COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 000297, AS AMENDED

Approving the assignment of certain development rights with respect to Phase 2 of the Brush Creek Redevelopment Project by Jefferson At The Plaza Redevelopment Corporation to Sailors Plaza, LLC; releasing Jefferson At The Plaza Redevelopment Corporation as it relates to those certain development rights; and providing for the effective date.

WHEREAS, the Brush Creek Redevelopment Corporation, an urban redevelopment corporation of Missouri, organized under and pursuant to the Urban Redevelopment Corporation Act of 1945, as amended, did file with the City Clerk an application for approval of the Development Plan which was approved by the City Council by Ordinance No. 59071, as amended, passed March 7, 1986, and confirmed by the voters at a general election on August 5, 1986, and said ordinance also authorized a contract between the City and Brush Creek Redevelopment Corporation (hereinafter referred to as Redevelopment Contract); and

WHEREAS, Brush Creek Redevelopment Corporation did file a First Amendment to the Development Plan and the First Amendment was approved by the City Council by Ordinance No. 61183, passed June 25, 1987; and

WHEREAS, Brush Creek Redevelopment Corporation did file a Second Amendment to the Development Plan and the Second Amendment was approved by the City Council by Ordinance No. 65014, passed December 28, 1989; and

WHEREAS, the Director of Finance was authorized to execute a Second Supplement to the Redevelopment Contract pursuant to the second amendment to development plan approval; and

WHEREAS, Brush Creek did assign and transfer certain development rights with respect to Phase 2 of the Development Plan to Jefferson At The Plaza Redevelopment Corporation, an urban redevelopment corporation of Missouri, organized under and pursuant to the Union Redevelopment Corporation Act of 1945, as amended, and said assignment was approved by the City Council by Ordinance No. 970327, passed on April 10, 1997; and

WHEREAS, Jefferson At The Plaza Redevelopment Corporation did file a Third Amendment to the Development Plan and the Third Amendment was approved by the City Council by Ordinance No. 970327, passed on April 10, 1997; and

WHEREAS, the Director of Finance was authorized to execute a Third Supplement to the Redevelopment Contract pursuant to the Third Amendment to the Development Plan approval, hereinafter referred to as Third Supplemental Contract; and

WHEREAS, Jefferson At The Plaza Redevelopment Corporation conveyed fee title to all of the Phase 2 property to Jefferson At The Plaza, L.P., by deed dated July 28, 1998, and filed of record on August 7, 1998; and

WHEREAS, the Third Supplemental Contract provides that Jefferson At The Plaza Redevelopment Corporation shall notify the Citys Director of Finance, in writing, of any sale or other disposition of all or any portion of the Phase 2 property within ten (10) days of the date of such transfer and within six (6) months after the date title is obtained, the purchaser or other person so obtaining all or any portion of the Phase 2 property shall notify the Citys Director of Finance, in writing, of the purchasers election to continue under the Development Plan; and

WHEREAS, on February 22, 2000, the Council passed Resolution No. 000201 authorizing the Director of the Department of City Development to issue a Certificate of Completion to the Jefferson At The Plaza Redevelopment Corporation pursuant to the terms and conditions of the Development Plan and Redevelopment Contract and pursuant to Section 74-17(d), Code of Ordinances of the City of Kansas City, Missouri, for Phase 2 of the Brush Creek Redevelopment Project; and

WHEREAS, on February 29, 2000, the Director of the Department of City Development issued a Certificate of Completion with respect to Phase 2 of the Development Plan; and

WHEREAS, the Third Supplemental Contract provides that no assignment of the rights and obligations contained therein can be made releasing Jefferson At The Plaza Redevelopment Corporation without the approval of the City; and

WHEREAS, Jefferson At The Plaza Redevelopment Corporation now desires to assign and transfer its rights and obligations under the Third Supplemental Contract to Sailors Plaza, LLC, a Delaware limited liability company, pursuant to an Assignment and Assumption Agreement for Chapter 353 Development Rights and Obligations; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the assignment of Jefferson At The Plaza Redevelopment Corporation to Sailors Plaza, LLC, of all of its rights, title, obligations and interest under the Third Supplemental Contract and the Third Amendment to the Development Plan as it affects certain property legally described as:

Lot 1, Jefferson At The Plaza, a subdivision lying within Kansas City, Jackson County, Missouri.

is hereby approved. A copy of said Assignment and Assumption Agreement is attached hereto and incorporated herein by reference.

Section 2. That Jefferson At The Plaza Redevelopment Corporation is hereby released and discharged of its rights and obligations with respect to the Third Supplemental Contract, for the property legally described above in Section 1, accruing after the effective date of this ordinance. Jefferson At The Plaza Redevelopment Corporation is not released from any liability for actions prior to the effective date of this ordinance.

Section 3. That this ordinance shall be effective ten days after passage or upon notice to the City Clerk from the City Attorney that a fully executed Assignment and Assumption Agreement between Jefferson At The Plaza Redevelopment Corporation and Sailors Plaza, LLC, has been received by the City Attorney in the form attached to this ordinance; whichever last occurs.

_____________________________________________

Approved as to form and legality:

___________________________________

Assistant City Attorney