Title
An Ordinance approving the Real Estate Sale Agreement between Southwestern Bell Telephone Company and the City of Lee’s Summit, Missouri, for acquisition of property for the Downtown Market Plaza Project.
(Note: First read by Council on May 16, 2023. Passed by unanimous vote.)
Body
Issue/Request:
An ordinance approving a real estate sale agreement for the City to acquire the west parking lot from AT&T (property owned in the name of Southwestern Bell Telephone Company), and a strip of land adjacent to the AT&T building, for the Downtown Market Plaza Project.
Key Issues:
Acquisition of property for the Downtown Market Plaza Project in exchange for compensation in the form of providing off-site parking and other constructed improvements for the AT&T property.
Proposed City Council Motion:
I move for adoption of an Ordinance approving the Real Estate Sale Agreement between Southwestern Bell Telephone Company and the City of Lee’s Summit, Missouri, for acquisition of property for the Downtown Market Plaza Project.
Background:
The City has been engaged in planning and preparation efforts to proceed with the Downtown Lee’s Summit Market Plaza Project (the “Project”) for many years, which is an area bounded by 2nd Street on the north, 3rd Street on the South, Green Street on the west and Johnson Street on the east, and extending across 3rd Street to include the parcel located at the southeast corner of 3rd Street and Green Street (the “Redevelopment Area”). The City has been in negotiations with AT&T (for property owned in the name of Southwestern Bell Telephone Company) for about seven years to acquire property from AT&T in furtherance of the Project.
City staff has successfully negotiated a real estate sale agreement for acquisition of the west parking lot and a strip of land adjacent to the AT&T office building which will be the location of a public drive to serve the Project.
Impact/Analysis:
The City will not make a direct cash payments to the selle...
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