ORDINANCE NO. 150499

Determining that the North Oak Tax Increment Financing Plan is making satisfactory progress under the time schedule proposed within the plan for completion.

WHEREAS, the North Oak Tax Increment Financing Plan was approved by the Council by passage of Ordinance No. 050104 on February 24, 2005; and

WHEREAS, Section 99.865.3, RSMo, provides that five years after the establishment of a redevelopment plan and every five years thereafter, the Council shall hold a public hearing regarding those redevelopment plans and projects created pursuant to Sections 99.800 to 99.865, RSMo, for the purpose of determining if the redevelopment project is making satisfactory progress under the proposed time schedule contained within the approved plans for completion of such projects; and

WHEREAS, after proper notice, the Council has held the statutory hearing regarding the Plan; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Council hereby determines that the North Oak Tax Increment Financing Plan is making satisfactory progress under the time schedule proposed within the approved plan for completion of the projects.

Section 2. That the Council further finds that, as required by Section 99.865.3, RSMo, the required notices were published and the required hearing was held.

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Approved as to form and legality:

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Brian T. Rabineau

Assistant City Attorney