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[COMMITTEE SUBSTITUTE FOR]ORDINANCE NO. 260027

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Sponsors: Mayor Pro Tem Ryana Parks-Shaw and Councilperson Darrell Curls
COMMITTEE SUBSTITUTE

Authorizing the City Manager or his designee to negotiate and execute a Predevelopment Funding Agreement with EDWARDSESTATES LLC in an amount not to exceed $1,800,000.00 for predevelopment activities associated with a proposed workforce and attainable housing development project adjacent to United Believers Community Baptist Church located at 11101 US 71 Hwy., Kansas City, Missouri; reducing the Unappropriated Fund Balance of the Shared Success Fund in the amount of $1,800,000.00 and appropriating a like transfer to the Housing Trust Fund; appropriating $1,800,000.00 from the Unappropriated Fund Balance of the Housing Trust Fund;; authorizing the Director of Housing and Community Development or their designee to negotiate and execute amendments and related agreements; directing the Director of Housing and Community Development to report back to Council; and recognizing this ordinance as having an accelerated effective date.

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WHEREAS, the City Council has identified the need for workforce and attainable housing as a critical priority for Kansas City residents, particularly those households earning at or below sixty percent (60%) of the Area Median Income; and

WHEREAS, EDWARDSESTATES LLC (the "Developer") is a Missouri limited liability company affiliated with United Believers Community Baptist Church (the "Church"), a faith-based community organization with a demonstrated commitment to community development and improving the quality of life for residents within the Fifth District of Kansas City, Missouri; and

WHEREAS, the Developer has proposed a workforce and attainable housing development project adjacent to the Church's property located at 11101 US 71 Hwy., Kansas City, Missouri (the "Project") that will create affordable housing opportunities for working fami...

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