Title
AN ORDINANCE APPROVING AMENDMENT TO FIRST AMENDED AND RESTATED COOPERATIVE AGREEMENT TO FACILITATE INSTALLATION OF NEW STREETLIGHTS BY THE CITY OF LEE’S SUMMIT; AND AUTHORIZING FURTHER ACTIONS RELATED THERETO. (F&BC 1-8-18)
Body
Proposed Council Motion:
FIRST MOTION: I move for second reading of AN ORDINANCE APPROVING AMENDMENT TO FIRST AMENDED AND RESTATED COOPERATIVE AGREEMENT TO FACILITATE INSTALLATION OF NEW STREETLIGHTS BY THE CITY OF LEE’S SUMMIT; AND AUTHORIZING FURTHER ACTIONS RELATED THERETO.
SECOND MOTION: I move for adoption of AN ORDINANCE APPROVING AMENDMENT TO FIRST AMENDED AND RESTATED COOPERATIVE AGREEMENT TO FACILITATE INSTALLATION OF NEW STREETLIGHTS BY THE CITY OF LEE’S SUMMIT; AND AUTHORIZING FURTHER ACTIONS RELATED THERETO.
Key Issues:
- Strother Interchange TDD funding provided for Street Lighting Replacement on Ralph Powell Road
- City’s intends to replace private street lighting on behalf of the TDD with City street lighting using TDD Funds.
- City to assume ownership and maintenance of street lighting on Ralph Powell Road; and the TDD to absolve ownership of street lighting on Ralph Powell Road.
- Upon transfer of street lighting responsibility from TDD to City, the TDD has no remaining obligations or maintenance expenses; the TDD may be terminated.
Background:
The Strother Interchange Transportation Development District (TDD) was created in January, 2000. The TDD imposed a one-half percent (0.5%) sales tax (“TDD Sales Tax”) as approved by the qualified voters within the TDD for purposes of financing the District's road improvement project. The TDD Sales Tax became effective on May 1, 2000 and has a term of 35 years from its effective date unless earlier terminated as permitted under the TDD Act.
The I-470 Community Improvement District (CID) was created in February, 2007 by City Council Ordinance No. 6340.
The TDD, the City, the CID, Atcheson, Haas, L.L.C., and Ralph Powell Road Development, L.L.C. entered into the...
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