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Legislation #: 060167 Introduction Date: 2/9/2006
Type: Resolution Effective Date: none
Sponsor: COUNCILMEMBER RILEY
Title: Declaring the intent of the City to reimburse itself for expenditures made in connection with the Citadel Plaza Redevelopment Project.

Legislation History
DateMinutesDescription
2/8/2006 Filed by the Clerk's office
2/9/2006 Referred to Planning, Zoning & Economic Development Committee
2/15/2006 Be Adopted
2/23/2006 Assigned to Third Read Calendar
3/2/2006 Passed

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060167.pdf Authenticated 45K Authenticated
060167 fact shset.doc Advertise Notice 41K fact sheet

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RESOLUTION NO. 060167

 

Declaring the intent of the City to reimburse itself for expenditures made in connection with the Citadel Plaza Redevelopment Project.

 

WHEREAS, the Council passed Committee Substitute for Ordinance No. 051269 which authorized a contract with Community Development Corporation of Kansas City (CDC-KC) for acquisition and development services for the Citadel Plaza Redevelopment Project (the Project); and

 

WHEREAS, the City passed Ordinance No. 060038 which amended the contract with CDD-KC by adding an additional $200,000.00 for property acquisition; and

 

WHEREAS, it is necessary for the Council to state its intent to reimburse itself from bond proceeds to be issued for the Project; NOW, THEREFORE,

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY;

Section 1. That the City declares its intent to reimburse itself for certain expenditures made within 60 days prior to or on and after the date of this resolution with respect to the Project with the proceeds of bonds expected to be issued by the City or a statutory agency of the City. The maximum principal amount of bonds expected to be issued for the Project is not to exceed $1,200,000.00. This constitutes a declaration of official intent under Treasury Regulation 1-150-2.

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