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Legislation #: 060971 Introduction Date: 8/31/2006
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER XBARNES
Title: Approving the change in management for the 13th and Wyandotte Hotel Redevelopment Project; and authorizing execution and delivery of any necessary documents and certificates in regard to the change.

Legislation History
DateMinutesDescription
8/31/2006 Filed by the Clerk's office
8/31/2006 Referred to Finance and Audit Committee
9/6/2006 Advance and Do Pass, Debate
9/7/2006 Passed

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060971.pdf Authenticated 83K Authenticated

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ORDINANCE NO. 060971

Approving the change in management for the 13th and Wyandotte Hotel Redevelopment Project; and authorizing execution and delivery of any necessary documents and certificates in regard to the change.

WHEREAS, in conjunction with the 13th and Wyandotte Hotel Redevelopment Project on April 1, 1996, the Land Clearance for Redevelopment Authority (the "Authority") issued $15,110,000.00 its taxable leasehold revenue bonds (the "Bonds") in support of renovations and improvements to the then Americana Hotel (the "Hotel Project") at 13th and Wyandotte Streets in downtown Kansas City, Missouri (the "City"); and

WHEREAS, the City through a Financing Agreement in conjunction with the Hotel Project provided its annual appropriation pledge as security for the Bonds; and

WHEREAS, both the Hotel Project's Cooperative Agreement and the Operating Lease for the Bonds require the City's consent for any changes in the management; and

WHEREAS, the City has previously approved changes in the hotel's management to Boykin Lodging Company; and

WHEREAS, Boykin has entered into a merger agreement to be acquired by Braveheart Holdings, L.P. ("Braveheart"), an affiliate of Westmont Hospitality Group and its partners and Cadim, Inc., a division of Caisse de depot et placement du Quebec; and

WHEREAS, the City Manager and City Council have reviewed this request and agree to approve the proposed change in management of the Hotel Project; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Council hereby approves the change in the management of the 13th and Wyandotte Hotel Redevelopment Project from Boykin Lodging Company to Westward Hospitality Management Inc., (a company that has been formed specifically to operate the Braveheart hotels) and authorizes the City Manager to execute all documents and certificates required to accomplish the approved change.

 

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Approved as to form and legality:

 

 

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Heather A. Brown

Assistant City Attorney