COMMITTEE SUBSTITUTE
FOR ORDINANCE NO. 041379
Approving the assignment of
certain development rights with respect to Phase 1 of the Bedrock Redevelopment
Project (formerly Wyndham Gardens Hotel-Plaza) by Grubarges-Kansas City, L.L.C.
to Main Street Partners Redevelopment Corporation; releasing Grubarges-Kansas
City, L.L.C. as it relates to those certain development rights and authorizing
execution of an Assignment and Assumption Agreement with Grubarges-Kansas City,
L.L.C. and Main Street Partners Redevelopment Corporation.
WHEREAS, the
Bedrock Partners Redevelopment Corporation, an urban redevelopment corporation
of Missouri, organized under and pursuant to the Urban Redevelopment
Corporation Act of 1945, as amended (Bedrock), did file with the City Clerk
an application for approval of the Development Plan (the Development Plan)
which was approved by the City Council by Ordinance No. 951707, passed January
18, 1996, and a redevelopment contract was executed on December 4, 1996,
between the City and Bedrock (the Contract); and
WHEREAS, Bedrock
did file a First Amendment to the Development Plan which was approved by the
City Council by Committee Substitute for Ordinance No. 961427 (the First
Amended Plan), passed December 5, 1996, and the First Amendment to the
Redevelopment Contract was executed on December 30, 1996 (the First Amended
Contract) (the Contract as amended by the First Amended Contract shall
hereinafter be referred to as the Redevelopment Contract); and
WHEREAS, Bedrock
Partners did assign and transfer certain development rights with respect to
Phase 2 of the Development Plan to the K.C. Homestead Village Redevelopment
Corporation, an urban redevelopment corporation of Missouri, organized under
and pursuant to the Urban Redevelopment Corporation Act of 1945, as amended,
and said assignment was approved by the City Council by Committee Substitute
for Ordinance No. 961427, passed on December 5, 1996; and
WHEREAS, on
April 15, 1999, the Council passed Resolution No. 990500 authorizing the
Director of the Department of City Development to issue a Certificate of
Completion to the K.C. Homestead Village Redevelopment Corporation pursuant to
the terms and conditions of the Development Plan and Redevelopment Contract and
pursuant to Section 74-17(d), Code of Ordinances of the City of Kansas City,
Missouri, for Phase 2 of the Bedrock Redevelopment Project and the Certificate
of Completion was issued on April 15, 1999; and
WHEREAS, on July
8, 1999, the Council passed Resolution No. 990883 authorizing the Director of
the Department of City Development to issue a Certificate of Completion to
Bedrock pursuant to the terms and conditions of the Development Plan, as
amended, the Redevelopment Contract and pursuant to Section 74-17(d), Code of
Ordinances of the City of Kansas City, Missouri, for Phase 1 of the Bedrock
Redevelopment Project and the Certificate of Completion was issued on August
24, 1999; and
WHEREAS, Bedrock
did assign and transfer certain development rights with respect to Phase 1 of
the Development Plan and the Redevelopment Contract to the Grubarges-Kansas
City, L.L.C., and said assignment was approved by the City Council by Committee
Substitute for Ordinance No. 001217, passed on October 26, 2000; and
WHEREAS,
Grubarges-Kansas City, L.L.C. provided notice to the City that Phase 1 of the
Bedrock Redevelopment Project had been sold and transferred by Grubarges-Kansas
City, L.L.C., to Main Street Partners Redevelopment Corporation, and that
Grubarges-Kansas City, L.L.C. desired to assign and transfer its rights and
obligations under the Development Plan, as amended and the Redevelopment
Contract to Main Street Partners Redevelopment Corporation, pursuant to an
Assignment and Release Agreement dated December 15, 2004; NOW, THEREFORE,
BE IT ORDAINED
BY THE COUNCIL OF KANSAS CITY:
Section 1. That
the assignment of Grubarges-Kansas City, L.L.C. to Main Street Partners
Redevelopment Corporation, of all of its rights, title, obligations and
interest under the Redevelopment Contract as it affects certain property
legally described as:
Tract 1, Plaza Inn,
a subdivision lying within Kansas City, Jackson County, Missouri, as shown by
the plat recorded February 1, 1996, as Document No. K-0004367.
is hereby approved. A copy of said Assignment and Release
Agreement dated December 15, 2004, is attached hereto and incorporated herein
by reference.
Section 2. The
City accepts and acknowledges Main Street Partners Redevelopment Corporation as
the assignee of Grubarges-Kansas City, L.L.C.'s rights, title and interest in
and to any and all governmental approvals and development rights, redevelopment
rights, certificates of necessity, rights under any condemnation proceedings,
tax abatements, development plans and any and all rights under the Development
Plan, the First Amended Plan and the Redevelopment Contract which
Grubarges-Kansas City, L.L.C. now owns or to which in the future
Grubarges-Kansas City, L.L.C. may become entitled to.
Section 3. For
and with respect to the Development Plan, the First Amended Plan and the
Redevelopment Contract, the full rights with respect thereto shall be vested in
Main Street Partners Redevelopment Corporation, including the rights to further
amend the Development Plan and enter into any supplementary contracts to the
Redevelopment Contract for and with respect to the Redevelopment Area.
Section 4. That Grubarges-Kansas City, L.L.C. is hereby released and discharged of its rights and
obligations with respect to the Redevelopment Contract, for the property
legally described above in Section 1, accruing after the effective date of this
ordinance. Grubarges-Kansas City, L.L.C. is not released from any liability for
actions prior to the effective date of this ordinance.
Section 5. That
the Director of Finance is hereby authorized to execute the Assignment and
Assumption Agreement, attached hereto, with Grubarges-Kansas City, L.L.C. and Main Street Partners Redevelopment Corporation.
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Approved as to form and legality:
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Heather A. Brown
Assistant City Attorney