FOR IMMEDIATE RELEASE:
KANSAS CITY, Mo. (July 10, 2019) – Port KC continues to build its advisory team in order to transform 415 acres of a former steel mill site into an intermodal port and hub for Kansas City. In July 2019, Port KC staff will recommend to its Board of Commissioners that KPMG Corporate Finance LLC (KPMG), with Managing Director Ted Hamer as lead, be selected for Financial Advisory Services in the formation of a Public Private Partnership (P3). If approved, KPMG will join Port KC and an existing team of advisors to develop Missouri River Terminal (MRT), which will further fulfill Port KC’s mission to create jobs and spur economic development in Kansas City.
“The transformation of this abandoned site into a vibrant new center for jobs and opportunity is at the forefront of the Port KC mission,” said Jon Stephens, Port KC President and CEO, “Having the right global partners such as KPMG will allow this project to reach its full potential.”
Port KC received responses from 12 globally respected firms. After an extremely competitive process, Port KC selected KPMG due to its extensive P3 experience, market understanding and relationships, and knowledge of the approaches that will ensure MRT reaches its potential.
“On behalf of the entire KPMG team, which includes subcontractors RK Johns and Associates and MGT Consulting Group, we are delighted to work with Port KC on the MRT project. Our team understands the unique opportunity this project affords the Kansas City community and we look forward to this exciting effort,” said Hamer, Managing Director for KPMG.
MRT will increase port activities, provide an efficient and environmentally safe transportation alternative, and increase commerce through-put in Kansas City. The intermodal terminal will be a transformative project for Kansas City, creating jobs and serving as a catalyst for further economic activity in the Missouri Blue River Corridor.
“We are very excited to recommend KPMG to our board and look forward to them joining our team,” said Mark Coulter, Port KC’s Vice President and General Counsel, who is leading the staff efforts to build a P3 team. “We had some incredible firms bring their full resources to bear in this procurement, which tells us we are on the right track. MRT has the potential to be a transformative intermodal game-changer for Kansas City, and we know we have an important responsibility to make sure we build the right team to give us the best chance of success.”
Staff will first recommend the selection of KPMG to the Finance and Administration Committee on Wednesday, July 10, 2019. If the Finance & Administration Committee recommends the selection, it will go to the full Board of Commissioners meeting on July 22, 2019.
Once the Board of Commissioners approves a Financial Advisory Services selection, Port KC will begin the pre-procurement process for MRT.
Contact: Mariah Shields