ORDINANCE NO. 980389

Accepting the recommendations of the Tax Increment Financing Commission as to the First Amendment to the Americana Hotel Tax Increment Financing Plan and approving the First Amendment to the Americana Hotel Tax Increment Financing Plan; and designating an Altered Redevelopment Area.

WHEREAS, pursuant to the Real Property Tax Increment Allocation Redevelopment Act, Sections 99.800 to 99.865 of the Revised Statutes of Missouri, 1986, as amended (the "Act"), the City Council of Kansas City, Missouri, by Ordinance No. 54556 passed on November 24, 1982, and thereafter repealed and amended in certain respects by Committee Substitute to Ordinance No. 911076, as amended, passed on August 29, 1991, created the Tax Increment Financing Commission of Kansas City, Missouri (the "Commission"); and

WHEREAS, on January 28, 1993, City Council passed Ordinance No. 921438, which accepted the recommendations of the Commission in Resolution No. 92-46 as to the Americana Hotel Tax Increment Financing Plan ("the Redevelopment Plan"), approved the Redevelopment Plan, found the Redevelopment Area to be a blighted area, designated the Redevelopment Area as a Redevelopment Area pursuant to the Act, and authorized the Commission to take all such action as may be needed to effectuate the Redevelopment Plan; and

WHEREAS, the Redevelopment Plan has been proceeding, and certain of the Redevelopment Projects described therein remain necessary to improve the Redevelopment Area; and

WHEREAS, an amendment to the Redevelopment Plan entitled The First Amendment to the Americana Hotel Tax Increment Financing Plan ("First Amendment") affecting the area described therein was proposed to the Commission which called for the removal of Redevelopment Project 2 and Redevelopment Project 3 from the Redevelopment 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 meeting on March 11, 1998, and, after receiving the comments of all interested persons and taxing districts, said public hearing was closed and Resolution No. 3-3-98 ("Resolution") was adopted recommending that the City Council approve the First Amendment; and

WHEREAS, the intent of the First Amendment is to alter the exterior boundaries of the Redevelopment Area and reduce the same by removing Redevelopment Project Area 2 and Redevelopment Project Area 3 from the Redevelopment Area, and otherwise eliminate all aspects of the Redevelopment Plan which relate to Redevelopment Project 2 and Redevelopment Project 3; NOW, THEREFORE,

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

Section 1. The recommendations of the Commission concerning the First Amendment as set forth in the Resolution attached hereto as Exhibit A are hereby accepted and the First

Amendment, a copy of which is attached hereto as Exhibit B, is hereby approved and adopted as valid.

Section 2. All terms used in this ordinance, not otherwise defined herein, shall be construed as defined in the Act.

Section 3. The following-described area constituting the Redevelopment Area, as amended, is hereby designated as a Redevelopment Area pursuant to the Act:

All of Lots 30 through 36, Block 7, REIDS ADDITION, all included in and a part of the City of Kansas City, Jackson County, Missouri.

Section 4. The City Council hereby finds that good cause has been shown for amendment of the Redevelopment Plan, and that the findings of the City Council in Ordinance No. 921438 with respect to the Redevelopment Plan are not affected by the First Amendment and apply equally to the First Amendment.

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Approved as to form and legality:

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Assistant City Attorney