ORDINANCE NO. 250381
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Sponsor: Councilmember Ryana Parks-Shaw
Authorizing the City Manager to negotiate and execute a cooperative agreement with Southpointe Development LLC to facilitate site preparation activities in connection with the redevelopment of certain real property located in an area generally located at 63rd and Prospect; authorizing the use of $4,500,000.00 previously appropriated from the General Fund; authorizing the use of $500,000.00 previously appropriated from the Development Services Fund; and authorizing the City Manager to negotiate and execute an Amended and Restated Development Agreement with Southpointe Development LLC.
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WHEREAS, Committee Substitute for Ordinance No. 210566 authorized the City Manager to execute a development agreement with the Tax Increment Financing Commission of Kansas City ("TIF") and UA KC Southpointe, LLC for the sale and development of mixed use, commercial, residential and community improvements (the "Project") of certain real property located in Kansas City, Missouri in an area that is generally bounded by 59th Street on the North, 63rd Street on the South, Bruce R. Watkins Highway on the East and Brooklyn Avenue on the West as more fully described by the schematic phasing plan attached hereto as Exhibit A, and incorporated herein, which development is known as the 63rd & Prospect Development (the "Development Area"); and
WHEREAS, City, TIF, and UA KC Southpointe, LLC entered into a Development Agreement on February 4, 2022, as amended by the First Amendment dated July 31, 2023 and the Second Amendment dated December 21, 2023 (the "Development Agreement"); and
WHEREAS, UA KC Southpointe, LLC assigned certain interests to Southpointe LLC; and
WHEREAS, pursuant to the Development Agreement, Southpointe LLC exercised its option to purchase certain areas of the Development Area referred to as "Subdivision 1-A"; and
WHEREAS, City entered into a ground lease agreement w...
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