COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 070128

Approving the Petition to establish Shops on Blue Parkway Community Improvement District; establishing Shops on Blue Parkway Community Improvement, generally bounded by parcels on the north and south sides of Blue Parkway between Cleveland Avenue and Lawn Avenue in Kansas City, Jackson County, Missouri; and directing the City Clerk to report the creation of the District to the Missouri Department of Economic Development.

WHEREAS, the property located within the Shops on Blue Parkway Community Improvement District is also located with a tax increment financing district; and

WHEREAS, it is recognized by all parties that 50% of the sales tax imposed by the community improvement district will be captured by tax increment financing and will be directed toward the Citys debt obligation; NOW, THEREFORE

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Petition to establish Shops on Blue Parkway Community Improvement District (the District) as a separate political subdivision in accordance with Section 67.1401 RSMo., through Section 67.1571, otherwise known as the Missouri Community Improvement District Act (the Act), and which is attached to this Ordinance as Exhibit 1, is hereby approved in its entirety.

Section 2. That the District is hereby established for the purposes set forth in the Petition, that the District shall have all the powers and authority authorized by the petition, the Act, and by law, and shall continue to exist and function for a period of five years following the effective date of this Ordinance.

Section 3. That upon the effective date of this Ordinance, the City Clerk is hereby directed to report the creation of the District to the Missouri Department of Economic Development pursuant to Section 67.1421.6 RSMo, by sending copy of this ordinance to said agency.

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Approved as to form and legality:

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William Geary

Assistant City Attorney