ORDINANCE NO. 120040,
AS AMENDED
Authorizing the Director of City
Development to execute an agreement not to exceed $1,479,751.00 with the
Economic Development Loan Corporation to administer the Kansas City Brownfields
Revolving Loan Fund Program, capitalized in part with funds made available by
the American Recovery and Reinvestment Act of 2009; and authorizing
expenditures of $1,479,751.00 from previously appropriated funds.
WHEREAS, the
City accepted a Brownfields Cleanup Revolving Loan Fund (“Brownfield RLF”)
grant in 2000 from the U.S. Environmental Protection Agency (“EPA”) in the
amount of $500,000.00 as authorized by Ordinance No. 001210; and
WHEREAS, the
City in 2007 accepted supplemental funding from the EPA in the amount of
$500,000.00 to increase capitalization of the Kansas City Brownfields Revolving
Loan Fund as authorized by Ordinance No. 070894; and
WHEREAS, the City
in 2010 accepted from the EPA additional Brownfield RLF supplemental funding in the amount of $600,000.00, and additional
Brownfield RLF supplemental funding from the American Recovery and
Revitalization Act (ARRA) in the amount of
$560,000.00, all as authorized by Ordinance No. 100138; and
WHEREAS, the
Brownfield RLF program is an important source of low-interest capital that can
be used to finance loans and subgrant funds for the cleanup of abandoned and
underutilized properties and to help create jobs and new economic opportunities
for economically distressed communities in Kansas City; NOW, THEREFORE,
BE IT ORDAINED
BY THE COUNCIL OF KANSAS CITY:
Section 1. That the Director of the Department of City
Development is hereby authorized to execute an agreement not to exceed $1,479,751.00
with the Economic Development Loan Corporation to administer the Kansas City
Brownfields Revolving Loan Fund Program. A
copy of the agreement, in substantial form, is attached hereto and is hereby
approved.
Section 2. That the Director
of the Department of City Development is authorized to expend up to the
sum of $1,479,751.00 from funds previously
appropriated to Account No. 12-2550-645020, 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