File #: 230583    Version: Name:
Type: Ordinance Status: Passed
File created: 6/29/2023 In control: Council
On agenda: 7/13/2023 Final action: 7/13/2023
Title: Sponsor: Councilperson Katheryn Shields Approving an Industrial Development Plan for EPD3 Ellison, LP for the purpose of acquiring, equipping and constructing a project for industrial development consisting of the acquisition, purchase, construction and development of an 11-story, 68 unit multifamily apartment building (the "Project") located at 300 West Armour Boulevard, 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 EPD3 Ellison, LP; authorizing the issuance of taxable industrial revenue bonds in an amount not to exceed $11,500,000; authorizing and approving other documents; authorizing certain other actions in connection with the issuance of said bonds; and directing the City Clerk to provide a copy of this Ordinance to the Director of the Missouri Department of Economic Development.
Sponsors: Katheryn Shields
Attachments: 1. Ellison Ch100 Docket Memo v.2, 2. Ellison IDP 7-3-23 v2, 3. Ellison IDP - Final, 4. 230583 cs to org ord-com, 5. 230583.Authenticated Ordinance C.S.
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[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 230583

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Sponsor: Councilperson Katheryn Shields

Approving an Industrial Development Plan for EPD3 Ellison, LP for the purpose of acquiring, equipping and constructing a project for industrial development consisting of the acquisition, purchase, construction and development of an 11-story, 68 unit multifamily apartment building (the "Project") located at 300 West Armour Boulevard, 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 EPD3 Ellison, LP; authorizing the issuance of taxable industrial revenue bonds in an amount not to exceed $11,500,000; authorizing and approving other documents; authorizing certain other actions in connection with the issuance of said bonds; and directing the City Clerk to provide a copy of this Ordinance to the Director of the Missouri Department of Economic Development.

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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 EPD3 Elliso...

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