HomeMy WebLinkAbout96-1-5433ORDINANCE #96-1- 15-#33
AN ORDINANCE FORMALLY ACCEPTING A HOME
GRANT FROM THE KENTUCKY HOUSING
CORPORATION IN THE AMOUNT OF $507,309.00
AND A CDBG GRANT FROM THE KENTUCKY
DEPARTMENT OF LOCAL GOVERNMENT IN THE
AMOUNT OF $1,000,000.00, AND AUTHORIZING THE
MAYOR TO EXECUTE ALL DOCUMENTS, INCLUDING
GRANT AGREEMENTS, NECESSARY TO RECEIVE
SAID GRANTS
WHEREAS, after making application to the Kentucky Department of
Local Government and the Kentucky Housing Corporation, the City of Paducah has
received two grants for neighborhood improvements regarding the Martin Luther King
Area Housing Initiative; and
WHEREAS, as a condition of these grants, the city must formally accept
the awards and authorize the Mayor to sign all documents, including grant
agreements, necessary for release of the grants;
NOW, THEREFORE, be it ordained by the City of Paducah, Kentucky:
SECTION 1, The City of Paducah hereby formally accepts a HOME
grant from the Kentucky Housing Corporation in the amount of $507,309.00, and a
CDBG Grant from the Kentucky Department of Local Government in the amount of
$1,000,000.00, both of which relate to its Martin Luther King Area Housing Initiative.
SECTION 2. The Mayor is hereby authorized to execute all document,
including grant agreements necessary to obtain the above -referenced grants.
Section 3. This ordinance shall be read on two separate days and
will become effective upon publication of title or a certified summary thereof.
Introduced by the Board of Commissioners
Adopted by the Board of Commissioners
Recorded by City Clerk
Published by The Paducah Sun
23069
b
Albert Jones, Mayor
. a3, /9-7G
FI(.
420
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421
ORDINANCE #96-1-
AN ORDINANCE COMMITTING $120,000.00 OF HOPE
RECAPTURE FUNDS FOR THE CONSTRUCTION OF
THREE HOMES FOR FIRST-TIME HOME BUYERS IN
ACCORDANCE WITH THE CITY'S MARTIN LUTHER
KING AREA HOUSING INITIATIVE; COMMITTING
SUFFICIENT FUNDS NECESSARY TO RENOVATE -
AND/OR RELOCATE VOORS PARK; AUTHORIZING
THE EXPENDITURE OF $31,000.00 OF CASH
MATCHING FUNDS TO SECURE A $507,309.00 HOME
GRANT FROM THE KENTUCKY HOUSING
CORPORATION; AUTHORIZING THE AMENDMENT OF
THE CURRENT BUDGET TO INCLUDE A HOME
GRANT FROM THE KENTUCKY HOUSING
CORPORATION IN THE AMOUNT OF $507,309.00
AND A CDBG GRANT FROM THE KENTUCKY
DEPARTMENT OF LOCAL GOVERNMENT IN THE
AMOUNT OF $1,000,000.00; AND ESTABLISHING
BUDGET ACCOUNTS FOR BOTH OF THE AFORESAID
GRANTS
WHEREAS, after making application to the Kentucky Department of
Local Government and the Kentucky Housing Corporation, the City of Paducah has
received two grants for neighborhood improvements regarding the Martin Luther King
Area Housing Initiative; and
WHEREAS, as a requirement of receiving the aforesaid grants, the city
must take various actions relating to the administration of said funds; and
WHEREAS, the City of Paducah desires to take the required actions
necessary to obtain said grants;
NOW, THEREFORE, be it ordained by the City of Paducah, Kentucky:
SECTION 1. The City of Paducah does hereby commit $120,000.00 of
HOPE Recapture Funds for the construction of three homes for first-time home buyers
in accordance with the city's Martin Luther King Area Housing Initiative. The aforesaid
funds are currently held in and shall be charged to Account No. 007-0000-300-01-01.
SECTION 2. The city hereby agrees to commit sufficient funds to
renovate and/or relocate Voors Park.
Section 3. The City of Paducah hereby commits to expend
$31,000.00 of cash matching funds to secure the $507,309.00 HOME grant from the
Kentucky Housing Association.
Section 4. The City of Paducah is authorized and directed to amend
its current budget to include the $507,309.00 HOME grant received from the Kentucky
Housing Corporation, and the $1,000,000.00 CDBG grant received from the Kentucky
Department of Local Government.
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Section 5. The City of Paducah is hereby authorized and directed to
establish budget accounts for the hereinabove referenced grants. The HOME Grant
shall bear account no. 008-1217-514- . The CDBG grant shall bear account
no. 006 -1214 -513 -
Section 6. This ordinance shall be read on two separate days and
will become effective upon publication of title or a certified summary thereof.
Introduced by the Board of Commissioners.
Adopted by the Board of Commissioners _
Recorded by City Clerk
Published by The Paducah Sun
23072
Albert Jones, May
. 9, l99
422