committeesub
[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 260565
title
Sponsor: Mayor Quinton Lucas
COMMITTEE SUBSTITUTE
Declaring the City Council's intent to support good-faith negotiations with the Kansas City Current for the expansion of the team's stadium in Kansas City; directing the City Manager to negotiate and execute a term sheet and negotiate a development agreement with the Kansas City Current or an affiliated entity for design and construction of an expanded stadium, parking garage, mixed-use development and supporting infrastructure (the "Project") in the Berkley Riverfront Park area; declaring the City Council's intent to support a Tax Increment Financing Plan for the Project; finding that the Project is a public benefit to the City and the State of Missouri; directing the City Manager to apply for various financial and tax incentives through state agencies and negotiate intergovernmental cooperative agreements with the State of Missouri and related entities; authorizing the City Manager to negotiate and enter into a lease or exclusive license agreement with a Community Improvement District and/or Ballard Development, LLC or an affiliate for the levee promenade, Lydia pumpstation, and cafe zones, authorizing the evaluation of the issuance of up to $235,000,000 in special obligation bonds; directing the City Manager to analyze the impact of additional development; and recognizing this ordinance as having an accelerated effective date.
Advance and Do Pass as a Committee Substitute
body
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the City Council hereby affirms its commitment to support the expansion of CPKC Stadium and continue good faith negotiations with the Current for an expanded stadium, parking garage, mixed-use development and supporting infrastructure (the "Project") in the Berkley Riverfront Park area.
Section 2. That the City Manager is hereby directed to negotiate and execute a t...
Click here for full text