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File #: 2022-0138-E    Version: 1 Name:
Type: Ordinance Status: Enacted
File Introduced: 2/22/2022 In control: City Council
On agenda: 3/8/2022 Final action: 3/8/2022
Effective date:    
Title: ORD-MC Making Certain Findings & Apv & Auth the Mayor, or his Designee, & Corp Sec to Execute a Settlement Agreemt, Amended & Restated Mortgage, Amended & Restated Promissory Notes, a Lease Agreemnt for Lease by the DIA of the 3 Downtown Parking Garages (“Parking Garages”) Owned by Metropolitan Parking Solutions, LLC (“Developer”) for a Lease Term Through 9/202051, Sublease & Vendor Assignment Agreemts & Related Closing Docs & Other Agreemts as Set Forth in the Settlement Agreemnt, to Auth the Settlement of Certain Litigation btwn the City & Developer; Subj to Appropriation of Funds Therefore via Separate Legislation, the Settlement Agreemnt Auth the City to Provide Funding in the Not-to Exceed Amount of $33,500,000 to Defease the Existing Bond Debt of Developer in an Amount Not to Exceed $29,500,000 & to Pay for Certain Closing Costs & Other Costs & Expenses as Set Forth in the Settlement Agreemnt; Repealing in its Entirety Ord 2021-179-...
Introducer and/or Co-Sponsor(s): Mayor
Assigned Committees: FINANCE, RULES, TEU
Legislation Documents: 1. 2022-138 Original Bill, 2. 2022-138 - Exhibit 1, 3. 2022-138 - Fact Sheet, 4. 2022-138 Bill Summary, 5. 2022-138 Amended Bill Summary, 6. 2022-138_TEU_Amd.pdf, 7. 2022-138-E