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Legislation #: 090140 Introduction Date: 2/19/2009
Type: Ordinance Effective Date: 4/12/2009
Sponsor: None
Title: Authorizing the Director of General Services to enter into a Fourth Amendment to a Lease Agreement with Care Center of Kansas City for property generally known as Swope Ridge Geriatric Center at 5900 Swope Parkway for the term beginning May 1, 2008 and ending April 30, 2028.

Legislation History
DateMinutesDescription
2/18/2009 Filed by the Clerk's office
2/19/2009 Referred to Public Safety and Neighborhoods Committee
2/25/2009 Hold On Agenda (3/25/2009)
3/25/2009 Hold On Agenda (4/1/2009)
4/1/2009 Advance and Do Pass as a Committee Substitute, Debate
4/2/2009 Passed as Substituted

View Attachments
FileTypeSizeDescription
090140.pdf Authenticated 132K authenticated
lease agreement.doc Advertise Notice 64K lease agreement
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=090140 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=090140
4th Swope Ridge Lease fact sheet - final.xls Fact Sheet 254K Fact Sheet

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 090140

 

Authorizing the Director of General Services to enter into a Fourth Amendment to a Lease Agreement with Care Center of Kansas City for property generally known as Swope Ridge Geriatric Center at 5900 Swope Parkway for the term beginning May 1, 2008 and ending April 30, 2028.

 

  WHEREAS, the Fourth Amendment to Lease Agreement (Fourth Amendment) by and between the City of Kansas City, Missouri, a Missouri municipality, acting by and through its Director of General Services, hereinafter designated as Lessor, and Care Center of Kansas City, a Missouri not-for-profit corporation, hereinafter designated as Lessee, takes effect May 1, 2008; and

 

WHEREAS, Lessor and Lessee entered into a Lease Agreement dated October 4, 1990 (Lease Agreement), for certain parcels of property generally known as Swope Ridge Geriatric Center, 5900 Swope Parkway, Kansas City, Jackson County, Missouri 64130 (Property); and

 

WHEREAS, the Kansas City Municipal Assistance Corporation issued its Improvement and Refunding Bonds, Series 1992B, in part to provide funds to the Lessor for the purpose of constructing and installing certain improvements on the Property and acquiring and installing certain furnishings and equipment therein; and

 

WHEREAS, the provision of such financing required certain adjustments to the lease term and rental provisions contained in the Lease Agreement, which were set forth in two separate Lease Agreement Amendments, the most recent dated December 27, 1998;

 

WHEREAS, it is now necessary that further adjustments to the rental provisions be made in order to accommodate the cash flow needs of the Lessee; and

 

WHEREAS, it is now necessary to add new sections to the lease pertaining to hazard substances and indemnification.; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of General Services is hereby authorized to enter into a Fourth Amendment to a Lease Agreement with Care Center of Kansas City for property generally known as Swope Ridge Geriatric Center for a term beginning on May 1, 2008 and ending on April 30, 2028. A copy of the Fourth Amendment in substantial form is attached.

 


Section 2. That said Fourth Amendment shall contain a rental provision to read as follows:

 

3. RENTAL. 

 

a. While this Fourth Amendment remains effective, Lessee agrees to pay the sum of $165,702.33 (One Hundred Sixty-Five Thousand Seven Hundred Two Dollars and Thirty-Three Cents) rent for the period beginning on May 1, 2008 and ending on April 30, 2009. Said sum shall be paid to the Lessor in full within fifteen (15) days of receipt of funds from Lessor pursuant to a Non-Municipal Agency Funding and Services Contract. Thereafter, Contractor shall pay the following sums:

 

May 1, 2009 April 30, 2010 $171,580.00

May 1, 2010 April 30, 2011 $168,530.00

May 1, 2011 April 30, 2012 $165,730.00

May 1, 2012 April 30, 2013 $167,930.00

May 1, 2013 April 30, 2014 $164,955.00

May 1, 2014 April 30, 2015 $166,555.00

May 1, 2015 April 30, 2016 $167,955.00

May 1, 2016 April 30, 2017 $164,155.00

May 1, 2017 April 30, 2018 $165,355.00

May 1, 2018 April 30, 2019 $165,980.00

May 1, 2019 April 30, 2020 $166,517.50

May 1, 2020 April 30, 2021 $166,705.00

May 1, 2021 April 30, 2022 $166,645.00

May 1, 2022 April 30, 2023 $166,245.00

May 1, 2023 April 30, 2024 $165,463.76

May 1, 2024 April 30, 2025 $169,288.76

May 1, 2025 April 30, 2026 $167,568.76

May 1, 2026 April 30, 2027 $165,500.00

May 1, 2027 April 30, 2028 $168,000.00

 

All rental amounts shall be paid to Lessor in full within fifteen (15) days of receipt of funds from Lessor pursuant to a Non-Municipal Agency Funding and Services Contract.

 

b.             In the event that Lessee is authorized to transfer or assign this Lease Agreement to another party, the rental payments required under Section 3a. may be increased at the Lessor's option to reflect market- rates for similar properties in similar condition.

 

c. In the event that Lessee obtains funding which would enable it to increase the rental payments in any year or years during the time in which the
bonds are outstanding, Lessee must notify Lessor and propose a modification to the rental payment schedule, increasing payments to compensate for years in which rental payments did or will not cover debt service on the bonds.

 

________________________________________________

 

Approved as to form and legality:

 

 

________________________________

Sarah Baxter

Assistant City Attorney