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Legislation #: 190149 Introduction Date: 2/14/2019
Type: Resolution Effective Date: none
Sponsor: COUNCILMEMBER WAGNER AND COUNCILMEMBER LOAR
Title: Directing the City Manager to communicate the Council’s desire for private equity financing options as part of the financing plan for the terminal modernization project.

Legislation History
DateMinutesDescription
2/14/2019 Filed by the Clerk's office
2/14/2019 Referred to Airport Committee
3/7/2019 Hold Off Agenda
2/21/2019 Hold On Agenda (2/28/2019)
12/30/2019 Hold Off Agenda

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RESOLUTION NO. 190149

 

Directing the City Manager to communicate the Council’s desire for private equity financing options as part of the financing plan for the terminal modernization project.

 

WHEREAS, the City of Kansas City is currently contemplating both short-term and long-term financing for the new terminal modernization project; and

 

WHEREAS, the primary avenues of providing that financing has been through debt issuances; and

 

WHEREAS, equity or private financing options have not been pursued to date but may provide additional options for financing the new terminal modernization project without further debt being issued by the City of Kansas City; and

 

WHEREAS, equity or private financing options may bring the overall cost of financing of the terminal modernization project down by over $600 million; NOW, THEREFORE,

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

 

That the City Manager, or his designee, is directed to communicate to the Edgemoor Development Team the desire of the City Council that they pursue an equity partner for the purpose of having private financing available to fulfill mezzanine, bridge or other financial needs of the terminal modernization project.

 

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