160123

Legislation #:	160123	Introduction Date:	2/18/2016
Type:	Resolution	Effective Date:	none
Sponsor:	COUNCILMEMBERS JAMES, JR., WAGNER, JUSTUS, TAYLOR, FOWLER AND MCMANUS

Title:

Directing the City Manager to develop and implement a program, to be denominated the Shared Success Fund, for the purpose of furthering economic development in severely distressed census tracts within the City.

Legislation History

Date	Minutes	Description
2/18/2016		Filed by the Clerk's office
2/18/2016		Referred to Planning, Zoning & Economic Development Committee
2/24/2016		Hold On Agenda (3/2/2016)
3/2/2016		Hold On Agenda (3/16/2016)
3/16/2016		Hold On Agenda (3/30/2016)
3/30/2016		Hold On Agenda (4/13/2016)
4/13/2016		Hold On Agenda (5/4/2016)
5/4/2016		Hold On Agenda (5/18/2016)
5/25/2016		Hold On Agenda (6/8/2016)
6/8/2016		Hold On Agenda (6/22/2016)
6/22/2016		Hold On Agenda (7/6/2016)
7/6/2016		Hold On Agenda (8/3/2016)
8/10/2016		Hold On Agenda (8/24/2016)
8/24/2016		Hold On Agenda (8/31/2016)
8/31/2016		Hold On Agenda (9/7/2016)
9/7/2016		Hold On Agenda (10/5/2016)
10/5/2016		Hold On Agenda (10/12/2016)
10/19/2016		Hold Off Agenda
7/19/2017		Release
7/31/2017		Released

View Attachments

File	Type	Size	Description
160123 Mayor's Presentation.pdf	Other	27K	Mayor's Presentation
160123 Map 2009.pdf	Maps	618K	2009 Map
160123 Map 2006.pdf	Maps	880K	2006 Map

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RESOLUTION NO. 160123

WHEREAS, the Mayor & City Council support the use of economic development tools to facilitate growth and development throughout the City of Kansas City, Missouri (“City”); and

WHEREAS, the Mayor & City Council desire to preserve and enhance the objectives of the Advance KC framework; and

WHEREAS, the Mayor & City Council seek to grow the financial resources available to facilitate economic development in distressed areas of our community; and

WHEREAS, the Mayor & City Council desire to create a financial mechanism to provide greater economic benefit across the City; and

WHEREAS, the Mayor & City Council desire the City Manager to takes steps necessary to establish and implement a Shared Success Fund; and

WHEREAS, the Mayor & City Council support the approval of economic development projects that can generate initial revenue for the Shared Success Fund; and

WHEREAS, the Mayor & City Council recognize the need to engage community members in the discussion of potential projects that would be funded; NOW, THEREFORE,

BE IT RESOLVED BY THE CITY COUNCIL OF KANSAS CITY, MISSOURI:

Section 1. That the Mayor & City Council do hereby support the establishment of a Shared Success Fund to be made available to qualified redevelopment projects (“Shared Success Projects”) in distressed areas and in need of those benefits derived from economic development.

Section 2. That the Shared Success Fund shall initially be funded from that portion of payments in lieu of taxes distributed to and retained by the City, and which are derived from projects benefiting from tax abatements or tax redirections through an economic development agency or program (“Shared Success PILOTS”).

Section 3. That the Shared Success PILOTS shall be deposited to the Shared Success Fund and shall be appropriated at the direction of the City Council.

Section 4. That The City Manager is authorized and directed to take such actions as are necessary to fully establish and implement the Shared Success Fund, and shall provide for the formation of an advisory committee that will advise the City Council on matters related to the Shared Success Fund and its usage.

Section 5. That the City Manager shall report back to the City Council and shall prepare and present to the City Council any additional legislative actions that may be necessary or desirable to fully implement the objectives of this Resolution.

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