RESOLUTION NO. 961192

Authorizing submission of an amended 1996 Consolidated Plan adding the 18th Street East Industrial Park Project; desiring to borrow up to $1,700,000.00 for the 18th Street East Industrial Park Project through Title I, Section 108 of the Housing and Community Development Act; certifying the use of security required for said loan; and affirming use of program income.

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Mayor, on behalf of the City of Kansas City, Missouri, is hereby authorized to submit an amended 1996 Consolidated Plan adding one project to be known as the 18th Street East Industrial Park Project in an amount up to $1,700,000.00.

Section 2. That the City Council desires to borrow up to $1,700,000.00 for the 18th Street East Industrial Park Project through Title I, Section 108, of the Housing and Community Development Act of 1974, as amended.

Section 3. That the City Council hereby certifies that the pledge of all grant entitlements as required by 24 C.F.R. Section 570.705(b)(2) as a condition of the Section 108 Loan Guarantee will be given to secure repayment of said loan.

Section 4. That the City Council hereby affirms that program income derived from the disposition by sale or lease of any real property acquired or rehabilitated with the loan funds shall be used for repayment of said loan.

Section 5. That this resolution shall have no further force and effect after the expiration of two (2) years after adoption hereof unless otherwise extended by the Council.

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