ORDINANCE NO. 920508

Authorizing a $1,000,000.00 contract amendment with the Rehabilitation Loan Corporation to provide funds for rehabilitation loans to be made under the Single Family Housing Rehabilitation Loan Program; and authorizing a $722,000.00 contract with the Rehabilitation Loan Corporation for administrative costs of the Rehabilitation Loan Program and Maintenance Reserve Program during CDBG Year 18.

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Director of Housing and Community Development is hereby authorized to enter into a contract amendment with the Rehabilitation Loan Corporation increasing the contract amount by $1,000,000.00 to a new total of $23,075,414.00 for the purpose of providing funds for rehabilitation loans to be made under the Single Family Housing Rehabilitation Loan Program to be paid from funds previously appropriated to Account No. 261-055-2130-B, Rehab Financial Assistance. A copy of the contract amendment, in substantial form, is attached hereto and is hereby approved.

Section 2. That the Director of Housing and Community Development is hereby authorized to enter into a contract with the Rehabilitation Loan Corporation to authorize the expenditure of $722,000.00 of loan repayment funds for administrative costs of the Rehabilitation Loan Program and the Maintenance Reserve Program during CDBG Year 18. A copy of the contract, in substantial form, is attached hereto and is hereby approved.

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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.

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Director of Finance

Approved as to form and legality:

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Assistant City Attorney