Title
An Ordinance approving the cooperative agreement between the City of Lee’s Summit, Missouri and the Downtown Lee’s Summit Community Improvement District for the Third Street Streetscape Enhancement Project, and authorizing the Mayor to execute the same. (F&BC 11/1/21)
Body
Key Issues:
--Another partnership project between the two public agencies to achieve shared goals
--Project completes gap in streetscape enhancements along 3rd St. that will tie in with corridor improvements from the City's 3rd Street Improvement Project (Jefferson to Blue Pkwy)
--Project will be packaged and bid along with the City's 3rd Street Improvement Project (Jefferson to Blue Pkwy) creating economies of scale & other efficiencies that make the streetscape project more financially feasible that if it was to stand alone. It is not anticipated to negative impact City's primary project in anyway.
--Cooperative agreement in essence allows CID to pay the City back for the improvements in annual installments for up to 10 years if necessary excluding an upfront design cost.
--City can fund these improvements with the planned repayment schedule without negatively impacting the City's other capital projects.
Proposed Council Motion:
FIRST MOTION: I move for second reading of an Ordinance approving the cooperative agreement between the City of Lee’s Summit, Missouri and the Downtown Lee’s Summit Community Improvement District for the Third Street Streetscape Enhancement Project, and authorizing the Mayor to execute the same.
SECOND MOTION: I move for adoption of an Ordinance approving the cooperative agreement between the City of Lee’s Summit, Missouri and the Downtown Lee’s Summit Community Improvement District for the Third Street Streetscape Enhancement Project, and authorizing the Mayor to execute the same.
Timeline:
Start: November 2021
Finish: July 2032
Presenter
Christal Kliewer Weber, Assistant City Manager
Recommendation
Recommendation: Staff recommends approval.
Committee Recommendation
Committee Recommendation: A motion was made by Councilmember Edson, seconded by Councilmember Shields, that TMP-2086 was recommended for approval to the City Council. The motion carried by a unanimous 3-0 vote (Mayor Pro-Tem Lopez "Absent").