committeesub

[COMMITTEE SUBSTITUTE FOR]ORDINANCE NO. 240346

title

Sponsor:  Councilmember Melissa Patterson-Hazley

COMMITTEE SUBSTITUTE

Directing the City Manager to identify property that could facilitate transit-oriented development, including a parking facility, to service the Vine District and to issue a solicitation for the design and construction of a parking facility and related transit-oriented development; estimating revenue in the 2025A Taxable Special Obligation Bond Fund; appropriating the amount of $20,000,000 from the Unappropriated Fund Balance of the 2025A Taxable Special Obligation Bond Fund; designating requisitioning authority; authorizing the Director of Finance to close project accounts upon completion; and establishing effective dates.

body

WHEREAS, the Third Council District has a disproportionate share of disadvantaged transportation tracts as defined by the United States Government Equity and Justice40 Initiative, including but not limited to, being in the 95th percentile for count of vehicles at major roads within 500 meters and 56th percentile average of relative cost and time spent on transportation, illustrating that Third Council District residents are more reliant on cars as a matter of pervasive transportation barriers; and

                     WHEREAS, there are no city funded multi-level parking facilities in the 3rd Council district and there is need for parking adjacent to city owned assets in the Vine District area that are critical to the tourism economy in this City; NOW THEREFORE,

                     BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

                     Section 1. That the City Manager is directed to identify City owned property that could facilitate transit-oriented development, including a parking facility, to service the Vine District, issue an RFP for design build, design bid build, or construction manager-at-risk services for said parking garage within 60 days of the effective date of this ordinance, use best efforts to select a responsive proposer within 120 days of the effective date of this ordinance, develop a plan of finance, and develop a construction timeline to ensure that said transit-oriented development, including a parking facility, is complete in time for use by visitors attending 2026 World Cup matches within the City.

                     Section 2. Estimating revenue in the amount of $20,000,000.00 in Fund No. 3453, 2025A Taxable Special Obligation Bond Fund in the following account:

AL-3453-120000-590000                                          Bond Proceeds                                                               $20,000,000.00

                     Section 3. That the sum of $20,000,000.00 is hereby appropriated from in Fund No. 3453, 2025A Taxable Special Obligation Bond Fund, in the following account:

AL-3453-075110-B-07VGARAG                     Vine District Transit-Oriented

Development                                                                $20,000,000.00

                     Section 4. That the Director of General Services is hereby designated as requisitioning authority for Account No. AL-3453-075110-B-07VGARAG.

                     Section 5.  That the Director of Finance is hereby authorized to close accounts, open encumbrances and retainage related to the account in Section 3 and return the unspent portion to the Fund Balance from which it came upon the earliest of: (i) the provisions of this ordinance; (ii) final maturity of financing or (iii) five years after issuance.

Section 6.  That the City Council hereby declares its official intent to reimburse itself for certain expenditures made within sixty (60) days prior to or on and after the date of this Ordinance with respect to appropriations in Section 3, (the “Appropriation”) with the proceeds of bonds expected to be issued by the City. The maximum principal amount of bonds expected to be issued for the Appropriations is not to exceed $20,000,000.00.  This constitutes a declaration of official intent under Treasury Regulation 1.150-2.

                     Section 7. That Section 1 of this ordinance shall become effective ten (10) days after passage pursuant to Section 503(b)(1) of the City Charter, and Sections 2 through 6 of this ordinance shall become effective May 1, 2024.  

end

______________________________________________________

I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred.

                                                                                                                               _______________________

                                  Tammy L. Queen

                                          Director of Finance

                                                                                                                              Approved as to form:

                                                                                                                              ________________________

                                                                                                                              Samuel Miller

                                                                                                                              Assistant City Attorney