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Legislation #: 090824 Introduction Date: 9/17/2009
Type: Ordinance Effective Date: 10/11/2009
Sponsor: None
Title: Authorizing the Director of City Planning and Development to enter into a Real Estate Purchase and Sale Agreement on behalf of the City with Abbott Properties, L.L.C., and Grand Exchange Building, L.L.C., in the amount of $2,800,000.00 for the purchase of real property located at 1207 Grand Boulevard; appropriating $3,000,000 from the Unappropriated Fund Balance of Fund No. 5050 in the Downtown Arena Debt Fund; designating requisitioning authority; authorizing the Director of Finance to close project accounts upon completion; and directing the City Clerk to record the deed when it is received by the City.

Legislation History
DateMinutesDescription
9/17/2009 Filed by the Clerk's office
9/17/2009 Referred to Planning and Zoning Committee
9/23/2009 Advance and Do Pass, Debate
9/24/2009 Assigned to Third Read Calendar
10/1/2009 Passed as Amended

View Attachments
FileTypeSizeDescription
090824 Abbott Property Factsheet.pdf Fact Sheet 24K 090824 Fact Sheet
sales agreement abbott.pdf Agreement 517K Sales agreement
090824.pdf Authenticated 164K AUTHENTICATED
Abbott Property Factsheet.xls Fact Sheet 112K Factsheet

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ORDINANCE NO. 090824, AS AMENDED

 

Authorizing the Director of City Planning and Development to enter into a Real Estate Purchase and Sale Agreement on behalf of the City with Abbott Properties, L.L.C., and Grand Exchange Building, L.L.C., in the amount of $2,800,000.00 for the purchase of real property located at 1207 Grand Boulevard; appropriating $3,000,000 from the Unappropriated Fund Balance of Fund No. 5050 in the Downtown Arena Debt Fund; designating requisitioning authority; authorizing the Director of Finance to close project accounts upon completion; and directing the City Clerk to record the deed when it is received by the City.

 

WHEREAS, the City desires to purchase 0.72 acres (31, 459 square feet) of real property comprising three contiguous tracts located at 12th Street and Grand Boulevard in Kansas City, Jackson County, Missouri; and

 

WHEREAS, all three tracts are paved and parking is available for 103 vehicles for daily parking; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of City Development is hereby authorized to execute a Real Estate Purchase and Sale Agreement, on behalf of the City with Abbott Properties, L.L.C., and Grand Exchange Building, L.L.C., a copy of which is on file in the City Development Department, in the amount of $2,800,000.00 for the purchase of three tracts of real property located at 1207 Grand Boulevard in Kansas City, Jackson County, Missouri and more specifically described as:

Tract I: Lots 19 and 20, except that part of said lot 19, now in 12th Street, Block 2, McGee’s Addition, a subdivision in Kansas City, Jackson County, Missouri.

 

Tract II: All of the west 38 feet, 4 inches of Lots 10, 11 and 12, Block 2, McGee’s Addition, except that part of Lot 10 in 12th Street and except the south 26 feet of the west 38 feet, 4 inches of Lot 12, a subdivision in Kansas City, Jackson County, Missouri, according to the recoded plat thereof.

 

Tract III: All of lots 13 and 14 and the north 24.75 feet of Lot 15, Block 2, McGee’s Addition, a subdivision in Kansas City, Jackson County, Missouri, according to the recorded plat thereof; also that part of Lots 10, 11 and 12, Block 2, McGee’s Addition aforesaid particularly described as follows: beginning at a point in the south line of 12th Street, 57 feet, 9 inches west of the west line of McGee Street, as said streets are now established in said city, and running thence south on a line parallel with the west line of McGee Street 132 feet more or less, to the south line of said lot 12; thence West along the South line of lot 12 aforesaid; 57 feet 9 inches to the East of line of the alley running North and South in the Block aforesaid; thence North along the East line of said alley 26 feet; thence East parallel with the South line of Lot 12 aforesaid 38 feet, 4 inches; thence North parallel with the West line of McGee Street 106 feet, more or less, to the South line of 12th Street; thence East along the South line of 12th Street 19 feet, 5 inches to the point of beginning.

 

Section 2. That the sum of $ 3,000,000 is hereby appropriated from the Unappropriated Fund Balance of Fund No. 5050, the Downtown Arena Debt Fund to the following account:

 

10-5050-647710-E City Real Estate Acquisition $2,800,000.00

10-5050-648042-B 12th & Grand Site Development 200,000.00

TOTAL $3,000,000.00

 

Section 3. That the Director of City Development is hereby designated as the requisitioning authority for Account Nos. 10-5050-647710 and 10-5050-648042.

 

Section 4. 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 5. That the City Clerk is directed to record this ordinance and the deed conveying the property located at 1207 Grand Boulevard to the City in the Office of the Recorder of Deeds of Jackson County.

 

______________________________________________________

 

I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditures are 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.

 

 

_____________________________

Jeffrey A. Yates

Director of Finance

 

Approved as to form and legality:

 

 

______________________________

Sarah Baxter

Assistant City Attorney