Good morning, Houston! I hope you enjoyed the beautiful weather this weekend because things will take a dramatically different turn today. The area will see severe weather overnight tonight as a cold front comes through, with some street flooding possible in some areas, but then the rest of the week looks uneventful, Space City Weather reports.
Here are five more things to know today.
• Speaking of flooding, the U.S. Department of Housing and Urban Development approved the Texas General Land Office’s amended plan for distributing flood-mitigation funding. Harris County will get $750 million, and the Houston-Galveston Area Council will get $488 million, KHOU 11 reports. But the city of Houston doesn’t get any of the funding, despite being one of the places hardest hit by Hurricane Harvey. When the GLO announced its initial plan for the funding, Harris County didn’t get get anything either, but the GLO updated its plan after facing backlash. Earlier this month, HUD released a letter saying the method the GLO used to make its initial decision “discriminated on the basis of race and national origin through the use of scoring criteria that substantially disadvantaged Black and Hispanic residents.” On Friday, Houston Mayor Sylvester Turner said he was “extremely disappointed” that HUD decided to approve the amended GLO plan.
• The U.S. Securities and Exchange Commission is expected to announce its draft rules for climate change disclosures today, according to multiple reports. Six people with knowledge of the proposal told Reuters that in addition to disclosing their own greenhouse gas emissions, companies likely will have to disclose those of suppliers and partners, known as Scope 3 emissions. The proposal is expected to be contentious, as corporations have argued Scope 3 emissions do not have an agreed upon methodology and could result in costly litigations if data is wrong, per Reuters. In recent years, some companies have started releasing more information about sustainability efforts as the focus on environmental, social and governance initiatives has ramped up. But at least one expert told Reuters the data released so far is “a hot mess.”
• A large, long-vacant eyesore along Chimney Rock Road near the Galleria has been torn down. Crews began demolishing the former Big Woodrow’s building at the corner of Chimney Rock and Fairdale Lane Friday morning, according to multiple reports. The restaurant had been open for more than 25 years, but the building has been vacant since it closed in 2015. Francis Ajayi, the new owner of the property, plans to open a “new establishment to support local farmers and liquor producers” on the site by 2023, KHOU 11 reports. “At Destination H, we plan to offer patrons a unique variety of crafted cocktails and American fare dishes for every appetite,” he said.
• Last week ended with big news in the Houston sports world. Not only did reports surface that the Houston Texans were trading Deshaun Watson to the Cleveland Browns in a huge deal, but shortly thereafter multiple media outlets reported that Houston Astros shortstop Carlos Correa is also leaving. Sources said he agreed to a three-year, $105.3 million contract with the Minnesota Twins, per the reports. He has the option to opt out after the 2022 and 2023 seasons to become a free agent, according to an Associated Press report posted by Fox 26 Houston. The news came as a surprise given the Twins’ 18 consecutive postseason losses and last-place finish in the AL Central, the report notes. Meanwhile, the University of Houston is moving on in the NCAA tournament after beating Illinois 68-53. Next up, UH faces Arizona on Thursday.
• Finally, in case you missed it, our cover story this week was a Q&A with Eric Langan, chairman, president and CEO of Houston-based RCI Hospitality Holdings Inc. (Nasdaq: RICK). RCI, parent company of brands like Bombshells Restaurant & Bar, Rick’s Cabaret, Tootsies Cabaret, XTC Cabaret, Club Onyx and others, is one of very few publicly traded nightclub owners — and investors have taken note. After completing its biggest acquisition in company history last year and seeing a colossal surge in its stock price, RCI is prepped for more growth in the coming months. Click here to read more.
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