Title
Presentation: Request by Lee’s Summit R-7 School District Regarding Purchase of Property from Unity Realty, LLC, at 1901 NW Blue Parkway for Relocation of Hazel Grove Elementary School
Body
Issue/Request:
The Lee’s Summit R-7 School District seeks to purchase six separate parcel south of Colbern Road (primary address at 1901 NW Blue Parkway), which collectively total about 28.6 acres of property from Unity Realty, LLC, for the purpose of relocating Hazel Grove Elementary School. The School District making these two specific requests of the City Council:
1. Approve Purchase of the Property - Section 5.01.B of the Redevelopment Agreement for the Blue Parkway and Colbern Road Redevelopment Area among the City of Lee’s Summit, Unity School of Christianity, Bernell K. Rice and the Blue Parkway and Colbern Road Redevelopment Corporation, dated May 1, 2012, as amended by the First Amendment on May 23, 2012 and the Second Amendment on June 27, 2016 (the “Redevelopment Agreement”) provides that no sale, transfer or other conveyance of the Phase 1 Property may be made to an entity that is exempt from real property taxes without the prior written approval of the City. The School District is requesting that the City approve the requested purchase of the property by the School District, as a tax-exempt entity.
2. Waive the required annual compensation payment to the City - Section 5.01.B of the Redevelopment Agreement further provides that the sale of the property to a tax-exempt entity would require the purchaser to make an annual payment to the City in an amount equal to the CID Special Assessments that would otherwise be paid for the property if it were owned by a taxable entity. The School District is requesting a full waiver of this contract requirement, so that no payment would be made to the City under this contract requirement.
Key Issues:
Approval of the sale of property from Unity Realty, LLC, to the School District and waiver of the required reimburse...
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