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Legislation #: 170916 Introduction Date: 11/9/2017
Type: Ordinance Effective Date: none
Sponsor: MAYOR LUCAS
Title: Estimating revenue in the amount of $200,000.00 in the HOME Investment Partnerships (HOME) Program; appropriating $200,000.00 from the Unappropriated Fund Balance of the HOME Investment Partnerships Program; authorizing the Director of Neighborhoods and Housing Services to enter into contracts, financing agreements, and loan documents with various entities for acquisition and rehabilitation of affordable multi-family and single family housing units in an amount up to $900,000.00 from HOME funds; and recognizing an accelerated effective date.

Legislation History
DateMinutesDescription
11/9/2017 Filed by the Clerk's office
11/9/2017 Referred to Neighborhoods and Public Safety Committee
11/29/2017 Advance and Do Pass, Debate
11/30/2017 Passed

View Attachments
FileTypeSizeDescription
170916.pdf Authenticated 114K Authenticated
170916 approp admin.pdf Other 12K 170916 Approp Admin
170916 Fiscal Note .pdf Fiscal Note 15K 170916 Fiscal Note
170916 Fact Sheet (3).pdf Fact Sheet 23K 170916 Fact Sheet

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ORDINANCE NO. 170916

 

Estimating revenue in the amount of $200,000.00 in the HOME Investment Partnerships (HOME) Program; appropriating $200,000.00 from the Unappropriated Fund Balance of the HOME Investment Partnerships Program; authorizing the Director of Neighborhoods and Housing Services to enter into contracts, financing agreements, and loan documents with various entities for acquisition and rehabilitation of affordable multi-family and single family housing units in an amount up to $900,000.00 from HOME funds; and recognizing an accelerated effective date.

WHEREAS, on February 2, 2017, through Resolution No. 170014, the Council approved the 2017 One-Year Action Plan which included HOME Investment Partnerships Program (HOME) funds for housing development in targeted areas; and

WHEREAS, Woodbridge Apartments was awarded 2017 State and Federal 9% low income housing tax credits through the Missouri Housing Development Commission and City HOME funds are necessary to provide partial funding to support the rehabilitation of 115 units of affordable housing and for the project to move forward; and

WHEREAS, Ivanhoe Neighborhood Council, Inc., has applied for a Federal Home Loan Bank of Des Moines grant which will leverage the HOME funds investment and allow a minimum of four additional units to be acquired, rehabilitated and sold to eligible homebuyers in the neighborhood; and

WHEREAS, Westside Housing Organization, Inc., a certified Community Housing Development Organization (CHDO) as defined in 24 CFR 92 Subpart G in the HUD HOME regulations, will acquire and rehabilitate two additional units in the Manheim Park Neighborhood project which assists the City in meeting its 15% HOME CHDO set-aside requirement; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. Estimating revenue in the amount of $200,000.00 in the following account of the HOME Investment Partnerships Program Fund:

18-2940-570001-476050-G57HOME17 HUD $200,000.00

Section 2. That $200,000.00 is appropriated in the following account of the HOME Investment Partnerships Program:

18-2940-575326-B-G57HOME17 HOME Program $200,000.00

Section 3. That the Director of Neighborhoods and Housing Services is hereby authorized to expend up to $900,000.00 from funds appropriated to the HOME Investment Partnerships Program in Account No. 2940-575326-B-G57HOME17 and to enter into the following affordable housing contracts, financing agreements and loan documents, copies of which, in substantial form, are on file in the office of the Director of Neighborhoods and Housing Services and are incorporated herein by reference:

Woodbridge Preservation, LLC $300,000.00

Ivanhoe Neighborhood Council 300,000.00

Westside Housing Organization, Inc. 300,000.00

TOTAL $900,000.00

 

Section 4. This ordinance is recognized as an ordinance with an accelerated effective date as provided by Section 503(a)(3)(C) of the City Charter in that it appropriates money, and shall take effect in accordance with Section 503, City Charter.

 

_____________________________________________________

 

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.

  

 

____________________________________

Randall J. Landes

Director of Finance

 

Approved as to form and legality:

 

 

____________________________________

Nicole Rowlette

Assistant City Attorney