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Legislation #: 080549 Introduction Date: 5/22/2008
Type: Ordinance Effective Date: 6/8/2008
Sponsor: COUNCILMEMBER CIRCO
Title: Authorizing the Director of City Development to execute a contract with Neighborhood Housing Services of Kansas City, Inc. in the amount of $2,500,000.00 for the purpose of administering a second mortgage loan down payment assistance program for the City of Kansas City, Missouri and appropriating funds in the amount of $2,500,000.00 from the Unappropriated Fund Balance of the Fund 2940 to the 09-2940-645315-B Account.

Legislation History
DateMinutesDescription
5/22/2008 Filed by the Clerk's office
5/22/2008 Referred to Housing Committee
5/28/2008 Advance and Do Pass as a Committee Substitute, Debate
5/29/2008 Passed as Substituted

View Attachments
FileTypeSizeDescription
080549.pdf Authenticated 67K Authenticated
Factsheet 4 Ordinance 80549.xls Fact Sheet 110K Fact Sheet
fiscal note.xls Advertise Notice 47K fiscal note
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=080549 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=080549

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 080549

 

Authorizing the Director of City Development to execute a contract with Neighborhood Housing Services of Kansas City, Inc. in the amount of $2,500,000.00 for the purpose of administering a second mortgage loan down payment assistance program for the City of Kansas City, Missouri and appropriating funds in the amount of $2,500,000.00 from the Unappropriated Fund Balance of the Fund 2940 to the 09-2940-645315-B Account.

 

WHEREAS, the City desires to allocate funding in the Home Investment Partnerships Program (HOME) for the purpose of providing eligible applicants with down payment and closing cost assistance through forgivable loans toward the purchase of a home; and

 

WHEREAS, the City sought proposals, through a competitive process, for agencies to administer this program, in accordance with the HOME regulations, by accepting and processing applications from potential eligible homebuyers and through the process selected Neighborhood Housing Services of Kansas City, Inc.s proposal; NOW THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of City Development is hereby authorized to execute a contract with Neighborhood Housing Services of Kansas City, Inc. in the amount of $2,500,000.00 for the purpose of administering a second mortgage loan down payment assistance program for the City of Kansas City, Missouri.

 

Section 2. That the revenue in account 09-2940-645301-476050 of the HOME Funds is estimated in the amount of $2,500,000.00.

 

Section 3. That the sum of $2,500,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Fund 2940 to the following account: 09-2940-645315-B.

____________________________________________

I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred.

___________________________________

Wanda J. Gunter

Acting Director of Finance 

Approved as to form and legality:

 

____________________________

Nicole Rowlette

Assistant City Attorney