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Legislation #: 160100 Introduction Date: 2/4/2016
Type: Ordinance Effective Date: none
Sponsor: None
Title: 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.

Legislation History
DateMinutesDescription
2/5/2016 Filed by the Clerk's office
2/4/2016 Councilmember Lucas (Second by Reed) Move to Advance
2/4/2016 Passed

View Attachments
FileTypeSizeDescription
160100.pdf Authenticated 97K Authenticated
FN Faxton 2016.xls Fiscal Note 50K Fiscal Note
Faxon School Apartments Fact Sheet Add 220 500 1-21-16.xls Fact Sheet 65K Fact Sheet

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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