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[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 240313

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Sponsor: Councilmember Andrea Bough, Mayor Quinton Lucas, and Councilmember Wes Rogers
COMMITTEE SUBSTITUTE

Establishing Fund No. 3453, 2025A Taxable Special Obligation Bond Fund; estimating $90,000,000.00 and appropriating the same in Fund 3453 for the purpose of providing funds for demolition of the Barney Allis Plaza/Auditorium Plaza Garage complex; approving a plan of finance for the demolition and reconstruction of the Barney Allis Plaza/Auditorium Plaza Garage Complex; authorizing the Director of Finance to close project accounts upon project completion; and establishing May 1, 2024 as the effective date of this ordinance.

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WHEREAS, the Barney Allis Plaza along with the Auditorium Plaza Garage were constructed in 1955 to serve Municipal Auditorium and now serve the needs of the Bartle Hall Convention Center and surrounding hotels; and

WHEREAS, Barney Allis Plaza and Auditorium Plaza Garage serve as collateral for prior bonds issued to finance the expansion of Bartle Hall and pursuant to existing covenants, the garage must be either preserved or demolished and rebuilt as a revenue-producing asset; and

WHEREAS, the City completed an assessment of the structural integrity and life safety systems including ventilation, fire suppression, emergency phones, water pumps, lighting, and egress, which assessment concluded the Plaza and Garage should be closed unless repairs were made; and

WHEREAS, limited repairs were completed to extend the useful life of the garage while the City evaluated options for demolition and reconstruction of the Garage and Plaza; and

WHEREAS, the City Council adopted Ordinance No. 230218 on March 16, 2023, allocating $7.5 million for design services and other expenses related to Barney Allis Plaza and Auditorium Parking Garage, and

WHEREAS, plans for the demolition and reconstruction of a new garage and plaza have been pre...

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