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Home My WebLink About2198 Authorizing and Approving Second Amendment to Predevelopment Agreement with TCO Missouri InvestmentsBILL NO. 2026-064 ORDINANCE NO. 2198 AN ORDINANCE AUTHORIZING AND APPROVING A SECOND AMENDMENT TO THE PREDEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF RIVERSIDE MISSOURI, AND TCO MISSOURI INVESTMENTS, LLC, AND AUTHORIZING OTHER DOCUMENTS AND ACTIONS RELATED THERETO WHEREAS, the CITY OF RIVERSIDE, MISSOURI ("City"), and TCO MISSOURI INVESTMENTS, LLC, a Missouri limited liability company ("TCO" or "Developer''), (the City and TCO are collectively referred to as the "Parties"), entered into a Predevelopment Agreement (the "Agreement"); and WHEREAS, Developer and City desire to amend the Agreement to provide for an additional extension of the Agreement to December 31, 2026. NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF ALDERMEN AS FOLLOWS: SECTION 1 -APPROVAL OF AMENDMENT TO THE PREDEVELOPMENT AGREEMENT. Extending the Term of the Predevelopment Agreement to September 30, 2026, is found to be in the best interests of the City and the orderly and lawful economic development of the City and is hereby approved in substantially the form as is attached hereto as Exhibit A and incorporated herein. SECTION 2 -AUTHORITY GRANTED. The Mayor is authorized to execute and deliver the Amendment to the Predevelopment Agreement in substantially the form attached hereto as Exhibit A. The Mayor, the City Administrator, and other appropriate officers, agents and employees and Special Counsel 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. SECTION 3 -EFFECTIVE DATE. This Ordinance shall be in full force and effect upon and after its passage and approval. 1 JC 17518814.1 BILL NO. 2026-064 ORDINANCE NO. 2198 BE IT REMEMBERED that the above was read two times by heading only, PASSED AND APPROVED by a majority of the Board of Aldermen and APPROVED by the Mayor of the City of Riverside, Missouri, this 6th day of October 2026. /s/ Kathleen L. Rose Kathleen L. Rose, Mayor ATTEST: /s/ Melissa McChesney Melissa McChesney Approved as to form: /s/ Joe Bednar Special Counsel to the City by Joe Bednar 2 JC 17518814 .1 BILL NO. 2026-064 ORDINANCE NO. 2198 EXHIBIT A AMENDMENT TO PREDEVELOPMENT AGREEMENT 3 JC 17518814.1 AMENDMENTTOPREDEVELOPMENTAGREEMENT THIS SECOND AMENDMENT TO THE PREDEVELOPMENT AGREEMENT (this "Amendment") is entered into and effective as of the 5th day of October, 2026, by and between the CITY OF RIVERSIDE, MISSOURI, a fourth-class city and political subdivision duly organized and existing under the laws of the State of Missouri (the "City"), and TCO MISSOURI INVESTMENTS, LLC, a Missouri limited liability company ("Developer"). WHEREAS, Developer and City have previously entered into that certain Predevelopment Agreement dated as of December 22, 2026 (the "Agreement") for the development of approximately twenty-five (25) acres of land in the City of Riverside, Missouri; WHEREAS, Developer and City desire to amend the Agreement to provide for further extension of the Agreement. NOW, THEREFORE, for and in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, City and Developer hereby agree as follows: 1. Amendment to Section 2.6 -Extension of the Term of the Agreement. The parties agree that the term of the Predevelopment Agreement ("Agreement") shall continue until to December 31 . 2026 ("Term"), unless otherwise agreed to in writing by the parties. In the event the parties do not reach agreement on a final Conceptual Master Plan as provided in Section 2.2 of this Agreement, either party may terminate this Agreement by giving written notice in the manner provided below in this Section, otherwise this Agreement shall remain in effect. In addition, either party may terminate this Agreement in the manner provided below in this Section, if the parties have failed to enter into the Final Development Agreement, prior to the expiration of the Initial Term, otherwise this Agreement shall remain in effect as to all or any portion of the Redevelopment Site which is not included in a Project which is the subject of a Final Development Agreement. Any party desiring to terminate this Agreement pursuant to this Section, shall provide the other party with written notice of such termination, not less than thirty (30) days prior to the effectiveness of such termination. Any of the time periods set forth in this Section may be extended by written agreement of the parties. Any party desiring to extend such time period shall make such request, in writing, to the other party. Acceptance shall also be made in writing, and such acceptance, by the other party shall not be unreasonably withheld. 2. All Other Terms of Agreement. Except as herein modified, the Agreement is hereby confirmed as being in full force and effect without default on the part of either City or Developer. 3. Defined Terms. Terms not otherwise defined herein shall have the meanings given to them in the Agreement. Page 1 4. Counter parts. This Amendment may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which shall constitute one amendment. To facilitate execution of this Amendment, the parties may execute and exchange by telephone facsimile or electronic e-mail, counterparts of signature pages. [Remainder of Page Intentionally Left Blank -Signature Page to Follow] Page2 IN WITNESS WHEREOF, the City and the Developer have caused this Agreement 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: /s/ Kathleen L. Rose Kathleen L. Rose, Mayor STATE OF MISSOURI ) ) ss COUNTY OF PLATTE ) On this 6th day of October 2026, 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. /s/ Melissa McChesney Notary Public [SEAL MELISSA MCCHESNEY NOTARY PUBLIC· NOTARY SEAL STATE OF MISSOURI MY COMMISSION EXPIRES SEPTEMBER 11, 2030 CLAY COUNTY COMMISSION #14524621 My Commission Expires: 9/11/2030 Page 3 "DEVELOPER": TCO MISSOURI INVESTMENTS, LLC By: /s/ Timothy L. O'Byrne Timothy L. O'Byrne Authorized Signatory STATE OF ) ) SS COUNTY OF ) On this day of October 2026, before me appeared Timothy L. O'Byrne, to me personally known, who, being by me duly sworn, did say that he is the Authorized Signatory of TCO Missouri investors, LLC, and that he is authorized to sign the instrument on behalf of said company and acknowledged to me that he executed the within instrument as said company'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. Notary Public [SEAL] My Commission Expires: Page 4