ORDINANCE NO. 230826
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Sponsor: City Manager
Approving an Industrial Development Plan for Cas-KC-neda, LLC for the purpose of acquiring, constructing, improving, and renovating a project for industrial development consisting of a boutique hotel with approximately thirty-five units (the "Project") located at 1108-1110 Grand Avenue, Kansas City, Missouri (the "Project Site"); authorizing and approving various agreements for the purpose of setting forth covenants, agreements and obligations of the City and Cas-KC-neda, LLC; authorizing the issuance of taxable industrial revenue bonds in an amount not to exceed $18,000,000.00; authorizing and approving other documents; and authorizing certain other actions in connection with the issuance of said bonds.
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WHEREAS, the City of Kansas City, Missouri, a constitutional charter city and municipal corporation of the State of Missouri (the "City") is authorized pursuant to the provisions of Article VI, Section 27(b) of the Missouri Constitution, as amended, and Sections 100.010 to 100.200, inclusive, of the Revised Statutes of Missouri, as amended, and the City of Kansas City Charter (collectively, the "Act"), to issue its revenue bonds for carrying out a project or projects under the Act, such revenue bonds to be paid solely from revenue received from such project, and to enter into leases of certain property associated with the project to be financed with the proceeds of such revenue bonds with any person, firm or corporation; and
WHEREAS, the City has heretofore prepared and approved plans for the industrial development of the City and desires to approve a Chapter 100 Industrial Development Plan (the "Plan") for the purpose of carrying out the Project for Cas-KC-neda, LLC, a Missouri limited liability company, and its affiliates or other designated entities (the "Company"); and
WHEREAS, the City intends to issue its Taxable Industrial Revenue Bonds (Kindler Hotel Project) (the "Bonds") ...
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