ORDINANCE NO. 260685
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Sponsor: Councilman O’Neill
Amending Committee Substitute for Ordinance No. 260576, As Amended, by repealing and replacing Section 1 for the purpose of revising the directive to the City Manager regarding the negotiation of appropriate reimbursement or other damage provisions to the benefit of the City in the Funding Agreement with The Phillips Edison Company.
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WHEREAS, Committee Substitute for Ordinance No. 260576, As Amended, authorized the City Manager to execute a Funding Agreement with The Phillips Edison Company for the relocation and reconstruction of N.E. Karapat Drive at North Oak Trafficway; and
WHEREAS, Section 1 of Committee Substitute for Ordinance No. 260576, As Amended, further directed the City Manager to negotiate appropriate reimbursement or other damage provisions to the benefit of the City if the Phillips Edison Company fails to substantially complete the development project within three years of the execution date of the Funding Agreement; NOW, THEREFORE
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section A. That Committee Substitute for Ordinance No. 260576, As Amended, is amended by repealing Section 1 and enacting a new Section 1 in lieu thereof to read as follows:
Section 1. That the Director of Public Works is hereby authorized to execute a Funding Agreement with The Phillips Edison Company for the relocation and reconstruction of N.E. Karapat Drive at North Oak Trafficway. A copy of the agreement, in substantial form as modified by this directive to the City Manager to negotiate appropriate reimbursement or other damage provisions to the benefit of the City if the Phillips Edison Company fails to substantially complete the development project within three years of City’s completion and opening of the relocated N.E. Karapat Drive, is on file in the office of the Director of Public Works.
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Approved as to form:
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Andrew Bonkowski
Assistant City Attorney