ORDINANCE NO. 060964

Accepting a special warranty deed from the Tax Increment Financing Commission of Kansas City, Missouri, for certain property in connection with the Kansas City Live downtown redevelopment project; authorizing the City Manager to execute an assignment accepting certain rights and obligations in connection with said property; directing the City Clerk to record this ordinance and the assignment authorized herein in the Office of the Recorder of Deeds of Jackson County, Missouri.

WHEREAS, the Tax Increment Financing Commission of Kansas City, Missouri, (the Commission) and the City entered into a Cooperative Agreement by and among the City of Kansas City, Missouri, Economic Development Corporation of Kansas City, Missouri, and Tax Increment Financing Commission of Kansas City, Missouri (Cooperative Agreement), to effectuate the obligations of the City under that certain Master Development Agreement dated April 27, 2004, as amended, by and between the City and Kansas City Live, LLC, regarding development of the 1200 Main/South Loop tax increment financing district established in the 1200 Main/South Loop Tax Increment Financing Plan dated January 14, 2004, as amended (District); and

WHEREAS, pursuant to the Cooperative Agreement, the Commission performed certain real estate acquisition and conveyance responsibilities and it is now necessary for the Commission to convey to City the remaining property in the District which is owned by Commission (the Property) and to assign and set over to City (except with respect to the rights and obligations of Commission created in the 1200 Main/South Loop Tax Increment Financing Plan dated January 14, 2004, as amended) all of Commissions rights and obligations under any documents and agreements, which were entered into by Commission with respect to the Property as an owner thereof; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY, MISSOURI:

Section 1. That the special warranty deed in Kansas City, Jackson County, executed by the Tax Increment Financing Commission of Kansas City, Missouri, and which appears of record as Instrument No. 2006E0083705 and recorded in the office of the Recorder of Deeds for Jackson County, Missouri, and described as follows:

TRACT 1: (BLOCK 110): UNIT 1, BLOCK 110, REPLAT OF REPLAT OF K.C. LIVE, a condominium subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof.

TRACT 2: (BLOCK 124): UNIT 1, BLOCK 124, REPLAT OF K.C. LIVE, a condominium subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof.

TRACT 3: (BLOCK 126): UNIT 1, BLOCK 126, REPLAT OF K.C. LIVE, a condominium subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof.

TRACT 4: (BLOCK 138): UNIT 1, BLOCK 138, REPLAT OF K.C. LIVE, a condominium subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof.

TRACT 5: (BLOCK 139): UNIT 1, BLOCK 139, REPLAT OF K.C. LIVE, a condominium subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof.

TRACT 6: (BLOCK 140): UNIT 1, BLOCK 140, REPLAT OF K.C. LIVE, a condominium subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof.

is hereby accepted.

Section 2. That the City Manager is authorized to execute an assignment accepting certain rights and obligations in connection with the property described in Section 1 (the Assignment). The Assignment is approved in substantial form as that on file in the office of the City Manager.

Section 3. That upon the effective date of this ordinance, the City Clerk is hereby directed to cause this ordinance and the Assignment to be recorded in the office of the Recorder of Deeds for Jackson County, Missouri.

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Approved as to form and legality:

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Heather A. Brown

Assistant City Attorney