From the inbox, and the office of CM Oliver Pennington:
CM Oliver Pennington
To the Residents of District G:
As many of you are aware, the May 1, 2013, Council Agenda contained several items related to the Reinvestment Zone Number Sixteen (Uptown Zone), also known as TIRZ 16. Included on the agenda today were Items 15 (enlarging the TIRZ boundaries), 15a (extending the duration of the TIRZ), 15b (authorizing the issuance of bonds by the TIRZ) and 15-1 (adding land to the Harris County Improvement District No. 1, also known as the Uptown Management District). Those Agenda Items, and the back-up provided by the administration, can be viewed at this link: http://www.houstontx.gov/citysec/backup/2013/043013.pdf
At the City Council Meeting this morning, Council Member Pennington made a successful motion to delay further consideration of these 4 agenda items for two weeks so that these matters can be presented to and discussed at a Committee Meeting. That will allow the public to fully learn the plans relating to the Post Oak METRO project and the re-forestation of Memorial Park.
There will be a presentation regarding TIRZ 16 at the Budget & Fiscal Affairs Committee Meeting on Tuesday, May 7, 2013, at 10:00 A.M. The Public is invited to attend and there will be an opportunity for all concerned citizens to speak at the meeting. The meeting will be held in Council Chambers, located at City Hall, 901 Bagby, 2nd Floor, Houston, TX 77002.
So if you share Lisa Falkenberg’s concerns about this TIRZ, here’s your chance to put them on the record. You might even suggest some ways that your concerns could be addressed. If you can’t make it to this meeting, my advice is to send an email to Mayor Parker and the members of the Budget and Fiscal Affairs Committee with your feedback. You can find Council member contact information here. As they say, speak now or forever hold your peace.
My guess was correct.
The ordinance allows the TIRZ to issue an ADDITIONAL $85 million in debt on top of the $70 million outstanding. Rebuild Houston is on “pay as you go” financing while these shadow entities create more debt.
Once again, not opposed to rebuilding Memorial Park (or the TIRZ), just wonder if the TIRZ is the most cost effective, transparent way to do it.