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

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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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Debra R. Hinsvark

Director of Finance

Approved as to form and legality:

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Nicole Rowlette

Assistant City Attorney