ORDINANCE NO. 240467
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Sponsor: Councilmember Eric Bunch
Appropriating $11,500,000.00 from the Unappropriated Fund Balance of the Streetcar Fund for the 2nd and Grand Track Improvements for the Streetcar Transit System.
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WHEREAS, pursuant to the TDD Act, the Kansas City Main Street Rail Transportation Development District (the “District”) was established on August 11, 2017, by Order of the Circuit Court of Jackson County, Missouri, for the purpose of undertaking or causing to be undertaken, and funding, along with other sources, the design, construction, ownership and/or operation of (a) the Initial Phase in the place and stead of the Downtown Streetcar District, and (b) an extension of the Initial Phase, running south from Union Station generally along Main Street with a terminus in the general vicinity of the University of Missouri - Kansas City’s Volker campus (the “Phase 2 Line” or the “Main Streetcar Extension,” and collectively with the Initial Phase, the “Streetcar System”); and
WHEREAS, the District, the City and the Authority have entered into a Cooperative Agreement for Streetcar Phase 2, as may be amended and restated from time to time (the “Cooperative Agreement”), pursuant to which the City, the District and the Authority establish the roles and responsibilities of the parties in connection with the design, construction, management and operation of the Streetcar System and the City agrees to deposit, subject to annual appropriation, certain sums (the “City’s Annual Contribution”) into the Streetcar Fund established under the Cooperative Agreement, and the Initial Phase Cooperative Agreement has been terminated; and
WHEREAS, pursuant to the Cooperative Agreement, the District agrees to make monthly deposits of sales tax revenues and receipts from special assessments with the City for deposit into the Streetcar Fund, and the City agrees to use such funds for purposes of the Streetcar System as more fully set forth therein, including but not limited to paying debt service on any bonds or other obligations issued to finance costs of the design, acquisition and construction of the Streetcar System; and
WHEREAS, the City, the Kansas City Streetcar Authority, the Kansas City Area Transportation, and PortKC have partnered to expand the streetcar system to UMKC and the Riverfront; and
WHEREAS, the 2nd and Grand track construction and related improvements will improve the efficiency of and access to the KC Streetcar system, including the Main Street Extension and Riverfront projects; and
WHEREAS, this appropriation of streetcar funds to the Streetcar Authority will support the completion of non-revenue track improvements and the Riverfront Extension Project, and will be matched by $35,000,000.00 in secured federal grants and non-City funding contributions; and
WHEREAS, the Main Street Rail Transportation Development District and the Streetcar Authority Board of Directors have approved the appropriation request as required by the Cooperative Agreement for Streetcar Phase 2, and
WHEREAS, these system enhancements and expansions are integral for supporting and implementing long-planned access improvements to Berkley Riverfront, KC Current’s CPKC Stadium, and anticipated riverfront development, and will continue the collective efforts to expand the reach and impact of our world-class streetcar system; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY,
Section 1. That the sum of $11,500,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Streetcar Fund to the following account:
25-2085-693000-B Streetcar Authority $11,500,000.00
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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.
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Tammy L. Queen
Director of Finance
Approved as to form:
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Samuel Miller
Assistant City Attorney