ORDINANCE NO. 061007
Appropriating $3,000,000.00 from
the Unappropriated Fund Balance of the HOME Investment Partnership Fund for the
purpose of providing additional funds for the Citys downpayment assistance and
home development programs.
WHEREAS, this
proposed ordinance adjusts the Citys books to reflect HOME grant revenues
still to be received by the City for its HOME activities; and
WHEREAS, the
City remains committed to the sale of the inventory of unsold houses built by
the CDCs for the City by paying a portion of the development costs for those
properties; and
WHEREAS, the
City has recently restarted its downpayment assistance program for eligible
first-time homebuyers known as the KC Dream Program; NOW, THEREFORE,
BE IT ORDAINED
BY THE COUNCIL OF KANSAS CITY:
Section 1. That
revenues in the following accounts of the Home Investment Fund (No. 2940) are
hereby reduced by the following amounts:
07-2940-640000-476050 HOME
Grant $ 6,567,817.00
07-2940-642146-476050 HOME
Grant 2,845,223.00
07-2940-552146-476860 HOME
Grant 406,738.69
07-2940-642146-481000 Misc.
Contrib. 59,824.00 TOTAL $
9,879,602.69
Section 2. That
revenue in the following accounts of the HOME Investment Fund (No. 2940) are
hereby estimated in the following amounts:
07-2940-640001-476050 HOME
Grant $ 676,063.51
07-2940-640001-476050 HOME
Grant 3,554,209.00
07-2940-640001-476050 HOME
Grant 3,133,498.00
07-2940-640001-476050 HOME
Grant 2,905,047.00
TOTAL $10,268,817.51
Section 3. That
the sum of $3,000,000.00 is hereby appropriated from the Unappropriated Fund
Balance of the Home Investment Fund, (No. 2940), to the following accounts of
the same fund:
07-2940-645313-B Housing
Services $ 1,500,000.00
07-2940-645315-B Homeownership
Assistance 1,500,000.00
TOTAL $
3,000,000.00
_____________________________________________
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.
___________________________________
Debra
R. Hinsvark
Director
of Finance
Approved
as to form and legality:
___________________________________
Nicole
Rowlette
Assistant City Attorney