KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 180971 Introduction Date: 12/13/2018
Type: Ordinance Effective Date: 12/21/2018
Sponsor: None
Title: Authorizing the Director of Public Works to execute a First Amendment to Reimbursement Prioritization Agreement with Tax Increment Financing Commission and Hunt Midwest Real Estate Development, Inc.; estimating revenue in the amount of $275,000.00 in the Capital Improvements Fund; reducing appropriations in the amount of $796,596.03 in the Capital Improvements Fund; appropriating funds in the amount of $1,071,596.03 to the Northwood Road and NC2 Contingency accounts; reducing funds in the amount of $463,540.20 in the Series 2016 Tax-Exempt Bonds Fund; appropriating that amount to the Old Tiffany Springs Rd. Bridge; and recognizing this ordinance as having an accelerated effective date.

Legislation History
DateMinutesDescription
12/12/2018 Filed by the Clerk's office
12/13/2018 Referred to Transportation & Infrastructure Committee
12/20/2018 Advance and Do Pass as a Committee Substitute, Debate
12/20/2018 Passed as Substituted

View Attachments
FileTypeSizeDescription
180971.pdf Authenticated 441K Authenticated
Draft TIF KCI Corridor - First Amendment to Prioritization Agreement-v2....pdf Agreement 249K agreement
Fact Sheet.pdf Fact Sheet 151K PW Fact Sheet
Fiscal Note -.pdf Fiscal Note 89K PW Fiscal Note
Appropriation.pdf Other 80K PW Appropriation Worksheet

Printer Friendly Version

COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 180971

 

Authorizing the Director of Public Works to execute a First Amendment to Reimbursement Prioritization Agreement with Tax Increment Financing Commission and Hunt Midwest Real Estate Development, Inc.; estimating revenue in the amount of $275,000.00 in the Capital Improvements Fund; reducing appropriations in the amount of $796,596.03 in the Capital Improvements Fund; appropriating funds in the amount of $1,071,596.03 to the Northwood Road and NC2 Contingency accounts; reducing funds in the amount of $463,540.20 in the Series 2016 Tax-Exempt Bonds Fund; appropriating that amount to the Old Tiffany Springs Rd. Bridge; and recognizing this ordinance as having an accelerated effective date.

 

WHEREAS, on November 1, 2012, City Council passed Committee Substitute for Ordinance 120920 authorizing an $275,000.00 Funding and Reimbursement Agreement with the Tax Increment Financing Commission to loan funds to keep KCI Corridor TIF improvements on schedule which funds were to be paid back; and

 

WHEREAS, on July 14, 2016, City Council passed Ordinance 160514, authorizing a Cooperative Agreement with Platte County, Missouri for County construction projects on City roadways, whereby the City would fund and complete the design and right of way acquisition on joint projects and the County would pay for the construction of the improvements; and

 

WHEREAS, the City has completed design and right of way acquisition on Northwood Road and N.W. 72nd Street under budget; and

 

WHEREAS, the City used $700,000.00 of Council District 2 PIAC fund to acquire right of way on the Old Tiffany Springs Road Bridge over I-29 project on behalf of the Tax Increment Financing Commission in order to keep the project on schedule to avoid losing federal funds and the funds used for right of way acquisition need to be restored; and

 

WHEREAS, on July 6, 2015, the City Council passed Ordinance 150549 authorizing a Reimbursement Prioritization Agreement with the Tax Increment Financing Commission and Hunt Midwest Real Estate Development, Inc., for the prioritization of Tax Increment Financing funds for the Old Tiffany Springs Road Bridge over I-29; and

 

WHEREAS, on June 7, 2018, City Council passed Ordinance 180422 securing federal and TIF Commission funding to replace and improve the Old Tiffany Springs Road Bridge over I-29 and such work is underway but additional funds are needed to complete the project; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of Public Works is authorized to execute a First Amendment to Reimbursement Prioritization Agreement with Tax Increment Financing Commission and Hunt Midwest Real Estate Development, Inc., for the purpose of providing funding for the prioritization of Tax Increment Financing funds for the Old Tiffany Springs Road Bridge over I-29. The agreement is approved in substantial form as that on file in the office of the Director of Public Works, subject to the receipt of all required approvals.

 

Section 2. That the revenue in the following account of the Capital Improvements fund is hereby estimated in the following account:

 

19-3090-890000-485380 Contribution from TIF Commission $275,000.00

 

Section 3. That the sum $796,596.03 is hereby reduced in the following accounts of the Capital Improvements Fund:

 

19-3090-898201-B-89008230 N.W. 72nd Street $ 96,596.03

19-3090-898012-B-89008153 Old Tiffany Springs Rd Bridge 700,000.00

TOTAL $796,596.03

 

Section 4. That the sum of $1,071,596.03 is hereby appropriated from the Unappropriated Fund Balance to the following accounts of the Capital Improvements Fund:

 

19-3090-898201-B-89008160 Northwood Road $ 96,596.03

19-3090-108200-B-89009996 NC2 Contingency 975,000.00

TOTAL $1,071,596.03

 

Section 5. That the sum $463,540.20 is hereby reduced in the following accounts of the Series 2016 Tax-Exempt Bonds Fund:

 

AL-3433-898012-A-89008160 Northwood Road $ 1,731.45

AL-3433-898012-B-89008160 Northwood Road 97,245.00

AL-3433-898012-E-89008160 Northwood Road 19,600.00

AL-3433-898012-B-89008230 N.W. 72nd Street 343,848.75

AL-3433-898012-E-89008230 N.W. 72nd Street 1,115.00

TOTAL $463,540.20

 

Section 6. That the sum of $463,540.20 is hereby appropriated from the Unappropriated Fund Balance of the Series 2016 Tax-Exempt Bonds Fund to the following account:

 

AL-3433-898012-B-89008153 Old Tiffany Springs Rd. Bridge $463,540.20

 

Section 7. That this ordinance, relating to appropriating money, is recognized as having an accelerated effective date as provided in Section 503(a)(3)(C) of the City Charter and shall take effect in accordance with Section 503, City Charter.

 

_______________________________________________

 

 I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred.

 

______________________________

Randall J. Landes

Director of Finance

 

 

Approved as to form and legality:

 

 

______________________________

Dustin E. Johnson

Assistant City Attorney