KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 110376 Introduction Date: 5/12/2011
Type: Ordinance Effective Date: 6/6/2011
Sponsor: None
Title: Reducing the Contingent Appropriation in the General Fund by $102,978.71; appropriating it to the HEDFC Property Maintenance account in the General Fund to cover the repayment of HEDFC Receiver’s Real Estate Owned (REO) assets that are non-compliant with the U.S. Department of Housing and Urban Development’s (HUD) national objectives and grant requirements.

Legislation History
DateMinutesDescription
5/11/2011 Filed by the Clerk's office
5/12/2011 Referred to Plans, Zoning & Economic Development Committee
5/18/2011 Do Pass
5/19/2011 Add to Consent Docket
5/26/2011 Passed

View Attachments
FileTypeSizeDescription
110376.pdf Authenticated 1074K Authenticated
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=110376 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=110376
Approp Transaction 2901.xls Other 39K other
Fiscal Note 2901.xls Fiscal Note 63K Fiscal Note
Ineligible Activity Ord GOFS.xls Fact Sheet 164K Fact Sheet

Printer Friendly Version

ORDINANCE NO. 110376

 

Reducing the Contingent Appropriation in the General Fund by $102,978.71; appropriating it to the HEDFC Property Maintenance account in the General Fund to cover the repayment of HEDFC Receiver’s Real Estate Owned (REO) assets that are non-compliant with the U.S. Department of Housing and Urban Development’s (HUD) national objectives and grant requirements.

WHEREAS, as part of the closing of the Housing and Economic Development Financial Corporation (“HEDFC”) receivership, the City of Kansas City has identified a parcel of land once owned by HEDFC wherein Community Development Block Grant (CDBG) and Home Investment Partnership (HOME) funds were invested in an attempt to develop multifamily housing; and

WHEREAS, following the expenditure of CDBG and HOME funds for the project, a decision was made by HEDFC not to pursue the development of affordable housing; and

WHEREAS, this parcel will no longer meet a national objective for the use of CDBG funds or be an eligible activity for the use of HOME funds; and

WHEREAS, HUD has instructed the City that all of the funds spent on acquiring and maintaining these parcels must be repaid from non-federal sources to the City’s CDBG and HOME lines of credit; and

WHEREAS, these funds will then be available for qualified purposes under the City’s CDBG and HOME programs; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the appropriation in the following account of the General Fund is reduced by the following amount:

12-1000-179990-B Contingent Appropriation $102,978.71

Section 2. That $102,978.71 is appropriated from the Unappropriated Fund Balance of the General Fund to the following account:

12-1000-552266-B HEDFC Property Maintenance $102,978.71

  Section 3. That the Director of Housing and Community Development is hereby designated as requisitioning authority for Account No. 12-1000-552266.

_________________________________________________

 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.

  

 

___________________________________

Randall J. Landes

Director of Finance

 

Approved as to form and legality:

 

 

 ___________________________________

Nicole Rowlette

Assistant City Attorney