KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 980438 Introduction Date: 4/16/1998
Type: Ordinance Effective Date: 5/3/1998
Sponsor: COUNCILMEMBER BACCHUS AND COUNCILMEMBER SIMMONS
Title: Authorizing a contract amendment with the Housing and Economic Development Financial Corporation, which decreases the contract amount by $497,000.00 in the Single-Family New Construction Loan Program; reducing the appropriation in the amount of $497,000.00 in the Home Ownership Development account of the Community Development Fund - Year 23; appropriating $497,000.00 to the Multi-Family Housing account of the Community Development Fund - Year 23; authorizing a contract amendment with the Housing and Economic Development Financial Corporation, increasing the contract amount by $497,000.00, for the Multi-Family Housing Loan Program; designating requisitioning authority; and approving an amendment to the 1998 Consolidated Plan.

Legislation History
DateMinutesDescription
4/16/1998

Prepare to Introduce

4/16/1998

Referred Planning, Zoning & Economic Development Committee

4/22/1998

Advance and Do Pass

4/23/1998

Passed


View Attachments
FileTypeSizeDescription
No attachment(s) found

Printer Friendly Version

 

ORDINANCE NO. 980438

 

Authorizing a contract amendment with the Housing and Economic Development Financial Corporation, which decreases the contract amount by $497,000.00 in the Single-Family New Construction Loan Program; reducing the appropriation in the amount of $497,000.00 in the Home Ownership Development account of the Community Development Fund - Year 23; appropriating $497,000.00 to the Multi-Family Housing account of the Community Development Fund - Year 23; authorizing a contract amendment with the Housing and Economic Development Financial Corporation, increasing the contract amount by $497,000.00, for the Multi-Family Housing Loan Program; designating requisitioning authority; and approving an amendment to the 1998 Consolidated Plan.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of the Department of Housing and Community Development is hereby authorized to execute a contract amendment with the Housing and Economic Development Financial Corporation, decreasing the contract amount by $497,000.00 to a total contract amount of $13,041,000.00, for the purpose of reducing funds from the Single-Family New Construction Loan Program to be reallocated to the Multi-Family Housing Program. A copy of the contract amendment, in substantial form, is attached hereto and is hereby approved.

 

Section 2. That the appropriation in the following account of the Community Development Fund - Year 23 is hereby reduced by the following amount:

 

98-266-055-2185-B Home Ownership Development $497,000.00

 

Section 3. That the sum of $497,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Community Development Fund - Year 23, Fund No. 266, to the following account in said Fund:

 

98-266-055-2100-B Multi-Family Housing $497,000.00

 

Section 4. That the Director of the Department of Housing and Community Development is hereby authorized to execute a contract amendment with the Housing and Economic Development Financial Corporation, increasing the contract amount by $497,000.00 for a total contract amount of $23,418,589.00, for funds for the Mutli-Family Housing Loan Program to be paid from funds herein appropriated to Account No. 98-266-055-2100-B, Multi-Family Housing. A copy of the contract amendment, in substantial form, is attached hereto and is hereby approved.

 

Section 5. That the Director of the Department of Housing and Community Development is hereby designated as requisitioning authority for Account No. 98-266-055-2100.

 


Section 6. That an amendment to the 1998 Consolidated Plan, decreasing the Single-Family New Construction Program by $497,000.00 and increasing the Multi-Family Housing Loan Program by $497,000.00, is hereby approved.

 

________________________________________________________

 

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.

 

 

___________________________________

Director of Finance

 

 

Approved as to form and legality:

 

 

 

___________________________________

Assistant City Attorney