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BULLET St. Louis City Ordinance 64445

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FLOOR SUBSTITUTE
BOARD BILL NO. [98] 102

INTRODUCED BY ALDERMAN Martie J. Aboussie , Miguel Mitchell, April Ford Griffin, Phyllis Young, Craig N. Schmid, Matt Villa, Fred Heitert, Alfred Wessels, Jr., Margaret Vining, Terry Kennedy, Michael McMillan, Bennice Jones King, Kenneth Jones, James Sondermann, Robert Ruggeri, Paul Michael Beckerle, Irving C. Clay, Jr., Gregory Carter, Lyda Krewson

An ordinance, recommended by the Board of Estimate and Apportionment pertaining to the Section 108 Loan Guarantee Program, authorizing and directing the Mayor, on behalf of the City, to apply to the United States Department of Housing and Urban Development ("HUD") pursuant to Section 108 of Title I of the Housing and Community Development Act of 1974, as amended (the AAct@) for Section 108 Loan Guarantee Program Funds (the ASection 108 Funds@); authorizing and directing the Mayor and the Comptroller, on behalf of the City, to execute a Contract or Contracts for Loan Guarantee Assistance and Promissory Note(s) with HUD; and to receive and use such Section 108 Funds for the Downtown Convention Center Hotel, the Darst-Webbe (Near Southside) Hope VI Revitalization Plan, and Neighborhood Housing and Economic Development Projects; appropriating the Section 108 Funds; authorizing and directing the Director of the Community Development Agency ("CDA"), upon approval of the Community Development Commission ("CDC"), to contract with municipal agencies, non-profit corporations and other entities, as necessary, for the expenditure of the Section 108 Funds, and directing the Comptroller to issue warrants thereon upon the City Treasury; and containing an emergency clause.

BE IT ORDAINED BY THE CITY OF ST. LOUIS AS FOLLOWS:

Section One. The Mayor, on behalf of the City of St. Louis, is hereby authorized and directed to make application to HUD for Section 108 Loan Guarantee Assistance in the Amount of Fifty Million Dollars ($50,000,000).

Section Two. The Mayor and the Comptroller, on behalf of the City of St. Louis, are hereby authorized and directed to execute a Contract or Contracts for Loan Guarantee Assistance and Promissory Note(s) with HUD; and to receive and use such Section 108 Funds for the Downtown Convention Center Hotel, the Darst-Webbe (Near Southside) Hope VI Revitalization Plan, and Neighborhood Housing and Economic Development Projects as described in Exhibit A incorporated herein by reference. Section Three. The Section 108 Funds are hereby appropriated for the Downtown Convention Center Hotel, the Darst-Webbe (Near Southside) Hope VI Revitalization Plan, and Neighborhood Housing and Economic Development Projects as described in Exhibit A incorporated herein by reference.

EXHIBIT A

PROJECT AMOUNT
Downtown Convention Center Hotel $20,000,000
Darst-Webbe (Near Southside) Hope VI Revitalization Plan $20,000,000


Neighborhood Housing and Economic Development Projects:





Project Amount
Hamilton Heights/Mark Twain Development $200,000
Baden Development $250,000
MLK Commercial Development/Ville Residential Development $600,000
St. Louis Place Redevelopment Area $1,000,000
Benton Park/Benton Park West/Soulard/Tower Grove East Development $850,000
Grand/Chippewa Commercial Development $650,000
Carondelet Development $300,000
Gravois/Kingshighway Commercial Development $250,000
Dutchtown Development $300,000
Utah/Gustine Acquisition/Rehab $1,000,000
Sixteenth Ward Home Repair $50,000
Vandeventer Redevelopment Area $500,000
Covenant-Blu/Grand Center Redevelopment Area $500,000
Natural Bridge/Newstead Commercial Development $500,000
Wells Goodfellow/Hamilton Heights Development $300,000
Clifton Heights/Lindenwood Development $50,000
Franz Park/Hi-Pointe/Clayton-Tamm/Hill Development $350,000
So. Kingshighway/Grand&Meramec Commercial Development $250,000
West End Redevelopment Area $1,000,000
Walnut Park Development $600,000
Delmar Link Public Improvements $500,000
Total Neighborhood Housing and Economic Development Projects: $10,000,000
TOTAL SECTION 108 LOAN: $50,000,000
Legislative History
1ST READING REF TO COMM COMMITTEE COMM SUB COMM AMEND
06/26/9806/26/98HUDZ07/10/98
2ND READING FLOOR AMEND FLOOR SUB PERFECTN PASSAGE
07/10/9807/17/9807/24/98
ORDINANCE VETOED VETO OVR
64445 


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