RESOLUTION NO. 120329
the development of up to 250 units of student housing and 20 single family
units in the northwest quadrant of the Beacon Hill Development; authorizing
submission of this Resolution of support to the U.S. Department of Housing and
Urban Development (“HUD”); and authorizing the City Manager to take all steps
necessary to assist in making this project a reality.
Beacon Hill Development is a major housing development located from 22nd to
27th Streets, Troost to Vine; and
March 8, 2012, Ordinance No. 120198 was passed that authorized the First
Amendment to the Beacon Hill Development Contract which identified several
sub-development areas, milestones and activities within the overall Beacon Hill
Development and authorized the agreement to be the primary development
agreement for the area; and
northwest quadrant sub-area is located generally from 23rd to 25th Streets,
Troost to Forest Avenue; and
construction is underway on a $1.5 million infrastructure project to allow for
construction of 20 single-family homes with offers for lot sales being received
from sub-developers; and
significant proposed project, in cooperation with the University of Missouri
Kansas City, the Beacon Hill Master Developer and the City, is the financing
and construction of an up to 250 unit, $26 million, student housing development
on the east side of Troost at 24th Street; and
City proposes that all land necessary for the single family homes and student
housing project which is owned by the Housing and Economic Development Finance
Corporation (“HEDFC”), currently under Federal receivership in the U.S.
District Court for the Western District of Missouri in Case No.
05-00368-CV-W-GAF, be transferred to the EDC Charitable Foundation (“EDCCF”),
subject to Court approval, and for the EDCCF land and City-owned land to then
be transferred to a single entity, the Land Clearance for Redevelopment
Authority (“LCRA”); and
transfer of the land to a single entity is necessary to streamline sales of the
lots for single family housing development and facilitate the financing and
development of the student housing; and
City hopes to be successful in obtaining tax credit support from the Missouri
Development Finance Board to help cover a shortfall in the overall
redevelopment budget of approximately $5 million in the public improvements and
infrastructure categories; NOW, THEREFORE,
BE IT RESOLVED
BY THE COUNCIL OF KANSAS CITY:
Section 1. That
the City of Kansas City, Missouri supports the single family and student
housing development activities in Beacon Hill.
Section 2. That
the City will forward a copy of the development proposal for the student housing
and this resolution to HUD for review and approval of the land transfer of
which the transfer of the HEDFC–owned land is subject to the approval of the
U.S. District Court for the Western District of Missouri in Case No.
Section 3. That,
upon HUD approval, the City Manager is hereby directed to take all steps
necessary to move the projects forward, including making application to the
Missouri Development Finance Board.
Section 4. That
the City Manager report back to Council periodically on progress toward
implementing the overall Beacon Hill Development project.