| | | | | | | | | City of Independence | | AGENDA ITEM COVER SHEET |
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| | | | | | | | Agenda Title:
23-087 2R An ordinance approving a completion timing agreement with respect to the Cargo Largo project. |
| | | | | | | | Recommendations:
Staff recommends approval in substantially the same form as presented. |
| | | | | | | | Executive Summary:
The timing agreement sets out timelines and procedures for a portion of the required Public Improvements for the Cargo Largo Development. The agreement enables 33rd Street and the Noland Road Turn Lane Improvements to be completed within eight months following approval by the railroad. Approval of the agreement enables Cargo Largo to obtain a Certificate of Occupancy once all other Public Improvements are completed which is required to fully open the facility to the public. |
| | | | | | | | Previous Activity:
December 6, 2021-Public Improvements Development Agreement (City Council approval)
December 6, 2021-Redevelopment Agreement (City Council approval) |
| | | | | | | | Background:
Approval of the agreement amends the Redevelopment Agreement and Public Improvements Development Agreement to provide additional time for 33rd Street and the Noland Road Turn Lane Improvements to be completed, which requires review, approval, and permitting of the adjacent railroad infrastructure. If the agreement is not approved, Cargo Largo will not be able to obtain a Certificate of Occupancy and thereby not fully open to the public . The agreement includes measures to provide the City with the authority to complete the improvements in the event the Developer does not complete them within the required timeline. The agreement also provides the City the authority to recover the cost of the improvements through direct reimbursement from the Developer or via clawbacks of the City's General Sales and Transportation Improvement Sales Taxes. |
| | | | | | | | | Department: City Manager's Office | Contact Person: Adam Norris |
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| REVIEWERS: | | Department | Action | | Community Development Department | Approved |
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| Council Action: | Council Action: |
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