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Legislation #: 041075 Introduction Date: 9/23/2004
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBERS EDDY, HERMANN, MCFADDEN-WEAVER, NASH, RILEY, SKAGGS AND BROOKS
Title: Authorizing the Director of City Development to execute an eighth contract amendment with the Housing and Economic Development Financial Corporation (HEDFC) in the amount of $3,695,126.00 for homeownership assistance; single and multi-family housing development; development assistance; and operating and loan management services from October 1, 2004 through November 30, 2004; and recognizing an emergency.

Legislation History
DateMinutesDescription
9/23/2004

Prepare to Introduce

9/23/2004

Referred Neighborhood Development and Housing Committee

9/29/2004

Hold On Agenda

10/6/2004

Advance and Do Pass as Second Committee Substitute

10/7/2004

Passed As Second Substitute


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SECOND COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 041075

 

Authorizing the Director of City Development to execute an eighth contract amendment with the Housing and Economic Development Financial Corporation (HEDFC) in the amount of $3,695,126.00 for homeownership assistance; single and multi-family housing development; development assistance; and operating and loan management services from October 1, 2004 through November 30, 2004; and recognizing an emergency.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of City Development is hereby authorized to execute an eighth contract amendment with the Housing and Economic Development Financial Corporation, in the amount of $3,695,126.00, for the purpose of providing funds for homeownership assistance, multi-family housing, development assistance, and operating and loan management services as follows:

 

(A) To fulfill the provisions of the 2004 Community Development Block Grant Program through previously appropriated CDBG entitlement funds in the following accounts:

 

05-2650-552102-B Downtown Multi-Family (Sosland & Waltower) $ 340,000.00

05-2650-552103-B City-Wide Multi-Family (Mooneys Villa) 40,000.00

05-2650-552144-B 5300 Woodland Homeownership 50,000.00

TOTAL $ 430,000.00

 

(B) To fulfill the provisions of the 2004 HOME Investment Partnership Program through previously appropriated HOME entitlement funds in the following accounts:

 

05-2940-552146-B Single-family HOMEownership Assistance $ 160,782.00

05-2940-552148-B Downpayment Assistance (ADDI) 388,427.00

05-2940-552147-B Ivanhoe Housing Development 380,000.00

05-2940-552102-B Downtown Multi-Family (Professional Bldg) 285,000.00

TOTAL $1,214,209.00

 

(C) To authorize HEDFC to make up to $1,880,084.00 in expenditures from HEDFC CDBG program income for the following purposes:

 

HEDFC Land Maintenance $ 25,000.00

Niles Home for Children 65,000.00

Downtown Multi-Family (Sosland & Waltower) 50,000.00

Citywide Multi-Family (Mooneys Villa) 100,000.00

Homeownership Program (Second Mortgages) 263,000.00

Housing Predevelopment Support 33,333.00

HEDFC Operations and Loan Management 1,064,584.00

TOTAL $1,600,917.00

 

(D) To authorize HEDFC to make up to $450,000.00 in expenditures from HEDFC HOME Trust Fund program income for the following purposes:

 

HEDFC HOMEownership (Second Mortgages) $ 200,000.00

Downtown Multi-Family (Professional Bldg) 250,000.00

TOTAL $ 450,000.00

 

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