ORDINANCE NO. 160100
Authorizing the Director of
Neighborhoods and Housing Services to execute a $220,500.00 contract amendment,
financing agreement and loan documents with Faxon School Apartments, LLC;
amending the 2015 One Year Action Plan(s) and authorizing submittal of a
Substantial Amendment to the U.S. Department of Housing and Urban Development
for its consideration; and designating requisitioning authority.
WHEREAS, Faxon
School Apartments (“Project”) is located at 3710 Paseo Boulevard and includes
the conversion of the former school into 46 units of affordable senior housing;
and
WHEREAS, on August 21, 2014, through Second Committee Substitute for
Resolution No. 140073, the Council approved a $500,000.00 development contract,
financing agreement and loan documents in support of the Project; and
WHEREAS, on December 11, 2014, through Ordinance No. 141024, the Council
approved $266,026.00 in HOME funding be used to replace Brownfields funding for
remediation of environmental issues; and
WHEREAS, the Project requires additional financing to cover unforeseen
rehabilitation, legal and financing costs associated with the Project; NOW,
THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF
KANSAS CITY:
Section 1. That the Director of Neighborhoods and Housing Services is
hereby authorized to execute a $220,500.00 contract amendment, financing
agreement and loan documents with Faxon School Apartments, LLC
for unforeseen site, legal and financing costs associated with converting the
Faxon School into forty-six (46) affordable one and two bedroom senior
apartment units from funds allocated in Account No. 16-2940-575311-B-G57HOME15.
A copy of the development contract amendment, in substantial form, is on file
in the office of the Director of Neighborhoods and Housing Services and is
incorporated herein by reference.
Section 2. That the Substantial Amendment to the
2015 One Year Action Plan prepared pursuant to the National Affordable Housing
Act of 1990, as amended, a copy of which in substantial form is attached hereto
and made a part hereof, is hereby approved.
Section
3. That the Mayor, on behalf of the City of Kansas City, Missouri, is
authorized to execute and submit the aforesaid Substantial Amendment to HUD.
Section 4. That
the Director of Neighborhoods and Housing Services is designated as
requisitioning authority for Account No. 16-2940-575311.
________________________________________________
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:
____________________________________
Nicole Rowlette
Assistant City
Attorney