ORDINANCE NO. 070466
Authorizing the City Manager to
execute a development and participation agreement with the National Association
of Basketball Coaches Foundation, Inc.; authorizing the execution of certain
other documents and actions related to the development and operation of the
College Basketball Hall of Fame and the Fan Experience Interactive Event at the
Downtown Arena; and repealing Ordinance No. 051294.
WHEREAS, the National Association of Basketball
Coaches Foundation, Inc. (NABC) and the City of Kansas City, Missouri
(City) entered into a Lease Agreement dated November 22, 2000, in which the
parties agreed to make certain expenditures and take certain actions respecting
the construction of (a) the College Basketball Hall of Fame, (b) the Fan
Experience Interactive Event, and (c) a retail shop (collectively NABC
Facilities) to be located in the Citys Municipal Auditorium; and
WHEREAS, because the
Citys decision to construct and develop the Downtown Arena offered an
opportunity for the City and NABC to construct and develop these NABC
Facilities in the Downtown Arena rather than in Municipal Auditorium, the City
and NABC now desire to terminate this original Lease Agreement and enter into a
new agreement or agreements for the location of these NABC Facilities in the
Downtown Arena; and
WHEREAS, after the
Councils passage of Ordinance No. 051294 on November 3, 2005 approving an
earlier version of a development agreement between NABC and the City,
modifications of certain material terms of that earlier development agreement
were negotiated before it was executed requiring its resubmission to Council at
this time for approval; and
WHEREAS, the parties
desire to enter into a Development and Participation Agreement and certain
other related agreements and documents detailing the terms of the development
and operation of the NABC facilities; NOW, THEREFORE,
BE IT ORDAINED BY THE
COUNCIL OF KANSAS CITY:
Section 1. That the
City Manager, or his designee, is hereby authorized to execute on behalf of the
City the NABC Development and Participation Agreement with NABC in
substantial form as that on file in the Office of the City Manager and for
which all City financial obligations thereunder shall be paid from funds
previously appropriated in Account No. 80-0528-36-6-IDA KC (Arena) 05C-D
License Fee Surplus.
Section 2. That the
City Manager, or his designee, is hereby authorized to execute on behalf of the
City the Collateral Assignment of Operating Agreement and Development
Agreement and Security Agreement between the City, NABC and the Anschutz
Kansas City Arena, LLC in substantial form as that on file in the Office of the
City Manager.
Section 3. That the
City Manager, or his designee, is hereby authorized to execute on behalf of the
City the License and Operating Agreement between the City, NABC and the
Anschutz Kansas City Arena, LLC in substantial form as that on file in the
Office of the City Manager.
Section 4. That the
City Manager, or his designee, is hereby authorized to execute on behalf of the
City the Promissory Note between the City and the NABC in substantial form as
that on file in the Office of the City Manager.
Section 5. That the
City Manager is hereby authorized to execute, on behalf of the City, such
documents, certificates and instruments as may be necessary of desirable to
carry out and comply with the intent of this ordinance and to implement the
transactions contemplated under any and all of the documents specifically
described in this ordinance.
Section 6. That
Ordinance No. 051294 is hereby repealed.
________________________________________________
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.
____
_______________________
Debra
R. Hnsvark
Director
of Finance
Approved
as to form and legality:
____________________________
Galen
P. Beaufort
City
Attorney