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Legislation #: 910558 Introduction Date: 5/9/1991
Type: Ordinance Effective Date: 6/2/1991
Sponsor: None
Title: Authorizing a contract amendment with Rehabilitation Loan Corporation increasing the contract amount by $795,500.00 for a total of $22,075,414.00 for additional rehabilitation loan funds; and authorizing a $722,000.00 contract with the Rehabilitation Loan Corporation for administrative costs of the Rehabilitation Loan Program.

Legislation History
DateMinutesDescription
5/9/1991

Prepare to Introduce

5/9/1991

Referred Finance Committee

5/15/1991

Do Pass

5/16/1991

Assigned to Third Read Calendar

5/23/1991

Passed


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ORDINANCE NO. 910558

 

Authorizing a contract amendment with Rehabilitation Loan Corporation increasing the contract amount by $795,500.00 for a total of $22,075,414.00 for additional rehabilitation loan funds; and authorizing a $722,000.00 contract with the Rehabilitation Loan Corporation for administrative costs of the Rehabilitation Loan Program.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of Housing and Community Development is hereby authorized to execute a contract amendment with Rehabilitation Loan Corporation increasing the contract amount by $795,500.00 for a total of $22,075,414.00 for the purpose of providing additional funds for rehabilitation loans to be made under the Rehabilitation Loan Program from funds previously appropriated to Account No. 707-65428 B, Rehabilitation Financial Assistance. A copy of the contract in substantial form is attached hereto and made a part hereof.

 

Section 2. That the Director of Housing and Community Development is hereby authorized to enter into a contract with the Rehabilitation Loan Corporation authorizing the expenditure of $722,000.00 of loan repayment funds for administrative costs of the Rehabilitation Loan Program and the Maintenance Reserve Program during CDBG Year 17. A copy of the contract in substantial form is attached hereto and made a part hereof.

 

_______________________________________________________

 

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.

 

 

 

___________________________________

Director of Finance

 

Approved as to form and legality:

 

 

 

___________________________________

Assistant City Attorney