Title
Public Hearing: The Highway 291 South LCRA Redevelopment Plan; City of Lee’s Summit, applicant
Body
Issue/Request:
This is a public hearing to consider The 291 South LCRA Redevelopment Plan which has been prepared by City staff for the purpose of reimbursing the City for costs incurred by the City for the 291 North Interchange Project, including the City’s share of the interchange project and funding to relocate the Missouri Highway Patrol Troop A Headquarters facility in the maximum combined amount of $7,113,000.
Key Issues:
Approval of an LCRA Redevelopment Plan to establish a funding mechanism to reimburse the City for costs incurred for the 291 North Interchange Project.
Background:
In June 2014, the City Council adopted Ordinance No. 7472, which determined that certain real property within the Missouri Highway 291 and US Highway 50 corridors was blighted and designated the “US 50 / M-291 Highway Urban Renewal Area” pursuant to the Land Clearance for Redevelopment Authority Act set forth in Chapter 99 of the Revised Statutes of Missouri (the “LCRA Act”). This Redevelopment Plan provides for the implementation of redevelopment efforts in certain parts of the area designated as the Redevelopment Area as defined in the Plan, which will be treated as part of the US 50 / M-291 Highway Urban Renewal Area.
The City has entered into the Cost Share Agreement with the Missouri Highway and Transportation Commission (MHTC) to establish the funding arrangements for the Interchange Project. The City has also entered into the Road Relinquishment Agreement to establish the arrangements under which the City will assume ownership and maintenance responsibility for certain parts of Blue Parkway. The City will fund certain Interchange Project costs, including costs that have a secured funding source from the City and certain costs which are intended to be reimbursed to the City from approved reimbursement sources. This Redevelopment Plan is intended to establish a source of reimbursement to the City for the Reimbursable Project Costs which are set forth in the Reimbursable Project Costs Schedule.
On September 27, 2023 after the posting of proper notice of the consideration of this issue and after all parties in interest were provided the opportunity to be heard, the Land Clearance for Redevelopment Authority Board of Commissioners (the “LCRA”) considered the LCRA Redevelopment Plan, and thereafter the LCRA adopted Resolution 2023-4, which recommended that the City Council approve the LCRA Redevelopment Plan, make the required findings to adopt the LCRA Redevelopment Plan, and delegated to the City all of the authority, powers and functions of the LCRA as granted to the LCRA under the LCRA Act with respect to the planning and undertaking of the LCRA Plan and the land clearance project authorized therein within the Redevelopment Area, and the City will thereby be authorized to carry out and perform such authority, powers and functions for the LCRA.
Impact/Analysis:
If this LCRA Plan is approved, it will authorize up to $7.113 million in potential future reimbursement to the City for costs incurred by the City for the 291 North Interchange Project. Approval of this Redevelopment Plan will not cause any additional expenditures by the City, as the City is already obligated to incur the costs for the Interchange Project and the Troop A relocation.
Timeline:
Construction of the 291 North Interchange project is expected to begin in July 2024 and substantially complete in November 2025. A schedule is attached to the LCRA Plan as Exhibit 8.
Presenter
David Bushek, Chief Counsel of Economic Development and Planning
Recommendation
Recommendation: Staff recommends approval of the LCRA Plan.
Committee Recommendation
Committee Recommendation: The LCRA Board of Commissioners unanimously recommended approval of the LCRA Plan.