committeesub
[COMMITTEE SUBSTITUTE FOR] RESOLUTION NO. 260885
title
Sponsor(s): Mayor Pro Tem Ryana Parks-Shaw and Councilmember Darrell Curls
COMMITTEE SUBSTITUTE
RESOLUTION - Directing the City Manager to estimate costs necessary to complete infrastructure at the 63rd & Prospect Development; directing the City Manager to identify funding opportunities and tools to fund infrastructure work; and directing the City Manager to negotiate a co-development agreements with Southpointe, LLC, in connection with the redevelopment of certain real property located in an area generally located at 63rd and Prospect.
FINANCE COMMITTEE recommends “Immediate Adoption as a Committee Substitute, Debate.”
body
WHEREAS, Committee Substitute for Ordinance No. 210566 authorized the City Manager to execute a development agreement with the Tax Increment Financing Commission of Kansas City (“TIF”) and UA KC Southpointe, LLC, for the sale and development of mixed use, commercial, residential and community improvements (the “Project”) of certain real property located in Kansas City, Missouri in an area that is generally bounded by 59th Street on the north, 63rd Street on the south, Bruce R. Watkins Highway on the east and Brooklyn Avenue on the west as more fully described by the schematic phasing plan attached hereto as Exhibit A, and incorporated herein, which development is known as the 63rd & Prospect Development (the “Development Area”); and
WHEREAS, City, TIF, and UA KC Southpointe, LLC entered into a Development Agreement on February 4, 2022, as amended by the First Amendment dated July 31, 2023 and the Second Amendment dated December 21, 2023 (the “Development Agreement”); and
WHEREAS, UA KC Southpointe, LLC assigned certain interests to Southpointe, LLC; and
WHEREAS, pursuant to the Development Agreement, Southpointe, LLC, exercised its option to purchase certain areas of the Development Area referred to a...
Click here for full text