COMMITTEE
SUBSTITUTE FOR ORDINANCE NO. 160950
Authorizing the City Manager to execute a cooperative
agreement with the Kansas City Area Transportation Authority and Briarcliff
Development Company with respect to the development of property located at 3rd
and Grand.
WHEREAS, the Kansas City Area Transportation Authority (“
KCATA”), with the assistance of the Downtown Council, solicited proposals for
the development of land currently owned by KCATA and located at 3rd and Grand
(“Property”), and selected Briarcliff Development Company (“Briarcliff”) as the
developer of the Property; and
WHEREAS, the improvements to be constructed on the Property
include (a) two (2) 150,000 square foot office towers; (b) a multi-modal
transportation hub, public plaza and associated pedestrian connections which
would provide an exchange and transfer point for the streetcar, local MAX bus
lines, bike share stations and a potential future commuter rail; (c) an
estimated 900 stall parking structure to be built and financed by KCATA, with
residential, office and/or retail property to be wrapped around or adjoined to
the garage in the future; and (d) up to 10,000 square feet of ground level
retail (collectively, the “Project”); and
WHEREAS, the KCATA and Developer anticipate that the
Project might warrant their requesting certain economic incentives from the
City and its economic development agencies; and
WHEREAS, the City currently leases the Property from the
KCATA and uses it for surface parking purposes; and
WHEREAS, the City, as both a tenant of the Property to be
developed and a potential source of funding for the Project, has an interest in
the development of the Property; NOW, THEREFORE;
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the City Manager is hereby authorized to
execute a cooperative agreement with the KCATA and Developer for the purpose of
establishing the general framework for the anticipated construction and
financing of the Project as defined herein. The cooperative agreement is
approved in substantial form as attached hereto.
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Approved as to form and
legality:
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Brian T. Rabineau
Assistant City Attorney