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Legislation #: 020211 Introduction Date: 2/21/2002
Type: Resolution Effective Date: none
Sponsor: COUNCILMEMBER ROWLAND
Title: Stating the CouncilĀ“s intent to not approve the proposed amendment to the Country Club Plaza Tax Increment Financing Plan submitted by Highwoods Properties for approximately $12.8 million in tax increment financing reimbursable project costs for the demolition of the Park Lane apartment building and construction of an eight story office building with 760 parking spaces on the Park Lane property.

Legislation History
DateMinutesDescription
2/21/2002

Waive Charter Requirements City Council

3/6/2002

Hold Off Agenda

2/21/2002

Referred Planning, Zoning & Economic Development Committee

1/15/2003

Released


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RESOLUTION NO. 020211

 

Stating the Councils intent to not approve the proposed amendment to the Country Club Plaza Tax Increment Financing Plan submitted by Highwoods Properties for approximately $12.8 million in tax increment financing reimbursable project costs for the demolition of the Park Lane apartment building and construction of an eight story office building with 760 parking spaces on the Park Lane property.

 

WHEREAS, the Country Club Plaza Tax Increment Financing Plan was approved by the City Council on April 17, 1997, through the passage of Ordinance No. 970374; and

 

WHEREAS, the approved Country Club Plaza Tax Increment Financing Plan included approval of Project Area 7 referred to as Park Lane; and

 

WHEREAS, the approved Park Lane Project included the renovation of the Park Lane apartment building, a historically significant building located north of the northeast corner of 46th Terrace and Wornall Road, into an 88 room hotel with 280 parking spaces; and

 

WHEREAS, the estimated development schedule for completion of the approved Park Lane Hotel Project was from July 1998 until July 2000; and

 

WHEREAS, since the approval of the Country Club Plaza Tax Increment Financing Plan in 1997, no renovation of the Park Lane building and conversion to an 88 room hotel has occurred; and

 

WHEREAS, instead of the approved Park Lane Project, Highwoods Properties now proposes to amend the Country Club Plaza Tax Increment Financing Plan to demolish the Park Lane building and to construct an eight story office building (consisting of approximately 24, 850 sq. ft. per floor) with an 8,000 sq. ft. penthouse with 760 parking spaces; and

 

WHEREAS, the proposed amendment to the Country Club Plaza Tax Increment Financing Plan requests approximately $12.8 million in TIF reimbursable project costs for an approximately $44.1 million project; and

 

WHEREAS, the Council believes that the renovation of the historically significant Park Lane building was an important component of the approved Country Club Plaza Tax Increment Financing Plan in 1997; and

 

WHEREAS, the proposed tenant, a downtown law firm consisting of approximately 450 employees, has announced its intention to occupy a portion of the proposed office building on the Park Lane property and to vacate its office which is located within the tax abated Pershing Square 353 Redevelopment Project; and

 

WHEREAS, the Council hereby expresses its intention to not approve the proposed amendment to the Country Club Plaza Tax Increment Financing Plan due to Highwoods proposal which would result in the loss of a historically significant property, would result in the relocation of the law firm from one tax incentive project to another and from the greater Downtown area, and would result in excessive public support for the 760 space parking garage; NOW, THEREFORE;

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

 

That the Council hereby states its intention to not approve the proposed amendment to the Country Club Plaza Tax Increment Financing Plan submitted by Highwoods Properties which requests approval of approximately $12.8 million in tax increment financing (TIF) reimbursable project costs for the demolition of the Park Lane apartment building and construction of an eight story office building with 760 parking spaces on the Park Lane property.

 

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