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Legislation #: 090226 Introduction Date: 3/19/2009
Type: Resolution Effective Date: 4/5/2009
Sponsor: None
Title: Authorizing the Acting Director of Housing and Community Development to increase the maximum development subsidy limits for housing developments from $40,000.00 per unit to $50,000.00 per unit.

Legislation History
DateMinutesDescription
3/17/2009 Filed by the Clerk's office
3/19/2009 Referred to Housing Committee
3/25/2009 Immediate Adoption
3/26/2009 Adopted

View Attachments
FileTypeSizeDescription
090226.pdf Authenticated 51K authenticated
fact sheet.XLS Advertise Notice 103K fact sheet

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RESOLUTION NO. 090226

 

Authorizing the Acting Director of Housing and Community Development to increase the maximum development subsidy limits for housing developments from $40,000.00 per unit to $50,000.00 per unit.

 

WHEREAS, on January 18, 2007, the City Council passed Ordinance No. 070062 adopting the recommendations contained in the December 2006 Housing Policy and Oversight Committee; and

 

WHEREAS, recommendation No. 5 of Ordinance No. 070062 established that the Council shall annually set a maximum per unit subsidy cap and shall be informed when any cap is exceeded; and

 

WHEREAS, the 2007-11 Five Year Consolidated Plan approved the maximum per unit subsidy for developers at $40,000.00 per unit; and

 

WHEREAS, due to increasing costs of development it is necessary to increase the development subsidy limits to $50,000.00 per unit; and

 

WHEREAS, the subsidy provides funding for the community development corporations and other developers for the creation of affordable housing; NOW, THEREFORE,

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Acting Director of Housing and Community Development is hereby authorized to increase the development subsidy limits to the community development corporations and other developers from $40,000.00 to $50,000.00.

 

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