Consideration and possible action regarding approval of a budget amendment allocating $10,500 from the fund balance of the Texas City Harbour Foreign Trade Zone Corporation budget to account number 53680 "Professional Fees."

The Texas City Harbour Foreign Trade Zone Corporation was created to operate and maintain a foreign trade zone and subsequent subzones in Galveston, Brazoria, and Chambers County areas for the promotion of international trade. The administration of the Texas City Foreign Trade Zone Corporation is conducted by a board of directors and a general manager. Although the Foreign Trade Zone Corporation has the authority to set user fees, its operational and capital budgets must be approved by the City Commission.

Staff is recommending a professional services contract to FTI Consulting to assist the Texas City Harbour Foreign Trade Zone Corporation to help leverage FTZ-199 as a strategic asset for economic development withing the City.  In order to proceed with the professional services agreement, the proposed budget amendment allocating $10,500 from the Texas City Harbour Foreign Trade Zone Corporation's fund balance budget is recommended.  

Staff recommends approval of the proposed budget amendment.

Fund Balance at End of Year as budgeted: $173,796
Proposed amendment:                              <$  10,500>

Ending Fund Balance:                                 $163,296