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[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 230962
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Sponsor: Mayor Quinton Lucas
Accepting the recommendations of the Housing Trust Fund Advisory Board with modifications; authorizing the Director of the Housing and Community Development Department to execute various HTF Round III funding agreements and expend up to $9,840,999.00 from funds appropriated in the Housing Trust Fund; and requiring certain contract provisions.
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WHEREAS, on December 20, 2018, by Committee Substitute for Ordinance No. 180719, the City Council established the Housing Trust Fund to implement neighborhood revitalization, housing development, and preservation projects proposed by the City and in coordination with private developers that are undertaking projects in alignment with the City's Housing policy; and
WHEREAS, on June 20, 2019, by Committee Substitute for Resolution No. 190022, the City Council adopted the Five-Year Housing Policy, which set forth five bold ideas to include the creation/preservation of 5,000 additional single family and multifamily housing units by December 2023 and to establish a $75 million catalytic housing development (trust) fund to create and preserve units; and
WHEREAS, on May 27, 2021, by Ordinance No. 210392, the City Council adopted the City's stimulus spending plan "RecoverKC" in which the City Council allocated $12,500,000.00 to the Housing Trust Fund; and
WHEREAS, on November 4, 2021, by Committee Substitute for Ordinance 210873, As Amended, the City Council amended Section 2-1693, "Housing Trust Fund" and replaced it with a new Section 2-1693 for the purpose of establishing the Housing Trust Fund Board to review Housing Trust Fund applications, with reporting requirements, funding allocation direction and prioritization of fund use; and
WHEREAS, a special election was also duly held in the City on Tuesday, November 8, 2022 (the "2022 Election"), on the question of whether to issue g...
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