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Legislation #: 050600 Introduction Date: 5/19/2005
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBERS XBARNES, GLOVER AND NASH
Title: Authorizing execution of a $228,000.00 contract with the Neighborhood Housing Services for the administration, management, and servicing of a loan portfolio consisting of 1,600 single and multi-family loans made from the Community Development Block Grant, HOME, Section 108 and HOPE III programs.

Legislation History
DateMinutesDescription
5/19/2005 Filed by the Clerk's office
5/19/2005 Referred to Neighborhood Development and Housing Committee
5/25/2005 Advance and Do Pass, Debate
5/26/2005 Passed

View Attachments
FileTypeSizeDescription
050600.pdf Authenticated 89K Authenticated
contractnhs.pdf Contracts 1005K draft contract
DWilliams fact sheet 5.doc Fact Sheet 49K Fact Sheet
Dee Williams.pdf Fact Sheet 104K Fact Sheet

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ORDINANCE NO. 050600

 

Authorizing execution of a $228,000.00 contract with the Neighborhood Housing Services for the administration, management, and servicing of a loan portfolio consisting of 1,600 single and multi-family loans made from the Community Development Block Grant, HOME, Section 108 and HOPE III programs.

 

WHEREAS, Neighborhood Housing Services (NHS) is the Citys designated loan servicing agent for the collection of loan repayments funded by Community Development Block Grant funds (CDBG), HOME Investment Partnership Act funds (HOME), Section 108 and HOPE III loan proceeds; and

 

WHEREAS, the collection and distribution of these funds is for the benefit of moderate, low and very low income persons and for the removal of slums and blight, in accordance with the OMB and federal regulations in reference to the U.S. Department of Housing and Urban Development (HUD); and

 

WHEREAS, it is the Citys desire to ensure the efficient collection of all loans made through the use of federal dollars and to promote the timely reuse of those dollars through programming of the Citys yearly Consolidated Housing and Community Development Plan; and

 

WHEREAS, the contract will authorize NHS to implement a loan servicing system to collect loan repayments and to deposit those repayments in a designated City account; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of City Development Department is hereby authorized to execute a contract with Neighborhood Housing Services in the amount of $228,000.00, for the purpose of the administration, management, and servicing of a loan portfolio consisting of 1,600 single and multi-family loans made from the Community Development Block Grant, HOME, Section 108 and HOPE III programs from funds herein appropriated to Account No. 06-2660-642151. A copy of the contract, in substantial form, is filed with the Director of City Development Department.

 

Section 2. That the appropriation in the following account of the 2005 Community Development Block Grant Fund, No. 2660, is hereby reduced by the following amount:

 

06-2660-642356-B

Housing Planning Project

$228,000.00

 


Section 3. That $228,000.00 is hereby appropriated from the Unappropriated Fund Balance of the 2005 Community Development Block Grant Fund, No. 2660, to the following account:

 

06-2660-642151-B

Neighborhood Housing Services

$228,000.00

 

Section 4. That the Director of City Development is recognized as requisitioning authority for Account. No. 06-2660-642151.

 

_____________________________________________

 

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