trymahjong Posted July 9, 2015 Share Posted July 9, 2015 From Costello enewsletterAt the end of yesterday's lengthy City Council meeting, the Fiscal Year 2016-2020 Capital Improvement Plan (CIP) passed in a 13-3 vote. The CIP sets forth $8.7 billion in capital spending over the next five years. Council Member Stephen Costello, the city's Budget and Finance Committee chair, offered an amendment to the CIP aimed at preserving $9.2 million in ReBuild Houston funds for badly-needed street and drainage projects. Costello challenged the Parker Administration's plans to use this money to reimburse developers for infrastructure improvements made as part of economic development agreements known as 380 Agreements, allowed under Chapter 380 of the Texas Government Code. "ReBuild Houston funds are to be used to rebuild the city's long-neglected street and drainage infrastructure. That is the intent of the program. These funds were never envisioned as a means to supplement new economic development projects," says Costello.The passage of this amendment means $9.2 million of ReBuild Houston funds will be freed up in the CIP to accelerate and/or add desperately-needed street and drainage projects throughout the city. Quote Link to comment Share on other sites More sharing options...
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