ORDINANCE NO. 180083
Authorizing the City Manager to
execute a Pre-Development Agreement with McCown Gordon Construction, LLC, that
contemplates the issuance of Chapter 100 bonds and extension of sales tax
exemption in connection with an economic development effort.
WHEREAS, McCown Gordon Construction, LLC (the “Company”)
anticipates renovating and expanding an office building for use as its
headquarters, which project includes the renovation of approximately 43,000
square feet of existing office space and the construction of an additional
6,500 square feet of new office space so that, once completed, the improvements
will result in a 4-story, 49,500 square-foot Class A office building at the
corner of 9th Street and Main Street in Kansas City, Missouri (the “Property”);
and
WHEREAS, the Project serves a public purpose in that it
will promote economic development in the City and serve as a catalyst for
additional investment and development; and
WHEREAS, the Project will result in an expansion of the
Company's economic presence in the City, the creation of new jobs in the City
and the Company's investment in the Project serves a public purpose by
furthering the City's policy of encouraging economic stability and growth; and
WHEREAS, Chapter
100 bonds are contemplated, as part of an overall incentive package, to make
the renovation and expansion of the Property economically viable; and
WHEREAS, the Property is anticipated to be owned by the
City and leased to the Company under the contemplated Chapter 100 transaction;
and
WHEREAS, the Company wishes to begin purchasing materials
to be used or consumed in constructing the buildings to be located on the
Property (the “Construction Materials”) and has agreed to advance to the City
the funds needed to begin purchasing, on the City’s behalf, the Construction
Materials for the improvement of the Property; and
WHEREAS, the retail sales of the Construction Materials to
be used, consumed and otherwise incorporated into the Real Property are exempt
from sales and use taxes pursuant to Section 144.062.1, RSMo; NOW, THEREFORE,
BE IT ORDAINED
BY THE COUNCIL OF KANSAS CITY:
Section 1. That
the City Manager is hereby authorized to execute a Pre-Development Agreement
with McCown Gordon Construction, LLC that contemplates the issuance of Chapter
100 bonds upon the City Council’s subsequent approval of a Chapter
100 Plan, and authorizes sales
tax exemption with respect to the purchase of construction materials.
_____________________________________________
Approved
as to form and legality:
___________________________________
Brian
T. Rabineau
Assistant City Attorney