ORDINANCE NO. 240811

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Sponsor: Mayor Quinton Lucas

Accepting the recommendations of the Housing Trust Fund Board; reducing an existing appropriation by $6,762,549.55 and appropriating $6,762,549.55 from previously appropriated fund balance in the Housing Trust Fund; authorizing the Manager of Procurement Services to execute various funding agreements in accordance with this Ordinance; and authorizing the Director of the Housing and Community Development Department to expend up to $6,762,549.55 from funds appropriated in the Housing Trust Fund.

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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 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 No. 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, a special election was also duly held in the City on Tuesday, November 8, 2022 (the "2022 Election"), on the question of whether to issue general obligation bonds of the City in an amount not to exceed $50,000,000.00 for the purpose of affordable housing through the rehabilitation, renovation, and construction of houses and buildings, including blight removal, to provide affordable housing for very low-to moderate-income househ...

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