HomeMy WebLinkAbout2004-050 - Extension of Preliminary Development Agreement with Kessinger/Hunter & Company~~ A
BILL N0.2004-50
ORDINANCE N0.2004-50
AN ORDINANCE APPROVING AN EXTENSION OF THE PRELIMINARY
DEVELOPMENT AGREEMENT BETWEEN THE CITY OF RIVERSIDE, MISSOURI
AND KESSINGER/HUNTER & COMPANY RELATING TO THE L-385 LEVEE
REDEVELOPMENT PLAN.
WHEREAS, the City of Riverside, Missouri ("City"), after recommendation by the Tax
Increment Financing Commission of Riverside, Missouri ("T1F Commission"), approved the L-385 Levee
Redevelopment Plan; and
WHEREAS, the City is the owner of approximately 525 acres of land located in the
Redevelopment Area, as more particularly described in the Agreement (defined below); and
WHEREAS, the City and Kessinger/Hunter & Company (the "Developer") entered into a
Preliminary Development Agreement dated April 1, 2004 ("Agreement") which provided that the Target
Determination Date by which the parties were to enter into a definitive agreement would be May 31,
2004; and
WHEREAS, the parties desire to extend the Target Determination Date to November 1, 2004.
NOW, THEREFORE, be it ordained by the Board of Aldermen of the City of Riverside, Missouri as
follows:
1. The extension of the Target Determination Date set forth in the Agreement to Noyezgber
1, 2004 is approved. The First Amendment to the Preliminary Development Agreement extending -such
date is hereby approved in substantially the form presented with this Ordinance (a copy of which
document is on file with the City Clerk), and the City is hereby authorized to enter into, execute and
deliver such document with such changes therein as shall be approved by the officials of the City
executing such documents, such officials' signatures thereon being conclusive evidence of their approval
and the City's approval thereof.
2. The Mayor, the City Administrator, and other appropriate officers and agents of the City
are hereby authorized to take such further actions and execute such other documents as may be necessary
or desirable to carry out and comply with the intent of this Ordinance, and to carry out, comply with and
perform the duties of the City with respect to the Agreement.
PASSED AND APPROVED, this 1~` day of June, 2004.
Attest:
[seal]
L 'se Rusick, City Clerk
Betty Bur ayor
,~..r ... 1 .i ~ ~..
~ 't
i~,
. ..
FIRST AMENDMENT
TO
PRELIMINARY DEVELOPMENT AGREEMENT
This First Amendment is entered into as of June ~, 2004, by and between the City of
Riverside, Missouri (the "City") and Kessinger Hunter & Company, a Missouri limited liability
company ("Developer").
WHEREAS, the City and Developer entered into a Preliminary Development
Agreements dated April 1, 2004 ("Agreement") which provided that the Target Determination
Date by which the parties were to enter into a definitive agreement would be May 31, 2004; and
WHEREAS, the parties desire to extend the Target Determination Date to November 1,
2004.
NOW, THEREFORE, for and in consideration of the premises, and the mutual covenants
herein contained, the City and Developer agree as follows:
1. The Target Determination Date set forth in Article III, Section 3 is extended to
November 1, 2004 and the Agreement is amended by deleting the date of "May 31, 2004" set
forth in Article III, Section 3 of the Agreement and inserting, in its place, the date of "November
1, 2004."
The Agreement, as amended hereby, shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have set their hands the day and year first above
written.
ATTEST ~'
[SE L '
C~ y Clerk
ATTEST:
l
Secretary
CITY OF RIVERSIDE, MISSOURI
By:
Betty Bur ,Mayor
KESSINGER HUNTER & COMPANY
By: KHC, INC., its managing member
John eHardt, Vice-President
~ Terms used herein but not defined in this Amendment shall have the meaning ascribed to such term in
the Agreement, as amended hereby.
,~ .r ... lr .i ~ r.
t 't T rr
;r .. y
STATE OF MISSOURI )
ss.
COUNTY OF PLATTE )
On this't'~ tR~day of ~A~ ~ , 2004, before me, the undersigned, a Notary
Public in and for the County end State aforesaid, came Betty Burch, Mayor of the City of
Riverside, Missouri, a political subdivision of the State of Missouri, and Louise Rusick, City
Clerk of Riverside, Missouri, who are personally known to me to be the same persons who
executed, as such officials, the within instrument on behalf of said municipality, and such
persons duly acknowledged the execution of the same to be the act and deed of said
municipality.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal, the
day and year last above written. ~ '
O
OT UBLIC
My Commission Expires: ~pk~, ~ ~ apm~
Houv PHILUPs
NOTARY PUBLIC -NOTARY SEAL
State of Mlesoutl
Cby County
My ComrnMNOn ExpltN Motor 46,4008
On this day of 2004, before me, the undersigned, a Notary
Public in and for the County an tate aforesaid, came John DeHardt, Vice-President of KHC,
INC., the managing member of Kessinger Hunter & Company, who is personally known to me to
be the same person who executed the within instrument on behalf of Kessinger Hunter &
Company, and such person duly acknowledged the execution of the same to be the act and deed
of Kessinger Hunter & Company.
STATE OF MISSOURI )
SS.
COUNTY OF JACKSON )
IN WITNESS WHEREOF,
day and year last above written.
My Commission Expires:
~.30 ~OD~
C:VJocuments and SettingsVohnV.ocal Settings\Temporary Internet
Files\OLKA\Firsl Amendment W Preliminary Development Agreement
(K0386699).DOC
~~ .~
1 .i ~ n.
I have hereunto set hand affixed my official seal, t e
NO Y P LIC
~~
~ ~ ~ R8ee1
~f.~.~
1 ~r T Ir~