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Legislation #: 120947 Introduction Date: 10/25/2012
Type: Ordinance Effective Date: 11/25/2012
Sponsor: COUNCILMEMBER WAGNER AND COUNCILMEMBER DAVIS
Title: Authorizing Cooperative Agreement with the Tax Increment Financing Commission of Kansas City, Missouri for a housing program in the benefit district of the Chouteau Tax Increment Financing Redevelopment Area in an amount up to $223,000.00; appropriating $770,814.00 in Fund 5230, the Equipment Lease Debt Service Fund as a transfer to Fund 3090, the Capital Improvements Fund; estimating revenues in the amount of $60,000.00 in the Capital Improvements Fund; appropriating $60,000.00 in the Capital Improvements Fund to provide funds for the agreement; and designating requisitioning authority.

Legislation History
DateMinutesDescription
10/25/2012 Filed by the Clerk's office
10/25/2012 Referred to Finance, Governance & Ethics Committee
10/31/2012 Hold On Agenda (11/7/2012)
11/7/2012 Do Pass as a Committee Substitute
11/8/2012 Assigned Third Read Calendar as Substituted
11/15/2012 Passed as Substituted

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120947 Revised Fact Sheet.xlsx Fact Sheet 35K Revised Fact Sheet
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120947 Fact Sheet.xls Fact Sheet 77K Fact Sheet

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 120947

 

Authorizing Cooperative Agreement with the Tax Increment Financing Commission of Kansas City, Missouri for a housing program in the benefit district of the Chouteau Tax Increment Financing Redevelopment Area in an amount up to $223,000.00; appropriating $770,814.00 in Fund 5230, the Equipment Lease Debt Service Fund as a transfer to Fund 3090, the Capital Improvements Fund; estimating revenues in the amount of $60,000.00 in the Capital Improvements Fund; appropriating $60,000.00 in the Capital Improvements Fund to provide funds for the agreement; and designating requisitioning authority.

 

   WHEREAS, the City desires to support the efforts of the Tax Increment Financing Commission of Kansas City, Missouri to fund a home repair program in the benefit district of the Chouteau Tax Increment Financing Redevelopment Area; and

  WHEREAS, the Chouteau TIF Advisory Committee made a motion to amend the TIF Budget by $162,000.00 to an amount not to exceed $223,000.00 for the Chouteau TIF Housing Program; and

WHEREAS, this additional funding is subject to TIF Commission approval, which is anticipated for consideration in January 2013; NOW, THEREFORE,

  BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

  Section 1. That the Director of Neighborhoods and Housing Services, on behalf of the City, is hereby authorized and directed to execute a Cooperative Agreement with the Tax Increment Financing Commission of Kansas City in the amount up to $223,000.00 for the purpose of funding supplemental funding for a home repair program in the benefit district of the Chouteau Tax Increment Financing Redevelopment Area of which $60,000.00 which was previously approved as part of existing Chouteau TIF, is currently being appropriated. This program will assist in implementing North Jackson Neighborhood Action Plan housing improvement activities with said cooperative agreement in substantial form on file in the office of the Director of Neighborhoods and Housing Services.

Section 2. That sum of $770,814.00 is hereby appropriated from the Unappropriated Fund Balance of the Equipment Lease Debt Service Fund to the following accounts:

 

13-5230-129998-903090 Transfer to the Capital Improvements

Fund $710,814.00

13-5230-129998-901000 Transfer to the General Fund 60,000.00

TOTAL $770,814.00 

 


Section 3. That the revenue in the following account of the Capital Improvements Fund is hereby estimated in the following amounts:

 

13-3090-120000-505230 Transfer from the Eq. Lease Debt

Service Fund $710,814.00

 

Section 4.  That the revenue in the following account of the General Fund is hereby estimated in the following amounts:

 

13-1000-120000-501000 Transfer from the Eq. Lease Debt

Service Fund $ 60,000.00

 

Section 5. That sum of $60,000.00 is hereby appropriated from the Unappropriated Fund Balance of the General Fund to the following account:

 

13-1000-572348-B Chouteau TIF Housing Program $ 60,000.00

 

Section 6. That the Director of Neighborhoods and Housing Services is hereby designated as requisitioning authority for Account No. 13-1000-572348.

 

Section 7. That the Director of Neighborhoods and Housing Services is authorized to expend the sum of $60,000.00 from Account No.13-1000-572348 in consideration of such agreement.

_____________________________________________

 

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.

 

 

___________________________________

Randall J. Landes

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Nicole Rowlette

Assistant City Attorney