RESOLUTION NO. 960890

Directing the City Manager to identify funds in an additional amount of $350,000.00 for the Parker Square Apartment Project, generally bounded by Paseo Boulevard to Woodland Avenue, 9th Street to 12th Street, and to report to Council.

WHEREAS, pursuant to the Multi-Family Housing Contract with the Housing Development Corporation and Information Center, the Director of the Department of Housing and Community Development issued, on January 30, 1996, a reservation of funds to the Parker Square Apartment Project in the amount of $403,850.00; and

WHEREAS, the Parker Square Apartment Project, generally bounded by Paseo Boulevard to Woodland Avenue, 9th Street to 12th Street, includes the rehabilitation of 204 units of housing at a minimum cost of $3,965,720.00; and

WHEREAS, the Council, through the passage of Ordinance No. 960568, As Amended, passed on May 30, 1996, amended the Multi-Family Housing Contract with HDCIC by adding additional funds in the amount of $1,250,000.00 for multi-family housing projects; and

WHEREAS, there is a need for additional funds in the amount of $350,000.00 to complete the rehabilitation of the Parker Square Apartments; and

WHEREAS, the Council desires that the City Manager identify said funds in which to complete the Project; NOW, THEREFORE,

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

That the City Manager is hereby directed to identify funds in the additional amount of $350,000.00 for the completion of the rehabilitation of the Parker Square Apartments, generally bounded by Paseo Boulevard to Woodland Avenue, 9th Street to 12th Street, and to report to Council within 30 days from the date of the adoption of this Resolution.

__________________________________________________________________