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File #: BILL NO. 22-256    Name:
Type: Ordinance Status: Passed
File created: 11/22/2022 In control: City Council - Regular Session
On agenda: 12/13/2022 Final action: 12/20/2022
Title: An Ordinance approving a plan for a Chapter 100 Project for the Raintree Village Project. (Note: First read by City Council on December 13, 2022. Passed by unanimous vote.)
Attachments: 1. Ordinance, 2. Exhibit A: Chapter 100 Plan
Related files: 2022-5303, BILL NO. 23-235
Title
An Ordinance approving a plan for a Chapter 100 Project for the Raintree Village Project.
(Note: First read by City Council on December 13, 2022. Passed by unanimous vote.)

Body
Issue/Request:
This is an ordinance to approve a Chapter 100 Plan for the Scenic Development Senior Care Project in the Raintree Village area and authorizing the issuance by the City of its taxable industrial development revenue bonds in the aggregate principal amount of not to exceed $48,350,000 to finance costs of the project to be constructed by the company CCRC of Lee’s Summit, LLC (“Developer”), which is an affiliate of Scenic Development. The Bonds will be issued pursuant to the provisions of Sections 100.010 to 100.200 of the Revised Statutes of Missouri, as amended, and Article VI, Section 27(b) of the Missouri Constitution, as amended (collectively, the “Act”).

Key Issues:
Developer is requesting that the City approve incentives through a Chapter 100 Plan to provide sales tax exemption on construction materials and a fixed schedule of payments in lieu of taxes (PILOTs) for 10 years for the residential project.

Motion:
I move for adoption of An Ordinance approving a plan for a Chapter 100 Project for the Raintree Village Project.

Background:
At the July 12, 2022 Council meeting, the City Council heard a conceptual presentation about the incentive request presented by Developer for this project and a community improvement district for the commercial portions of the project. A majority of the City Council expressed an interest in considering the incentive request through the formal Chapter 100 process. The City Council did not vote or render any type of final or binding decision as part of the conceptual presentation.

The Project to be financed by the Bonds consists of a continuing care retirement community with (1) a senior residential building of approximately 126 units (the “Senior Residential Building”), consisting of approximately 56 independent living units, 34 ...

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