Houston’s credit outlook takes hit after Prop B passage

Houston’s credit outlook has taken a hit after voters earlier this month approved a measure to pay firefighters the same as city police officers.

Fitch Ratings this week downgraded the city’s credit outlook from “stable” to “negative,” saying the anticipated $100 million annual cost of the voter-approved ballot initiative will hamper the city’s spending ability and could lead to a downgrade in the its AA bond ratings in the future. Such a downgrade would mean higher borrowing costs and could further squeeze the city’s budget.

Bush touts Harris County’s progress on flood control

Texas Land Commissioner George P. Bush on Friday morning touted Harris County’s progress on flood control during a visit to a detention basin under construction.

The visit to the site, at Interstate 45 and Greens Bayou in north Houston, was part of a bus tour of properties the county has purchased to raze buildings to remove them from the floodplain.

The land commissioner’s office shepherds disaster funds from Congress to Harris County and the city of Houston, which rely heavily on federal money to support flood control projects. Both the county and the city are set to receive more than $1 billion in recovery funds from the Federal Emergency Management Agency.

Bush touts Harris County’s progress on flood control

Texas Land Commissioner George P. Bush on Friday morning touted Harris County’s progress on flood control during a visit to a detention basin under construction.

The visit to the site, at Interstate 45 and Greens Bayou in north Houston, was part of a bus tour of properties the county has purchased to raze buildings to remove them from the floodplain.

The land commissioner’s office shepherds disaster funds from Congress to Harris County and the city of Houston, which rely heavily on federal money to support flood control projects. Both the county and the city are set to receive more than $1 billion in recovery funds from the Federal Emergency Management Agency.