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Legislation #: 041103 Introduction Date: 9/30/2004
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER HERMANN
Title: Authorizing execution of a $3,588,294.00 contract with the Housing and Economic Development Financial Corporation for funds for homeownership assistance, multi-family housing, development assistance and operating and loan management services from October 1, 2004 through April 30, 2005.

Legislation History
DateMinutesDescription
9/30/2004

Prepare to Introduce

9/30/2004

Referred Neighborhood Development and Housing Committee

10/6/2004

Hold On Agenda

12/15/2004 Hold On Agenda (1/12/2005)
1/12/2005 Hold On Agenda (2/9/2005)
2/9/2005 Hold On Agenda (2/23/2005)
2/23/2005 Hold Off Agenda
7/13/2005 Release
7/14/2005 Released

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ORDINANCE NO. 041103

 

Authorizing execution of a $3,588,294.00 contract with the Housing and Economic Development Financial Corporation for funds for homeownership assistance, multi-family housing, development assistance and operating and loan management services from October 1, 2004 through April 30, 2005.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Budget Officer of the Office of Management and Budget is hereby authorized to execute a contract with the Housing and Economic Development Financial Corporation, in the amount of $3,588,294.00, for the purpose of providing funds for homeownership assistance, multi-family housing, development assistance, and operating and loan management services as follows:

 

A) 2004 Community Development Block Grant Program funds: Property Acquisition and Maintenance Program, $76,752.00, to be paid from funds previously appropriated to Account No. 2650-552015-B; Multi-family Housing Program, $390,000.00, to be paid from funds previously appropriated to Account No. 2650-55102-B; Mooneys Villa Housing, $140,000.00, to be paid from funds previously appropriated to Account No. 2650-552103-B; Homeownership Program in Strategy Areas, $80,000.00, to be paid from funds previously appropriated to Account No. 2650-552144-B; Housing Predevelopment Assistance, $200,000.00, to be paid from funds previously appropriated to Account No. 2650-552145-B; and returning CDBG program income to the City from HEDFC in the amount of $587,000.00 for funding the Minor Home Repair Program;

 

B) 2004 HOME Investment Partnership Program funds for: Singe-family HOMEownership Assistance Program, $711,446.00, to be paid from funds previously appropriated to Account No. 2650-552146-B; KC-American Dream Downpayment Assistance Program, $388,427.00, to be paid from funds previously appropriated to Account Nos. 2650-552148-B; Ivanhoe Housing Development, $380,000.00, to be paid from funds previously appropriated to Account No. 2650-552147-B; Multi-family Housing Development in the Downtown Area, $576,669.00, to be paid from funds previously appropriated to Account No. 2650-52102-B;

 

C) Miscellaneous City Program Income funds: 5300 Woodland Homeownership Assistance, $50,000.00, to be paid from funds previously appropriated to Account Nos. 2650-552144-B, and authorizing expenditure of $2,996,666.00 of loan repayments from the Rehabilitation Loan Program, the and the Second Mortgage Loan Program, Multi-family Loan Program and HOME Investment Partnership Program and other program income received. A copy of the contract, in substantial form, is filed with the Office of the City Manager.

 

_____________________________________________

 

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:

 

 

______________________________

Nicole Rowlette

Assistant City Attorney