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Legislation #: 120040 Introduction Date: 1/12/2012
Type: Ordinance Effective Date: 1/29/2012
Sponsor: None
Title: Authorizing the Director of City Development to execute an agreement not to exceed $1,479,751.00 with the Economic Development Loan Corporation to administer the Kansas City Brownfields Revolving Loan Fund Program, capitalized in part with funds made available by the American Recovery and Reinvestment Act of 2009; and authorizing expenditures of $1,479,751.00 from previously appropriated funds.

Legislation History
DateMinutesDescription
1/11/2012 Filed by the Clerk's office
1/12/2012 Referred to Planning, Zoning & Economic Development Committee
1/18/2012 Advance and Do Pass, Debate
1/19/2012 Councilmember Ford Move to Amend
1/19/2012 Passed as Amended

View Attachments
FileTypeSizeDescription
120099_Fact_Sheet[Comm. Sub.].docx Fact Sheet 26K Revised Fact Sheet for Committee Substitute
120040.tiff Authenticated 68K AUTHENTICATED
Fiscal Notes - KCMO - FMA.xls Fiscal Note 68K Fiscal Note
General Ordinance Fact Sheet - FMA.doc Fact Sheet 60K Fact Sheet

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ORDINANCE NO. 120040, AS AMENDED

 

Authorizing the Director of City Development to execute an agreement not to exceed $1,479,751.00 with the Economic Development Loan Corporation to administer the Kansas City Brownfields Revolving Loan Fund Program, capitalized in part with funds made available by the American Recovery and Reinvestment Act of 2009; and authorizing expenditures of $1,479,751.00 from previously appropriated funds.

 

WHEREAS, the City accepted a Brownfields Cleanup Revolving Loan Fund (“Brownfield RLF”) grant in 2000 from the U.S. Environmental Protection Agency (“EPA”) in the amount of $500,000.00 as authorized by Ordinance No. 001210; and 

 

WHEREAS, the City in 2007 accepted supplemental funding from the EPA in the amount of $500,000.00 to increase capitalization of the Kansas City Brownfields Revolving Loan Fund as authorized by Ordinance No. 070894; and

 

WHEREAS, the City in 2010 accepted from the EPA additional Brownfield RLF supplemental funding in the amount of $600,000.00, and additional Brownfield RLF supplemental funding from the American Recovery and Revitalization Act (ARRA) in the amount of $560,000.00, all as authorized by Ordinance No. 100138; and

 

WHEREAS, the Brownfield RLF program is an important source of low-interest capital that can be used to finance loans and subgrant funds for the cleanup of abandoned and underutilized properties and to help create jobs and new economic opportunities for economically distressed communities in Kansas City; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of the Department of City Development is hereby authorized to execute an agreement not to exceed $1,479,751.00 with the Economic Development Loan Corporation to administer the Kansas City Brownfields Revolving Loan Fund Program. A copy of the agreement, in substantial form, is attached hereto and is hereby approved.

Section 2. That the Director of the Department of City Development is authorized to expend up to the sum of $1,479,751.00 from funds previously appropriated to Account No. 12-2550-645020, to satisfy the cost of this agreement.

 

_____________________________________________

 


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:

 

 

___________________________________

Matthew Gigliotti

Assistant City Attorney