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Legislation #: 150805 Introduction Date: 9/17/2015
Type: Ordinance Effective Date: none
Sponsor: None
Title: Authorizing the Director of City Development to execute an amendment to the Cooperative Agreement with the Tax Increment Financing Commission of Kansas City, Missouri dated April 1, 2012 in order to establish a New Construction-GAP Funding Program in connection with the Midtown Housing Program.

Legislation History
DateMinutesDescription
9/17/2015 Filed by the Clerk's office
9/17/2015 Referred to Planning, Zoning & Economic Development Committee
9/30/2015 Advance and Do Pass, Debate
10/1/2015 Passed

View Attachments
FileTypeSizeDescription
150805.pdf Authenticated 157K Authenticated
TIF Midtown Ordinance Fact Sheet (3) (00180655xA7821).xls Fact Sheet 71K TIF Midtown Ordinance Fact Sheet
TIF Midtown Ordinance Request (00180642xA7821).docx Request for Ordinance 34K TIF Midtown Ordinance Request

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ORDINANCE NO. 150805

Authorizing the Director of City Development to execute an amendment to the Cooperative Agreement with the Tax Increment Financing Commission of Kansas City, Missouri dated April 1, 2012 in order to establish a New Construction-GAP Funding Program in connection with the Midtown Housing Program.

 

WHEREAS, the Third Amendment to the Midtown Redevelopment Tax Increment Financing Plan (the "TIF Plan") established the Midtown Housing Program, which is designed to award grants to qualified property owners within the Midtown Benefit Area to assist in the preservation, rehabilitation and construction of safe residential structures; and

 

WHEREAS, pursuant to Committee Substitute for Ordinance No. 001466, as amended, the Third Amendment to the Midtown Redevelopment Tax Increment Financing Plan (the "TIF Plan") provides that the City will administer the Midtown Housing Program; and

 

WHEREAS, pursuant to the Committee Substitute for Resolution No. 010668 adopted by the City Council on May 3, 2001, the City Council set forth its policy that it remain responsible for the implementation of the Midtown Housing Program and declared its intent to execute a contract with the Tax Increment Financing Commission of Kansas City, Missouri (“the Commission”) for the program's first year of operations; and

 

WHEREAS, the City Council has passed Ordinance No. 120219 authorizing the Director of City Planning and Development to enter into a Cooperative Agreement with the Commission for the purpose of administering the Midtown Housing Program; and

 

WHEREAS, the Commission has adopted Resolution No. 2-18-12 authorizing the Chairman or such other authorized officer to enter into a Cooperative Agreement with the City for the purpose of administering the Midtown Housing Program; and

 

WHEREAS, the Cooperative Agreement approved by the City and Tax Increment Financing Commission of Kansas City has been in effect as of April 1, 2012 and continues through March 30, 2017; and

 

WHEREAS, the City and the Commission desire to amend the Cooperative Agreement in conjunction with amending of the Midtown Redevelopment Tax Increment Financing Plan, to provide for the establishment and funding of a new program designated the New Construction-GAP Funding Program; and

 

WHEREAS, the Commission has recommended initial funding for the GAP Funding Program properties located in Manheim target area will be eligible for $50,000.00 in GAP financing; and properties located in the Beacon Hill target area will be eligible for $25,000.00 in GAP financing; and

 

WHEREAS, the City and the Commission desire to further amend this Agreement to provide that the Commission will administer the New Construction-GAP Funding Program; NOW, THEREFORE,

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of City Development is authorized to execute, on behalf of the City, an Amendment to the Cooperative Agreement dated April 1, 2012, to provide for the establishment of the New Construction-GAP Funding Program (hereafter referred to as the “GAP Funding Program“) in accordance with the Midtown Redevelopment Tax Increment Financing Plan, as amended and approved by the City Council, and in accordance with the program guidelines for the Program as approved by the Commission, upon recommendation from the Housing Advisory Board (hereafter referred to as the “Board”). The form of the amendment to the Cooperative Agreement is approved in substantial form as Exhibit A.

 

_____________________________________________________

 

Approved as to form and legality:

 

 

______________________________

Brian T. Rabineau

Assistant City Attorney