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File #: 220428    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 5/2/2022 In control: Council
On agenda: 5/26/2022 Final action: 5/26/2022
Title: Reducing an appropriation in the amount of $250,000.00 in the Central City Economic Development Sales Tax Fund; appropriating $250,000.00 from the Unappropriated Fund Balance in the Central City Economic Development Sales Tax Fund; and authorizing the Director of the Housing and Community Development Department to negotiate and execute a Funding Agreement with Jerusalem Farm, Inc., in the amount of $250,000.00 for the purpose of rehabilitation of existing homes including administrative fees and liaison expenses.
Attachments: 1. Fact Sheet - CCED Jerusalem Farm, 2. Fiscal Note - CCED Jerusalem Farm, 3. Authenticated Ordinance 220428
ORDINANCE NO. 220428

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Reducing an appropriation in the amount of $250,000.00 in the Central City Economic Development Sales Tax Fund; appropriating $250,000.00 from the Unappropriated Fund Balance in the Central City Economic Development Sales Tax Fund; and authorizing the Director of the Housing and Community Development Department to negotiate and execute a Funding Agreement with Jerusalem Farm, Inc., in the amount of $250,000.00 for the purpose of rehabilitation of existing homes including administrative fees and liaison expenses.

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WHEREAS, Jerusalem Farm, Inc. ("Developer") has proposed to rehabilitate existing homes and expand its Code Abatement Project, servicing residential units located in Independence Plaza neighborhood from East 9th Street to Truman Road between and The Paseo Boulevard and Indiana Avenue (the "Project Site"); and

WHEREAS, Developers proposal includes reducing code violations as it pertains to the City of Kansas City, Missouri and providing minor home repair for items such as roof, electrical, plumbing, and HVAC; and

WHEREAS, the Developer's proposal contemplates a financing package that includes Central City Economic Development Sales Tax Funds; and

WHEREAS, the Developer requested a public contribution of $250,000.00 and the Central City Economic Development Sales Tax Board has recommended that funding be approved in the amount of $250,000.00; and

WHEREAS, the project serves a predominantly public municipal purpose because, without limitation, completion of the project (i) enhances the tax base of the Project Site; (ii) retains and generates jobs; (iii) promotes economic development in the area of the City in which the Project Site is located, and promotes consideration of areas of the City that the City Council has determined to be blighted as a location for business operations; (iv) results in generation of tax revenues to the City from the conduct of business and other activiti...

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