The City of Sugar Land has a long-standing practice of providing the City Council with a list of priority opportunity projects that could be funded from unallocated revenues in funds restricted for economic development and tourism purposes, such as the Sugar Land Development Corporation, the Sugar Land 4B Corporation and Hotel Occupancy Taxes (HOT).  These unallocated revenues are known as the "Reserves for Opportunities" and are identified as part of the City's long-range financial planning during the budget process.

In preparation for the upcoming budget workshops and adoption of the FY18 budget, staff has prepared a list of priority projects for consideration in FY18 and future years.  These projects are primarily related to economic development and create opportunities for continued commercial growth and investment in the City's efforts to further grow as a destination location within the Houston region and State of Texas.  As such, it is appropriate to consider funding these projects from the City's "Reserve for Opportunities."

Staff will provide an update on the status of the "Reserves for Opportunities," as well as an overview of upcoming projects and next steps in the planning for FY18 and future years.