ORDINANCE NO. 260975
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Sponsor(s): Councilmembers Crispin Rea, Melissa Patterson Hazley, and Mayor Quinton Lucas
Authorizing the City Manager to negotiate and execute a cooperative agreement with Belleview Townhomes, LLC, and its lending partner Lead Bank to assist in the completion of the 29 Belle Townhome Project located at 2909 Belleview Avenue; appropriating $130,000.00 from the Shared Success Fund for the purpose of the cooperative agreement; waiving the contract solicitation and Article IV, Chapter 3, requirements otherwise set out in the Code of Ordinances as to the agreement authorized in this Ordinance; directing the City Manager to explore implementation of a public solicitation process if a new developer is necessary; and recognizing this ordinance as having an accelerated effective date.
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WHEREAS, Belleview Townhomes, LLC (the “Developer”), an affiliate of the Hispanic Economic Development Corporation, is developing the 29 Belle Townhome Project, an affordable housing development project at 2909 Belleview Avenue, creating nine new affordable townhomes for eligible homebuyers (the “Project”); and
WHEREAS, the Developer has identified a need for additional funding for the Project; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the City Manager is hereby authorized to negotiate and execute a cooperative agreement with Belleview Townhomes, LLC and Lead Bank to provide City assistance in an amount not to exceed $130,000.00 toward completion of the 29 Belle Townhome Project located at 2909 Belleview Avenue.
Section 2. That the sum of $130,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Shared Success Fund, Fund No. 2590, to the following account:
27-2590-107522-B-10_29BELLETWNHME 29 Belle Townhome Project $130,000.00
Section 3. That the City Manager is hereby designated as requisitioning authority for the account identified in Section 2 of this ordinance.
Section 4. That the City...
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