HomeMy WebLinkAbout2009-02-24 IDA MinutesMINUTES
REGULAR MEETING
THE INDUSTRIAL DEVELOPMENT AUTHORITY
OF THE CITY OF RIVERSIDE, MISSOURI
Tuesday, February 24, 2009
5:00 p.m.
The Industrial Development Authority of the City of Riverside, Missouri, met in regular session at City Hall,
2950 NW Vivion Road, Riverside, Missouri.
President Wayne Snyder called the meeting to order at 5:05 p.m. Answering roll call were Wayne Snyder, Hazold
Snoderley, Cy Houston, and Leland Finley. Also present: Deborah Polk, Armstrong Teasdale, and Jane Henry,
Secretary and Executive Administration Assistant.
Approval of Minutes from Harold Snoderley moved to approve the minutes from October 8, 2008.
October 8, 2008 Cy Houston seconded and the motion passed 3-0, with Leland Finley
abstaining.
Resolution 2009-001: A Deborah Polk presented Resolution 2009-001: A resolution authorizing
resolution authorizing the sale the sale and transfer of certain property to the City of Riverside, Missouri;
and transfer of certain property directing UMB Bank, as trustee, to release such property from the deed of
to the City of Riverside, trust; and authorizing other actions in connection therewith. Palk
Missouri; directing UMB Bank, explained that this resolution authorizes the sale and transfer of 2,500
as trustee, to release such square feet of property near the northeast comer in Horizons, south of
property from the deed of trust; Hwy 9 and west of I-635. The sale price is $.50 per square foot or
and authorizing other actions in $1,250, the minimum necessary to sell the property to the City of
connection therewith Riverside. The City currently has a percentage rent lease agreement
under which the City leases several properties to Argosy Casino. This
land will be added to that lease agreement. The land will be used by
Argosy Casino as a billboazd site. The billboard advertising is expected
to increase revenues and help Argosy compete with anticipated upcoming
competition from Kansas.
Leland Finley made a motion to approve Resolution 2009-001,
authorizing the sale and transfer of certain property to the City of
Riverside, Missouri. Harold Snoderley seconded and the motion passed
4-0.
Resolution 2009-002: A Polk presented Resolution 2009-002: A resolution ratifying and
resolution ratifying and confimung the execution of an easement to Kansas City Power and Light;
confirming the execution of an directing UMB Bank, as trustee, to subordinate the deed of trust to same;
easement to Kansas and authorizing other actions in connection therewith. KCPL needed an
City Power and Light; directing easement to provide power to the lift station. The power was needed
UMB Bank, as trustee, to immediately for de-watering in order for construction on the lift station to
subordinate the deed of trust to continue uninterrupted. The City, due to this immediate need, requested
same; and authorizing other that the IDA grant the easement. This resolution ratifies and confirms the
actions in connection therewith execution of the easement by the President of the Authority.
Cy Houston moved to approve Resolution 2009-002, a resolution
ratifying and confirming the execution of an easement to Kansas City
Power and Light and Leland Finley seconded. Motion passed 4-0.
Other Business There was a discussion about Argosy Parkway West and the suitability
for development of the land between I-635 and the levee. Polk reminded
them that there aze restrictions on building in the area neaz the levee.
Adjournment Snoderley made a motion to adjourn and it was seconded by Finley. The
5:21 p.m. motion passed 4-0 and the meeting was adjourned at 5:21 p.m.
Jane Henry, S Greta and
xecutive Adminis on Assistant