ORDINANCE
NO. 190938
Estimating revenue and
appropriating $5,450,000.00 in Fund No. 3439, the 2020A Taxable Special
Obligation Bond Fund; designating requisitioning authority to the Director of
General Services and the Director of Finance; authorizing the purchase of
property at 1200 and 1210 Broadway, Kansas City, Missouri; authorizing the
Director of Finance to close project accounts; declaring the intent of the City
to reimburse itself from the bond proceeds for certain expenditures; and
recognizing this ordinance as having an accelerated effective date.
WHEREAS, the City Council recognizes and
acknowledges the need to reconstruct the Auditorium Plaza Garage and directed
the City Manager to incorporate costs to design and build a new parking and
event facility on this site into the 2018-2019 City Budget through passage of
Resolution No. 180768; and
WHEREAS, the Auditorium Plaza Garage provides
proximate, accessible parking for the Kansas City Convention Center and
surrounding City facilities; and
WHEREAS, it is necessary that the City provide
parking facilities in support of the Convention Center while Barney Allis Plaza
is reconstructed; and
WHEREAS, the City Council passed Ordinance No.
190443 on July 18, 2019, which appropriated funds for an Owner’s Representative
for the programming, design and reconstruction of the Auditorium Plaza Garage
and the Barney Allis Plaza Event Space and expenses associated with that work;
and
WHEREAS, the City Manager retained the broker
services of Cushman Wakefield to identify and negotiate the acquisition of
alternative property to facilitate the reconstruction and reutilization of the
Auditorium Plaza Garage and the Barney Allis Plaza Event Space, and potentially
provide replacement parking and other facilities supporting the municipal
convention facilities; and
WHEREAS, alternative property located at 1200
and 1210 Broadway has been identified, and the existing owners thereof have
agreed to sell the property to the City, that could house such alternative
facilities, contingent upon the City Council affirming and approving such Real
Estate Sale Contract, and authorizing the Director of General Services, or his
designee, to complete the due diligence upon the Property and if appropriate
proceed with such acquisition; and
WHEREAS, the payment of scheduled debt service
payments on the 2020A Taxable Special Obligation Bonds will be made by annual
appropriation of monies from the City’s General Municipal Revenues over a
successive ten (10) year period; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the revenue in the following account of Fund No.
3439, the 2020A Taxable Special Obligation Bond Fund, is hereby estimated in
the following amount:
AL-3439-120000-590000
Proceeds from Sale of Bonds $5,450,000.00
Section 2. That
the sum of $5,450,000.00 is hereby appropriated from the Unappropriated Fund
Balance of Fund No. 3439, the 2020A Taxable Special Obligation Bond Fund, to
the following accounts:
AL-3439-078027-B- 07P20003 Land
Acquisition $5,400,000.00
AL-3439-129620-B Cost of
Issuance 50,000.00 TOTAL
$5,450,000.00
Section 3. That the Director of General Services is hereby
designated as requisitioning authority for Account No. AL-3439-078027, and the
Director of Finance is designated as the requisitioning authority for Account
No. AL-3439-129620.
Section 4.
That the Director of the General Services Department, or his designee, is
hereby authorized to implement on behalf of the City the Real Estate Sale
Contract in the form of Exhibit A attached hereto (“Contract”), with the
express authorization given to such Director to modify, amend, and extend the
terms and conditions of such Contract as deemed appropriate by the Director due
to circumstances determined to exist, including accounting for due diligence as
to environmental and title conditions, if any, for the purchase of real
property comprising the Property, and legally described below as:
TRACT 1: Lots 1, 2,
3, 4, and 5, Block 1, Broadway Addition, a subdivision in Kansas City, Jackson
County, Missouri, according to the recorded plat thereof.
TRACT 2: All that
part of Block 1, Lykins Place addition, a subdivision and part of 5 foot strip
"left for alley'' in Broadway Addition, a subdivision 'all in Kansas City,
Jackson County, Missouri, described as follows: Beginning at a point in the
south line of 12th Street, as now established, 155 feet west of the northeast
corner of Lot 1, Block 1, of said Broadway Addition; thence south 127 feet 10
inches; thence east 35 feet to the east line of said strip "left for
alley''; thence north along said east line 127 feet 10 inches to the south line
of said 12th Street; thence west along said south line to the point of
beginning.
TRACT 3: Lot 6, and
the north 13 feet 3 inches of Lot 7, Block 1, Broadway Addition, a subdivision
in Kansas City, Jackson County, Missouri; also that part of Block 1, Lykins
Place Addition to the City of Kansas, a subdivision in Kansas City, Jackson
County, Missouri, and all that part of a 5 foot strip of land lying west of and
adjacent to the west line of said Block 1, Broadway Addition, all being more
particularly described as follows: Beginning at a point 120 feet west of the
northeast corner of said Lot 6, Block 1, Broadway Addition, thence west 35
feet; thence south 36 feet 6 inches; thence east 35 feet; thence north to the
point of beginning.
TRACT 4: The south
10.75 feet of Lot 7, Lot 8, and the north 7.75 feet of Lot 9, Block 1, Broadway
Addition, a subdivision in Kansas City, Jackson County, Missouri; also that
part of Lot 10, Aldine Place, a subdivision of land, that part of Block 1,
Lykins Place addition to the City of Kansas, a subdivision in Kansas City,
Jackson County, Missouri, and that part of a 5 foot strip of land lying west of
and adjacent to the west line of said Block 1, Broadway Addition, all being
more particularly described as follows: Beginning at a point that is 120 feet
west of a point located 7.5 feet south of the southeast corner of Lot 8 of
Block 1 of Broadway Addition, thence west 60 feet to the west line of said Lot
10, Aldine Place; thence north with the west line of said Lot 10, Aldine Place,
to the north line of said Lot 10; thence east with the north line of said Lot
10, Aldine Place, to the west line of Block 1 of Lykins Place Addition; thence
north with the west line of Block 1 of Lykins Place Addition, to a point
located on the said west line of Block 1 of Lykins Place Addition, located 164
feet 4 inches south of the south line of 12th Street, as now established;
thence east to a point on the west line of said Lot 7, Block 1, Broadway
Addition which is 10.75 feet north of the southwest corner of said Lt 7, Block
1, Broadway Addition; thence south to the point of beginning.
TRACT 5: Lot 9,
except the north 7.75 feet thereof, and all of Lots 10 through 13, inclusive,
Block 1, Broadway Addition to Kansas City (hereinafter referred to and more
commonly known as Broadway Addition), a subdivision in Kansas City, Jackson
County, Missouri, according to the recorded plat thereof; also, all that part
of Lot 10, Aldine Place, a subdivision in Kansas City, Jackson County,
Missouri, according to the recorded plat thereof, which lies south of the
westerly projection of a line lying 7.5 feet south of and parallel to the north
line of said Lot 9, Block 1, Broadway Addition; also, all that part of the 5
foot wide strip of land "left for alley" in said Broadway Addition,
and all that part of Block 1, Lykins Place Addition, a subdivision in Kansas
City, Jackson County, Missouri, according to the recorded plat thereof, which
lie north of the westerly projection of the south line of said Lot 11, Block 1
Broadway Addition, and east of the east line of said Lot 10, Aldine Place, and
south of the westerly projection of a line lying 7.75 feet south of, and
parallel to, the north line of said Lot 9, Block 1, Broadway Addition, and west
of the west line, projected north and south, of Lot 10, Block 1 of said
Broadway Addition
Collectively, the Tracts 1-5, are referred to as “Property.”
Section 5. That the Director of General Services is
hereby authorized to cause the necessary due diligence for determining the
feasibility of using the Property for the municipal purposes, and the
preparation, completion and execution of all closing documentation contemplated
by such Contract for the benefit and execution by the City. Director of the
General Services Department, or his designee, is hereby authorized to execute
all closing and other documents related to the acquisition of the Property.
Section 6. It is
specifically contemplated as a part of the Contract authorized in Section 5,
that the acquisition of the Property pursuant will be completed after receipt
and evaluation of: 1) appropriate environmental site assessments, and 2)
projections to utilize the Property for municipal facilities.
Section 7. The
Director of Finance is hereby authorized to close project accounts,
encumbrances, and retainage related to the accounts in Section 2, and return
the unspent portion to the Fund Balance from which it came upon the earliest
of: (i) the Property’s acquisition; (ii) final maturity of financing; or (iii)
five years after issuance.
Section 8.
That the City hereby declares its official intent to reimburse itself for
certain expenditures made within sixty (60) days prior to or on and after the
date of this ordinance with respect to the appropriations listed in Section 2
(the “Appropriations”) with the proceeds of bonds expected to be issued by the
City. The maximum principal amount of bonds expected to be issued for the
Appropriations shall not exceed $5,450,000.00. This constitutes a declaration
of official intent under Treasury Regulation Section 1.150-2.
Section 9. That this ordinance, relating to the design, repair,
maintenance or construction of a public improvement and appropriating money, is
recognized as an ordinance with an accelerated effective date as provided by
Section 503(a)(3) of the City Charter and shall take effect in accordance with
Section 503, City Charter.
_____________________________________________________
I hereby certify that there is a balance, otherwise unencumbered, to the
credit of the appropriation to which the foregoing expenditure is to be
charged, and a cash balance, otherwise unencumbered, in the treasury, to the
credit of the fund from which payment is to be made, each sufficient to meet
the obligation hereby incurred.
_____________________________
Tammy
L. Queen
Director
of Finance
Approved
as to form and legality:
_____________________________
Amelia
McIntyre
Assistant
City Attorney