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[COMMITTEE SUBSTITUTE FOR] ORDINANCE NO. 230709

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Sponsor: Councilmember Kevin O'Neill

Authorizing the Director of Public Works to execute a Cooperative Agreement with the Kansas City Airport Parking, LLC for the N.W. Cookingham/Interstate 29 Roundabout Project; appropriating $700,000.00 for the project; authorizing the Director of Public Works to expend a maximum amount of $700,000.00; and designating requisitioning authority.

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WHEREAS, Kansas City Airport Parking, LLC ("Developer") proposes a mixed office/commercial development project at the intersections of Prairie View and Cookingham & I-29 for the construction of several restaurants and hotels, along with retail and office space, (the "Project"), which includes a public improvements project consisting of the construction of two (2) roundabouts along Cookingham Drive, with the first to replace the intersections of Prairie View and Cookingham & I-29 Southbound offramps and Cookingham with a 5-leg roundabout, and with the second to replace the intersection of I-29 northbound offramps and Cookingham with a roundabout and include a 5th leg to provide access to the Ambassador Building development (the "Public Improvements"); and

WHEREAS, Developer further intends to construct other improvements near the roundabouts, and to apply for the creation of a tax increment financing district in the area; and

WHEREAS, City agrees with the Developer that the construction of the roundabouts would provide a public benefit; and

WHEREAS, the City Council adopted ordinance No. 230404 directing the City Manager to identify funding for these Public Improvements; and
WHEREAS, in order to allow the project to proceed on a timely schedule, it is necessary for the City to advance funding for the project; and

WHEREAS, the Director of the Public Works Department is authorized to exercise the Department's authority to execute the Cooperative Agreem...

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