ORDINANCE NO. 260565
title
Sponsor: Mayor Quinton Lucas
Declaring the City Council's intent to support good-faith negotiations with the Kansas City Current for the expansion of the team's stadium in Kansas City; directing the City Manager to negotiate and execute a term sheet and negotiate a development agreement with the Kansas City Current or an affiliated entity for design and construction of an expanded stadium, parking garage, mixed-use development and supporting infrastructure (the "Project") in the Berkley Riverfront Park area; declaring the City Council's intent to support a Tax Increment Financing Plan for the Project; finding that the Project is a public benefit to the City and the State of Missouri; directing the City Manager to apply for various financial and tax incentives through state agencies and negotiate intergovernmental cooperative agreements with the State of Missouri and related entities; authorizing the City Manager to negotiate and enter into a lease or exclusive license agreement with a Community Improvement District and/or Ballard Development, LLC or an affiliate for the levee promenade, Lydia pumpstation, and cafe zones, authorizing or facilitating the issuance of up to $235,000,000 in special obligation bonds; and recognizing this ordinance as having an accelerated effective date.
body
Section 1. That the City Council hereby affirms its commitment to support the expansion of CPKC Stadium and continue good faith negotiations with the Current for an expanded stadium, parking garage, mixed-use development and supporting infrastructure (the "Project") in the Berkley Riverfront Park area.
Section 2. That the City Manager is hereby directed to negotiate and execute a term sheet related to the Project. The terms of the term sheet may include, but shall not be limited to, the following elements:
A. A description of the Project to include expansion of CPKC Stadium, parking garage, mixed use development, and ...
Click here for full text