ORDINANCE NO. 240317
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Sponsor: Director of Housing and Community Development Department
Authorizing the CCED Board to request re-appropriation of funds in the amount of $2,600,770.00 from the Central City Sales Tax Fund--Projects into the Central City Sales Tax Fund to claw back funds from three withdrawn CCED projects.
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WHEREAS, Committee Substitute for Ordinance No. 190642 appropriated $1,205,231.00 and $490,539.00 from the Unappropriated Fund Balance of the Central City Sales Tax Fund to the Central City Sales Tax Fund-Projects for CCED Projects awarded to Urban America-KC EVE, LLC and KC Town Hall, respectively; and
WHEREAS, Second Committee Substitute for Ordinance No. 200998 appropriated $905,000 from the Unappropriated Fund Balance into the Central City Economic Development Sales Tax Fund for a CCED project awarded to Parade Park Homes; and
WHEREAS, the Urban America and KC Town Hall have withdrawn and will no longer be proceeding with their projects for various reasons; and
WHEREAS, the foreclosure and changing situation at Parade Park Homes necessitates a withdrawal of its CCED-awarded project; and
WHEREAS, the CCED Board would like to reappropriate these unused funds back into the Central City Sales Tax Fund so they may be used for future awards; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the sum of $2,600,770.00 is hereby reduced from the following account in the Central City Sales Tax:
24-2200-555998-B-57190644 Urban America - KC EVE, LLC $1,205,231.00
24-2200-555998-B-57190649 KC Town Hall 490,539.00
24-2200-555998-B-57PARADE Parade Park Homes 905,000.00
TOTAL $2,600,770.00
Section 2. That the sum of $2,600,770.00 is hereby appropriated from the Unappropriated Fund Balance of the Central City Sales Tax Fund to the following account:
24-2200-555998-B-55BUDGET Housing Budget $2,600,770.00
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I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred.
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Tammy L. Queen
Director of Finance
Approved as to form:
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Joseph A. Guarino
Senior Associate City Attorney