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Legislation #: 060174 Introduction Date: 2/9/2006
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER EDDY
Title: Authorizing the City Manager to execute an agreement with Anschutz Kansas City Arena, LLC, and Anschutz Entertainment Group, Inc. to cover the costs and expenses authorized by a 3rd Limited Notice to Proceed to M.A. Mortenson Company for the downtown arena project and authorizing the expenditure of previously appropriated funds in the amount of $10,000,000.00.

Legislation History
DateMinutesDescription
2/9/2006 Filed by the Clerk's office
2/9/2006 Passed

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060174.pdf Authenticated 76K Authenticated

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ORDINANCE NO. 060174

Authorizing the City Manager to execute an agreement with Anschutz Kansas City Arena, LLC, and Anschutz Entertainment Group, Inc. to cover the costs and expenses authorized by a 3rd Limited Notice to Proceed to M.A. Mortenson Company for the downtown arena project and authorizing the expenditure of previously appropriated funds in the amount of $10,000,000.00.

WHEREAS, the City and Anschutz Kansas City Arena, LLC, and Anschutz Entertainment Group, Inc. (AEG) entered into the Kansas City Arena Development Agreement dated as of March 17, 2005, as amended (the Agreement); and

WHEREAS, in order to provide funding for M.A. Mortenson to continue the construction activities previously authorized under Section 4.13 of the Agreement, the City and AEG agree to issue a 3rd Limited Notice to Proceed; and

WHEREAS, AEG agrees to pay and be responsible for those costs and expenses authorized by the 3rd Limited Notice to Proceed in an amount up to $7,200,000.00; and

WHEREAS, if a Notice to Proceed under Section 2.05 of the Agreement is not issued prior to February 23, 2006, City agrees to reimburse AEG for any amounts actually expended by AEG as a result of the issuance of the 3rd Limited Notice to Proceed; NOW, THEREFORE,

  BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY: 

Section 1. That the City Manager is hereby authorized to execute an agreement with Anschutz Kansas City Arena, LLC as the Developer and Anschutz Entertainment Group, Inc. as the Guarantor to cover the costs and expenses authorized by a 3rd Limited Notice to Proceed to M.A. Mortenson Company for the downtown arena project. The agreement is attached hereto as Exhibit A and incorporated herein by reference.

Section 2. That the City Manager is hereby authorized to expend an amount up to $10,000,000.00 from funds previously appropriated to Account No. AL-3410-897770-B as and for consideration in/of the aforesaid agreement and related contingencies.

_____________________________________________

 


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.

 

 

___________________________________

Debra R. Hinsvark

Director of Finance

 

Approved as to form and legality:

 

 

___________________________________

Nelson V. Munoz

Assistant City Attorney