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Legislation #: 110319 Introduction Date: 4/21/2011
Type: Ordinance Effective Date: 5/8/2011
Sponsor: COUNCILMEMBER SANDERS BROOK
Title: Accepting $2,300,000.00 in HOME program income funds from the Housing Economic Development Finance Corporation (HEDFC) federal receivership; accepting $810,778.00 in Missouri State Historic Tax credit income funds from the Missouri Department of Economic Development; accepting $729,554.00 in Federal Historic Tax credit income funds from the U.S. National Park Service; estimating and appropriating funds in the amount of $2,300,000.00 in the HOME Investment Fund; estimating and appropriating funds in the amount of $1,540,332.00 in the HOME Special Projects Fund; authorizing the Director of Housing and Community Development, the City Manager or his designee to enter into a contract, financing agreement and loan documents in the amount of $3,840,332.00 with Jazz District Redevelopment Corporation (JDRC) for the construction of the Highland Place Apartment project; amending the 2011 One Year Action Plan and authorizing submission of a Substantial Amendment to the U.S. Department of Housing and Urban Development in order to include this additional project; and designating requisitioning authority.

Legislation History
DateMinutesDescription
4/21/2011 Filed by the Clerk's office
4/21/2011 Referred to Housing Committee
4/27/2011 Advance and Do Pass as a Committee Substitute, Debate
4/28/2011 Passed as Substituted

View Attachments
FileTypeSizeDescription
110319.pdf Authenticated 83K AUTHENTICATED
Other 0K sent to fin. for signature
fact sheet.xlsx Advertise Notice 61K fact sheet
fiscal note.xlsx Advertise Notice 28K fiscal note

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 110319

 

Accepting $2,300,000.00 in HOME program income funds from the Housing Economic Development Finance Corporation (HEDFC) federal receivership; accepting $810,778.00 in Missouri State Historic Tax credit income funds from the Missouri Department of Economic Development; accepting $729,554.00 in Federal Historic Tax credit income funds from the U.S. National Park Service; estimating and appropriating funds in the amount of $2,300,000.00 in the HOME Investment Fund; estimating and appropriating funds in the amount of $1,540,332.00 in the HOME Special Projects Fund; authorizing the Director of Housing and Community Development, the City Manager or his designee to enter into a contract, financing agreement and loan documents in the amount of $3,840,332.00 with Jazz District Redevelopment Corporation (JDRC) for the construction of the Highland Place Apartment project; amending the 2011 One Year Action Plan and authorizing submission of a Substantial Amendment to the U.S. Department of Housing and Urban Development in order to include this additional project; and designating requisitioning authority.

 

WHEREAS, the Highland Place Apartment Project (“Project”) is a redevelopment project in the Historic 18th and Vine Jazz District which consists of the rehabilitation and conversion of the Rochester Hotel, located at 1821 Highland, and six residential homes, located at 1816-26 Highland, into 22 multi-family rental units to be leased to low-income Kansas City, Missouri residents; and

 

WHEREAS, the predevelopment activities of the Project have been completed, including but not limited to environmental studies, architectural renderings, and engineering structural analysis, and the Project is prepared for rehabilitation construction to begin; and

 

WHEREAS, the Project will rehabilitate and save seven (7) historic structures in the Jazz District, all constructed in the late 1800s to early 1900s, which will help to maintain the District’s historic designation; and

 

WHEREAS, the City has established the renovation and preservation of the residential units and the related historic elements of the Highland Place as a priority; and

 

WHEREAS, the City has an obligation with the United States Department of Housing and Urban Development to complete the Highland Place project; and

 

WHEREAS, the City created and the Council approved, through Committee Substitute for Resolution No. 100903, the ReBuild KC/Neighborhoods asset transfer plan, which included the recommendation to complete Highland Place project with proceeds coming from HEDFC’s HOME program income account; and

 

WHEREAS, the transfer of the funds from HEDFC is subject to the approval of the U.S. District Court for the Western District of Missouri in Case No. 05-00368-CV-W-GAF; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of the Housing and Community Development Department is hereby authorized to accept, subject to approval by the U.S. District Court for the Western District of Missouri in Case No. 05-00368-CV-W-GAF, $2,300,000.00 in HOME program income from the Housing and Economic Development Financial Corporation (HEDFC) for the purpose of the rehabilitation and development of the Highland Place Apartments Project.

 

Section 2. That the Director of the Housing and Community Development Department is hereby authorized to accept $810,778.00 in Missouri State Historic Tax credit income funds from the Missouri Department of Economic Development and $729,554.00 in Federal Historic Tax credit income funds from the U.S. National Park Service.

 

Section 3. That the Director of the Housing and Community Development Department, the City Manager or his designee are authorized to enter into a contract, financing agreement and loan documents with Jazz District Redevelopment Corporation in the amount of $3,840,332.00 for funding assistance for the development of the Highland Place Project. A copy of the contract, in substantial form, is on file in the office of the Director of Housing and Community Development.

 

Section 4. That the revenue in the following accounts of the Home Investment Fund and the HOME Special Projects Fund is estimated in the following amounts:

 

12-2940-550001-474630 Federal Grant Revenues $2,300,000.00

12-2950-550000-480441 Sale of Tax Credits 1,540,332.00

TOTAL $3,840,332.00

 

Section 5. That the appropriation in the following accounts of the Home Investment and the HOME Special Projects Fund is increased by the following amounts:

 

12-2940-555317-B Housing Development $2,300,000.00

12-2950-552095-B 18th and Vine 1,540,332.00

TOTAL $3,840,332.00

Section 6. That the Substantial Amendment to the 2011 Action Plan a copy of which, in substantial form, is on file in the Housing and Community Development Department and is incorporated herein by reference, is hereby approved.

Section 7. That the Mayor, on behalf of the City of Kansas City, Missouri, is hereby authorized to execute and submit the aforesaid Substantial Amendment to the United States Department of Housing and Urban Development.

Section 8. That the City Council hereby certifies that said Substantial Amendment has been prepared pursuant to and in accordance with the Department’s rules and regulations, including but not limited to Title 24 Section 570.301 through and including 570.306 of the Code of Federal Regulations.

Section 9. That the Director of Housing and Community Development is designated as requisitioning authority for Account Nos. 12-2940-555317 and 12-2950-552095.

 

_____________________________________________

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