COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 951452

Authorizing the Director of City Development to execute an Amended and Restated Cooperative Agreement with 13th & Wyandotte, L.L.C., the Tax Increment Financing Commission of Kansas City, Missouri and the Port Authority of Kansas City, Missouri, relating to the financing of the 13th & Wyandotte Hotel redevelopment project and directing the City Clerk to file same.

WHEREAS, the Council approved a Cooperative Agreement for Project Financing with 13th & Wyandotte, L.L.C., the Tax Increment Financing Commission of Kansas City, Missouri and the Land Clearance for Redevelopment Authority of Kansas City, Missouri, relating to the financing of the 13th & Wyandotte Hotel redevelopment project (formerly the Americana Hotel); and

WHEREAS, it is necessary to amend the Cooperative Agreement to reflect proposed changes in the financing of the project including the substitution of the Port Authority for the Land Clearance for Redevelopment Authority as the issuer of bonds; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Director of City Development is authorized to execute an Amended and Restated Cooperative Agreement for Project Financing, on behalf of the City, with 13th & Wyandotte, L.L.C., the Tax Increment Financing Commission of Kansas City, Missouri and the Port Authority of Kansas City, Missouri, relating to the financing of the 13th & Wyandotte Hotel redevelopment project, a copy of which in substantial form is attached hereto and made a part hereof.

Section 2. That the City Clerk is hereby directed to cause a copy of the agreement to be recorded in the Office of the Director of Records for Jackson County, Missouri and a copy to be filed with Secretary of State.

__________________________________________

Approved as to form and legality:

_______________________________

City Attorney