RESOLUTION NO A RESOLUTION OF THE CITY OF OVERLAND PARK, KANSAS, PROVIDING FOR NOTICE OF A PUBLIC HEARING CONCERNING AMENDING

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1 RESOLUTION NO A RESOLUTION OF THE CITY OF OVERLAND PARK, KANSAS, PROVIDING FOR NOTICE OF A PUBLIC HEARING CONCERNING AMENDING A COMMUNITY IMPROVEMENT DISTRICT LOCATED AT THE NORTHWEST CORNER OF WEST 93 RD STREET AND METCALF AVENUE WITHIN THE CITY RELATED TO AN INCREASE OF THE CID PROJECT COSTS PURSUANT TO K.S.A. 12-6A26 ET SEQ., AS AMENDED (REGENCY PARK SHOPPING CENTER). WHEREAS, the City of Overland Park, Kansas (the City ) received a petition on November 17, 2017, requesting the creation of a community improvement district located generally at the northwest corner of West 93 rd Street and Metcalf Avenue within the City (the Regency Park CID ), the establishment of the boundaries of the Regency Park CID, the authorization of making certain community improvement district projects relating thereto, the approval of the maximum cost of such community improvement district projects, the method of financing the community improvement district projects, and the authorization of imposing a community improvement district sales tax within the Regency Park CID, all pursuant to the Community Improvement District Act, K.S.A. 12-6a26 et seq., as amended (the CID Act ); and WHEREAS, on December 18, 2017, the City passed Ordinance No. CID-3193 creating the Regency Park CID, establishing the boundaries of the community improvement district, authorizing the making of certain community improvement district projects relating thereto (the CID Project ) as further described on Exhibit C attached hereto and incorporated herein by reference, approving the maximum cost of $7,350,000 for such CID Project, authorizing the imposition of a 1.0% community improvement district sales tax (the CID Sales Tax ) within the Regency Park CID, and providing for the method of financing to be on a pay-as-you go basis from revenues received from CID Sales Tax; and WHEREAS, on August 8, 2018, the City received an application petition requesting a modification of the Regency Park CID to increase in the estimated project costs of the CID Project from $7,350,000 to $7,860,000; and WHEREAS, the Petition was signed by the owners of record, whether resident or not, of more than 55% of assessed value of the land area contained within the Regency Park CID and by more than 55% percent of all owners of real property within the boundaries of the Regency Park CID; and WHEREAS, pursuant to the CID Act, the City must adopt a resolution stating that the City is considering amending the Regency Park CID; NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE CITY OF OVERLAND PARK, KANSAS, AS FOLLOWS: 1. Notice is hereby given that a public hearing to consider amending the current Regency Park CID shall be held at the Overland Park City Hall, 8500 Santa Fe Drive,

2 Overland Park, Kansas, on Monday, September 17, 2018, beginning at 7:30 p.m., or as soon thereafter as it may be heard. 2. The legal description of the Regency Park CID is set forth in Exhibit A attached hereto and incorporated herein by reference. A map generally outlining the boundaries of the Regency Park CID is attached hereto as Exhibit B attached hereto and incorporated herein by reference. 3. The general nature of the CID Project to be completed within the Regency Park CID is set forth in Exhibit C attached hereto and incorporated by reference herein. 4. The estimated cost of the CID Project is proposed to be increased from $7,350,000 to $7,860, The imposition of the 1.0% CID Sales Tax and the method of financing remain unchanged from Ordinance No. CID-3193, and no special assessments will be levied pursuant to the CID Act to finance the CID Project. 6. The City Clerk shall give notice of the public hearing in accordance with the provisions of the CID Act by publishing this resolution at least once each week for two consecutive weeks in the official City newspaper and sending this resolution by certified mail to all owners of land within the Regency Park CID. The second publication of this resolution shall occur at least seven days prior to the date of hearing and the certified mailed notice shall be sent at least ten days prior to the date of hearing. ADOPTED by the City Council this 13 th day of August, APPROVED AND SIGNED by the Mayor this 13 th day of August, CITY OF OVERLAND PARK, KANSAS (SEAL) By: /s/ Carl Gerlach Carl Gerlach Mayor ATTEST: By: /s/ Elizabeth Kelley Elizabeth Kelley City Clerk APPROVED AS TO FORM: By: /s/ Michael Koss Michael Koss Senior Assistant City Attorney

3 APPROVED AS TO FORM: By: /s/ Joseph D. Serrano Joseph D. Serrano, Kutak Rock LLP Bond Counsel EXHIBIT A LEGAL DESCRIPTION OF REGENCY PARK COMMUNITY IMPROVEMENT DISTRICT LOTS 4 AND 5, REGENCY PLAZA, A SUBDIVISION IN THE CITY OF OVERLAND PARK, JOHNSON COUNTY, KANSAS, ACCORDING TO THE RECORDED PLAT THEREOF.

4 EXHIBIT B MAP Regency Park Community Improvement District

5 EXHIBIT C GENERAL NATURE OF REGENCY PARK CID The proposed CID Project consists of redevelopment of certain privately-owned property and adjacent right-of-way located at the northwest corner of West 93 rd Street and Metcalf Avenue within the City. The general nature of the proposed CID Project is to promote economic development within the CID District, which shall be accomplished by providing community improvement district financing in accordance with the Petition, the Act, and City of Overland Park policy to finance the demolition, construction, maintenance, and procurement of certain improvements, costs, and services within the CID District, including, but not limited to: land acquisition, infrastructure related items, streets, sidewalks, parking improvements, buildings, facilities, tenant improvements, landscaping, lighting, art and other cultural amenities, ongoing maintenance of the CID District, marketing, advertisement and economic development, promotion of activities and special events, training, cleaning and maintenance, and administrative costs in establishing and maintaining the CID District and the CID Project, and any other items permitted to be financed within the CID District under the Act.