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.
____________________________________________
Approved as to
form and legality:
_______________________________
Cecilia
Abbott
Assistant City
Attorney