ORDINANCE NO. 041103
Authorizing execution of a
$3,588,294.00 contract with the Housing and Economic Development Financial
Corporation for funds for homeownership assistance, multi-family housing,
development assistance and operating and loan management services from October
1, 2004 through April 30, 2005.
BE IT ORDAINED BY
THE COUNCIL OF KANSAS CITY:
Section 1. That
the Budget Officer of the Office of Management and Budget is hereby authorized
to execute a contract with the Housing and Economic Development Financial
Corporation, in the amount of $3,588,294.00, for the purpose of providing funds
for homeownership assistance, multi-family housing, development assistance, and
operating and loan management services as follows:
A) 2004
Community Development Block Grant Program funds: Property Acquisition and
Maintenance Program, $76,752.00, to be paid from funds previously appropriated
to Account No. 2650-552015-B; Multi-family Housing Program, $390,000.00, to be
paid from funds previously appropriated to Account No. 2650-55102-B; Mooneys
Villa Housing, $140,000.00, to be paid from funds previously appropriated to
Account No. 2650-552103-B; Homeownership Program in Strategy Areas,
$80,000.00, to be paid from funds previously appropriated to Account No.
2650-552144-B; Housing Predevelopment Assistance, $200,000.00, to be paid from
funds previously appropriated to Account No. 2650-552145-B; and returning CDBG
program income to the City from HEDFC in the amount of $587,000.00 for funding
the Minor Home Repair Program;
B) 2004
HOME Investment Partnership Program funds for: Singe-family HOMEownership
Assistance Program, $711,446.00, to be paid from funds previously appropriated
to Account No. 2650-552146-B; KC-American Dream Downpayment Assistance Program,
$388,427.00, to be paid from funds previously appropriated to Account Nos.
2650-552148-B; Ivanhoe Housing Development, $380,000.00, to be paid from funds
previously appropriated to Account No. 2650-552147-B; Multi-family Housing
Development in the Downtown Area, $576,669.00, to be paid from funds previously
appropriated to Account No. 2650-52102-B;
C) Miscellaneous
City Program Income funds: 5300 Woodland Homeownership Assistance, $50,000.00,
to be paid from funds previously appropriated to Account Nos. 2650-552144-B,
and authorizing expenditure of $2,996,666.00 of loan repayments from the
Rehabilitation Loan Program, the and the Second Mortgage Loan Program,
Multi-family Loan Program and HOME Investment Partnership Program and other
program income received. A copy of the contract, in substantial form, is filed
with the Office of the City Manager.
_____________________________________________
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.
___________________________________
Wanda
Gunter
Acting
Director of Finance
Approved
as to form and legality:
______________________________
Nicole
Rowlette
Assistant
City Attorney