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Legislation #: 160557 Introduction Date: 7/28/2016
Type: Ordinance Effective Date: none
Sponsor: None
Title: Approving the First Amendment of the 2001 Main Street Tax Increment Financing Plan terminating Redevelopment Project 1; declaring as surplus those funds within the special allocation fund established in connection with the terminated project; authorizing the distribution of such surplus funds; and directing the City Clerk to transmit copies of this ordinance.

Legislation History
DateMinutesDescription
7/27/2016 Filed by the Clerk's office
7/28/2016 Referred to Planning, Zoning & Economic Development Committee
8/10/2016 Advance and Do Pass, Consent
8/10/2016 Advance and Do Pass, Debate
8/11/2016 Passed

View Attachments
FileTypeSizeDescription
160557 08.11.16.pdf Advertise Notice 89K Authenticated
160557 Map.pdf Maps 131K Map
160557 Staff Report.pdf Staff Report 178K Staff Report
160557 Fact Sheet.pdf Fact Sheet 303K Fact Sheet
2001 Main TIF - First Amendment - Ordinance (00188021xA7821).docx Other 21K 2001 Main TIF Plan - First Amendment

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ORDINANCE NO. 160557

 

Approving the First Amendment of the 2001 Main Street Tax Increment Financing Plan terminating Redevelopment Project 1; declaring as surplus those funds within the special allocation fund established in connection with the terminated project; authorizing the distribution of such surplus funds; and directing the City Clerk to transmit copies of this ordinance.

 

WHEREAS, pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865, RSMo (the “Act”), the City Council of Kansas City, Missouri created and empowered the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

 

WHEREAS, on October 9, 2014, the City Council passed Ordinance No. 140808, which approved the 2001 Main Street Tax Increment Financing Plan (the “Redevelopment Plan”); and

  

WHEREAS, the 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 and recommended to the City Council the approval of the First Amendment of the Redevelopment Plan and the termination of the designation of Redevelopment Project 1, which shall require that all funds on deposit in the Special Allocation Fund established in connection with such Redevelopment Project 1 be declared surplus and distributed to the affected taxing districts;  NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the First Amendment of the 2001 Main Street Tax Increment Financing Plan is hereby approved.

 

Section 2. That the designation of Redevelopment Project 1 of the 2001 Main Street Tax Increment Financing Plan, as contemplated by Ordinance No. 140809, is hereby terminated.

 

Section 3. That all funds within any special allocation fund established in connection with Redevelopment Project 1 of the 2001 Main Street Tax Increment Financing Plan following the deduction of existing and anticipated administrative costs and expenses of the Commission in connection with processing the termination of Redevelopment Project 1 of the 2001 Main Street Tax Increment Financing Plan are hereby declared as surplus and shall be distributed in accordance with the Act and the provisions of this ordinance.

 

 Section 4. That following the distribution of the surplus funds, if any, the special allocation fund for Redevelopment Project 1 of the 2001 Main Tax Increment Financing Plan is dissolved.

 

Section 5. That the City Clerk shall send a copy of this ordinance to the County Clerk and County Executive of Jackson County, Missouri.

 

___________________________________________

 

Approved as to form and legality:

 

 

______________________________

Brian T. Rabineau

Assistant City Attorney