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Legislation #: 071045 Introduction Date: 9/27/2007
Type: Ordinance Effective Date: 4/20/2008
Sponsor: COUNCILMEMBER MARCASON AND COUNCILMEMBER HERMANN
Title: Authorizing the City Manager to execute a Cooperative Agreement with the Performing Arts Community Improvement District, Kauffman Center for the Performing Arts and PAC Holding, Inc. for the design and construction of a garage and related facilities for the Performing Arts Center and the City's convention center; and directing the City Manager to complete a Public Financing Plan for the purpose of funding the garage improvements.

Legislation History
DateMinutesDescription
9/27/2007 Filed by the Clerk's office
9/27/2007 Referred to Finance and Audit Committee
10/3/2007 Hold On Agenda (10/10/2007)
10/10/2007 Hold On Agenda (10/17/2007)
10/17/2007 Hold On Agenda (10/24/2007)
10/24/2007 Hold On Agenda (10/31/2007)
10/31/2007 Hold On Agenda (11/7/2007)
11/7/2007 Hold On Agenda (11/19/2007)
11/19/2007 Hold On Agenda (12/12/2007)
12/12/2007 Hold On Agenda (1/2/2008)
1/9/2008 Hold On Agenda (1/16/2008)
1/16/2008 Hold On Agenda (1/23/2008)
1/23/2008 Hold On Agenda (1/30/2008)
1/30/2008 Hold On Agenda (2/6/2008)
2/6/2008 Hold On Agenda (2/13/2008)
2/13/2008 Hold On Agenda (2/20/2008)
2/20/2008 Hold On Agenda (2/27/2008)
2/27/2008 Hold On Agenda (3/5/2008)
3/5/2008 Hold On Agenda (3/12/2008)
3/12/2008 Hold On Agenda (3/26/2008)
3/26/2008 Hold On Agenda (4/2/2008)
4/2/2008 Advance and Do Pass as Second Committee Substitute, Debate
4/3/2008 Councilmember Hermann Move To Hold On Docket
4/3/2008 Held on Docket (4/10/2008)
4/10/2008 Councilmember Hermann Move to Amend
4/10/2008 Passed as Substituted and Amended

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071045.pdf Authenticated 63K Authenticated

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SECOND COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 071045, AS AMENDED

 

Authorizing the City Manager to execute a Cooperative Agreement with the Performing Arts Community Improvement District, Kauffman Center for the Performing Arts and PAC Holding, Inc. for the design and construction of a garage and related facilities for the Performing Arts Center and the City's convention center; and directing the City Manager to complete a Public Financing Plan for the purpose of funding the garage improvements.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the City Manager is authorized to execute a Cooperative Agreement, on behalf of the City, with Performing Arts Community Improvement District, Kauffman Center for the Performing Arts and PAC Holding, Inc. for the construction of a garage and related facilities for the Performing Arts Center and the City's Convention Center. The Cooperative Agreement is approved, in substantial form, as that attached to this ordinance as Exhibit A provided that the indemnification, reporting, auditing and other appropriate provisions shall survive the termination of the agreement. Among other things, the Cooperative Agreement shall contain (a) a provision that the Agreement will be terminated upon full payment of the bonds subject to automatic renewals, (b) a provision requiring a guarantee of completion of construction of the Performing Arts Center by PAC Holding, Inc., and (c) provisions regarding the Parking Plan, as defined in the Agreement, which are acceptable to all parties to the Agreement. The Cooperative Agreement shall be executed by April 30, 2008.

 

Section 2. That the City Manager is directed to complete preparation of the form of the Public Financing Plan by May 31, 2008.

 

Section 3. That the City Manager is authorized to complete all aspects of the Public Financing Package by October 31, 2008, as set forth in the Agreement, including approximately $47,000,000.00 in revenue bonds for the purpose of funding the Garage Improvements.

 

_____________________________________________

 

Approved as to form and legality:

 

 

______________________________

Heather A. Brown

Assistant City Attorney