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[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 260576, AS AMENDED
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Sponsor: Councilmember Kevin O'Neill
COMMITTEE SUBSTITUTE
Authorizing the Director of Public Works to execute a Funding Agreement with The Phillips Edison Company in an amount not to exceed $800,000.00 for the relocation and reconstruction of N.E. Karapat Drive at North Oak Trafficway; reducing appropriations in the Capital Improvements Sales Tax Fund (3090) by $400,000.00 from District 1 Project Holding and $400,000.00 from Capital Contingent Appropriation; appropriating $800,000.00 from the Unappropriated Fund Balance of the Capital Improvements Sales Tax Fund (3090) for relocation and reconstruction at N.E Karapat Drive at North Oak Trafficway; and recognizing this ordinance as having an accelerated effective date.
"Advance and Do Pass as a Committee Substitute"
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WHEREAS, the project has a Capital Improvement Program score of 38 based on approved rating criteria; NOW, THEREFORE
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That the Director of Public Works is hereby authorized to execute a Funding Agreement with The Phillips Edison Company for the relocation and reconstruction of N.E. Karapat Drive at North Oak Trafficway. A copy of the agreement, in substantial form as modified by this directive to the City Manager to negotiate appropriate reimbursement or other damage provisions to the benefit of the City if the Phillips Edison Company fails to substantially complete the development project within three years of the execution date of the Funding Agreement, is on file in the office of the Director of Public Works.
Section 2. That the appropriations in the following account of the Capital Improvements Sales Tax Fund, Fund No. 3090, are hereby reduced by the following amount:
27-3090-128100-B-89009995 D1 Active Project Holding $400,000.00
27-3090-179995-B Capital Contingent Approp 400,000.00
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