ORDINANCE NO. 061039

Authorizing an application to the Missouri Development Finance Board for the preliminary authorization of State Tax Credits in the amount not to exceed $4,000,000.00 to support fund-raising efforts for the renovation of the existing headquarters of Midwest Research Institute; and authorizing execution of a tax credit agreement related to the project.

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Council expresses its intention to support the concept of renovating the existing headquarters of Midwest Research Institute to increase building utilization and efficiency.

Section 2. That the Council states that the renovated facility will benefit the public by creating jobs and continued investment in Kansas City, Missouri.

Section 3. That the Council authorizes an application in the amount of $4,000,000.00 from the Missouri Development Finance Boards Tax Credit for Contribution Program to finance the renovation of the headquarters of Midwest Research Institute.

Section 4. That if the application is approved, the Director of City Development is authorized to execute a tax credit agreement relating to the project, in substantial form, as that on file in the office of the City Development Department.

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Approved as to form and legality:

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Heather A. Brown

Assistant City Attorney