HomeMy WebLinkAbout1999 - 22 - Approval of City's Payment Request in Connection with L-385 Levee Redevelopment PlanBILL ~"0 ~~-~~,
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ORDIIyalyCE ~"0. ~'~-
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<~\ ORDL'~al~CE APPRO~ZI~G THE CITY'S PAYI~IEI~T REQUEST II\
COI~~I~-ECTIOIy «'ITH L->3~ LEVEE REDEVELOPMEIyT PLAN
REI:~iBURSABLF. PROJECT COSTS AID AUTHORI7_II~G ACTIOIyS
RELATED THERETO.
~~-'HEREAS, the City of Riverside, N[issouri ('City'), adopted the L-33~ Levee
Redevelopment Plan ("Plan'}, established the Redevelopment Area as a "blighted area," and
approved Redevelopment Project I (the Levee Project} and the Redevelopment Project I Area
pursuant to Ordinance i\o. 96-7? passed on July l6, 1996 after recommendation of same by the Tax
Increment Financing Commission ofRiverside, Missouri, pursuant to ResolutionI`o. 96-06-0 l passed
un lone ?i, 1996.
WHEREAS, the City, by Ordinance 1\0. 93-49 adopted 1/Iay 19, 1993 ("Bond Ordinance-'},
authorized the issuance of$I,000,000 Tax Increment Revenue Bonds (L-33~ Levee Project} Series
I'~~~3 ('•Bonds'~j.
VHEREAS, on March 20, 1999, money held in the Special Allocation Fund must be allocated
as set forth in Section 60? of the Bond Ordinance and after payment of City and Paying Agent fees
and expenses and debt service on the Bonds, may be used for the payment of other Reimbursable
Project Costs. An estimate of such allocation and availability is set forth on Exhibit A.
WHEREAS, pursuant to the Plan, Redevelopment Project Costs incurred by the City are
Reimbursable Project Costs for which the City may request reimbursement from amounts in the
Special allocation Fund.
WHEREAS, the City has incurred the Reimbursable Project Costs set forth on the Payment
Request attached Exhibit B ("Request"j and thereby requested reimbursement for such costs.
BE Ff ORDAIl~-ED BY TFIE BOARD OF ALDERNIEI\ FORTHE CITY OF RIVERSIDE,
NLISSOURI AS FOLLOWS:
SECT1O1\ 1. The Request in the amount of $163,3~0.6~ is approved and the payment of
such amount is authorized to be made, in one or more payments, from available funds in the Special
Allocation Fund after the required allocations under Section 60? of the Bond Ordinance have been
duly made. The Mayor, City Clerk, City Administrator, Treasurer and Finance Director are
authorized and directed to execute such documents and take such actions as are necessary or
desirable to effectuate the intent of this Ordinance.
SECTIOn ?. This Ordinance shall be in full force and effect ti-om and after its passage and
approval.
~:_'
PASSED Al\D APPROVF,D THIS ~c~ DAY OF MARCH, 1999.
f
ATTEST _~ ~~ i- --! ~~~ '~'~~~------ =!Gf~- ~~~.
\ / ~~~~~
L6uise Rusick, City Clerk -dward Rule, Nlayor
d"3/2Z/94 1].:1Z:84 ArmstronyTeasAaleKC-> 816 746 8399 HiyhtFAX Paye 883
EXHIBIT A
ESTLIIATE OF FIJPiDS AVAII.ABLE
BAI..ANCF. IN SPECIAL ALLCK;AT]ON FWD 8253,92353
CITY EATS P.4YVLENT TO BE ~LaDE S3-i,0':~0.02
ANTICIPATED BAL,~VCE (t 3-20-99 8288.013.56
AOND °AY.~fENTS FOR 1999 81 L3.650.OQ
ALI.OR'ANCE FCR MISCELLANEOUS Ek1'ENSES 55.000.00
F.STLMATED AViOUNTA\~_~.~1BLE 8168.36356
h3/? /99 11.1L;14 ArmstronyTeasdalelSC-> 816 746 8399 RiyhtFAX Faye B84
F~HIBIT B
PAl'~~LENT REQUEST'
Redevelopment Plan: L-335 Levee Re~evel.upment Plan
Applicant: City of Riverside, ?Missouri
Certification. Applicant certifies that it has incurred and paid the Reimbursable Project Costs set
forth on the attached Exhibit .~ copies of such im~oices being on file with the Finance Director, in
connedion with the L-38~ L.evee Project.
Request for Payment. Application is made by Applicant for reimbursement in the amount of
$I63,3~0.65 of such Reimbursable Project Costs incurred as certified by Applicant pursuant to this
Payment Request CeRitcate.
APPLICANT
City of Riverside, ~iissoun
By:
carne.
Title:
Payment Authorization.
T he undersigned, being the City representative nut horized to revie~e and approve this Payment
Request Certificate, approves this Payment Request Certificate.
CITY OF RIVERSIDE, MISSOURI
Bv:
1\ ame
Title
Date'
N3!12;99 11~1'L12d ArmstrongTeasdaleYC-> dib 79b 4399 RiyhtFAX
EXHLBTI A TO PAYViEVT REQUEST
REL~Ii3URS,IBLE PROJECT COSTS LVCL'I2RED
EY COYVECTIOV ~i`TTH
L-385 LEti'EE REDEVELOPViEVT PLr~~1
ARMSTR01\G
1'EASDAL.E
L~~'OICE I<0.
387503
396828
401829
4066?8
416334
417250 ~,
423554
429602
433269
439015
444705
449240
453913
464160
x68759
476940
Total
DATE
071'08,''97
O Si 13197
091' 12197
l0i 16/97
1 li 13,97
l ^008197
Oli' 15/98
0?112198
03;11/98
03/31/98
05`14/98
06/11/98
07/14/98
081 LJ98
091 11/98
lon~~9s
I TOTAI. FOR TIF
RELATED
M?.TTERS 01\ZY
$1,265.91
$4,208.00
$9,211.05
$9,781.46
$5,076.83
$5.764.35
$4,445.18
$12,565.56
s
$13,397.78
$1 L,462.43
$9,947.36 i
~, $9,604.51 ?
$10,801.89
$22,260.55 '
$12,151.69
$21,405.60
$163,350.65
Paye dti5