ORDINANCE NO. 231053
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Sponsor: Mayor Quinton Lucas
Repealing Ordinance No. 231011 and directing the City Manager, in the event of the developer's failure to perform its contractual obligations, to terminate the 63rd and Prospect development contract and issue a request for proposals for the 63rd and Prospect development area.
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WHEREAS, the City previously requested proposals for construction of high quality retail and residential uses within the City's 63rd and Prospect development area and selected UrbanAmerica, LLC as the developer of the area; and
WHEREAS, in Committee Substitute for Resolution No. 180628, the Council directed the City Manager to enter into negotiations with UrbanAmerica, LLC for a phased sale and development of property at 63rd and Prospect (the "Property"); and
WHEREAS, in Committee Substitute for Ordinance No. 210566, the Council authorized the City Manager to execute a development agreement with the Tax Increment Financing Commission of Kansas City and UA KC Southpointe, LLC for the Property; and
WHEREAS, such Development Agreement was executed on February 4, 2022 (the "Agreement"), and a First Amendment thereto was executed on July 31, 2023; and
WHEREAS, Ordinance No. 231011 directed the City Manager to execute a Second Amendment to the Development Agreement; and
WHEREAS, concerns exist about whether all parties will be able to perform all obligations under the agreement; and
WHEREAS, the 63rd and Prospect site represents an important opportunity for new development for the Fifth City Council District and for Kansas City as a whole; and
WHEREAS, the City Council remains committed to redevelopment of 63rd and Prospect as a successful commercial and residential destination, and supports a private/public partnership effort through use of development incentives and other financing tools; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF ...
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