COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 080038

Authorizing the Director of Finance to enter into a Sixth Supplementary Contract with Wild Hawk, L.L.C., to modify the tax abatement for Phase IIA and approve the Assignment of the Development Rights to Same. 

WHEREAS, the Front Street and 435 Redevelopment Corporation, an urban redevelopment corporation of Missouri, organized under and pursuant to the Urban Redevelopment Corporations Act of 1945, as amended, on July 29, 1987, filed with the City Clerk an application for approval of a development plan which was approved by Ordinance No. 61632, passed October 2, 1987; and 

WHEREAS, the Front Street and 435 Redevelopment Corporation filed its First Amendment to the Development Plan which was approved by Ordinance No. 62985, passed September 8, 1988; and 

WHEREAS, the Front Street and 435 Redevelopment Corporation filed its Second Amendment to the Development Plan which was approved by Ordinance No. 65496, passed May 17, 1990; and 

WHEREAS, the Front Street and 435 Redevelopment Corporation filed its Third Amendment to the Development Plan which was approved by Ordinance No. 921109, passed October 15, 1992; and 

WHEREAS, the Front Street and 435 Redevelopment Corporation filed its Fourth Amendment to the Development Plan which was approved by Ordinance No. 961262, passed October 17, 1996; and

  WHEREAS, the Front Street and 435 Redevelopment Corporation filed its Fifth Amendment to the Development Plan on August 31, 2000 which was approved by Ordinance No. 010017, passed February 15, 2001; and 

WHEREAS, Wild Hawk, L.L.C has requested the approval of the assignment of the Development Rights to Phase IIa of the Development Plan, as amended to facilitate the development of said Phase; and

WHEREAS, Wild Hawk, L.L.C. has requested an amendment to the Contract to modify the tax abatement for Phase IIa which will facilitate the subsequent filing of an amendment to the Urban Redevelopment (URD) zoning and an amendment to the Development Plan for the development of Phase IIa therein; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Sixth Supplementary Contract between the City and Wild Hawk, L.L.C., a copy of which is on file in the office of the City Clerk with this ordinance, and which is hereby incorporated by reference, is approved as the Sixth Supplementary Contract. 

Section 2. That the Council hereby finds and declares that good cause has been shown for the approval of said Sixth Supplementary Contract for Wild Hawk, L.L.C.

Section 3. That the Director of Finance is hereby, authorized and directed on behalf of the City to enter into a Sixth Supplementary Contract with Wild Hawk, a copy of which in substantial form is attached hereto and incorporated herein by reference. Prior to execution, Wild Hawk, L.L.C. shall file all annual reports required by the contract and previous supplementary contracts for Phase IIa only of the Development Plan, in such form as approved by the Director of Finance. In addition the Sixth Supplementary Contract shall contain a clawback provision requiring that Wild Hawk, L.L.C. maintain 138 full time employees. In addition, the Sixth Supplementary Contract shall be contingent upon the filing by Wild Hawk, L.L.C. of applications to amend the URD and the Redevelopment Plan to cause them to conform to the schedule changes in the Sixth Supplementary Contract within 30 days of the passage of this ordinance.

_______________________________________________________

Approved as to form and legality:

  _______________________________

Heather A. Brown

Assistant City Attorney