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Legislation #: 100588 Introduction Date: 7/22/2010
Type: Ordinance Effective Date: 8/7/2010
Sponsor: COUNCILMEMBER FORD
Title: Authorizing the execution of a Funding and Acquisition Agreement among the City, the Tax Increment Financing Commission of Kansas City, Missouri, the Planned Industrial Expansion Authority of Kansas City, Missouri, East Village, LLC and Swope Community Builders for the East Village Project and a Partial Assignment and Assumption Agreement among East Village, LLC, GF Properties Group, LLC, the City and the Tax Increment Financing Commission of Kansas City, Missouri.

Legislation History
DateMinutesDescription
7/20/2010 Filed by the Clerk's office
7/22/2010 Referred to Planning and Zoning Committee
7/28/2010 Advance and Do Pass, Debate
7/29/2010 Passed

View Attachments
FileTypeSizeDescription
100588.pdf Authenticated 97K AUTHENTICATED
100588.DOC Agreement 244K Funding agreement
Block 65 66 Agrmt Factsheet.xls Fact Sheet 101K East Village Agreement
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=100588 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=100588

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ORDINANCE NO. 100588

 

Authorizing the execution of a Funding and Acquisition Agreement among the City, the Tax Increment Financing Commission of Kansas City, Missouri, the Planned Industrial Expansion Authority of Kansas City, Missouri, East Village, LLC and Swope Community Builders for the East Village Project and a Partial Assignment and Assumption Agreement among East Village, LLC, GF Properties Group, LLC, the City and the Tax Increment Financing Commission of Kansas City, Missouri.

WHEREAS, Committee Substitute for Ordinance No. 060037, passed on January 19, 2006, authorized the execution of a Memorandum of Understanding with East Village, LLC and J.E. Dunn which set forth intentions and understandings of each party in connection with the East Village Project;

WHEREAS, Second Committee Substitute for Ordinance No. 060943, passed on December 14, 2006, authorized the execution of the Funding and Acquisition Agreement (the “Agreement”) between the City, the Tax Increment Financing Commission of Kansas City, Missouri (the “Commission”), and the J.E. Dunn Company; and

  WHEREAS, Ordinance No. 071287, passed on November 29, 2007, authorized the execution of the first amendment to the Agreement to clarify the responsibilities of the parties for the payment of certain acquisition costs and certain other matters relating to the construction of the project and acquisition of other properties within East Village; and

WHEREAS, the City, the Commission, the Planned Industrial Expansion Authority of Kansas City, Missouri, East Village, LLC and Swope Community Builders wish to enter into a Funding and Acquisition Agreement for properties within the East Village project; and

WHEREAS, the East Village Tax Increment Financing Plan contemplates the implementation of the Plan through three redevelopment projects; and

WHEREAS, East Village LLC desires to convey to GF Properties Group, LLC, certain rights, interest, duties and obligations under the Redevelopment Agreement relating to Project 2; GF Properties Group, LLC desires to assume and perform all of such rights, duties, interests and obligations as they relate to Project 2; and the City and the Commission have agreed to the assignment and assumption; NOW THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the City Manager is hereby authorized to execute a Funding and Acquisition Agreement among the City, the Tax Increment Financing Commission of Kansas City, Missouri, the Planned Industrial Expansion Authority of Kansas City, Missouri, East Village, LLC and Swope Community Builders. The agreement is approved in substantial form as that on file in the office of the City Manager.

Section 2. That the City Manager is hereby authorized to execute a Partial Assignment and Assumption Agreement among East Village, LLC, GF Properties Group, LLC, the City and the Tax Increment Financing Commission of Kansas City, Missouri for the implementation of Project 2 of the Plan. The agreement is approved in substantial form as that on file in the office of the City Manager.

_________________________________________________

Approved as to form and legality:

 

 

______________________________

Heather A. Brown

Senior Associate City Attorney