ORDINANCE NO. 050079

Approving the assignment of certain development rights with respect to the redevelopment project located on about 22 acres generally located on the west side of Southwest Boulevard between 25th Street and 27th Street, as described within Case No. 483-S-3 and known as the Output Technology complex, and Westside Industrial "353" (Phases one and two) (the Redevelopment Project); releasing Westside Industrial Redevelopment Corporation as it relates to those certain development rights and authorizing execution of an Assignment and Assumption Agreement with Westside Industrial Redevelopment Corporation and Westside Industrial Park, L.L.C. (Case No. 483-S).

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

WHEREAS, Westside Industrial Redevelopment Corporation, an urban redevelopment corporation of Missouri, organized under and pursuant to the Urban Redevelopment Corporation Act of 1945, as amended (Westside Redevelopment), did file with the City Clerk an application for approval of the Redevelopment Plan (the Development Plan) which was approved by the City Council of Kansas City, Missouri (the City Council) by Ordinance No. 960504, passed June 6, 1996, and a redevelopment contract was executed on December 23, 1998, between the City of Kansas City, Missouri (the City) and Westside Redevelopment (the Contract); and

WHEREAS, Westside Redevelopment did file a First Amendment to the Development Plan which was approved by the City Council by Ordinance No. 011001 (the First Amended Plan), passed August 2, 2001, and the First Amendment to the Redevelopment Contract was executed on October 30, 2001 (the First Amended Contract) (the Contract as amended by the First Amended Contract shall hereinafter be referred to as the Redevelopment Contract); and

WHEREAS, on November 25, 2003, the City Council passed Resolution No. 031273 authorizing the City Development Department to issue a Certificate of Completion to the Westside Industrial 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 1 and Phase 2 of the Westside Redevelopment Project and the Certificate of Completion was issued on April 22, 2004; and

WHEREAS, Westside Industrial Redevelopment Corporation provided notice to the City that the Redevelopment Project had been sold and transferred by Westside Industrial Redevelopment Corporation, to Westside Industrial Park, L.L.C., and that Westside Industrial Redevelopment Corporation desired to assign and transfer its rights and obligations under the Development Plan, as amended and the Redevelopment Contract to Westside Industrial Park, L.L.C., pursuant to an Assignment and Release Agreement; NOW, THEREFORE,

BE IT ORDAINED BY THE CITY COUNCIL OF KANSAS CITY:

Section 1. That the assignment of Westside Industrial Redevelopment Corporation to Westside Industrial Park, L.L.C., of all of its rights, title, obligations and interest under the Redevelopment Contract as it affects certain property legally described as:

Lot 1, Westside Business Park, as stated in Ordinance No. 020354 filed for record on August 31, 2002, Document No. 2002K0050485.

is hereby approved. A copy of said Assignment and Release Agreement, is attached hereto and incorporated herein by reference.

Section 2. The City accepts and acknowledges Westside Industrial Park, L.L.C. as the assignee of Westside Industrial Redevelopment Corporation'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 Westside Industrial Redevelopment Corporation now owns or to which in the future Westside Industrial Redevelopment Corporation 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 Westside Industrial Park, L.L.C., 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 Project.

Section 4. That Westside Industrial Redevelopment Corporation 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. Westside Industrial Redevelopment Corporation 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 Westside Industrial Redevelopment Corporation.

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Approved as to form and legality:

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Heather A. Brown

Assistant City Attorney