RESOLUTION NO. 980712

Stating the intent of the Council to provide additional funding for completion of the Parkgate Apartment and Townhouses housing development in the Citys 1999 Consolidated Housing and Community Development Plan.

WHEREAS, Parkgate Apartments and Townhouses housing development, a housing project for residents located at 3601 East Meyer Boulevard in Kansas City, Missouri, is expected to be developed a 104 unit rehabilitated residential complex with an expected completion date of no later than December 31, 1998, and by way of a development plan whose sponsor is the East Meyer Community Association and the owner is Parkgate Ltd. Partners; and

WHEREAS, the development plan for Parkgate Apartment and Townhouses housing development is expected to provide safe, sanitary and affordable housing for low to moderate income residents of the City; and

WHEREAS, the total estimated project costs of $6,782,980.00 is required to successfully complete the development plan and the success of the plan depends upon obtaining City funding of no more than $1,063,980.00; NOW, THEREFORE,

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Council hereby states its intent to include in the Citys 1999 Consolidated Housing and Community Development Plan additional funds not to exceed the amount of $492,000.00, in addition to the $571,980.00 of the Citys HOME and CDBG funds already committed, in order to complete the Parkgate Apartment and Townhouses housing development.

_____________________________________________________