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Legislation #: 080850 Introduction Date: 8/21/2008
Type: Ordinance Effective Date: 9/21/2008
Sponsor: None
Title: Authorizing the Director of City Development to enter into a Termination of Deferral Agreement and Release of Letter of Credit for sidewalk and streetscape improvements in the plat of Town Pavilion and authorizing the City Clerk to record this ordinance and attached documents.

Legislation History
DateMinutesDescription
8/20/2008 Filed by the Clerk's office
8/21/2008 Referred to Planning and Zoning Committee
9/3/2008 Do Pass
9/4/2008 Add to Consent Docket
9/11/2008 Passed

View Attachments
FileTypeSizeDescription
080850C.pdf Exhibit 1102K TERMINATION OF DEFERRAL AGREEMENT
080850.pdf Exhibit 949K recorded
080850.pdf Authenticated 74K Authenticated
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=080540 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=080540
Town Pavilion-Release LOC.doc Agreement 882K Agreement/Exhibits
Town Pavilion.xls Fact Sheet 104K Fact Sheet

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ORDINANCE NO. 080850

 

Authorizing the Director of City Development to enter into a Termination of Deferral Agreement and Release of Letter of Credit for sidewalk and streetscape improvements in the plat of Town Pavilion and authorizing the City Clerk to record this ordinance and attached documents.

 

WHEREAS, Ordinance No. 071088, passed by Council on October 18, 2007, as described on Exhibit A attached hereto and incorporated herein by reference, required Developer to enter into a Secured Deferral Agreement (Deferral), as described on Exhibit B attached hereto and incorporated herein by reference, wherein the City and Developer agreed to defer the construction of Public Sidewalk and Streetscape Improvements (Improvements) across the frontage of the plat known as Town Pavilion (Plat), until such time as a Cooperative Agreement (Agreement) could be executed between the Developer and the Capital Improvements Management Office (CIMO); and

 

WHEREAS, in conjunction with the Deferral, Developer posted with the City an Irrevocable Standby Letter of Credit No. 200209115, dated December 4, 2007, as described on Exhibit C, attached hereto and incorporated herein by reference; and

WHEREAS, Ordinance No. 080501, passed by Council on May 29, 2008, as described on Exhibit D attached hereto and incorporated herein by reference, authorized the City to enter into a Cooperative Agreement with the Developer for construction of the Improvements; and

 

WHEREAS, CIMO has awarded a construction contract under Project No. 64008053 for construction of the Improvements in connection with the development of the Plat as described on Exhibit E, attached hereto and incorporated herein by reference; and

WHEREAS, the award of the construction contract by CIMO satisfies the Developers obligation for participation in construction of the Improvements under the Deferral and the Agreement; and

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of City Development is hereby authorized to enter into a Termination of Deferral Agreement and to release the Letter of Credit for Public Improvements.

 

Section 2. That the City Clerk is hereby directed to record copies of this ordinance, together with the Termination of Deferral Agreement in the Office of the Recorder of Deeds of Jackson County, Missouri.

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Approved as to form and legality: 

 

 

___________________________________

Sarah Baxter

Assistant City Attorney