ORDINANCE NO. 260561
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Sponsor: Mayor Quinton Lucas
Directing the City Manager to initiate the receivership process of Chapter 56 of the Kansas City Code of Ordinances for the vacant nuisance property known as the former Federal Reserve Bank of Kansas City site, located at 925 Grand Boulevard, Kansas City, 64106, in order to protect the health, safety, and welfare of residents by remediating the blight conditions through rehabilitation.
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WHEREAS, the structures and land of the former Federal Reserve Bank of Kansas City site (the "Site") have languished unused with progressive decay and deterioration since its closure in 2008; and
WHEREAS, the Site's vacancy and nuisance conditions directly and increasingly depreciate the value of nearby properties and depress regional commercial activity; and
WHEREAS, residents and property owners near the Site lament the nearly two decades of inactivity and decomposition, citing both aesthetic and security concerns involving the Site's crumbling exterior, graffiti covering the interior, broken glass and refuse strewn throughout, exposed ceilings with materials left dangling, an unsecured elevator shaft, and the Site's serving as a haven for squatting, fires, and other chronic nuisance activities; and
WHEREAS, the City has received multiple reports of property violations at the Site over time, including falling debris and people entering through unsecured entrances, and the current developer's failure to prevent and remediate these nuisances violates Code of Ordinances Sections 48-31 and 48-46(c), among other provisions; and
WHEREAS, the current developer acquired the site in 2013 and received City approval of a financial incentive package in 2016 to support development of a 284-room hotel, a 450-space parking garage, and a 40,000 square foot family entertainment center at an estimated cost of $182 million; and
WHEREAS, despite investing approximately $42 million in asbestos removal and i...
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