ORDINANCE NO. 260951
title
Sponsor: Director of City Planning and Development Department
Authorizing the Director of City Planning and Development to execute the First Amendment to Loan Agreement, First Amendment to Deed of Trust, and First Amendment to Promissory Note with Port Authority of Kansas City, Missouri for a loan in an amount not to exceed $2,541,318.00 for environmental remediation activities; and authorizing the Director of City Planning and Development to expend the sum of up to $242,103.00 from previously appropriated funds.
body
WHEREAS, on August 21, 2025, by Ordinance No. 250655, as amended, and subject to certain enumerated conditions that were subsequently met, Council authorized an agreement with Port Authority of Kansas City, Missouri (“Port KC”) for a loan from the Kansas City Brownfields Revolving Loan Fund (RLF) in the amount of $2,541,318.00 to remediate hazardous substances and perform other related work necessary for the abatement and demolition of structures at the Parade Park Homes site, consisting of eight parcels located at 1501, 1534, 1600 and 1726 Euclid Avenue; 1510, 1519 Garfield Avenue; 1601 Woodland Avenue; and 1700 Michigan Avenue, Kansas City, Missouri (the "Parade Park Site") (collectively, the "RLF Loan"); and
WHEREAS, by the same Ordinance, Council further authorized that the RLF Loan agreement contain a provision allowing up to $500,000.00 of the loan principle to be forgiven subject to certain enumerated conditions;
WHEREAS, on November 21, 2025, an agreement for the RLF Loan concerning the Parade Park Site, excluding certain properties then subject to on-going review by the U.S. Department of Housing and Urban Development (HUD) for Section 202 senior housing funding (the “202 Property”) and not including provisions for the forgiveness of loan principle, in the amount of $2,535,215.00, and related agreements, were entered into with Port KC; and,
WHEREAS, the parties to the RLF Loan desire to amend the RLF Loan...
Click here for full text