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Legislation #: 041313 Introduction Date: 11/18/2004
Type: Ordinance Effective Date: none
Sponsor: COUNCILMEMBER FAIRFIELD
Title: Authorizing the execution and delivery of a Cooperative Agreement among Kansas City, Missouri, Platte County, Missouri, the Tax Increment Financing Commission of Kansas City, Missouri, and the Industrial Development Authority of Platte County, Missouri.

Legislation History
DateMinutesDescription
11/18/2004 Filed by the Clerk's office
11/19/2004 Referred to Finance Committee
11/22/2004 Advance and Do Pass, Debate
11/23/2004 Passed

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041313.pdf Advertise Notice 115K Authenticated

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ORDINANCE NO. 041313

 

Authorizing the execution and delivery of a Cooperative Agreement among Kansas City, Missouri, Platte County, Missouri, the Tax Increment Financing Commission of Kansas City, Missouri, and the Industrial Development Authority of Platte County, Missouri.

 

WHEREAS, pursuant to the Real Property Tax Increment Financing Allocation Act, Section 99.100 RSMo (1988), et seq., as amended (the "Act"), on March 11, 1999, the City Council of Kansas City, Missouri, by Ordinance No. 990256, approved the KCI Corridor Tax Increment Financing Plan (the "Plan");

 

WHEREAS, the Plan is a comprehensive program intended to improve an area that had not been subject to growth and development through private enterprise, the existence of which qualified the redevelopment area identified under the Plan as an Economic Development Area as defined in Section 99.805(5) of the Act;

 

WHEREAS, the Plan identifies the area generally bound by Tiffany Springs Parkway on the north, Barry Road on the south, Interstate 29 on the west and N.W. Skyview Avenue and the east line of the southeast quarter of Section 6, Township 51, Range 33 on the east as the redevelopment area (the Redevelopment Area);

 

WHEREAS, the Plan calls for construction of certain public improvements including a half diamond interchange at Missouri Highway 152 and Ambassador Drive (the "Interchange");

 

WHEREAS, the Plan further provides for the financing of certain public improvements, including the Interchange, as identified under the Plan solely from 50% of the incremental economic activity taxes generated within the Redevelopment Area ("TIF Revenue"); and

 

WHEREAS, the City desires to assist in the financing of the Interchange; and

 

WHEREAS, it is hereby found and determined that it is necessary and advisable and in the best interest of the City and its inhabitants at this time to authorize the execution and delivery of the Cooperative Agreement (as hereinafter defined) ; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. Authorization and Approval of Cooperative Agreement. The Cooperative Agreement (the "Cooperative Agreement"), among Kansas City, Missouri (the "City"), Platte County, Missouri, The Tax Increment Financing Commission of Kansas City, Missouri and The Industrial Development Authority of Platte County, Missouri, is hereby approved in substantially the form attached to this Ordinance (a copy of which documents shall be filed in the records of the City), and the City is hereby authorized to execute and deliver the Cooperative Agreement with such changes therein as shall be approved by the officials of the City executing the Cooperative Agreement, such officials signatures thereon being conclusive evidence of their approval and the Countys approval thereof.

 

Section 2. Execution of Cooperative Agreement. The Mayor, City Manager, Director of Finance or the Director of City Development are hereby authorized and directed to execute and deliver the Cooperative Agreement and such other documents, certificates and instruments as may be necessary or desirable to carry out and comply with the intent of this Resolution for and on behalf of and as the act and deed of the City. The City Clerk is hereby authorized and directed to attest to the Cooperative Agreement and to such other documents, certificates and instruments as may be necessary or desirable to carry out and comply with the intent of this Resolution.

 

Section 3. Further Authority. The City shall, and the officials, agents and employees of the City are hereby authorized and directed to, take such further action, and execute such other documents, certificates and instruments as may be necessary or desirable to carry out and comply with the intent of this Resolution, and to carry out, comply with and perform the duties of the City with respect to the Cooperative Agreement and the transactions contemplated thereby.

Section 4. Governing Law. This Ordinance shall be governed exclusively by and construed in accordance with the applicable laws of the State of Missouri.

 

Section 5. Effective Date. This Ordinance shall take effect and be in full force ten (10) days after its passage.

 

_________________________________________________

 

Approved as to form and legality:

 

 

_________________________________

Heather A. Brown

Assistant City Attorney