ORDINANCE NO. 120307

Authorizing the City Manager to enter into a Purchase Agreement with the Land Clearance Redevelopment Authority of Kansas City, Missouri (“LCRA”) to transfer title of the property at 1121 McGee Street to LCRA to facilitate redevelopment of the Argyle Building.

WHEREAS, the Argyle Building, located at 306 E. 12th Street, is an insanitary, blighted, and deteriorated building within the Central Business District Urban Redevelopment Area and its successful redevelopment will likely require off-site parking; and

WHEREAS, the City owns a surface parking lot at 1121 McGee Street, located in the Central Business District Urban Redevelopment Area and adjacent to the Argyle Building, and is willing to convey the property to LCRA for redevelopment as authorized by Sections 99.580 and 99.590, RSMo; and

WHEREAS, this conveyance is conditioned upon (1) the City defeasing the bonds associated with the surface parking lot, (2) LCRA receiving fair value for the property as defined by Section 99.450, RSMo., from the selected redeveloper, (3) the City receiving these proceeds, less LCRA’s administrative costs, for the property, (4) reservation of an easement allowing ingress and egress between the Wolf Garage and McGee Street, and (5) preservation of the existing alley; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the City Manager is authorized to enter into a Purchase Agreement with LCRA to transfer the property located at 1121 McGee Street to LCRA, subject to the conditions above, for disposition in connection with the redevelopment of the Argyle Building, to execute any and all real estate and closing documents necessary, and to take such further action as required to carry out the intent of this ordinance.

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Approved as to form and legality:

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Cecilia Abbott

Assistant City Attorney