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Legislation #: 120729 Introduction Date: 8/16/2012
Type: Ordinance Effective Date: 9/2/2012
Sponsor: None
Title: Accepting the recommendation of the Tax Increment Financing Commission of Kansas City, Missouri, as to the Termination of the Chatham Tax Increment Financing Plan, and approving the same.

Legislation History
DateMinutesDescription
8/15/2012 Filed by the Clerk's office
8/16/2012 Referred to Planning, Zoning & Economic Development Committee
8/22/2012 Advance and Do Pass as a Committee Substitute, Debate
8/23/2012 Passed as Substituted

View Attachments
FileTypeSizeDescription
120729.pdf Authenticated 742K Authenticated
120729 Fact Sheet.docx Fact Sheet 27K Fact Sheet
Chatham TIF Plan Termination Ordinance Request (00151162).DOCX Request for Ordinance 19K Termination Chatham TIF Plan Request for Ordinance

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COMMITTEE SUBSTITUTE FOR ORDINANCE NO. 120729

Accepting the recommendation of the Tax Increment Financing Commission of Kansas City, Missouri, as to the Termination of the Chatham Tax Increment Financing Plan, and approving the same.

WHEREAS, the City Council, by Ordinance No. 070370, approved the Chatham Tax Increment Financing 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 with respect to the Redevelopment Plan, closed said public hearing on June 13, 2012, and adopted its Resolution No. 6-11-2012 (the “Resolution”) recommending to the City Council the approval of the Termination of the Chatham Tax Increment Financing Plan, as follows:

(1) Termination of the Chatham TIF Plan; and

(2) That any funds in the Special Allocation Fund related to the Chatham TIF Plan be surplus to the taxing jurisdictions in accordance with Section 99.805 ROMs; thereby dissolving the Special Allocation Fund; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Chatham Tax Increment Financing Plan is hereby terminated and all surplus funds shall be distributed to the affected taxing jurisdictions in accordance with the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865, RSMo.

Section 2. That following the distribution of the surplus funds, the special allocation fund for the Chatham Tax Increment Financing Plan is dissolved and the designation of the Chatham Redevelopment Project Area, as described in Ordinance No. 070370, is terminated.

_____________________________________________

 

Approved as to form and legality:

 

 

______________________________

Brian T. Rabineau

Assistant City Attorney