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[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 230828
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Sponsor: Councilmember Melissa Patterson-Hazley
Directing the City Manager to enter into a contract with Community Builders of Kansas City in the amount of $1,081,308.00 and consistent with Housing Trust Fund guidelines, for the purpose of completing renovations to Ivanhoe Gardens Apartments; appropriating $1,081,308.00 from the Unappropriated Fund Balance of the Shared Success Fund; authorizing reimbursement from the Housing Trust Fund into the Shared Success Fund; designating requisitioning authority; and recognizing this ordinance as having an accelerated effective date.
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WHEREAS, the City established the Shared Success Fund in the Second Committee Substitute for Ordinance No. 160383, As Amended, to fund qualified redevelopment projects in economically distressed areas of the City in need of benefits derived from economic development; and
WHEREAS Ordinance No. 160383 requires fund recipients to be located in a severely distressed census tract that has continually maintained such status for not less than ten (10) years immediately prior to the effective date of the request; and
WHEREAS, Community Builders of Kansas City ("CBKC") desires to complete necessary renovations to the Ivanhoe Gardens Apartments within the City (the "Project") in order to preserve affordable housing for its residents; and
WHEREAS, Ivanhoe Gardens Apartments is located within Qualified Census Tract No. 29095005500 (also known as 55.00), which has been designated as a qualified tract since at least 2009 by the federal Department of Housing and Urban Development; and
WHEREAS, Ivanhoe Gardens Apartments operates almost exclusively on funds provided by the Department of Housing and Urban Development and primarily houses Kansas Citians whose income falls at or below 50% of the area median family income ("AMFI"); and
WHEREAS, the Project serves a predominantly public municipal purpose because the co...
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