HomeMy WebLinkAboutMO #2883MUNICIPAL ORDER NO. 2883
A MUNICIPAL ORDER AUTHORIZING UPPER STORY RESIDENTIAL
GRANT FUNDS IN THE AMOUNT OF $75,000 TO BHIK, LLC, FOR
APARTMENTS AT 219 BROADWAY AND FURTHER AUTHORIZING
TRANSFER OF $75,000 FROM ADMINISTRATIVE CONTINGENCY
FUNDS
WHEREAS, the applicant, BHIK, LLC, completed a project of eight rental units
at 219 Broadway in 2021; and
WHEREAS, due to limited funding in 2021, the grant funds awarded was
$45,000, even though the project was eligible for up to $120,000; and
WHEREAS, the applicant has requested the balance of the eligible funds; and
WHEREAS, the Urban Renewal and Community Development Agency reviewed
and approved the additional $75,000 on April 1, 2024; and
WHEREAS, in accordance with Ordinance No. 2017-02-8479, grants in excess
of $60,000 require City Commission approval; and
WHEREAS, to fund this request, approval to use Administrative Contingency
funds is also requested.
KENTUCKY:
NOW, THEREFORE, BE IT ORDERED BY THE CITY OF PADUCAH,
SECTION 1. That the City of Paducah hereby authorizes the additional award of
$75,000 to be paid to BHIK, LLC for the Upper Story Residential project located at 219
Broadway.
SECTION 2 . That the City of Paducah further authorizes the transfer of the
amount of $75,000 from Administrative Contingency Funds into account DT0033 Upper Story
Living Init., Account Number 4000 1201 523070.
SECTION 3. This Order shall be in full force ffect from and after the date
of its adoption.
George BraylMayor
ATTEST:
Claudia S. Meeks, Assistant City Clerk
Adopted by the Board of Commissioners, April 23, 2024
Recorded by Claudia S. Meeks, Assistant City Clerk, April 23, 2024
MO\Upper Story Residential Grant Funds — BHIK, LLC