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Legislation #: 950605 Introduction Date: 5/4/1995
Type: Ordinance Effective Date: none
Sponsor: None
Title: Authorizing execution of a contract amendment with the Rehabilitation Loan Corporation, decreasing the contract amount by $983,000.00 for a new contract amount of $88,000.00 for the purpose of providing HOME Flood Relief funds; and authorizing execution of contract amendment with the Housing Development Corporation and Information Center, Inc., increasing the contract amount by $2,614,750.00 for a total contract amount of $20,813,589.00, for the Multi-Family Housing 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. 950605

 

Authorizing execution of a contract amendment with the Rehabilitation Loan Corporation, decreasing the contract amount by $983,000.00 for a new contract amount of $88,000.00 for the purpose of providing HOME Flood Relief funds; and authorizing execution of contract amendment with the Housing Development Corporation and Information Center, Inc., increasing the contract amount by $2,614,750.00 for a total contract amount of $20,813,589.00, for the Multi-Family Housing Loan Program.

 

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 Rehabilitation Loan Corporation which decreases the contract amount by $983,000.00 for a new contract amount of $88,000.00, for the purpose of providing HOME Flood Relief funds.

 

Section 2. 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 $2,614,750.00 for a total contract amount of $20,813,589.00, for the purpose of providing funds for loans to be made from the Multi-Family Housing Loan Program, to be paid from funds previously appropriated to Account Nos. 96-264-055-2100-B, Multi-Family Housing ($1,500,000.00), 96-294-055-2134-B, Rehabilitation Loan Corporation-96 ($131,750.00), and 94-294-055-2129-B, Rehabilitation Loan Corporation-Flood Relief ($983,000.00). A copy of the contract amendment, 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