ORDINANCE NO. 041397
Terminating the Hotel President
Block Tax Increment Financing Plan.
BE IT ORDAINED
BY THE COUNCIL OF KANSAS CITY:
WHEREAS, the City
Council of Kansas City, Missouri, by Ordinance No. 54556 passed on November 24,
1982, and thereafter amended in certain respects by Ordinance No. 911076 passed
on August 29, 1991, created the Tax Increment Financing Commission of Kansas City,
Missouri (the "Commission"); and
WHEREAS, the
Hotel President Block Tax Increment Financing Plan was approved by the
Commission by adoption of its Resolution No. 11-15-01 and approved by the
Council on August 15, 2002, by Ordinance No. 011655, as amended; and
WHEREAS, the
Commission on January 14, 2004, adopted its Resolution No. 01-10-04,
recommending to the Council the approval of the 1200 Main/South Loop Tax
Increment Financing Plan and the Council accepted the recommendations of the
Commission and approved the redevelopment plan by passage of Committee
Substitute for Ordinance No. 040154; and
WHEREAS, the first
amendment to the 1200 Main/South Loop Tax Increment Financing Plan was approved
by the Commission on June 9, 2004, by its Resolution No. 06-16-04, recommending
to the Council the approval of the first amendment; and the Council accepted
the recommendations of the Commission and approved the first amendment by
passage of Ordinance No. 040738; and
WHEREAS, the 1200
Main/South Loop Tax Increment Financing Plan incorporates the renovation of the
historic Hotel President with the consent and approval of the approved
redeveloper of the Hotel President Block Tax Increment Financing Plan; and
WHEREAS, the
boundaries of the Hotel President Block Tax Increment Financing Plan and the
1200 Main/South Loop Tax Increment Financing Plan overlap and it is appropriate
to terminate the Hotel President Block Tax Increment Financing Plan; NOW,
THEREFORE,
BE IT ORDAINED BY THE
COUNCIL OF KANSAS CITY:
Section 1. That the
Hotel President Block Tax Increment Financing Plan is hereby terminated.
_____________________________________________
Approved
as to form and legality:
___________________________________
Heather
A. Brown
Assistant City Attorney