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[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 230581, AS AMENDED
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Sponsor: Mayor Quinton Lucas
Consenting to the assignment of certain development rights for Block 124; authorizing the City Manager to execute an Amended and Restated Master Development Financing Agreement among the City of Kansas City, Missouri, the Port Authority of Kansas City, Missouri, and Kansas City Live LLC, a Fifth Amendment to Development Agreement with HRB Tax Group, Inc., and an amendment to the Parking, Operation, Maintenance and Easement Agreement with President Development Group Inc. and President Hotel LC.
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WHEREAS, the City Council passed Ordinance No. 040154 on March 3, 2004, which accepted the recommendations of the Tax Increment Financing Commission of Kansas City, Missouri ("TIF Commission"), as to the 1200 Main/South Loop Tax Increment Financing Plan ("1200 Main/South Loop TIF Plan"), approved the 1200 Main/South Loop TIF Plan, designated a Redevelopment Area, and contemplated the completion of multiple Redevelopment Projects for the purposes of remediating blight, including a new office tower; and
WHEREAS, on October 11, 2004, (a) the City and HRB Tax Group, Inc., formerly known as H&R Block Services, Inc. ("HRB"), executed that certain Development Agreement dated October 11, 2004, as subsequently amended by that certain First Amendment to Development Agreement dated October 2, 2017, that certain Second Amendment to Development Agreement dated August 20, 2020, that certain Third Amendment to Development Agreement dated December 18, 2020 and that certain Fourth Amendment to Development Agreement dated December 28, 2022 (collectively, the "HRB Development Agreement") and (b) the City, as successor in interest to the TIF Commission, and HRB executed that certain Lease with Option, whereby HRB was granted an option to purchase Block 124, Unit 3 ("Option"); and
WHEREAS, the HRB Development Agreement obligates the City to ...
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