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Legislation #: 950598 Introduction Date: 5/4/1995
Type: Ordinance Effective Date: none
Sponsor: None
Title: Authorizing execution of a contract amendment with the Housing Development Corporation and Information Center, Inc., which increases the contract amount by $2,400,000.00 for a total amount of $8,938,000.00 for the Single-Family Housing New Construction Loan Program.

Legislation History
DateMinutesDescription
5/4/1995

Prepare to Introduce

5/4/1995

Referred Plans And Zoning Committee

5/10/1995

Hold On Agenda

5/17/1995

Advance and Do Pass

5/18/1995

Passed


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ORDINANCE NO. 950598

 

Authorizing execution of a contract amendment with the Housing Development Corporation and Information Center, Inc., which increases the contract amount by $2,400,000.00 for a total amount of $8,938,000.00 for the Single-Family Housing New Construction Loan Program.

 

WHEREAS, Ordinance No. 940520, passed May 19, 1994, authorized execution of a contract amendment with the Housing Development Corporation and Information Center, Inc., increasing the contract amount by $2,400,000.00 for a total amount of $7,388,000.00 for the Single-Family New Construction Loan Program for CDBG Year 20; and

 

WHEREAS, the total contract amount was subsequently reduced to $7,288,000.00 pursuant to Ordinance No. 941478, passed November 10, 1994; and

 

WHEREAS, $750,000.00 of these funds were not used during CDBG Year 20 and said amount has been liquidated in the City's accounting system; and

 

WHEREAS, the City desires to utilize the remaining $750,000.00 and $1,650,000.00 in additional funds for a total of $2,400,000.00 in funds for the Single-Family Housing New Construction Loan Program during CDBG Year 21; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of the Department of Housing and Community Development is hereby authorized to execute a contract amendment with the Housing Development Corporation and Information Center, Inc., increasing the contract amount by $2,400,000.00 for a total contract amount of $8,938,000.00, for the purpose of providing funds for the Single-Family Housing New Construction Loan Program to be paid from funds previously appropriated to Account No. 96-264-055-2185-B, Home Ownership Development. A copy of the contract, in substantial form, is attached hereto and is hereby approved.

 

_____________________________________________

 

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