SECOND COMMITTEE SUBSTITUTE FOR ORDINANCE NO.
210514, AS AMENDED

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Approving an Industrial Development Plan for Lux Living, LLC for the purpose of the acquisition and construction of a commercial multifamily apartment complex and a related parking garage, located at 3948 Main Street, Kansas City, Missouri; authorizing and approving various agreements for the purpose of setting forth covenants, agreements and obligations of the City and Lux Living, LLC or its affiliate or designee, including a $600,000.00 City contribution from previously appropriated 4th District PIAC funds; authorizing the issuance of taxable industrial development revenue bonds in a maximum aggregate principal amount not to exceed $32,000,000; authorizing and approving certain other documents; authorizing certain other actions in connection with the issuance of said bonds; directing the City Manager to include an appropriation in a proposed budget for fiscal year 2023-24 to reimburse the 4th District PIAC fund up to $600,000.00 for funds utilized for the Project; and recognizing this ordinance as having an accelerated effective date.
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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 (the "Constitutional Provisions") and the City of Kansas City Charter to issue its revenue bonds for the purpose of paying all or a part of the cost of purchasing, constructing, extending or improving any facility to be leased or otherwise disposed of pursuant to law to private persons or corporations for manufacturing, commercial, warehousing and industrial development purposes, including the real estate, buildings, fixtures and machinery, such revenue bonds to be paid solely from revenue received from such project; and
WHEREAS, inasmuch as the Constitutional Provisions provide authority to is...

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