Department: Community Services
Department Head/Elected Official: Adrienne M. Holloway, Ph.D., Executive Director
Regular or Supplemental RCA: Regular RCA
Type of Request: Contract - Amendment
Project ID (if applicable): N/A
Vendor/Entity Legal Name (if applicable): TIRZ #24, Harris County Redevelopment Authority
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):
title
Request for approval of the second amendment to the interlocal agreement between Tax Increment Reinvestment Zone #24 and the Harris County Redevelopment Authority to increase the City of Houston's participation in the zone from 5% to 75% and increase the number of City members on the Board of Directors from one to five.
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Background and Discussion:
Harris County and the City of Houston entered into an interlocal agreement effective July 25, 2014, as amended by that first amended interlocal agreement approved by the County on July 14, 2015, relating to the City and County participation in the Zone and setting forth various obligations of the Parties with respect to the operation and administration of the Zone and the handling of the tax increments collected from the property within the Zone.
The Second Amendment increases participation by the City of Houston in the Zone from 5% to 75%, which increases the number of City appointed directors from one to five members of the Board of Directors. Harris County will still maintain control of the Board of Directors with six seats.
Expected Impact:
This action will amend the Interlocal Agreement between Harris County and the City of Houston, increasing the City's participation in the Zone.
Alternative Options:
The Interlocal Agreement will not allow for the increased participation by the City of Houston in the Zone.
Alignment with Goal(s):
_ Justice and Safety
X Economic Opportunity...
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