ORDINANCE NO. 941273, AS AMENDED

Authorizing the City Manager to execute a Reimbursement Agreement between the City of Kansas City, Missouri, and M.D. Management, Inc., to facilitate the construction of the Barry Road Bridge over 169 Highway.

WHEREAS, the property located at the northwest quadrant of Barry Road and 169 Highway has remained vacant and undeveloped even though nearby property has been fully developed for some time; and

WHEREAS, certain public improvements must be constructed and area necessary to fully enhance the commercial development of the property generally surrounding the intersection of Barry Road and 169 Highway; and

WHEREAS, M.D. Management, Inc. ("Developer") has applied to the City to subdivide, rezone and develop certain property generally located at the northwest quadrant of Barry Road and 169 Highway (the "Development"); and

WHEREAS, to further the development of the City and mitigate future potential traffic problems, it is appropriate to construct a new bridge over 169 Highway at Barry Road; and

WHEREAS, the control of the right-of-way over 169 Highway is under the State of Missouri; and

WHEREAS, neither the City nor the State is in a position to currently provide the funds necessary for the construction of the Barry Road Bridge over 169 Highway; and

WHEREAS, the construction of the Development will increase sales tax, property tax and other tax revenues to the City, create additional employment, increase retail competition and in general enhance the economy and welfare of the City and its residents; and

WHEREAS, the construction of the Barry Road Bridge over 169 Highway will promote the general health, safety and welfare of the citizens of Kansas City, Missouri; and

WHEREAS, the construction of the Barry Road Bridge over 169 Highway will further and promote a public purpose; and

WHEREAS, Developer desires to finance and construct the Barry Road Bridge over 169 Highway to the City subject to the approval of the Missouri Highway and Transportation Commission ("Commission"); and

WHEREAS, to implement the Developer's and City's goals regarding the construction and sale of the Barry Road Bridge over 169 Highway, the City and Developer wish to enter into a Reimbursement Agreement which sets forth the respective rights, duties and obligations of both the Developer and the City subject to approval of the Commission; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the City Manager is hereby authorized to enter into the Reimbursement Agreement, a copy of which is attached hereto labeled as Exhibit "A" and incorporated herein by reference. Such agreement is contingent upon requirements of the Missouri Highway and Transportation Commission. Provided, further, the City Manager shall not execute the Reimbursement Contract until such time as M.D. Management, Inc., has exhausted its efforts to establish a Tax Increment Financing Plan for the area generally west of 169 Highway along Barry Road after using due diligence, regardless of the action by the Tax Increment Financing Commission or City Council to approve the Plan or subsequent litigation thereon.

Section 2. That the Council of Kansas City hereby finds and declares that the construction of the Barry Road Bridge over Highway 169 will promote the general health, safety and welfare of the citizens of Kansas City, Missouri, and will promote a public purpose.

Section 3. Subject to annual appropriation, the City shall utilize the increased City sales tax and earnings tax generated by operations and activities within the Development to pay the installment payments pursuant to the Reimbursement Agreement.

_____________________________________________

Approved as to form and legality:

___________________________________

City Attorney