KC Skyline

City Clerk Web Search

Search the Ordinances:

Legislation #: 060646 Introduction Date: 6/8/2006
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER HERMANN AND COUNCILMEMBER SKAGGS
Title: Authorizing the Director of Finance to enter into a Financing and Cooperative Agreement with the Tax Increment Financing Commission of Kansas City, Missouri, to provide additional tax increment financing revenues from Projects 3, 4, 5A, 5B and 6 of the North Oak Tax Increment Financing Plan for additional improvements in the redevelopment area.

Legislation History
DateMinutesDescription
6/8/2006 Filed by the Clerk's office
6/8/2006 Referred to Finance and Audit Committee
6/14/2006 Hold On Agenda (6/28/2006)
6/28/2006 Hold On Agenda (7/5/2006)
7/5/2006 Hold On Agenda (7/19/2006)
7/19/2006 Advance and Do Pass as a Committee Substitute, Debate
7/20/2006 Passed as Substituted

View Attachments
FileTypeSizeDescription
060646.pdf Authenticated 112K Authenticated

Printer Friendly Version

COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 060646

 

Authorizing the Director of Finance to enter into a Financing and Cooperative Agreement with the Tax Increment Financing Commission of Kansas City, Missouri, to provide additional tax increment financing revenues from Projects 3, 4, 5A, 5B and 6 of the North Oak Tax Increment Financing Plan for additional improvements in the redevelopment area.

 

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, created the Tax Increment Financing Commission of Kansas City, Missouri (the Commission); and

 

WHEREAS, on February 24, 2005, the City Council passed Committee Substitute for Ordinance No. 050104, which accepted the recommendations of the Commission as to the North Oak Tax Increment Financing Plan (the Redevelopment Plan) and designated the redevelopment area therein to be a blighted area; and

 

WHEREAS, a first amendment to the Redevelopment Plan entitled the First Amendment to the North Oak Tax Increment Financing Plan (the First Amendment) was proposed to the Commission; and

 

WHEREAS, said Commission has been duly constituted and its members appointed; and, after all proper notice was given, the Commission met in public hearing and after receiving the comments of all interested persons and taxing districts, closed said public hearing on April 12, 2006, adopted Resolution No. 4-6-06, recommending that the City Council approve the First Amendment; and

 

WHEREAS, the First Amendment provides for expansion of the redevelopment area by adding a 32 acre parcel which will be developed into retail space; and

 

WHEREAS, the Council approved the First Amendment by passage of Ordinance No. 060534 on June ____, 2006; and

 

WHEREAS, the Council desires to make available from certain projects within the redevelopment area 100% of the economic activity taxes generated by those projects; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Council hereby expresses its intent to appropriate 100% of the economic activity taxes, as defined by Section 99.845.3, RSMo, generated by Projects 3, 4, 5A, 5B and 6 of the North Oak Tax Increment Financing Plan for public infrastructure and improvements in the redevelopment area, in accordance with the North Oak Corridor Land Use and Development Plan.

 

Section 2. The Director of Finance is authorized to enter into a financing and cooperative Agreement with the Tax Increment Financing Commission of Kansas City, Missouri, in substantially the form attached to this ordinance as Exhibit A.

 

_________________________________________________________

 

 

Approved as to form and legality:

 

___________________________________

Heather A. Brown

Assistant City Attorney