RESOLUTION NO. 050844

Authorizing the Economic Development Corporation of Kansas City, Missouri, to submit an application on behalf of the City for designation of an enhanced enterprise zone program area, to be known as Enhanced Enterprise Zone 1, to the State of Missouri pursuant to provisions of Senate Bill No. 1155; requesting that the Economic Development Corporation of Kansas City, Missouri draft policies for the operation of the program; and staff and operate the program under the direction of the Board and of the City Council.

WHEREAS, the City Council has determined that it is proper and fitting to establish an enhanced enterprise zone (EEZ) program pursuant to the provisions of Senate Bill No. 1155 to provide certain incentives for businesses to locate or expand in the designated zone; and

WHEREAS, the City Council designates the boundaries of the Enhanced Enterprise Zone 1 to be an irregularly shaped area generally bounded on the north by the city limits of the City of Kansas City, Missouri and the Missouri river, on the east by Baughman Road and the city limits of Kansas City, Missouri, on the south by East 23rd Street, and on the west by the city limits of the City of Kansas City, Missouri. Zone 1 is partially located in Clay County, Platte County and Jackson County; and

WHEREAS, the City Council, in accordance with the provisions of Senate Bill No. 1155, directs that improvements to real property shall be exempt from assessment and payment of 50% of the ad valorem taxes on such improvements for a period of ten (10) years upon application for such exemption; and

WHEREAS, the granting of abatement of ad valorem taxes for rates and periods exceeding the 50% - 10 year exemption shall be done by passage of an ordinance or resolution by the City Council authorizing the exemption and establishing the terms of such exemption; and

WHEREAS, the City Council has determined that it will promote enhanced operational efficiency to request that its economic development entity, the Economic Development Corporation of Kansas City, Missouri, also manage this incentive program; NOW, THEREFORE,

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Board of Directors of the Economic Development Corporation of Kansas City, Missouri is hereby requested and authorized to prepare the application for the designation of an enhanced enterprise zone and submit the application, on behalf of the City, to the Director of the Department of Economic Development of the State of Missouri for designation of the following area as Enhanced Enterprise Zone 1:

An area generally bounded on the north by the city limits and the Missouri River, on the east by Baughman Road and the city limits, on the west by the city limits and the south by E. 23rd Street.

Section 2. That the City hereby requests the Economic Development Corporation of Kansas City, Missouri to draft policies for the operation of the enhanced enterprise zone program for presentation to and approval by the Council.

Section 3. That the City further requests that the Economic Development Corporation of Kansas City, Missouri, staff and operate the enhanced enterprise zone program under the general direction of the Economic Development Corporation and the City Council.

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