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Legislation #: 011766 Introduction Date: 12/20/2001
Type: Resolution Effective Date: 1/10/2002
Sponsor: COUNCILMEMBER RILEY
Title: Reaffirming the CouncilĀ“s intent to provide community development block grant funding necessary to fund a $1,400,000.00 development loan to Community Builders of Kansas City for Phase III of the Mt. Cleveland Commercial Initiative Project and to include such funding in the 2002 Consolidated Housing and Community Development Plan.

Legislation History
DateMinutesDescription
12/20/2001

Prepare to Introduce

12/20/2001

Referred Housing & Community Development Committee

1/8/2002

Immediate Adoption

1/8/2002

Immediate Adoption

1/10/2002

Adopted


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RESOLUTION NO. 011766

 

Reaffirming the Councils intent to provide community development block grant funding necessary to fund a $1,400,000.00 development loan to Community Builders of Kansas City for Phase III of the Mt. Cleveland Commercial Initiative Project and to include such funding in the 2002 Consolidated Housing and Community Development Plan.

 

WHEREAS, on August 6, 1998, the City Council adopted Committee Substitute for Resolution No. 980953, authorizing the submission of an amended 1998 Consolidated Housing and Community Development Plan which added the Mt. Cleveland Commercial Initiative Project in the amount of $3,900,000.00 and stated the Councils desire to borrow $3,900,000.00 through Title I, Section 108, of the Housing and Community Development Act of 1974, as amended; and

 

WHEREAS, on February 22, 1999, the City Council adopted Resolution No. 990196 which clarified the Councils intent to authorize the submission of Section 108 applications for the Mt. Cleveland Commercial Initiative Project in three phases and two applications, the first being an application for Phase I of the Mt. Cleveland Commercial Initiative Project - the H&R Block Office/Computer Technology Center - in the amount of $2,500,000.00, and the second being an application for Phases II and III of the Mt. Cleveland Commercial Initiative Project - a commercial office building facility and two retail sites (Phase II) and a grocery store/retail center (Phase III), in the amount of $1,400,000.00; and

 

WHEREAS, after review by the Director of the Department of Housing and Community Development, it was determined more economically feasible to provide community development block grant funding on an annual basis for Phase I of the Mt. Cleveland Commercial Initiative Project rather than submitting Section 108 loan applications to the U.S. Department of Housing and Urban Development; and

 

WHEREAS, on May 24, 2001, the City Council approved Ordinance No. 010780 authorizing execution of a contract between the City and Midtown Community Development Corporation, d/b/a Community Builders of Kansas City for $234,000.00 to provide for the first annual principal and interest payment for the debt repayment which was financed by a private, local bank for Phase I of the Mt. Cleveland Commercial Initiative Project and named Community Builders of Kansas City as a community-based development organization and eligible to use Community Development Block Grant funds to carry out community economic development activities in a HUD designated Neighborhood Revitalization Strategy Area; and

 

WHEREAS, Community Builders of Kansas City has initiated construction activities on Phase II of the Mt. Cleveland Commercial Initiative Project - a commercial office building located on Blue Parkway and Jackson, with a total development cost of $10,560,000.00; NOW, THEREFORE,

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

 


Section 1. That the Council hereby reaffirms its intent expressed in Resolution No. 990196 to provide community development block grant funding necessary to fund a $1,400,000.00 development loan to Midtown Community Development Corporation d/b/a Community Builders for Phase III of the Mt. Cleveland Commercial Initiative Project; provided that the Council states its intent to provide community development block grant funding on an annual basis rather than submitting an application for a Section 108 loan for Phase III.

 

Section 2. That the Council states its intent to include community development block grant funding in the 2002 Consolidated Housing and Community Development Plan for principal and interest payments for Phase III as necessary to reimburse principal and interest payments for its debt repayment upon recommendation by the Director of the Department of Housing and Community Development.

 

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