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.

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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.

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Randall J. Landes

Director of Finance

Approved as to form and legality:

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M. Margaret Sheahan Moran

Assistant City Attorney