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Legislation #: 170433 Introduction Date: 6/8/2017
Type: Ordinance Effective Date: none
Sponsor: None
Title: Estimating revenue and appropriating $1,117,642.00 in the HOME Investment Fund; authorizing the Director of Neighborhoods and Housing Services to execute contracts, financing agreements, and loan documents from the HOME Investment Fund with various entities for construction of affordable multi-family and single-family housing units; and recognizing this ordinance as having an accelerated effective date.

Legislation History
DateMinutesDescription
6/8/2017 Filed by the Clerk's office
6/8/2017 Referred to Planning, Zoning & Economic Development Committee
6/14/2017 Advance and Do Pass, Debate
6/15/2017 Passed

View Attachments
FileTypeSizeDescription
170433.pdf Authenticated 88K Authenticated
170433 Admin Approp.pdf Other 33K Admin Approp
170433 Fiscal Note.pdf Fiscal Note 15K Fiscal Note
170433 Fact Sheet.pdf Fact Sheet 197K Fact Sheet

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ORDINANCE NO. 170433

 

Estimating revenue and appropriating $1,117,642.00 in the HOME Investment Fund; authorizing the Director of Neighborhoods and Housing Services to execute contracts, financing agreements, and loan documents from the HOME Investment Fund with various entities for construction of affordable multi-family and single-family housing units; and recognizing this ordinance as having an accelerated effective date.

 

WHEREAS, on March 7, 2016, through Resolution No. 160042, the Council approved the 2016 One-Year Action Plan which included Home Investments Partnerships Program (HOME) funds for housing development in targeted areas; and

WHEREAS, Pendleton ArtsBlock, a Choice Neighborhoods Project, was awarded 2017 State and Federal 9% low income housing tax credits through the Missouri Housing Development Commission for new construction of 38 units of affordable housing located at 2300 Independence Boulevard and City HOME funds are necessary in order for the project to move forward; and

WHEREAS, Century Apartments, a Choice Neighborhoods Project, was awarded 2017 State and Federal 4% low income housing tax credits through the Missouri Housing Development Commission for new construction of 22 units of affordable housing located at 804 Woodland Avenue and City HOME funds are necessary in order for the project to move forward; and

 

WHEREAS, the City continues to support infill new construction of homeowner units in the Monarch Manor Subdivision and the Ivanhoe Gateway at 39th Street Phase II Project and City HOME funds are necessary in order for three new, single family homes and three duplex structures to move forward; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That revenue in the following account of the HOME Investment Fund is hereby estimated in the following amount:

 

18-2940-570001-476050-G57HOME16 HUD Grants $1,117,642.00

 

Section 2. That $1,117,642.00 is appropriated from the Unappropriated Fund Balance of the HOME Investment Fund to the following account in the HOME Investment Fund:

 

18-2940-575326-B-G57HOME16 Housing Services $1,117,642.00

 


Section 3. That the Director of Neighborhoods and Housing Services is hereby authorized to execute the following contracts from funds in Account No. 18-2940-575326-B:

·         $300,000.00 contract, financing agreement and loan documents with Pendleton ArtsBlock, LLC;

 

·         $300,000.00 contract, financing agreement and loan documents with Century Apartments, LLC;

 

·         $300,000.00 in support of contracts, financing agreements, and loan documents with Four Star Construction, LLC for the construction of single family homes in Monarch Manor; and

 

·         $217,642.00 amendment to Contract No. 2016-0034 to provide additional construction financing to Ivanhoe Neighborhood Council.

 

A copy of the contracts, in substantial form, are on file in the office of the Director of Neighborhoods and Housing Services and are incorporated herein by reference.

Section 4. That this ordinance is recognized as having an accelerated effective date within the provisions of Section 503 of the City Charter in that it appropriates money and shall take effect in accordance with that section.

 

__________________________________________________

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