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.
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Approved as to form and
legality:
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City Attorney