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[COMMITTEE SUBSTITUTE FOR]ORDINANCE NO. 260704
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Sponsor: Mayor Quinton Lucas
COMMITTEE SUBSTITUTE
Authorizing the City Manager to execute a lease, development agreement, community impact partnership agreement, and funding agreement with the Kansas City Royals or an affiliated entity for design, construction, and operations of a new stadium, team offices, and supporting infrastructure (the "Project") in the Washington Square Park/Crown Center area; authorizing the execution of additional cooperative agreements in connection with the lease, development agreement, and funding agreement; authorizing the City Manager to execute intergovernmental cooperative agreements with the State of Missouri and related entities; authorizing the City Manager to negotiate and execute a non-relocation agreement; establishing Fund No. 3459, the Special Obligation Downtown Stadium Bond Fund; estimating and appropriating bond proceeds in the amount of $20,000,000.00 for the purpose of providing a portion of the City's contribution to the Project; providing direction to the City Manager on the funding sources for the Project and future debt service; reaffirming the City's intent to provide funding totaling $600,000,000.00 toward the Project; authorizing the execution of additional agreements as necessary to comply with the directives of this ordinance; reaffirming the Council's intent to waive the contract solicitation and Article IV, Chapter 3, requirements otherwise set out in the Code of Ordinances as to the agreements authorized in this Ordinance; waiving the requirements of Section 88-586-01 through 88-586-07; waiving the requirements of Ordinance No. 60321 with respect to the Project; and recognizing this ordinance as having an accelerated effective date.
FINANCE COMMITTEE recommends "Advance and Do Pass as a Committee Substitute, Debate."
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WHEREAS, the City Council remains committed to retaining the Kansas City Royals in Kansas City and is com...
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