RESOLUTION NO. 911098

Amending Resolution No. 910372; authorizing submission of an amended CDBG - Year 17 Statement of Objectives and Projected Use of Funds adding the Old General Hospital - North Tower Project; desiring to borrow $6.6 million for the Project through Title I, Section 108 of the Housing and Community Development Act; designating Land Clearance for Redevelopment Authority of Kansas City, Missouri, to receive the Loan Guarantee; certifying the use of security required for said loan; affirming use of program income; and expressing intent to assist in the repayment of said loan utilizing sales tax, general fund or other resources.

WHEREAS, the City Council on April 4, 1991, adopted Resolution No. 910372 which authorized submission of a request for $5.3 million dollars in 108 loans to rehabilitate the North Tower of General Hospital; and

WHEREAS, subsequent refining of said Project indicates that the cost of renovation -- depending upon design options chosen -- could reach up to $6.6 million dollars; and

WHEREAS, the presently sitting City Council wishes to confirm its committment to the North Tower Project and to amend the 108 application to reflect refined design and construction cost estimates; NOW, THEREFORE,

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

Section 1. That Sections 1, 2, 3, 4, 5 and 6 of Resolution No. 910372 are hereby repealed.

Section 2. That the Mayor is hereby authorized to submit on behalf of the City, an amended CDBG Year 17 Statement of Objectives and Projected Use of Funds adding a new project to be known as the Old General Hospital - North Tower Project in the amount of $6,600,000.00.

Section 3. That the City Council desires to borrow $6,600,000.00 for the Old General Hospital - North Tower Project through Title I, Section 108, of the Housing and Community Development Act of 1974, as amended.

Section 4. That the City Council hereby designates the Land Clearance for Redevelopment Authority of Kansas City, Missouri, as the public agency to receive the Loan Guarantee from the U.S. Department of Housing and Urban Development in the amount of $6,600,000.00 for the Old General Hospital - North Tower Project.

Section 5. That the City Council hereby certifies that the security required by Section 570.703(b) as a condition of Section 108 loan by future grant entitlements will be given to secure repayment of said loan.

Section 6. That the City Council hereby affirms that program income derived from the disposition by sale or lease of any real property acquired or rehabilitation with the loan funds shall be used for repayment of the loan.

Section 7. That the City Council hereby expresses its intent to assist in the repayment of the principal and interest of said loan utilizing sales tax, general fund or other resources.

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