ORDINANCE NO. 240317

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Sponsor: Director of Housing and Community Development Department

Authorizing the CCED Board to request re-appropriation of funds in the amount of $2,600,770.00 from the Central City Sales Tax Fund--Projects into the Central City Sales Tax Fund to claw back funds from three withdrawn CCED projects.

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WHEREAS, Committee Substitute for Ordinance No. 190642 appropriated $1,205,231.00 and $490,539.00 from the Unappropriated Fund Balance of the Central City Sales Tax Fund to the Central City Sales Tax Fund-Projects for CCED Projects awarded to Urban America-KC EVE, LLC and KC Town Hall, respectively; and

WHEREAS, Second Committee Substitute for Ordinance No. 200998 appropriated $905,000 from the Unappropriated Fund Balance into the Central City Economic Development Sales Tax Fund for a CCED project awarded to Parade Park Homes; and

WHEREAS, the Urban America and KC Town Hall have withdrawn and will no longer be proceeding with their projects for various reasons; and

WHEREAS, the foreclosure and changing situation at Parade Park Homes necessitates a withdrawal of its CCED-awarded project; and

WHEREAS, the CCED Board would like to reappropriate these unused funds back into the Central City Sales Tax Fund so they may be used for future awards; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the sum of $2,600,770.00 is hereby reduced from the following account in the Central City Sales Tax:

24-2200-555998-B-57190644 Urban America - KC EVE, LLC $1,205,231.00
24-2200-555998-B-57190649 KC Town Hall 490,539.00
24-2200-555998-B-57PARADE Parade Park Homes 905,000.00
TOTAL $2,600,770.00


Section 2. That the sum of $2,600,770.00 is hereby appropriated from the Unappropriated Fund Balance of the Central City Sales Tax Fund to the following account:

24-2200-555998-B-55BUDGET Housing Budget $2,600,770.00

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