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Legislation #: 140539 Introduction Date: 7/10/2014
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER MARCASON
Title: Authorizing the Director of City Development to execute and deliver a Cooperative Agreement with the Port Authority of Kansas City, Missouri, for the purposes of providing for the future amendment of the Riverfront lease to extend its term and allocate certain lease revenues towards the payment of costs associated with the single-point urban interchange and other infrastructure and supportive facilities to be constructed; and authorizing the City Attorney to execute and file such documents as may be required to establish a port improvement district.

Legislation History
DateMinutesDescription
7/10/2014 Filed by the Clerk's office
7/10/2014 Referred to Planning, Zoning & Economic Development Committee
7/16/2014 Advance and Do Pass as a Committee Substitute, Debate
7/17/2014 Passed as Substituted

View Attachments
FileTypeSizeDescription
140539.pdf Authenticated 184K Authenticated
140539 Cooperative Agreement.pdf Agreement 193K Cooperative Agreement
140539 Fact Sheet.pdf Fact Sheet 115K Fact Sheet

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 140539

 

Authorizing the Director of City Development to execute and deliver a Cooperative Agreement with the Port Authority of Kansas City, Missouri, for the purposes of providing for the future amendment of the Riverfront lease to extend its term and allocate certain lease revenues towards the payment of costs associated with the single-point urban interchange and other infrastructure and supportive facilities to be constructed; and authorizing the City Attorney to execute and file such documents as may be required to establish a port improvement district.

 

WHEREAS, on May 14, 1993, the City and the Port Authority of Kansas City, Missouri (the "Authority") entered into a certain lease agreement wherein the City leased to the Authority, for development purposes, certain real property along the Missouri River riverfront (such riverfront being located generally between the Missouri River on the north, Front Street on the south, Broadway on the west, and property east of I-29/35 on the east), which lease was amended on September 30, 1994, and August 21, 1995 (collectively, the “Original Lease”); and

 

WHEREAS, on August 21, 2006, the Original Lease and was amended and restated, and was thereafter further amended on September 21, 2011 for the purpose of removing from the leasehold those portions of the Missouri River riverfront generally lying west of the Christopher S. Bond Bridge and conveyed by City to Authority (collectively, the “First Amended and Restated Lease”); and

 

WHEREAS, the City Council, on November 30, 2006, adopted Resolution No. 061289 to express the City’s support for the construction of a single-point urban interchange (the “SPUI”) as part of various proposed improvements to Front Street and the I-29/I-35/Paseo Bridge interchange, and authorized the City Manager to work with the Authority to identify and recommend potential funding sources for a financial contribution towards the costs of designing and constructing the SPUI (the “SPUI Obligation”); and

 

WHEREAS, the City Council, on March 8, 2007, by Ordinance No. 070268, authorized the Director of Public Works to enter into a cooperative agreement with the Missouri Highways and Transportation Commission (MHTC) and the Authority which provided for various agreements related to the SPUI Obligation, and established the SPUI Obligation in the amount of $10 million ($10,000,000.00); and

 

WHEREAS, the Authority has developed and proposes to develop an economic development plan for the construction of certain infrastructure and supportive facilities on the property leased by Authority from the City, generally lying east of the Christopher S. Bond Bridge (the “Riverfront Plan”); and

 

WHEREAS, the Authority has determined that it is in the best interest of the Authority and the Riverfront Plan to create a Port Improvement District (the "PID") pursuant to Port Improvement District Act, Sections 68.200, RSMo, et seq., as amended (the “PID Act”), for the purposes of imposing a 1.0% percent sales and use tax and a property tax (the “PID Tax”) and funding infrastructure costs related to implementation of the Riverfront Plan and a contribution towards the SPUI Obligation in an amount not to exceed $2.7 million ($2,700,000.00); and

 

WHEREAS, the Authority desires to enter into a cooperative agreement with the City for the purposes of addressing the respective roles of the Authority and the City in the implementation of the Riverfront Plan, obtaining such documents and filings as may be required to establish the PID, defining the terms pursuant to which the Authority shall make a payment in an amount not to exceed $2.7 million to the SPUI Obligation, and modifying the First Amended and Restated Lease to extend its term and secure a revenue stream that provides funding for obligations related to the implementation of the Riverfront Plan and contributions to the SPUI Obligation; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1.  That the Director of City Development is hereby authorized to execute and deliver the Cooperative Agreement. The Cooperative Agreement is attached hereto in substantial form.

 

Section 2. That the City Attorney is hereby authorized and directed to execute such documents and make such filings on behalf of the City as may be required to establish a port improvement district as contemplated by the Cooperative Agreement approved herein.

 

________________________________________________

 

Approved as to form and legality:

 

___________________________

Brian T. Rabineau

Assistant City Attorney