ORDINANCE NO. 250647
title
Sponsor: Director of Public Works Department
Estimating revenue in the amount of $19,800.00 in the Capital Improvements Fund; authorizing the Director of Public Works to execute a five-year lease agreement with the option for four additional five-year renewals with Waldo Community Improvement District for surfacing parking lots at 74th and Broadway.
body
WHEREAS, the City owns fee simple interest in the Country Club Right of Way which was acquired by the City pursuant to Ordinance No. 200785; and
WHEREAS, a number of businesses and organizations utilize portions of the Country Club Right of Way for a variety of activities, including parking; and
WHEREAS, the City enters into lease agreements with these businesses and organizations in order to support these activities; and
WHEREAS, the lease agreement establishes an initial annual rent of $19,800.00 for use of the Premises during the first year, with a 3% increase in rent commencing each subsequent year; and
WHEREAS, the revenue generated from said rent shall be allocated to the Capital Improvements Fund for Country Club Right of Way expenses; and
WHEREAS, pursuant to Section 3-201 of the City Code of Ordinances, the City Council must approve all leases of City property with a term longer than one year or for consideration in excess of $50,000.00; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the revenue in the following account of the Capital Improvements Fund is hereby estimated in the following amount:
26-3090-891274-481000 Misc Contributions $19,800.00
Section 2. Authorizing the Director of Public Works to execute a five (5) year lease agreement with the option of four (4) additional five-year (5) renewals with Waldo Community Improvement District for surfacing parking lots at 74th and Broadway. A copy of the agreement is on file with the Public Works Department.
end
______________________________________________________
I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred.
___________________________________
Tammy L. Queen
Director of Finance
Approved as to form:
___________________________________
Dustin E. Johnson
Associate City Attorney