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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.
_____________________________________________
Approved
as to form and legality:
___________________________________
Heather
A. Brown
Assistant City Attorney