refinancing of bonds of a Neighborhood Improvement District (NID) will result in a cost savings.
In 2005, Platte County issued neighborhood improvement districts bonds for the Parkville Commons Shopping Center for public infrastructure projects. Those bonds have now come to the point where they can be refinanced for savings, said Rick McConnell of Gilmore & Bell law firm.
McConnell reported to the Platte County Commission that in doing so the underwriter for the bonds, Oppenheimer and Company, came up with a final savings just over $300,000.
“This makes me want to break out into a cheer,” said Kathy Dusenbery, first district commissioner.
The county commission unanimously approved the final issuance of the bonds.
According to McConnell, the closing of this transaction will occur in November.
The commissioners also approved a special events agreement with Red Frog Events. According to the convention and visitors bureau, last year’s Warrior Dash, an obstacle race event, attracted more than 15,800 people from 32 different states to Kansas City.
The event was held at Tiffany Springs Park in Platte County this year.
During the two-day event, which ended early because of extreme heat, 13 people were taken to hospitals and two people who participated in the extreme obstacle course died days after the event.
Jason Brown, presiding commissioner stated this year’s event, held May 5, will be located at Platte Ridge Park.
“We have a potential for 8,400 people coming through Platte Ridge Park on Saturday May 5,” said Jennifer Goring with the convention and visitors bureau.
This year’s event is a 3.11 mile race consisting of 12 extreme obstacles.
Also at the meeting, Bill Stackhouse, president of the New Bedford Falls homes association addressed the commission. He explained that the developer of New Bedford Falls went bankrupt and as a result failed to make the expected improvements to the housing development. The anticipated improvements included a sidewalk on several lots as well as a pool.
“It’s a public hazard at this point not having a walkway,” said Stackhouse.
Daniel Erickson, director of planning and zoning, said these improvements would have typically been made by the developer. Last month a codes letter was sent out to the current owner notifying them of the anticipated improvements, said Erickson. The owner disputes any responsibility emphasizing the accountability rest with the developer.
“This is quite a unique situation, because we have a developer here that went bankrupt,” said Jason Brown, presiding commissioner.
Given this rare circumstance, Brown said he would check with Bob Shaw, Platte County counsel, to determine if any additional measures could be taken on this matter.