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[COMMITTEE SUBSTITUTE FOR]ORDINANCE NO. 240450
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Sponsors: Mayor Quinton Lucas and City Manager
COMMITTEE SUBSTITUTE
Authorizing the City Manager to execute a funding agreement with the Missouri Department of Economic Development related to an allocation of funds from the State of Missouri in support of the South Loop Project; estimating revenues in the amount of $28,600,000 in the Capital Grants Fund and appropriating the same to project no. 89022041; and recognizing this ordinance as having an accelerated effective date.
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WHEREAS, the Missouri General Assembly appropriated, and the Governor approved, $28,600,000 for DED "For the planning, design, and construction of a park above an interstate in any city with more than four hundred thousand inhabitants and located in more than one county" from the "General Revenue Fund" (the "Appropriation"); and
WHEREAS, the City sought the Appropriation through an elected senator or representative; and
WHEREAS, the City has been identified to Missouri Department of Economic Development (DED) as the entity responsible for implementing the activities described in the Appropriation; and
WHEREAS, the City and DED wish to set forth their mutual expectations and obligations with respect to the Appropriation; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the City Manager is hereby authorized to enter into a Funding Agreement with the Missouri Department of Economic Development for the South Loop Project, Federal Project No. KU0833, City Project No. 89022041. A copy of the funding agreement is attached hereto in substantial form.
Section 2. Revenues is hereby estimated to the following account in the Capital Grants Fund:
25-3091-895114-477777-89022041 Surface Transportation Program Grant $28,600,000.00
Section 3. That the sum of $28,600,000 is hereby appropriat...
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