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[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 240477
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Sponsor: Mayor Quinton Lucas
COMMITTEE SUBSTITUTE
Authorizing the Director of Parks and Recreation to enter into a Funding Agreement with Starlight Theater Association of Kansas City, Inc., and its affiliates and assigns for the reimbursement of certain funds provided by Kansas City (the "City") to cover a portion of the costs required to make improvements to the existing Starlight Theater at Swope Parkway and 63rd Street; appropriating the sum of $3,500,000.00 from the Unappropriated Fund Balance of the Parks Sales Tax Fund; and recognizing this ordinance as having an accelerated effective date.
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WHEREAS, Starlight Theater Association of Kansas City, Inc., and its affiliates and assigns (the "Association") has proposed improvements to the existing Starlight Theater on the southeast corner of Swope Parkway and 63rd Street (the "Starlight Improvement Project"); and
WHEREAS, the Starlight Improvement Project will include, but is not limited to, development of a new accessible venue entrance, construction of a light bridge and partial canopy and increasing food, beverage, and restroom facilities; and
WHEREAS, the City Council desires to appropriate funds to be used for Phase I of the Starlight Improvement Project and only in the event of a shortfall in fundraising by the Association which said shortfall must be evidenced to the City via monthly updates and further, that any appropriation of the City must be repaid pursuant to the terms of the Agreement approved herein; and
WHEREAS, the Association has current operating reserves of $3.6 million; and
WHEREAS, the Phase I gap is projected to be $5 million to be funded as $1.5 million from the Association's operating reserves and $3.5 million from the Parks Sales Tax Fund; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the Director of Parks and Recreation is hereby aut...
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