Title
An Ordinance approving a Cooperative Agreement by and among the City of Lee’s Summit, Missouri, and Land Reserve, Inc., for the Todd George Parkway Project.
Body
Issue/Request:
This ordinance will approve a Cooperative Agreement between the City and Land Reserve to facilitate the design, engineering and construction of the Todd George Parkway Project by Land Reserve which is located primarily on property owned today by Property Reserve, Inc., and which will be transferred to Land Reserve for development.
Key Issues:
Agreement governing the funding, design, engineering and construction of the Todd George Parkway project in the northern area of approximately 1000 acres of Property Reserve property.
Proposed City Council Motion:
I move for second reading of An Ordinance Approving a Cooperative Agreement by and among the City of Lee’s Summit, Missouri, and Land Reserve, Inc., for the Todd George Parkway Project.
Background:
On March 26, 2024, the City Council heard a presentation from City staff and representatives of Land Reserve, Inc., a Utah corporation (“LR”), regarding the development of approximately 4,203 acres of property within the City (collectively the “Property”). LR is under contract to purchase certain portions of the Property and anticipates purchasing the balance of the Property over time; after purchasing any portion of the Property, LR intends to sell such portions of the Property to third parties for usage and development.
The City Council approved Ordinance No. 9888 on April 9, 2024, which led to the execution of the Memorandum of Understanding between Suburban Land Reserve, Inc., and the City (the “MOU”). The purpose of the MOU is to coordinate for the planning, platting and zoning for development of the Property and the establishment of a financing plan for financing the construction of public infrastructure to serve development of the Property, as well as the attraction and inducement of certain private development to the Property. The Parties also seek to coordinate for the acquisition of portions of the Property for public institutional uses by the City and other governmental entities as the Property develops over time.
Since entering into the MOU, City staff has held regular meetings and work sessions with representatives of LR, to work on the tasks set forth in the MOU. The teams have developed a conceptual financing plan for the northern property.
On August 12, 2025, the City and Land Reserve teams delivered a conceptual presentation to the City Council for the purpose of receiving feedback from the City Council on the financing plan that is being developed for the northern property. The City Council provided positive feedback after this presentation to continue working on the financing plan for the northern property.
LR intends to market the northern Property for development in accordance with the Conceptual Site Plan as outlined in the MOU. The City intends to fund the Todd George Parkway project pursuant to the Capital Improvements Plan, which is intended to consist of improvements to Todd George Parkway from Colbern Road to Woods Chapel Road, and Strother Road improvements from existing Todd George to I-470, along with water line improvements and design and engineering costs that are expected to total a maximum of $24 million.
Impact/Analysis:
This Cooperative Agreement will facilitate the funding, design, engineering and construction of the Todd George Parkway that will extend through the approximately 1000 northern acres of Property Reserve property. This contract will accelerate the construction of Todd George Parkway, compared to the schedule that would be applicable to the project if the City proceeded with the project according to the CIP schedule.
This contract requires Land Reserve to adhere to all of the normal process and procedures that would be used by a contractor that was hired by the City for the project. The Cooperative Agreement includes procedures that govern these items:
• Schedule
• Conditions precedent to reimbursement
• Conditions precedent to final reimbursement
• Project Design Budget and description
• Process to request and receive reimbursement
• Process to add detailed project design budget and construction budget
Timeline:
Design and engineering work will commence promptly after the execution of this agreement and after Land Reserve completes the quality-based selection process for the design consultant. Construction is anticipated to commence according to the Schedule which is attached as Exhibit D to the Cooperative Agreement and after funds are appropriated by the City Council. The schedule calls for construction to commence no later than October 2027 and be finished by April 2030.
Presenter
Michael Park, Director of Public Works
David Bushek, Gilmore & Bell, P.C., Economic Development Legal Counsel for the City.