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Legislation #: 960432 Introduction Date: 4/18/1996
Type: Ordinance Effective Date: 5/19/1996
Sponsor: None
Title: Authorizing acceptance of a $450,000.00 Urban Enterprise Loan Grant from the Missouri Department of Economic Development and authorizing execution of a Cooperative Agreement for said Grant; estimating revenue and appropriating $450,000.00 to the Urban Enterprise Loan Program Account; designating requisitioning authority; authorizing execution of a $450,000.00 contract with the Kansas City Downtown Minority Development Corporation for said Program; and directing the City Clerk to record certain documents with the appropriate offices.

Legislation History
DateMinutesDescription
5/9/1996

Waive Charter Requirements City Council

4/18/1996

Prepare to Introduce

4/18/1996

Referred Planning, Zoning & Economic Development Committee

4/24/1996

Do Pass

4/25/1996

Assigned to Third Read Calendar

5/2/1996

Held on Docket

5/9/1996

Passed


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ORDINANCE NO. 960432

 

Authorizing acceptance of a $450,000.00 Urban Enterprise Loan Grant from the Missouri Department of Economic Development and authorizing execution of a Cooperative Agreement for said Grant; estimating revenue and appropriating $450,000.00 to the Urban Enterprise Loan Program Account; designating requisitioning authority; authorizing execution of a $450,000.00 contract with the Kansas City Downtown Minority Development Corporation for said Program; and directing the City Clerk to record certain documents with the appropriate offices.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Mayor, on behalf of the City of Kansas City, is hereby authorized to accept the Urban Enterprise Loan Grant, in the amount of $450,000.00, from the Missouri Department of Economic Development, an agency of the State of Missouri.

 

Section 2. That the Mayor is hereby authorized to execute a Cooperative Agreement with the Missouri Department of Economic Development for the receipt of the $450,000.00 Urban Enterprise Loan Grant. A copy of said Cooperative Agreement, in substantial form, is attached hereto and is hereby approved.

 

Section 3. That the revenue in the following account of the General Fund is hereby estimated in the following amount:

 

97-100-055-7194 Urban Enterprise Grant - 97 $450,000.00

 

Section 4. That the sum of $450,000.00 is hereby appropriated from the Unappropriated Fund Balance of the General Fund to the following account:

 

97-100-055-2071-B Urban Enterprise Loan Program $450,000.00

 

Section 5. That the Director of the Department of Housing and Community Development is hereby designated requisitioning authority for Account No. 97-100-055-2071-B.

 

Section 6. That the Director of the Department of Housing and Community Development is authorized to execute a contract with the Kansas City Downtown Minority Development Corporation, in the amount of $450,000.00, for the purpose of administering the Urban Enterprise Loan Program, to be paid from funds herein appropriated to Account No. 97-100-055-2071-B, Urban Enterprise Loan Program. A copy of said contract, in substantial form, is attached hereto and is hereby approved.

 

Section 7. That the City Clerk is hereby directed to file a copy of said Cooperative Agreement with the Missouri Department of Economic Development, together with a copy of this ordinance, with the Department of Records of Jackson County, Missouri, and with the office of the Missouri Secretary of State.

 

_____________________________________________

 

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