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[COMMMITTEE SUBSTITUTE TO ORIGINAL]RESOLUTION NO. 240924
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Sponsor: Councilmember Lindsay French
COMMITTEE SUBSTITUTE
RESOLUTION - Directing the City Manager to develop and present a Homeownership Assistance Program (“Program”) to Council for Kansas City residents within 180 days.
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WHEREAS, ensuring access to affordable housing is important for the continued growth and economic success of Kansas City; and
WHEREAS, homeownership helps residents achieve and maintain stability; and
WHEREAS, the City Council desires to increase homeownership in Kansas City; and
WHEREAS, Resolution 240277 directed the City Manager to develop establish an Employee Homeownership Assistance Program, which consists of a partial forgiveness loan for down payment and closing costs, combined with education, support and financing to make first-time homebuyer ownership of a single-family residence located within city limits sustainable and affordable for City employees; and
WHEREAS, the Employee Homeownership Assistance Program has been developed, with workshops beginning on November 4, 2024; and
WHEREAS, the Council would like to expand the Employee Homeownership Assistance Program city-wide after a certain amount of time had passed since the employee program's implementation; NOW, THEREFORE,
BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:
That the City Manager is directed to study and present a Homeownership Assistance Program for residents of Kansas City, Missouri to Council within 180 days, said Program to be an expansion of the Employee Homeownership Assistance Program The Program shall include:
• program and application specifics;
• budgetary costs for the implementation of the program;
• identify potential funding sources for necessary appropriations to support the program;
• peer city review;
• methods to accomplish goals to increase home ownership; and
• evaluation of target location options.
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