Redevelopment Authority.
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Background and Discussion:
On November 20, 2012, Harris County authorized the creation of the Harris County Redevelopment Authority (HCRDA). Subsequently, on October 31, 2023, Harris County approved the Third Amendment to the Project Plan and Reinvestment Zone Financing Plan for the Tax Increment Reinvestment Zone Number Twenty-Four (TIRZ 24), City of Houston, Texas, also known as the Greater Houston Tax Increment Zone, to increase the Harris County budget and include new budget categories related to the Zone to facilitate the redevelopment and development of 7,588.36-acres of parcels plus rights of way which will attract private investment, including the redevelopment of over 4,200-acres of vacant and underdeveloped land such as oil field properties, vacant land and underutilized warehouse type land uses.
To finance TIRZ eligible project costs related to the project plan, it’s necessary to amend the previously approved County Participation Agreement and Interlocal Agreement and well as terminate the existing County Participation Agreement.
Expected Impact:
After these agreements are approved, HCRDA and TIRZ 24 will be able to issue bonds to fund the fund capital improvement and affordable housing projects outlined in the project plan through the newly formed redevelopment authority.
Alternative Options:
If the (1) Termination Agreement-Existing County Participation Agreement, (2) Interlocal Agreement-New County Participation Agreement, and (3) Interlocal Agreement aren’t approved, then the HCRDA and TIRZ 24 will not be able to issue bonds to fund capital improvement and affordable housing projects outlined in the project plan.
County Strategic Plan Goal: 6. Help residents achieve housing stability.
County Strategic Plan Objective: U: Build and preserve affordable housing, particularly for low-income families.
Justice/Safety Initiative (Goal 1): N/A
Infrastructure Initiative (Goal 2): N/A
Economy Initiative (Goal 3): N/A
Health Initiative (Goal 4): N/A
Climate/Resilience Initiative (Goal 5): N/A
Housing Initiative (Goal 6): N/A
Additional notes related to the Strategic Plan:
Prior Court Action (if any):
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Date |
Agenda Item # |
Action Taken |
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10-31-2023 |
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Third Amendment to the TIRZ No. 24 Project & Financing Plan |
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9-29-2020 |
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Second Amendment to the TIRZ No. 24 Project & Financing Plan |
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6-2015 |
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First Amendment to the TIRZ No. 24 Project & Financing Plan |
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12-2012 |
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Original Agreement to TIRZ No. 24 Project & Financing Plan |
Location:
Address (if applicable): N/A
Precinct(s): Precincts 1 & 2
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Anticipated Court Date: 8/26/2025
Anticipated Implementation Date (if different from Court date): 8/26/2025
Emergency/Disaster Recovery Note: Not an emergency, disaster, or ARPA related item
Contact(s) name, title, department: Rene Martinez, Executive Director- Harris County Redevelopment Authority and Tax Increment Reinvestment Zone No. 24.
Attachments (if applicable): (1) Termination Agreement-Existing County Participation Agreement, (2) Interlocal Agreement-New County Participation Agreement; and (3) Interlocal Agreement - County Projects