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Legislation #: 051066 Introduction Date: 8/25/2005
Type: Resolution Effective Date: none
Sponsor: COUNCILMEMBER EDDY
Title: Designating an enhanced enterprise zone program area, to be known as Enhanced Enterprise Zone 1, pursuant to the provisions of Senate Bill No. 1155.

Legislation History
DateMinutesDescription
8/25/2005 Filed by the Clerk's office
8/25/2005 Immediate Adoption
8/25/2005 Adopted

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RESOLUTION NO. 051066

 

Designating an enhanced enterprise zone program area, to be known as Enhanced Enterprise Zone 1, pursuant to the provisions of Senate Bill No. 1155.

 

WHEREAS, the City Council has determined that it is proper and fitting to establish an enhanced enterprise zone (EEZ) program pursuant to the provisions of Senate Bill No. 1155 to provide certain incentives for businesses to locate or expand in the designated zone; and

 

WHEREAS, the City Council designates the boundaries of the Enhanced Enterprise Zone 1 to be an irregularly shaped area generally bounded on the north by the city limits of the City of Kansas City, Missouri and the Missouri river, on the east by Baughman Road and the city limits of Kansas City, Missouri, on the south by East 23rd Street, and on the west by the city limits of the City of Kansas City, Missouri. Zone 1 is partially located in Clay County, Platte County and Jackson County; and

 

WHEREAS, the City Council, in accordance with the provisions of Senate Bill No. 1155, directs that improvements to real property shall be exempt from assessment and payment of 50% of the ad valorem taxes on such improvements for a period of ten (10) years upon application for such exemption; and

 

WHEREAS, the granting of abatement of ad valorem taxes for rates and periods exceeding the 50% - 10 year exemption shall be done by passage of an ordinance or resolution by the City Council authorizing the exemption and establishing the terms of such exemption; and

 

WHEREAS, pursuant to Resolution No. 050844 of the City Council, the Economic Development Corporation of Kansas City, Missouri, prepared and submitted, on behalf of the City, an application for designation of Enhanced Enterprise Zone 1; and

 

WHEREAS, the State has approved the application; NOW, THEREFORE,

 

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the City hereby designates the following area as Enhanced Enterprise Zone 1:

 

An area generally bounded on the north by the city limits and the Missouri River, on the east by Baughman Road and the city limits, on the west by the city limits and the south by E. 23rd Street.

Section 2. In accordance with Senate Bill No. 1155, all subsequent improvements to real property constructed in accordance with applicable City Codes and Ordinances and located within the Enhanced Enterprise Zone, which are owned by a revenue producing enterprise as defined in the statute shall become and remain exempt from assessment and payment of 50% of the ad valorem taxes of the City of Kansas City, Missouri, for a period of ten (10) years upon application for and approval of such exemption, provided that the abatement shall not relieve the assessor or other responsible official from ascertaining the amount of the equalized assessed value of all taxable property annually as required by sections 99.855, 99.957, or 99.1042, RSMo, and shall not have the effect of reducing the payments in lieu of taxes referred to in subdivision (2) of subsection 1 of section 99.845, RSMo, subdivision (2) of subsection 3 of section 99.957, RSMo, or subdivision (2) of subsection 3 of section 99.1042, RSMo, unless such reduction is set forth in the plan approved by the governing body of the municipality pursuant to subdivision (1) of subsection 1 of section 99.820, section 99.942, or section 99.1027, RSMo.

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