ORDINANCE NO. 110896
Authorizing the City Manager to
execute an agreement not to exceed $1,020,000.00 with Neighborhood Housing
Services to establish an interest rate buy down fund for the period from
December 1, 2011 through March 31, 2013, with funds made available by the American
Recovery and Reinvestment Act of 2009 (ARRA) and the U.S. Department of
Energy’s Energy Efficiency and Conservation Block Grant - Better Buildings
Program providing funds for the EnergyWorks KC (EWCKC) initiative.
WHEREAS, the
City was one of 25 entities nationwide selected by the U.S. Department of
Energy (“DOE”) to be a recipient of an Energy Efficiency and Conservation Block
Grant - Better Buildings grant (the “Grant”); and
WHEREAS, the
City has negotiated a scope of work with Neighborhood Housing Services (“NHS”)
consistent with the Grant award; and
WHEREAS, this
agreement with Neighborhood Housing Services will support the goal of the
EnergyWorks KC goals by providing a fund for buying down interest rates in the
targeted neighborhood areas and citywide; and
WHEREAS, this
initiative will allow NHS to provide a means to reduce, for a period of time,
the interest rates of loans from lenders for energy efficiency improvements to
homes and businesses; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF
KANSAS CITY:
Section 1. That
the City Manager, or his designee, is hereby authorized to execute an agreement
with Neighborhood Housing Services, for an amount not to exceed $1,020,000.00
to support the EnergyWorks KC initiative goals by providing a fund for buying
down interest rates in the targeted neighborhood areas and citywide. A copy of
the agreement, in substantial form, is on file with the City Manager’s Office
of Environmental Quality.
Section 2. That
the City Manager is authorized to expend up to the sum of $1,020,000.00 from
funds previously appropriated to Account No. 12-2530-105056-B, to satisfy the
cost of this agreement.
_____________________________________________
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:
___________________________________
Matthew
Gigliotti
Assistant City Attorney