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[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 230828
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Sponsor: Councilmember Melissa Patterson-Hazley
Directing the City Manager to enter into a contract with Community Builders of Kansas City in the amount of $1,081,308.00 and consistent with Housing Trust Fund guidelines, for the purpose of completing renovations to Ivanhoe Gardens Apartments; appropriating $1,081,308.00 from the Unappropriated Fund Balance of the Shared Success Fund; authorizing reimbursement from the Housing Trust Fund into the Shared Success Fund; designating requisitioning authority; and recognizing this ordinance as having an accelerated effective date.
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WHEREAS, the City established the Shared Success Fund in the Second Committee Substitute for Ordinance No. 160383, As Amended, to fund qualified redevelopment projects in economically distressed areas of the City in need of benefits derived from economic development; and
WHEREAS Ordinance No. 160383 requires fund recipients to be located in a severely distressed census tract that has continually maintained such status for not less than ten (10) years immediately prior to the effective date of the request; and
WHEREAS, Community Builders of Kansas City (“CBKC”) desires to complete necessary renovations to the Ivanhoe Gardens Apartments within the City (the “Project”) in order to preserve affordable housing for its residents; and
WHEREAS, Ivanhoe Gardens Apartments is located within Qualified Census Tract No. 29095005500 (also known as 55.00), which has been designated as a qualified tract since at least 2009 by the federal Department of Housing and Urban Development; and
WHEREAS, Ivanhoe Gardens Apartments operates almost exclusively on funds provided by the Department of Housing and Urban Development and primarily houses Kansas Citians whose income falls at or below 50% of the area median family income (“AMFI”); and
WHEREAS, the Project serves a predominantly public municipal purpose because the completion of the Project promotes economic development in the area of the City where Ivanhoe Gardens is located and aligns with the City’s goals to promote, preserve, and create long-term affordable housing for very low-, low-, and moderate-income households; and
WHEREAS, the City Council desires to use the Shared Success Fund to expedite funding of the Project for the purposes of preserving affordable rental housing within the City and for the public purposes enumerated herein; and
WHEREAS, through the assistance of Shared Success Fund dollars, CBKC will have the necessary funding to complete the Project; and
WHEREAS, CBKC has applied for assistance from the Housing Trust Fund and desires to have the Shared Success Fund be reimbursed with any award from the Housing Trust Fund up to and including $1,081,308.00; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the City Manager is hereby directed to enter into a contract with Community Builders of Kansas City in amount not to exceed $1,081,308.00 and consistent with Housing Trust Fund guidelines, for the purpose of completing renovations to Ivanhoe Gardens Apartments and in compliance with all applicable City contract requirements.
Section 2. That the sum of $1,081,308.00 is hereby appropriated from the Unappropriated Balance of the Shared Success Fund to the following account:
24-2590-552100-B Multi-Family Housing $1,081,308.00
Section 3. That the Director of Housing and Community Development is hereby designated as requisitioning authority for Account No. 24-2590-552100.
Section 4. That, in the event that Community Builders of Kansas City receives funding from the Housing Trust Fund for renovations to the Ivanhoe Garden Apartments, the Housing Trust Fund will deposit the first $1,081,308.00 of said funds into the Shared Success Fund. Any award to Community Builders of Kansas City from the Housing Trust Fund in excess of $1,081,308 shall be transferred to Community Builders of Kansas City pursuant the Housing Trust Fund’s policies and procedures.
Section 5. That this ordinance is recognized as an ordinance with an accelerated effective date as provided by Section 503(a)(3)(C) of the City Charter in that it appropriates money, and shall take effect in accordance with that section.
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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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Tammy L. Queen
Director of Finance
Approved as to form:
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Samuel Miller
Assistant City Attorney