Title
An Ordinance approving Amendment No. 2 to the Budget for the Fiscal Year ending June 30, 2023, as adopted by Ordinance No. 9441, Ordinance No. 9442, Ordinance No. 9449, Ordinance No. 9450 and Ordinance No. 9451, by allocating funds to the Green Street Improvements Fund for the City of Lee’s Summit, Missouri.
(Note: First read by Council on September 6, 2022. Passed by unanimous vote.)
Body
Issue/Request:
Ordinance to approve a budget amendment to add additional funds to the Green Street Improvements Fund for the Downtown Market Plaza Project, in the amount of $4,110,882, and add the additional authority to expend moneys from this Fund for environmental remediation and demolition in addition to the previously authorized purposes.
Key Issues:
Appropriation of the remaining ARPA funds for the Downtown Market Plaza Project.
Proposed City Council Motion:
I move for adoption of an Ordinance approving Amendment No. 2 to the Budget for the Fiscal Year ending June 30, 2023, as adopted by Ordinance No. 9441, Ordinance No. 9442, Ordinance No. 9449, Ordinance No. 9450 and Ordinance No. 9451, by allocating funds to the Green Street Improvements Fund for the City of Lee’s Summit, Missouri.
Background:
On April 20, 2021, the City Council passed Ordinance No. 9123 which approved a Development Structure Agreement for the Downtown Market Plaza Project (the “Downtown Project”) between the City, Lane4 Property Group, Inc. (the “Developer”) and Biederman Redevelopment Ventures (“BRV”). That Agreement was executed on May 21, 2021.
On April 20, 2021, the City Council also passed Ordinance No. 9124 which approved Amendment #12 to the Fiscal Year 2022 City Budget. This ordinance appropriated $3,530,000 to the Green Street Improvements Fund for the Downtown Project, from funds previously accumulated by the City from the sale of surplus property and the release of a property acquisition option.
On May 3, 2021, the City Council approved Ordinance No. 9142, which approved...
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