ORDINANCE NO. 120852
Appropriating $250,000.00 from
the Unappropriated Fund Balance of the General Fund for Historic Northeast –
Sustainable Redevelopment Project and for supporting activities which are part
of a broader redevelopment effort; and designating requisitioning authority.
WHEREAS, this project
will involve activities impacting the broader area commonly referred to as the
Historic Northeast (“HNE”) which is generally bounded by Cliff Drive on the
north, Truman Road on the south, I-29/I-35 on the west, and I-435 on the east
but will primarily focus on and target resources around the Independence Avenue
Corridor from Paseo Boulevard east to I-435 including several specific
intersections or “nodes” at Prospect, Benton, and Hardesty and the
neighborhoods of Indian Mound and Lykins, which abut the corridor on the North
and South respectively at the eastern end and center of the corridor; and
WHEREAS, $50,000.00 of
the City funding is providing the local match required to leverage a potential
$150,000.00 grant from the Mid-America Regional Council through their Planning
Sustainable Places Initiative; and
WHEREAS, $200,000.00
of the City funding is providing resources for supporting activities which are
part of a broader redevelopment effort, but which will not be part of any
consulting or planning activities funded by this grant; and
WHERAS, a large portion of the
redevelopment area is located within the Housing Authority’s study area for the
Choice Neighborhoods Initiative planning grant, a program of the Department of
Housing and Urban Development (“HUD”) to support comprehensive neighborhood
revitalization by using the redevelopment of distressed housing as a catalyst
for neighborhood wide transformation; and
WHERAS, this project and
associated redevelopment efforts will support the Housing Authority’s efforts
to demonstrate community capacity in pursuit of a $20-30 million implementation
grant through the same program; and
WHEREAS, City funding
will assist with the implementation of a comprehensive set of pre-development
and business development activities aimed at optimizing economic conditions
within the focus area to attract and retain residents and businesses, to
enhance opportunities for future redevelopment, to create favorable conditions
to secure investment from private developers, to enhance transportation choices
and accessibility, and to utilize zoning tools as a means to ensure quality,
compatible development; and
WHEREAS, completion of these
tasks is urgently needed in order to achieve a sufficient level of
predevelopment activity to attract financially capable private development
partners; and
WHEREAS,
Ordinance No. 120575 was adopted by the City Council on June 28, 2012, which
authorized redemption of Taxable Leasehold Revenue Bonds (Century Towers
Redevelopment Project), Series 2001 (the “Bonds”); and
WHEREAS, the
City finds it necessary to record the defeasance of the Bonds on the City’s
books and recognize non-recurring revenue in an amount equal to the City
Shortfall pursuant to the City’s Non-recurring Revenue Policy as set forth in
Code of Ordinances Section 2-1950; NOW, THEREFORE,
BE IT ORDAINED BY THE
COUNCIL OF KANSAS CITY:
Section 1. That
the sum of $250,000.00 is appropriated from the Unappropriated Fund Balance of
the General Fund to the following account in the General Fund:
13-1000-642700-B
Historic Northeast Initiative $250,000.00
Section 2. That the Director of
City Development is hereby designated as requisitioning authority for Account
No. 13-1000-642700.
_____________________________________________
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:
___________________________________
M.
Margaret Sheahan Moran
Assistant City Attorney