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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 001217
Approving the assignment
of certain development rights with respect to Phase 1 of the Bedrock Redevelopment
Project (formerly Wyndham Gardens Hotel-Plaza) by Bedrock Partners
Redevelopment Corporation to Grubarges-Kansas City, L.L.C.; and releasing
Bedrock Partners Redevelopment Corporation as it relates to those certain
development rights.
WHEREAS, the
Bedrock Partners Redevelopment Corporation, an urban redevelopment corporation
of Missouri, organized under and pursuant to the Urban Redevelopment
Corporation Act of 1945, as amended, did file with the City Clerk an
application for approval of the Development Plan which was approved by the City
Council by Ordinance No. 951707, passed January 18, 1996, and a redevelopment
contract was executed on December 4, 1996, between the City and Bedrock; and
WHEREAS, Bedrock
Partners Redevelopment Corporation did file a First Amendment to the
Development Plan which was approved by the City Council by Committee Substitute
for Ordinance No. 961427, passed December 5, 1996, and the First Amendment to
the Redevelopment Contract was executed on December 30, 1996; and
WHEREAS, Bedrock
Partners did assign and transfer certain development rights with respect to
Phase 2 of the Development Plan to the K.C. Homestead Village Redevelopment
Corporation, an urban redevelopment corporation of Missouri, organized under and
pursuant to the Urban Redevelopment Corporation Act of 1945, as amended, and
said assignment was approved by the City Council by Committee Substitute for
Ordinance No. 961427, passed on December 5, 1996; and
WHEREAS, on April
15, 1999, the Council passed Resolution No. 990500 authorizing the Director of
the Department of City Development to issue a Certificate of Completion to the
K.C. Homestead Village Redevelopment Corporation pursuant to the terms and
conditions of the Development Plan and Redevelopment Contract and pursuant to
Section 74-17(d), Code of Ordinances of the City of Kansas City, Missouri, for
Phase 2 of the Bedrock Redevelopment Project and the Certificate of Completion
was issued on April 15, 1999; and
WHEREAS, on July
8, 1999, the Council passed Resolution No. 990883 authorizing the Director of
the Department of City Development to issue a Certificate of Completion to the
Bedrock Partners Redevelopment Corporation pursuant to the terms and conditions
of the Development Plan and Redevelopment Contract and pursuant to Section
74-17(d), Code of Ordinances of the City of Kansas City, Missouri, for Phase 1
of the Bedrock Redevelopment Project and the Certificate of Completion was
issued on August 24, 1999; and
WHEREAS, Bedrock
Partners Redevelopment Corporation provided notice to the City that Phase 1 of
the Bedrock Redevelopment Project had been sold and transferred by KC Plaza
Investment Partners Level 1, LP, to Grubarges-Kansas City, L.L.C., and Bedrock
Partners Redevelopment Corporation desires to assign and transfer its rights
and obligations under the Redevelopment Contract to Grubarges-Kansas City,
L.L.C., pursuant to an Assignment and Release Agreement dated April 27, 2000;
NOW, THEREFORE,
BE IT ORDAINED BY
THE COUNCIL OF KANSAS CITY:
Section 1. That
the assignment of Bedrock Partners Redevelopment Corporation to
Grubarges-Kansas City, L.L.C., of all of its rights, title, obligations and
interest under the Redevelopment Contract as it affects certain property
legally described as:
Tract 1,
Plaza Inn, a subdivision lying within Kansas City, Jackson County, Missouri, as
shown by the plat recorded February 1, 1996, as Document No. K-0004367.
is hereby approved. A copy
of said Assignment and Release Agreement dated April 27, 2000, is attached
hereto and incorporated herein by reference.
Section 2. That
Bedrock Partners Redevelopment Corporation is hereby released and discharged of
its rights and obligations with respect to the Redevelopment Contract, for the
property legally described above in Section 1, accruing after the effective
date of this ordinance. Bedrock Partners Redevelopment Corporation is not
released from any liability for actions prior to the effective date of this
ordinance.
_____________________________________________
Approved
as to form and legality:
___________________________________
Assistant
City Attorney