committeesub
[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 240647
title
Sponsor: Mayor Quinton Lucas
COMMITTEE SUBSTITUTE
Establishing Fund No. 3454, the Special Obligation Bond Series 2025B Projects Fund, in the records of the City of Kansas City; estimating revenue in the amount of $14,850,000.00 in the Special Obligation Bond Series 2025B Projects Fund, No. 3454; and appropriating the same in Fund 3454; authorizing a construction contract with Infrastructure Solutions, LLC, with a total value of $14,771,134.00 for the West Bottoms Phase I project (the "Project"); authorizing the City Manager to negotiate and execute a reimbursement agreement with the Planned Industrial Expansion Authority (PIEA) for reimbursement of design professional services associated with all phases of design of the West Bottoms Public Improvements Project; designating requisitioning authorities; declaring the intent of the City to reimburse itself from the bond proceeds for certain expenditures; authorizing the Director of Finance to close project accounts upon completion; and establishing this ordinance as having an accelerated effective date.
body
WHEREAS, on December 15, 2022, the City Council adopted Ordinance No. 221064, authorizing the City Manager to enter into a Predevelopment Agreement with West Bottoms - Propco Master, LLC, for the development of approximately 21.85 acres in the West Bottoms Area ("the Project"); and
WHEREAS, on March 24, 2024, the City Council adopted Ordinance No. 240256, approving the recommendations of the Tax Increment Financing Commission as to the West Bottoms Tax Increment Financing Plan, approving the City's contribution of additional EATs generated in the Plan Area, directing the Director of Finance to develop a finance plan, and authorizing the City Manager to enter into a Redevelopment Agreement with the Kansas City TIF Commission for the redevelopment of public infrastructure improvements, including, without limitation, sanitar...
Click here for full text