A home rule economic development grant for the downtown grocery is on the agenda for the Unified Government Economic Development and Finance Committee meeting tonight.
The EDF meeting will begin after the end of the UG Neighborhood and Community Development Committee meeting, which starts at 5 p.m. in the fifth floor meeting room at City Hall, 701 N. 7th St., Kansas City, Kansas.
Some major projects are on the agenda, along with a report on industrial revenue bond real property tax projection.
According to the agenda, a proposed ordinance includes a ground lease and development agreement, a lease agreement and community benefits agreement for the grocery store property at 501 Minnesota Ave.
The UG owns the property where the 12,000 to 14,000-square-foot store will be built, and the UG will construct the building.
Under the agreement, the rent is listed as $1 per year to the UG. The proposed contract states the tenant will pay the UG the purchase price for the cost of completing the improvements. The amount of the price was blank in the agenda document. The tenant would have to pay the taxes.
Also, a community benefits agreement stated that CBKC CDC is making a qualified lowincome community investment under the federal New Market Tax Credit program of $6.86 million in NMTC beneficiary loans to finance the construction of the new grocery store at 5th and Minnesota.
The new store is to be managed and operated by the Mercantile, which is based in Lawrence, Kansas.
Also on the agenda was an ordinance and resolution to issue $1.42 million in taxabe general obligation improvement bonds to provide funds for the downtown grocery project, with the bonds to be purchased by the Local Initiatives Support Corp. (LISC).
The various actions proposed are for the purpose of obtaining New Market Tax Credits for the project, according to the agenda.
Also on the EDF agenda are a resolution authorizing the sale and lease of the old YMCA building at 834 Armstrong Ave., Kansas City, Kansas.
According to the resolution, the YMCA property will revert back to UG ownership upon certain conditions being met, that the UG now believes will soon be met. The YMCA building, although about a century old, was sold by the city of Kansas City, Kansas, to the YMCA in 1996.
According to the resolution, Y Lofts LP is interested in purchasing part of the property and leasing part of the property for a redevelopment of the 8th Street YMCA into senior housing.
The resolution stated the UG, the YMCA and Y Lofts have reached an agreement that upon the conveyance of the 8th Street YMCA facility by the YMCA to the Y Lofts, the YMCA will deed the property back to the UG; the property will be subdivided; the eastern part of the property will be sold to Y Lofts and the western lot of the property will be leased to Y Lofts.
Another item on the EDF agenda is a public hearing on the resolution of intent to issue industrial revenue bonds not to exceed $155 million for Turner Logistics project, which is located on the Turner Diagonal in Kansas City, Kansas.
An ordinance to create the Turner Logistics Community Improvement District also will be considered.
The Neighborhood and Community Development Committee meeting will precede the EDF meeting at 5 p.m. Monday in the fifth floor meeting room, City Hall.
On the agenda for the NCD meeting are transfers to the Land Bank from 1269 and 1273 Kansas Ave., and 1527 S. 34th St.
Also on the Land Bank agenda are applications:
1040 Splitlog Ave. – Jose Coreas-Arevalo, yard extension
1273 Kansas Ave. – Sandra Aguirre, property acquisition
1269 Kansas Ave. – Sandra Aguirre, yard extension
1506 N. 55th Dr. A – Jase Properties, LLC, yard extension
1527 S. 34th St. – Samantha Lopez, yard extension
The committee also will hear an update on the Land Bank rehab program, and an ordinance will be considered to amending the boarding procedures and requirements for unfit properties.
For more information, visit https://www.wycokck.org/Clerk/Agendas.aspx.