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.
_____________________________________________
Approved
as to form and legality:
___________________________________
Heather
A. Brown
Assistant City Attorney