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Legislation #: 050047 Introduction Date: 1/13/2005
Type: Ordinance Effective Date: none
Sponsor: None
Title: Reducing and reappropriating the sum of $350,000.00 from the PIAC Supplementary Fund; declaring the City’s intent to repay this loan from the 2005 CDBG Consolidated Plan; and designating requisitioning authority.

Legislation History
DateMinutesDescription
1/12/2005 Filed by the Clerk's office
1/13/2005 Referred to Planning, Zoning & Economic Development Committee
1/19/2005 Hold On Agenda (1/26/2005)
2/2/2005 Referred to Neighborhood Development and Housing Committee
2/9/2005 Hold On Agenda (2/23/2005)
2/23/2005 Hold On Agenda (3/9/2005)
3/9/2005 Hold Off Agenda
1/18/2006 Released

View Attachments
FileTypeSizeDescription
Housing Approp _ Admin. Sheet.xls Other 322K Approp & Admin Sheet
Fiscal Note.xls Fiscal Note 32K Fiscal Note
Fact Sheet.xls Fact Sheet 23K Ordinance Fact Sheet

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 050047

 

Reducing and reappropriating the sum of $350,000.00 from the PIAC Supplementary Fund; declaring the Citys intent to repay this loan from the 2005 CDBG Consolidated Plan; and designating requisitioning authority.

 

WHEREAS, the City of Kansas City is desirous of completing the final acquisition, relocation and demolition of five properties along Wabash from 62nd to 63rd to prepare for the planned Citadel Plaza redevelopment project along 63rd St.; and

 

WHEREAS, the approved 2004 CDBG plan did not allocate any funds to complete this acquisition and demolition; and

 

WHEREAS, the conditions in what remains of the neighborhood have significantly deteriorated to the point that an imminent public health risk exists for the remaining residents; and

 

WHEREAS, elimination of these five remaining blighted structures will allow the redevelopment project to proceed; and

 

WHEREAS, the City and the Community Development Corporation of Kansas City (Developer) have agreed that no additional properties for the project will be acquired beyond these five until such time as all of the project construction proceeds have been fully assembled; and

 

WHEREAS, the City and the Developer are pursuing the use of tax increment financing revenue for the project which would allow these funds to be potentially repaid by the use of tax increment financing bond proceeds; and

 

WHEREAS, this proposed use for the PIAC Supplementary Fund is consistent with its original intent albeit with a different funding repayment mechanism; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the sum of $350,000.00 is hereby reduced from the following account of the PIAC Supplemental Fund in the Equipment Lease Capital Fund:

 

AL-3230-897000-B PIAC Supplementary Fund $350,000.00


Section 2. That the sum of $350,000.00 is hereby appropriated from the Unappropriated Fund Balance of Equipment Lease Capital Fund to the following account in the Equipment Lease Capital Fund:

 

05-3230-642025-B Property and Acquisition $350,000.00

Section 3. That the Director of City Development is hereby designated as requisitioning authority for Account No. 05-3230-642025.

 

Section 4. That the City Council hereby states its intent to repay a total of up to $355,000.00 in funds from the 2005 Consolidated Plan and hereby directs the City Manager to include this amount in the 2005 City of Kansas City Consolidated Plan.

 

_____________________________________________

 

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 Gunter

Acting Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Heather A. Brown

Assistant City Attorney