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[COMMITTEE SUBSTITUTE FOR ]ORDINANCE NO. 250473
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Sponsor: Director of City Planning and Development Department
COMMITTEE SUBSTITUTE
Estimating revenue from program income generated by the Kansas City Brownfields Revolving Loan Fund (RLF) program in the amount of $1,560,942.85; appropriating funds in the same amount; designating requisitioning authority; and recognizing this ordinance as having an accelerated effective date.
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WHEREAS, a Brownfields Revolving Loan Fund (RLF) program has been established by the City of Kansas City, Missouri (the "City"), with funds awarded in various Brownfield RLF grants by the U.S. Environmental Protection Agency (EPA); and
WHEREAS, certain program income generated by the RLF in the form of loan repayments, credits, refunds, and accrued interest has been received and collected in cash-restricted, interest bearing accounts, in accordance with federal grant management regulations (Program Income); and
WHEREAS, such Program Income is intended to support the Brownfields program and redevelopment projects that seek brownfield assistance to the extent permitted by the applicable federal regulations and the terms and conditions of the relevant EPA federal cooperative agreements; and
WHEREAS, on December 19, 2024, the City Council adopted Ordinance No. 241051 approving a loan to Historic Northeast Lofts LLC (HNEL) for the cleanup of Buildings No. 1 & 2 in the amount of $7,575,000.00; and
WHEREAS, on January 30, 2025, the Brownfields Commission adopted Resolution 001-2025 recommending to the City Council approval of the application of FC Parade Park LLC for an RLF Loan for the cleanup of the Parade Park Homes redevelopment site in the amount of $2,260,150.00; and
WHEREAS, on February 28, 2025, the Brownfields Commission adopted Resolution 002-2025 recommending to the City Council approval of the application of Urban Catalyst, Inc. for an R...
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