SECOND COMMITTEE
SUBSTITUTE FOR ORDINANCE NO. 081026
Estimating revenue in the amount of
$125,000.00 in the General Fund and appropriating $125,000.00 in the General
Fund to provide funding for the licensing and inspection of short term loan
establishments and a small business initiative by the Economic Development
Corporation; authorizing a $75,000.00 amendment to the annual contract with
Economic Development Corporation.
WHEREAS, there
are approximately 125 short-term loan establishments located within the City
limits of Kansas City, Missouri who will pay an annual registration fee of
$1,000 per year; and
WHEREAS, it is
estimated that up to two additional staff persons will be needed in the
Regulated Industries Division of the Neighborhood and Community Services
Department to administer this and other regulated industries within the City;
and
WHEREAS, up to
$50,000 is needed this year to start the recruitment of individuals to perform
the necessary regulations of these short-term loan establishments; and
WHEREAS, up to
$75,000 will be used to start a small business outreach program at the Economic
Development Corporation; NOW, THEREFORE,
BE IT ORDAINED BY
THE COUNCIL OF KANSAS CITY:
Section 1. That
the revenue in the following account of the General Fund is estimated in the
following amount:
09-1000-572700-455210 Short Term Loan
Establishment Permit
Fees $125,000.00
Section 2. That
the sum of $125,000.00 is hereby appropriated from the Unappropriated Fund
Balance of the General Fund to the following account in the General Fund:
09-1000-572700-A Short Term Loan
Establishment Permit
Fees $
50,000.00
09-1000-642000-B Economic
Development Corporation 75,000.00
TOTAL $125,000.00
Section 3. That
the Director of City Development is hereby authorized to execute, on behalf of
the City, an amendment to the existing contract for this fiscal year with the
Economic Development Corporation, in the amount of $75,000.000 for total funding
of $920,000.00 in FY 2008-09.
_____________________________________________
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.
___________________________________
Jeffrey
A. Yates
Director
of Finance
Approved
as to form and legality:
___________________________________
Kathy
Adams
Assistant City Attorney