RESOLUTION NO. 120362

Requesting the Tax Increment Financing Commission of Kansas City, Missouri, to take the necessary steps to identify funds to support the downtown circulator system as appropriate.

WHEREAS, on September 29, 2011, the Council adopted Second Committee Substitute for Resolution No. 110765, which expressed the City’s commitment to collaboratively funding the preliminary engineering, and developing a long-term financing strategy for a downtown circulator system; and

WHEREAS, among other things, the resolution stated that the City would work with downtown business interests and other key stakeholders to collaboratively identify funding for preliminary engineering; and

WHEREAS, the resolution stated that “those funding mechanisms will include, but not be limited to, funding through the PIAC process and amendment, as necessary, to existing TIF plans in the project area;” and

WHEREAS, the proposed downtown circulator system will benefit several tax increment financing redevelopment areas; and

WHEREAS, the Council believes that it may be appropriate to utilize available tax increment financing revenues to support the downtown circulator system; NOW, THEREFORE,

BE IT RESOLVED BY THE COUNCIL OF KANSAS CITY:

Section 1. That the Council hereby requests the Tax Increment Financing Commission of Kansas City, Missouri, (“Commission”) to take the necessary steps to identify funds, not committed pursuant to redevelopment agreements for existing redevelopment projects, to support the downtown circulator system as appropriate and recommend amending or terminating tax increment financing plans within the proposed Kansas City Downtown Streetcar Transportation Development District area for such purposes.

Section 2. The Council further requests that the Commission forward its recommendations to the Council for consideration as soon as possible.

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