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Home My WebLink About1275 Third Amendment to West Platte Road Redevelopment Plan with Briarcliff Devlopment Co BILL NO. 2014 -003 ORDINANCE NO. je 7„c AN ORDINANCE APPROVING THE THIRD AMENDMENT TO THE REDEVELOPMENT AGREEMENT WITH BRIARCLIFF DEVELOPMENT COMPANY IN CONNECTION WITH THE WEST PLATTE ROAD REDEVELOPMENT PLAN, AND APPROVING OTHER ACTIONS RELATING THERETO WHEREAS, pursuant to the Real Property Tax Increment Financing Allocation Redevelopment Act, Section 99.800 to 99.865 of the Revised Statutes of Missouri, as amended, the Tax Increment Financing Commission of Riverside, Missouri did recommend, after a public hearing on May 23, 2007 and pursuant to Resolution 2007 -05 -02 adopted May 23, 2007, and the Board of Aldermen of the City did approve, pursuant to Ordinance 2007 -69 adopted July 3, 2007, the "West Platte Road Redevelopment Plan" (the "Redevelopment Plan "); and WHEREAS, pursuant to Ordinance No. 2007 -90 adopted August 14, 2007, the City and Briarcliff Development Company, as developer, entered into that certain Redevelopment Agreement dated August 14, 2007 relating to implementation of the Redevelopment Plan; and WHEREAS, pursuant to Ordinance No. 2009 -87 adopted July 7, 2009, the City and Briarcliff entered into the First Amendment to the Redevelopment Agreement; and WHEREAS, pursuant to Ordinance No. 2009 -188 adopted December 22, 2009, the City and Briarcliff entered into the Second Amendment to the Redevelopment Agreement; and WHEREAS, the City and Briarcliff desire to amend certain terms in the Redevelopment Agreement as amended. NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS: Section 1. The Third Amendment to Redevelopment Agreement, in substantially the form attached hereto as Exhibit A (with such changes, additions and deletions as may be approved by the officer executing such document, such execution being conclusive proof of such approval), the execution and delivery of such Agreement, and the performance of the City's obligations thereunder are approved. The Mayor is authorized and directed to execute and deliver such Agreement on behalf of the City. Section 2. The Mayor, the City Clerk and other officers and agents of the City are hereby authorized and directed to execute all documents and take such steps as they deem necessary and advisable in order to carry out and perform the intent of this Ordinance. Section 3. This Ordinance shall take effect immediately upon passage. PASSED AND ADOPTED by the Board of Aldermen of the City of Riverside, Missouri this 7)s- day of January, 2014. S; 1 v (A// O , leen L. Rose, Mayor AfTES hSeaIJ Robin Ei't}rell, CiCi y Clerk 2 Exhibit A Third Amendment to Redevelopment Agreement THIRD AMENDMENT TO REDEVELOPMENT AGREEMENT THIS THIRD AMENDMENT TO REDEVELOPMENT AGREEMENT (this "Amendment ") is made and entered into as of this 7 t "day of January, 2014, by and between the CITY OF RIVERSIDE, MISSOURI (the "City "), a City and political subdivision duly organized and existing under the laws of the State of Missouri, and BRIARCLIFF DEVELOPMENT COMPANY, (the "Developer "), a Missouri S- Corporation. RECITALS A. On July 3, 2007 after due consideration of the recommendations of the Tax Increment Financing Commission of Riverside, Missouri, the City adopted: (1) Ordinance No 2007 -69 approving the West Platte Road Redevelopment Plan; and (2) Ordinance No. 2007 -90 authorizing the City to enter into a redevelopment agreement with the Developer. B. The City and the Developer entered into that certain Redevelopment Agreement dated August 14, 2007 (the "Original Redevelopment Agreement "), and amended it by that certain First Amendment to Redevelopment Agreement dated the 4th day of August, 2009, and again by that certain Second Amendment to Redevelopment Agreement dated December 22, 2009. The Original Redevelopment Agreement, as amended by the First and Second Amendments to Redevelopment Agreement, and this Third Amendment, is the "Agreement ". AGREEMENT NOW, THEREFORE, in consideration of the premises and promises contained herein and other good and valuable consideration, the adequacy and sufficiency of which are hereby acknowledged, the parties agree that the Original Redevelopment Agreement as amended by the First and Second Amendments, is amended as follows: Section 1. Maintenance. Section 3.4(c) is hereby amended to read as follows: "The Developer may incur certain maintenance costs for the Linear Park. Such costs may be submitted to the City for reimbursement following the procedure in this Agreement for reimbursement of Reimbursable Project Costs, or, notwithstanding any other provision of this Agreement that may be to the contrary, such costs may be reimbursed by the City from any other available public funds; provided that in either situation, such costs shall be reimbursed only to the extent approved by the City and to the extent the aggregate total of all such reimbursed maintenance costs are less than $45,000." Section 2. Entire Agreement. The parties agree that the Original Redevelopment Agreement, as amended by the First and Second Amendments, and by this Third Amendment, constitutes the entire agreement between the parties and that no other agreements or representations other than those contained in the Agreement have been made by the parties. Section 3. Counterparts. This Third Amendment may be executed in multiple counter parts, each of which shall constitute one and the same instrument. Section 4. Recording. This Third Amendment shall be recorded in the Platte County Recorder's office. Section 5. Ratification and Confirmation. The parties hereby ratify and confirm the continued viability, force and effect of the Original Redevelopment Agreement, as expressly modified by the First and Second Amendments and this Third Amendment. IN WITNESS WHEREOF, the City and the Developer have caused this Amendment to be executed in their respective names and the City has caused its seal to be affixed thereto, and attested as of the date first above written. "CITY ": CITY OF RIVERSIDE, MISSOURI BY: �iXla��✓� Kathleen L. Rose, Mayor • r 1SEAL] Atte w �'_•.`.' ' / /i Robin Liftrell, City Clerk STATE OF MISSOURI ) ) SS COUNTY OF PLATTE ) On this 7 -' day of January, 2014, before me appeared Kathleen L. Rose, to me personally known, who, being by me duly sworn, did say that she is the Mayor of the CITY OF RIVERSIDE, MISSOURI, a political subdivision of the State of Missouri, and that the seal affixed to the foregoing instrument is the seal of said City, and said instrument was signed and sealed in behalf of said City by authority of its Board of Aldermen, and said individual acknowledged said instrument to be the free act and deed of said City. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal in the County and State aforesaid, the day and year first above written. ROBIN L. LITTRELL NotaryPOblic- Notary Sal Notary Public State of Missouri, Clay County [SEAL] Commission 1 11380831 My Commission Expires Mer 8.2015 My Commission Expires: /wn "DEVELOPER ": BRIARCLIFF DEV LOPMENT CO ' A NY By: President / STATE OF MISSOURI ) ) SS COUNTY OF C_ ct. ) On this Vg day of January 2014, before me appeareduJ11_1Cg4IQ`ime personally known, who, being by me duly sworn, did say that he is the President of BRIARCLIFF DEVELOPMENT COMPANY, and that he is authorized to sign the instrument on behalf of said corporation by authority of its board of directors, and acknowledged to me that he executed the within instrument as said corporation's act and deed. IN TESTIMONY WHEREOF, I have hereunto set my hand in the County and State aforesaid, the day and year first above written. BARBARA DEBUSK / Notary Pc - Notary State ubli et Missouri Seal Commissioned for Jackson County Notary Public My Commission Expires: August 05, 2016 Commission_ Number: 12614214 [SEAL] My Commission Expires: c6' 5 " �D