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File #: 220642    Version: Name:
Type: Ordinance Status: Passed
File created: 7/21/2022 In control: Council
On agenda: 8/4/2022 Final action: 8/4/2022
Title: Accepting the recommendations of the Housing Trust Fund Advisory Board; appropriating $7,953,360 from the Unappropriated Fund Balance in the Housing Trust Fund; authorizing the Director of the Housing and Community Development Department to execute various funding agreements and expend up to $7,953,360 from funds appropriated in the Housing Trust Fund; and requiring certain contract provisions.
Sponsors: Quinton Lucas, Melissa Robinson, Andrea Bough, Brandon Ellington
Attachments: 1. No Fact Sheet 220642, 2. 220642 Fiscal Note, 3. 220642 - Approp Admin, 4. HTF Presentation_08.01.22, 5. Authenticated Ordinance 220642 CS
COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 220642

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Accepting the recommendations of the Housing Trust Fund Advisory Board; appropriating $7,953,360 from the Unappropriated Fund Balance in the Housing Trust Fund; authorizing the Director of the Housing and Community Development Department to execute various funding agreements and expend up to $7,953,360 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, Section 2-1693(c)(3) sets forth the following funding minimum allocations in determining awards to applicants:

(...

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