RESOLUTION NO. 050990
Directing The City Manager to
develop a plan of financing to support the construction of an inland Mexican
customs facility in the West Bottoms area; and stating the Citys intent to
reimburse itself from proceeds of the financing.
Greater Kansas City Chamber of Commerce, the Mid-America
Regional Council and the Kansas
City Area Development Council created Kansas City SmartPort, Inc.
(Smartport) to explore ways in which Kansas City can position itself as an
international trade processing center with the capability of serving as an
inland port; and
in promoting Kansas City as a strategic hub for trade between the U.S. and
Mexico, has secured the support of both Mexican and U.S. Customs officials for
the construction of a customs facility (Customs Facility) in Kansas City; and
construction of such a facility offers great economic benefit to Kansas City; and
WHEREAS, the City
owns the real property located on the east side of Liberty Street between 14th
and 15th Streets; and SmartPort has requested City support in constructing,
equipping, and acquiring the Customs Facility on that site (the Liberty
Site); NOW, THEREFORE,
BE IT RESOLVED BY THE
COUNCIL OF KANSAS CITY:
Section 1. That the
City Manager is directed to develop a plan of financing to support the
construction of an inland Mexican customs facility on the Liberty Site in the
approximate principal amount of $3 million.
Section 2. That the
City may contribute land, services and construction moneys and seek state,
federal, local and private contributions, as well, each benefiting from the
unique business opportunities that will result from the facility.
Section 3. That the
City Manager is further directed to present his recommendations regarding the
financing to the City Council for its approval.
Section 4. That the City expects
to incur capital expenditures on and after the date of adoption of this
resolution (the Expenditures), and intends to reimburse itself for such
Expenditures solely from the proceeds of the financing. The funds to be
advanced to pay Expenditures are or will be available only for a temporary
period and it is necessary to reimburse the City for such Expenditures made on
and after the date hereof. The maximum principal amount of financing proceeds
expected is $3,000,000.00. This resolution constitutes a declaration of
official intent under Treasury Regulation Section 1.150-2 issued under the Internal
Revenue Code of 1986, as amended.