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Legislation #: 160451 Introduction Date: 6/9/2016
Type: Ordinance Effective Date: 6/17/2016
Sponsor: COUNCILMEMBERS REED, LUCAS AND JAMES, JR.
Title: Approving redevelopment of the Linwood Shopping Center, a property owned by the City of Kansas City; establishing Fund No. 5305, the Linwood Shopping Center STIF Fund; estimating and appropriating bond proceeds in the amount of $13,250,000.00; designating requisitioning authority; declaring the City’s intent to reimburse itself for certain expenditures; and recognizing this ordinance as having an accelerated effective date. 

Legislation History
DateMinutesDescription
6/8/2016 Filed by the Clerk's office
6/9/2016 Referred to Planning, Zoning & Economic Development Committee
6/15/2016 Advance and Do Pass, Debate
6/16/2016 Passed

View Attachments
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160451.pdf Authenticated 148K Authenticated
160451 Fact Sheet.pdf Fact Sheet 201K Fact Sheet

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ORDINANCE NO. 160451

 

Approving redevelopment of the Linwood Shopping Center, a property owned by the City of Kansas City; establishing Fund No. 5305, the Linwood Shopping Center STIF Fund; estimating and appropriating bond proceeds in the amount of $13,250,000.00; designating requisitioning authority; declaring the City’s intent to reimburse itself for certain expenditures; and recognizing this ordinance as having an accelerated effective date. 

  

WHEREAS, Committee Substitute for Ordinance No. 150993 authorized the Director of Neighborhoods and Housing Services to execute a Real Estate Sale Contract to acquire the real property commonly known as the Linwood Shopping Center for the purchase price of $950,000.00; and

 

WHEREAS, Ordinance No. 160167 approved the issuance by the City of Kansas City Missouri of its special obligation bonds in five series (collectively, the “Series 2016 Bonds”), to finance certain projects, including purchase of the Linwood Shopping Center, which was subsequently purchased by the City; and 

 

WHEREAS, the Linwood Shopping Center property is generally bounded by 31st Street on the north, Linwood Boulevard on the south, Olive Street on the west, and Montgall Avenue on the east, and its redevelopment consists of demolition and construction of approximately 38,000 square feet of retail space for a new grocery store, exterior improvements, and sitework, and of renovation of 26,000 square feet of additional retail space; and

 

WHEREAS, redevelopment of the Linwood Shopping Center supports the City Council’s stated priority to create and implement aggressive neighborhood revitalization plans that are consistent with Kansas City’s comprehensive, long-range economic and physical growth plans with special attention to sustainable development projects or projects in historically underdeveloped corridors and neighborhoods; and

 

WHEREAS, neighborhoods that lack grocery stores, supercenters, and fresh food markets are called food deserts because staple grocery items are not affordable or easily accessible, and this food insecurity is detrimental to our health, economy, and community; and

 

WHEREAS, construction of a new grocery store at this location in a food desert will provide an opportunity for fresh and healthy food in an underserved area of Kansas City; and

 

WHEREAS, the Linwood Shopping Center will be managed by an experienced property management firm for sustained operation of the Center; and

  

WHEREAS, the improvements are essential to the economic vitality of the Third City Council District, and the City as a whole, and will result in job creation and revenue growth; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That redevelopment of the Linwood Shopping Center is hereby approved.

 

Section 2. That Fund No. 5305, the Linwood Shopping Center STIF Fund, is hereby established in the records of the City of Kansas City, Missouri.

 

Section 3. That the revenue in the following account of Fund No. 3436, the Series 2017A Bond Fund, is hereby estimated in the following amount:

 

AL-3436-120000-590000 Bond Proceeds $13,250,000.00

 

Section 4. That the sum of $13,250,000.00 is hereby appropriated from the Unappropriated Fund Balance of the Fund No. 3436, the Series 2017A Bond Fund to the following account:

 

AL-3436-577300-B-57020342 Linwood Shopping Center

Redevelopment $13,250,000.00

 

Section 5. That the Director of Neighborhoods and Housing Services is designated as requisitioning authority for Account No. AL-3436-577300.

 

Section 6. That the Director of Finance is hereby authorized to close project accounts upon project completion and return the unspent portion of the appropriation to the Fund Balance from which it came.

 

Section 7. That the City hereby declares its official intent to reimburse itself for certain expenditures made within sixty (60) days prior to or on and after the date of this ordinance with respect to the Linwood Shopping Center Redevelopment Project with the proceeds of bonds expected to be issued by the City. The maximum principal amount of bonds expected to be issued for the Linwood Shopping Center Redevelopment Project is not to exceed $13,250,000.00. This constitutes a declaration of official intent under Treasury Regulation Section 1.150-2.

 

Section 8. That this ordinance, relating to the design, repair, maintenance or construction of a public improvement and appropriating money, is recognized as an ordinance with an accelerated effective date as provided by Section 503(a)(3) of the City Charter and shall take effect in accordance with Section 503, City Charter.

  

________________________________________________

 


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.

 

 

_____________________________

Randall J. Landes

Director of Finance

 

Approved as to form and legality:

 

 

_____________________________

Brian T. Rabineau

Assistant City Attorney