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Legislation #: 100620 Introduction Date: 7/29/2010
Type: Ordinance Effective Date: 8/14/2010
Sponsor: COUNCILMEMBER SANDERS BROOK AND COUNCILMEMBER CURLS
Title: Authorizing the Director of City Development to enter into a contract with the Jazz District Redevelopment Corporation (JDRC) in the amount of $538,820.05; appropriating $538,820.05 from the Unappropriated Fund Balance in the Section 108 Loan Fund for expenditures related to the Highland Place Project; and designating requisitioning authority.

Legislation History
DateMinutesDescription
7/29/2010 Filed by the Clerk's office
7/29/2010 Referred to Housing Committee
8/4/2010 Advance and Do Pass, Debate
8/5/2010 Passed

View Attachments
FileTypeSizeDescription
100620.pdf Authenticated 86K AUTHENTICATED
fact sheet.xls Advertise Notice 169K fact sheet
admin.xls Advertise Notice 104K revised approp and admin
fiscal note.xls Advertise Notice 70K revised fiscal note
Highland Place Fact Sheet.xls Fact Sheet 179K Fact Sheet
Approp and Admin-Highland Place.xls Other 104K Approp and Admin Form
Highland Place fiscal note.xls Fiscal Note 66K Fiscal note

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ORDINANCE NO. 100620

 

Authorizing the Director of City Development to enter into a contract with the Jazz District Redevelopment Corporation (JDRC) in the amount of $538,820.05; appropriating $538,820.05 from the Unappropriated Fund Balance in the Section 108 Loan Fund for expenditures related to the Highland Place Project; and designating requisitioning authority.

 

WHEREAS, the residential homes along Vine Street and the Rochester Hotel are a portion of the historic 18th & Vine District and comprise the Highland Place redevelopment project; and

 

WHEREAS, the City has established the renovation and preservation of the residential units and the related historic elements of the Highland Place as a priority; and

 

WHEREAS, the Highland Place project was fully funded in January 2008 and various design firms were directed to undertake design activities; and

 

WHEREAS, the Local Initiatives Service Corporation (LISC) has loaned the JDRC funds for the acquisition of the Highland Place properties; and

 

WHEREAS, due to the adverse conditions affecting the financial capital markets, the financing structure for the project collapsed leaving no funds to repay loans or compensate vendors on the project who had completed their design and analysis work; and

 

WHEREAS, the City previously accepted a Section 108 Loan Guarantee from the U.S. Department of Housing and Urban Development for use in the 18th and Vine District; and

 

WHEREAS, the City has a balance of Section 108 funds available to the Highland Place project; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Director of City Development is authorized to enter into a Contract with the Jazz District Redevelopment Corporation in the amount of $538,820.05 from the Unappropriated Fund Balance in the Section 108 Loan Fund to Account No. 11-2540-646700-B for expenditures related to the Highland Place Project. A copy of the agreement, in substantial form, is on file in the office of the Director of City Development.


Section 2. That the sum of $538,820.05 is appropriated from the Unappropriated Fund Balance in the Section 108 Loan Fund to the following account:

11-2540-646700-B 18th & Vine Project $538,820.05

Section 3. That the Director of City Development is hereby designated as requisitioning authority for Account Number 11-2540-646700.

_________________________________________

I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the forgoing 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:

 

_____________________________

Nicole Rowlette

Assistant City Attorney