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Legislation #: 031389 Introduction Date: 12/18/2003
Type: Ordinance Effective Date: none
Sponsor: None
Title: Reducing the appropriation in the Downtown Projects account of the G.O. Bonds Downtown/Neighborhood Series 2003F Fund by $1,734,000.00; appropriating $1,234,000.00 to the Wyandotte/Main Streetscape account of the G.O. Bonds Downtown/Neighborhood Series 2003 F Fund; appropriating $500,000.00 to the Broadway Streetscape account of the G.O. Bonds Downtown/Neighborhood Series 2003 Fund; designating requisitioning authority; and authorizing a Cooperative Agreement with the Downtown Council for the completion of these two streetscape projects.

Legislation History
DateMinutesDescription
12/18/2003

Prepare to Introduce

12/18/2003

Referred Planning, Zoning & Economic Development Committee

1/7/2004

Advance and Do Pass as a Committee Substitute

1/8/2004

Passed as Substituted

1/15/2004

Reconsidered

1/15/2004

Amended


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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 031389, AS AMENDED

 

Reducing the appropriation in the Downtown Projects account of the G.O. Bonds Downtown/Neighborhood Series 2003F Fund by $1,734,000.00; appropriating $1,234,000.00 to the Wyandotte/Main Streetscape account of the G.O. Bonds Downtown/Neighborhood Series 2003 F Fund; appropriating $500,000.00 to the Broadway Streetscape account of the G.O. Bonds Downtown/Neighborhood Series 2003 Fund; designating requisitioning authority; and authorizing a Cooperative Agreement with the Downtown Council for the completion of these two streetscape projects.

 

WHEREAS, in November 2002, the voters of Kansas City approved the issuance of $35 million in General Obligation Bonds for a variety of public improvements; and

 

WHEREAS, the G.O. Bond proceeds were to be split between Downtown and Neighborhood projects (45% and 55% respectively) resulting in $15,397,000.00 in funding being available for Downtown projects; and

 

WHEREAS, a public process was initiated by both the Greater Downtown Development Authority and the Public Improvements Advisory Committee to develop a list of projects which would be funded from the Downtown portion of the G.O. Bond proceeds; and

 

WHEREAS, that process resulted in a proposed list of projects which the City Council approved in Resolution No. 030425, and amended by Ordinance No. 030918, which provided $1 million in funding for the Wyandotte-Main Streetscape project and $500,000.00 for the Broadway Streetscape project; and

 

WHEREAS, bond closing costs were lower than anticipated and created an additional $234,000.00 in funds available for completing projects; and

 

WHEREAS, the City of Kansas City will be able to realize benefits through reducing costs and leveraging additional private investment in these projects by coordinating their completion through the Downtown Council, while still meeting the Citys requirements for the use of City bond proceeds; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the appropriation in the following accounts of the G.O. Bonds Downtown/Neighborhood Series 2003F Fund are hereby reduced by the following amounts:

 

04-339-064-7250-T Downtown Projects $1,564,275.00

04-339-089-7259-T Downtown Wayfinding 169,725.00

TOTAL $1,734,000.00

 


Section 2. That the sum of $1,734,000.00 is hereby appropriated from the Unappropriated Fund Balance of the G.O. Bonds Downtown/Neighborhood Series 2003F Fund to the following accounts in the G.O. Bonds Downtown/Neighborhood Series 2003F Fund:

 

04-339-064-7252-T Wyandotte/Main Streetscape $1,234,000.00

04-339-064-7253-T Broadway Streetscape 500,000.00

TOTAL $1,734,000.00

 

Section 3. That the Director of City Development is hereby designated as requisitioning authority for Account No. 04-339-064-7252 and 04-339-064-7253.

 

Section 4. That the Director of City Development is hereby authorized, on behalf of the City, to execute a Cooperative Agreement with the Downtown Council for the funding of the construction of the Wyandotte/Main and Broadway streetscape projects, to be substantially in the form as attached.

 

Section 5. That the project funding list established in Resolution No. 030425 is hereby revised to reflect $1,234,000.00 for the Wyandotte Main Streetscape project.

 

_____________________________________________

 

I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred.

 

 

___________________________________

Kevin Riper

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Heather A. Brown

Assistant City Attorney