COMMITTEE SUBSTITUTE
FOR ORDINANCE NO. 150151
Accepting the recommendations of the Tax Increment
Financing Commission of Kansas City as to the Third Amendment to the Downtown
Library Tax Increment Financing Plan, as revised, and approving the Revised Third
Amendment to the Downtown Library Tax Increment Financing Plan.
WHEREAS, the City Council of Kansas City, Missouri by
Ordinance No. 54556 passed on November 24, 1982 and thereafter amended in
certain respects by Committee Substitute for Ordinance No. 911076, as amended,
passed on August 29, 1991, Ordinance No. 100089, as amended, passed on January
28, 2010, and Ordinance No. 130986, passed on December 19, 2013, created the
Tax Increment Financing Commission of Kansas City, Missouri (the "Commission");
and
WHEREAS, the Commission recommended approval of
the Downtown Library District Tax Increment Financing Plan (the “Redevelopment
Plan”), and the Redevelopment Plan was approved by Ordinance No. 021400 on
November 26, 2002; and
WHEREAS, the Commission recommended approval of the First
Amendment to the Redevelopment Plan (the “First Amendment”), and the First
Amendment was approved by Ordinance No. 040196 on March 4, 2004; and
WHEREAS, the Commission recommended approval of the Second
Amendment to the Redevelopment Plan (the “Second Amendment”), and the Second
Amendment was approved by Ordinance No. 051526 on January 12, 2006; and
WHEREAS, the Third Amendment to the
Redevelopment Plan (the “Third Amendment”) was proposed to the Commission; and
WHEREAS, after all proper notice was given, the Commission
met in public hearing regarding the Third Amendment on January 14, 2015, at
which time, after receiving the comments of all interested persons and taxing
districts, the Commission approved a resolution (the “Resolution”) recommending
to the City Council the approval of the Third Amendment; and
WHEREAS, the Third Amendment was revised to provide for a
reduction in the redevelopment project costs and to allow the termination of
the Redevelopment Plan upon final reimbursement of all redevelopment project
costs; and
WHEREAS, after all proper notice was given, the Commission
met in public hearing regarding the Third Amendment on August 12, 2015, at
which time, after receiving the comments of all interested persons and taxing
districts, the Commission approved a resolution (the “Resolution”) recommending
to the City Council the approval of the Revised Third Amendment; NOW,
THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. The recommendations of the
Commission concerning the revised Third Amendment as set forth in the
Resolution are hereby accepted and the Revised Third Amendment, a copy of which
is attached hereto, is hereby approved.
Section 2. All terms used in this ordinance, not otherwise
defined herein, shall be construed as defined in the Real Property Tax
Increment Allocation Redevelopment Act, Sections 99,800 to 99.865, RSMo.
Section 3. The City Council hereby finds that good cause
has been shown for the amendment of the Redevelopment Plan and that the
findings of the Council in Ordinance Nos. 021400, 040196 and 051526, are not
affected by the Revised Third Amendment and apply equally to the Revised Third
Amendment.
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Approved as to form and legality:
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Brian Rabineau
Assistant City Attorney