RESOLUTION NO. 061080
Stating the Councils intent to provide funding for
certain infrastructure improvements in connection with the application to the
Missouri Development Finance Board for Midwest Research Institute expansion and
renovation in the approximate amount of $530,000.00, and directing the City
Manager to identify a source of public funding for this request.
WHEREAS, the Council has approved the
submission of an application by the City to the Missouri Development Finance
Board for tax credits in the amount of $4,000,000.00 to assist with an
expansion and renovation project at Midwest Research Institute (the
"Project"); and
WHEREAS, the Project will result in a first
phase investment totaling approximately $24 million and will result in the
creation of approximately 150 new jobs, in the City; and
WHEREAS, in connection with the Project,
Midwest Research Institute has requested that the City construct certain
necessary or desirable infrastructure improvements, consisting of curb, gutter
and street improvements surrounding Midwest Research Institute, the creation of
a left turn lane from eastbound Volker Boulevard onto southbound Oak Street,
and certain other public infrastructure improvements, at an estimated cost of
approximately $530,000.00; and
WHEREAS, in connection with the application to
the Missouri Development Finance Board for tax credits, the Missouri
Development Finance Board requests that the local governmental authority
provide financial support towards the completion of the Project, and the City
Council wishes to demonstrate to the Missouri Development Finance Board its
intent to identify sources of funds for the City to complete the infrastructure
improvements requested by Midwest Research Institute; NOW, THEREFORE,
BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the Council hereby expresses
its intent to identify sources of funding for infrastructure improvements
consisting of curb, gutter and street improvements surrounding Midwest Research
Institute, the creation of a left turn lane from eastbound Volker Boulevard
onto southbound Oak Street, and certain other public infrastructure
improvements, at an estimated cost of approximately $530,000.00, and to include
appropriations for the requested infrastructure improvements in the Citys budgets
for the next 2 fiscal years.
Section 2. That the City Manager is
authorized and directed to identify sources of funding for the requested
infrastructure improvements under the terms of this resolution.
_________________________________________