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File #: 220694    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 8/10/2022 In control: Council
On agenda: 8/18/2022 Final action: 9/15/2022
Title: Authorizing the City Manager to execute the Second Amendment to the Restated Lease and Acquisition Agreement with Block 66, LLC, to allow the City's contribution to be paid as a offset to the purchase price
Attachments: 1. Ordinance 220694 Fact Sheet FINAL, 2. Block 66 Lease Fiscal Note, 3. Restated Lease and Acquisition Agreement (fully executed), 4. First Amendment To Restated Lease And Acquisiton Agreement, 5. Second Amendment to Restated Lease and Acquisition Agreement - City of KCMO Block 66 -Final, 6. Authenticated Ordinance 220694

ORDINANCE NO. 220694

 

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Authorizing the City Manager to execute the Second Amendment to the Restated Lease and Acquisition Agreement with Block 66, LLC, to allow the City’s contribution to be paid as a offset to the purchase price

 

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WHEREAS, the City and Swope Community Builders previously executed that certain Restated Lease and Acquisition Agreement (the “Agreement”) on or about April 28, 2017, as authorized pursuant to Ordinance No. 170218, for the purpose of providing for the assemblage, acquisition and redevelopment of specific parcels within the East Village; and

 

                     WHEREAS, Swope Community Builders subsequently assigned its interests under the Agreement to Block 66, LLC, with the City’s consent; and

 

WHEREAS, the parties entered into the First Amendment to the Restated Lease and Acquisition Agreement on November 13, 2017; and

 

                     WHEREAS, the parties now wish to provide certain modifications to allow for the more expedited remediation of certain blighted parcels in the East Village area and to adjust the mechanism for the City’s contribution; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the City Manager is authorized to execute the Second Amendment to the Restated Lease and Acquisition Agreement for the purposes recited herein. A copy of the Second Amendment in substantial form is attached hereto.

 

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Approved as to form and legality:

 

 

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Emalea Black

Associate City Attorney