Title
An Ordinance approving the Assignment Agreement among NLV Farm Office, LLC, Brittany Harrington and the City of Lee's Summit, Missouri, for the property designated as Redevelopment Project M, containing the Farm Office and the Dairy Manager House as Historic Preservation Improvements, pursuant to the New Longview Tax Increment Financing Plan.
(Note: First read by Council on November 7, 2023. Passed by unanimous vote.)
Body
Issue/Request:
Approval of an Assignment Agreement to allow NLV Farm Office, LLC, a subsidiary of Sunflower Development, to transfer the property designated as Redevelopment Project M of the New Longview Tax Increment Financing Plan, which contains the historic preservation improvements consisting of the Farm Office and Dairy Manager House, to the proposed buyer Brittany Harrington and allow her to receive an assignment of the right to receive TIF reimbursement for this property.
Key Issues:
Approval of the assignment and transfer of the property containing the historic preservation improvements consisting of the Farm Office and Dairy Manager House to a buyer to allow for redevelopment of the property and the structures, and reimbursement to the property owner from TIF revenues.
Proposed City Council Motion:
I move for adoption of an Ordinance Approving an Assignment Agreement among NLV Farm Office, LLC, Brittany Harrington and the City of Lee's Summit, Missouri, for the property designated as Redevelopment Project M, containing the Farm Office and the Dairy Manager House as Historic Preservation Improvements, pursuant to the New Longview Tax Increment Financing Plan.
Background:
The New Longview Tax Increment Financing Redevelopment Plan was adopted by the Lee’s Summit City Council on December 21, 2015, through the approval of Ordinance No. 7778. On January 22, 2019, the Council approved Ordinance No. 8548 which approved the Second Amendment to the Second Amended and Restated Longview Farm Tax Increment Financing Plan, the First Am...
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