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Legislation #: 180677 Introduction Date: 8/30/2018
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER TAYLOR
Title: Establishing the Affordable Housing Fund to further the City’s goal of promoting the acquisition, rehabilitation, or new construction of rental housing targeted to lower-income households within the City; and directing the City Manager to establish a low income housing pilot program.

Legislation History
DateMinutesDescription
8/30/2018 Filed by the Clerk's office
8/30/2018 Referred to Planning, Zoning & Economic Development Committee
9/12/2018 Referred to Housing Committee
9/26/2018 Hold On Agenda (10/10/2018)
10/17/2018 Hold On Agenda (10/24/2018)
11/28/2018 Hold On Agenda (12/12/2018)
12/12/2018 Hold On Agenda (12/19/2018)
12/19/2018 Hold Off Agenda

View Attachments
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NO Fact sheet.pdf Other 367K No Fact Sheet
180677 Ordinance.pdf Other 67K Ordinance

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ORDINANCE NO. 180677

 

Establishing the Affordable Housing Fund to further the City’s goal of promoting the acquisition, rehabilitation, or new construction of rental housing targeted to lower-income households within the City; and directing the City Manager to establish a low income housing pilot program.

 

WHEREAS, the Low-Income Housing Tax Credit (LIHTC) program has proven itself to be a valuable tool in promoting the acquisition, rehabilitation, or new construction of rental housing targeted to lower-income households within the City; and

 

WHEREAS, developers have pursued low-income housing tax credits as an incentive to build affordable housing projects as financing those type of projects without them can be difficult, if not impossible; and

 

WHEREAS, the State of Missouri recently impaired the City’s ability to promote low-income housing by its decision to end matching funding for the LIHTC program, and Governor Parson has indicated that he will not pursue their reinstatement this year; and

 

WHEREAS, the City Council is unwilling to allow affordable housing to fall by the wayside while the merits of LIHTC continue to be debated in Jefferson City; and

 

WHEREAS, the City periodically receives distributions of surplussed EATS and a pro rata share of surplussed PILOTS when tax increment financing plans expire or are otherwise terminated (“TIF Surpluses”); and

 

WHEREAS, those sources can provide startup funding over the next five years for the Affordable Housing Fund; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

  

Section 1. That the Affordable Housing Fund is hereby established and shall be funded from future TIF Surpluses distributed to the City for the next five years.

Section 2. That the City Manager shall develop a pilot program for the purpose of providing low-income housing cash subsidies to be drawn down over time, subject to the limitations of funding available within the Affordable Housing Fund, and shall provide for compliance periods and recapture provisions similar in structure to those under the LIHTC program.


Section 3. That the direction of any one-time revenues to the Affordable Housing Fund shall be deemed an appropriate use for non-recurring expenditures pursuant to Section 2-1970(g), Code of Ordinances.

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Approved as to form and legality:

 

 

_____________________________

Saskia Jacobse

Assistant City Attorney