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Legislation #: 180083 Introduction Date: 2/1/2018
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER JUSTUS
Title: Authorizing the City Manager to execute a Pre-Development Agreement with McCown Gordon Construction, LLC, that contemplates the issuance of Chapter 100 bonds and extension of sales tax exemption in connection with an economic development effort.

Legislation History
DateMinutesDescription
2/1/2018 Filed by the Clerk's office
2/1/2018 Referred to Planning, Zoning & Economic Development Committee
2/7/2018 Advance and Do Pass, Debate
2/8/2018 Passed

View Attachments
FileTypeSizeDescription
180083.pdf Authenticated 90K Authenticated
Pre-Development Agreement (McCown Gordon).pdf Agreement 216K Pre-Development Agreement
STECM Fact Sheet MG 020518.doc Fact Sheet 45K Fact Sheet

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ORDINANCE NO. 180083

 

Authorizing the City Manager to execute a Pre-Development Agreement with McCown Gordon Construction, LLC, that contemplates the issuance of Chapter 100 bonds and extension of sales tax exemption in connection with an economic development effort.

 

WHEREAS, McCown Gordon Construction, LLC (the “Company”) anticipates renovating and expanding an office building for use as its headquarters, which project includes the renovation of approximately 43,000 square feet of existing office space and the construction of an additional 6,500 square feet of new office space so that, once completed, the improvements will result in a 4-story, 49,500 square-foot Class A office building at the corner of 9th Street and Main Street in Kansas City, Missouri (the “Property”); and

WHEREAS, the Project serves a public purpose in that it will promote economic development in the City and serve as a catalyst for additional investment and development; and

WHEREAS, the Project will result in an expansion of the Company's economic presence in the City, the creation of new jobs in the City and the Company's investment in the Project serves a public purpose by furthering the City's policy of encouraging economic stability and growth; and

WHEREAS, Chapter 100 bonds are contemplated, as part of an overall incentive package, to make the renovation and expansion of the Property economically viable; and

 

WHEREAS, the Property is anticipated to be owned by the City and leased to the Company under the contemplated Chapter 100 transaction; and

WHEREAS, the Company wishes to begin purchasing materials to be used or consumed in constructing the buildings to be located on the Property (the “Construction Materials”) and has agreed to advance to the City the funds needed to begin purchasing, on the City’s behalf, the Construction Materials for the improvement of the Property; and

WHEREAS, the retail sales of the Construction Materials to be used, consumed and otherwise incorporated into the Real Property are exempt from sales and use taxes pursuant to Section 144.062.1, RSMo; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the City Manager is hereby authorized to execute a Pre-Development Agreement with McCown Gordon Construction, LLC that contemplates the issuance of Chapter 100 bonds upon the City Council’s subsequent approval of a Chapter


100 Plan, and authorizes sales tax exemption with respect to the purchase of construction materials.

_____________________________________________

 

Approved as to form and legality:

 

 

___________________________________

Brian T. Rabineau

Assistant City Attorney