ORDINANCE NO. 250250
title
Sponsors: Councilmembers Kevin O'Neill, Nathan Willett, Lindsay French and Mayor Quinton Lucas
Approving a plan of finance for City's contribution to the Northland Workforce Development Center; establishing Fund No. 3456, 2026A Taxable Special Obligation Bond Fund; estimating and appropriating bond proceeds in the amount of $29,500,000.00 for the purpose of providing the City's contribution to the project; authorizing the City Manager to execute an agreement to establish certain conditions for the City's contribution; directing the City Manager, as necessary, to identify in the initial quarterly budget clean-up sources to fill any funding gaps existing in project delivery; and declaring the effective date of this ordinance to be May 1, 2025.
body
WHEREAS, on February 13, 2025, the City Council adopted Committee Substitute for Ordinance No. 250132 directing the City Manager to develop a plan of finance to support the development of the new workforce development facility in an amount not to exceed $30,000,000.00; and
WHEREAS, the total cost of the new workforce development facility is estimated to be approximately $74,000,000.00 and the State of Missouri has appropriated $37,000,000.00 towards the development of a Northland Workforce Development Center with the balance to come from $7 million in private donations and a City contribution; and
WHEREAS, the City Council allocated $500,000.00 as a contribution to the Northland Workforce Development Center through its FY2024-25 Adopted Budget and said contribution was made on October 16, 2024, reducing the City's current contribution for the project to an amount not to exceed $29,500,000.00 with said contribution being counted toward the estimated $7 million in private donations; and
WHEREAS, the City desires to support the project but will have no responsibility for maintenance or operation of the facility and will impose certain conditions to reflect the le...
Click here for full text