committeesub
[COMMMITTEE SUBSTITUTE TO ORIGINAL]RESOLUTION NO. 240924

title
Sponsor: Councilmember Lindsay French
COMMITTEE SUBSTITUTE

RESOLUTION - Directing the City Manager to develop and present a Homeownership Assistance Program ("Program") to Council for Kansas City residents within 180 days.

body
WHEREAS, ensuring access to affordable housing is important for the continued growth and economic success of Kansas City; and

WHEREAS, homeownership helps residents achieve and maintain stability; and

WHEREAS, the City Council desires to increase homeownership in Kansas City; and

WHEREAS, Resolution 240277 directed the City Manager to develop establish an Employee Homeownership Assistance Program, which consists of a partial forgiveness loan for down payment and closing costs, combined with education, support and financing to make first-time homebuyer ownership of a single-family residence located within city limits sustainable and affordable for City employees; and

WHEREAS, the Employee Homeownership Assistance Program has been developed, with workshops beginning on November 4, 2024; and

WHEREAS, the Council would like to expand the Employee Homeownership Assistance Program city-wide after a certain amount of time had passed since the employee program's implementation; NOW, THEREFORE,

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

That the City Manager is directed to study and present a Homeownership Assistance Program for residents of Kansas City, Missouri to Council within 180 days, said Program to be an expansion of the Employee Homeownership Assistance Program The Program shall include:

* program and application specifics;
* budgetary costs for the implementation of the program;
* identify potential funding sources for necessary appropriations to support the program;
* peer city review;
* methods to accomplish goals to increase home ownership; a...

Click here for full text