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Legislation #: 170197 Introduction Date: 3/9/2017
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER WAGNER
Title: Approving and authorizing settlement of a lawsuit entitled Marcus Hotels, Inc. v. Tax Increment Financing Commission of Kansas City, Mo. and City of Kansas City, Mo., Case No. 1416-CV21583.

Legislation History
DateMinutesDescription
3/10/2017 Filed by the Clerk's office
3/9/2017 Referred to Finance and Governance Committee
3/22/2017 Hold On Agenda (4/12/2017)
4/12/2017 Advance and Do Pass, Consent
4/13/2017 Passed

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ORDINANCE NO. 170197

 

Approving and authorizing settlement of a lawsuit entitled Marcus Hotels, Inc. v. Tax Increment Financing Commission of Kansas City, Mo. and City of Kansas City, Mo., Case No. 1416-CV21583.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That settlement of the lawsuit styled Marcus Hotels, Inc. v. Tax Increment Financing Commission of Kansas City, Mo. and City of Kansas City, Mo., Case No. 1416-CV21583 (Circuit Court of Jackson County, Missouri), on terms substantially similar to those set out in the Final Settlement Agreement on file in the City Attorney’s Office is hereby approved.

 

Section 2. That the City Attorney is hereby authorized to execute the above-referenced Final Settlement Agreement.

 

Section 3. That no appropriation from funds maintained by the Director of Finance is required. The settlement will be paid from existing and future Payments in Lieu of Taxes (PILOTS) and Economic Activity Taxes on deposit or to be deposited in the Special Allocation Fund maintained by the TIF Commission in connection with Redevelopment Project 1 of the Hotel Phillips Tax Increment Financing Plan, as amended, and from additional existing and future Kansas City, Missouri Economic Activity Taxes on deposit or to be deposited in a separate fund maintained by the TIF Commission in connection with the Hotel Phillips Super TIF Agreement.

 

_____________________________________

 

Approved as to form and legality:

 

 

_____________________________

Stephen Walsh

Assistant City Attorney