Members of the Houston City Council finalized a 2018 budget Tuesday and authorized the mayor to purchase an industrial tract at the Northeast Industrial Park off U.S. 63.
The property — a five-acre tract situated behind the Houston Area Chamber of Commerce Fairgrounds — was purchased for $45,000 from the Houston Development Co. (HDC) Infrastructure has already been extended to the property. The acquisition will assist the HDC with cash needs related to a building it owns along Spruce Street. Mayor Don Tottingham signed the paperwork Wednesday.
In other matters, members:
—Made final changes to the 2018 budget, including reducing the amount of funds for a system that reads utility usage and can be controlled remotely, decreased a transfer from the electrical fund to the general fund by about $257,000, reduced promotional expenses for the economic development department and reduced projected sales from electricity. The city anticipates flat revenue sales that include a 3 percent rate hike in February. The council also made housekeeping changes to close out its 2017 budget year. Â
—Adjourned into a closed session.