RESOLUTION NO. 160682

Expressing the City’s support for construction of the University of Missouri-Kansas City’s new downtown campus for the Conservatory of Music and Dance; expressing the City’s intent to contribute $7 million in land and public infrastructure costs towards the $96 million project; and once the State of Missouri has funded its $48 million obligation for the project, directing the City Manager to identify funds to meet the City’s contribution.

WHEREAS, the University of Missouri-Kansas City’s new downtown arts campus has been listed as one of the Greater Kansas City Chamber of Commerce’s Big 5 projects for several years; and

WHEREAS, a new Conservatory of Music and Dance located just south of the Kauffman Performing Arts Center on 17th Street between Broadway Boulevard and Central Street would add additional vibrancy to the Crossroads Arts District in Downtown Kansas City; and

WHEREAS, the City was a significant financial contributor to the Kauffman Performing Arts Center and to many other worthwhile civic projects; and

WHEREAS, this proposed $96 million educational campus requires a $48 million local fundraising obligation in order to leverage a matching State of Missouri investment; and

WHEREAS, a total of $41 million in private funds has been raised locally to this date in pursuit of this worthy goal; and

WHEREAS, included in this $41 million total is at least $5.5 million in contributions from an anonymous donor who purchased property, and demolished the structures so that the land was under control for the project; and

WHEREAS, in discussions with the City Manager, it was determined that the best means that the City could support the project was to purchase the land at reasonable cost and provide improved public infrastructure to the site which will allow the campus to be fully integrated into the Crossroads neighborhood; and

WHEREAS, an investment by the City of $7 million for the land and public infrastructure in a $96 million project constitutes an initial return on the City’s investment of over $13 for every $1 of City funds invested; and

WHEREAS, the City stands to benefit from improved vibrancy and the residual development that will occur over many years with the permanent addition of 675 students and faculty into that neighborhood; and

WHEREAS, it has been agreed that the anonymous seller of the property will reinvest all of the City contributions for the land back into the Conservatory project so that the $48 million local investment has been raised; NOW, THEREFORE,

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the City hereby expresses its support for completion of the Downtown Arts Campus of the University of Missouri-Kansas City.

Section 2. That the City finds it is in the public interest to fund $7 million of the total $96 million project by purchasing the property generally located from 17th to 18th Streets and from Broadway Boulevard to Central Street and by preparing the site by covering costs for abatement and demolition and for construction of public infrastructure.

Section 3. That the seller of the property has agreed to reinvest all proceeds derived from the sale of the land into the Conservatory Project so that no profit by the seller is realized.

Section 4. That the City will agree to sell the property to the University of Missouri – Kansas City for a fee not exceeding $10.

Section 5. That this commitment of $7 million in funding is contingent only on full matching funding of the project by the State of Missouri.

Section 6. That the City Manager is directed to identify sources for the $7 million in City funds and to report to the City Council on possible sources when the State of Missouri has committed its share of funds to complete the project.

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