ORDINANCE NO. 240467
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Sponsor: Councilmember Eric Bunch
Appropriating $11,500,000.00 from the Unappropriated Fund Balance of the Streetcar Fund for the 2nd and Grand Track Improvements for the Streetcar Transit System.
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WHEREAS, pursuant to the TDD Act, the Kansas City Main Street Rail Transportation Development District (the "District") was established on August 11, 2017, by Order of the Circuit Court of Jackson County, Missouri, for the purpose of undertaking or causing to be undertaken, and funding, along with other sources, the design, construction, ownership and/or operation of (a) the Initial Phase in the place and stead of the Downtown Streetcar District, and (b) an extension of the Initial Phase, running south from Union Station generally along Main Street with a terminus in the general vicinity of the University of Missouri - Kansas City's Volker campus (the "Phase 2 Line" or the "Main Streetcar Extension," and collectively with the Initial Phase, the "Streetcar System"); and
WHEREAS, the District, the City and the Authority have entered into a Cooperative Agreement for Streetcar Phase 2, as may be amended and restated from time to time (the "Cooperative Agreement"), pursuant to which the City, the District and the Authority establish the roles and responsibilities of the parties in connection with the design, construction, management and operation of the Streetcar System and the City agrees to deposit, subject to annual appropriation, certain sums (the "City's Annual Contribution") into the Streetcar Fund established under the Cooperative Agreement, and the Initial Phase Cooperative Agreement has been terminated; and
WHEREAS, pursuant to the Cooperative Agreement, the District agrees to make monthly deposits of sales tax revenues and receipts from special assessments with the City for deposit into the Streetcar Fund, and the City agrees to use such funds for purposes of the Streetcar System as more fully set forth ther...
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