COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 210873, AS AMENDED
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Amending Chapter 2, Code of Ordinances, by repealing Section 2-1693, "
Housing trust fund" and replacing it with a new Section 2-1693 of like title, for the purpose of establishing a governing body to review
Housing Trust Fund ("HTF") applications, with reporting requirements, funding allocation direction and prioritization of fund use; and requiring the application process to begin within 120 days.
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WHEREAS, the City Council established a
Housing Trust Fund through passage of Committee Substitute for Ordinance No. 180719 on December 20, 2018, to help implement neighborhood revitalization,
housing development, and preservation projects; 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 January 28, 2021, the City Council adopted Committee Substitute for Ordinance No. 201038, as amended, requiring projects which are primarily residential in nature and are seeking economic incentives in the nature of the capture and redirection, abatement or exemption of taxes or other City financing contain a minimum number of affordable
housing units; and
WHEREAS, the City Council adopted the City's stimulus spending plan "RecoverKC" on May 27, 2021, pursuant to Committee Substitute for Ordinance No. 210392, in which the City Council allocated $12,500,000.00 to the
Housing Trust Fund; and
WHEREAS, persons of low and moderate-income experience continued difficulty in locating and maintaining adequate, safe and sanitary affordable
housing within the City, and the
housing crisis has been exacerbated by th...
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