Title
An Ordinance authorizing the City of Lee’s Summit, Missouri to enter into a Disbursement Agreement with the I-470 Western Gateway Transportation Development District.
(Note: First read by Council on April 8, 2025. Passed by unanimous vote.)
Body
Issue/Request:
This Ordinance will authorize the City to enter into a Disbursement Agreement (the “Disbursement Agreement”) with the Western Gateway TDD setting out the terms under which the City will receive and disburse the cost share funds received from the Missouri Highway and Transportation Commission ("MHTC" or the "Commission") and the terms under which the City will deposit $1,000,000 in City general funds to be disbursed for costs of the I-470 Interchange Project which is also the Cost Share Project (as defined below).
Key Issues
The I-470 Western Gateway Transportation Development District (the “Western Gateway TDD”), was formed on May 24, 2018 by order of the Circuit Court of Jackson County, Missouri, was approved by the qualified voters at an election held on August 28, 2018, and is a political subdivision of the State of Missouri transacting business and exercising powers granted to it pursuant to the Transportation Development District Act, Sections 238.200 through 238.275, RSMo.
The City and the Western Gateway TDD are parties to a Cooperative Agreement dated as of March 9, 2017, as assigned under the Assignment and Assumption of Cooperative Agreement, dated September 4, 2018 (the “Cooperative Agreement”), under which Cooperative Agreement the City administers the sales tax revenues received by the Western Gateway TDD.
On September 23, 2020, the Western Gateway TDD and the Commission entered into a Cost Share Agreement for public improvements designated as Commission Project No. STP-3400(444)/J413470 (the “Cost Share Project”) relating to the View High Drive and I/470 interchange (the “Original Cost Share Agreement”).
In order to allow for increased costs to be reimbursed by the Commission, the District and the Commission are in the process of entering into a Cost Share [Economic Development] Program Supplemental Agreement (the “Supplemental Cost Share Agreement,” and along with the Original Cost Share Agreement, as supplemented by the Supplemental Cost Share Agreement being the final “Cost Share Agreement”).
The City has previously agreed to fund $1,000,000 of costs for the I-470 Interchange Project which the Cost Share Project expenses are eligible to also fund.
The City desires to enter into the Disbursement Agreement with the Western Gateway TDD setting out the terms under which the City will receive and disburse the cost share funds received from the Commission and the terms under which the City will deposit $1,000,000 of City funds to be disbursed for costs of the Cost Share Project.
Proposed City Council Motion
I move for adoption of an Ordinance authorizing the City of Lee’s Summit, Missouri to enter into a Disbursement Agreement with the I-470 Western Gateway Transportation Development District.
Timeline
The interchange project is anticipated to commence this year and be completed after the construction cycle which may end this year of in 2026.
Presenters
Paragon Star Team
David Bushek, Chief Counsel of Economic Development and Planning