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Legislation #: 120755 Introduction Date: 9/13/2012
Type: Ordinance Effective Date: 9/30/2012
Sponsor: None
Title: Approving and ratifying a $2,849,029.00 Funding Agreement with the Tax Increment Financing Commission of Kansas City, Missouri, for improvements to the Tiffany Springs Parkway/I-29 Interchange pursuant to the KCI Corridor Tax Increment Financing Redevelopment Plan.

Legislation History
DateMinutesDescription
8/21/2012 Filed by the Clerk's office
9/13/2012 Referred to Transportation & Infrastructure Committee
9/20/2012 Advance and Do Pass, Debate
9/20/2012 Passed

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120755.pdf Authenticated 939K Authenticated
http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=120755 Video Link 0K http://kansascity.granicus.com/ViewSearchResults.php?view_id=2&keywords=120755
120755 Fact Sheet.xls Fact Sheet 54K FAct Sheet
Interchange funding ordinance.docx Request for Ordinance 15K Request for Ordinance

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ORDINANCE NO. 120755

 

Approving and ratifying a $2,849,029.00 Funding Agreement with the Tax Increment Financing Commission of Kansas City, Missouri, for improvements to the Tiffany Springs Parkway/I-29 Interchange pursuant to the KCI Corridor Tax Increment Financing Redevelopment Plan.

 

WHEREAS, the Council approved by Ordinance No. 990256, the KCI Corridor Tax Increment Financing Redevelopment Plan (“Redevelopment Plan”), as subsequently amended; and

 

WHEREAS, the Redevelopment Plan provided for certain improvements to the Tiffany Springs Parkway/I-29 Interchange (“Interchange”) pursuant to a Cost Sharing Agreement between the Missouri Highways and Transportation Commission and the Tax Increment Financing Commission of Kansas City, Missouri (“Commission”); and

 

WHEREAS, the City and the Commission desire to enter into an agreement for the purpose of the City providing a portion of the Interchange costs that the Commission is obligated to fund under the Cost Share Agreement; and

 

WHEREAS, the Funding Agreement signed by the Director of Aviation between the Commission and the City for the Design and Construction of Tiffany Springs Parkway/I-29 dated October 31, 2011 (“Funding Agreement”) provides for the City contribution for the Interchange of $2,849,029.00; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Sec. 1. That the Council hereby approves and ratifies the Funding Agreement between the City and the Commission and authorizes the Director of Aviation to expend $2,849,029.00 provided therein from funds previously appropriated to Account No. 13-8300-627270-B. The Funding Agreement is approved in substantial form as that on file in the office of the Director of Aviation.

 

_____________________________________________

 

I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred.

 

___________________________________

Randall J. Landes

Director of Finance

 

Approved as to form and legality:

 

___________________________________

Dorothy L. Campbell

Assistant City Attorney