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Legislation #: 121039 Introduction Date: 12/13/2012
Type: Ordinance Effective Date: 12/30/2012
Sponsor: COUNCILMEMBER CURLS AND COUNCILMEMBER REED
Title: Authorizing the City Manager to execute certain documents with the Tax Increment Financing Commission, AI Redevelopment Corporation and Aldi Inc. (Kansas), related to the acquisition of property in connection with the 39th _ Prospect TIF Plan.

Legislation History
DateMinutesDescription
12/11/2012 Filed by the Clerk's office
12/13/2012 Referred to Planning, Zoning & Economic Development Committee
12/19/2012 Advance and Do Pass, Debate
12/20/2012 Passed

View Attachments
FileTypeSizeDescription
121039.pdf Authenticated 1042K Authenticated
Ordinance Fact Sheet ALDI.pdf Fact Sheet 115K factsheet
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=121039 Website Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=121039
Parent Guaranty.doc Other 58K parent guaranty

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ORDINANCE NO. 121039

 

Authorizing the City Manager to execute certain documents with the Tax Increment Financing Commission, AI Redevelopment Corporation and Aldi Inc. (Kansas), related to the acquisition of property in connection with the 39th & Prospect TIF Plan.

 

WHEREAS, on December 14, 2006, the City Council approved the 39th & Prospect TIF Plan by Ordinance No. 061319; and

 

WHEREAS, on April 5, 2007, the City Council reaffirmed its findings in Ordinance No. 061319, made new findings for the authorization of the exercise of eminent domain as required by Section 523.274.1, RSMo, and designated Project Area No. 1 (the “Redevelopment Project”) by Committee Substitute for Ordinance No. 070335; and

 

WHEREAS, AI Redevelopment Corporation (the “Redeveloper”), as an agent for the City, initiated condemnation proceedings for property the acquisition of which was required for the Redevelopment Project (the “Property”); and

 

WHEREAS, on August 5, 2008, the Circuit Court of Jackson County, Missouri entered an order of condemnation for the Property; and

 

WHEREAS, the consideration directed by the Court to be paid to the owners of the Property was paid by the Redeveloper and satisfaction of such judgment has been filed of record; additionally, the Redeveloper paid additional amounts to said owners in exchange for quitclaim deeds that have been recorded and the Redeveloper paid all of the costs and expenses associated with said condemnation and quitclaim deeds; and

 

WHEREAS, the Commission and Redeveloper, subject to the term of a Funding and Acquisition Agreement, desire to acquire City’s interest in the Property arising from the condemnation to facilitate the implementation of the Redevelopment Project, which shall consist of the construction of an approximately 15,950 square foot grocery store accompanied by surface parking and other improvements; and

 

WHEREAS, Aldi Inc. (Kansas), as parent to its affiliate, Redeveloper, has agreed to guarantee performance by the Redeveloper in connection with the implementation of the Redevelopment Project, including the Funding and Acquisition Agreement; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 


Section 1. That the City Manager is authorized to execute, on behalf of the City, a Funding and Acquisition Agreement and a Parent Guaranty. Such agreements are approved in substantial form as that which are on file in the office of the director of the City Development Department.

 

_________________________________________

 

Approved as to form:

_______________________________

Brian Rabineau

Assistant City Attorney