ORDINANCE NO. 260300
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Sponsor: City Manager's Office
Accepting the assignment and assumption agreement from the Maintenance Reserve Corporation; appropriating $404,221.07 from the Unappropriated Fund Balance of the Maintenance Reserve Corporation and estimating the same as revenue in the Housing Trust Fund; and closing on the books of the City Fund No. 6930, Maintenance Reserve Corporation Fund.
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WHEREAS, the Kansas City, Missouri Rehabilitation Maintenance Corporation was established as a general not-for-profit corporation within the State of Missouri in 1975 with the civic purpose of contracting with owners of residential property in Kansas City, Missouri, to perform maintenance on such property after rehabilitation to preserve the benefit of such rehabilitation for the community as a whole; and
WHEREAS, the name of the corporation was changed to the Maintenance Reserve Corporation (MRC) in 1977; and
WHEREAS, throughout its existence, the MRC has accomplished many things in pursuit of its mission, including assisting many Kansas City homeowners with urban revitalization efforts by providing low-interest loans for residential home and neighborhood improvements; and
WHEREAS, in 1994, the MRC received an Exemplary State and Local Award from the National Center for Public Productivity for having produced exceptional cost savings, measurable increases in quality and productivity, and improvements in the quality and effectiveness of government services; and
WHEREAS, in 2016, the MRC provided funding support to the Local Initiatives Support Coalition (LISC) to help them establish the KC Predevelopment Fund (formerly called the Catalytic Urban Predevelopment Fund) which has provided millions of dollars in low-interest financing in support of early-stage development costs for affordable housing projects in the greater Kansas City region; and
WHEREAS, in 2021, the MRC provided $300,000 in support to the Santa Fe Neig...
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