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Legislation #: 950731 Introduction Date: 6/1/1995
Type: Ordinance Effective Date: 6/18/1995
Sponsor: None
Title: Accepting the recommendations of the Tax Increment Financing Commission as to the First Amendment to Midtown Redevelopment Tax Increment Financing Plan approving the First Amendment to the Midtown Redevelopment Tax Increment Financing Plan and designating a Redevelopment Area.

Legislation History
DateMinutesDescription
6/1/1995

Prepare to Introduce

6/1/1995

Referred Plans And Zoning Committee

6/7/1995

Advance and Do Pass

6/8/1995

Passed


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ORDINANCE NO. 950731

 

Accepting the recommendations of the Tax Increment Financing Commission as to the First Amendment to Midtown Redevelopment Tax Increment Financing Plan approving the First Amendment to the Midtown Redevelopment Tax Increment Financing Plan and designating a Redevelopment Area.

 

WHEREAS, the City Council of Kansas City, Missouri (the "City") created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission") by Ordinance No. 54556, passed on November 24, 1982, and repealed and amended in certain respects by Committee Substitute for Ordinance No. 941076, passed on August 29, 1991; and

 

WHEREAS, the City adopted the Midtown Redevelopment Tax Increment Financing Plan (the "Redevelopment Plan") and designated the area therein (the "Redevelopment Area") as a Redevelopment Area and found it to be blighted, by Committee Substitute for Ordinance No. 930066, as further amended, passed on April 11, 1993, and thereafter amended in certain respects by Ordinance No. 941127, passed on August 25, 1994; and

 

WHEREAS, the First Amendment to the Redevelopment Plan (the "First Amendment") altering the exterior boundaries of the Redevelopment Area was proposed to the Commission; and

 

WHEREAS, the Commission was duly constituted and its members duly appointed; and, after all proper notice was given, on May 15, 1995, met in public hearing to consider the First Amendment; and, after receiving the comments of all interested persons and taxing districts, adopted its Resolution recommending to the City Council the approval of the First Amendment; and

 

WHEREAS, the Redevelopment Plan, as amended by the First Amendment, is a comprehensive program intended to reduce or eliminate those conditions, the existence of which qualified the Redevelopment Area as a blighted area and enhance the tax base within the Redevelopment Area through the implementation of 2 separate Redevelopment Projects and the adoption of tax increment financing in each of the area selected for such Redevelopment Projects as amended; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. The recommendations of the Commission as set forth in its resolution attached as Exhibit "A" are accepted, and the First Amendment attached to the Resolution is adopted, and the Redevelopment Plan is amended as set forth in the First Amendment.

 

Section 2. The Redevelopment Area as set forth in the First Amendment is designated a Redevelopment Area.

 

Section 3. The City Council finds that good cause has been shown for the adoption of the First Amendment, and the adoption of the First Amendment to the Redevelopment Plan does not alter the findings of the Commission and City Council as set forth in Resolution No. 92-68 and Ordinance No. 930066, as amended, which are unaffected by the First Amendment to the Redevelopment Plan, and all provisions of the Redevelopment Plan remain in full force and effect except as amended in this ordinance.

 

Section 4. Any obligations issued to finance Redevelopment Project Costs must contain a recital that they are issued pursuant to Sections 99.800 to 99.865, which recital will be conclusive evidence of their validity and of the regularity of their issuance.

 

______________________________________________________________

 

Approved as to form and legality:

 

 

 

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Assistant City Attorney