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Legislation #: 970749 Introduction Date: 5/22/1997
Type: Ordinance Effective Date: 6/8/1997
Sponsor: COUNCILMEMBER BACCHUS
Title: Authorizing execution of a $412,500.00 Cooperative Agreement with the Housing Development Corporation and Information Center, Inc., and the Rehabilitation Loan Corporation for administration costs and support services; authorizing execution of a contract amendment with HDCIC, increasing the total by $620,000.00 for a new total of $22,683,589.00 for the Multi-Family Housing Loan Program; authorizing a contract amendment with HDCIC, increasing the total by $200,000.00 for a new total of $2,218,000.00, for funds for property acquisition; authorizing a contract amendment with HDCIC, increasing the total by $2,800,000.00 for a new total of $13,538,000.00, for the Single Family New Construction Loan Program; and authorizing execution of a $2,545,875.00 contract with RLC for the 1997 HOME Investment Partnership Program, the Rehabilitation Loan Program and the HOPE 3 Program.

Legislation History
DateMinutesDescription
5/22/1997

Referred Planning, Zoning & Economic Development Committee

5/28/1997

Advance and Do Pass

5/29/1997

Passed


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ORDINANCE NO. 970749

 

Authorizing execution of a $412,500.00 Cooperative Agreement with the Housing Development Corporation and Information Center, Inc., and the Rehabilitation Loan Corporation for administration costs and support services; authorizing execution of a contract amendment with HDCIC, increasing the total by $620,000.00 for a new total of $22,683,589.00 for the Multi-Family Housing Loan Program; authorizing a contract amendment with HDCIC, increasing the total by $200,000.00 for a new total of $2,218,000.00, for funds for property acquisition; authorizing a contract amendment with HDCIC, increasing the total by $2,800,000.00 for a new total of $13,538,000.00, for the Single Family New Construction Loan Program; and authorizing execution of a $2,545,875.00 contract with RLC for the 1997 HOME Investment Partnership Program, the Rehabilitation Loan Program and the HOPE 3 Program.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of the Department of Housing and Community Development is hereby authorized to execute a Cooperative Agreement with the Housing Development Corporation and Information Center, Inc., and the Rehabilitation Loan Corporation, in the amount of $412,500.00, for the purpose of providing funds for administrative costs and support services for the period of time beginning June 1, 1997 until August 31, 1997, for the multi-family housing and single-family new housing programs and the Rehabilitation Loan, HOME and HOPE 3 Programs; $162,500.00 of which is to be paid from funds previously appropriated to Account No. 98-266-055-2140-B, HDCIC Administration, and $250,000.00 of which is authorized to be expended from loan repayment funds from the Rehabilitation Loan Program. A copy of said Cooperative Agreement, in substantial form, is attached hereto and is hereby approved.

 

Section 2. That the Director of the Department of Housing and Community Development is hereby authorized to execute a contract amendment with the Housing Development Corporation and Information Center, Inc., increasing the contract amount by $620,000.00 for a total contract amount of $22,683,589.00, for the purpose of providing funds for loans to be made for the Multi-Family Housing Loan Program to be paid from funds previously appropriated to Account No. 98-294-055-2136-B, Home Ownership - 98. A copy of said contract, in substantial form, is attached hereto and is hereby approved.

 

Section 3. That the Director of the Department of Housing and Community Development is hereby authorized to execute a contract amendment with the Housing Development Corporation and Information Center, Inc., increasing the contract amount by $200,000.00 for a total contract amount of $2,218,000.00, for the purpose of providing funds for property acquisition for new housing construction and economic development projects to be paid from funds previously appropriated to Account No. 98-266-055-2186-B, Home Ownership Property Acquisition. A copy of said contract, in substantial form, is attached hereto and is hereby approved.

 

Section 4. That the Director of the Department of Housing and Community Development is hereby authorized to execute a contract amendment with the Housing Development Corporation and Information Center, Inc., increasing the contract amount by $2,800,000.00 for a total contract amount of $13,538,000.00, for the purpose of providing funds for the Single-Family Housing New Construction Loan Program to be paid from funds previously appropriated to Account No. 98-266-055-2185-B, Home Ownership Development. A copy of said contract, in substantial form, is attached hereto and is hereby approved.

 

Section 5. That the Director of the Department of Housing and Community Development is hereby authorized to execute a contract with the Rehabilitation Loan Corporation, in the amount of $2,545,875.00, for the purpose of implementation of the 1997 HOME Investment Partnership Program and continuation of the Rehabilitation and HOPE 3 Loan Programs for the period of time beginning June 1, 1997, until August 31, 1997, to be paid from funds previously appropriated to Account No. 98-294-055-2136-B, Home Ownership - 98 ($1,345,875.00) and to be paid from expenditure of $500,000.00 of loan repayments from the Rehabilitation Loan Program, expenditure of $500,000.00 of loan repayments from the Home Ownership Program, and expenditure of $200,000.00 of loan repayments from the HOPE 3 Program. A copy of said contract, in substantial form, is attached hereto and is hereby approved.

 

_____________________________________________

 

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.

 

 

___________________________________

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Assistant City Attorney