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Home My Public Portal AboutORD15550 BILL NO. 2016-27 SPONSORED BY COUNCILMAN Henry ORDINANCE NO. 155. 59 AN ORDINANCE OF THE CITY OF JEFFERSON, MISSOURI, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A DEVELOPMENT AGREEMENT WITH SPECIAL OLYMPICS MISSOURI, INC. ("SOMO"), PERTAINING TO THE CONSTRUCTION OF A SANITARY SEWER TO THE SOMO MULTIPURPOSE TRAINING FACILITY. BE IT ENACTED BY THE COUNCIL OF THE CITY OF JEFFERSON, MISSOURI, AS FOLLOWS: Section 1. The Mayor and City Clerk are hereby authorized and directed to execute a Development Agreement with Special Olympics Missouri, Inc. ("SOMO"), pertaining to the construction of a sanitary sewer to the SOMO multipurpose training facility Section 2. The agreement shall be substantially the same in form and content as that agreement attached hereto as Exhibit A. Section 3. This Ordinance shall be in full force and effect from and after the date of its passage and approval. Passed: / lA0/4 Approved: .27 V4, dkVi.ce71:011/4/1-' $ Presiding Officer Mayor Carrie Tergin ATTEST:_ -- - , APPROVED AS TO FORM: CI Cler� k.. .•: City Counselor ibk7/• /3:D Development Agreement Between The City of Jefferson and Special Olympics Missouri, Inc. COMES NOW the City of Jefferson, hereinafter referred to as the "City," and Special Olympics Missouri hereinafter referred to collectively as the "Developer", and enters into the following agreement: WITNESSETH: WHEREAS,it is in the best interest of the City to advance the orderly development of property in and around the City; and WHEREAS, as part of an inducement to encourage the development of multipurpose training facility for Special Olympics Missouri, the City offered to provide up to three hundred thousand dollars ($300,000)to facilitate a sewer connection to the property to utilized for this development. WHEREAS, Developer is the party preparing said property for construction. NOW, THEREFORE,the parties enter into this agreement: 1. Considerations. The parties acknowledge and agree that Developer's agreement to perform and abide by the covenants and obligations of Developer set forth herein is material consideration for City's agreement to perform and abide by the covenants and obligations of City set forth herein. 2. Developer to prepare plans. Developer,its successor or assigns, shall within 60 days of the date of this agreement cause plans to be prepared for the construction of a sewer line,for the sewer line identified on exhibit A, and submit the same to the City for approval and acceptance. The Director of Public Works may at his sole discretion,grant additional time to complete the task for good cause shown. 3. Compliance with Code. Developer,its successors and assigns, shall install any and all said public improvements required as part of, or applicable to, the development in accordance with all city standards and specifications. 4. Permit required. Developer, its successors and assigns, agree to construct improvements only after obtaining all required City issued permits. 5. Best efforts. The City agrees to apply its best efforts exercised in good faith to process any and all requests and applications filed by the Developer. 6. Reimbursement. Upon completion of said sewer line and only after approval of the completion by the City,the City shall reimburse the Developer up to three hundred thousand dollars ($300,000)for the cost of construction of said sewer line. a. However, as this reimbursement is provided as a part of an economic incentive package, failure of Special Olympics Missouri to open a training facility at the location before February 1, 2019, agreement shall require the Developer to refund said$300,000 no later than July 1, 2019. 7. Modification of Agreement.This Agreement shall not be modified or amended except by a written instrument approved and signed by the parties hereto. 8. Severability. Any illegal or unenforceable provision of this Agreement will be severed here from and will tic-offender invalid the remaining provisions of this Agreement.-- 9. Law to Govern. This agreement shall be construed according to laws of the State of Missouri. The Developer shall comply with all local,state,and federal laws and regulations relating to the performance of the agreement. 10.Notices. Any communications between the City and the Developer,payments and notices provided herein to the given or made,may be given or made by mailing the same to the City at 320 East McCarty,Jefferson City,Missouri 65101 and to the Developer at 1001 Dimond Ridge Suite 800,Jefferson City,Missouri, 65101, or to such other addresses as either party may in writing hereafter indicate. CITY OF JEFFERSON CITY, MO By `' By Carrie Tergin;_Mayor -U AT T: SPECIAL OLYMPICS MISSOURI B r /f/` �r!I By \`".``�iSi� N..: City Clerk , , -_ = Approved a. e Form: City Counselor SECOND AMENDMENT TO TAX CREDIT AGREEMENT (Jefferson City,Missouri—Special Olympics Missouri) THIS SECOND AMENDMENT TO TAX CREDIT AGREEMENT ("Second Amendment") is made and entered into as of this 1st day of August, 2016 by and between the MISSOURI DEVELOPMENT FINANCE BOARD, a body corporate and politic of the State of Missouri (the "Board"), the CITY OF JEFFERSON CITY,MISSOURI, a charter city organized and existing under the laws of the State of Missouri (the "Public Entity"), and SPECIAL OLYMPICS MISSOURI,INC., a Missouri nonprofit corporation (the "Nonprofit Entity"). (All capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Tax Credit Agreement defined below). RECITALS A. On February 14, 2014, the Board entered into a Tax Credit Agreement (the "Tax Credit Agreement") by and among the Board, Boone County, Missouri (the "County") and the Nonprofit Entity (the"Tax Credit Agreement"). B. On November 4, 2015, the Board and the Public Entity entered into an Assumption Agreement whereby the Public Entity assumed the rights, interest, duties and obligations of the County under the Tax Credit Agreement. C. On January 8, 2016, the Board, the Public Entity and the Nonprofit Entity amended the Tax Credit Agreement to modify the deadline for the receipt of Contributions(the"First Amendment"). C. The Board, the Public Entity, and the Nonprofit Entity now desire to enter into this Second Amendment in order to modify the minimum Contribution amount. AGREEMENT NOW, THEREFORE, in consideration of the premises and mutual promises contained herein and other good and valuable consideration, the adequacy and sufficiency of which are hereby acknowledged,the Parties agree as follows: Section 1. The Tax Credit Agreement is hereby amended by the deletion of existing Section 3.3 and the addition of a new Section 3.3 which shall read as follows: Section 3.3. Minimum Contribution. The Board shall not accept any Contribution in an amount less than$1,000. Unless the Board, in its sole and absolute discretion,elects to waive the foregoing limitation,any Contribution which is received for less than such minimum amount shall be returned to the Donor with a written notation explaining that Contributions must be made in the minimum amount of$1,000. A copy of the written correspondence by which each Contribution is returned shall also be sent to the Nonprofit Entity. Section 2. The terms of the Tax Credit Agreement shall remain in full force and effect, except as modified herein. Section 3. The parties hereto acknowledge and agree that this Second Amendment may be executed in one or more original counterparts, each of which when taken together shall constitute one and the same instrument. I IN WITNESS WHEREOF, each of the parties hereto has caused this Second Amendment to be signed in its respective name and behalf and its official seal to be hereunto affixed and attested by its duly authorized officers, all as of the date first above written. MISSOURI DEVELOPMENT FINANCE BOARD By: /fil Name: Robert .Miserez Title: Executive Director CITY OF JEFFERSON CITY,MISSOURI APPROVEDAS TO c c/if/ By. UlifiVIA- Madell . Name: eft,.rY`i.e. T,a44 n Title: m4,y01t City Co.selor Pir SPECIAL OLYMPICS MISSOURI,INC. BY '!`' ....'NX ..�t� ' Name: Mark Musso Title: President&CEO -2- SECOND AMENDMENT TO TAX CREDIT AGREEMENT (Jefferson City,Missouri—Special Olympics Missouri) THIS SECOND AMENDMENT TO TAX CREDIT AGREEMENT ("Second Amendment") is made and entered into as of this 1st day of August, 2016 by and between the MISSOURI DEVELOPMENT FINANCE BOARD, a body corporate and politic of the State of Missouri (the "Board"), the CITY OF JEFFERSON CITY,MISSOURI, a charter city organized and existing under the laws of the State of Missouri (the "Public Entity"), and SPECIAL OLYMPICS MISSOURI,INC., a Missouri nonprofit corporation (the "Nonprofit Entity"). (All capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Tax Credit Agreement defined below). RECITALS A. On February 14, 2014, the Board entered into a Tax Credit Agreement (the "Tax Credit Agreement") by and among the Board, Boone County, Missouri (the "County") and the Nonprofit Entity (the"Tax Credit Agreement"). B. On November 4, 2015, the Board and the Public Entity entered into an Assumption Agreement whereby the Public Entity assumed the rights, interest, duties and obligations of the County under the Tax Credit Agreement. C. On January 8, 2016, the Board, the Public Entity and the Nonprofit Entity amended the Tax Credit Agreement to modify the deadline for the receipt of Contributions(the"First Amendment"). C. The Board, the Public Entity, and the Nonprofit Entity now desire to enter into this Second Amendment in order to modify the minimum Contribution amount. AGREEMENT NOW, THEREFORE, in consideration of the premises and mutual promises contained herein and other good and valuable consideration, the adequacy and sufficiency of which are hereby acknowledged,the Parties agree as follows: Section 1. The Tax Credit Agreement is hereby amended by the deletion of existing Section 3.3 and the addition of a new Section 3.3 which shall read as follows: Section 3.3. Minimum Contribution. The Board shall not accept any Contribution in an amount less than$1,000. Unless the Board, in its sole and absolute discretion,elects to waive the foregoing limitation,any Contribution which is received for less than such minimum amount shall be returned to the Donor with a written notation explaining that Contributions must be made in the minimum amount of$1,000. A copy of the written correspondence by which each Contribution is returned shall also be sent to the Nonprofit Entity. Section 2. The terms of the Tax Credit Agreement shall remain in full force and effect, except as modified herein. Section 3. The parties hereto acknowledge and agree that this Second Amendment may be executed in one or more original counterparts, each of which when taken together shall constitute one and the same instrument. I IN WITNESS WHEREOF, each of the parties hereto has caused this Second Amendment to be signed in its respective name and behalf and its official seal to be hereunto affixed and attested by its duly authorized officers, all as of the date first above written. MISSOURI DEVELOPMENT FINANCE BOARD By: /fil Name: Robert .Miserez Title: Executive Director CITY OF JEFFERSON CITY,MISSOURI APPROVEDAS TO c c/if/ By. UlifiVIA- Madell . Name: eft,.rY`i.e. T,a44 n Title: m4,y01t City Co.selor Pir SPECIAL OLYMPICS MISSOURI,INC. BY '!`' ....'NX ..�t� ' Name: Mark Musso Title: President&CEO -2-